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Governomics: Wall St. falls sharply on oil drop, global growth worries.

(Reuters) - Global growth worries and a sharp drop in oil prices sent jitters th...





Regulatory Overreach: Obama Administration's Case Against Gibson Guitar Drags On

Gibson’s violations were deemed so severe that armed federal marshals entered its facilities in Nashville and Memphis in August 2011 and seized millions of dollars’ worth of guitars, which the government alleges may have been constructed of wood illegally harvested in Madagascar and India. As the months have dragged on with no charges yet filed in either case, however, it appears more and more that Gibson is the victim of a stunning example of regulatory overreach by the federal government.

In a recent interview with Todd Myers of the Washington Policy Center’s “Forest Certification Audit project,” Gibson President Henry Juszkiewicz reviewed his company’s environmental credentials and critiqued the impact of green certification schemes on American business. He complained that the Lacey Act, a regulation meant to prevent the use of illegally harvested wood, is severely flawed in practice, because it includes “no prescription for actually obeying the law.” ...continue...

" An unlimited power to tax involves, necessarily, a power to destroy; because there is a limit beyond which no institution and no property can bear taxation. "

--John Marshall

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