Where is Phil Gramm hiding? The former Republican senator from Texas has not been heard from since his bank got nailed by the G-men. Or, as the Times put it, UBS now has the distinction of being "the first big global bank in more than two decades to have a subsidiary plead guilty to fraud."
Once again the 'bipartisan' consensus in Washington, fueled by an intoxicating brew of conventional wisdom laced with campaign cash, has repealed some of those 'cumbersome regulations' that do nothing of value -- nothing, that is, except prevent catastrophes.
We can't know for sure what's behind these oil prices. But what we can know is that we don't know -- and that our government should have the resources to track these markets and intervene when they're being misused.
No doubt many reasonable Americans will view Obama as the lesser evil come election time, and for some that will prove compelling. But I take the dreary choices to be one akin to a form of slow torture. Better to support the Occupy Wall Street protests as an inspiring alternative.
The national press loves to fall in love, and Perry had a nice 72-hour honeymoon before his shoot-from-the-lip style, which works in Amarillo, Abilene and around Austin, backfired with Bernanke. Big time.
President Obama gained credibility through sacking Gen. Stanley McChrystal for making untoward remarks. Why not sack Summers and Geithner for untoward policies that have inflicted such misery on the general public?
It's obvious that trial modifications and loan forebearances -- the main thrust of the administration's Home Affordable Modification Program -- are just delaying foreclosures that are dragging down economic recovery efforts.