It’s an unhappy FMJRA Saturday.
No links this week 😦 It’s enough to make a girl cry.
Barney Frank manages to get his Financial Reform bill through the House. No Republican voted for it. Overall this bill sounds like a disaster –
The 1,279-page House bill would create a new federal agency dedicated to consumer protection, establish a council of regulators to police the financial landscape for systemic risks, initiate oversight of the vast derivatives market and give the government power to wind down large, troubled firms whose collapse could endanger the entire financial system. The legislation also would give shareholders an advisory say on executive compensation, increase transparency of credit-ratings agencies and set aside billions of dollars to aid unemployed homeowners.
I do see two items that I think are needed reforms, stockholders having a say on compensation and oversight on derivatives, but I haven’t seen any details yet so I can’t say I approve of either of the measures. The rest of what I see just looks like a regulatory mess that will end up making it harder to do business in the US.
The Other McCain (who by the way doesn’t bother linking back or acknowledging my Rule 5 submissions anymore) has more.
According to the Office of the Medicare Actuary Obamacare will actually end up costing us more than if we do nothing about health care.
The Office of the Actuary for Medicare has issued its long-awaited cost estimate for the Senate’s health care reform bill. I’ve only had a few hours to digest it and talk with outside experts.* But these seem to be the main points:
The bad news: Overall, according to the estimate, we’ll be spending more on health care come 2019 than we would if we did nothing.
The not-so-bad news: The difference is tiny, in relative terms, and even smaller than it was for the House bill, which was hardly big.
The good news: The underlying trend is in the right direction. As more time passes, it’s more likely we’ll save money.
That seems to be wishful thinking on the authors part. I challenge him to name a single federal program which has stayed with-in cost projections. There probably are a couple but I bet that they are very small and very targeted nothing like the sprawling miasma that is healthcare reform.
Oh Sweet Irony – Sarah Palin’s Copenhagen-Bashing Op-Ed One Of Most Read WaPo Opinion Pieces Of The Year, and it is apparently driving people insane 🙂
Iowahawk explains how to create your own AGW hockey stick graph. Fun for the whole family.
The Mathematics of Pizza Slicing – Don’t you people have better things to do, like coming up with a perpetual motion machine?
GOP insiders wish Palin would go away. I agree with Little Miss Attila – Good Luck With That