Posted on 06/27/2012 9:04:38 PM PDT by neverdem
“Given that we recently had a 5+ earthquake near Mineral, Virginia, and a nearby nuclear plant, I am not sorry that there are at least some government regulations. I’ll bet the Japanese wish there had been more.”
I tend to agree with you. The only worse than having the government continually nag the nuke industry is to leave them alone and let them decide how many meltdowns a year is an acceptable “attrition rate”, as they would call it. I’ve met these operators, the guys in upper management, and that is EXACTLY how they think.
It’s really no different than when the government stopped regulating banks, the same types of people went wild and made loans like crazy that they ALL KNEW would never get paid back per their terms. There are simply some areas of life where unbridled capitalism doesn’t work - not many, but some.
Restarting the nuclear power generating industry is the only thing the Obama administration has done right in almost 4 years. There are many things about nuclear power that most don’t know. If you are more than 300 feet from a nuclear reaction, it won’t affect you. That is the length of the longest wave. For it to affect you, something else has to be introduced, such as radioactive atoms being Transported by wind or water toward you. Nuclear power is not that dangerous. If it were, ships would not have reactors on board.
If the greenies want us to all drive those plug in cars that are only good for a max of a 30 mile commute, then they better step out of the way as we build more nuclear plants.
I hope to warm my Chicago home with one of Rossi's reactors. Are they available at WalMart yet?
I missed that, you have a link?
Fighting the lawsuits and overregulation alone is probably 40% of the cost of nuke power.
Give me a ping when someone indicts Jon Corzine on a charge of stealing 1.6 gigabucks.
I’m pretty sure there is a law against stealing 1.6 gigabucks.
So am I.
But if it’s not enforced, it’s just ink on paper - not “regulation”.
Like I said, give me a ping when the government does anything to deter people from stealing 1.6 gigabucks.
I won’t be holding my breath.
Also, several county officials of Jefferson County, AL went to prison for accepting bribes in the catastrophically-botched financing of their new sewer system.
None of the bankers who paid the bribes went to prison.
Is it no longer illegal to bribe government officials? Or is it just that laws prohibiting bribery of government officials are no longer enforced ... if you’re a banker?
According to the above link, 21 people and 5 companies were convicted.
White is the last to be sentenced among 21 people and five companies convicted in connection with two federal probes into the construction and financing of the sewer system project. Also convicted in the probes were former Jefferson County commissioners Larry Langford, Chris McNair and Mary Buckelew.
Based on this comment, 4 commissioners were convicted. None of the other 17 were bribe payers? Are you sure?
Further research suggests some of those convicted worked for construction companies building the sewer.
JP Morgan, the bank, as a corporation appears to have been fined. The corporate fine is essentially just a “cost of doing business”, like the electric bill.
I find no evidence, however, that the persons employed by JP Morgan that actually paid the bribes were in any way punished.
If you have evidence to the contrary, I’d love to see it.
Last fall former Birmingham Mayor Larry Langford was convicted of corruption charges involving the refinancing of sewer bonds while he was a Jefferson County commissioner. Montgomery investment banker Bill Blount and former lobbyist Al LaPierre also pleaded guilty as part of a scheme to bribe Langford to get the bond business for Blount's firm.
Looks like at least these bribers got some time.
As far as I can find, they're still going after Charles LeCroy and Douglas MacFaddin.
I suppose the matrix of bribers and bribees is a closely-held secret.
From Wikipedia: “The SEC has awarded the county $75 million in compensation relation to “unlawful payments” against JP Morgan and in addition the company will forfeit $647 million of future fees.”
No indication, though, that any individuals at JP Morgan have seen any judicial adverse consequences.
The investment banker and lobbyist are in jail.
As far as I can find, they're still going after Charles LeCroy and Douglas MacFaddin. Those are the former JP Morgan employees.
“I missed that, you have a link?”
No prob, I should have included it, sorry...
http://en.wikipedia.org/wiki/Gramm%E2%80%93Leach%E2%80%93Bliley_Act
It doesn't show the government stopped regulating banks. Are you sure that's what it did?
“It doesn’t show the government stopped regulating banks. Are you sure that’s what it did? “
You’re welcome. Yea, in effect, it told them that the government was through questioning their judgement...Option ARMs started becoming mainstream almost to the day it passed, and the rest was history.
The great thing about Unicorn Farts is they seem to be completely free of methane.
....
Hmm, sounds like they don’t stink either.
Could you highlight the part that says that? Thanks.
Option ARMs started becoming mainstream almost to the day it passed, and the rest was history.
Glass-Steagall didn't prevent Option ARMs. Or losing money on crappy mortgages.
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