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Not even the most powerful man in the financial world has been able to stop the greatest affront to free-market capitalism since Karl Marx.The perverse doctrine of too-big-to-fail still guarantees that taxpayers will bail out large financial institutions, at any cost, no matter how reckless or stupid they become, just because they are systemically important. "I'm in complete agreement that we need to stop too-big-to-fail," Federal Reserve Chairman Ben Bernanke said during his semi-annual appearance before the Senate Banking Committee on Tuesday.He was agreeing with his Democratic inquisitor Sen. Elizabeth Warren of Massachusetts."We've now understood this problem for nearly five years," Ms. Warren needled the chairman. "So when are we going to get rid of too-big-to-fail?"Ms. Warren, by the way, is brand-spanking new to the Senate. Republicans refused to approve her as head of the new Consumer Financial Protection Bureau established in response to the 2008 financial crisis. So she did...
November 9, 2009 02:52 PM UTC by John StosselRole Models of FailureThe Berlin Wall fell 20 years ago today.When it happened, I thought it would be the clear turning ...
01/29/09
Spending or Tax Cuts
Finding the financing to make new films.
David Castillo on markets
Rep Bilbray on Greenspan
October 09, 2008 9:36 AM We Are Not Headed for a Great Depressionby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »In a bear mar...
October 9, 2008 09:36 AM UTC by Elizabeth MacDonaldWe Are Not Headed for a Great DepressionIn a bear market, there is always a bull run on Chicken Little helmets.We ...
January 16, 2008 12:28 PM Beware the Economic Cleanup Crewby Elizabeth MacDonaldSelect rating Poor Okay Good Great Awesome No votes yetComments »With the U.S. facing...
January 16, 2008 12:28 PM UTC by Elizabeth MacDonaldBeware the Economic Cleanup CrewWith the U.S. facing a recession, according to a growing chorus of economists, th...
NACA CEO Bruce Marks and George Mason University Real Estate Professor Anthony Sanders on the announced mortgage settlement between banks and regulators.
U.S. foreign policy with China, under both Republican and Democratic administrations, has been, "Loan us your money, so we can buy your stuff."Some of our most-valua...
Brent Bozell of the Media Research Center discusses how the mainstream media is painting the economic picture and what it means for the presidential election.
FBN's Charlie Gasparino on what he saw in downtown Manhattan this weekend at the Occupy Wall Street movement.
The Judge explains that while today's economic crisis may be a crisis of capitalism, it is a crisis caused not by free markets but by their absence.
More Democrats are talking tax cuts for the rich.