Events of the past two years have exposed a logical flaw in our historic approach to regulating financial institutions, especially banks. To its credit, the Obama administration recognized this flaw in its proposals for regulatory changes. Whether the administration’s proposal…
Overlapping financial regulators are out of date
The Obama administration has just sent Congress its proposals for improved regulation of financial institutions. In future columns we can examine just how proposals from the administration and Congress might work out. First, however, let’s take a moment to reflect…
Those on the left and right need to keep it real
Few things in life are as treacherous as unrealistic expectations. You are sure to be disappointed if you place your hopes on something that has an extremely low probability of coming true. But highly unrealistic economic expectations seem rampant right…
Mayo wants its way, and for you to pay
I admit I am not impartial. The fact that for 23 years I have lived three blocks from a rail line with up to 70 trains a day hauling things like chlorine gas, anhydrous ammonia, molten sulfur, sulfuric acid and…