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  • Monthly Archives: October 2008

    Did Over-Regulation Cause the Market Meltdown?

    This week “60 Minutes” highlighted an obscure statute that some say is at the root of the recent market meltdown: the Commodity Futures Modernization Act of 2000. The CFMA exempted certain derivatives from existing state and federal regulation. But “60 Minutes” failed to ask the most interesting question: Why was … More

    Tankosphere Today: Oct. 29, 2008

    My Apologies to the Swiss (Hold Firm Against OECD Meddling) – OpenMarket.org Last week, the German government said that Switzerland should be placed on the international blacklist for tax havens. Really? That is, according to Peer Steinbruck (German finance minister)… Card Check: How Would It Stimulate the Economy? – Shopfloor.org … More

    Consequences of Obama Tax Plan: Slower Output, Job Growth

    The Heritage Foundation recently published an evaluation of the candidates’ tax plans. This analysis assumed the tax reductions of 2001 and 2003 expired on schedule, or at the end of 2010, and that each tax plan reacted to what would be a very large tax increase if Congress and the … More

    More Help for the Auto Industry? Just Say No

    General Motors wants to merge with Chrysler. Doesn’t sound so bad, right? Turning Detroit’s Big Three into the Big Two might be just the remedy for an ailing U.S. auto industry. Maybe not. But that’s not the problem. The problem is how GM is proposing to merge with Chrysler — … More

    Obama Continues Airing False Ad

    Barack Obama’s campaign continues to air a false and inaccurate TV ad that misrepresents the views of The Heritage Foundation. After formally requesting yesterday that the campaign pull its ad touting the candidate’s tax plan, neither Heritage nor our attorney have heard from Obama’s campaign (although a campaign spokesman issued … More

    The Founders and Redistribution of Wealth

    We’ve heard a lot lately about “redistribution of wealth.” What would the American Founders think? Property rights provide the foundation of prosperity. As Americans, we’re accustomed to a revolutionary guarantee that we may labor, earn wages and acquire property — and rest assured that what we earn and acquire will … More

    If Governments Are Always 'Behind the Curve'...

    …then how can we trust them to better manage the economy? A few weeks ago famed currency speculator George Soros made news complaining that financial regulators had been “consistently behind the curve” during the unfolding financial crisis. But why is Soros surprised? It seems that “behind the curve” is one … More

    The End of a Free Trade Era?

    If you support free markets, Mary Anastasia O’Grady’s Wall Street Journal op-ed makes for frightening reading: The U.S. hasn’t elected a genuinely protectionist president since Herbert Hoover, and for most of the last 80 years a rough bipartisan consensus has held that free trade is in the American national interest. … More

    Connecting the Dots: Fannie, Freddie and ACORN

    Since the housing bubble first began to burst, we have been quick to note the integral role that government-sponsored entities Fannie Mae and Freddie Mac played in distorting the housing market. However, we have also been skeptical of some claims that the Community Reinvestment Act (CRA) played in facilitating the … More

    If Heavy Regulation Is So Awesome...

    … then why are so many lightly regulated jurisdictions largely avoiding the current financial crisis? Tyler Cowen notes: A Friday article says this: The worldwide financial crisis is proving a lot more damaging than was expected. Not in Cayman, yet, but we had better get ready for it to affect … More