Representative Darrell Issa of California recently sent letters to more than 150 companies, trade groups and research organizations asking them to identify federal regulations that they wanted to see repealed or rewritten.
This is a splendid idea, as we have learned this past decade. No one is in a better position to know what rules are restraining economic recovery than the companies that have to live under their restrictions. Indeed, what could be more intelligent than allowing entities whose fiduciary obligations are to maximize profits by any legal means available to rewrite their own rules?
Can you feel the sarcasm? I hope so.
The list goes on and on. We could talk about Food safety, products that strangle infants, unsafe effluent discharges into drinking water, etc. Suffice it to say that self-regulation by corporate entities has been a complete and unmitigated disaster.
But we will not learn.
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