- Al Sharpton, Trayvon Martin’s parents rally against Fla. ‘stand your ground’ law
- Hillary Clinton campaign got illicit funds from D.C. scandal figure
- Obama administration backs off plan to cut prescription-drug program
- Tickets linked to stolen passports purchased by Iranian middleman
- More than 3,500 police planned for Boston Marathon
- Ottawa day care suspends 2-year-old for ‘outside’ cheese sandwich
- Liam Neeson tells NYC mayor to ‘man up’ in horse carriage fight
- Real-life Dr. Doolittle to reveal how to talk to animals
- Climate change could bring back smallpox, researchers say
- Shoe-bomb witness to speak from London at N.Y. trial
Inside the Beltway: Dodd-Frank=5,320 pages
Taming the Dodd-Frank Act: It’s a daunting job, but someone equipped with a whip and a chair may manage to do it. Federal regulations emerging from the new law are occupying many pages — already twice as many as health care reform legislation — and officials are not even half finished with their task. The rising cost of complying with the law threatens the nation’s small banks and financial institutions, prompting a House Financial Services subcommittee to call a hearing for Wednesday on the “regulatory onslaught.”
More than 400 new rules ultimately will be imposed. Consider that regulators have written 185 of them — totaling 5,320 pages. The subcommittee on financial institutions and consumer credit predicts it will take the private sector some 24 million hours every year to comply with this first batch alone. It took a mere 20 million man hours to build the entire Panama Canal. See their research here: www.financialservices.house.gov/burdentracker.
While some of the regulations are necessary, many only serve to “stifle economic growth and employment,” says Rep. Spencer Bachus, Alabama Republican and committee chairman. “We must make certain they do not harm the economy by drowning small business lenders in a sea of red tape.”
Needless to say, a recent Pricewaterhouse Coopers LLP survey found that 90 percent of banking industry leaders cite overregulation as “the biggest threat” to their businesses.
LET THEM EAT CAKE
And speaking of regulations: Colorado, Hawaii, Mississippi, Nevada, New Mexico, New York and Texas have new statewide rules meant to limit the offerings at bake sales in public schools to nutritious food alone, and therefore curb childhood obesity. Massachusetts joined the pack Monday with nutrition standards that target goodies sold or served during the school day in hallways, cafeterias, stores, vending machines and holiday parties. Officials are also eyeing the signature treats at weekend and community events such as banquets and football games.
Massachusetts residents appear vexed, according to an online survey of 8,800 Boston Herald readers. Ninety-five percent say the state should not ban such goodies in public schools.
“Whats next? Will they install food detectors at the doors? Will they be searching backpacks for candy?” demands Holly Robichaud, a political blogger at the paper. “This is what happens when government gets too big. To the liberals … I have one message. Bite me.”
“Fox News Reports: France Joins America in Electing Socialist President”
(Parody headline from comedian Andy Borowitz.)
To be introduced Tuesday evening at a swank spot on Capitol Hill by Sen. John McCain: that would be former POW and retired Air Force Col. Lee Ellis and his forthcoming book “Leading with Honor: Leadership Lessons from the Hanoi Hilton.”
The officer flew an F4C Phantom on 53 combat missions over Vietnam before he was shot down in 1967 at the age of 23 and spent five years in the infamous Hoa Lo prison. The pilot lived to tell about it, and learn from it. His message to leaders everywhere: “Embrace courage and honor in day-to-day work.”
Mr. McCain, who spent years in the Hanoi Hilton himself, lauds and endorses the book, which will be published May 14 by Freedom Star Media.
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