Before he became Treasury secretary, Hank Paulson firmly believed the government had no business interfering in financial markets by banning the short selling of financial stocks. But by mid-September of this year, while Lehman Brothers was on the verge of collapse, Paulson pressured the Securities and Exchange Commission to ban …
MOSCOW — The financial turmoil in Russia might not be all-embracing yet, but some of its features suggest its gloomy prospects. Big business’ lack of confidence in national economy is what primarily strikes the eye. Speaking at a Cabinet meeting last week, Prime Minister Vladimir Putin unveiled scandalous information concerning …
The most important thing to remember as Capitol Hill debates the auto bailout this week, is that the incestuous relationship between big business, big labor, and big government is not confined to the auto sector. Instead it infects everything Washington touches. CATO’s Dan Mitchell writes: Naive and/or deceptive politicians often …
Derek Scissors, a research fellow for Asia economic policy, says the world leaders meeting in Washington for the G-20 summit should view China’s stimulus package as an expensive public relations move. [youtube]http://www.youtube.com/watch?v=JSB28WHrv7U[/youtube]
The communists that dethroned Czar Nicholas II were the first to implement “central planning” but President-elect Barack Obama is doing his best to match both the czar’s and the communist’s commitment to autocratic style. Just this week alone there have been reports of an auto czar, an energy czar, and …
On Nov. 9, the communist Chinese government announced a $586 billion economic stimulus plan that party leaders hailed as a “New Deal” for the people. Here in the United States, a supposedly “conservative” administration has already enacted $333 billion in “emergency” spending bills and another $105 billion in tax rebate …
The Corner‘s Iain Murray flags a valuable new study out of the University of Chicago on Treasury Secretary Hank Paulson’s bank recapitalization plan: We calculate the costs and benefits of the largest ever U.S. Government intervention in the financial system. We estimate that the revised Paulson plan increased the value …
