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  • Obama: End Fannie and Freddie, but Keep Government in Housing Business

    President Obama lent his voice today to the growing consensus in Washington that federally sponsored housing giants Fannie Mae and Freddie Mac must go. While this is a welcome stance, he also called for new government guarantees for the housing finance market, which would only perpetuate the dangerous taxpayer subsidy … More

    Too Big to Fail: Some Questions for the House Financial Services Committee

    Tomorrow, the House Finance Committee, chaired by Representative Jeb Hensarling (R–TX), is holding a hearing on one of the most damaging legacies of the 2008 financial crisis: the “too big to fail” doctrine. Simply put, the doctrine holds that some firms are so essential to the functioning of the U.S. … More

    Internet Sales Tax Coalition “Fact Check” Needs Checking

    On Tuesday, the Marketplace Fairness Coalition, a group supporting the Marketplace Fairness Act (MFA), released a “fact check” memo identifying no fewer than seven “myths” put forward by The Heritage Foundation concerning Internet sales taxes. As it turns out, none are myths at all. Here is our own fact check … More

    Pro-Internet-Tax Groups Get the Facts Wrong

    A letter from a small group of four pro-Internet-tax advocacy groups sent to Members of Congress yesterday claims that The Heritage Foundation is wrong on the policy and the facts regarding the issue of Internet sales taxes. Their assertion falls short. There are several fatal problems with the bill, which … More

    New Red Tape Rising Report: Regulation in Obama’s First Term

    Congress and the White House have been focused for much of this year on the federal budget—rightfully so, given perennial deficits and unsustainable levels of U.S. debt. However, federal spending accounts for only a portion of the burden placed on Americans by the government. Regulations impose huge additional costs, hindering … More

    Too Big to Fail: Brown–Vitter Swings and Misses

    In an unusual left–right pairing, Senators Sherrod Brown (D–OH) and David Vitter (R–LA) last week introduced legislation to increase capital requirements on large banks. Calling it the “Terminating Bailouts for Taxpayer Fairness” or TBTF Act, the legislation is aimed at ending another TBTF: the doctrine of “too big to fail.” … More

    Sending a Message: USPS Sinks Saturday Service

    The U.S. Postal Service (USPS) caused an uproar yesterday when it announced that it would be ending Saturday delivery of letter mail this August, saving an estimated $2 billion per year. Opponents—including many Members of Congress—expressed outrage at the move, arguing that it would cause hardships for postal customers and … More

    Obama Picks a Prosecutor: Mary Jo White Appointed to Head SEC

    President Obama, moving quickly to complete the lineup for his second-term regulatory team, nominated attorney Mary Jo White yesterday to chair the Securities and Exchange Commission (SEC). The selection is a critical one, as the agency is still struggling to complete the rulemakings required under the Dodd–Frank financial regulation act, … More

    Morning Bell: The 10 Worst Regulations of 2012

    It seems that no aspect of American life can escape government regulation. In the past year, regulators drafted rules that addressed everything from caloric intake to dishwasher efficiency. Most of these rules increase the cost of living, others hinder job creation, and many erode freedom. Not all regulations are unwarranted, … More

    U.S. Makes Right Call on U.N. Internet Treaty

    Governments eager to use the recently concluded International Telecommunication Union (ITU) conference to bolster their efforts to censor and govern the Internet successfully inserted a provision to aid their cause. Although the Obama Administration is known to support most international treaties, this proved to be a bridge too far. As … More