Expanding their Empire?

The SEC—the Securities and Exchange Commission—doesn’t have enough power; it wants to convince more private companies, over which it has no jurisdiction, to go public so it can regulate them, too?

To spur more companies to go public, the new head of the Securities and Exchange Commission has turned to a veteran Silicon Valley lawyer whose career has involved some of the biggest deals in history.

SEC Commissioner Jay Clayton seems to be sincere in this effort, but he won’t be around forever, and his predecessor had different regulatory ideas, and so likely will his successors.

Then there’s this:

Going Soft

Senate pseudo-Republicans are balking at one good item that was contained the House-passed American Health Care Act: repeal of Obamacare’s trillion dollars’ worth of taxes.  These guys actually don’t see the value of that repeal.  Senator Susan Collins (R, ME) is typical:

I don’t see how you can repeal all of the pay-fors…and still meet the goal of providing health-insurance coverage for people who truly need assistance[.]

Aside from the false premise of needing Federal government “pay-fors” as a default position, rather than a last result, the Lady from Maine and her fellows plainly either don’t understand free market principles, or they have no confidence in free markets.

Getting Rid of Federal Government Rules

A couple of random thoughts triggered by a Wall Street Journal article.  The Republican Congress has been using the Congressional Review Act to rescind rules enacted by various Executive Branch agencies.  The Act allows Congress, by simple majority vote (no Senate filibuster) and Presidential signature to rescind rules so long as the rescission is done within 60 days of the rule’s promulgation in the Federal Register or formal reporting to Congress.  There are potsful of rules that haven’t yet passed that threshold, and so Congress can reach back years for rescissions under the Act.

Senate Democrats have insisted the rules have lengthy debate time….

The Durbin Amendment and Price Fixing

Senator Dick Durbin (D, IL) added to Dodd-Frank an amendment that mandated the maximum price large banks could charge merchants who process debit-card payments.  The House’s Financial Services Committee, in marking up Chairman Jeb Hensarling’s Financial Choice Act, included repeal of the Durbin Amendment.

Naturally, Durbin has demurred, and he did so, among other place, in a Letter to the Editor of The Wall Street Journal.

An Example of the Climatistas’ Political Failure

Neil deGrasse Tyson in some recent remarks:

when it comes time to make decisions about science, it seems to me that people have lost the ability…to judge…what is true, and what is not.  What is reliable, what is not reliable.  What should you believe, what should you not believe.

And

When you have people who don’t know much about science, standing in denial of it, and rising to power, that is a recipe for the complete dismantling of our informed democracy.

Social Security Trust Fund Investing in the Stock Market

The Wall Street Journal held one of its aperiodic debates last Sunday, this time on whether the Social Security Trust Fund should be allowed to invest in stocks.  One debater argued that such investing would reduce the need for dependence on benefit cuts or tax increases; the other claimed that government should stay out of the market.

It’s certainly true that investing in the stock market could produce better returns than the Trust Fund’s current requirement to invest wholly in (unmarketable) Federal debt instruments.

YGTBSM

This episode is from Newark Mayor Ras Baraka (D).  He claimed last Sunday, with a straight face that

Attorney General Jeff Sessions is “targeting” mayors like himself, and intimidating them into being “fugitive slave catchers that run around and do their bidding in our cities.”

Milwaukee County, WI, Sheriff David Clarke was more polite than I:

I’ve heard a lot of stupid things [but] comparing fugitive slaves to illegal immigrants is the gold standard of stupidity[.]

I say, rather, that Baraka’s TDS has turned him into an irrational election-denier.

Contrasts

As the Trump administration begins to shape its policy on drugs, tension is growing between a treatment-focused approach, embodied in a new commission on opioids headed by New Jersey Gov. Chris Christie, and the aggressive prosecution of drug crimes promised by Attorney General Jeff Sessions.

There need there be no tension because there is no contradiction.  The two approaches—nail hard those who prey on the vulnerable and the addicted—and working to free the addicted from the controls of their addiction (“free from the controls” because an addict never loses his addiction; he can only reach a point where he can say reliably, “not today.”  That’s where current medical technology has us) rather than simply jailing them, too, potentiate each other.

Continued Veterans Administration Failure

Dr Dale Klein is, formally, on the Veterans Administration payroll—to the tune of a $250,000/yr salary—but he’s not employed by them, and so his pain management skills are actively denied our veterans who would benefit from them.  Klein blew the whistle on his proximate employer’s—Southeast Missouri John J Pershing VA facility—secret waiting lists and wait time manipulation practices.  Now he’s shunned by his employers and banished to a room by himself where he’s denied access to his patients and patients are denied access to him.

Another Assault on US Intellectual Property

Beijing has proposed requiring cloud-computing services providers to turn over essentially all ownership and operations to Chinese partners and could result in the transfer of valuable US intellectual property, according to the letter, viewed by The Wall Street Journal.

Not “could result”—technology theft transfer is the point of the requirement.  This comes against the backdrop of the People’s Republic of China’s ongoing technology requirements.

China already places restrictions on investing for foreign cloud providers operating in the country under rules passed in the last two years…including forced collaboration with rivals and technology transfer.

Is the PRC market really worth these losses?