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    Morning Bell: Having Their Cake and Eating It, Too

    Yesterday before the Joint Economic Committee, Federal Reserve Chairman Ben Bernanke made a clear case as to why federal action is needed: home mortgages and car loans had become harder to get, commercial credit was becoming scarce for many businesses and consumer spending had already declined. Leaders in both parties … More

    Morning Bell: The Wrong Direction

    There is no doubt that past government intervention in the market, particularly by Fannie Mae and Freddie Mac, is largely to blame for the current financial turmoil. And while past government intervention cannot be used to justify further government interference, we also have to ask how much unnecessary pain the … More

    Did Deregulation Cause the Wall Street Crisis?

    Anyone who tries to explain the Wall Street crisis in a single sound-bite is foolish…or worse. But House Democratic Leaders have found a culprit they can agree on: deregulation. “This is the fruit of decades of ‘leave the market alone, don’t regulate it. It will take care of itself,” Says … More

    There Is No Silver Bullet

    The current financial turmoil has changed Wall Street as we knew it forever. Seven decades worth of cumbersome, outdated, and harmful regulation will have to be rewritten in order to provide the clear and dependable rules markets need to operate. The long term financial health of the federal government also … More

    Other Terrible Stuff in Bailout Bill

    This morning we highlighted just the worst policy proposal liberals in Congress are trying to attach to the financial bailout plan. But Sen. Chris Dodd’s (D-CT) draft legislation has some other misguided provisions as well. Heritage’s David John flags those that must be avoided: Provide capital to financial institutions in … More

    Restoring Markets, Protecting Taxpayers

    So much has happened in just the past week, but our analysts are on top of the situation. Here is what Heritage has so far on the current situations in Wall Street and Washington: What Should Be Done About the Financial Markets? Stuart Butler, Alison Fraser, and James Gattuso outline … More

    Perspective

    Yes financial markets are in turmoil right now. But as Dr. Mark Perry of Carpe Diem reminds us, the last 30 years has witnessed an unprecedented gain in U.S. household net worth that is not fundamentally threatened: According to the Federal Reserve, U.S. household net worth fell by $2 trillion … More

    An Ounce of Prevention...

    The March 13 report of the President’s Working Group on Financial Markets is a good start towards preventing another credit crisis like the one that has been shaking up Wall Street for the last several months. Rather than trying to clean up the current mess or assigning blame, the report … More