Oregon Senator Jeff Merkley writes in today’s Oregonian that the J.P. Morgan trading loss provides 2 billion reasons for more regulation of the banking and financial industries. On the same page, Washington Post columnist Robert J. Samuelson explains why — in “four propositions that defy conventional wisdom” –,Merkley is wrong.
$2 billion is a lot of money. Enough to get the regulator’s juices pumping. Treasury Secretary Timothy Geithner says the J.P. Morgan $2 billion trading loss is evidence of the need for more regulation of banks and the financial sector. Jonathan Macey, writing in the Wall Street Journal, and Peter J. Wallison, writing in USA [...]
Originally published at Politico — 2/22/12 – An end to the regulatory state? – by Jonathan Macey, Yale law professor and member of Hoover Institution Task Force on Property Rights, Freedom and Prosperity – Once in a while, it appears that Congress might actually pass a constructive law and the president may sign it. But [...]
Writing in Investor’s Business Daily, Vern McKinley, research fellow at the Independent Institute and author of the new book, “Financing Failure: A Century of Bailouts,” reaches the following conclusion about Secretary of Treasury Timothy Geithner’s bailout of Bear Stearns: “Ultimately, the final judgment about Secretary Geithner’s bailout strategies will be inexorably tied to the political [...]
The Daily Caller reports on Federal Reserve loans totalling $7.77 trillion made without Congress’ knowledge. So who’s running the country?
Writing in today’s Wall Street Journal, Seth Lipsky argues for having a Federal Reserve Board member who understands the constitutional authority of the Fed. In this day of “whatever-it-takes” government, Lipsky’s view is much in need.
05/19/11 by Jonathan Allen & Jake Sherman, Politico. RICHMOND, Va. — House Republican leaders have spent a lot of time lately assuring Wall Street that they understand the calamitous consequences that would result from a default on the nation’s debt… Read more…
With the economy showing signs of recovery and Congress looking to the challenges of agreeing to a budget that does not contribute further to the rapidly growing national deficit, news and commentary about last year’s financial regulation reforms have been relegated to the back pages, if not disappeared altogether. In a commentary for Politico, Yale [...]
