Dimon Should Change His Name to ‘Demon’

Dimon the Demon

PUT 'EM UP! - Chase CEO Jaime Demon will go to the mat to block banking regulations that are anti-American. He apparently doesn't feel the patriotism for American regs either. Click photo for more >>

There are few things Tea Partiers and I both believe, but this is one: there should be as little business regulation as possible. Past that, the brewerskies start making tea while wearing tri-cornered hats and carrying signs that read, “Don’t Tread on Me”.

Then, I tune them out when my ears begin to bleed.

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Taxes: If They Do the Crime, Make Them Do the Time

Tax Cheats in America

THE TAX MAN COMETH - You may not like taxes. You may not like what your taxes pay for. But, one thing is for certain; if scofflaws can settle for 'pennies on the dollar' you and are the ones picking up their tab.

Americans like to trumpet the belief that we’re a “nation of laws”. Unfortunately, our laws are unevenly enforced when enforced at all. Congress churns out dozens of laws every year, while at the same time, guaranteeing they’ll fail by not budgeting for enforcement. Tea partiers like to say that most corporate laws constitute “over-regulation”. However, one could make a reasonable case that we don’t over-regulate, we under-enforce – and a law unenforced is no law at all.

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Common Corporate Sense

Common Sense

Sad, But True

Half a world away, a tiny band of workers is trying to save their country from a nuclear meltdown. Closer to home, 11 people died and tens of thousands more lost their livelihoods when an oil rig caught fire in the Gulf of Mexico. Even closer, my local news carries daily accounts of how a gas line explosion that left 8 dead, 50 injured, and 40 families homeless could have been prevented.

All of these events have two things in common – they’re accidents. No one got out of bed one morning and said, “Gee, I think I’ll go out and kill someone today.”

The other is that with some common sense and honesty, all of them could have been prevented or at least their risk mitigated by prudent action – even when a tsunami rolls ashore.

Cutting Corners to Keep the Dividends
For years, all the companies involved told their governments and the public things were just peachy. “Safety is our top priority. We’re responsible citizens” as if by top priority you mean cutting corners so the dividends keep on rolling in. Their inability to follow the rules is ample proof.

It’s de rigueur these days to lament the crushing weight of regulations on business, a not wholly inaccurate charge. The popular refrain is that unnecessary regulations kill jobs and stymie innovation, progress, and plenty. However, fewer point out that a job isn’t much good if you, your family, or your neighbors end up in the morgue waiting to be identified by their dental work or the ash pile that is their DNA.

All of these events, like thousands before them, will generate new regulations. The throngs don’t take kindly to being blown up while watching American Idol and they’ll push their government to do something and do something now.

Score 1 for K St.
The gears of government will turn. There will be a cacophony over just how far the regulations should go. In the end, lobbyists will win out and the resulting regulations will, more often than not, benefit the companies and not control their stupidity. Score 1 for K St.

That doesn’t matter much anyway. Government won’t enforce the laws and will cut back on the agencies that are responsible for that because someone needs a tax cut. The companies will continue to have accidents and all will be right with the world until the next tiny band of workers is irradiated or killed for simply going to work at ones of those nifty jobs that were generated by the cutting of corners and ignoring of regulations – the same regulations that tried to legislate common sense into people who have none of their own.

In the end, these events aren’t about small government or big government. They aren’t about deregulation or over-regulation. They aren’t about the gulf between the haves and have nots. They are about the ultimate failure of holding companies responsible for what they do.

Just as CEO’s don’t get out of bed in the morning plotting on who to kill today, regulations don’t come about needlessly. They come about as the result of someone not doing something that should have.

Unfortunately, you can’t legislate common sense into a thick corporate skull. And, we’re all the worse off for it.

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