Implode-Explode Heavy Industries news feed Tracking the many faces of the global credit implosion. en-us iehi-feed-62222 Wed, 10 May 2017 16:45:15 GMT Did Former Congressional Candidate Dan Castricone Violate Federal Law? iehi-feed-62206 Mon, 08 May 2017 14:51:11 GMT NY Foreclosure Mills Are Using A New Tactic iehi-feed-62124 Sun, 23 Apr 2017 15:06:17 GMT Michigan Taxpayers To Get Slapped With An $8.2+ Billion Stealth Tax Increase iehi-feed-61997 Fri, 31 Mar 2017 22:44:15 GMT Is PHH Heading To The Auction Block? iehi-feed-61984 Thu, 30 Mar 2017 15:09:23 GMT Wells Fargo Home Mortgage Has A Secret Panic Code For MFI-Miami iehi-feed-61917 Mon, 20 Mar 2017 11:48:28 GMT Is Simon Property Group In Trouble Over An Alleged Insurance Fraud Scheme? iehi-feed-61871 Sat, 11 Mar 2017 20:15:17 GMT Trump Fires Preet Bharara iehi-feed-61844 Tue, 07 Mar 2017 04:41:12 GMT Trump Wants To Slap New Yorkers With A $18.5+ Billion Stealth Tax Increase iehi-feed-61761 Fri, 24 Feb 2017 23:40:44 GMT In sweeping move, Trump puts regulation monitors in U.S. agencies (IT WON'T WORK) President Donald Trump signed an executive order on Friday to place "regulatory reform" task forces and officers within federal agencies in what may be the most far reaching effort to pare back U.S. red tape in recent decades.


The sweeping order directs every federal agency to establish a task force to ensure each has a team to research all regulations and take aim at those deemed burdensome to the U.S. economy and designate regulatory reform officers within 60 days and must report on the progress within 90 days.

"Excessive regulation is killing jobs, driving companies out of our country like never before," Trump said before signing the order. "Every regulation should have to pass a simple test; does it make life better or safer for American workers or consumers?"''

We like the spirit behind this, and think it's a good idea to have a dedicated officer within each agency who is independent and is focusing on regulatory efficiency (kind of like the inspectors general system). However, Trump's remarks shows he doesn't really understand what the problem is -- the issue isn't that we aren't already taking enough time to weigh new regulations, get feedback from all sides, and weigh the pro's and con's (we already do this -- agonizingly-so): the real problem is that there's no compulsory force to cut through all the opposing interests and impose the optimal outcome based on the benefit to the general public (or whoever the intended stakeholders are). Instead, the preferences of the most powerful/vocal lobbies (or secondarily, the agency staff themselves) dominate. It isn't clear how yet ANOTHER monitor (we already have the GAO and CBO and CRS) is going to "right" the system. Generally, these oversight agencies already do amazing work -- it's just that "no one listens to them" (i.e., they have no power over the political process).

Thus, we don't expect this to work: while it might help in some cases for a while by adding some useful information to the public debate over particular regulations, it will likely just become another politicized facility that will become integrated into the DC sausage factory. Remember, the laws are being mandated by Congress in the first place, and the President can't simply refuse to implement them -- even if someone's analysis shows there's overall more cost than benefit.

To really make any meaningful, sustainable progress on this front, you'd need a law that puts enforcement behind the cost-benefit analysis of all future laws, and regulations implementing them; i.e., regulations can only be implemented if they can be done at a net benefit, and laws can only go into effect if their regulations can be implemented thusly (and this would be reviewed periodically over time, since you can't always tell from the outset). In essence, give the GAO's (and other oversight organizations) analyses some actual TEETH.

So, unfortunately, this just demonstrates another case where it is clear that Trump's people simply don't know how things already work, and what's already in place. You have to know what, in specific, is broken, to fix it. Oh, and you might have to actually work with Congress to get them to surrender some of their arbitrary power...

iehi-feed-61709 Thu, 16 Feb 2017 20:49:44 GMT Explaining Foreclosure To Your Kids iehi-feed-61637 Sat, 04 Feb 2017 03:43:12 GMT Treasury Secretary Nominee Steve Mnuchin Faces Heat In Attack Ad iehi-feed-61629 Fri, 03 Feb 2017 17:47:44 GMT CFPB fines MasterCard and Hip-Hop Mogul Russell Simmons iehi-feed-61625 Fri, 03 Feb 2017 15:16:47 GMT Steve Mnuchin Pocketed Millions From Bernie Madoff Ponzi Scheme iehi-feed-61621 Thu, 02 Feb 2017 20:13:00 GMT Is President Trump Giving Bernie Madoff A Full Pardon? iehi-feed-61618 Thu, 02 Feb 2017 17:36:52 GMT GOP-Led U.S. Senate Confirms Unqualified Ben Carson As Secretary Of HUD iehi-feed-61579 Fri, 27 Jan 2017 21:49:23 GMT What Trump Treasury Secretary Nominee Steve Mnuchin Isn't Saying iehi-feed-61578 Fri, 27 Jan 2017 18:47:50 GMT Ex-Quicken Loans Executive Stabs Wife To Death iehi-feed-61561 Wed, 25 Jan 2017 17:56:14 GMT Stop the Madness. Stop Sheriff David Clarke from Serving in the U.S. Senate | Mandelman Matters The point is that Black Lives Matter, Hillary Clinton and the religion of Islam are now being used to galvanize support for racist politics...

Generally speaking, populist leaders get elected by telling the people what they want to hear, with little or no no concern as to whether their promises are possible or not. In most cases, their policies include fiscal stimulus, printing more money, and expanding the deficit, which emphasizes growth over the risks of inflation and deficit spending.


Populism always reduces very complex topics to simplistic ideas... like the idea that building a wall along the U.S. -- Mexico border will prevent illegal immigration into this country, or that our trade imbalance is the result of negotiating "bad deals."

The real answers to today's economic problems revolve around improving education and access to higher education, and fixing health care so it stops costing Americans as much each month as a mortgage on a $300,000 home. Cutting the funding to the National Endowment for the Arts or to Planned Parenthood won't accomplish anything positive for anyone, nor will building a wall along the border with Mexico or renegotiating NAFTA, whatever that even means.

We would add that fixing the monetary and banking mal-design is core to the true solutions as well (in fact, we'd put it first in the list).

iehi-feed-61532 Sat, 21 Jan 2017 17:37:25 GMT The difference between Betsy DeVos and Past Education Secretaries | Mandelman Matters iehi-feed-61526 Fri, 20 Jan 2017 23:04:23 GMT Now we care about how Steve Mnuchin at OneWest Bank handled foreclosures? | Mandelman Matters