A Bipartisan Solution To Endorse: Breaking Up the Big Banks

By: Monday June 4, 2012 8:55 am

I can get behind any piece of writing that includes the line “James Pethokoukis doesn’t know what he’s talking about.” Nine times out of ten, that’s the case. This bill of particulars is accurate. But let’s call this that tenth time. Pethokoukis, a columnist for the American Enterprise Institute, writes in the pages of the [...]

Glass-Steagall or Bank Size? Why Not Both, And More?

By: Monday May 14, 2012 12:19 pm

In the wake of JPMorgan Chase’s Fail Whale trade, proponents of stiffer regulation on Wall Street than what was ushered in with Dodd-Frank have offered a variety of solutions. In truth all of them could be beneficial in tandem to reduce risk and political influence from the financial system. For instance, Elizabeth Warren, who has [...]

Dallas Fed Proclaims: “Break Up the Banks”

By: Thursday March 22, 2012 8:16 am

The Dallas Federal Reserve Bank released a report yesterday calling for the end of “Too Big To Fail” and the breakup of the largest and most systemically important banks. In a letter signed by Richard Fisher, the conservative president of the bank, he endorses the research report, and he says that the Dodd-Frank law did [...]

Fed Itching To Raise Interest Rates

By: Thursday June 3, 2010 12:15 pm

Like a group of nervous schoolchildren eager to do something to please their teachers, more and more regional Federal Reserve Chairmen are anxious to raise interest rates back up, despite the mass joblessness and the greater need for a loose monetary policy rather than vague worries about inflation. Here’s Kansas City Fed Chief Thomas Hoenig: [...]

Breaking Up the Banks – The Great Debate

By: Friday April 2, 2010 9:50 am

We certainly live in interesting times, when a National Review writer proposes breaking up the big banks, and Paul Krugman disagrees. First, economist Arnold Kling, in NR: “In recent decades, the blend of politics and banking created a Washington–Wall Street financial complex in the mortgage market. . . . During this period, Wall Street firms [...]

New York Times Becomes Deficit Mania House Organ

By: Wednesday February 17, 2010 12:38 pm

I’m wondering if it’s the New York Times and not the Washington Post with the content-sharing agreement with Pete Peterson’s deficit-hyping “Fiscal Times.” Because the Grey Lady’s output over the past 24 hours has been curiously tilted toward deficit mania. First, there’s the front-page story today from Jackie Calmes, which makes the logical leap from [...]

Boxer, Feingold Come Out Against Bernanke As Stampede Begins

By: Friday January 22, 2010 9:02 am

It’s pretty incredible to watch Ben Bernanke just wither away, as a trans-partisan coalition actually works to stop a Wall Street-friendly establishment. First, Russ Feingold came out against Bernanke today: “A chief responsibility of the Chairman of the Federal Reserve is to ensure a sound financial system. Under the watch of Ben Bernanke, the Federal [...]

Even Regional Fed Presidents Talking About Restoring Glass-Steagall

By: Wednesday January 6, 2010 9:03 am

This is big news. It’s one thing for a few wayward Congressmen to talk about restoring Glass-Steagall protections, and quite another when one of the regional Federal Reserve Presidents endorses it. Thomas Hoenig of the Kansas City Fed has been better than most Fed Presidents during the crisis, even pushing for some kind of nationalization [...]

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