APRIL 10, 2010 L.A.’s Global Warning The finger-pointing begins in the city’s financial meltdown. In Los Angeles’s latest soap opera, city controller Wendy Greuel has declared an “urgent financial crisis.” Get used to hearing those words a lot across the urban landscape. Ms. Greuel warned that next month L.A. could run out of money if […]
LA’s Urgent Financial Crisis Read More »
APRIL 17, 2010 New Jersey’s ‘Failed Experiment’ The new governor is on a mission to make his state competitive again in attracting people and capital. By JAMES FREEMAN ‘I said all during the campaign last year that I was going to govern as if I was a one-termer,” explains New Jersey Governor Chris Christie on
Chris Christie Takes On Jersey! Read More »
APRIL 13, 2010 Incentives Not to Work Larry Summers v. Senate Democrats on jobless benefits. ‘The second way government assistance programs contribute to long-term unemployment is by providing an incentive, and the means, not to work. Each unemployed person has a ‘reservation wage’—the minimum wage he or she insists on getting before accepting a job.
Larry Summers Words Come Back to Haunt Him Read More »
APRIL 13, 2010 Reaganism, New Jersey Style By WILLIAM MCGURN If you think that Snooki getting socked in the kisser during an episode of “Jersey Shore” epitomizes life in the Garden State, you haven’t been paying attention. The best reality show on television today isn’t running on MTV. It’s in Trenton, where Gov. Chris Christie
Chris Christie – “I’m Not Signing a Tax Increase” Read More »
Morning Bell: Wall Street Bailouts Forever Posted By Conn Carroll On April 14, 2010 [1] There is no person more central to Washington’s bailouts of Wall Street than Treasury Secretary Timothy Geithner. As President of the Federal Reserve Bank of New York, he oversaw the federal bailout of Bear Stearns [2] and under former Treasury
Heritage Foundation -Wall Street Bailouts Forever Read More »
APRIL 12, 2010 By BURTON FOLSOM JR. AND ANITA FOLSOM ‘He got us out of the Great Depression.” That’s probably the most frequent comment made about President Franklin Roosevelt, who died 65 years ago today. Every Democratic president from Truman to Obama has believed it, and each has used FDR’s New Deal as a model
Did FDR End the Depression? Read More »
APRIL 7, 2010 By ALEX J. POLLOCK Government employees on average have higher pay and bigger benefits than the private-sector employees who support them with taxes. This has become a well known fact. When private firms run extended losses—spending more money than they take in—their employees must share in the necessary adjustments. But how about
How To Cut Government Pay Read More »
APRIL 7, 2010 By ZACHARY KARABELL So we’re almost there. The Dow is flirting with 11000 for the first time since October 2008—after falling to a low of 6500 in March last year. Now seems an appropriate time to ask whether the dramatic recovery of stocks is sustainable and to speculate about what comes next.
DOW 11000 Is Only the Beginning Read More »
APRIL 7, 2010 By PETER J. WALLISON AND DAVID SKEEL There are many reasons to oppose Sen. Chris Dodd’s (D., Conn.) financial regulation bill. The simplest and clearest is that the FDIC is completely unequipped by experience to handle the failure of a giant nonbank financial institution. The country should be grateful for the determination
The Dodd Bill: Bailouts Forever Read More »
Henry Waxman’s War on Accounting By Megan McArdle Accounting basics: when a company experiences what accountants call “a material adverse impact” on its expected future earnings, and those changes affect an item that is already on the balance sheet, the company is required to record the negative impact–“to take the charge against earnings”–as soon as
The Atlantic – Accounting Basics Read More »
