Free Republic

[You may have to play around a bit to get the video to operate. Make sure you click "Full Program" or you might just get a 2-minute clip.] This 30 minute video (including about 17 minutes of Q & A) from several months ago is Richard Epstein's analysis of the bill proposed by the House. But the main regulatory features of that bill are the same as the one just passed by the Senate. The gist of Epstein's lecture is that the total effect of these insurance regulations is to kill private health insurance, so we will eventually all end...

Instead of “blackmailing” Congress, President Obama is “greenmailing” Congress by forcing them to comply with his order that the Environmental Protection Agency (EPA) regulate greenhouse gasses. But Congress—an institution not known to give up power without a fight—has yielded to the president prematurely. In fact, already Congress has enacted legislation that limits the regulatory power of the EPA. Last summer, Rep. Todd Tiahrt, (R-Kansas) passed an amendment to the EPA appropriations bill establishing that “none of the funds made available in this Act or any other Act may be used to promulgate or implement any regulation requiring the issuance of...

Last week the U.S. House of Representatives passed Barney Frank’s financial regulatory reform bill, or as Democratic Congressman Brad Sherman called it, “TARP on Steroids.” Instead of examining and addressing the root cause of the financial collapse so that we may ensure it never happens again, this bill codifies the bailout mindset.

Unemployment is over 10 percent, the national debt is bigger than ever, the dollar is sinking, Iran is getting nukes, and we have troops in combat without a plan for victory. Amid all this tumult, Congress has focused its attention on regulating college football. It's offensive that the political class has decided to fiddle while America burns. The United States used to be the land of freedom. Now, however, federal regulations dictate how many gallons of water our toilets and washing machines can use and the miles per gallon our cars must get. Proposed legislation is targeting what freedom still...

There is truly no greater hypocrisy than Washington hypocrisy, and never has that been so true then it has been with the current White House administration. Since taking office, President Barack Obama has made multiple hypocritical statements in his various teleprompter readings and interviews. His weekly address this past Saturday was no exception to that rule.

The National Shooting Sports Foundation has notified members that, as demand for ammunition continues to outpace supply, "it is critically important that an amendment authored by Rep. Sam Graves (R-Mo.) to a seemingly obscure hazardous material bill (HR 4016) be attached to the legislation during consideration on the House floor." The NSSF notes that the amendment being pushed by Graves will help protect the shipment of materials necessary for the manufacturing of ammunition, and warns that without the Graves Amendment, the rate of production will slip, perhaps precipitously. In turn, decreased production of ammunition will lead to decreased availability. This...

  College football playoffs bill passes subcommittee By Jordan Fabian - 12/09/09 03:17 PM ET A bill that encourages major college football to create a playoff system to replace the Bowl Championship Series (BCS) passed a House subcommittee on Wednesday. The bill passed the Commerce, Trade and Consumer Protection Subcommittee by voice vote on Wednesday morning after a markup session. It is now up to House Energy and Commerce Committee Chairman Henry Waxman (D-Calif.) to bring it before the full committee. The bill’s sponsor, Rep. Joe Barton (R-Texas), told The Hill on Tuesday that Waxman has told him in private...

The embattled community group ACORN could help regulate the financial services industry under new financial regulatory reforms, said Rep. Michele Bachmann (R-Minn.) on Wednesday. Bachmann, a consistent opponent of ACORN (Association of Community Organizations for Reform Now), said that an amendment given in the House Financial Services Committee could allow the group to sit on an advisory panel that monitors the regulations. “ACORN may have a seat at the table being on the oversight committee regulating the financial services industry of the United States,” Bachmann said at a press conference. “And that would be a cruel joke." Bachmann’s remarks come...

Back door gun registration is being proposed for Wisconsin by Senators Coggs, Taylor and Lassa; Representatives Richards, Staskunas, Turner, Young, Sinicki, Berceau, Colon, Grigsby, Fields, Pasch, Kessler, Zepnick and Toles. SB 367 is yet another attempt to infringe upon lawful gun owners in Wisconsin by making it a crime not to report a lost or stolen gun within 48 hours of discovering the loss or theft. I am not clear how anyone will know if a stolen gun that shows up at a crime scene just 5 hours after it was stolen is your gun or to whom it belongs....

During the first year of the Obama administration, conservatives have directed much of their fire on the major legislation the president is pushing through Congress. This concern is justifiable, as Democrats are moving bills aimed at taking over the nation's health care system, creating a national energy tax to limit carbon emissions, and enabling unions to rapidly add members by denying workers a secret ballot on unionization. But as critical as it is for the right to expose the damaging consequences of such major legislation, conservatives must not lose sight of the fact that there is more than one way...

NICOLE GELINAS Global Finance’s State of Nature Ambitions for a new world order are no match for national interest. Sarkozy put pressure on us,” reports a nonplussed banker to a colleague in a recent French-newspaper cartoon, referring to the French president’s campaign against financial-industry bonuses. “And then what?” his colleague asks. “And then nothing,” is the reply. /snip National leaders are, in effect, competing over which country can offer its financial sector the most generous economic subsidy. This losing game ultimately hurts the financial sector—which needs market discipline to reward success and punish failure—and economic competitiveness as well. /snip Continuing...

I just received a newsletter from the water company that informed me that "fringe" enviros (yes they used the word "fringe" are behind this and if the court rules with them, my water bill will go up aproximately 70 percent. They also said this doesn't cover Cap and Trade reguluations, which will run up the bill even more. This is only in Florida. All Floridian's visit www.DontTaxFlorida.com for more info.

In a story that first surfaced Sunday in The Washington Post and was reprinted by FOXNews.com, President Obama’s subordinates have expressed a desire to get a grip on the nation’s rails. Administration officials cite poor management and lack of oversight as their reasons for taking over the light-rail industry, which leads me to wonder: could the American people take back the federal government using the same line of logic? Cities affected by the federal usurpation would include Chicago, New York, Atlanta, Los Angeles, and every other city, large or small, that uses a rail system, such as a subway. Washington...

Former President George W. Bush said America must resist the "temptation" to allow the government to take over the private sector. Do you think the government is too involved now? http://www.washingtontimes.com/news/2009/nov/12/bush-warns-threats-freedom-economic-growth/

The Obama administration has taken great pains to blame Wall Street for the woes of the financial system. Representative Barney Frank and Senator Chris Dodd have held numerous hearings, pointing fingers at greedy capitalists and unchecked, unregulated risk-taking. What they should be doing is pointing their fingers at the American financial regulatory system that the committees oversee. The rules of the game need to be changed so that the playing field is actually competitive. Structures need to be altered, and regulations written, so actual risk is being assumed or transferred when money is invested. Goldman now makes millions of dollars...

Rep. Frank Warns on Consequences of Overreacting; Regulators Fire Back Politicians are putting pressure on regulators to ease up on small community banks across the U.S., a move some say could increase the cost of cleaning up the financial crisis. Last week, House Financial Services Committee Chairman Barney Frank (D., Mass.) sent a letter to the country's top bank regulators, including Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corp. Chairman Sheila Bair, urging them to "show some temperance in their regulation of traditional banks." One common complaint from lawmakers is that regulators' tough examinations are making banks reluctant...

To appreciate the extent to which the Environmental Protection Agency under President Obama is a regulator reborn, consider this: EPA officials have begun to cut air pollution by invoking the Clean Water Act. Long quiescent under President George W. Bush, the agency is churning out initiatives and regulations at a pace that pleases its friends in the environmental movement and frightens many in the business community. In the past eight months, the EPA has proposed eight major new regulations for air pollutants that would strengthen the nation's clean air laws almost overnight. In contrast, in the first eight months of...

In mid-August, the National Marine Fisheries Service closed down the red snapper fishery, then a couple of weeks ago they took away the greater amberjack with a week left in the Fishing Rodeo - Destin's longest running fishing tournament. I'm out here criticizing the 'do-gooder,' ” who thinks they are helping the fishery with the closures, Brunson said. “I call 'em educated idiots. They ought to listen to someone who's been fishing for more than 80 years.” “The amberjack is what tore me up,” said the 96-year-old Capt. Reddin “Salty” Brunson, who was sporting a protest sign attached to his...

There's nothing neutral about the Obama administration's push for net neutrality. Do you suppose that, periodically, an ad appears in the Washington Post that reads this way? Wanted. Congressional Legislation Naming Consultant (GS-9). Must be able to craft titles for legislation coming before the House and Senate. Must have a thorough understanding of the English language, and the ability to design titles counter-reflective of their intent. All applicants will be screened to assure no more than moderate recreational use of creative enhancement drugs. Preferential treatment will be given to those between 28-35 years of age who like comfort food. Comfort...

Barney Frank Frank: "We Are Trying On Every Front To Increase The Role Of Government" (Video)

A new bill in Congress to increase financial regulation would allow the federal government to seize institutions deemed “too big to fail” if Treasury saw a large enough risk of collapse. McClatchy reports that some on Capitol Hill have begun to refer to it as a “death panel” for banks, apparently more as a joke than a concern. Have any of them actually read the Constitution, especially the Fifth Amendment? Rep. Barney Frank, D-Mass., the chairman of the House Financial Services Committee, worked over the weekend and throughout Monday to draft the legislation. It would provide the government with first-ever...

Give Ed Schultz credit for something: on his MSNBC show this evening, he hosted an amusing smackdown between Barney Frank and Ralph Nader, perhaps the two most morose public men in America. For once, Barney was attacked from the left. The gist of Ralph's rebuke was that Frank hasn't gone far enough in regulating the financial industry. Frank was finally so provoked that he claimed/admitted that when it comes to regulation, Democrats are "trying on every front to increase the role of government." View video here.

US Is Seeking Tougher Powers In Too-Big-To-Fail Legislation Published: Monday, 26 Oct 2009 | 11:27 AM ET Text Size By: Albert Bozzo Senior Features Editor The Obama administration and House Democrats have made major changes to proposed legislation giving the federal government new powers to wind down the businesses of too-big-too-fail financial firms. The revised legislation, which is now being finalized, will be made public late today or early tomorrow, according to sources. The key changes in what is known as resolution authority affect compensation of creditors, shareholders and management, as well as the role of the Federal Reserve in...

U.S. Senator John McCain has introduced legislation that would block the U.S. Federal Communications Commission from creating new net neutrality rules, on the same day that the FCC took the first step toward doing so. McCain on Thursday introduced the Internet Freedom Act, which would keep the FCC from enacting rules prohibiting broadband providers from selectively blocking or slowing Internet content and applications. Net neutrality rules would create "onerous federal regulation," McCain said in a written statement. McCain protested the FCC's proposal that wireless broadband providers be included in the net neutrality rules. The wireless industry has "exploded over the...

An article that details the New York Court of Appeals case that dealt with the raising of rent amounts for a group of apartments in the Stuyvesant district. This is what happens when you institute a price floor (see comment for below) First three paragraphs: Tenants and landlords spent much of Thursday struggling to figure out what the state high court’s ruling on the future of Stuyvesant Town and Peter Cooper Village meant for all types of New Yorkers. Real estate moguls feared the news would cripple their industry, and tenants worried about their rents. Despite the lack of clarity,...

The Pittsburgh Post Gazette reports on a study released on-line in The Clinical Journal of the American Society of Nephrology which indicates that physiology, not public policy, determines a human’s daily sodium intake. This research likely represents a important step forward in light of past and current efforts by government agencies and government funded organizations to set progressively restrictive guidelines for salt intake among U.S. citizens.

The U.S. Environmental Protection Agency has proposed tough new measures to reduce the health toll from air pollution around the Great Lakes by forcing lake freighters to stop burning dirty bunker fuel. But the plan has an unusual opponent: The Canadian embassy in Washington has quietly asked the EPA to weaken the measures, arguing that they could harm trade. It wants ships to be allowed to continue using the high-polluting fuel and to instead install smokestack scrubbers that would clean up their emissions. The Canadian recommendation, if accepted, could delay the clean-air measure for years, because the technology for the...

press boxThe FTC's Mad Power Grab The commission's preposterous new endorsement guidelines.By Jack ShaferPosted Wednesday, Oct. 7, 2009, at 6:29 PM ET If you're a blogger and you write about goods or services—and what blogger doesn't write about books, movies, music, theater, restaurants, home theaters, laptops, manicures, clothing, tutoring, bicycles, cars, boats, cameras, strollers, watches, lawn care, pharmaceuticals, gourmet food, maid service, hair care, concerts, banking, shipping, or septic tank service from time to time?—then you've just made yourself vulnerable to an investigation from the Federal Trade Commission.In new guidelines (PDF) released Oct. 5, the FTC put bloggers on notice...

….the finance sector is worse than parasitic. In the title of his recent book, The Predator State, James Galbraith aptly names the problem. The financial sector functions as the sharp canines that the predator state uses to rend the nation. In addition to siphoning off capital for its own benefit, the finance sector misallocates the remaining capital in ways that harm the real economy…:

When Illinois Senator Everett Dirksen remarked a half-century ago, “A billion here, a billion there, pretty soon it adds up to real money,” it was said with a sense of irony. I offer this clarification because a billion dollars no longer has the impact that it once had. Now with a former senator from Illinois occupying the White House, the federal government is throwing trillions of dollars around as if it were nickels. Still, for the average taxpayer, whether it is billion dollars or a trillion dollars, it’s a mind numbing amount. When the Legislature approved $12.6 billion in new...

Yesterday, the Federal Trade Commission issued an 81 page document entitled “Guides Concerning the Use of Endorsements and Testimonials in Advertising” requiring bloggers who write testimonials about products to disclose gifts or payments they receive. So if a company sends you a dollar-store toy, you will be scrutinized by the government, regardless whether you were asked to post a review or not. Whether it be free review copies of books, trips to oil rigs, payments, t-shirts, whatever it is, you better disclose it, to Uncle Sam, or, as the Washington Post reports, you’ll be fined up to $11,000 in fines...

The Federal Trade Commission will try to regulate blogging for the first time, requiring writers on the Web to clearly disclose any freebies or payments they get from companies for reviewing their products. The FTC said Monday its commissioners voted 4-0 to approve the final Web guidelines, which had been expected. Violating the rules, which take effect Dec. 1, could bring fines up to $11,000 per violation.

Let the Progressive Democrats dream their redistributed wealth commie dreams because, sooner or later, reality always comes back to lay some serious bite marks on their asses. Democratic political committees have seen a decline in their fundraising fortunes this year, a result of complacency among their rank-and-file donors and a de facto boycott by many of their wealthiest givers, who have been put off by the party's harsh rhetoric about big business. Those currently in power in the Democratic party are from its Progressive fringe and that makes for a lot of rousing class warfare rhetoric during a campaign but...

William K. Black's Proposal for “Systemically Dangerous Institutions” /snip SDIs should: 1. Not be permitted to acquire other firms 2. Not be permitted to grow 3. Be subject to a premium federal corporate income tax rate that increases with asset size 4. Be subject to comprehensive federal and state regulation, including: a. Annual, full-scope examinations by their primary federal regulator b. Annual examination by the systemic risk regulator c. Annual tax audits by the IRS d. An annual forensic (anti-fraud) audit by a firm chosen by their primary federal regulator e. An annual audit by a firm chosen by their...

Americans who slap $1 pricetags on their used possessions at garage sales or bazaar events risk being slapped with fines of up to $15 million, thanks to a new government campaign.

TOKYO (Reuters) - Proposals by Japan's new ruling party to slash greenhouse gas emissions may trigger a shake-out in smokestack industries like paper, cement and steel, but boost firms investing in solar and other green technologies. A Democratic Party (DPJ) pledge to cut emissions by 25 percent from 1990 levels by 2020 is one of several proposals causing a stir across businesses. Another is a plan aimed at banning most temporary factory workers. Corporate executives say that could hit profits and push more investment overseas.

The first question we should be asking in the healthcare debate is: Why should anyone think that politicians would do a better job redesigning our healthcare than the free market? After all, politicians have helped create the problems (healthcare costs increasing at an unsustainable rate and a growing number of uninsured) that politicians now are in a hurry to try to fix. For example: Tax subsidies for employer-purchased insurance have encouraged the overconsumption of healthcare (because many employers have purchased insurance tantamount to prepaid healthcare), limited employees' choice of insurance plans to whatever the employer offers, and required employees to...

"Professor Lisa Jardine said that payments should be considered because a national shortage of donated eggs and sperm was driving infertile couples to seek treatment abroad, where large fees are permitted. British donors can receive only expenses, plus up to £250 for lost earnings. Any such move would have to comply with the 2004 EU Tissues and Cells Directive, which restricts the circumstances in which money can change hands for sperm and eggs. The directive requires that governments “shall endeavour to ensure voluntary and unpaid donations of tissues and cells” and states that compensation “is strictly limited to making good...

THE most ominous domes tic event of the 1970s was the collapse of self-gov ernment in New York City, which before being put into receivership by the state was liberalism's laboratory. Since then, California has been the slate on which liberalism boldly writes its recipe for decline -- high taxes, heavy regulation, subservience to public-employee unions and environmentalism that is simultaneously apocalyptic and chiliastic. Because California's calamitous present -- creative accounting as a rickety bridge to the next budget crisis -- might prefigure the nation's future, next year's gubernatorial election is portentous. An intriguing candidate is Tom Campbell. Colorful he...

PRESIDENT Obama and his allies in Congress seem to have decided that the best way to fix the private health-insurance market is to break it completely. Polls have prompted them to shift from health-care reform to "health-insurance reform." Combine this with a government-funded, -regulated and an ultimately -controlled "co-op" system, and the nation will arrive by local roads at the same destination that the public rejected via the expressway: an out-of-control health-care system dominated by federal bureaucrats and funded by increasingly high taxes. The irony is that private insurance works well where it's least regulated. To find the unaffordable disasters,...

PRESIDENT Obama and con gressional Democrats are now fixing their gun sights on health insurers, but their broader, underlying goals remain unchanged: socializing costs and extending Washington's control of the health-care sector. This takes what Obama told Joe the Plumber about "spreading the wealth" a step further. Because not only do the reforms redistribute wealth by shifting costs; they also put government in charge of spending even more of the nation's money. And they can do it via a "public option" or heavy insurance regulation and mandates. Follow along: Obama is now blasting insurers, claiming they "do nothing to improve...

CHICAGO (Reuters) - Exchange-traded funds or ETFs have become a top target in U.S. regulators' efforts to rein in excessive speculation in oil and other commodity markets, The Wall Street Journal reported on Saturday. Commodity ETFs, which came into existence in 2003, offer one of the few avenues for small investors to gain direct exposure to commodity markets. The funds pool money from investors to make one-way bets, usually on rising prices. Some say this causes excessive buying that artificially inflates prices for oil, natural gas and gold. Commodity ETFs have ballooned to hold $59.3 billion in assets as of...

A federal law banning lead and other toxic substances in products for children 12 and under has raised new concerns. Some libraries have pulled children's books that were printed before 1986 because lead was used in printer's ink before then. The Centers for Disease Control and Prevention says the chances of those books containing lead harmful to children is low. At least two libraries didn't want to take any chances and removed the books from their shelves. The Consumer Product Safety Commission interprets the new federal law to include books but hasn't weighed in on whether older books could cause...

Are our current health care costs unsustainable like the democrats say? I think so. Will either side come up with a solution to fix the problem? I doubt it. The democrats ask for a public, government-run insurance company to “compete with those evil private insurance companies,” and the republicans said “no, but lets compromise.” Now they are talking about non-profit co-ops to provide more insurance to people and the republicans are looking at that as a victory i’m sure.

The Commodities Futures Trading Commission (CFTC) wrapped up its hearings on whether to install position limits on futures trading this week, and like other hot topics being tossed around Capitol Hill, misinformation seems to be running rampant. One myth is that speculators only bet on prices going higher. The chart below shows both long and short futures positions for all commodities. While it's definitely not a one-to-one ratio, the chart shows that investing in futures is a two-way street, with investors lining up on both sides. Another myth is the overall size of the speculative market. According to a recent...

I can't resist. Because I see that the libtard website Firedoglake posted a hit piece on the perils of the free market, using the auction-rate securities market as a prime example, I have to respond. For one, because they're wrong, but there's nothing unusual about that. More importantly, when they're discussing the auction-rate securities market, they're kind of playing in my sandbox. And it seems like they brought a shovel, although it's not for digging sand, if you know what I mean.

ARE the "savings" promised for health-care reform wise ones? Some cost-savers just aren't worth it: Skipping a mammogram when you have a family history of breast cancer is a bad idea. Yet there are lots of bad ideas on the table in the health-reform debate. Patients are "going to have to give up paying for things that don't make them healthier," President Obama announced at his last prime-time press conference. "If there's a blue pill and a red pill, and the blue pill is half the price of the red pill and works just as well, why not pay half...

The message from Washington is clear and getting louder by the day. If you run a successful business you face excessive government regulations and higher levels of taxation for years to come. The more productive and profitable you become, the more you will be forced to pay for the privilege of operating in this country. This threat is real and it appears that many companies and business owners are taking steps to protect themselves. President Obama's anti-business and anti-competitive campaign messages made executives and business owners apprehensive even before the January 2009 presidential inauguration and the Democrats obtaining control of...

International financial services groups should be ex­cluded from the US market if they are based in countries that are havens from regulation, according to the head of a US congressional committee. Barney Frank, chairman of the House financial services committee, said he was concerned the new US push to regulate banks and brokers more rigorously could put it at a competitive disadvantage if other countries did not follow suit. As a result, he would like to ban US banks from doing business with countries not subject to similarly tough standards on everything from leverage limits and capital requirements to rules...

Treasury Secretary Timothy Geithner blasted top U.S. financial regulators in an expletive-laced critique last Friday as frustration grows over the Obama administration’s faltering plan to overhaul U.S. financial regulation, according to people familiar with the meeting. The proposed regulatory revamp is one of President Barack Obama’s top domestic priorities. But since it was unveiled in June, the plan has been criticized by the financial-services industry, as well as by financial regulators wary of encroachment on their turf Watch Video: http://butasforme.com/2009/08/04/geithner-goes-on-expletive-laced-tirade/