by Fred Smith
November 19, 2009 @ 5:30 pm
This morning I read with interest - and amazement - the above headline. Does our president live in the same world that I inhabit? He’s worried about America’s increasing indebtedness and is pushing for a massive expansion of health entitlements (aka wealth redistribution programs) and the cap-and-tax global warming initiatives (aka wealth redistribution programs) and a host of other other wealth-destroying regulatory programs. Yet, he’s worried about America’s growing debt?
Our political system is only now perhaps emerging from a foolish…
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by Fran Smith
March 20, 2009 @ 12:18 pm
A different take on possible effects of lawmakers’ rabble-rousing on TARP bonuses. Jeffrey Goldfarb at breakingviews.com says that driving out talented financial executives in the U.S. may be a boon for foreign-owned banks in the U.S. in getting new talent, but most especially for London and its global financial powerhouse, the City. Sarbanes-Oxley already caused financial institutions to flee New York for London. The 90 percent tax rate on TARP bonuses might provide a new impetus for savvy executives to relocate.
Still, with London house…
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by Gary Howard
March 06, 2009 @ 10:14 am
In a running theme, I again cover the topic of the U.S. government’s heavy-handed dealings with swiss bank UBS. A nod to my colleague John Berlau, whose letter in today’s Financial Times gives a nod to former ambassador Faith Whittlesey and her commentary in FT expressing concern over the Obama administration demanding the names of 52,000 Americans who do business with UBS. As I stated in previous posts on this issue, these actions by federal authorities are setting a bad precedent for the privacy of…
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by Iain Murray
December 31, 2008 @ 3:14 pm
For supporters of freedom and markets, the Year of Our Lord 2008 has been close to a disaster. As D:Ream used to sing, things can only get better, surely? Ah, if only…
This was the year that saw two Presidential candidates vying with each other to see who could make the most ridiculous statements on global warming and the financial system (it may be the less ridiculous won). It was a year when one bunch of free-spending economic know-nothings gained complete…
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by Fran Smith
October 24, 2008 @ 11:43 am
Russ Roberts this morning on CafeHayek has two posts on Alan Greenspan’s abject testimony on Capital Hill yesterday. One goes through some of the mea culpa replies to Chairman Waxman’s aggressive baiting. As Roberts leads off,
Alan Greenspan has been forced to admit the heresy of his youth. He has recanted.
Roberts’ second post portrays Greenspan as the ghost of Milton Friedman:
In one of the most shocking and eerie moments in the history of Congress, the ghost of Milton Friedman recently completed an appearance on Capitol…
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by Cord Blomquist
October 22, 2008 @ 5:08 pm
Did the free market cause the financial crisis? Was it unbridled capitalism?
The Competitive Enterprise Institute and the National Taxpayers Union don’t believe for a minute that capitalism caused the financial crisis. How can we be so confident? Because capitalism doesn’t exist in the United States, especially in the financial sector.
Nearly every industry in the U.S. finds itself making regular pilgrimages to Washington to seek special favors—subsidies for this or that, regulations that harm competitors or smaller firms, or trade deals that benefit…
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by Doug Bandow
October 15, 2008 @ 5:45 am
How do you find work as a financial wizard today?
My friend and former colleague Radley Balko posts a video that captures the new economic reality in America.
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