This cartoon is not new, but it succinctly captures what happened with that part of the TARP bailout. The only thing missing is some way of showing the government officials and political insiders who received undeserved wealth while the Fannie-Freddie scam was operating.

In the “Five Things About Me” section of my blog, I included this blurb: A left-wing newspaper in the U.K. wrote that I’m “a high priest of light tax, small state libertarianism.” I assume they meant it as an insult, but it’s the nicest thing anyone’s ever said about me. I now have something new […]

Considering they could have sat on their hands and relied on unhappy voters to give them big gains in November, I’m not too unhappy about the House GOP’s “Pledge to America.” Yes, it’s mostly filled with inoffensive motherhood-and-apple-pie language, but at least there’s some rhetoric about reining in excessive government. After eight years of fiscal […]

George Melloan’s column in the Wall Street Journal discusses the new Basel capital standards and correctly observes that 22 years of global banking regulations have not generated good results. This is not because requiring reserves is a bad thing, but rather because such policies do nothing to fix the real problem. In the case of […]

The Free Market Mojo site asked me a number of interesting questions about public policy. I’m not sure all of my answers were interesting, but here are some snippets that capture my curmudgeonly outlook. I think it’s important to divide the topic into two issues, the policies that cause short-run fluctuations and the policies that […]

For those who favor truth in labeling, the housing meltdown and related financial crisis and economic downturn should be brightly stamped with the phrase, “Made in Washington.” Here are two good pieces of evidence. First, this paper from the American Enterprise Institute is one of the best big-picture analyses on the issue. It identifies how […]