Hundred Years of Bailouts

by Chidem Kurdas After all that’s been said and written about financial crises, it is rare to come across useful insights.  Financing Failure. A Century of Bailouts by Vern McKinley documents a major continuity with past policy making. He shows that policies intended to prop up failing companies are nothing new—the same basic pattern has recurred time … Continue reading Hundred Years of Bailouts

Is Justice Roberts a Big Player?

by Roger Koppl The Supreme Court upheld “Obamacare” because Chief Justice Roberts changed his mind. (It seems that “Obamacare” is no longer a pejorative.)  In this curious situation, a stalwart of the Federalist Society  has become a Big Player in healthcare markets. A Big Player is a powerful actor who uses discretion to influence a … Continue reading Is Justice Roberts a Big Player?

Remember Those Oil Speculators?

by Chidem Kurdas Less than two months ago, President Obama claimed that speculators were (or at least might be) artificially driving up the price of oil—a notion that some politician or pundit  brings up every time gasoline looks expensive. The idea fades when the market changes direction. Thus in recent weeks, economies worldwide took a … Continue reading Remember Those Oil Speculators?

Krugman on Banks and Romney

by Chidem Kurdas Regulation advocates seem to regard the JP Morgan loss as the best thing since sliced bread. Thus Paul Krugman gleefully bawls out Mitt Romney for refusing to see it as a sign for greater government intervention. Krugman repeats the by now well-known argument on banks, as a riff on “It’s a Wonderful … Continue reading Krugman on Banks and Romney