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    Haste Makes Waste

    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 … More

    Fannie and Freddie Caused This Crisis and They Must Be Terminated

    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 … More

    How Would McCain and Obama Address the Financial Crisis?

    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]

    Let's Get Congress Out of the Housing Market

    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 … More

    Removing Uncertainty from the System

    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 … More

    Regulators No More Prescient Than Market

    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”. … More

    The Left Fights Back in Typical Lefty Fashion

       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 … More

    "They Had a Blank-Check from the Federal Government"

    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 … More

    The Left's Crony Capitalism Hits 'Saturday Night Live'

    It’s not often we get to wholeheartedly endorse a Saturday Night Live skit, but from beginning to end this spoof of a post Wall Street bailout conference has at all: *****NBC HAS REMOVED THIS VIDEO FROM THEIR WEBSITE. NO EXPLANATION HAS BEEN GIVEN.***** Not only does SNL make mention the … More

    Morning Bell: Who Will Defend Free Markets?

    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 … More