Volcker Wants Smaller Banks

Paul Volcker, former head of the Federal Reserve (1979-1987), currently serves as chairman of the Obama Administration’s newly formed Economic Recovery Advisory Board. Volcker is widely credited with ending the stagflation crisis of the 1970s through aggressive government action and was allegedly fired by President Ronald Reagan when he refused to go along further with […]

Obama Fires Back

Speaking to House members of the Republican Party in Baltimore, Maryland this Friday, President Barack Obama defended the measures which his administration has enacted over the past year as cameras rolled. The president took questions, corrected misstatements and blamed Republicans for distorting the true intentions and effects of his policies. So successful was his performance […]

Obama Champions Small Business

One of the stated goals of President Obama’s Financial Crisis Responsibility Fee is to reduce the size of financial institutions. Ideally, his administration would like to do some modern trust busting to make sure that banks won’t ever be “too big to fail” again. Who decides when a bank is “too big”? The same government […]

Bailing Out Bernanke

In the coming days, the United States Senate will vote on whether or not Ben Bernanke will go on to serve as Chairman of the Federal Reserve for another term. Some legislators are skeptical. Senator Jim Bunning of Kentucky said Tuesday on CNBC that Bernanke’s own staff recommended against bailing out insurer AIG in September […]

Obama the Jeffersonian

The only constant about President Obama’s foreign policy so far seems to be its reception. Conservatives dread the end of American ascendency and wonder out loud whether Obama is projecting weakness while the Europeans are supposedly upset about the current administration not paying them enough attention. The truth is that a series of early hiccups […]

The Government of Whim

“We want our money back,” cried President Obama yesterday, “and we’re going to get it!” Announcing a Financial Crisis Responsibility Fee — a tax perfectly named for an era in which banks are held responsible for a recession that was beyond their control — the president promised American taxpayers that they would get “every single […]

The Palin Brief

She overwhelmed the country as vice presidential candidate in 2008. The Left found plenty of reason to resent her and while initially hailed by Republicans as the hockey-mom voice of folksy America, conservatives soon found that underneath the no-nonsense layer of toughness that Palin exhaled, the then-governor of Alaska really had no intellectual depth at […]

Mitchell: Peace in Two Years

Where last month the European Council decreed that there can only be a two-state solution to the Israeli-Palestinian conflict with Jerusalem as capital of both nations, American envoy to the Middle East George Mitchell is more nuanced, stating that Israel “annexed” East Jerusalem so that “for the Israelis, what they’re building in, is in part […]

Deregulate the Banks!

Regulatory failure instead of a lax monetary policy bears the responsibility for the American housing bubble that produced the financial crisis of 2008, said Federal Reserve chairman Ben Bernanke this Sunday. Bernanke rejected accusations that the Fed contributed to the fostering of the recession and argued that the interest rates set by the bank between […]