CEI Today: Bank bailouts, driverless vehicles, and hidden cost of regulation

Wednesday, November 20, 2013
In the News Today


McClatchy: Stop Washington from raiding life insurance to bail out big banks


Ask any group of financial experts - or better yet, any group of ordinary Americans - what caused the financial crisis, and chances are "life insurance" is one answer that will not come up.

In the report of the Financial Crisis Inquiry Commission, a congressionally appointed panel made up of a majority of Democrats, the phrase "life insurance" is mentioned one time in passing in 663 pages. The term "banking," by contrast, was mentioned 50 times in the first 25 pages.

So why, then, are Washington bureaucrats putting life insurance firms in the same risk category as big banks? One simple reason is, to borrow a famous saying attributed to bank robber Willie Sutton, that's where the money is.
> Read more

> Interview John Berlau


> Follow John Berlau on Twitter


Openmarket.org: Dumbest Reason to Be Skeptical of Autonomous Vehicles: They Might Cost Auto Mechanics Their Jobs

Tuesday, the House Subcommittee on Highways and Transit of the Transportation and Infrastructure Committee held a hearing on “How Autonomous Vehicles Will Shape the Future of Surface Transportation.” This hearing is the first time Congress has seriously addressed autonomous vehicles, and many observers were rightly worried that political interest from Congress might lead to unnecessary economic intervention. > Read more

> Interview Marc Scribner

> Follow Marc Scribner on Twitter


Cataloging Washington’s Hidden Costs, Part 2: The Unmeasured Impacts of Economic Intervention

Turns out, most economic interference is unmeasured and probably unmeasurable too. Let’s do a non-exhaustive rundown of some economic costs not included in my rough $1.8 trillion annual regulatory cost placeholder that I have so far. Such as...

The distortions of crony capitalism: The costs include not just the spending or favors on behalf of the crony, but the distortion created by the overrule of the market. Examples range from bailouts of traditional industry like GM, to new ventures like Solyndra; from Farm Bill subsidies to government funded sciences and pet technologies. Government funding has implications for the trajectory of regulation, and the spending itself is distortionary compared to what the marketplace otherwise would have done. > Read more


> Interview Wayne Crews

> Follow Wayne Crews on Twitter


CEI is a non-profit, non-partisan public policy group dedicated to the principles of free enterprise and limited government.  For more information about CEI, please visit our website, cei.org, and blogs, Globalwarming.org and OpenMarket.org.  Follow CEI on Twitter! Twitter.com/ceidotorg.


CEI President Lawson Bader

Setting the record straight on liberty

I, Pencil is the “biography” of a simple wooden pencil, but it is more than that. It is a guide to the great global symphony of human labor and ingenuity that goes into a single pencil’s production. > Read more


> Follow Lawson Bader