Posted on 01/27/2021 1:57:16 PM PST by karpov
Even in Washington, hardly anyone understands what the Office of Management and Budget does. Yet buried in the 2½-foot stack of President Biden’s first-day executive orders is hard evidence that someone in the new administration not only understands the OMB but knows how to use it. As a result, the business climate in this country will be made dramatically worse. Forget reregulation; this is the beginning of hyperregulation.
You probably didn’t pay attention to “Modernizing Regulatory Review,” a presidential memo released Jan. 20. Regulatory law is arcane and generally boring, but its effects can be monumental. Congress defers much of the actual work of governing—producing the rules and regulations that implement laws—to the executive branch. For decades the primary protection against an abuse of this power has been a requirement that a regulation’s costs must not outweigh its benefits. While each agency does its own cost-benefit analyses based on its own rules, OMB directs the agencies on how to do that and oversees the results. The new presidential memo tells OMB how to do that. The effects will filter down to every federal agency.
The presidential memo, similar to an executive order, is intended to “ensure that the review process promotes policies that reflect new developments in scientific and economic understanding, fully accounts for regulatory benefits that are difficult or impossible to quantify, and does not have harmful anti-regulatory or deregulatory effects” (emphasis added).
Translated from OMB-speak into English, that means throw out traditional measures, use anything you can possibly find to promote the benefit side of the cost-benefit analysis, and don’t do anything that might impair new regulation or remove old rules. The message from the Biden administration is that wherever cost-benefit analyses might create an impediment to regulation, OMB should feel free to throw out the math
(Excerpt) Read more at wsj.com ...
Those in contact with these regulators... have a simple reply back, and then see what power they DO NOT HAVE!
Go. F. Yourself.
I’m in the banking business. Not hard for them to make you life a living hell.
Definition of Diversity:
Anti White Male.
The word is both racist and sexist.
Definition of Diversity:
Anti-”White CONSERVATIVE Male” to be accurate
I’m so sick of Biden already, and it’s only been a week.
#jobkillerjoe
Loss count to date: 35,000 jobs
Whatever businesses haven’t been destroyed by the CHINA VIRUS,these regulations will kill off the rest of them....
It reads as a typically informative, dry, dry presentation of details that are guaranteed to give some low-level, unaccountable bean-headed bureauBrat enough power to ruin anyone’s life or business.
Don’t dare fill in a pothole; it’s a natural body of water, and may have a snail resident.
“Whatever businesses haven’t been destroyed by the CHINA VIRUS,these regulations will kill off the rest of them....”
Squeezing us into a corner.
The Great Reset will be coming to a continent near you.
Prepare accordingly.
5.56mm
Oh I know, FRiend-— they can procedurally make life hell at a minimum. Praying for a response by our Fed Reserve types to put a stop to the ridiculous regulatory crapola.
The kind of thing that comes out from some byzantine rule making on... say a major merger (Like BBT & SunTrust) where the branch banks of SunTrust in many areas have been “farmed over” to First Horizon of Memphis (itself already supposedly in merger takeover of the venerated 120 year old LA Iberia Bank!).
Such that in Georgia, for instance there are exactly TWO locations in GA for First Horizon Bank. Dahlonega and Jesup to which hundreds of thousands of GA SunTrust accounts that had credit line accounts on them— were assigned to these two “bank branches”. Unbelievably idiotic for, many of the accounts are of long time GA residents/family businesses from the days of CocaCola stock ownership of Trust Bank of GA (back to the 30’s and 40s).
This is the sort of foolish and political bank regulatory that server no useful purpose except as regards the convenience of the superior takeover organization.
Making both the banks and the long term customers lives a living hell. I get your point.
East germany, here we come........
AGREE
Outta work?
Thank Joe Biden
FR: Never Accept the Premise of Your Opponent’s Argument
Patriots are reminded that what the fraudulent Biden Administration is doing with regulators is blatantly unconstitutional imo.
Simply put, delegates to the Constitution Convention made the first numbered clauses in the Constitution, Sections 1-3 of Article I, evidently a good place to hide this clause from elite Democrats (semi-sarc), to clarify that all federal legislative powers are vested in the elected members of Congress, not in the Executive or Judicial Branches, or in non-elected bureaucrats running constitutionally undefined federal regulatory agencies.
"Article. I. Section 1: All legislative Powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives."
By abdicating their constitutionally express legislative responsibilities effectively to non-elected bureaucrats, the Democratic elite continue to nullify the voting power of ordinary citizens like they did in the fraudulent (imo) elections of 2020.
Congress is adding to its list of open rebellion against the Constitution every day imo, repeatedly disqualifying a bunch of Democrats and RINOs from actually being lawmakers under Section 3 of the 14th Amendment imo.
”14th Amendment, Section 3: No person shall be a Senator or Representative in Congress, or elector of President and Vice President, or hold any office, civil or military, under the United States, or under any State, who, having previously taken an oath, as a member of Congress, or as an officer of the United States, or as a member of any State legislature, or as an executive or judicial officer of any State, to support the Constitution of the United States, shall have engaged in insurrection or rebellion against the same [emphasis added], or given aid or comfort to the enemies thereof. But Congress may by a vote of two-thirds of each House, remove such disability."
I'm on the I.T. side of the banking business, and they DO make our lives a living hell every day!
“ I’m in the banking business. Not hard for them to make you life a living hell.
I’m on the I.T. side of the banking business, and they DO make our lives a living hell every day! ”
I’m in the securities business. They’ve been making lives a living hell since the DOL put its nose under the tent and it hasn’t stopped yet. I refer you to the Obama Retirement Task Force.
Just think what Trump could have accomplished with some modicum of support from his political party and the bureaucracy. It is amazing he did what he did. Still I marvel at the Democrats willingness to not only seize but also manipulate the levers of government to implement their ideology.
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