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12:07 PM, May 12, 2012 • By DANIEL HALPERJames Pethokoukis recommends that Republican presidential candidate Mitt Romney use the following response to the news that JP Morgan lost $2 billion in risky trading:
Today’s news of huge losses on Wall Street highlights the failure of Obama-Dodd-Frank to fix the broken U.S. financial system and prevent a repeat of the financial crisis. As president, I will repeal this well-intended but poorly-executed law. But we must go further. In the past, I have expressed skepticism about the wisdom of breaking up, shrinking, or otherwise limiting the activities of America’s very largest financial institutions. But when a bank like JP Morgan that most experts think is America’s best run can suffer a loss like this, it’s clear changes must be made. It’s time for radical surgery.
With each passing year, the banking industry has become more concentrated and more interconnected. Half of the entire banking industry’s assets are now on the books of five institutions. Their combined assets presently equate to roughly 58 percent of the nation’s gross domestic product. The combined assets of the 10 largest depository institutions equate to 65 percent of the banking industry’s assets and 75 percent of our GDP. Under Obama-Dodd-Frank, the “too big to fail” problem has gotten worse. And we simply cannot afford another bailout or Great Recession caused by a second financial meltdown.
So, I have concluded there is only one fail-safe way to deal with too big to fail. I believe that too-big-to-fail banks are too-dangerous-to-permit. As Mervyn King, head of the Bank of England, once said, “If some banks are thought to be too big to fail, then … they are too big.” I favor an international accord that would break up these mega-institutions into more manageable size. And as president, I will order my Treasury to immediately begin negotiations to that end.
Whole post here.
4:45 PM, Apr 27, 2012 • By JOSH GOODFyodor Dostoevsky once purportedly wrote that the degree of civilization in a society can be judged by entering its prisons. As many in the mainstream media have reminded us since his April 21 death at age 80, Charles W. Colson first did so in 1973, as President Nixon’s “hatchet man” sent to prison for seven months after his role in exposing Daniel Ellsberg. His subsequent contributions to improving the lives of prisoners—and to setting in motion entirely new prison paradigms—will endure for decades to come.
Read more... Let's call Social Security what it is — a welfare program. 2:28 PM, Apr 9, 2012 • By MARK HEMINGWAYRobert Samuelson has a strong column today on how one of the biggest obstacles to Social Security reform might be psychological. Though FDR's original vision for the program was a "contributory pension plan" and most Americans are still under the the impression that this is what it is, the reality is that it's structured much more like a welfare program:
Read more... 3:17 PM, Apr 5, 2012 • By DANIEL HALPERGovernor Bobby Jindal brings hope and change to the education system in Louisiana. The AP reports:
"The Louisiana House has given final passage to Gov. Bobby Jindal's proposal to make it tougher for teachers to reach the job protection known as tenure and to do away with the statewide pay scale for teachers.
Read more... 4:08 PM, Mar 21, 2012 • By IKE BRANNONWhile the spending side of the House Republican budget plan is getting most of the media attention, the revenue portion of the plan deserves just as much attention for what it achieves—the resumption of a healthy debate over just what tax reform should entail.
Read more... 4:08 PM, Mar 13, 2012 • By DANIEL HALPERLouisiana governor Bobby Jindal is moving ahead with education reform--but it isn't without controversy.
Read more... 10:41 AM, Feb 3, 2012 • By IRWIN M. STELZERToday’s jobs report is all good news for the country, and bad news for Republicans who are hoping that a failing economy is all they need in order to unseat President Obama.
Read more... 8:12 AM, Dec 8, 2011 • By JEFFREY H. ANDERSONSpike Dolomite Ward’s op-ed in the Los Angeles Times has been getting a fair amount of attention. Ward, a private citizen and an on-again, off-again supporter of President Obama and his party, is now thankful for Obama because Obamacare helped her get health coverage for cancer when she didn’t have insurance.
Read more... 4:16 PM, May 22, 2011 • By JEFFREY H. ANDERSON
Today, on Meet the Press, Paul Ryan responded to a question in which David Gregory asserted that the Medicare reforms proposed by the House are unpopular.
Read more... 2:25 PM, May 17, 2011 • By JOHN MCCORMACKOn a conference call with bloggers and reporters from conservative media outlets today, Newt Gingrich continued to do damage control in the wake of his comments on Meet the Press, in which he used the terms "radical change" and "right-wing social engineering" when discussing the House Republicans' plan to reform Medicare.
Read more... 6:00 AM, Mar 29, 2011 • By JEFFREY H. ANDERSON
As Republicans contemplate what sort of budget they should propose (real budget solutions, not continuing resolutions), it's important to realize that they are in a somewhat enviable position: What is clearly best for the country is also likely best for them politically.
Read more... Repeal Obamacare, level the playing field, and bend the cost curve (really!).May 24, 2010, Vol. 15, No. 34 • By PETER J. HANSEN
The incentive structure of our present health care system is fundamentally flawed, and the legislation signed by President Obama will exacerbate the problem. It will increase what we spend on health care, or lead to rationing, or both. Perhaps most important, it will undermine the self-reliance and character of the American people.
Read more... 7:35 PM, May 12, 2010 • By JOHN MCCORMACKIt's not hard to see why Dan Coats was able to survive the anti-establishment wave this year. Sure, it helped that the former Indiana senator and U.S. ambassador to Germany had two GOP primary opponents who split the anti-establishment vote, enabling him to grab the nomination with about 40 percent of the total vote.
Read more...  Unmoored from the American people.12:00 AM, Apr 15, 2010 • By JEAN KAUFMAN
Congress has always had its flaws. All too often, the road to the enactment of legislation has been fraught with corruption, stupidity, threats, bribes, and other sordid practices.
But as bad as that is, what transpired during the passage of health care reform was different and even worse. The process by which this bill was passed didn’t just feature corruption and violate traditional ethics. It revealed a president and a congressional leadership that in concert have shown more callous contempt than any in history for the will of the American people, the safeguards against the tyranny of the majority built into the Constitution, and the parliamentary rules by which Congress operates. And there’s every indication that, if need be, the same will be true of cap and trade, immigration reform, or whatever else Obama, Pelosi, and Reid may deem the next morsel they plan to cram down the recalcitrant throat of the American public.
Read more...
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- Conservative Intelligence
- Satirical Wit
- Foreign Policy Insight
- Sophisticated Perspective
Ethan Epstien, in a New York System state of mind
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Washington plays by TSA rules.
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Reflections from the thinking man’s knuckleballer.
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Really?
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A film without pretension about warriors as heroes.
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With American evangelicals on the ground in South Sudan.
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Romney’s challenge is to address the deep uneasiness in America and point the way to a comeback.
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The American and his/her car.
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   Obama’s overblown tax breaks
for business.
 Why we need to break up the banks.
 Why we build memorials.
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