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  • Lehman Brothers

    No Punishment for Bankruptcy?

    As Congress continues to deal with the “too big to fail” issue, it would do well to recognize that bankruptcy does not automatically equate with criminal behavior. Sunday’s New York Times ran a story detailing how Wall Street regulators have essentially “thrown in the towel” (at least for now) on … More

    Derivatives Bill: It’s Less Bad, but Still Bad

    Two House committees this week approved derivatives legislation that composes a significant part of the Obama Administration’s Financial Services reform plan. Remarkably, for a plan crafted significantly by uber-liberal Barney Frank (Chairman of the House Financial Services Committee), the bill is notably less bad than the Administration’s original proposal, but … More

    Unfortunate, but Necessary

    Heritage scholars JD Foster and David John react to this weekend’s Wall Street turmoil: While unfortunate for both Lehman and Merrill Lynch, what is most important about these transactions is that markets are in one important sense returning to a normal order even in the face of uncertainty and turmoil: … More