President Barack Obama has fired the inspector general who found misuse of AmeriCorps funds at a nonprofit education group headed by Sacramento Mayor Kevin Johnson. The inspector general, Gerald Walpin, had investigated Johnson’s group, St. HOPE Academy, and discovered funds were being diverted for non-approved uses.
On June 10, Treasury Secretary Timothy Geithner announced several ways that the Obama administration intends to change corporate practices for determining executive compensation. The administration will support “say on pay” legislation, so named because it is supposed to give shareholders a say on how top executives are compensated, and other legislation granting the U.S. Securities and Exchange Commission (SEC) power to make sure that compensation committees “are more independent.” Additionally, famous Washington lawyer Kenneth R. Feinberg was named as an overseer of executive compensation packages for companies bailed out by the government.
Soon America will move, in all likelihood, from a Supreme Court with a Justice David Souter as a member to a court with a Justice Sonia Sotomayor. Neither the alphabetical order of the justices nor the constitutional disorder will change. Little will change but gender and ethnicity, which the major news media would have us believe are the most important considerations.
On May 28, the Competitive Enterprise Institute released the 2009 edition of their report on the impact of federal regulation. Entitled Ten Thousand Commandments: An Annual Snapshot of the Federal Regulatory State, the 51-page PDF delves into the morass of regulation oozing out of Washington. The Executive Summary of the report is posted at the institute’s website and gives a quick overview of the report’s findings.