Procrustean regulation of banks and other financial institutions, passed by the House and pending in the Senate, will not prevent the next credit debacle and economic recession. The House of Representatives has just passed a bill, primarily the brain child of Congressman Barney Frank, that expands the scope and detailed depth of financial markets’...
Federal Reserve chairman Ben Bernanke is a devotee of Keynesian economics, which is to say that he is incapable of learning from experience. Either he can’t comprehend that the Fed’s excessive fiat money creation always precedes bubbles of economic exuberance, or he insanely proposes to continue repeating the Fed’s cheap money policies, ever hopeful...
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