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  • Monthly Archives: September 2008

    Morning Bell: Did Ken Lay Get to Write Sarbanes-Oxley?

    The $700 billion that Treasury Secretary Hank Paulson is requesting from Congress to restore liquidity in the financial markets is a breathtaking sum of money. But it is also important to remember Paulson has already committed $200 billion to recapitalize Fannie Mae and Freddie Mac. The size of their bailout … More

    This Week in Washington: Sept 22, 2008

    There are three big issues in This Week in Washington. Last week the House passed a sham energy bill that does not give states an incentive to allow off-shore drilling. That bill can possibly come before the Senate this week. Also coming before the Sentate is Majority Leader Reid’s (D-NV) … More

    Tankosphere Today: Sept 22, 2008

    A Positive Trend in Legal Thinking – InsiderOnline U.S. judges should be guided by U.S. law, not the judgments of foreign courts. However, there is one trend in foreign jurisprudence that U.S. judges should note: Other nation’s courts, reports the New York Times, are citing U.S. Supreme Court decisions… Biden … More

    Online Anonymity? Go Directly to Jail

    Forget the over-hyped bogeymen net neutrality and the ever-more-omniscient Googleplex. The real threat to Internet freedom comes from plain old criminal law. In three weeks time, Missouri housewife Lori Drew will face trial for entering false personal details when she signed up for a MySpace account. Her indictment alone, whether … More

    Restoring Markets, Protecting Taxpayers

    So much has happened in just the past week, but our analysts are on top of the situation. Here is what Heritage has so far on the current situations in Wall Street and Washington: What Should Be Done About the Financial Markets? Stuart Butler, Alison Fraser, and James Gattuso outline … More


    Yes financial markets are in turmoil right now. But as Dr. Mark Perry of Carpe Diem reminds us, the last 30 years has witnessed an unprecedented gain in U.S. household net worth that is not fundamentally threatened: According to the Federal Reserve, U.S. household net worth fell by $2 trillion … More

    The Glass-Steagall Myth

    It has become an article of faith on the left that the 1999 Gramm-Leach-Bliley Act is to blame for the current crisis on Wall Street. Typical of the herd, George Polk Award winner Josh Marshall writes at Talking Points Memo: Let me get this straight. John McCain’s top economic advisor, … More

    Morning Bell: Highway Robbery

    As a general principle, conservatives believe government should not intervene to protect those who have made poor business decisions — even if those decisions have been influenced by excessive government regulation. But there can be rare situations where the cumulative effect of many bad decisions in one sector of the … More

    Text of the Bailout Legislation

    The following language was circulated on Capitol Hill this morning as Treasury’s plan to purchase residential or commercial mortgages. Heritage released eight goals and strategies that should guide lawmakers during the debate this coming week. LEGISLATIVE PROPOSAL FOR TREASURY AUTHORITY TO PURCHASE MORTGAGE-RELATED ASSETS Section 1. Short Title. This Act … More

    Bell Ringers

    Roundup of Op-Ed’s from the Heritage Foundation Should Washington loan the Big Three automakers $50 billion to develop fuel-efficient vehicles? No By Nick Loris and James Gattuso Regardless of whether such an assertion holds true for Freddie Mac and Fannie Mae, that argument does not hold water for the auto … More