3 Matching Annotations
  1. May 2020
    1. the Wholesome Meat Act (I kid you not) of 1967 creates three parallel meat streams depending on the inspection in place at the slaughterhouse. Giant meat packers, who have full USDA inspection, can sell their products (and any ancillary pathogens) anywhere in the country. Smaller state-inspected facilities can sell only within their home state. And the smallest slaughterhouses can sell only to people who bought a share in the animal while it was still alive. Meat inspection is a cracking example of the capture of regulatory authority by the largest players, and it is by no means unique to the US. And according the The Counter, the bigger processing plants are getting more favourable treatment even during the Covid-19 emergency.
    1. But the scariest outcome of the centralization of information in the age of social networks is something else: It is making us all much less powerful in relation to governments and corporations.
  2. Feb 2020
    1. If private-equity firms cannot be socially responsible stewards of capital, then Congress will need to act. One possible reform would involve fully taxing the advisory and other fees that private-equity investors extract from the companies they own. Another potential reform would impose restrictions on dividends paid out in the two years following a buyout. Since the current system allows private-equity firms to reap much of the positive gains from successful acquisitions, they could also be required to bear some of the liability for a company’s debt when the buyout ends in bankruptcy.