Tag: regulations
New Regulations Won’t Stop the Next Bank Collapse
“whether SVB’s situation would have been different had these regulations remained in place is highly questionable. “You knew just by looking at this bank that it was growing at exceptionally rapid rate, which should have been a red flag to look at,” Thomas Hoenig with the Mercatus Center at George Mason University told Marketplace. “So I don’t blame it on so much on the rollback of Dodd-Frank. I blame it on the fact that the bank management didn’t understand the fact that interest rates change and they need to be managing their portfolio accordingly.”
Besides, even without the stricter rules, bank regulators still could have acted but did not. So, the idea that new regulations are needed to stop the next midsize bank collapse is suspect, to say the least.”
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“”It appears that the leading causes of the failure of Silicon Valley Bank were managers who maintained a woefully under-diversified asset sheet, and a small group of investors who sparked a panic that led depositors to withdraw money at a rate that would be unsustainable for any bank,” said Sen. Chris Coons (D–Del.) in a statement. “SVB was subject to federal and state supervision, and it’s not clear what additional regulatory requirements might have yielded a different outcome.””
State Lawmakers Help Farmers by Improving Consumer Access to Raw Milk
What banning noncompetes could mean for the US workforce
“A 2014 survey of economists found that nearly 20 percent of workers have noncompete clauses in their contracts. That number is more likely 50 percent for people in high-skilled and high-tech jobs”
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“Marx added that these agreements don’t just specify that you can’t share a specific company’s secrets, but are often interpreted more broadly so that a person can’t use skills they had prior to working at that company — something he said can be debilitating to high-skilled workers and entrepreneurs.”
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“Detractors of noncompete clauses say the agreements prohibit workers from getting jobs with competitors or even within the same industry. In doing so, they restrict job mobility and prevent workers from being able to push for higher wages, since changing jobs is often how workers get higher pay. These clauses can send them on lengthy job searches or even “career detours.””
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“Pro-employer groups like the US Chamber of Commerce have argued that noncompete clauses can actually be pro-competitive because they protect an “employer’s special investment in, training of, and disclosure of sensitive business information to its employees.” In a statement released shortly after the FTC’s announcement, the organization called the rulemaking “blatantly unlawful” since it says the FTC doesn’t have the authority to promote the rule. “When appropriately used, noncompete agreements are an important tool in fostering innovation and preserving competition,” the Chamber said in an emailed statement.”
New York’s restrictive gun laws didn’t stop the Buffalo shooter
“Nineteen states and Washington, DC, currently have red flag laws, otherwise known as extreme risk protection laws. It’s a form of gun control that even Republicans have endorsed, including some red-state governors, former President Donald Trump, and South Carolina Sen. Lindsey Graham. Connecticut was the first to enact such a law two decades ago, but the rest were passed in the last six years.
The more modern laws follow a similar formula, modeled after domestic violence protection orders. Certain people can petition for an extreme risk protection order from a court — a civil, not criminal mechanism that would prevent an individual from legally possessing or purchasing a gun for up to one year and allow police to seize their firearms for that period.
In most cases, it’s the police who initiate the petition against individuals who have a criminal history, who have made threats of violence, or who present other behavioral risk factors. But in some states, family members of the individual, health professionals, and school administrators can also do so. Should the individual continue to present an immediate danger to themselves or others, the petitioner can go back to the court after the year is up and seek another order.
The intention of these laws isn’t to criminalize people; it’s to stop guns from falling into the hands of those who have exhibited heightened risk of violent behavior and who don’t otherwise meet the threshold to be charged with a crime or involuntarily committed.”
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“There have been some jurisdictions — including in San Diego; King County, Washington; and Broward County, Florida — that have put resources toward creating dedicated law enforcement units that petition for such orders, but they are the exceptions. King County, for example, used a protection order to seize firearms from the alleged leader of a neo-Nazi group in 2019.
“What we’re seeing is that where you have that robust training, you have people who are dedicated to this, this is their job or a good part of their job, we see better success,” Horwitz said. “The laws don’t self-execute. These are very new laws. We need to make sure that we support them.””
Florida’s War on Drag Targets Theater’s Liquor License
“Conservative government scolds in Florida are making good on a Christmas threat against an Orlando performance venue and are trying to revoke its liquor license because it let minors attend a bawdy drag show with their parents.
Florida’s Department of Business and Professional Regulation filed an administrative complaint Friday against the Orlando Philharmonic Plaza Foundation, which operates The Plaza Live theater in Orlando. In December, The Plaza Live hosted A Drag Queen Christmas, a touring stage show of risqué drag performances with holiday themes.”
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“For naughty Christmas lyrics, the state is threatening a business’s liquor license. The complaint charges six counts of violating state indecency regulations, all based on allowing children to attend.
The scant photo evidence the state includes in the complaint further substantiates the claim that the war on drag queens is a politically driven moral panic. To the extent that the show is indeed sexual, as with any other form of entertainment with adult content, parents and venues are well-equipped to decide for themselves whether to bring their children. It’s not a role the state should be deciding, and in so many other cases, the state does not.
Despite making a big deal about supporting parents’ rights in education, Gov. Ron DeSantis does not think parents should have the right to decide what kind of entertainment their children should consume.”
Joe Biden, Travel Agent in Chief
“These are the sorts of proposals that sound good in theory—who wouldn’t want to pay less in junk fees? But some of these fees exist for good reasons. (Late fees, for instance, encourage people to pay their bills on time, which is good for both credit card companies and for users, who will otherwise rack up more interest to pay back.) And in any event, companies aren’t simply going to say, “OK, we’ll just make less money.”
Hotels may respond by raising base room rates or charging new fees for typical amenities. Airlines that can’t charge for choosing your seat may raise base ticket prices, baggage fees, or other costs. Banks that can’t fine people for overdrawing their accounts may raise rates for opening an account, require higher minimum balances, or deny more people bank accounts to begin with. Credit card companies that can’t charge late fees may deny more lines of credit or charge higher interest rates. And so on.
All the Biden administration is really doing is shifting people’s costs around.”
New York Gov. Kathy Hochul’s Housing Plan Avoids Common Mistake of Other YIMBY Reforms
“New York has some of the most restrictive local zoning regimes in the country, resulting in rock-bottom rates of housing construction and sky-high prices.
Now, Democratic Gov. Kathy Hochul is proposing to fix this sad status quo by allowing developers to bypass city and town zoning codes altogether and get their housing projects approved directly by a fast-tracked state process.
“Through zoning, local communities hold enormous power to block growth,” said Hochul in her annual State of the State address yesterday. “People want to live here, but local decisions to limit growth mean they cannot. Local governments can and should make different choices.””
Zoning Police Continue To Find New Ways To Punish the Poor
“Some people live together by choice. Others share space out of necessity. Lack of affordable housing forces many families to adjust, but the zoning police remain rigid in Cobb County, Georgia.
Even during a nationwide housing crisis, code enforcers northwest of Atlanta continue to enforce a narrow vision of suburbia. One rule limits overnight parking based on property size. Families can have one car for every 390 square feet of living space, which effectively prevents more than two vehicle owners from living together in a 1,000-square-foot unit.
Teen drivers are out of luck. So are adult children, college students, mothers-in-law, and any guest who stays longer than one week. The city does not concern itself with individual circumstances, nor does it care if vehicles remain in good condition with current tags. It counts newer models and clunkers the same.”
Google’s Brief to the Supreme Court Explains Why We Need Section 230
“”If Section 230 does not apply to how YouTube organizes third-party videos, petitioners and the government have no coherent theory that would save search recommendations and other basic software tools that organize an otherwise unnavigable flood of websites, videos, comments, messages, product