Chamber of Commerce
Cry Wolf Quotes
The Chamber said that the proposed legislation would [Amending the Clean Air Act would ] vastly increase the cost and complexity [of the law by more than $20 billion a year]
The Act broadly authorizes the Secretary to grab any police powers in the occupational health and safety fields that are now held by states. State safety officials could be forced to report directly to the federal Secretary when he says so.
The class-action bill would open a happy hunting preserve to ambitious lawyers with a quick eye for the plump bird. They are not likely to be much concerned with fraud in the ghetto: No money there. But has a major manufacturer gotten a little too exuberant in his advertising? Has he promised a ‘benefit’ that may not be fully deliverable? Well, then, let us find 10 customers ready to say they’ve been damaged, and let us sue in the name of 10,000 more.
I submit, however, that no man who himself has any practical acquaintance with business processes and methods who is not utterly blinded by partisan political considerations can examine the Securities Act, the Stock Exchange Act, the successive revenue acts in recent years, the Social Security Act, the Public Utilities Act, the Tennessee Valley Authority Act and many of the arbitrary regulations devised under a dozen other recent acts and arrive at any verdict other than they cripple and retard business rather than help revive it. The fact is even so clear that it is hard to keep from wondering if such a result were not actually intended.
Backgrounders & Briefs
As the nation approaches the first anniversary of the Dodd-Frank financial reform law, opponents are claiming that the new measure is extraordinarily damaging, especially to Main Street. But industry’s alarmist rhetoric bears striking resemblance to the last time it faced sweeping new safeguards: during the New Deal reforms. The parallels between the language used both then and now are detailed in a report released today by Public Citizen and the Cry Wolf Project.