Regulatory binge will hurt business.

The final days of the Clinton administration appear rather serene as the president spends much of his time reflecting on his eight years in office.

But lest you think the wheels of government have come to a grinding halt while Washington makes the transition to a new president, federal regulators are working overtime churning out scores of new rules and regulations that will have a costly effect on businesses long after this administration is history.

From highly publicized ergonomics rules to lesser-known clothes-washer efficiency standards, government agencies are operating at extraordinary competence pumping out new rules. Most of these "midnight …