David Aronson, New York Times:
The “Loi Obama” or Obama Law — as the Dodd-Frank Wall Street reform act of 2010 has become known in the [central African] region — includes an obscure provision that requires public companies to indicate what measures they are taking to ensure that minerals in their supply chain don’t benefit warlords in conflict-ravaged Congo. The provision came about in no small part because of the work of high-profile advocacy groups like the Enough Project and Global Witness, which have been working for an end to what they call “conflict minerals.”
Unfortunately, the Dodd-Frank law has had unintended and devastating consequences, as I saw firsthand on a trip to eastern Congo this summer. …
6 Comments
The road to hell is paved with good intentions! Why does it seem that Barney Frank is always in the middle of (or more likely the cause of) some debacle.
And Americans continue not to understand tribal mentality?
I work in a precision machine shop. Some of our customers are starting to ask us to supply this sort of paperwork but we are having difficulty getting it from our suppliers.
So far, no one has rejected parts because we didn’t have this, but I fear it is only a matter of time.
Can we not reduce the duration of each session of Congress by, say, 10 days per session until Congress meets for only two weeks per session? This would at least reduce the amount of time congressmen have to wreak havoc on the public and the republic.
Since Congress already doesn’t read the bills it passes, the argument that this reduction would somehow compromise its authority is risible.
Congo sacrificed at the altar of political correctness via left wing advocacy groups. Must be a nice view from the ivory tower…
Around the web, August 11…
Exxon Mobil asks for en banc review of 2-1 DC Circuit decision with expansive view of Alien Tort Claims Act. [BLT; Doe v. Exxon Mobil petition for rehearing en banc] Loser pays in action: Mattel’s unsuccessful suit against competitor trying……