Crony capitalism

Saturday, May 25, 2013

Crony capitalism, Dodd-Frank style

Peter J. Wallison | May 8, 2013, 9:26 am

Bob Benmosche, the chairman of AIG, is no fool. Interviewed on CNBC last week, he was asked whether he was concerned that his firm might be designated as a Systemically Important Financial Institution (SIFI) by a council of federal regulators … read more >

Credit: Stuart Gabriel, Matthew Kahn, Ryan Vaughn

Economics, Financial Services, Pethokoukis

A study in crony capitalism: Subprime lenders offered better deals to borrowers in districts of congressional big shots

James Pethokoukis | May 6, 2013, 11:17 am

UCLA researchers have found that leading up to the Financial Crisis, subprime lenders employed a novel method of influencing the political process. In addition to campaign contributions to key politicians, they gave special treatment to borrowers represented by key congressional … read more >

Carpe Diem

Dow Chemical’s real position on natural gas exports? It’s all about protecting Dow’s shareholders and its corporate profits

Mark J. Perry | May 1, 2013, 12:52 pm

Here’s an edited, and possibly more realistic and honest version of Dow Chemical’s position on natural gas exports, titled “How Do We Increase Jobs and Grow the U.S. Economy? Answer: It’s All About Balance Dow“: Economists say that, on the … read more >

Photo Credit: Leader Nancy Pelosi/Flickr

Economics, Free Enterprise

Dodd-Frank is the poster child for crony capitalism

Arthur C. Brooks | April 25, 2013, 1:45 pm

When policymakers respond to a perceived market failure (whether real or imagined) with “reforms” that instead create government failure, they tend to leave the overall economy much worse off — except for a few well-connected people and firms. The 2010 … read more >

Pethokoukis

Arthur Brooks: Reinvigorating conservatism isn’t just about messaging, it’s about morality

James Pethokoukis | March 4, 2013, 10:19 am

Today’s WSJ op-ed by my boss Arthur Brooks is exactly the reason why I am proud and excited to work at AEI. I doubt whether too many people think the center-right is soft on taxes and spending. It’s more so … read more >

Economics, Free Enterprise, Pethokoukis

Why the biggest US banks are even bigger and riskier than you think

James Pethokoukis | February 20, 2013, 8:57 am

Just how big are the biggest US banks, and how safe are they? When trying to figure all that out, it makes a big difference if you are analyzing them according to US accounting standards or international ones. The latter … read more >

Carpe Diem

One hour TV special tonight on the booming business of government in ‘Boomtown: Washington, the Imperial City’

Mark J. Perry | January 25, 2013, 3:01 pm

From the NY Times “What’s On Friday“: BOOMTOWN: WASHINGTON, THE IMPERIAL CITY In this edition of “Hannity,” the host, Sean Hannity; Peter Schweizer, the president and co-founder of the Government Accountability Institute; and Stephen K. Bannon, the executive chairman of … read more >

Carpe Diem

Video: Milton Friedman explains the difference between being “pro free enterprise” and “pro business”

Mark J. Perry | December 25, 2012, 12:31 pm

In the video above, Milton Friedman explains why he is “pro free enterprise” but not “pro-business.”

Pethokoukis

Should we tax lobbying to help stem crony capitalism?

James Pethokoukis | December 24, 2012, 12:49 pm

Nice catch by my pal Arnold Kling as his new blog, a pointer to a study on lobbying: We study how ex-government officials benefit from the personal connections acquired during public service. Lobbyists with experience in the office of a … read more >

Foreign and Defense Policy, India, Economics, International economy

India’s ungilded age

Sadanand Dhume | December 3, 2012, 9:58 am

In Friday’s Wall Street Journal Asia, I join an ongoing debate on whether India is in the midst of its version of America’s “gilded age.” The notion first acquired prominence last year when former McKinsey consultant Jayant Sinha and Brown … read more >