Friday’s Business News

The Mommy Party

Pelosi & Co. on Thursday evening passed a ghastly nanny state bill concerning mortgage loans, foreclosures, loan brokering, mortgage-backed securities and related items.

227 / 227 – 100% – Democrats in favor
64 / 191 – 34% – Republicans in favor

0 / 0 – 0% – Democrats opposed
127 / 191 – 66% – Republicans opposed

The Senate has a companion bill on its legislative calendar, but that’s been stalled almost from day 1.

In the unlikely event the full Congress were to pass something along these lines obviously there would be a presidential veto. As well there should be.

Deregulation

Here’s a link to a good story by the AP — sans agenda — regarding the SEC’s new, pro-business rules for the raising of capital by small businesses.

Keep Your Friends Close and Your Enemies Closer

Here’s a very interesting article regarding a New Jersey casino, a labor union, employment strife, administrative law, and the political trials and tribulations inherent in the regulation of a unionized business that directly serves the public.

All of which raises an important question: Why are there always so many problems with businesses that employ high concentrations of unionized workers?

Oh, right, never mind.

Smokin’

Here’s a link to a good report — devoid of any agenda — concerning the efforts of bar owners in Colorado to have the U.S. 10th Circuit Court of Appeals overturn a state law that banned smoking in their establishments.

They can have my Marlboro when they pry it from my cold dead hands.

Energy Compact

Here’s a pretty decent article regarding that Midwestern energy agreement that was announced on Thursday, to which the governors of five states agreed. The compact covers such things as renewable energy, conservation measures, plus an emissions cap-and-trade system to boot.

Although the stated premise for most of that activity is a liberal myth, there’s nevertheless quite a lot to be said for increasing our usage of alternative and renewable energy sources. The reality is that there’s a national security component to this debate. We need less reliance on foreign oil. So, ergo, increased roles for wind power, solar power and biofuels are good things. The non-Moonbat ends outweigh the stated rationales.

That said, however, the above article leaves out the proverbial elephant in the room. At some point over the next few years the U.S. Supreme Court inevitably will be tasked with deciding two crucial issues: (1) whether state laws regarding carbon emissions are preempted by federal laws, (2) whether state laws concerning emissions are barred by the so-called “dormant” commerce clause.

If the High Court were to determine that states can’t regulate in this arena then obviously the Midwestern energy compact won’t be worth the paper on which it’s written.

Time will tell.

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