Skip to main content

Transparency and accountability are good things ... except for me

From the LA Times:

Reporting from Washington -- The Obama administration this week will propose the most significant new regulation of the financial industry since the Great Depression, including a new watchdog agency to look out for consumers' interests.

Under the plan, expected to be released Wednesday, the government would have new powers to seize key companies -- such as insurance giant American International Group Inc. -- whose failure jeopardizes the financial system. Currently, the government's authority to seize companies is mostly limited to banks....

In addition, the administration wants to impose regulation over the market for derivatives -- the murky financial contracts used to hedge risky investments -- including new reporting and disclosure requirements. Institutions that originate loans would be required to retain 5% of the credit risk when the loans are turned into securities.


From MSNBC:

The Obama administration is fighting to block access to names of visitors to the White House, taking up the Bush administration argument that a president doesn't have to reveal who comes calling to influence policy decisions.

Despite President Barack Obama's pledge to introduce a new era of transparency to Washington, and despite two rulings by a federal judge that the records are public, the Secret Service has denied msnbc.com's request for the names of all White House visitors from Jan. 20 to the present. It also denied a narrower request by the nonpartisan watchdog group Citizens for Responsibility and Ethics in Washington, which sought logs of visits by executives of coal companies.


I will leave you to connect the dots.
Labels:

Comments

tom said…
The Federal Reserve doesn't seem to be too fond of transparency and accountability either. Ron Paul's bill calling for an audit has them so scared that they have hired a lobbyist to oppose it!

The good news is that with 232 co-sponsors as of today, H.R.1207's passage in the House is virtually guaranteed.

Unfortunately the Senate version S.604 only has three sponsors so far. It's time to start reminding our Senators that they represent the interests of the States, not the Federal Reserve Banks, and that their constituents are being looted & pillaged by the Fed's irresponsible expansion of the money supply.
June 18, 2009 at 1:55 AM
Post a Comment

Popular posts from this blog

A Libertarian Martin Luther King Jr. Day post

In which we travel into interesting waters . . . (for a fairly long trip, so be prepared) Dr. King's 1968 book, Where do we go from here:  chaos or community? , is profound in that it criticizes anti-poverty programs for their piecemeal approach, as John Schlosberg of the Center for a Stateless Society  [C4SS] observes: King noted that the antipoverty programs of the time “proceeded from a premise that poverty is a consequence of multiple evils,” with separate programs each dedicated to individual issues such as education and housing. Though in his view “none of these remedies in itself is unsound,” they “all have a fatal disadvantage” of being “piecemeal,” with their implementation having “fluctuated at the whims of legislative bodies” or been “entangled in bureaucratic stalling.”   The result is that “fragmentary and spasmodic reforms have failed to reach down to the profoundest needs of the poor.” Such single-issue approaches also have “another common failing — ...
44 comments
Read more

Libertarian National Committee Deathwatch Part 1

As the LNC continues to lurch towards collapse, with the latest news of mass layoffs at HQ, I've decided to begin tracking those things leading the national party to irrelevance, even as state and local parties gain power. As news, rumors and rhetoric break out, I shall chronicle them in this ongoing series at Delaware Libertarian. Organizations approaching failure have a number of characteristics. One of the most striking is renunciation of their purpose and effort to reinvent themselves as a "me-too" provider of services in the marketplace. In this, the LNC has been on a collision course with destiny for a while now. Recently, for example, it hired Republican Party web site developer TerraEclipse to redesign the LNC web site . Terra created a web site very similar to those of the clients it brags most about -- far-right Republican conservatives like Tom McClintock and BJ Lawson. A quick look at the web site they built for the LNC is instructive. The tagline on the ...
22 comments
Read more

The disturbing decline of the Delaware blogosphere: a very unfortunate Around the Horn (even if it's not Friday)

I've noticed a change in my own blog-checking habits over the past several weeks, and I don't know if it's just me or the reality of the last month of a divisive political campaign. I automatically used to check out Delawareliberal first and several times a day, because it was where I could find edgy, thought-provoking, and (dare I say it) funny banter going on. These days visit several other spots first, and my visits to DL are both shorter and less engaged. Why? Because the combination of invading neo-con commenters with the stridency of some of the major contributors has led to such pleasant exchanges as a post dedicated to labeling another blogger racist by donviti, whose own sense of provocative humor is generally so far out there that he makes John Belushi doing Samurai bartender on the SNL look positively pro-Asian. Or I can find Delawaredem and jason periodically spewing the idea that anybody who is not a liberal or progressive Democrat is somehow a non-American,...
26 comments
Read more