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    Critics Resort to Canned Rhetoric in Goldman Sachs Attack

    Goldman Sachs and other big banks have been accused of costing American consumers more than $5 billion over the past three years through its dealings in the obscure business of warehousing aluminum. These dealings were the subject of a Senate hearing on July 23. The rhetoric level was high, exemplified … More

    A Band-Aid for Derivatives Trading

    American regulators yesterday agreed, both internally and with the European Union, on how to deal with the trading of financial derivatives beyond U.S. shores. The EU and U.S. essentially decided to treat each other’s rules as “close enough.” While the decision has some value, it continues to miss the point. … 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

    Cloakroom: Going for Broke on Amnesty

    Senate Cloakroom: June 24–28 Analysis: Senate Majority Leader Harry Reid (D-NV) is looking to make good on his promise to pass an amnesty bill through the Senate before the chamber adjourns for its week-long Fourth of July recess. On Monday at 5:30 p.m., the chamber is expected to vote on … More

    Obamacare Continues to Restrict Hiring

    The Federal Reserve Beige Book, released on March 6, cited Obamacare as a factor in slowing hiring and employment growth. The Beige Book is a report published eight times a year that details the economic activity in the 12 different Federal Reserve regions. As this most recent report explains, “Employers … More

    Fiscal Cliff: Decoupling Conservatives from Their Core Principles

    There are many ways to surrender—and some congressional Republicans seem bent on exploring them all. In the debate over the fiscal cliff, the President’s position is simple: The Republicans must capitulate on income tax rate hikes, and all other serious issues are not up for discussion. Never mind that Obama … More

    QE4: Another Big Step Down a Dangerous Road

    The Federal Reserve Board today announced the introduction of yet another hyper-aggressive monetary policy, dubbed “QE4” by some for the fourth round of quantitative easing. Three times a dud, fourth time a charm? Not likely. The Fed’s concerns for the economy are well-founded. The economy continues to struggle badly under … More

    Chinese Money Mysteries Solved

    The Wall Street Journal this week observed that money is leaving China. It has been doing so off and on since the economic crisis began, and during the last 18 months the amount of gross outflow may have been as much as $300 billion. This, however, sounds more important than … More

    Bernanke’s Message to Congress: Your Turn for Good Economic Policy

    The stock market rose Wednesday in anticipation of Federal Reserve Board Chairman Ben Bernanke’s remarks Thursday. Traders sold Treasury bonds and bought stocks, hoping Bernanke would announce a new monetary stimulus. They were sorely disappointed. Speaking to the Joint Economic Committee of Congress, Bernanke emphasized that the Fed has America’s … More

    PODCAST: John Taylor On Returning Economy to Prosperity

    In this special Heritage podcast, listen to distinguished Stanford economist John Taylor discuss his new book, First Principles: Five Keys to Restoring America’s Prosperity. PODCAST: John Taylor On Returning Economy to Prosperity What should guide policy proposals going forward? Are we in full economic recovery mode? Is inflation a threat … More