The Credit Crisis: Free-Market Responses
Tibor R. Machan - June 25, 2009
In his column in The New York Times on June 25, 2009, Judge Richard Posner wrote that "The most promising reform would be to give the Federal Reserve, ... (read more)
Richard A. Posner - June 25, 2009
THE 88-page report issued by the Treasury Department last week proposes far-reaching changes in financial regulation. Unfortunately, the report is premature, ... (read more)
Matthew Glans - June 11, 2009
Florida has taken a sharp turn in the wrong direction with the recent bailout and expansion of the state’s unemployment insurance program. Using $418 ... (read more)
Matthew Glans - June 09, 2009
Insurers have the unenviable responsibility of crafting rate and premium structures that allow both profitability for shareholders and fairness to consumers. ... (read more)
Matthew Glans - May 14, 2009
The McCarran-Ferguson Act of 1945 ushered in the current era of state regulation of the insurance industry. The act codified a Supreme Court ruling in which ... (read more)
Matthew Glans - April 20, 2009
Your April 14 editorial, “Better plan for student loans,” correctly identifies the current subsidies to private student loan providers as a ... (read more)
Matt A. Mayer, David C. John and James Jay Carafano, Ph.D. - April 08, 2009
Along with the winds, rain, and storm surges of Hurricane Katrina came a cacophony of voices urging Congress to adopt a catastrophic hurricane fund (CAT ... (read more)
Matthew Glans - April 07, 2009
In an effort to address the concerns of coastal residents and respond to political pressure to subsidize the risk posed by hurricanes, the national government ... (read more)
Matthew Glans - March 26, 2009
Columnist Myriam Marquez is correct -- just not in the way she intended -- about greed being the X-factor that is poisoning our economy (Stop blaming the ... (read more)
Joanne Morrison - March 01, 2009
For months there has been extensive preparation, but yet no derivatives clearinghouse has begun clearing credit default swaps. And while there is widespread ... (read more)
Jake DeSantis - March 25, 2009
The following is a letter sent on Tuesday by Jake DeSantis, an executive vice president of the American International Group’s financial products unit, ... (read more)
John Skorburg - March 10, 2009
George W. Bush, in his final Economic Report of the President (January 2009), estimates a federal tax burden of 17.9 percent of GDP for both fiscal year ... (read more)
Sam Eddins - March 09, 2009
A new angle for understanding the global credit crisis of 2008-2009 is presented. Based on control theory principles and the axiom that investors seek the ... (read more)
Matthew Glans - March 13, 2009
Last year, the Federal Deposit Insurance Corporation seized 25 banks, the most since 1993, at a cost of roughly $7 billion from its Deposit Insurance Fund, ... (read more)
Matthew Glans - February 26, 2009
David Carpenter’s comment on the security of FDIC-insured online banks places a great deal of faith in an institution that is under a great deal of ... (read more)
Matthew Glans - March 13, 2009
I write in response to "Pell Grant hike may ease student burden," (Metro, Sunday). The methods being used to prop up the student-loan industry ... (read more)
Matthew Glans - March 13, 2009
Today it is more difficult to get a loan than at any time in recent memory. Financial institutions, including major lenders, have become increasingly risk-averse, ... (read more)
Craig Pirrong - March 09, 2009
Credit Default Swaps (CDSs) are casting an enormous shadow over the world’s crisisplagued financial markets — as in $50 trillion-plus enormous ... (read more)
Phil Gramm - February 20, 2009
The debate about the cause of the current crisis in our financial markets is important because the reforms implemented by Congress will be profoundly affected ... (read more)
Jim Johnston - February 18, 2009
The U.S. economy is in a mess. The Dow Jones Industrial Average is down 40 percent from its peak in mid-2008. Unemployment in January 2009 was 7.6 percent, ... (read more)
Matthew Glans - February 11, 2009
Providing insurance coverage for the uninsured has become a cause celebre during the recent crisis, with hundreds of thousands of Americans losing their ... (read more)
Gerald W. Scully - February 10, 2009
Among these policies, less stringent mortgage lending terms generated millions of subprime mortgages with a face value of several trillion dollars. Cheap ... (read more)
January 13, 2009
This memorandum explains the importance of the “nondelegation” principle to our constitutional system and concludes that EESA unconstitutionally ... (read more)
Matthew Glans - January 23, 2009
The subprime crisis has spawned numerous calls for tightening the credit market and banking regulations, in a market that is already highly regulated. As ... (read more)
Matthew Glans - January 16, 2009
As in many other states, South Carolina's unemployment fund is nearing insolvency due to the growing number of unemployed. The unemployment insurance program ... (read more)
Robert Higgs - January 06, 2009
Remember the credit crunch? Of course, you do. We’d never seen anything like it, or so the highest financial
authorities and their lapdogs in the ... (read more)
Stephen Moore - January 09, 2009
Some years ago when I worked at the libertarian Cato Institute, we used to label any new hire who had not yet read "Atlas Shrugged" a "virgin." ... (read more)
Daron Acemoglu - January 06, 2009
We do not yet know whether the global financial and economic crisis of 2008 will go down in history as a momentous or even uniquely catastrophic event. ... (read more)
Gregory Knox, President, Knox Machinery Company - January 07, 2009
General Motors recent sent a letter to all its employees and suppliers containing the following plea:
Dear Employees & Suppliers,
Congress and the ... (read more)
Dan Miller - December 23, 2008
Word comes today that the queue for bailout money is lengthening, with commercial real estate developers the latest sector rattling its cup for taxpayers’ ... (read more)
Chris Edwards - December 19, 2008
The U.S. economy is in recession, and federal policymakers want to help by applying some old-fashioned Keynesian medicine. They are considering a “stimulus” ... (read more)
Sam Kazman and John Berlau - December 19, 2008
Sam Kazman, General Counsel of the Competitive Enterprise Institute, issued the following statement on the White House bailout plan for car manufacturers: ... (read more)
John Skorburg - December 01, 2008
This policy booklet is based upon an academic class entitled Introduction to Urban Real Estate (Econ/Fin 371) offered by the University of Illinois at Chicago ... (read more)
Thomas Hazlett - December 01, 2008
With Detroit's auto-makers flat on their financial backs, GM, Ford and Chrysler are begging for at least $25bn in public subsidies. They hold 250,000 auto ... (read more)
Matthew Glans - November 25, 2008
First offered by JP Morgan in 1997, credit default swaps (CDS) are the most widely used type of credit derivative in the market and an influential force ... (read more)
Christopher Wood - November 24, 2008
With an estimated $4 trillion in housing wealth and $9 trillion in stock-market wealth destroyed so far in the United States, there is little doubt that ... (read more)
Matthew Glans - November 16, 2008
The battle between proponents of the free market and those of socialism is the key economic battle of the next decade. It's been coming to a head in recent ... (read more)
President George W. Bush - November 15, 2008
President Bush Discusses Financial Markets and World Economy
Federal Hall National Memorial
New York, New York
Thank you very much. Please be seated. ... (read more)
Gerald P. O'Driscoll Jr. - November 17, 2008
On Nov. 14, 2008, the Dow Jones Industrial Average closed at 8497.31. On Nov. 13, 1998, the adjusted (for dividends and split) close was 8919.59. There ... (read more)
Jim Johnston - November 14, 2008
It is becoming obvious that the bailout, or “rescue” as the government wants to call it, will not unfreeze the credit market. Anna Schwartz ... (read more)
Jim Johnston - November 14, 2008
On October 6, 2008 the Federal Reserve announced that it would begin to pay interest starting on October 9, 2008 on required and excess reserves that individual ... (read more)
Robert Genetski - November 12, 2008
The Contribution of Monetary & Fiscal Policies to the Current Financial Crisis
Government: If you think the problems we create are bad, just ... (read more)
Jim Johnston - November 12, 2008
1. Bail out the investment banks, commercial banks, insurance companies, Freddie Mac, Fannie Mae, General Motors, Chrysler, Ford Motor Company, with $700 ... (read more)
Matthew Glans - November 04, 2008
While U.S. banks have not yet reached a full-blown panic mode, there is plenty to be worried about with respect to the FDIC.
Florida is not alone with ... (read more)
Daniel J. Mitchell and David M. Abromowitz - October 17, 2008
Today's question: How do we avoid another disastrous housing bubble? Increased regulation, or trust the market to price risk better next time? Previously, ... (read more)
M. Jay Wells - October 26, 2008
Obama's economic narrative of the mortgage crisis ignores the facts. He has put free-market capitalism at the root of the current mortgage industry debacle, ... (read more)
Daniel J. Mitchell - October 20, 2008
The financial crisis exists mostly because of government mistakes, particularly the Federal Reserve’s easy-money policy, the corrupt system of subsidies ... (read more)
Dan Mitchell - October 17, 2008
A few months ago, "moral hazard" was the favorite phrase of politicians and policy wonks.
Just six months ago Federal Reserve Chairman Ben Bernanke ... (read more)
David M. Abromowitz and Daniel J. Mitchell - October 16, 2008
What's the right role and structure for Fannie Mae and Freddie Mac? How about the Federal Housing Administration? Previously, Abromowitz and Mitchell discussed ... (read more)
Joseph L. Bast - October 15, 2008
The front page of today's Wall Street Journal carries a story titled "At Moment of Truth, U.S. Forced Big Bankers to Blink." In the quarter-century ... (read more)
