Fantastic clear explanation of how federal government intervention with the market directly caused today’s financial turmoil by Peter Schiff in today’s Washington Post: Just as prices in a free market are set by supply and demand, financial and real estate markets are governed by the opposing tension between greed and …
Liberals are so ecstatic over the recent financial crisis that they have lost all contact with reality. Witness Harold Meyerson in The Washington Post: In 1949, a number of famous writers, among them Arthur Koestler, André Gide, Richard Wright, Stephen Spender and Ignazio Silone, wrote essays explaining why they were …
Senate Banking Committee Chairman Chris Dodd has announced he wants to pass legislation making major changes in lending laws during a lame duck session next month. But the lead witness at Dodd’s Oct. 16 hearing on the financial crisis, former SEC Chairman Arthur Levitt, recently said “not so fast.” At …
The left is beginning to realize that its credibility on economic matters has been seriously compromised by its 40-year relationship with the government mortgage financing duopoly Freddie Mac and Fannie Mae. Witness Rep. Maxine Waters (D-CA) lying on HBO’s “Real Time” about how much money she accepted from the two …
The left is slowly beginning to wrap their heads around the fact that it was too mush government intervention in the market, not too little, that caused the current financial crisis. In an article at Slate defending government subsidization of subprime loans, Daniel Gross writes: Let’s be honest. Fannie and …
Bill Beach, director of Heritage’s Center for Data Analysis, talked about the economy and the presidential candidates’ proposals to fix it this morning on WTTG in Washington. Beach also addressed John McCain and Barack Obama’s tax plans. [youtube]http://www.youtube.com/watch?v=CcI14dlpxMw[/youtube]
For the next few days, weeks and probably years, we’re going to hear a lot about what caused the financial crisis and led to a $700 bailout. And we’ve already heard presidential nominees, Members of Congress and political analysts blame free markets and deregulatory policies over the past 8 years. …
Defending $150 billion worth of unrelated tax benefits that Congress stuffed into the already $700 billion Wall Street bailout bill, Rep. Barney Frank (D-MA) told the International Herald Tribune: “If you don’t want politics in this process, you probably shouldn’t be handing it over to 535 politicians. That’s democracy.” We …
When a Nobel Prize-winning economist tells you something is too complicated to understand, pay attention. That is just what Nobel Laureate Gary Becker said about the financial crisis in Tuesday’s Wall Street Journal. The main problem with the modern financial system based on widespread use of derivatives and securitization is …
The DC Examiner has a mostly wonderful editorial pointing out that the regulators missed the warning signs of the market crisis as much as the investment banks did. The Examiner properly concludes the question is not “more” or “less” regulation, but then wrongly implies there was no regulation “at all”. …
