The President’s Panacea for Business Regs: The Cost-Benefit Ratio
Harry Shearer

NEW YORK — Not content with having crafted a recovery plan that helped banks and financial services firms recover far more nicely than other folks, President Obama has reached out to the rest of the business community with a plan for all federal agencies to reexamine their regulations, the Washington Post reported.

Red tape stinks, of course. Just ask the hundreds of thousands of New Orleans citizens who had to jump, dance, and pirouette through federally-mandated hoops to even hope to qualify for compensation for the damage and destruction caused by the 2005 failure of the federal “hurricane protection system.” And any federal agency, like any other organization, can benefit from a brisk and clear-headed review of its policies and regulations, clearing out the outdated and the unnecessary.

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