Finance Articles


Beyond Bailout Nation

Republicans need something to say about 2008.
Oct 26, 2015

After the Great Depression, Democrats ran against Herbert Hoover for 30 years—and with great success. Even though Hoover’s policies were anything but market-oriented—he greatly raised spending, taxes, and tariffs in response to the 1929 Wall Street crash—Republicans took the fall for Hooverism. It wasn’t until Ronald Reagan that free markets were fully politically rehabilitated.

 Read more

What GE's Decision to Exit the Finance Sector Means

11:00 PM, Apr 17, 2015

General Electric is divesting its finance business, starting with the sale of $26.5 billion of real estate assets. Back to its roots as an industrial manufacturing powerhouse, churning out jet engines, medical devices, oil drilling equipment and the other heavy equipment.

 Read more

The Hunger Artists

A short-term investment in high-yield talent
Sep 01, 2014

When writers become famous, it is easy to forget that they were once obscure, and sometimes very poor. Yet with few exceptions—Homer, Tacitus, Omar Khayyam, Jonathan Safran Foer—even the greatest writers had to slave away at menial positions before their careers took off and they could support themselves with their pens alone. 

 Read more

Dodd-Frank Turns 4!

11:00 PM, Jul 25, 2014

Celebrating a fourth birthday and growing nicely. That’s the story of the Dodd-Frank law, designed to end a “too big to fail” banking system that forced taxpayers to bail out bankers who took not only their own banks but the entire financial system to the verge of collapse, and brought on a record recession. Dodd-Frank, which weighed in at over 2,000 pages at birth, has since put on 14,000 pages of implementing regulations, with more to come.

 Read more

Political Class Idle as Tax Inversions Continue

11:00 PM, Jun 27, 2014

To meteorologists, an inversion is a deviation from the normal change of an atmospheric property. It can lead to pollution and adverse health effects. To Wall Street dealmakers, and now to most boards of directors, an inversion is a cross-border merger that allows the buyer to reincorporate in a more tax-friendly jurisdiction.

 Read more

Treasury Doesn’t Know How Much New MyRA Program Will Cost

4:03 PM, Jun 19, 2014

In January during his State of the Union Address, President Obama unveiled his new myRA program. “Let’s do more to help Americans save for retirement. Today, most workers don’t have a pension. A Social Security check often isn’t enough on its own. And while the stock market has doubled over the last five years, that doesn’t help folks who don’t have 401(k)s. That’s why ... I will direct the Treasury to create a new way for working Americans to start their own retirement savings: myRA,” he explained.

 Read more

Not a Model

Obama’s inexplicable admiration for China’s infrastructure policy.
Mar 24, 2014

President Obama likes to promote his domestic policy agenda by highlighting economic competition from China. In particular, he has repeatedly pointed to China’s massive infrastructure investments to tout his proposals for infrastructure spending in America.

 Read more

The Day That Made Obama

September 15, 2008.
10:58 AM, Sep 19, 2013

Sunday was September 15. It's an important anniversary, because it's the day that gave us President Barack Obama.

 Read more

City Under Siege

The European Union’s coming attack on the Anglo-Saxon financial sector
Jul 01, 2013

Take a visit to the cyber-belly of the beast, to a website run by the European Commission, the EU’s bureaucratic core, and you will be told that “the financial sector was a major cause of the [economic] crisis and received substantial government support.” Soon it will be payback time, in the form of Europe’s new Financial Transaction Tax (FTT), set to be levied at a rate of 0.1 percent on equity and debt transactions, and 0.01 percent on trades in derivatives. It will ensure that the financial sector “makes a fair and substantial contribution to public finances.”

 Read more

U.N. for Combating Terror Finance to Convene in Sudan, a State Sponsor of Terror

8:52 AM, Apr 27, 2013

On Sunday, the leading experts on terrorism finance in the Middle East and North Africa will convene for a five-day conference. The Financial Action Task Force is essentially the United Nations for combating terror finance, and MENAFATF ranks among its most important regional bodies. So why is the group meeting, in all places, in Khartoum?

 Read more

The Inside Game

11:43 AM, Apr 08, 2013

For all the talk of "changing the culture in Washington," it appears to be business as usual ... only more so.

 Read more

Federal Reserve Continues QE3, Improves Outlook for Unemployment

Revises downward GDP forecast.
3:02 PM, Mar 20, 2013

In a press conference today, the Federal Reserve announced it will keep interest rates low and leave QE3 unchanged, continuing to buy $85 billion a month in bonds to prop up the economy.

 Read more

Fiscal Fitness

A political economy regimen for Republicans.
Feb 25, 2013

Abandon ‘the Children’

We need a better argument against the massive federal debt
Feb 11, 2013

Politicians are not known for originality. In their public speech, most cling to the security of clichéd stock phrases the way toddlers hold fast to threadbare blankets.

 Read more

Obama Pledges to Continue Crackdown on 'Irresponsible Behavior'

9:04 AM, Jan 26, 2013

President Barack Obama pledged this morning in his weekly radio address to continue to crackdown on "irresponsible behavior."

"Here in America, we know the free market is the greatest force for economic progress the world has ever known.  But we also know the free market works best for everyone when we have smart, commonsense rules in place to prevent irresponsible behavior," Obama began.

 Read more

Obama Benefited Financially from the Auto Bailout

1:01 PM, Oct 19, 2012

Earlier today, the Obama campaign pushed around a story that they claimed proved Mitt Romney "was against the auto bailout...but personally [benefited] from it."

 Read more

The $4.351 Trillion Difference Between Obama & Clinton

1:40 PM, Sep 05, 2012

Always looking "forward," President Obama has asked Bill Clinton—who was elected to the presidency 20 years ago—to speak tonight and suggest to the American people (whether explicitly or implicitly) that this is really a choice between Clinton and George W. Bush, rather than between Obama and Mitt Romney. If you're Obama, this beats running on your record.

 Read more

Ex-Citi CEO Calls for Breaking Up the Banks

5:18 PM, Jul 26, 2012

Sandy Weill is calling for the banks to be broken up. Bloomberg reports

 Read more

Obama Gives Air Force One Lift to Former Campaign Finance Chair

2:00 PM, Jul 24, 2012

According to the pool report, "joining POTUS on the flight from San Fran was Penny Pritzker, the campaign's finance chair four years ago. Jay Carney said she was in the neighborhood."

Must be nice to have been a big bundler for President Obama, and pretty convenient to get a lift on Air Force One when the president just so happens to be in the neighborhood. 

 Read more

Romney Camp Outraises Obama by $35 Million in June

9:36 AM, Jul 09, 2012

Barack Obama's campaign just announced that it raised $71 million in the month of June, while earlier today Mitt Romney's campaign announced a $106 million June haul. The difference? Romney outraised Obama by $35 million in June.

 Read more

Dodd-Frank Is Unconstitutional

8:54 AM, Jun 22, 2012

C. Boyden Gray and Jim R. Purcell, writing in the Wall Street Journal:

 Read more

Obama to Raise Funds at Home of Private Equity Defender

10:52 AM, Jun 04, 2012

Last week, Marc Lasry defended private equity on national television. "Private equity, do they do God's work or are they vampires?" a CNBC host asked Lasry, who is a hedge fund manager. "I think they do very good work," he replied.

Today, Barack Obama will go to Lasry's New York City home. But the president isn't going to voice his disagreement with the money man; instead, he's going to collect a check--$40,000 per person in attendance.

 Read more

DNC Chair Says Obama's Private Equity Doublespeak Is 'Apples and Coconuts'

8:44 AM, May 25, 2012

This morning on CNN, Democratic National Committee chair Debbie Wasserman Schultz was asked, "Why is it not hypocrisy for the president to take campaign donations from private equity when he's attacking private equity making that an essential part of his campaign?"

 Read more

Polls Apart

Quantifying the conflict between the People and the Political Class.
Feb 27, 2012

This may come as a shock to many pollsters and much of the press corps, but public opinion is a little more complicated than randomly calling 1,000 Americans, asking them a dubiously worded question about a complex political issue, and reporting the aggregate results.

 Read more

The Real Obama

The budget of a left-wing progressive.
Feb 27, 2012

President Obama’s budget for 2013 is pure Obama. How do we know? Paul Ryan, the House Budget Committee chairman, was once asked how to become a budget expert. “You have to read the budget,” he said. To know Obama, it’s similar. You have to read the speeches and look over the budgets. 

 Read more

If Newt Is Perot . . .

. . . then Romney should avoid being Bush.
9:42 AM, Jan 11, 2012

Rush Limbaugh compares Newt Gingrich's attacks on Mitt Romney with Ross Perot's destructive assault on George H.W. Bush in 1992. It's a thought-provoking comparison.

 Read more

Life Is Earnest

No wings for this angel, but Mr. Potter was right.
Dec 26, 2011

 

Christmas is nigh, and so are the nonstop showings of Frank Capra’s beloved 1946 classic, It’s a Wonderful Life. As they do every year, millions of Americans will take in the tale of small-town mortgagee George Bailey—who, with a little help from his guardian angel, reminds us that true success is measured by the love of family and friends.

 Read more

Republicans Learn Moneyball

Why the GOP candidates need to talk about the Fed.
Oct 24, 2011

Three Republican presidential candidates​—​Herman Cain, Ron Paul, and Newt Gingrich​—​have at least hinted about the desirability of a return to the gold standard. The four top Republican congressional leaders recently called on the Federal Reserve to curb its interventions in the U.S. economy. In early October the Heritage Foundation held a two-day sound money conference in which both keynote speakers​—​New York investment banker Lewis Lehrman and former presidential candidate Steve Forbes​—​called for adoption of a gold-backed dollar. Advocating the replacement of Fed chairman Ben Bernanke has become a

 Read more

Paul Singer on Finance

8:46 AM, Mar 21, 2011

The Wall Street Journal interviewed hedge-fund manager Paul Singer over the weekend:

 

 Read more