Since the beginning of his presidential campaign, I noticed something about Obama’s style of oration (and I’m not the only one). He has sweet, flowery, and yes, powerful words, but they are devoid of substance. His locution is very much in the vein of the daily newspaper horoscopes, which are so vague that they can apply to just about any reader–depending on how the reader interprets it. Obama care is everyone’s everything.
He has stated, correctly, that people on all…
Twitter can be very useful. Walter Olson of Overlawyered.com sent out a tweet this morning about an Amazon list of toys that will be affected by the Consumer Product Safety Improvement Act of 2008, which comes into effect February 10. This new law aims to protect children from the harmful effect of lead in toys, but does so, as usual, in an expensive and ham-fisted way that ignores unintended consequences. Intrigued, I researched further and found a classic tale of regulatory incompetence, but…
…is the title of a useful contribution to the discussion from the International Policy Network in London and the Lion Rock Institute in Hong Kong. Their recommendations for finding a way out of the financial mess are worth attending to:
– Better mechanisms are needed to manage the failure of large financial institutions, some of which may now be both too big to fail and also too big to rescue.
– Open ended guarantees to depositors and other counterparties are expensive and…
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