Not surprisingly the unions were able to secure some nice paybacks for helping democrats get seats in government.
WASHINGTON (AP) — The Labor Department moved Tuesday to rescind a regulation approved during President George W. Bush’s last days in office that would have increased scrutiny of union finances to help root out financial corruption.
The agency said it considered the comments of numerous labor organizations that claimed the new rule was overly burdensome and would have little effect on efforts to detect fraud.
Unions had also complained that the previous administration failed to take into account how well existing compliance forms already worked. The agency agreed, saying it would conduct further review of current financial reporting requirements before deciding whether more regulations were needed.
What I find amazing is that this administration is willing to see that regulation can be “overly burdensome and have little effect” when it comes to labor unions (who for some reason have enough money to need fraud agents), however it’s apparently ridiculous to them that the same types of regulations won’t have the same effect on businesses.
But wait, it gets better:
A notice published in the Federal Register proposes to withdraw the rule entirely and seeks comments on the agency’s proposal.
Union officials praised the decision, the latest in a series of pro-labor actions taken since President Barack Obama took office.
“From our perspective, the only interest served by this rule was to harass unions,” said AFL-CIO attorney James Coppess.
Unions are required to file annual financial disclosure reports to the Labor Department’s Office of Labor-Management Standards. The agency’s criminal enforcement program uses the information to investigate embezzlement from labor unions and other types of union fraud.
Labor Department figures show that investigations of union fraud from 2001-2008 resulted in more than 1,000 indictments, with 929 convictions and court-ordered restitution of more than $93 million.
The new rule would have required unions to disclose even more information about compensation to union officers and employees, details about buying or selling union assets and additional information about union receipts.
Over $93 million worth of people stealing from the people they are supposed to be helping and represting against the “evil corporate greed”, and Obama is trying to help them. The very people who advocate regulations to avoid fraud, are unwilling to accept regulations because they’re committing fraud.
What this goes to show is that the administration doesn’t care to treat everyone equally, but rather to give special benefits to those who voted in its favor.
Full story here.