As 2014 comes to a close, it is enveloped in red tape. From the breakfast table to the night light, government regulators invaded nearly every moment of our lives. Here’s our take on the 10 worst examples of the past year:
10. Federal Censorship Commission. The FCC began considering a petition to revoke the broadcast license of a Washington, D.C., radio station for using the name of the city’s football team, the Redskins. FCC chairman Tom Wheeler declared the moniker “offensive” and urged owner Dan Snyder to change it “voluntarily.” The agency has yet to rule on the petition.
9. April Fool’s Rule. The Volcker Rule prohibits banks from trading securities on their own accounts. The 1,000-page regulation crafted by five federal agencies over three years supposedly remedies one of the causes of the 2008 financial crisis. But there is no evidence to support that claim. That the rule took effect on April Fool’s Day is thus entirely appropriate.
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