Revised and updated July 06, 2011. Washington’s reckless spending spree of the past several years and unwillingness to confront the mountains of debt coming soon from unreformed federal entitlement programs threaten the economic and social…
You Will Pay Higher Costs and There Will Be Fewer Jobs Higher Cost of Living: The Restoring American Financial Stability Act of 2010 by Senator Chris Dodd (D–CT) will raise costs across the economy. Americans will suffer higher fees, interest rates,…
James Gattuso discusses the Dodd financial regulation bill. …
Regulatory Redux Not Fixing…
David C. John discusses Chris Dodd's massive financial regulation bill, and how it will confine free market innovation and self-regulation in the US financial market. …
The new Congressional Budget Office (CBO) 10-year budget baseline provides a sobering picture of a federal government that has committed itself to trillions more in spending than taxpayers can afford. Once the baseline is scrubbed of several unrealistic assumptions that Congress demands CBO use, the more realistic baseline…
Paving the Road for More TARPs The Barney Frank Agenda: In an attempt to reform the financial industry, Congressman Barney Frank…
As the fall of 2009 approaches, three facts have become abundantly clear: First, President Obama's economic stimulus bill has failed to halt the steady loss of jobs or pull the economy out of recession. Second, the federal budget deficit for 2009 will be a modern record by any measure. And third, the…
Last week the Bush Administration tried to find ways to use the funds available in the Troubled Assets Relief Program (TARP) to bail out the Detroit automobile companies. That decision is just the latest of weekly, and sometimes daily, Administration reinterpretations of the TARP program's purposes. And no doubt the incoming Administration will continue this…
With the Senate's rejection of a bailout for Detroit's ailing automakers, there comes word that President Bush is actively considering using funds allocated by Congress for the Troubled Asset Relief Program (TARP) to prop up the automakers for the time being.[1] Such action would be legally wrong, economically wrong, and counterproductive…
Treasury Secretary Henry Paulson recently announced yet another change in direction of the "Troubled Asset Relief Program" (TARP), sowing more uncertainty and confusion in the very financial markets the program is supposed to stabilize. Instead of buying mortgage-backed assets as originally intended, Paulson says he is now considering three alternative initiatives: Stock purchases in non-bank…
Back in 2010, The Heritage Foundation’s Index of Economic Freedom first reported the shocking erosion of America’s...…
There were plenty of lessons to learn after the financial crisis of 2008. Unfortunately, neither Congress nor the...…
House investigators are alleging a White House double standard in its rhetoric toward executive compensation for large...…
The Small Business Lending Fund was cleverly named by its authors last Congress. Since its implementation, however, it...…
$154 billion. That is the amount of taxpayer money that will be needed to bail out Fannie Mae and Freddie Mac according...…
This past Friday the Associated Press reported: Nearly half of the 1.3 million homeowners who enrolled in the Obama...…
Carnegie Mellon University economics professor and American Enterprise Institute visiting scholar Allan Meltzer has a...…
A whopping 62 percent of Americans now say the United States is on the wrong track, yet President Barack Obama and ...…
On October 13, 2008, Treasury Secretary Henry Paulson summoned the CEOs of the nation's largest banks into a gilded...…
Bloomberg news has an article on Wall Street pay revealing that the CEOs of many large banks have taken big pay cuts in...…