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    Michigan Union Threatens Teachers’ Credit Scores

    Most people expect unions to protect workers, not attack their credit ratings. The Michigan Education Association (MEA) does not share these expectations. The union has threatened to damage the credit ratings of teachers who opt out of union dues. Michigan recently became a right-to-work state, meaning workers in Michigan no … More

    Another Subprime Idea from Obama

    The Obama Administration is reportedly pushing banks to increase mortgage lending to people with relatively weak credit in hopes of boosting home sales. But the very same policy under Presidents Clinton and Bush contributed mightily to the housing bubble that ultimately devastated millions of families in mortgage default. Credit is … More

    Tales of the Red Tape #39: Swapping Wealth Creation for Regulatory Claptrap

    Not many people know the meaning of “swap” (as in a financial hedge, not flea market). Only the most sophisticated investors actually understand the complexities of buffering risk by exchanging cash flows. Under Dodd–Frank, however, federal regulators have been tasked with assuming control of this market, in which hundreds of … More

    Morning Bell: Don't Raise Debt Ceiling Without Balancing the Budget

    All across America, families are balancing their budgets and even paying off debt. Since the financial panic of 2008, personal debt has fallen as Americans tighten their belts and pay back loans. Some, unfortunately, had to declare bankruptcy because their debts got too big. Washington cannot declare bankruptcy; it must … More

    Wells Fargo Mortgage Suit: Using Existing Powers to Confront Housing Problems

    Last week, Wells Fargo, the nation’s largest mortgage lender, was sued by the U.S. Attorney in Manhattan for allegedly defrauding the Federal Housing Administration (FHA). This is just the latest proof that additional regulation of major banks’ mortgage lending is not needed. As a series of recently filed lawsuits shows, … More

    Private Financial Info at Risk If Ecuador's Government Takes Over Credit Rating Agencies

    Earlier this month, Ecuador’s National Assembly passed legislation that would nationalize the country’s private credit reporting industry. President Rafael Correa has to decide by November 4 whether or not to sign it. The legislation would permit only the government’s central public data agency to provide credit reports and scores. Private … More

    Morning Bell: It's the Spending

    On Friday evening, Standard & Poor’s (S&P) downgraded the U.S. credit rating from AAA to AA+. As we and other conservatives warned, the spending reductions in the deal negotiated by President Obama to raise the debt ceiling were inadequate, and S&P reacted as we predicted but sooner. Neither Moody’s nor … More

    Morning Bell: Liberals Force Choice Between Economic and National Security

    Put the security of the nation at risk or raise taxes. This is the sour “deal” liberal lawmakers are offering in exchange for insufficient spending cuts, according to reports of this weekend’s debt negotiations in Washington. The framework that Republicans and Democrats are close to approving would raise the debt … More

    Top 10 Reads: July 21, 2011

    Catching you up on clips, commentary and news of the day. Sign up for the daily email update from Scribe. Reining in the CFPB – Diane Katz The End of the Growth Consensus – John B. Taylor Obamacare No Prescription for Hiring – James Sherk The NAT GAS Subsidy – David … More

    Morning Bell: Framing The Debt Limit Debate

    In May, Congress will begin debate on our nation’s debt limit. The debt limit is an alarm bell built into our nation’s laws, which forces members of Congress to confront out-of-control spending when our debt reaches a certain level. Five times in the last four years, we have ignored this … More