Another Agency Needs More Money

Fri, 03/12/2010 - 11:52 EDT  in
 

Wall Street Strategies submits:By Charles PayneStop me if you've heard this before... a government agency apparently comes up short in meeting their responsibilities and the knee-jerk reaction is more money and more authority. The latest is the National Highway Traffic Safety Administration (NHTSA), currently headed by David Strickland, who is voicing a need for more authority. This call for more power comes as Congress is taking a closer look into the agency's role in the Toyota (TM) recall fiasco. Without a doubt new rules are coming for automakers, including making so-called black boxes to store crash data mandatory as well as braking systems that override the gas pedal. In the meantime, former NHTSA administrator Joan Claybrook testified the agency has been "viewed by the motor vehicle industry for years as a lapdog, not watchdog." If this sounds familiar it's because we heard these sorts of comments in the aftermath of Bernie Madoff and the stock market meltdown.Complete Story »

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