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Shareholders, by and large, want to prevent regulation that would reduce their returns.
We have a robust liquor industry that lobbies the government fiercely to prevent regulation of alcohol sales.
Americans assume that chemicals are tested before being released into the marketplace, but, even when testing is required, companies exploit scientific uncertainty to delay and prevent regulation.
It was the fruit of vigorous lobbying, which strived equally hard to prevent regulation of changes in the financial structure, new products like credit default swaps – which, while supposedly designed to manage risk, actually created it – and ingenious devices to exploit poor and uninformed borrowers and investors.
The idea that Mr. Rockefeller, who has had health problems in recent years, would not seek a sixth term became widespread last June when he gave a Senate speech opposing Republican attempts to prevent regulation on mercury emissions from coal-fired power plants.
In 1924, at the height of the controversy, the president of the Southern Textile Association, whose interest was to prevent regulation of cheap child labor in cotton mills, sent an estimated 50,000 pieces of literature to Southern farmers claiming that the proposed amendment would invade their homes and give the federal government control over their children.
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At the time CTC was also still fighting to prevent regulations that would, eventually, force cyclists to use rear red lights.
The letter was released the same day the budget amendment was finalized, without the rider that would prevent regulations.
Specifically, they prevented regulation of those opaque CDOs and CDSs that would come to derail the world's economy.
As outlined in multiple books (and now a documentary film) the tobacco industry pioneered a method for disputing scientific reality for the purpose of preventing regulation, and the fossil fuel industry has been following this playbook since the 1990s.
He didn't say exactly how, but he did make clear why: "Self-regulation can prevent government regulation".
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com