Cry Wolf Quotes
It is simply wrong-headed policy…[Federal and state banking regulations] require or aggressively nudge banks into subsidizing parts of the community [The proposals] would only aggravate the problem.
…the government has used regulatory and political pressure to force banks and other government-controlled or regulated private entities to make loans they would not otherwise make and to reduce lending standards so more applicants would have access to mortgage financing… the CRA was used to pressure banks into making loans they would not otherwise have made and to adopt looser lending standards that would make mortgage loans possible for individuals who could not meet the down payment and other standards that had previously been applied routinely by banks and other housing lenders... a law that was originally intended to encourage banks to use safe and sound practices in lending now required them to be innovative and flexible--a clear requirement for the relaxation of lending standards.
To remove jurisdiction of thermal discharges to the higher Federal level offers no evident benefits in the public interest, and on the contrary our experience has shown that it will lead to decisionmaking[sic] on the basis of arbitrary formulas without giving proper weight to the local conditions that do affect public interest.
Exercising such authority, of course, would require an enormous federal policing force, perhaps in the thousands. Already, employers, in their long-standing voluntary programs to make their plants safer, scratch hard for qualified safety experts. Labor Secretary W. Willard Wirtz blandly explained to Congressmen that getting people would be no drawback. He said he could staff his safety policing team with the hard-core unemployed. These presumably would then show up as federal ‘inspectors’ armed with power of life or death over your business.