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mixed bag of regulatory rollbacks

Accepted submission by Runaway1956 at 2017-03-06 12:30:05 from the news politics dept.

Leashes Come Off Wall Street, Gun Sellers, Polluters and More

WASHINGTON — Giants in telecommunications, like Verizon and AT&T, will not have to take “reasonable measures” to ensure that their customers’ Social Security numbers, web browsing history and other personal information are not stolen or accidentally released.

Wall Street banks like Goldman Sachs and JPMorgan Chase will not be punished, at least for now, for not collecting extra money from customers to cover potential losses from certain kinds of high-risk trades that helped unleash the 2008 financial crisis.

And Social Security Administration data will no longer be used to try to block individuals with disabling mental health issues from buying handguns, nor will hunters be banned from using lead-based bullets, which can accidentally poison wildlife, on 150 million acres of federal lands.

These are just a few of the more than 90 regulations that federal agencies and the Republican-controlled Congress have delayed, suspended or reversed in the month and a half since President Trump took office, according to a tally by The New York Times.

The emerging effort — dozens more rules could be eliminated in the coming weeks — is one of the most significant shifts in regulatory policy in recent decades. It is the leading edge of what Stephen K. Bannon, Mr. Trump’s chief strategist, described late last month as “the deconstruction of the administrative state.” []

In the submitter's opinion - some of these rollbacks are mistakes. Others, though, should never have been passed. For instance, the Social Security Administration being drafted into notifying law enforcement agencies of HIPAA protected information. The MPG requirements on American auto makers? The fuel efficient cars are available, but no one wants them. Left and right alike, buyers demand the gas guzzlers. Banking regulations, though, should stay in place. Trump should know that the bankers won't regulate themselves. FFS, he saw the same meltdown that we all saw in 2008!

Original Submission