I heard a statistic today that JP Morgan has over 43,000 regulatory and compliance employees — for every four employees doing other ‘stuff’, there’s a regulatory guy. I don’t know who all counts as an employee engaged in banking business (does an HR person count?) or as a regulatory employee (one hour a year doing something related to federal regulations qualifies you?) but I’m willing to take the statement on its face. I don’t necessarily see that as a failing in regulations as a failure in automation.
Category: Politics and Government
Gain of function
It says something about the Trump administration that they can lift the moratorium on government funding of gain of function research and it doesn’t make headlines. There’s hypothetical benefit to making known viruses deadlier — more readily transmitted, deadlier, survive longer outside the body — but there’s non-hypothetical risk. And not just the thriller movie plot where someone smuggles a sample out of the lab to infect the millions of passengers a day on the Underground. Time will tell, and hopefully I’m wrong … but my tax dollars going to make a worse Ebola (or whatever) isn’t on my happy list.
Innocence
“You think our country’s so innocent?” … now Trump was talking about murder, but I am thinking about it in light of Russian interference in the election. We’ve backed regimes coming into power, supported coups overthrowing foreign governments … sometimes both for the same individual (e.g. Ngô Đình Diệm). We distribute propaganda for favoured candidates, obtain and publicize embarrassing information about unfavoured candidates … and with the proliferation of computer technology, I am certain we have used hacking to obtain this information.
Trump’s seems to assume public objection to Russian meddling presupposed the US hasn’t taken the same actions. Not true. It isn’t anger that Russia turned these techniques on us … or even sour grapes that they managed such a stunning success. A significant number of people object to this behaviour when the US does it too — I don’t agree with assassinations, executions, or interference in elections be it by the CIA, MI6, KGB, China’s Ministry of State Security, or any other state security apparatus.
My Latest Conspiracy Theory (Movie)
There is a logical extrapolation to a world with facts and ‘alternative facts’ — why would alternative facts just be used to refute a report? They can just as easily make a story of their own. Trump has made a lot of outlandish campaign promises — ones that require significant money, legal maneuvering, and time to complete. But why bother completing them at all? You can just say it is done.
So they declare the wall built. Then there’s a whole conspiracy theory about it not actually having been built, people trekking down to Southern Texas and to get pictures of the not.a.wall down there. Government press releases with this huge, aesthetically pleasing, immigration stopping wall. How do you know which is the fact and which is the alternative fact (i.e. an obvious lie).
The problem with lying is you’ve either got to have people sufficiently willing to believe you to overlook the missing logical consequences of whatever you lied about OR you’ve got to create the same conditions either way. There are a lot of people willing to believe Trump *now* … but if they don’t start seeing results, either his wall was a complete waste (yeah, it was – I still say a massive fleet of drones could actually stop human traffic across unauthorized checkpoints for FAR less money — not saying I think the stopping human traffic is a good thing or not, but if we’re hell bent on DOING it, at least DO IT) or illegal immigrants were not the cause of unemployment and huge government spending on entitlements (yeah, they weren’t).
A priori assumption: an insufficient number of people are willing to believe the lie as evidence against it mounts to sustain a re-election campaign. Now they need to recreate their predicted result … government assassins offing some percent of people on public assistance (so they can declare reducing illegal immigration eliminated this money we’ve been wasting) and maybe even offing a random percent of the gainfully employed population (to open up jobs now that illegal immigrants aren’t “stealing our jobs”).
Just need some out there hippy type in an old VW bus cruising around the country trying to stop this murderous conspiracy.
On Free Speech
People often seem to conflate “free speech” with (a) the right to speak without repercussion, (b) access to private speaking fora, and (c) people willing to listen.
Immigration
I know everyone has a gut reaction to the efficacy of the immigration ban – be it ‘total rubbish’ or ‘great job securing our borders’ – but a few organisations have bothered analysing the historic actions that would have been eliminated by the travel ban.
The Cato Institute, libertarian leaning but certainly not a left-wing think tank, finds no benefit to national security. The nations included in the ban account for seventeen convictions for attempted terrorist attacks – and exactly zero deaths. Now “attempting” a terrorist attack could be anything from planning to trying to actually execute an attack. Bad, but ZERO people died. A few of the banned countries (Libya and Syria) did not account for a SINGLE attempted attack. They provide a illuminating breakdown of what appears to be selectively picked data published by Senator Jeff Sessions — Trump’s pick for Attorney General. 6.9% of the list (over 500 accounts) were foreigners planning attacks on US soil. Even if I assume Senator Sessions hasn’t selected data to make a couple of countries look particularly bad, the travel ban fails to prevent 93.1% of PLANNED attacks.
A common argument is that stopping one attempt is worth it (questionable considering the disruption caused by the travel ban – doctors are unable to enter the country to take up residency at hospitals, scientists are unable to enter the country to take research positions at universities, but value cannot be ascribed to a life so arguing is a bit of a bad job). What cannot be determined, though, is how much anger does this move engender? How many people BEGIN providing material aid to terrorist organisations because of this ban? How many people are going to end up dead because of this action?
I’ve said before – it would be one thing to decree the entire immigration process insecure and shut down ALL immigration (travel tourism too. bad for, say, people who own hotels) for a period of time while a new process is deployed. Selectively banning countries based on history of terrorist activity — which this certainly IS NOT — only causes different people to undertake terrorist activities. It’s a little like the aeroport security scanners – they’re looking for everything previous terrorists have tried. Makes people feel better (even as they complain about the inconvenience) that the government is “doing something” to keep them safe. I guess this falls into the same category, but we aren’t even selecting countries to ban on historic data. We’re selecting them on some guy’s perception of risk. Or some guy’s investment portfolio. Or some guy who threw darts at a map of the Middle East.
The ISIL Plan
One facet of the campaign that I found fascinating was Trump’s touted secret plan to defeat ISIL. Now, I’ve encountered a lot of situations in politics and business where there really is no good answer, and when pressed repeatedly to come up with *something* … well, if I had figured out the answer to world peace, I’d have already rung up the UN Sec Gen. Solved malnutrition and starvation, I’d have published it on slash-dot. Hell, even if I had solved the P v/s NP problem … I would have TOLD SOMEBODY.
Had I been sitting around my bling’ed out parlor lulled into a zen-like state by the sunlight dancing on the gold, well, everything when the thing that’s been missing all along in our fight against terrorism popped into my mind … what kind of asshole keeps it super-secret hidden and offers to reveal the solution if you’ll vote for him. So, yeah, either a liar or an asshole. (Also, not mutually exclusive).
Well, enough electors voted for him and where’s this super awesome solution? Did Trump think Putin’s praise meant Russia would pressure Syria to get the whole terrorism thing sorted? Implying Trump thinks Syria could do something to stop ISIL if only they tried … which is almost more frightening than many of the other points of ignorance the man has shown in the last few years. Did Trump think there was actually a good plan on the Chairman of the Joint Chief’s desk but Obama refused to implement this plan — so Trump’s plan was to say “OK, General, do it”?
Doesn’t bother me that the dude doesn’t have a plan (lets be honest, I assumed he didn’t have a plan as soon as he started spouting off about it), but why doesn’t anyone call him on yet another broken campaign promise?
Real and Alternative Facts
Alternative Fact: Mexico will pay for Trump’s crazy wall through a 20% tariff on goods imported from Mexico to the USAs
Real Fact: Umm, that’s Americans who will be paying … anything they buy from Mexico will cost 20% more. Or they’ll purchase goods imported from some other country to avoid paying the import duty and still end up paying for the wall (plus interest on the wall) because that’s how floated debt works in the real world.
Voting Fraud Or The Potential Thereof
There’s been a lot of reporting and chatter about voter fraud. I assumed this was intentional fraud until I started seeing reports that some of Trump’s advisers, cabinet nominees, and even a daughter were guilty of one of the particular missteps against which Trump rails.
I have lived in several states. I have also been registered to vote in each of them. I verified my registration on three different states, and wanted to remove my registration from the states in which I don’t actually live. Spent two hours searching two different Board of Election sites and there’s no published process for rescinding a registration. Checked the federal Election Assistance Commission — they do not even say you need to rescind your previous registration. It’s a “good idea”, but it also says “your new election office uses this information [your former address] to notify your former election office that you no longer reside in that jurisdiction”. Evidently there’s a fairly high failure rate on this process.
This is not voter fraud – it was a failure on my part to properly research the process and then follow up to confirm my non-registered status in other states. There’s a big difference between casting ballots using the same identity in multiple states, voting under multiple identities, etc and unknowingly being registered to vote in more than one state.
Making people aware of the problem – especially if local Boards of Election update their web sites with instructions on removing invalid registrations – is certainly a worthwhile endeavor. I work in IT; I like clean data. Cleaning up the state registries may make analysing data to identify actual fraud easier (i.e. the fact that I show up on three states is more indicative of fraud since it is common knowledge that individuals should be rescinding old registrations). But how much money is going to be wasted hunting for phantom election fraud?
Federal Regulations: 75% Off
Trump’s recent statement that 75% of federal regulations would be eliminated under his presidency is outright terrifying. On all levels, there are heaps of crazy regulations. Just yesterday, I learnt that it is illegal in Ohio to leave a running vehicle unattended. I cannot recall a particular instance where I left my vehicle running whilst I ran inside to grab a forgotten item, over to the mailbox to drop off an envelope, or some similarly quick jaunt away from my running vehicle … but I’m sure I *did*.
The thing is, as silly as any specific regulation may seem, there IS logic behind it. The rational may be outdated and thus no longer applicable, but laws were not enacted for the sake of using up legislative time. I doubt regulations were enacted as a farce. It would be an interesting academic study to enumerate all regulations for a particular branch and research the history and rational for each of them. Some are obvious — fleet fuel economy standards are to reduce oil usage. Emission standards are meant to reduce pollution. Then there are regulations such as 15 U.S.C. §§330a — “No person may engage, or attempt to engage, in any weather modification activity in the United States unless he submits to the Secretary [of Commerce] such reports with respect thereto, in such form and containing such information, as the Secretary may by rule prescribe. The Secretary may require that such reports be submitted to him before, during, and after any such activity or attempt.” Sounds a little bit silly at first, but if nothing else tracking weather modification attempts and their wider impact has value.
There are regulations on the banking industry, oversight of derivative markets, rules governing stock trading. Publicly traded companies are required to file accurate financial information with the SEC. It is not legal to dump toxic chemicals into the environment. The FDA has guidelines that are meant to ensure the safety of foods and labeling laws so you have a basic idea of what you are consuming. There are fleet average fuel efficiency requirements. There are laws against manipulating energy markets. There are regulations that protect intellectual property.
I understand the argument that the free market would drive some of these same ends. If fuel economy is a concern to people, then more fuel efficient cars will be in demand. But that depends on honest, accurate reporting from corporations, and individuals being able to get the information they need to make an appropriate decision. I, personally, do not want to research the reputation of ten different companies before purchasing a bag of flour. I enjoy the fact that a bag that contains something other than ground up wheat lists the ‘extras’ – at the point of purchase, I can read the bag and decide if it is something I want to purchase. I also know that there are random inspections and any company lying about their ingredients is likely to incur a significant fine.
Another ‘free market’ example is the reduction of polystyrene packaging. Thirty years ago, any fast food purchase included a Styrofoam container (or three). In the 80’s, polystyrene materials were manufactured using chlorofluorocarbons (CFCs). When this became fairly widespread knowledge, manufacturing processes were changed to use HCFC-22 (better but still ozone layer impacting). Another public movement against the material came about because it does not biodegrade — and its ubiquitous use in packaging meant litter was everywhere. And would stay there until it blew away to be somewhere else. Some localities banned the material for restaurants, but it was never a widespread thing. But polystyrene packaging is nowhere as prevalent today as it was thirty years ago. This is a result of consumer pressure.
My point is that I am fully aware that consumers can drive business decisions. Other regulations are not easily replicated by purchaser decisions. And consumer decisions require accurate information. Get rid of SEC filings — something I’m sure would save time and money for corporations (and the SEC) — and there’s no standard set of information upon which I can make investment decisions. No longer require estimated fuel economy using a standardized method (even if the method itself could be improved), and how do you compare vehicles beyond general physics which tells me a giant H2 is going to be more fuel efficient than a little Fiat 500. Eliminate environmental regulations, how do I know a company’s impact on their local environment?
Declaring that businesses should stay in this country because we’re going to severely cut corporate taxes and eliminate 75% of regulations is just a stupid statement. Sure, this guy throws out stupid statements as beginning negotiating positions … but how does a self-proclaimed awesome negotiator not know to start low on some things and high on others. Companies want 100% of regulations eliminated … so our government has just started the negotiation at 75%. They either stand or go up from there.