Interesting - so they're willing to sign up for regulation as long as no one but the government bureaucrats get to decide who is held accountable. I think they know how to make that system pretty livable for themselves.
son of liberty | 09.15.07 - 5:51 pm | #

This is news at all. Industries have always sought regulations, that puts them in the best place to manipulate them to their benefit and their competitor's disadvantage.
Nacim Bouchtia | 09.16.07 - 1:09 am | #

I disagree that "industries have always sought regulations" to protec ttheir competitive position. The dozens of companies that I have had as clients all detest regulation and view it, rightly, as an impediment to growth. The point of my post is the trial lawyers have gotten so out of control that companies are seeking regulation to protect them from lawsuits so they can point to being in compliance with a regulation to not lose at a trial.
Leonardo | 09.16.07 - 5:28 pm | #

I don't disagree in the least that regulation is an impediment to growth. However, it can also serve to benefit PARTICULAR companies that are for some reason or another better equipped to deal with a new regulation. For example, the Meat Inspect Act of 1906 was largely drummed up by the big Chicago meat packers. They had already made inroads in adopting more hygienic procedures like refrigerated cars, the passage of the law served as a final nail in the coffin for local competing butchers.
More info here:http://www.mackinac.org/article.aspx?ID=4084

I'm not well versed but I doubt the effectiveness compliance with a regulation has in courtroom.
Nacim Bouchtia | 09.16.07 - 9:37 pm | #

Also, you might find this interesting:

http://en.wikipedia.org/wiki/ Boo...rs_and_Baptists

The original article is an excellent read if you can dig it up.
Nacim Bouchtia | 09.16.07 - 9:45 pm | #