Category Archives: News

News

Democrats planning government regulation of more large companies

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Story from Investor’s Business Daily.  (H/T ECM)

Excerpt:

Washington is quietly preparing a hostile takeover of Wall Street with a new bill that would put regulators in control of managing asset prices.

While all eyes are fixed on the cobra poised to strike the health care industry, a python is wending its way through Hill banking panels that would squeeze the life from the whole economy.

By Christmas, House Financial Services Committee Chairman Barney Frank hopes to pass legislation that would create an uber-regulatory body called the Financial Services Oversight Council.

It would give the Treasury secretary power to pick which large finance firms are “systemically critical,” or too big to fail. He’d have the final call when the government steps in to save or unwind a troubled firm.

The bill would “essentially turn over control of the financial system to the government and seriously impair competition in all areas of finance,” says former Treasury official Peter J. Wallison. It would put the government permanently in the business of picking winners and losers, he adds, creating a kind of permanent TARP.

[…]The new regulatory agency can regulate banks, bank holding companies, insurance companies, hedge funds, finance companies and any other kind of company that might be designated too big to fail.

“The existence of these designated companies will impair competition in every market they are allowed to enter,” says Wallison, “and will force the consolidation of competitors so that markets become dominated by government-backed giants like themselves.”

Under the new regime, designated companies will not be able to finance their affiliates’ sales, putting them at a severe disadvantage against foreign competitors. GE Capital, for example, would not be able to finance GE sales of aircraft engines.

In effect, designated companies will fall under the control of the feds, unable to start new activities or enter new markets or perhaps even open new offices without federal approval. “This is a degree of political control of business that has never been attempted before,” Wallison says.

When government gets involved in business, business must turn around and direct money toward influencing politicians through political contributions. And that causes them to spend less money hiring workers and producing goods, unless they avoid the regulations completely by shipping their operations, and jobs, overseas. Democrats cause firms to outsource by interfering in the free market.

My previous post explained how government regulation of business caused the recession that Obama is prolonging right now.

News

New research shows that babies learn language patterns in the womb

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Story from Live Science. (H/T Secondhand Smoke via ECM)

Excerpt:

From their very first days, the cries of newborns already bear the mark of the language their parents speak, scientists now find. French newborns tend to cry with rising melody patterns, slowly increasing in pitch from the beginning to the end, whereas German newborns seem to prefer falling melody patterns, findings that are both consistent with differences between the languages. This suggests infants begin picking up elements of language in the womb, long before their first babble or coo.

Prenatal exposure to language was known to influence newborns. For instance, past research showed they preferred their mother’s voice over those of others. Still, researchers thought infants did not imitate sounds until much later on. Although three-month-old babies can match vowel sounds that adults make, this skill depends on vocal control just not physically possible much earlier. However, when scientists recorded and analyzed the cries of 60 healthy newborns when they were three to five days old — 30 born into French-speaking families, 30 into German-speaking ones — their analysis revealed clear differences in the melodies of their cries based on their native tongue.

I told you that babies are scheming in the womb, but none of you believed me.

News

Hasan’s classmates knew he was a radical, but would not speak out

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John Lott has a nice round-up of the facts on the Fort Hood incident.

One of the articles he linked to said this:

In the months leading to Thursday’s shooting spree that left 13 people dead and 29 others wounded, Hasan raised eyebrows with comments that the war on terror was “a war on Islam” and wrestled with what to tell fellow Muslim solders who had their doubts about fighting in Islamic countries.

“The system is not doing what it’s supposed to do,” said Dr. Val Finnell, who complained to administrators at a military university about what he considered Hasan’s “anti-American” rants. “He at least should have been confronted about these beliefs, told to cease and desist, and to shape up or ship out.”

Finnell studied with Hasan from 2007-2008 in the master’s program in public health at the military’s Uniformed Services University of the Health Sciences in Bethesda, Maryland, where Hasan persistently complained about perceived anti-Muslim sentiment in the military and injected his politics into courses where they had no place.

“In retrospect, I’m not surprised he did it,” Finnell said of the shootings. “I had real questions about what his priorities were, what his beliefs were.”

[…]Danquah assumed the military’s chain of command knew about Hasan’s doubts, which had been known for more than a year to classmates at the Maryland graduate military medical program. His fellow students complained to the faculty about Hasan’s “anti-American propaganda,” but said a fear of appearing discriminatory against a Muslim student kept officers from filing a formal complaint.

This reminds me of something Dennis Prager always says. He says “those who will be kind to the cruel will be cruel to the kind”. Forcing others not to make bad people feel bad about being bad seems like such a nice idea, until the shooting starts. The fact that people working with him felt that they would be persecuted for calling him out as a dangerous risk tells me that the system is broken.