“A storm of online criticism has roiled the two largest fantasy-sports companies in North America,” writes Wall Street Journal reporter Sarah E. Needleman.
Category Archives: Market Failure
The Gold King Mine Blowout, Part 2:
More EPA behavior that would get a private party in very hot water
Previously we posted on EPA’s Gold King Mine blowout, identifying aspects of the Agency’s conduct that would bring ruin on a private entity:
- The size of the blowout is much larger than EPA said it was.
- The scale of potential environmental damage and adverse effects on human health is vast.
- EPA apparently delayed reporting the blowout to state and local officials.
- EPA was slow to collect data, make it difficult to access, and published it in a format that is very difficult for the public to understand and utilize.
Today we can add two additional ways EPA is behaving in ways that would increase a private party’s risk of fines, penalties and criminal prosecution.
Violations of environmental laws carry substantial risk of fines for violations, whether or not the violation was negligent. On August 5, a cleanup crew of Region 8 of the US Environmental Protection Agency breached a debris dam at the Gold King Mine. This is a major environmental event. Public and agricultural use of downstream waters has stopped as communities have declared states of emergency.
If a private entity had been responsible for it, EPA and the Department of Justice would seek substantial fines and penalties, and perhaps file criminal charges, especially for its delayed an incompetent reporting. Suppose EPA were subject to fines and penalties. How large might they be?
The Nationl Law Journal reports that the Iowa Supreme Court is considering whether to extend the “diploma privilege” to graduates of the University of Iowa College of Law and Drake University Law School, allowing them to enter the profession without passing the state’s bar examination.
Why would the Iowa Supreme Court want to do this? Why would the Iowa Bar Association, the guild in question, support the idea?
One of witnesses at the January 16 hearing before the House Committee on Science, Space & Technology (“Is My Data on Healthcare.gov Secure?) was David Kennedy, CEO of TrustedSec LLC. Kennedy describes his firm as engaged in “white-hat hacking”–it is hired by entities that want to know how their computer systems are vulnerable to conventional, “black hat hackers.” They can reduce security threats only if they are armed with this information.
The Wall Street Journal’s Scott McCartney writes that airport food has gone upscale to appeal to affluent travelers having to spend more time in the sterile zone. The logistics of high-quality airport cuisine are daunting, but a least one airport restaurateur recognizes the externality of delay as a market opportunity.