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Tag: Regulation


Diabetes Patients Suffer Unregulated and Commercially Unnecessary Hike in Insulin Price

Though Humulin has been on the market for many years for a relatively cheap price, a single monthlong dose of the insulin variety manufactured by Eli Lilly costs $1,200 today—more than five times the amount in 2007. Why? Because the company can charge that much, Eli Lilly’s insulin marketing director said.

Posted on Sep 13, 2014 READ MORE



Get Ready for the ‘Internet Slowdown’

Next Wednesday, Sept. 10, if your favorite website seems to load slowly, take a closer look: You might be experiencing the Battle for the Net’s “Internet Slowdown,” a global day of grass-roots action.

Posted on Sep 3, 2014 READ MORE



The Insider’s Economic Dictionary: R Is for Rentier

Race to the bottom: A term for dog-eat-dog competition by which countries compete by cutting wage levels so as to produce in the cheapest market, not by raising wages and labor productivity.

Posted on Apr 14, 2014 READ MORE



China Unveils Comprehensive Pollution Monitoring System

Measures would require the country’s biggest polluters to report air emissions and wastewater discharges on a more or less continuous basis—and make the information available to the public.

Posted on Jan 27, 2014 READ MORE



AP/Bernd Kammerer

Volcker Rule Made Meaningless by Abundant Exemptions

The Volcker Rule has finally been approved by regulators, but with hundreds of pages of exemptions, too-big-to-fail banks have little to fear.

Posted on Dec 18, 2013 READ MORE



Shutterstock

N.Y. Fed Moves to Seal Documents in Ex-Bank Examiner’s Suit

Carmen Segarra filed a lawsuit against the New York Fed and three of its employees alleging she had been wrongfully terminated last year after she determined that Goldman Sachs had insufficient conflict-of-interest policies.

Posted on Oct 14, 2013 READ MORE



p-a-t-r-i-c-k (CC BY-ND 2.0)

The Armageddon Looting Machine: The Looming Mass Destruction from Derivatives

Increased regulation and low interest rates are driving lending from the regulated commercial banking system into the unregulated shadow banking system. Although free of government regulation, these banks are propped up by a guarantee hidden in the 2005 Bankruptcy Reform Act pushed through by Wall Street. The result is a perverse incentive for the financial system to self-destruct.

Posted on Sep 19, 2013 READ MORE



Blu Cigs

Are Cigarettes Cigarettes If They’re Electronic?

E-cigarettes, those small vaporizers that deliver nicotine to the lungs without fire and smoke, are the apparent future of tobacco, and the FDA is about to respond to the industry with a pack of regulations.

Posted on Aug 26, 2013 READ MORE


Congress Needs to Read a Book

Journalist Robert Kaiser has written a case study of the passage of Dodd-Frank, the legislation that kind of sort of took a shot at maybe re-regulating Wall Street (but not really). He tells Judy Woodruff, “It was upsetting to me as a citizen to realize how few members understood the issues they were dealing with.”

Posted on May 29, 2013 READ MORE



AP

Congress Still Puts Out for Wall Street

The big banks’ influence in Washington has only grown in direct proportion to the harm they have caused to the nation’s economy.

Posted on May 27, 2013 READ MORE


The Hollowing Out of Government

The West, Texas, chemical and fertilizer plant where at least 15 people were killed and more than 200 injured a few weeks ago hadn’t been fully inspected by the Occupational Safety and Health Administration since 1985.

Posted on May 5, 2013 READ MORE



Shutterstock image of bank.

Big Banks Are Victims of Their Own Success

Now that Wall Street has managed to neuter and delay the modest reforms passed by Congress, there is more political momentum to pass stricter financial regulations.

Posted on May 1, 2013 READ MORE



Shutterstock photo of a bill fragment with blood spots.

Wall Street Is Killing Dodd-Frank One Regulation at a Time

The already tepid reforms enacted by Dodd-Frank are falling prey to business leaders, Republican lawmakers and the son of Supreme Court Justice Antonin Scalia.

Posted on Apr 30, 2013 READ MORE



kevin dooley (CC BY 2.0)

Regulators to Keep Tight Lips on Foreclosure Improprieties

This month we learned that regulators will not reveal any shenanigans discovered by the highly paid “independent” consultants big banks hired under orders from the government to review potential wrongdoing on their part in the foreclosure/robo-signing scandal.

Posted on Apr 30, 2013 READ MORE



AP/Osamu Honda

Whiny Billionaires in Need of Sequestration

Where is the Occupy movement now that the depravity of the super rich is on full display?

Posted on Mar 5, 2013 READ MORE



Abhisit Vejjajiva (CC BY 2.0)

Mitt Romney: ‘Tax Avoider on a Grand Scale’

Joseph Stiglitz, “one of the few members of the economics profession committed to scientific empiricism, not ideology or servitude to the rich,” as one reader put it, writes that the habit of tax avoidance typical of Mitt Romney’s class makes it difficult to publicly fund things like education, technology, and infrastructure, upon which modern economies depend to flourish.

Posted on Sep 4, 2012 READ MORE



blakespot (CC BY 2.0)

Questionable Drugs Net Billions for Health Care Industry

Doctors, drugmakers, regulators and lobbyists pushed high doses of medications that may have been ineffective or at times even lethal on millions of anemic patients over two decades, making upward of $8 billion a year for two companies. “How did this happen?” asks Peter Whoriskey of The Washington Post.

Posted on Jul 20, 2012 READ MORE


Fukushima Disaster Ruled ‘Man-Made’ as Nuclear Plant Concerns Increase

A Japanese parliamentary inquiry concluded that last year’s disaster at the Fukushima Daiichi nuclear power plant was “a profoundly man-made disaster that could and should have been foreseen and prevented.” Former nuclear industry executive Arnie Gundersen talks about the significance of the report for U.S. nuclear facilities.

Posted on Jul 6, 2012 READ MORE


Don’t Fall for Corporate Blackmail

They may balk at regulation, but unlike textile or electronics firms, fossil fuel companies are extracting a resource that is relatively rare, altogether finite and—most important—tied to specific geographies.

Posted on Jun 21, 2012 READ MORE


Paul Volcker and His Rule

JPMorgan Chase CEO Jamie Dimon may be less concerned with the actual $2 billion his bank lost than the credence it lends to calls for tougher regulation.

Posted on May 16, 2012 READ MORE



AP/Richard Drew

Bank of New York Case Tests IRS Power to Halt Foreign Tax Abuses

In November 2001, the Bank of New York quietly transferred nearly $8 billion of its assets—almost 10 percent of its holdings at the time—to a trust in the small, business-friendly state of Delaware in a critical first step in setting up a tax shelter that has cost the government more than $1 billion in revenue in the past decade.

Posted on Apr 16, 2012 READ MORE



DonkeyHotey (CC-BY)

Fed Shrugged Off Warnings, Let Banks Pay Shareholders Billions

In late 2010, a major regulator warned the Federal Reserve: Banks are not healthy enough to increase dividends, and the economy could implode again. But the Fed ignored that advice.

Posted on Mar 3, 2012 READ MORE



AP / Manuel Balce Ceneta

Meet the Obscure Federal Regulator Who’s Not Helping Homeowners

Fannie and Freddie are required to help homeowners while earning profits so they can pay back the taxpayers who bailed them out. Here is our guide to the little-known federal regulator, Edward DeMarco, ultimately in charge of the two companies. You may have never heard of him, but as The Washington Post put it, he’s “the most powerful man in housing policy.”

Posted on Feb 8, 2012 READ MORE



AP / NBC News / William B. Plowman

Obama’s New Chief of Staff Hails From Wall Street

Jack Lew is a liberal who worked for Speaker Tip O’Neill and studied under beloved progressive Sen. Paul Wellstone, but he was also the chief operating officer of a Citigroup unit and doesn’t fault deregulation for the shoddy economy. (more)

Posted on Jan 9, 2012 READ MORE



Moyan Brenn (CC-BY-ND)

It Seems Wall Street Is Occupying Us

The good news of the day is that Bill Moyers is coming back to television next January. The bad news is that Coca-Cola seems to be winning its battle to fill the Grand Canyon with empty plastic bottles.

Posted on Nov 10, 2011 READ MORE



Paul Stein (CC-BY-SA)

The Week Politics Changed

American politics reached a pivot point this week. A new story line will now define how voters and the media see what’s going on.

Posted on Oct 6, 2011 READ MORE


Franken Calls for Oversight of Ratings Agencies

Sen. Al Franken, D-Minn., is disturbed by the monopolistic power of the ratings agencies—and still determined to curb their abuses, as he tried to do last year with an amendment to the Dodd-Frank banking reform bill.

Posted on Aug 12, 2011 READ MORE



Flickr / GregPC

Eyeing the 2012 Race, Obama’s Top Regulator Cozies Up to Business

In a time of critical problems such as climate change and high unemployment, Barack Obama’s regulatory czar is busy trying to secure the president’s re-election by indulging the anti-regulatory appetites of gluttonous corporations, according to a report by Dan Froomkin.

Posted on Jun 13, 2011 READ MORE



Flickr / woodleywonderworks

Big Finance Argues Its Irrelevance

Don’t mistake the claims of relative unimportance coming from the big shots on Wall Street before an audience of federal regulators over the past several months for some sort of newfound humility. (more)

Posted on Jun 12, 2011 READ MORE



Marc Nozell (CC-BY)

Where Are They Now: Corporate Democrat Edition

Birch Evans “Evan” Bayh III, darling of conservative Democrats, left the Senate to find “better ways to serve my fellow citizens.” So far he has signed on as a Fox News contributor and Chamber of Commerce lobbyist. (more)

Posted on Jun 7, 2011 READ MORE



This Is Why People Hate Washington

Meredith Attwell Baker, one of two Republican FCC commissioners, voted in late January to approve the merger of Comcast and NBC. Less than four months later, she announced that she is leaving the FCC to become a lobbyist for the merged company. (more)

Posted on May 11, 2011 READ MORE



Flickr / kathleencaring

Republicans Make War on the Environment

The U.S. is caught up in three wars, a budget crisis and high unemployment. So what are Republican politicians working on? Cutting long-standing environmental regulations and shifting the burden of oversight from the federal to the state level.

Posted on Apr 16, 2011 READ MORE


Capitol Hill
Flickr / wallyg

House Rejects FCC’s Net Neutrality Rules

With murmurs of a veto in the background, Republicans successfully pushed a measure through the U.S. House rejecting the FCC’s 2010 net neutrality rules for Internet service providers.

Posted on Apr 9, 2011 READ MORE



Taro the Shiba Inu (CC-BY)

Netflix Gets ‘Mad Men,’ and That Opens Some Big Questions

Netflix had its share of skeptics when the company known for mailing DVDs started streaming movies such as “Alien vs. Ninja” on demand, but enough people paid for the privilege that Netflix has been able to increase the quality of content on offer—and the threat to those cable pirates who have the nerve to charge ... (more)

Posted on Apr 6, 2011 READ MORE



Live Chat Podcast: Robert Scheer on Obama’s Call for Less Regulation

In this live video Q & A session, Robert Scheer discussed with readers his latest column, “Obama Pulls a Clinton” .

Posted on Jan 21, 2011 READ MORE



Flickr / qmnonic (CC-BY)

Obama Signs Big, Pricey Food Bill

The legislation that President Obama signed Tuesday represents the biggest revamp of the country’s food regulation system in decades—that is, if it gets past those congressional Republicans spoiling for a fight as they pledge to crack down on government spending this year.

Posted on Jan 4, 2011 READ MORE



Flickr / kevindooley (CC-BY)

Banking Regulation Team Pitches New Payment Rules

An international panel of banking regulators from 27 nations is aiming to crack down on outlandish pay packages for industry executives by proposing a new set of rules that call for more transparency and, wonder of wonders, some correlation between ...

Posted on Dec 27, 2010 READ MORE



AP / Matt Rourke

Help Stop Destruction of the Free Internet Now

The recent FCC decision to “protect” the free and open Internet was long awaited by activists but it turned out to be smoke and mirrors, catering largely to service providers such as Comcast and AT&T.

Posted on Dec 26, 2010 READ MORE



Flickr / CaptainBuilder

EPA Sharpens Its Regulatory Teeth

Though it was politically vague and took no immediate action, the Environmental Protection Agency announced it will put some regulatory pressure on power plants and oil refineries to limit greenhouse gas emissions by the end of 2012.

Posted on Dec 24, 2010 READ MORE



Flickr / balleyne (CC-BY-SA)

The FCC, Net Neutrality and You

How is one to make sense of the FCC’s big vote Tuesday? Does it represent a gain for the net-neutrality cause, or is the corporate takeover of the Web upon us in earnest? Well, one thing seems certain: Nobody is all that happy with the outcome—except, that is, for some lobbyists.

Posted on Dec 21, 2010 READ MORE


Follow Wyoming on Fracking Regs

Frank Sinatra once said that if he could make it in New York, he could make it anywhere. Thanks to new drilling rules, environmentalists can now say the same about Wyoming.

Posted on Oct 7, 2010 READ MORE


Paul Volcker
AP / Wong Maye-E

Volcker Unloads on Nation’s Finance System

In a spare-no-one, off-the-cuff critique, former Federal Reserve Chairman Paul Volcker delivered a blistering analysis of the nation’s financial system Thursday, criticizing banks, regulators, business schools, the Fed and money-market funds in a “plea for structural changes in markets and market regulation.”

Posted on Sep 24, 2010 READ MORE


SEC building
Wikimedia Commons / AgnosticPreachersKid

More Stocks Subject to SEC ‘Circuit-Breaker Rule’

Remember that crazy time back in May when the Dow Jones unexpectedly dropped by almost 1,000 points in only half an hour? Well, the SEC has finally worked in some protection against such sudden plunges by expanding the number of stocks subject to its current “circuit-breaker rule.”

Posted on Sep 12, 2010 READ MORE



Flickr / The Pug Father (CC-BY)

Google and Verizon Have a Plan to Wreck the Internet

Google and Verizon have decided they would do a better job writing the regulations that govern their Internet businesses, and so the two have come up with a “policy framework” that has progressive groups and net neutrality advocates steamed.

Posted on Aug 9, 2010 READ MORE



Photo illustration

New England Republicans Assure Financial Reform Passage

Scott Brown of Massachusetts has decided to support the anemic financial reform bill because, as The Washington Post reports, “he got nearly everything he wanted.” The bill is now expected to pass with the support of at least two other Republicans, including Maine’s Olympia Snowe.

Posted on Jul 13, 2010 READ MORE



AP / Richard Drew

Bank Shares Zoom in Wake of Regulation Deal

Bank stocks had a surprisingly good day Friday, outperforming the rest of the market after it became clear that financial reform legislation hammered out in Congress would not meddle with precious bank profits.

Posted on Jun 26, 2010 READ MORE



AP / Richard Drew

Wall Street Reform Bill Nailed Down

After a marathon final negotiating session, Congress has cobbled together a historic overhaul of financial regulations for Wall Street. The bill is expected to win final approval next week and land on President Obama’s desk.

Posted on Jun 25, 2010 READ MORE


What Rand Really Believes

Rand Paul, tea party flavor of the month, is said to be avoiding “overexposure.” When he emerges from hiding and explains his most extreme positions, even many Republicans may think twice or three times before they vote for him.

Posted on May 27, 2010 READ MORE



U.S. Coast Guard / CPO John Kepsimelis

EPA Weighs Sanctions Against BP

Officials at the Environmental Protection Agency are considering whether to bar BP from receiving government contracts, a move that would ultimately cost the company billions in revenue and could end its drilling in federally controlled oil fields.

Posted on May 25, 2010 READ MORE



Flickr / epicharmus (CC-BY)

Making Sense of the Financial Reform Bill

The Senate passed on Thursday what The Wall Street Journal described as “the most extensive overhaul of financial-sector regulation since the 1930s.” The New York Times breaks down what’s in the bill and how it might change when reconciled with the House version. Worth noting: Democrats Russ Feingold and Maria Cantwell voted against the measure.

Posted on May 21, 2010 READ MORE


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