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    Treasury Exposes Markets to Added Stress Flu

    Markets are weighed down by worries over the new swine flu and the ongoing stress flu; the former from Mexico, the latter from the Treasury Department. Recently, Treasury added markedly to market uncertainties by suggesting it would convert federal capital injections from preferred shares of banks to common shares. This … More

    Independent Commission Win

    Since October Heritage has been writing about the need for an Independent Financial Markets Commission to look into causes and remedies of the market crisis. Now, thanks to Senator Johnny Isakson, the idea has been approved by the U.S. Senate in a remarkable 92-4 vote. The independent voices, and independent … More

    Stop Spending Our Future!

    This cartoon from the 1934 Chicago Tribune has appeared more than once in our inbox. Hopefully, unlike 1934, we have already endured the worst of new federal government central planning in the U.S. economy. By 1934 the Depression had already lasted five years, but would still go on for another … More

    Morning Bell: "I Just Lost Another Loan to Obama!"

    The New York Times reports this morning: “He is not a mortgage broker. But for a time on Thursday, President Obama seemed to be playing one on television, urging Americans not to miss out on rock-bottom refinancing rates. … Seldom has the president sounded so much like the host of … More

    Who's Afraid of Venture Capital?

    Great question by Wall Street Journal editorial page assistant editor James Freeman today: The Obama administration wants to regulate venture capital firms to prevent systemic risks. Silicon Valley residents are scratching their heads and asking: What risks? The rest of us should ask why Washington is targeting a jewel of … More

    Criminalizing Our Way out of the Crisis

    If you’re a member of Congress, it’s tough to vote or even argue against any bill that has harsher criminal offenses or penalties. No legislator wants to give his reelection opponent the opportunity to label him as being “soft on crime.” Two bills scheduled to be considered by the Senate … More

    Banks to Feds: Drop Dead

    How much government meddling will our nation’s banks put up with before they start rejecting the federal government’s TARP funds? Looks like we’re starting to find out. Last week ProPublica reported that IberiaBank of Lafayette, Louisiana became the first bank to return TARP cash to the Treasury. From the bank’s … More

    "A Bureaucratic and Administrative Nightmare"

    7th Circuit U.S. Court of Appeals judge Richard Posner and Nobel Laureate Gary Becker weigh in on President Barack Obama’s mortgage bailout plan on their Becker-Posner blog. First up, Posner: The four measures, taken as a whole, are likely to be administratively complicated, costly, and slow, and so have very … More

    Morning Bell: Another $275 Billion Down the Drain

    The House of Representatives is set to vote on a bill today that would round out the legislative authority necessary for President Barack Obama to institute his $275 billion mortgage bailout plan. Taken together the plans three main components (enabling some select borrowers to refinance their loans through Fannie Mae … More

    More Signs Washington Has Too Much Power

    Politico reports today: It was a perfectly reasonable question, and on the surface it seemed like a perfectly reasonable answer. But when Senate Banking Committee Chairman Chris Dodd went on Bloomberg TV Friday and mused about the possibility of bank nationalization, panicked investors sent the Dow plummeting a hundred points … More