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Thursday, November 1, 2007

Safety Agency refuses more Funds

I think that Ms Nord's refusal of extra funding for the Consumer Product Safety Commission (Bigger Budget? No, Responds Safety Agency, New York Times, October 30th., 2007: A1) sinks to the level of a high crime and misdemeanor. She should be impeached.

The failure of suppliers to provide a safe product (leaded toys, contaminated pet food, etc.) is clear evidence of market failure. It does not pay suppliers to provide safe products. When this occurs, then government regulation -- however much Republicans dislike it -- is the only solution. We see similar market failures in the financial sector: Deregulation of S&L's and more recently deregulation in the mortgage market. I hope there that Secretary Paulson will not be so stubbornly ideological as Ms. Nord is proving.

Oh yes, if convicted she should be forced to spend a week with a group of two year old children who have just had their red (lead) painted Thomas musical caboose taken away.

Sent to New York Times

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