Now that the Senate has passed its “Foreclosure Enhancement Act,” attention turns to the House, which will hold hearings on its own response to the housing “crisis.” As the Christian Science Monitor reports, “at the heart of the emerging consensus is a bigger role for the Federal Housing Administration in …
With President Bush’s letter to Speaker Nancy Pelosi Wednesday and John McCain’s speech in Brooklyn yesterday, now all three presidential candidates and the White House are supporting plans that would expose taxpayers to hundreds of billions of dollars in housing market risk. All three plans would set extremely bad precedents …
The report from Gen. David Petraeus and Ambassador Ryan Crocker to the Senate today could be a clarifying moment in the debate over Iraq if the right questions are asked. Unfortunately, it appears presidential politics will motivate the Senate’s anti-war candidates to ask only backwards looking questions that will not …
According to the E.J. Dionnes of elite media groupthink, the current economic troubles are due solely to unfettered Wall Street greed and the federal government’s only sin was not enough command and control of the economy. Former National Economic Council director Lawrence Lindsey sets the record straight: Contrary to the …
Reporting on the Senate’s new housing bailout bill, the New York Times claims “Senate Republicans, in particular, had felt compelled to move housing legislation quickly after the Federal Reserve’s intervention to avert the collapse of Bear Stearns.” Apparently these Republicans are determined to prove that limited government intervention in the …
Today the Senate Environment and Public Works Committee will hold an oversight hearing on the Interior Department’s delay in deciding whether to list the polar bear under the Endangered Species Act. Since the polar bear is an immensely popular megafauna, environmentalists hope that an endangered species listing for the bear …
The latest reports out of Basra indicate that life appears to be returning to normal even as Iraq’s central government indicates that military operations around the city would continue. The Iraqi army now claims its troops are in control of much of Basra even as security forces are going house-to-house …
