John Kay has a great column in the Financial Times today titled: “More Regulation Will Not Prevent Next Crisis.” Kay concludes: Banking supervision should then be limited to the weeding out of unfit persons. Capital requirements, liquidity provisions and risk assessments should be matters for the business judgment of the …
The Heritage Foundation’s Chairman of the Center for Legal and Judicial Studies Ed Meese and Senior Research Fellow in Regulatory Policy James Gattuso issued the following joint statement on the DoJ XM Sirius merger decision: Yesterday’s decision by the Department of Justice not to oppose the merger of Sirius and …
Sen. Hillary Clinton yesterday threw her weight behind a plan by Rep. Barney Frank (D-Mass.) and Sen. Chris Dodd (D-Conn.) to authorize the Federal Housing Administration (FHA) spend $20 billion in taxpayer money to guarantee up to $400 billion in questionable mortgages. Considering Sen. Barack Obama is already a co-sponsor …
The recent failures of Bear Stearns and the Carlyle Group, coupled with turmoil in the housing markets and overall pessimism about the economy, has Congress rushing to microphones to promise a legislative quick fix. Meanwhile, President Bush and the Federal Reserve are being second guessed by liberal economists for not …
The Washington Post solicited plans from each of the remaining presidential campaigns on what each candidate will do, if elected, “to solve the current crisis.” Gene Sperling wrote for Hillary Clinton, Dougla Holtz-Eakin wrote for John McCain, and Austan ‘I did not make reassurances to that Canadian” Goolsbee wrote for …
The USA Today has a front page story promoting plans by Democratic presidential contenders Hillary Clinton and Barack Obama to end “a tax break they say encourages employers to ship American jobs abroad.” USA Today reports: “The Democrats, saying the United States has overlooked the costs to working Americans in …
The campaign to turn the current economic turmoil into justifications for new invasive federal government intervention in the marketplace is in full swing. The Hill reports, “After Bear Stearns bailout, Dems renew push to help homeowners,” and E.J. Dionne comments: “Never do I want to hear again from my conservative …
