What emerged most clearly from Obama’s speech Thursday was his faith in the efficacy of regulation, and, by implication, his belief in the intelligence and objectivity of regulators. In this, he revealed—and not for the first time—his predilection for political … read more
I was asked to appear on Fox News this morning to discuss financial reform, and dug around a little to prepare for the spot. While digging for positive steps to advocate, I rediscovered a remarkable piece by my colleague Alex … read more
Happy Earth Day! If you care about the environment, you should observe this special day (and others, if you can afford it) with a joyful spree of consumption, especially buying goods from people in poor countries. Writing a few letters … read more
Sebastian Mallaby had an excellent column in the Washington Post questioning the Securities and Exchange Commission’s case against Goldman Sachs. At the crux of that case is the allegation that Goldman Sachs misled investors in a particular financial undertaking by … read more
Have you ever been talking to your next-door neighbor—or accountant, pastor, or second cousin—about some economic policy, and wish you had a bite-sized, accessible resource to explain the subject concisely? Perhaps she’s scared to death that we’re going to destroy … read more
… if the principle here is that a large complex financial institution should not service issuers that seem certain to default, California should just declare bankruptcy today. Currently, one-third of their revenue is in deficit, an unsustainable cash-burn rate. Legislators … read more
As an early contender for “Most Misleading Headline of the Year,” consider this from today’s Wall Street Journal: “The GM Bailout: Paid Back in Full.” It tops a piece by General Motors Chairman and CEO Ed Whitacre, who writes: Today, … read more
There’s been much blog chatter about the creeping “epistemic closure” on the intellectual right (Jonah weighed in on that here).The allegation is, to a certain extent, falsifiable; just ask Kevin Hassett and Dean Baker or Rick Hess, among many others. … read more
Today is Equal Pay Day, the date that is supposed to symbolize how far into 2010 the average woman would have to work to earn the same income that the average man earned in 2009—see Christina Sommers’s excellent article in … read more
It’s hard to keep repeating the same point over and over, but when other folks keep getting it wrong it’s a little hard not to. The Obama administration has long argued that rising per capita health spending—not the aging population—will … read more
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