Word: overreact
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Dates: during 1990-1990
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Some bankers are concerned that the government would overreact to the problem by piling on burdensome insurance premiums and new regulations that could make problems worse. Says Karen Shaw, a Washington-based banking analyst: "We could turn a safety net into a funeral shroud by wiping out the profitability of many of these banks." Testifying before the House Banking Committee, Federal Reserve Board Chairman Alan Greenspan argued against any immediate increase in the insurance premiums. Instead he favors increasing the amount of capital banks must keep on hand as a cushion against losses, since that safety measure might prevent many...
Government officials acknowledge that the scientists have a point. Says Charles Elkins, director of the EPA's office of toxic substances: "I would agree that in many cases removal is the wrong thing to do. It is a mistake for people to overreact. But it is also a mistake to say that asbestos is not a problem." In some situations, he says, simply blocking off an area or coating the damaged material with chemical sealants may do the trick. But asbestos insulation should probably be routinely removed from pipes in hallways, for example, to prevent passing children from dislodging...