When Congressman Pat Tiberi voted No in taking $700 billion of the taxpayers’ money and giving it to the banks, I thanked him. It was a principled move. On September 29, Rep. Tiberi was right:
“This bill is a $700 billion check to build confidence in our financial markets. It’s a remedy, not a cure, [...]
One might be able to get away with saying that a cap-and-trade system for emissions reduction is a market solution. It is by no means a free market solution.
I found one good thing about the system from the Chicago Climate Exchange web site. They sell their contracts in metric tons of greenhouse gases that [...]
I suppose it’s not enough punishment that our currency is getting trashed by the upcoming $700 billion bailout bill. or that owners of Bear Stearns, Lehman Brothers, and other companies’ stock saw their millions of dollars in shares go into the tank.
Now Congress is interested in capping executive compensation, reports Reuters.
Can we cap theirs?
Last time [...]
The banking industry has not been “free market” for a long time; thus the “free market” is not to blame for this mess.
Cafe Hayek has started outlining government policies that directly affected this crisis. They all involve government pushing banks to make loans they wouldn’t normally dare:
The Community Reinvestment Act of 1977, in which Congress [...]
The Associated Press reports that House Democrats are offering a drilling proposal that gives coastal states the right to allow drilling 50 miles off of their coast and allows drilling in federal waters 100+ miles off the coast.
Unfortunately, the proposal has several land mines, according to the article:
Even if the state gives permission for drilling [...]
