The left is slowly beginning to wrap their heads around the fact that it was too mush government intervention in the market, not too little, that caused the current financial crisis. In an article at Slate defending government subsidization of subprime loans, Daniel Gross writes: Let’s be honest. Fannie and …
Bill Beach, director of Heritage’s Center for Data Analysis, talked about the economy and the presidential candidates’ proposals to fix it this morning on WTTG in Washington. Beach also addressed John McCain and Barack Obama’s tax plans. [youtube]http://www.youtube.com/watch?v=CcI14dlpxMw[/youtube]
Defending $150 billion worth of unrelated tax benefits that Congress stuffed into the already $700 billion Wall Street bailout bill, Rep. Barney Frank (D-MA) told the International Herald Tribune: “If you don’t want politics in this process, you probably shouldn’t be handing it over to 535 politicians. That’s democracy.” We …
When a Nobel Prize-winning economist tells you something is too complicated to understand, pay attention. That is just what Nobel Laureate Gary Becker said about the financial crisis in Tuesday’s Wall Street Journal. The main problem with the modern financial system based on widespread use of derivatives and securitization is …
The DC Examiner has a mostly wonderful editorial pointing out that the regulators missed the warning signs of the market crisis as much as the investment banks did. The Examiner properly concludes the question is not “more” or “less” regulation, but then wrongly implies there was no regulation “at all”. …
What does the left do when media appears that accurately connects them to the current financial crisis. They censor it of course. Yesterday we detailed a brilliant Saturday Night Live skit that properly exposed a major leftist donor’s connections to the subprime mortgage crisis. We wrote: The best was …
The left really has no idea what free markets are. Witness Washington Post columnist Harold Meyerson who wrote a column last week blaming the current credit crisis on ‘unregulated capitalism’ and ‘laissez faire’ policies. According to Merriam-Webster, ‘laissez faire’ means: “a doctrine opposing governmental interference in economic affairs beyond the …
If you thought passage of last week’s $700 billion Wall Street bailout meant Congress would get out of Washington, you’re not that lucky. Determined to pin the credit crunch on free markets, Chairman Henry Waxman (D-CA) has announced a whole month’s worth of hearings in the House Oversight and Government …
George Mason University economics professor Russell Roberts writes in today’s Wall Street Journal: Beginning in 1992, Congress pushed Fannie Mae and Freddie Mac to increase their purchases of mortgages going to low and moderate income borrowers. For 1996, the Department of Housing and Urban Development (HUD) gave Fannie and Freddie …
