When Treasury Secretary Henry Paulson first announced his $700 billion Wall Street rescue plan, Sen. Chuck Schumer (D-NY) promised: “We will not Christmas-tree this bill. The times are too urgent. Everyone has their own desires and needs. It’s going to have to wait.” So how did Congress live up to …
Lehman Bros hearing — Rep. Maloney Blames Deregulation, Ignores Her Own Role as Fannie’s Enabler – OpenMarket.org At the hearing being held today by the House Oversight and Government Reform Committee, in which former Lehman Brothers CEO Dick Fuld is now testifying, an earlier panel attempted to look at the …
The left really has no idea what free markets are. Witness Washington Post columnist Harold Meyerson who wrote a column last week blaming the current credit crisis on ‘unregulated capitalism’ and ‘laissez faire’ policies. According to Merriam-Webster, ‘laissez faire’ means: “a doctrine opposing governmental interference in economic affairs beyond the …
There are several issues in Washington this week following the passing of the Bailout legislation. Here are some key issues to be aware of this week: Congress passed a massive Continuing Resolution to fund the government for the next year and inserted some ridiculous earmarks and special interest projects. Some …
If you thought passage of last week’s $700 billion Wall Street bailout meant Congress would get out of Washington, you’re not that lucky. Determined to pin the credit crunch on free markets, Chairman Henry Waxman (D-CA) has announced a whole month’s worth of hearings in the House Oversight and Government …
Robert Lawson has a great post at Division of Labor exploring the relation between power, free markets, and government: Let’s explore this point a bit by comparing the concentration of financial power in the hands of the 535 members of the United States Congress with the concentration of financial power …
