Saturday, August 02, 2008
Too Much, Too Late - WSJ.com
Government at work.
More government bureaucracy, more government employess.
And for what?...
More government bureaucracy, more government employess.
And for what?...
Here's part of the Wall Street Journal opinion:
"The merits of the bill are questionable, at best, especially since it comes so late in the game. In the 14 months since tainted pet food first came to light, the private sector has acted. Mattel, especially hard hit by a string of toy recalls last summer, moved quickly to beef up its quality control. Many other companies, such as Wal-Mart, had begun stepping up quality and safety checks even before the scandals hit the papers and Congress realized there was a problem. Why? These companies operate in a highly competitive marketplace and can't afford to see their brands damaged.
Companies are also subject to lawsuits and prosecution."
...
"With the drumbeat of anti-China sentiment ever louder on Capitol Hill, at least this law is more about appeasing Democratic special interests than indulging any acute protectionism. But the main point to remember is that this legislative drama is playing itself out a year after the market response kicked in. That, really, is all you need to know about Congress's ability to 'protect consumers.'"
