Did you notice this story? I’m guessing not. This subject is about as important as it gets, important enough for Page One treatment, but it lacks the “news” elements (blood, yelling) that gets you there.
No one died, no one is screaming bloody murder, and no one (yet) has figured out a way to politicize it. That last part surprises me.
Anyway, it’s a story about how government is supposed to work. It’s a story about how regulations can actually improve a situation. Yes, improve. No, make that save. It’s also implicitly a story about how private enterprise, left to its own devices, can erect an edifice that will fall…..on you.
So it is in fact a story about the larger political debate in the United States, which is why I’m surprised there’s less fighting about it. These are the kind of regulatory actions that should have been in place before the crash, and weren’t. They weren’t because the smartest people in the country decided with beautifully crystalline economic theorizing allowed them disregard history and persuade themselves and lawmakers that now markets are totally self-correcting and self-regulating. So instruction to government: back off. Back off until it all falls down and then we’ll ask you to come in and save our sorry bacon.
Well, here’s a story about trying to do it differently, and I can only hope it’s not considered more ‘newsworthy’ because it is the new normal.