All this month Congress has been holding hearings supposedly looking into the causes of the financial crisis. As Heritage fellow Brian Walsh explains, the hearings have been less about identifying causes, and more about finding villians: As in past economic crises, some criminal conduct associated with the subprime market has …
If our country is going learn anything from the financial meltdown, there’s only one way to do it. Heritage’s Dave Mason says the Bush administration should appoint an independent commission to aid Congress before it rushes to legislate. Lawmakers simply can’t be trusted. [youtube]http://www.youtube.com/watch?v=n0PQ_9lpBwU[/youtube]
Under normal circumstances, the very concept of direct government purchase of bank stock of any type would be unthinkable and unacceptable. But it seems that to large extent the hand of U.S. policymakers was forced by overseas governments that provided similar capital programs to their banks. If the U.S. government …
Listening to politicians on the left speak about the current financial turmoil, one gets the impression that when President Bush took office in 2001 there was a perfect financial regulatory system in place. Only since then, they claim, has it been systemically destroyed by the Bush administration. Speaker Nancy Pelosi …
Desperate to defend the incoming corporate-socialist order, the Center for American Progress again defended Fannie Mae and Freddie Mac after Wednesday’s presidential debate. CAP’s Wonkroom notes that John McCain accused Fannie and Freddie of causing the current financial crisis and then offers the following refutation: As McClatchy reported this week …
Fantastic clear explanation of how federal government intervention with the market directly caused today’s financial turmoil by Peter Schiff in today’s Washington Post: Just as prices in a free market are set by supply and demand, financial and real estate markets are governed by the opposing tension between greed and …
Liberals are so ecstatic over the recent financial crisis that they have lost all contact with reality. Witness Harold Meyerson in The Washington Post: In 1949, a number of famous writers, among them Arthur Koestler, André Gide, Richard Wright, Stephen Spender and Ignazio Silone, wrote essays explaining why they were …
Senate Banking Committee Chairman Chris Dodd has announced he wants to pass legislation making major changes in lending laws during a lame duck session next month. But the lead witness at Dodd’s Oct. 16 hearing on the financial crisis, former SEC Chairman Arthur Levitt, recently said “not so fast.” At …
