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    Health Care Co-ops: What's Inside the Box?

    Last month, Senator Kent Conrad (D-ND) suggested that maybe some form of “consumer cooperative” might be a politically acceptable alternative to the “competing public plan” idea. Since then, growing opposition to the “public plan” has fueled growing interest among Sen. Conrad’s colleagues in his “co-op” idea. However, as with the … More

    Smoking Gun of the Housing Crisis

    At yesterday’s Bloggers Briefing at Heritage, Rep. Darrell Issa (R-CA), ranking member on the House Oversight and Government Reform Committee, touted a 26-page report that holds the government accountable for the housing crisis through its unsustainable drive to increase homeownership. The report sheds light on the unnecessary interference of government … More

    Barney Frank Calls For Bigger Losses at Fannie and Freddie

    Barney Frank, Chairman of the House Financial Services Committee has suggested that Fannie Mae and Freddie Mac, the now bankrupt housing finance giants, should relax their lending standards. This suggestion is farcical. One’s immediate reaction after the laughter has subsided might well be, “will we never learn?” For many years, … More

    We Didn't Know Krugman's Nobel was for Fiction

    New York Times columnist Paul Krugman has truly outdone himself this time. He has managed to identify a single piece of legislation passed by President Ronald Reagan in 1982 that single handily brought down the entire world economy a mere 25 years plus later. AEI’s Peter Wallison sets the record … More

    The IEA on the Financial Crash

    The Institute for Economic Affairs, the prestigious British think-tank, has released a comprehensive, two hundred page long, study of the causes of the financial crash. Its conclusion is that “Government failure had a leading role in creating the conditions that led to the crash.” As the IEA sums it up, … More

    Who's Behind the Financial Meltdown?

    The Center for Public Integrity has a new project up called The Subprime 25 that identifies the “top 25 lenders who were responsible for nearly $1 trillion of subprime loans made from 2005 through 2007. Together, the companies account for about 72 percent of high-priced loans reported to the government … More

    Morning Bell: Bonus Outrage You Can Believe In

    Speaking to a crowd of 1,500 supporters in Costa Mesa, California, about the bonuses given to employees of 80% taxpayer owned AIG, President Barack Obama said: “I know a lot of you are outraged about this. I’m outraged, too.” We’ll leave for others to decide the level of Obama’s outrage, especially considering … More

    Morning Bell: A Legacy That Matters

    The Bush administration is hopping mad at the New York Times for a story the Gray Lady published Sunday, “White House Philosophy Stoked Mortgage Bonfire.” The White House will have to defend itself on this one, but we are concerned that the Times, in its partisan desire to tarnish President … More

    Fannie and Freddie Finally in Focus

    At the height of the campaign season, House Oversight Committee chair Henry Waxman (D-CA) held a number of hearings on the burgeoning financial meltdown including investigations into the bankruptcy of Lehman Brothers, the bailout of AIG, The Breakdown of Credit Rating Agencies, and The Role of Federal Regulators. The purpose … More

    With the Left in Power, Only Morons Pay Their Mortgages

    Reporting on Fannie Mae’s and Freddie Mac’s new program to reduce monthly mortgage payments for those people who have missed at least 90 days worth of payments, The San Francisco Chronicle’s Kathleen Pender reports: Peter Schiff, president of Euro Pacific Capital, predicts that many homeowners who have little or no … More