Where Are the Rules?

Although you, astute researcher, have probably noticed, it has just come to my attention that I'm not doing regulatory research the way I used to. You don't see many proposed rules in the Federal Register these days (or the Federal Reserve Bulletin, for that matter). Instead, this year's most important rules are being issued as press releases. As far as I can tell, the only place where one may find all the rules, agreements and guidelines governing stimulus spending is the web.

The Department of the Treasury has a very good links page, but some of the important documents are on the websites of other government entities like the New York Fed. The administration has put up two websites: recovery.gov, which is low on legal content, and financialstability.gov which is "coming soon."

These press release "rules" convey only general concepts. They arise in a vacuum - without visible discussion and free of the editorial explanations that accompany real rules. To me, this is a serious blow to the authority of the rules and to the notion of government transparency generally.