regulation

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Global Stocks Surge on Credit-Market Moves

New Treasury plans also boost market

(Newser) - World stocks jumped today on government measures to stop the credit-market meltdown and news that the US and the UK were getting tough on short sellers, Bloomberg reports. Deutsche Bank and Credit Suisse climbed 15% after four days of decline in Europe, while Australia’s Macquarie surged 38% after the...

Mandatory Tests Key to Feds' New Crane Regulations

Operators will be made to pass qualification exams in wake of fatal accidents

(Newser) - Crane operators will be made to pass certification tests, the AP reports, as the US Department of Labor, reacting to a number of deadly crane accidents this year, moved to make written and performance assessments mandatory in every state. In the first update since 1971, the tests will measure safety...

Regs Still Lax for Mexican Veggies Heading North

Many producers are privately certified, but enforcement is up to industry

(Newser) - How strong is food safety regulation after America's worst food-borne outbreak in a decade? A peek at a Mexican packing plant shows that rules are nearly nonexistent, the AP reports. The plant in northern Mexico, suspected of sparking the recent salmonella outbreak that sickened 1,400, washes produce from certified...

SEC Wants US Firms to Switch to International Accounting

Multinationals would change first under plan

(Newser) - The Securities and Exchange Commission is planning to require US companies to switch to international accounting rules, the Wall Street Journal reports. The body voted today to seek public comment on a plan for the transition, which would stagger requirements. Large multinational firms would be expected to voluntarily switch in...

$1K iPhone App? Get Control of Your Store, Apple

It 'shouldn’t be a place where a bunch of outlaws can run amok,' blogger pleads

(Newser) - Though the $1,000 “I Am Rich” iPhone application that so enrages Don Reisinger seems to have disappeared from Apple’s store since his original Mashable post this morning, his call for the giant to impose some order on would-be price-gougers stands. “There’s nothing stopping other developers...

Greenspan to Government: Hands Off
Greenspan to Government: Hands Off
OPINION
Aug 5, 2008 1:15 PM CDT

Greenspan to Government: Hands Off

Market capitalism can ride out the crisis, writes former Fed boss

(Newser) - The credit crisis is far from over, and more banks and financial institutions might require government bailouts along the way, Alan Greenspan acknowledges. The crunch will relax only when home prices, "the ultimate collateral support for much of the financial world’s mortgage-backed securities," begin to stabilize, the...

FCC Member: Leave the Internet Alone
FCC Member: Leave the Internet Alone
Opinion
Jul 28, 2008 3:21 PM CDT

FCC Member: Leave the Internet Alone

Engineers, not politicians, should solve tech problems

(Newser) - The latest crisis for the internet is the gridlock caused by bandwidth-clogging P2P software. But don’t worry, says FCC commissioner Robert McDowell. This has happened before. As far back as 1987, engineers have been solving the net’s bandwidth problems. It’s been a triumph of anti-regulation, and there’...

Feds Push to Ease Workplace Toxin Regs

Labor Dept. seeks to loosen oversight; union decries 'midnight' move

(Newser) - The Department of Labor is rushing to push through policy that would make it more difficult to regulate workers’ exposure to toxins, the Washington Post reports. The proposal was never publicly disclosed, as required by law, but rather surfaced on the website of the White House Office of Management and...

US Smacked by the Invisible Hand
 US Smacked by
 the Invisible Hand 
ANALYSIS
Jul 16, 2008 2:12 PM CDT

US Smacked by the Invisible Hand

Americans are moving away from faith in free market

(Newser) - Are we losing confidence in market mechanisms? Years of unfettered free markets contributed to the current gloomy economic situation, and even the market-championing White House has lurched into government regulation of the financial world, the Los Angeles Times reports. With housing prices falling and oil prices rising, “the message...

Fierce Lobbying Deflected Warnings on Fannie, Freddie

Mortgage giants deflected calls for stricter capital requirements

(Newser) - For years, critics have warned that Fannie Mae and Freddie Mac’s special status as government-sponsored enterprises allowed them to shoulder risk far beyond their minimal capitalization requirements, the Washington Post reports. The firms have used their unique position in the financial system, and high-intensity lobbying efforts, to quash any...

Fannie/Freddie: It's Bad, but It Could Be Worse
Fannie/Freddie: It's Bad, but It Could Be Worse
OPINION
Jul 14, 2008 8:32 AM CDT

Fannie/Freddie: It's Bad, but It Could Be Worse

Regulation helped stave off real disaster, writes Krugman

(Newser) - The government's move to shore up Fannie Mae and Freddie Mac has led to new fears about the state of the American economy—but don't worry too much, writes Paul Krugman in the New York Times. Fannie and Freddie are problematic institutions, but compared to the actions of big banks...

Fannie/Freddie Troubles Signal Sea Change in Gov't Role

Feds now effectively the only lender in town

(Newser) - The teetering of Fannie Mae and Freddie Mac has underscored a major shift in US finance, writes Peter S. Goodman in the New York Times—once simply another guarantor, the government has effectively become the only lender in town "for millions of Americans engaged in the largest transactions of...

Feds Plan to Allow Foreign Accounting Rules

Critics slam 'outsourcing' of financial protections

(Newser) - Federal officials are proposing to loosen accounting regulations, allowing American companies to shift to international standards that offer more latitude in reporting earnings, the New York Times reports. The move would make businesses more competitive, the administration argues, but it would also effectively exempt them from the investor-protection measures instigated...

Ex-CEO Revives Dreaded 'R' Word for Airlines
Ex-CEO Revives Dreaded 'R' Word for Airlines
ANALYSIS
Jun 14, 2008 2:35 PM CDT

Ex-CEO Revives Dreaded 'R' Word for Airlines

Re-regulation is only way, Bob Crandall says

(Newser) - The man who brought frequent-flyer and hub-and-spoke to airlines has a plan to fix the industry—with the dreaded "R" word as its centerpiece, Wired reports. Yes, former American CEO Bob Crandall wants the government to re-regulate: "It's time to acknowledge that airlines are more like utilities than...

Yahoo and Google: It's All Up to Yang
Yahoo and Google: It's All Up to Yang
analysis
Jun 13, 2008 10:08 AM CDT

Yahoo and Google: It's All Up to Yang

CEO must pave way for struggling company as investors look on

(Newser) - As Yahoo and Google prepare for a new search-ad deal, it’s all up to CEO Jerry Yang, writes Charles Cooper for CNET. Will Yang be the next Steve Jobs, pulling a struggling company back to the spotlight—or will he fade like his Yahoo predecessors? The afreement "may...

Heparin Victims Testify on Hill
 Heparin Victims Testify on Hill 
Apr 29, 2008 4:30 PM CDT

Heparin Victims Testify on Hill

Man outraged that drug was approved for sale

(Newser) - Relatives of some of the 81 Americans whose deaths have been linked to tainted heparin told a Congressional subcommittee about their experiences today, Reuters reports. An Ohio man wept as he told lawmakers his wife and son, who had a genetic kidney disease, died within a month after being given...

Market 'Fix' Just Feeds the Beast
 Market 'Fix' Just
 Feeds the Beast 
OPINION
Mar 31, 2008 5:08 PM CDT

Market 'Fix' Just Feeds the Beast

Bush denies need for regulations, Krugman writes in NYT

(Newser) - The Treasury plan unveiled today will never rein in free-wheeling markets because it isn't intended to, Paul Krugman writes in the New York Times. President Bush, who for 7 years has slashed at regulations, ignores how well they harness deposit-taking banks. And he denies that "non-depository" banks like Bear...

Paulson Unveils Regulatory Reforms: No Quick Fix

Focus of plan including new oversight for Fed extends beyond current woes

(Newser) - The "transformative" changes Henry Paulson has in mind for the regulation of the US economy will take years to implement, the Treasury Secretary said today. The plan would greatly increase the Fed's oversight powers, regulate the insurance industry for the first time, and add federal oversight of the mortgage...

Appeals Court Strikes Down NY's Passenger 'Bill of Rights'

Federal deregulation law takes precedence

(Newser) - A New York law, known as the airline “passenger bill of rights,” was rejected today by a US appeals court, Bloomberg reports. The measure required airlines to provide food and water when their delayed plane has sat on the tarmac for more than three hours. The court said...

'Regulation' No Longer a Dirty Word in DC

Wall St. woes, toy and food scares have pols of all stripes on board

(Newser) - "Regulation" is becoming less of a dirty word in Washington in the wake of the mortgage meltdown, woes on Wall Street, and scares over tainted food and toys. Many Democrats and even some Republicans want a shift from voluntary industry standards in vogue since the Reagan administration. "We're...

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