A colleague with an encyclopedic knowledge of the economy told me recently that he did not have a good feel for energy deregulation. My friend thought its obscurity may have been planned by the industry.
We can't assume that companies like BP and Halliburton will spend the time and money to ensure environmental safety, just like we have learned the hard way that Wall Street will not safeguard our life savings.
Today upwards of three-quarters of the work of federal government, measured in terms of jobs, is contracted out. This has been part of a fundamental redesign of governing towards privatization and industry self-regulation.
The West Virginia mining disaster was caused by deregulation. The CEO of the Massey Energy literally bought himself a judge. Corrupted absolutely, 29 dead later. This is the Reagan Revolution coming home to roost.
Some version of Wall Street reform is going to pass the Senate this week, but before it does, there are still three crucial battles to be waged, all of which would significantly change the way Wall Street does business.
Hold on, let me get this straight: Bush gave the keys to the castle to a marauding bunch of plunderers by gutting every regulatory commission known to man -- and now the country seems ready for the Republicans again? How quickly we forget.
There are two consumer protection amendments getting serious attention on the Senate floor this week, one of them positive, one of them incredibly destructive -- the kind of amendment that can actually sink the bill if adopted.