Regulation
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Lessons Unlearned
On Wednesday, I posted a link to F.A. Hayek’s “The Use of Knowledge in Society”. Like Leonard Read’s “I, Pencil”, Hayek’s knowledge paper explains why it is impossible for an […]
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“The Use of Knowledge in Society”
“The peculiar character of the problem of a rational economic order is determined precisely by the fact that the knowledge of the circumstances of which we must make use never […]
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“Text of Dodd-Frank Wall Street Reform and Consumer Protection Act”
“A summary of the Dodd-Frank Wall Street Reform and Consumer Protection Act, released Saturday by the House Financial Services Committee. The legislation is expected to come before Congress next week […]
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What Financial Re-Regulation?
“In two weeks, I am supposed to speak on a panel entitled “Financial Re-regulation.” My question is, what re-regulation? To me, re-regulation means you would reverse some step that you […]
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“Financial Reform Bill is a ‘Disaster’: Sen. Gregg”
“The financial regulatory bill is a “disaster,” and its proposed consumer protection agency would create a Fannie and Freddie “on steroids,” Sen. Judd Gregg, R-N.H. told CNBC on Monday. “The […]
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“Can the Government Regulate Inflation?”
“In a recent column, Nobel Prize winning economist Paul Krugman claimed that the government needs to have two important duties in finance. First, it must keep interest rates low; second, […]
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“Gambling with Other People’s Money”
“Beginning in the mid-1990s, home prices in many American cities began a decade-long climb that proved to be an irresistible opportunity for investors. Along the way, a lot of people […]
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“A Three-Point Plan to Save the Euro”
“The rescue package requested by Greece will, if endorsed, buy the eurozone six months, perhaps a year at most. By then, the Greek government will have exhausted the aid and […]
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An Economy of Liars
Free markets depend on truth telling. Prices must reflect the valuations of consumers; interest rates must be reliable guides to entrepreneurs allocating capital across time; and a firm’s accounts must […]
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“Fed Kohn Paper: Crisis Early Warning Requires Better Data”
“While, in hindsight, some of the data available to the Federal Reserve and other authorities gave notice of the financial crisis, more data and a different approach to analyzing them […]
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“Irresponsible lending prohibited by OTF”
“The new requirements form part of new guidance from the Office of Fair Trading (OFT) to counteract irresponsible lending. ‘[We] expect all consumer credit businesses to fully comply with both […]
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Obama’s Mortgage Plan Won’t Bring Relief
“Alan Greenspan, Ben Bernanke, and the rest of the crew running economic policy somehow could not see the housing bubble as it grew to more than $8tn. It really should […]