Regulation

It's a political tale as old as Capitol Hill: A lumbering industry selects a certain corporate-friendly party to be its Beltway patsy. In exchange for the requisite campaign donations and other perks, members of said party use their clout to push through the industry's legislative agenda--an agenda that would rip off consumers and harm the overall economy but enrich the corporate string-pullers immensely. Pundits and public-interest types grumble over the bald-faced cronyism, but as long as the money keeps flowing,… more

Fresh from a morning surf off the coast of Malibu, the maharishi of the wireless Internet shows up at the Beverly Hills Four Seasons sporting a rumpled T-shirt and Mayan sandals. It's an outfit more popular among aging head shop owners than youthful tech moguls, but Sky Dylan Dayton likes to live up to his Age of Aquarius name.

Besides, the Wavy Gravy getup is crucial to Dayton's offbeat allure. His man-of-the-people sales patter could seem corny coming from a… more

Until recently, energy-trading giant Enron was hailed as a paragon of corporate governance. The firm's rapid ascent was credited to an ambitious leadership, which maintained solid earnings despite an aggressive expansion strategy that drained cash flow. Institutional investors fattened their portfolios with Enron's high-octane stock, and CEO Kenneth Lay hobnobbed with then-Governor George Bush at baseball games.

Yet behind the facade of success lay dirty secrets. Enron executives are suspected of concealing massive losses from shareholders through a series of… more

Early last December, as the postelection fracas neared its end, the conservative Progress and Freedom Foundation hosted a one-day Washington conference on the future of communications. The event drew a Who's Who of telecom lobbyists, elite members of prestigious K Street firms that represent companies like Verizon, AT&T, and Viacom, The top draw was a keynote speech by Michael K. Powell, a member of the Federal Communications Commission who was widely expected to become the agency's next chairman.

The high-powered… more

The U.S. Food and Drug Administration has long been the target of both industry and ideological forces seeking to scale back regulation. With a Republican now in the White House, conservatives are once again sounding the call. On February 2, The Wall Street Journal published an editorial railing against the FDA's "costly and archaic system of drug regulation." Enabling consumers to access the "wonder drugs" of the twenty-first century, the Journal argued, requires eliminating "the last century's regulations."

President… more

Last week President Bush made one of the most important environmental decisions of his presidency: He chose Harvey L. Pitt to be chairman of the Securities and Exchange Commission. Few people consider … more