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Fostering a Liquidity Crisis

From The Wall Street Journal, How the Next Financial Crisis Will Happen by Stephen Schwarzman: Despite good intentions, however, politicians and regulators constructed an expansive and untested regulatory framework that will have unintended consequences for liquidity...

Financial Bloat

A black hole for our best and brightest by Frank Tankersley at The Washington Post Excerpts: It’s not that finance is inherently bad — on the contrary, a well-functioning financial system is critical to a market economy. The problem is, America’s financial system has...

Why Tax Cuts are Disproportionate

Kevin Williamson writes Blue Voodoo in National Review. Excerpts:  The cartoon version of conservative economic thinking — that we should subsidize gazillionaires in order to create work opportunities for yacht painters, monocle polishers, and truffle graters — is...

Leveraging Ignorance

The Greatest Trade Ever by Gregory Zuckerman is the story of John Paulson and a handful of other traders who took positions against the mortgage market and made fortunes in a very short period of time.  Their primary method was to buy credit default swaps.  These...

And Now for the Rest of the Story…

The outcome of the 2008 election centered around the financial collapse that hit just months before the vote.  Even the most committed capitalists were taken by surprise at what seemed like a significant failure of capitalism.  Outrage was magnified as taxpayer...