Securities and Exchange Commission
Republicans Attack Financial Reform
March 17, 2011
Republicans look to start rolling back financial reform: Republicans clearly want to strike at the heart of banking reform with legislation attacking new regulations on derivatives, credit rating agencies and private equity firms. But their piecemeal approach suggests they are trying to do so without appearing to favor Wall Street over Main Street.
Take Boehner Seriously. Please.
September 14, 2010
It's been an almost a week since House Minority Leader John Boehner came forward with his economic plan, such that it is, but I wanted to make one observation about it. Boehner's plan would mean a fairly drastic cut in discretionary spending: According to the Center on Budget and Policy Priorities, Boehner is seeking to reduce it by 22 percent, or more than $100 billion. Of course, Boehner sees this as a virtue: The whole point is to assure voters he wants to reduce "spending." And when you put it that way, in such abstract terms, it sounds pretty appealing to most people.
Defending ‘The Unnecessary Fall of Barack Obama’
August 25, 2010
Was I too harsh on the president?
The Unnecessary Fall
August 12, 2010
A counter-history of the Obama presidency.
Why Brandeis Matters
June 29, 2010
Louis D. Brandeis: A Life By Melvin I. Urofsky (Pantheon, 955 pp., $40) I. In 1916, Herbert Croly, the founder and editor of The New Republic, wrote to Willard Straight, the owner of the magazine, about the Supreme Court nomination of Louis Brandeis. Croly enclosed a draft editorial called “The Motive of Class Consciousness,” and also a chart prepared by a lawyer in Brandeis’s office showing the overlapping financial interests, social and business connections, and directorships of fifty-two prominent Bostonians who had signed a petition opposing Brandeis’s nomination.
June 21, 2010
In Obama’s June 15th Oval Office speech on the oil spill, he railed against a “failed philosophy that views all regulation with hostility—a philosophy that says corporations should be allowed to play by their own rules and police themselves.” Obama was getting at a real problem. As economic historian Edward Balleisen points out, the trend over the past half century has not been less regulation per se, but a greater acceptance of “self-regulation,” whereby industry funds government oversight, and government outsources oversight to industry.
May 07, 2010
As soon as Justice John Paul Stevens announced that he would leave the Supreme Court, President Obama and progressive groups said the next justice should be an economic populist.
The Perpetual Death Of Freedom
April 28, 2010
Daniel Gross has a good column in Slate about how Wall Street always claims regulation will ruin it, and it always wrong: My general rule of thumb is that we should generally ignore what Wall Street has to say about financial regulation. Investment banks lack the common sense to know what's good for them. The financial sector opposed all the regulations that were good for it in the 1930s—i.e. the advent of the Securities and Exchange Commission and the creation of the Federal Deposit Insurance Corp.