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#regulation

4 posts4 participants0 posts today

So, the Financial Conduct Authority was preparing to apply a 'public interest test' as to whether it was in the public interest to 'name & shame' financial services firms that it had investigated & found at fault... but after sectoral lobbying they have given that up & are retaining the 'exceptional circumstances' test.

So even if the FCA find bankers acting badly it will only (still) tell us in 'exceptional circumstances';

remind me who the Govt. works for?

#regulation #politics
h/t FT

#DOGE Is Putting Major Government #Efficiency Projects at #Risk

“18F was the people’s #tech shop,” one fired #18F worker tells WIRED. “There’s a giant hole left by the closure of 18F. Requests from across the country for help far outpaced 18F’s capacity before the closure.”

#USpol #Musk #Trump #PublicDisservice #law #regulation #Technocracy #broligarchy #plutocracy #NeoReactionary #NRx #Technofeudalism #USpol
archive.is/2025.03.07-192338/h

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The meeting was a potential turning point after the frenetic first weeks of #Trump’s 2nd term. It yielded the first significant indication that Trump is willing to put some limits on #Musk, whose efforts have become the subject of several lawsuits & prompted concerns from #Republican lawmakers, some of whom have complained directly to Trump.

#DOGE#USpol#law

Industry-Backed Legislation Would Bar the Use of Science Behind Hundreds of Environmental Protections

Two bills in Congress would prohibit the Environmental Protection Agency from using hundreds of chemical assessments completed by its IRIS program in environmental regulations or enforcement.
propublica.org/article/legisla

ProPublicaIndustry-Backed Legislation Would Bar the Use of Science Behind Hundreds of Environmental Protections
More from ProPublica
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The Millers had worked w/ #Musk in between #Trump’s terms, helping to guide his political spending behind the scenes. After the election, they became even more essential in helping him decode & navigate Trump’s world.

Musk also absorbed as much as he could about the budget process & the bureaucracy that he intended to dismantle from #RussVought, who served as dir of the powerful #OMB in Trump’s first term.

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The operation would take over the #USDS, which had been housed within the #OMB [#RussVought], & would become a stand-alone entity in the executive office of the president. #Musk would NOT be named the #DOGE administrator, but rather an *adviser* to #Trump….

An advantage of this complicated structure was #secrecy. For all his talk about “#transparency,” Musk was obsessed w/confidentiality & fearful of #leaks.

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The group included #Musk; #Ramaswamy, who was then #DOGE’s co-leader; the #billionaire #HowardLutnick, who was running #Trump’s transition & would become his #commerce secy; & a health care entrepreneur, Brad Smith, who had worked w/Trump’s son-in-law #JaredKushner…. [but more importantly] Smith was a close business associate of #AmyGleason, who had worked at one of his companies as a chief product officer.

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#Musk was elated by #Trump’s win, but he had done virtually no preparation for his new initiative. 2 days after the election, on Nov 7, Musk was…at Mar-a-Lago….He would spend much of the next 2 months there, staying at a $2,000-a-night cottage on the property.

In the days & weeks that followed, a tight circle began planning how to swiftly upend the bureaucracy, starting essentially from scratch.

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But #Musk also quickly seeded the idea w/ #Trump that he could be more than just a campaign donor.

…By Sept 5, the [#DOGE] idea was announced as a central pillar of Trump’s economic proposals. In a speech at the Economic Club of NY, Trump …said he would create a government efficiency commission helmed by Musk. The effort, which Trump offered few details about at the time, would “save trillions of dollars,” he claimed.

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At 3 pro-#Trump dinners organized by #Musk & the #billionaire investor #NelsonPeltz over the course of 2024, Musk touted the need for a smaller government but struggled to offer specific ideas.

At the time, he was infuriated by #Biden & what he saw as deliberate efforts by the admin to harm his businesses #Tesla & #SpaceX.

…In the months that followed, he would plow almost $300M into efforts to re-elect Trump.

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A month into #Trump’s second term, #Musk & his crew of >40 now have about all the passwords they could ever need.

His swift success has been fueled by the president, who handed him the hazy assignment of remaking the #FederalGovernment shortly after the #billionaire endorsed him last summer. Flattered that Musk wanted to work with him, Trump gave him broad leeway to design a strategy & execute it, showing little interest in the details.

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#Musk & his advisers — including Steve Davis, a cost cutter who worked w/him at X & other companies — did not want to create a commission, as past budget hawks had done. They wanted direct, insider #access to government systems. They realized they could use the #USDS office, whose staff had been focused on helping agencies fix #technology problems, to quickly penetrate the #FederalGovernment — & then decipher how to break it apart.