The New York Times today highlighted the explosion in regulations under President Obama, particularly noting the CPSC and the controversy over the CPSIA. Here's what Inez Tenenbaum had to say about our problems:
"'I don’t want to put anyone out of business,' said Inez Tenenbaum, chairwoman of the Consumer Product Safety Commission, who was appointed by Mr. Obama. 'But if anything will help the marketplace, it is to make sure that people have confidence in the products that they buy.'" [Emphasis added]
Let's be clear about something - this is pure opinion. It may sound like fact, but there's nothing factual about that self-justifying remark. I am not aware of ANY data to support this point of view. I believe the tenor of Ms. Tenenbaum's remark is that she knows what's best for our markets, namely a lot more regulation. I thought her job was to make people safe . . . . She apparently contends that the market for children's products was sinking under the weight of declining consumer confidence and the CPSIA was some sort of stimulus bill intended to save our market with lots of confidence-restoring regulations.
That is a pretty rosy reconstruction of the CPSIA, don't you think? I love a good work of fiction!
I have a message for our overlords in Washington - thanks for all your help but frankly, I would prefer to run my business without your assistance. We know our customers, our suppliers, our products and most definitely, our markets - and you do NOT. You say our market needs a boost of consumer confidence. I say that if it does, we'll take care of it ourselves. You have no right to enter our market and tell us how to run our businesses more successfully. That's the ultimate in regulatory arrogance and is completely contrary to the capitalist system prevailing in this country. We are the efficient capital allocators, not YOU.
This is all Washington "spin". The noxious regulations choking our businesses are indefensible for their safety impact so now our regulators are telling us the new rules have been designed to be GOOD for our markets. Pass me a barf bag.
I would like to close by quoting the May 12 HTA letter on the Waxman Amendment:
"Finally, we hope to settle any confusion regarding our intent in endorsing the CPSEA. We endorsed it as our only available alternative. We truly believe that many of our members will be forced out of business after February 10, 2011 without meaningful, clear reform provided by your committee."
Thanks, Congress and CPSC, for boosting our markets so well with all your new regulations. It's a brave new world for all of us. Yippee.
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from the NYT article:
"Mr. Orszag defended the administration, saying if each new regulation is based on good science, and drafted to maximize the benefit while minimizing the costs, the country will be better off.
“If the assertion is that we are more willing to adopt policies that have benefits far in excess than cost, rather than being motivated by dogmatic opposition even when it generates huge benefits, then sure, guilty as charged,” Mr. Orszag said."
Well CPSIA clearly does not fit that standard. So where is the Obama administration in calling for changes to the law?
Coming soon: CPCC
The Consumer Product Confidence Commission.
(soon to be followed by the CPCIA)
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