Many parallels can be drawn between Washington’s response to Lehman Brothers’ collapse two years ago and its reaction to the British Petroleum catastrophe this summer.
Our federal leaders used Lehman’s bankruptcy and the subsequent economic fallout as a springboard for unrelated, dubious financial regulation like much of the 2,300-page Dodd-Frank Wall Street Reform and Consumer Protection Act. Read More
One day after being sworn into office, President Obama issued a memorandum to the heads of executive departments and agencies “reaffirming the commitment to accountability and transparency.”
Yet, with the majority party scrambling for votes and a grim November election forecast on the horizon, qualities such as transparency and openness have taken a back seat to political spin. Read More
Sen. Mary Landrieu, D-La., is officially playing hardball with the Obama administration over the six-month ban on drilling in the Gulf of Mexico.
Landrieu announced Thursday afternoon she will block Obama’s nominee for the Office of Management and Budget, Jack Lew, until the president lifts the moratorium on deepwater oil and gas drilling is lifted “or significantly modified.” Read More
America's litigation industry--the aggressive class action and mass tort lawyers who we at the Manhattan Institute have dubbed Trial Lawyers, Inc.--are always seeking new products to expand their bottom line. Today's plaintiff bar is taking an old class of tort claims, those involving environmental injury, and abusing the legal process in an effort to impose environmental regulations through judicial fiat. Read More
The Obama administration has effectively banned two kinds of off-shore drilling — deep-water and shallow-water — says Dan Kish of the Institute for Energy Research: Read More
Is the Obama Administration finally seeing the light on the deep-water drilling moratorium? At least one appointee seems to get it. From E&E News: Read More
What: Tony Hayward, who was an embarrassing failure as the public face of BP’s bumbling response to the disastrous Gulf of Mexico oil spill, will step down as CEO in October. He will get an immediate $930,000 annual pension and will be offered a job with the company’s joint venture in Russia. Read More
As amazing as it may seem, there’s considerable evidence that Joe Caldert, a plumber from St. Francis, Kan., submitted the design which was the basis for BP’s at least temporarily successful effort to stop the flow of oil. Read More
Sen. David Vitter, R-La., criticized President Obama’s handling of the Gulf oil spill crisis on Sunday and said the deep water drilling moratorium will destroy more jobs than the spill itself if it is allowed to continue for the next six months.
Appearing on Fox News Sunday, Vitter accused the Obama administration of avoiding trips to the area “to move it off of the front page rather than dealing with the situation forcefully.” Read More