By Daniel J. Mitchell
I sometimes wonder whether journalists have the slightest idea of how capitalism works. In recent weeks, we’ve seen breathless reporting on the $2 billion loss at JP Morgan Chase, and now there’s a big kerfuffle about the falling value of Facebook stock. In response to these supposed scandals, there are all sorts of articles being [...]
In the Lake Wobegon Fantasy World, All Investments Make Money is a post from Cato @ Liberty – Cato Institute Blog
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By Daniel Ikenson
What is the proper role of government in a free society? That is not an unreasonable question to debate in the public square – and to revisit with great frequency. …
PPI Considers Ex-Im Debate ‘Senseless’ is a post from Cato @ Liberty – Cato Institute Blog
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By Alan Reynolds
The politically convenient media fascination with incomes of the top 1 percent has degenerated into a new obsession with the top one-tenth of one percent – the top 0.1 percent. As before, …
Why Top Incomes Rose: Elasticity Not Corporate Executive Pay is a post from Cato @ Liberty – Cato Institute Blog
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By Daniel J. Mitchell
I was at the United Nations yesterday for something called “The High Level Thematic Debate on the State of the World Economy.”
Most speakers, including the secretary general of the United …
Daniel in the Looter’s Den: My Adventures at the UN is a post from Cato @ Liberty – Cato Institute Blog
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By Mark A. Calabria
The recent losses at JP Morgan have renewed calls to break up the banks and/or increase regulation of the banks. I’ve written elsewhere why I believe these losses do not justify more regulation, particularly of the Volcker rule variety. While I have some sympathy with the break them up view, and a number of people [...]
Limit Access to Deposit Insurance Fund is a post from Cato @ Liberty – Cato Institute Blog
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By David Boaz
Yesterday I asked: If JPMorgan Chase’s loss of $2 billion shows the need for more bank regulation, what should the federal government’s $1.3 trillion deficit tell us? And Michael Cannon pointed out that in the private sector, people who make big mistakes tend to lose their jobs, unlike the public sector. Today another theme is [...]
Too Big to Manage is a post from Cato @ Liberty – Cato Institute Blog
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By Gerald P. O’Driscoll
Last week it was revealed that derivatives trades gone bad may cost J.P. Morgan Chase bank over $2 billion. The losses apparently are still accumulating at around $150 million per day. A senior manager has already lost her job and perhaps more heads will roll. Why do banks keep racking up such losses? The bank [...]
What Would J.P. Morgan Say? is a post from Cato @ Liberty – Cato Institute Blog
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By Marian L. Tupy
When, late last month, Great Britain slipped back into recession, New York Times‘ Paul Krugman saw it as a vindication of his neo-Keynesian policies. According to Krugman, Britain failed to return to growth, because David Cameron’s government stepped on the fiscal break instead of infusing the British economy with more borrowed funds. My colleagues Juan Carlos Hidalgo from Cato and Veronique [...]
Krugman Is Wrong about Austerity in Britain – Say the Brits is a post from Cato @ Liberty – Cato Institute Blog
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By David Boaz
Some politicians say that banks need more regulation because JPMorgan Chase lost $2 billion, about 2 percent of its annual revenue. Meanwhile, the federal government will have a deficit of about $1.3 trillion this year, more than half its annual revenue (and about a third of its annual spending). Is there some sort of regulation [...]
Adult Supervision is a post from Cato @ Liberty – Cato Institute Blog
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By Mark A. Calabria
Back in March the Senate Banking Committee voted out President Obama’s latest nominations to the Board of Governors of the Federal Reserve System, Jeremy Stein and Jerome Powell. Since then these nominations have remained in limbo because Senator Vitter has objected to moving them by unanimous consent and it appears Majority Leader Harry Reid does [...]
Wall Street Demands Its Fed Nominees is a post from Cato @ Liberty – Cato Institute Blog
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