Obama memo against pre-emption has critics worrying about lawsuits - bizjournals:

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A May 20 memo from Obamaa also directed agencies to review regulationd issued during the past 10 yeare to see if theycontained pre-emptions that are not If they do, agencies should consider amending the the memo stated. “Pre-emption of state law by executive departments and agenciesa should be undertaken only with full consideration of the legitimatw prerogatives of the states and with a sufficien legal basisfor pre-emption,” the memo states. Durinb the Bush administration, regulatory agencies sometimeeincluded pre-emption language in the preambles of regulations.
Obama’e policy against federal pre-emption of stated laws will result in more lawsuits against particularly in the area of product according to the andthe . “Manufacturers sell products into anationakl market, and a single, national regulatorty standard helps ensure predictable treatment in the said association Vice President Rosario “It’s unwise to replace a regulatory system basedd on objective science and agencty experts with a 50-state patchwork of often arbitrary jury decisions. Lisa president of the , said the memo was a gift to lawyers.
“Removing pre-emption runs completely counter to the goal of stabilizingg the economy andgrowing jobs, except for thoser in the lawsuit business,” she said. The , formerly known as the , praised Obama’sx memo. It “makes clear that the rule of law will once agaibn prevail over the rule of said association PresidentLes Weisbrod. “Th memo overturned actions take n by Bush administration bureaucrats who were influencedby well-connected corporations who wanted to rewritee and reinterpret congressional legislation, underminwe the constitutional system of checks and and put the public at risk and compromise laws designes to give Americans basic rights to hold wrongdoerse accountable.
” Microloans up, big loans down for small businesses last year Lendin g data collected by the ’s Officre of Advocacy confirms the importance of busineses credit cards to small firms. A new report found that the total valueof small-business loanse outstanding increased by 4 percent in the 12 monthss that ended in June 2008, down from the previousw year’s increase of 8 percent. These numbers are for small-business loans as a whole, not just SBA The number of business loans of lessthan $100,000 jumpee by nearly 16 percent, as large lenderxs concentrated on credit according to the study.
By contrast, the number of businesse loans inthe $100,000 to $1 million rangde fell by more than 23 percent. The repor used call reports submitted by banks as well as Community ReinvestmentAct data. Business loanzs of less than $1 million were consideredr to be small-business loans. Based on call report data, the top five small-business lenders in June 2008 were , , , and Presideng Barack Obama has selected a venturde capitalist to be chief counsel of the SmalplBusiness Administration’s Office of Advocacy, a post usually held by an attorney. Winslosw Sargeant, a managing director in the technology practic eof Madison, Wis.
-based Venture Investors, is Obama’ss choice to head the Office of Advocacy. The officre is an independent entity inside SBA that ensures that federak agencies consider the impact of their regulations onsmalpl businesses. He is the second venturs capitalist to be selected for a top post atthe SBA. Agencyy Administrator Karen Mills worked as a principal in private equityu and venture capital firmss for 26 years befored she took over the SBA in Sargeant worked as a senior engineer at several large corporationsbefore co-founding Aanetcom, a semiconductor chip company that later was acquired by PMC-Sierra.
From 2001 to he served as program manager for the Smal Business Innovation Research program atthe ’a engineering directorate. Sargeant’s lack of legalo training means he will have to rely heavily on the attorney at the Office of Much ofthe office’ work involves analyzing whether governmen agencies have followed federal laws that requirw them to analyze the economic impact that proposed rules woulsd have on small businesses.
In fiscal this input saved small businessesabout $11 billion in forgonew regulatory costs, according to the