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Archive for March 2nd, 2013

Bernanke Is in Denial on Too Big to Fail

Posted in Main Blog (All Posts) on March 2nd, 2013 12:08 am by HL

Bernanke Is in Denial on Too Big to Fail
Simon Johnson, New York Times
In testimony to the Senate Banking Committee this week, Ben Bernanke made a clear statement acknowledging that very large American banks receive implicit subsidies because the market believes they are too big to fail. This was one of the most forthright public statements on this topic by a top Fed official, and Mr. Bernanke should be congratulated for being honest and direct on this important point. Unfortunately, when it came to discussing how to bring down this subsidy – and addressing the problem of “too big to fail” financial institutions –…

Why Schools Should Teach the Bible
Roma Downey & Mark Burnett, WSJ
Have you ever sensed in your own life that “the handwriting was on the wall”? Or encouraged a loved one to walk “the straight and narrow”?Have you ever laughed at something that came “out of the mouths of babes”? Or gone “the extra mile” for an opportunity that might vanish “in the twinkling of an eye”?If you have, then you've been thinking of the Bible.These phrases are just “a drop in the bucket” (another biblical phrase) of the many things we say and do every day that have their origins in the most read, most influential book…

Obama Is the Closest Thing to Nixon in 40 Years
Pat Caddell, FOX News
It is not without a bit of irony that, in the 40 years since the explosion of the Watergate story, Bob Woodward would again be under attack from the White House for trying to tell the truth. But this time the attack is coming from a Democrat. While Barack Obama may not share the Nixon pedigree, he and his White House are the closest thing to the Nixon regime of any that we have seen since then — both in the extent of their paranoia and their willingness to suppress the truth and push the boundaries of law.In my lifetime, in over 40 years in national politics, Mr. Obama is…

The Jobs Picture Is Far Worse Than It Looks
Mort Zuckerman, U.S. News
We think of the iconic images of the Great Depression as representative of a uniquely miserable period, long vanished from American history. The bread lines and soup kitchens of those abnormal times have gone. So, too, has the sight of thousands of men (there were very few women among them then) waiting all day outside a factory in a forlorn quest for work.But they're there still, in the many millions across the country—little changed in their total since the 1930s: 12.3 million today are fully unemployed, compared to 12.8 million in 1933 at the depth of the depression. The…