Cross Talk
Regulations that contradict one another are rife.
Cato Institute Report to the Department of Government Efficiency (DOGE)
This is a long comprehensive report from Cato, but this early paragraph is a doozy when it comes to regulatory conflict.
‘Many federal government actions work at cross purposes. Washington taxes Americans heavily, preventing many from saving adequately for retirement while simultaneously creating tax incentives to encourage private retirement savings elsewhere and spending trillions more to unnecessarily support well-off retirees. It weighs down public servants with arcane human resources–inspired rules infused with divisive diversity, equity, and inclusion (DEI) principles, driving away talented and patriotic Americans who want to make their government work well, or at least less badly. It simultaneously subsidizes drug and vaccine development while disincentivizing their availability through onerous regulatory burdens that fill invisible graveyards. It subsidizes government-connected farmers by reducing the price of water and encouraging the production of some crops while concurrently paying farmers to grow less and taxing Americans to protect politically favored farmers. It subsidizes the construction of infrastructure that must conform to sclerotic regulatory requirements and Buy American regulations that raise the costs, delay construction, and derail completion. These are just some of a legion of examples of how a huge federal government with many objectives breeds inefficiency.’
Trump Advisers Seek to Shrink or Eliminate Bank Regulators
Given the failure of Silicon Valley Bank and First Republic over plain vanilla interest rate exposure, it’s hard to make the case that these “regulators” know what they’re doing.
Besides, this is about consolidation of executing statutory responsibilities inside Treasury. Who else should be responsible for managing systemic risk?
‘Advisers have asked the nominees under consideration for the FDIC, as well as the Office of the Comptroller of the Currency, if deposit insurance could then be absorbed into the Treasury Department, some of the people said.
‘Any proposal to eliminate the FDIC or any agency would require congressional action. While past presidents have reorganized and rebranded departments, Washington has never shut down a major cabinet-level agency and rarely closed other agencies like the FDIC that are not.
‘Bank executives are optimistic that Trump will ease a host of regulations on capital cushions and consumer protections, as well as scrutiny of consolidation in the industry. But FDIC deposit insurance is considered near sacred. Any move that threatened to undermine even the perception of deposit insurance could quickly ripple through banks and in a crisis might compound customer fears.’
Ukraine's reformed military procurement agency drives the country's NATO ambitions
Necessity is the mother of invention.
‘DOT embodies the uneasy coexistence of a digital-savvy youthful ethos and paper-heavy post-Soviet bureaucracy. Its office exudes a fresh startup culture vibe, while catering to one of the most stubbornly rigid ministries in the country. The contrast underscores the spirit of how Russia's war in Ukraine is being fought, in which innovative drone wars coincide with World War II-style trenches.’
Inside House Democrats' DOGE-curious bloc
This is the critical piece. Congressional action will make or break DOGE’s legacy.
Seize and maintain the initiative, Elon and Vivek.
‘Rep. Jared Moskowitz (D-Fla.), the lone Democrat to join Congress' new DOGE caucus, told Axios he thinks "more Dems will join the caucus."
Doing so "gets you a voice to fight for the things where there's bipartisan agreement and fight against the irrational things that will probably get proposed," he said.’
Fed up with government bureaucracy, French bosses increasingly look at Trumpism with envy
Bureaucratic reform is contagious.
Nobody has more stored energy locked up in bureaucratic caverns than Europe.
‘A public sector CEO who used to work in the economy ministry and a private sector CEO finding common ground over the same frustrations is a powerful statement. "It's hell to invest in France, for regulatory reasons. The number one obstacle to decarbonization today is bureaucracy," said the CEO of French public utility company EDF Luc Rémont on Tuesday, December 10, at the French Electricity Union congress in Paris. "Here in France, I have 500 renewable energy developers who are struggling to make 300 to 400 megawatts a year. In the US, I built 2 gigawatts in one year. I can't continue to invest in a country [...] for such a low return," warned Patrick Pouyanné, the CEO of TotalEnergies, calling for more "simplified processes."’
Argentina Partners With El Salvador on Digital Asset Regulation Issues
If developed markets don’t want crypto companies, developing countries will.
Regulatory competition is a thing.
‘President Javier Milei’s administration seems adamant about establishing clear rules for cryptocurrency companies setting up in Argentina. The CNV, Argentina’s securities and digital currency regulator, has recently partnered with its partner institution in El Salvador, the CNAD, to collaborate and exchange information regarding supervising and regulating virtual asset service providers (VASPs).’