HL CHAPTER 3 Now Is the Time to Panic: What to Do When Safety Fails Foolproof by Greg Ip

CHAPTER 3 Now Is the Time to Panic: What to Do When Safety FailsRead more at location 830

Note: 3@@@@@@@@@@@@@@@SICUREZZA CIBO E GIOCATTOLI Edit

The spinach recall was to food what the subprime mortgage crisis was to finance: a watershed event that prompted wholesale regulatory changes. There had been proposals stalled in Congress for years to require growers and processors throughout the food supply chain to take preventive steps against contamination and audit their suppliers to aid in tracing sources of contamination. Together with several other foodborne illness outbreaks, the spinach incident melted industry opposition, and in 2011 the Food Safety Modernization Act passed.Read more at location 845

Note: LO SPINACIO E IL SUBPRIME Edit

The premise of safety is, most of the time, true. Even during outbreaks of foodborne illness, the vast majority of food is fine. But the slight possibility that a portion may be tainted is unacceptable when the public is accustomed to taking its safety for granted, and the response is to discard everything: a small amount that’s bad and a vast swath that’s good.Read more at location 852

Note: EFFTTO MELA MARCIA Edit

fact,Read more at location 855

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perception,Read more at location 855

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Natural Resources Defense Council, an environmental group, began studying the potentially carcinogenic properties of Alar, a pesticide sprayed on apples to improve their appearance and the length of time they stayed on the tree.Read more at location 856

Note: PESTICIDI Edit

An American supermarket chain yanked all the apples off its shelves after trace amounts, none exceeding government standards, were found in its apple juice. “We’re dealing with perceptions here,” said a spokesman. “We’re not dealing with reality.”Read more at location 861

Note: LA REALTÀ NN CONTA Edit

manufacturer’s request,Read more at location 866

Read more at location 830

Note: 3@@@@@@@@@@@@@@@SICUREZZA CIBO E GIOCATTOLI Edit

The spinach recall was to food what the subprime mortgage crisis was to finance: a watershed event that prompted wholesale regulatory changes. There had been proposals stalled in Congress for years to require growers and processors throughout the food supply chain to take preventive steps against contamination and audit their suppliers to aid in tracing sources of contamination. Together with several other foodborne illness outbreaks, the spinach incident melted industry opposition, and in 2011 the Food Safety Modernization Act passed.Read more at location 845

Note: LO SPINACIO E IL SUBPRIME Edit

The premise of safety is, most of the time, true. Even during outbreaks of foodborne illness, the vast majority of food is fine. But the slight possibility that a portion may be tainted is unacceptable when the public is accustomed to taking its safety for granted, and the response is to discard everything: a small amount that’s bad and a vast swath that’s good.Read more at location 852

Note: EFFTTO MELA MARCIA Edit

fact,Read more at location 855

Add a note

perception,Read more at location 855

Add a note

Natural Resources Defense Council, an environmental group, began studying the potentially carcinogenic properties of Alar, a pesticide sprayed on apples to improve their appearance and the length of time they stayed on the tree.Read more at location 856

Note: PESTICIDI Edit

An American supermarket chain yanked all the apples off its shelves after trace amounts, none exceeding government standards, were found in its apple juice. “We’re dealing with perceptions here,” said a spokesman. “We’re not dealing with reality.”Read more at location 861

Note: LA REALTÀ NN CONTA Edit

manufacturer’s request,Read more at location 866

HL CHAPTER 2 “Please, God, not in my district Foolproof by Greg Ip

CHAPTER 2 “Please, God, not in my district”: Before the Economy Could Destroy Itself, First Paul Volcker Had to Save ItRead more at location 477

Note: 2@@@@@@@@@@@@PAUL VOLCKER Edit

I noted that he sternly disapproved of moral hazard and had frowned on the Fed’s bailout of so many companies during the recent crisis. So I asked why it was okay then to bail out Continental Illinois in 1984. He said, “You’re always worried about the effects elsewhere. Continental Illinois was not the only bank in trouble at the time.”Read more at location 547

Note: VOLCKER: IL FALCO CHE SALVA Edit

‘What this country needs to shake us up and give us a little discipline is a good bank failure. But please, God, not in my district.’” He smiled.Read more at location 551

Note: FALLIMENTI. MA NN DA NOI Edit

It’s often said that the financial crisis was brought on by deregulation, such as the repeal of Glass-Steagall, the Depression-era law that split commercial banks from securities dealers. But this is an oversimplification. In the decades before the financial crisis, there was plenty of both regulation, such as increased capital requirements, and deregulation, such as the repeal of Glass-Steagall. Some deregulation, to be sure, was meant to better enable banks to compete. But regulators, in the process, thought they were correcting the flaws in earlier rules that made banks more fragile.Read more at location 565

Note: DEREGULATION Edit

Note: MIX DI REGOLE E DEREGOLE Edit

Glass-Steagall, they thought, had caused the best-quality borrowers to issue bonds instead of takeout bank loans, leaving banks with the riskiest borrowers. Allowing banks to underwrite bonds and other securities would correct that flaw.Read more at location 569

Note: XCHÈ IL GS È STATO SPAZZATO VIA Edit

Their efforts did make banks safer; but for the economy as a whole, safety was illusory because much of the risk had been pushed outside the banks, such as to mortgage companies like Countrywide Financial and off-balance-sheet investment funds.Read more at location 572

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Yet the migration of risk to shadow banks began as a consequence of Volcker’s efforts to fix banks.Read more at location 577

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