Posts Tagged ‘regulations’

America will be no more under Obama

October 28, 2010 Comments off

Bernanke wants more action!

October 16, 2010 Comments off

Reuters recently released an article detailing what was said by the Federal Reserve Chairman Ben Bernanke during his talks at the Financial Stability Oversight Council. What the article doesn’t tell you is that these meetings and this oversight council, were happening and created respectively for the H.R.4173 – Dodd-Frank Wall Street Reform and Consumer Protection Act. The bill was passed in the House of Representatives in 2009 and was effectively signed into law July 21, 2010. The Financial Stability Oversight Council (FSOC) also studies and reports on the effects of the regulations by the Consumer Financial Protection Agency (CFPA).

Bernanke warned a prolonged period of high unemployment could choke off the U.S. recovery and that the low level of inflation presented an uncomfortable risk of deflation, a dangerous downward slide in prices.

“There would appear — all else being equal — to be a case for further action,” Bernanke said at a conference sponsored by the Boston Federal Reserve Bank.

With overnight interest rates already close to zero, many economists expect the Fed to launch a fresh round of bond purchases, perhaps on the order of $500 billion, to push borrowing costs lower at its next policy meeting on November 2-3.

Prices for longer-dated U.S. government debt fell after Bernanke’s remarks as investors bet the Fed would be successful in generating more inflation. Stocks were mixed while the dollar briefly hit an eight-month low against the euro.

Oil Spill Commission and how government functions

October 6, 2010 Comments off

The National Commission on the BP Deepwater Horizon Oil Spill and Offshore Drilling released four papers.ref The two important papers are: Decision-Making Within the Unified Command and The Use of Surface and Subsea Dispersants During the BP Deepwater Horizon Oil Spill.

Oil Spill, Gulf of Mexico 2010

The first paper essentially concludes, the response was to slow and generally did not scale well. It was stubborn from the outset, misunderstanding the flow, horrible in the intermediary as it was not able to establish a framework of interagency cooperation and scientific expertise. And in the conclusion those who seem in position to take credit actually mismanaged the campaign, not incident, are the same people who botched the process.

There must be adoption of systems that are fully managed in hierarchical structure, with clear command and subordinate structures in place. These are utilized by regulation agencies to interact and coordinate with the government. In reality the systems in place are rigid, not fluid, and stubborn to be fully implemented or appreciated.

Why can’t the government merely use structures effectively that are there? I suppose its the same reason why the government cannot appreciate and effectively use the preexisting Constitution framework as well.