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GM IPO Date Set for Tomorrow: What’s Good for New GM is Bad for the Rest of America
In his 1953 confirmation hearing for Secretary of Defense in the incoming Eisenhower administration, former General Motors CEO Charles “Engine Charlie” Wilson was asked how…
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The Free Checking Restoration Act of 2011
“Free checking as we know it is ending,” says the lead paragraph of a widely-read and tweeted story this week from the Associated Press.
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GOP “Pledge to America” Includes Constructive Reg Reform
The House Republican “Pledge to America” unveiled today has been criticized by RedState’s Erick Erickson and other center-right pundits for a lack of specifics.
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One Cheer for Obama Tax Plan, with Plenty of Caveats
President Obama’s new economic recovery plan, coming more than a year-and-a-half after an infusion of $1 trillion in big-government spending failed to “stimulate” the moribund economy, deserves…
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GM IPO Buyers Beware: Filing Asserts Exemption from Anti-fraud Laws
General Motors filed paperwork last week to launch its much-anticipated initial public offering. It could be the biggest IPO in U.S. history, raising up to $20 billion,…
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Fannie-Freddie White House Sham Summit Produces Short-Sighted Solutions
After ramming through a “financial reform” bill that increases government controls on such “ants” (hat tip to House Minority Leader John Boehner’s comments–distorted by the press–in full context) as orthodontists…
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Obama subsidizes Ford after blocking its access to credit
At the 1986 White House Conference on Small Business, President Ronald Reagan offered these famous remarks about politicians’ views on business in the 1970s. Reagan…
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In defending Kagan, Media Matters embraces Bush Justice Department
Well, who woulda thunk it?! George W. Bush’s Justice Department is now considered a citadel of wisdom by the legal eagles at the liberal Media…
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Dodd-Frank is not “financial reform,” it’s more Big Government lunacy
The 2,315 page Dodd-Frank financial regulation bill should not be called “financial reform.” Instead, it should be called what for what it is: pages and…
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CEI’s Supreme Court Oscar Speech
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CEI Statement on Senate Passage of Restoring American Financial Stability Act
The “Restoring American Financial Stability Act,” that passed Congress last night with 39 senators voting “nay,” will hurt Main Street investors and entrepreneurs, and worsen…
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Dodd bill’s unintended consequences for Main Street
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Durbin’s Walgreens Corporate Welfare Amendment
Give Dick Durbin some credit for his chutzpah. It’s not every lawmaker who, in proposing an amendment to a financial reform bill ostensibly aimed at…
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More GM Bailout Lies: Ally (GMAC) Bank’s Deceptions
General Motors’ false advertising that it has paid back its bailout money “in full” has prompted harsh criticism. Yesterday, Competitive Enterprise Institute Attorneys Hans Bader…
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As financial vote fails in Senate, Florida shows how to really protect consumers from deception
Yesterday, the Senate failed to achive the 60 votes necessary to move forward on the Restoring American Financial Stablity Act. All Republicans present and Sen.
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Center-Right Coalition Letter Opposes Toxic Provisions in Dodd Bill
Below is a letter sent today to the Senate that was signed by several prominent groups in the Center-Right Coalition expressing “grave concerns about the…
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Obama-Dodd financial bill would further enrich Goldman Sachs
Today, the SEC charged giant investment bank Goldman Sachs with more than $1 billion worth of securities fraud for its dealings in the subprime mortgage…
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Fannie and Freddie finally called to Crisis Commission
It is good that the commission, after several months, is finally visiting the role of Government-Sponsored Enterprises, but the setup of today’s hearing is still…
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CEI files amicus in Aussie bank case threatening national sovereignty
Headquartered in Melbourne, the second largest city of the land down under, National Australia Bank is firmly attached to its home country. The primary trading…
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Health Care- Fix middle-class “medicine cabinet tax” in reconciliation
“They won’t be so opposed to it once they see what’s in it.” That’s the rationalization House leaders have given skittish Democrats to get them…
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Dodd bill punishes Main Street entrepreneurs, rewards Fannie and other high rollers
With the focus this week on health care’s “home stretch” and concerns about government limiting the ability of ordinary Americans to make choices about medical…
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Credit CARD Act penalizes thrift and entrepreneurship; interchange fee controls would compound harm to consumers
Today, the Credit Card Accountability, Responsibility, and Disclosure (CARD) Act of 2009 goes into effect. While the law, passed last May, is being hailed as…
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Obama’s Glass-Steagall 2.0 could crash financial system
President Obama’s proposal today to bring back…
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Obama Bank “Responsibility Fee” Is Destructive, Hypocritical and Likely Unconstitutional
The so-called Financial Crisis Responsibility Fee is a tax in search of a target. Today, the President declared, “We want our money back.” Yet his…
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Financial Crisis Hearing is Partisan Sham that Skips Over Fannie and Freddie’s Role
John Berlau, director of CEI’s Center for Investors and Entrepreneurs, offers the following thoughts on what’s missing from the first hearing of the Financial Crisis…
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Health care bill’s hidden tax on pain relievers, Pedialyte, and prenatal vitamins
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Obama Summit: President’s goals of more loans and more heavy-handed regulation in conflict
Statement of John Berlau, director, Center for Investors and Entrepreneurs, Competitive Enterprise Institute: President Obama’s twin goals of more bank loans and more heavy-handed regulation…
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Tarp the TARP and give small biz relief from Sarbanes-Oxley and other burdensome regs
Statement of John Berlau, Director of CEI’s Center for Investors and Entrepreneurs, on extending TARP for small business and on Rep. Barney Frank’s plans to…
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Reps. Maloney and Adler push true bipartisan stimulus — Sarbanes-Oxley relief
After months of talk about solutions that would rev up job growth and the economy, today the House Financial Service Committee may finally adopt a…
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7-Eleven serves up Big Gulp of Big Government to credit card consumers
Tomorrow, 7-Eleven Inc. and other big retail chains will hit Capitol Hill to offer Congress members and their staffs a supersize serving of hypocrisy. Retailers,…
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Obama scolds Wall Street, but targets Main Street with regs
One year after the Wall Street meltdown, President Obama…
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Meryl trash talks Julia on pesticides and fat
In the new movie “Julie & Julia,” Meryl Streep does well portraying the late Julia Child, but one can say Streep also benefits from her subject. …
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Ted Kennedy’s Deregulatory Legacy on Airlines and Trucking
Tributes are pouring in for Edward M. "Ted" Kennedy, who lost his battle with brain cancer late Tuesday evening at the age of 77.
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UBS Deal Only a Partial Victory for the Feds
Today, after a long and protracted battle between the U.S. and Swiss government, Swiss bank UBS AG agreed to turn over the names of at…
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UBS-IRS deal — U.S. Constitutional liberties, privacy rights at risk after Obama bullies the Swiss
Lawyers for the U.S. government and the Swiss bank UBS AG have announced that they have reached a deal…
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Bonus pay bill: CBO predicts huge costs to private sector, broad swaths of employees affected
After the nonpartisan Congressional Budget Office (CBO) calculated the enormous costs of an all-encompassing health care scheme with a bloated public option, members of Congress…
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Prof. Gates’ property rights likely violated in arrest — but Obama was wrong to weigh in
Amid all the endless media psychobabble about “national conversations” and “teachable moments” – and we will no doubt here more of this in the reporting of…
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Ex-CEO Hank Greenberg hits home run against AIG and Spitzer
Once again, the team of politicians and corporate bureaucrats pursuing the witchhunt against former American International Group CEO Maurice "Hank" Greenberg have struck out.
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Goodbye, Mary Lou: Tribute to a great journalist and editor
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Schumer and Cantwell’s deceptive advertising on shareholder “rights.”
If deceptive labeling of bills in Congess were punishable by regulatory agencies, Sens. Chuck Schumer (D-NY) and Maria Cantwell (D-WA) would be paying a hefty…
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Cheers for Indiana Treasurer’s halt to Chrysler Bankruptcy
The Second Circuit U.S. Court of Appeals and Indiana state Treasurer Richard Mourdock stand up against the Obama administration’s nationalization scheme.
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Bankruptcy judge should put breaks on “Government Motors”
President Obama and his auto task force should respect the role of the bankruptcy court and recognize that its role is not to rubber stamp…
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Sotomayor NOT first Hispanic Justice — Cardozo was
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Chrysler bankruptcy an opportunity to reject Obama nationalization
Is 48 hours enough time to save Chrysler from being nationalized?…
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General Growth Properties (GGP) — Bankruptcy the way it ought to be
On the surface, given the economic turmoil we’ve had, there was nothing that remarkable about the bankruptcy of shopping mall owner General Growth Properties (GGP).
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Obama credit card meeting — should meet with economists instead
Instead of meeting with the executives of credit card issuers and sactimoniously lecturing them about not raising rates, as he is doing…
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Stop Thief! NYT steals Examiner’s AIG scoop with no attribution
One week after Washington Examiner ace investigative reporter Timothy P. Carney broke the blockbuster story reporting that American International Group’s post-bailout CEO Edward Liddy…
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AIG CEO Liddy owns millions in stock in bailout beneficiary Goldman — Tim Carney blockbuster in DC Examiner
Everyone should read the blockbuster exclusive in today's Washington Examiner in which Timothy P. Carney confirms that AIG CEO Edward Liddystill owns more than $3…
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The mark-to-market relief rally
The events leading to the Dow’s climbing over 8000 today can be properly called the Mark-to-Market Relief Rally. More than any expected action of the…
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With or Without You
The Obama administration's ouster of GM CEO Rick Wagoner won't solve the auto giant's problems. It does, however, show the power that government now wields…
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The AIG Tax Trojan Horse
The massive tax hike being voted on in the House today is a Trojan horse that uses the legitimate outrage over the American International…
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Foreclosure and the ‘forgotten man’ in Obama’s SOTU speech
Perhaps with the popular reaction to Rick Santelli’s ‘tea party’, in which the CNBC commentator elicited cheers for saying that the thrifty should not…
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Nationalizing the cars and bikes of rock collectors — Pending Omnibus land bill’s forfeiture provision has broad reach
At the same time there has been so much talk of government nationalization of troubled big banks, a bill quickly snaking through Congress would allow…
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Obama’s Futile Attempts at Foreclosure Avoidance
If the government wants to spend $75 billion to help troubled homeowners, it would be better off giving a tax holiday to families subject to…
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The Birthday of an Entrepreneur
February is an important month in the history of American commerce. In a few days will be the birthday of one of the country’s earliest…
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Geithner’s “bad bank” is a big bad idea: fix bad mark-to-market accounting instead
The Obama’s administration $1 trillion plus bank bailout plan — on top of the $800 billion stimulus that just passed the Senate — will explode…
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SEC penalty policy change could harm innocent investors
In one of her first actions as SEC chairman, Mary Schapiro announced today that she was getting rid of a policy that required SEC officials…
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Springsteen clashes with Obama advisor on Wal-Mart
In between playing at the Lincoln Memorial for Barack Obama’s inaugural concert and performing the half-time show last night at the Super Bowl, Bruce Springsteen…
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Activist Jim Boulet RIP
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Geithner confirmed — but with bipartisan “nays”
The U.S. Senate voted to confirm Timothy F. Geithner tonight, but the vote was closer than expected with more “nays” than any previous nominee of…
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Milton Friedman counters Kennedy inaugural–and Obama’s
Before President Barack Obama gave his inaugural address, it had been reported that he was heavily studying John F. Kennedy’s speech at…
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Geithner should withdraw nomination for failure to pay self-employment taxes
Treasury Secretary Nominee Timothy Geithner’s failure to pay four years’ worth of self-employment taxes for Social Security and Medicare is absolutely astonishing. And as…
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Madoff: Hiding in Plain Sight, Thanks to SEC
Contrary to popular belief, Madoff's $50 billion Ponzi scheme was subject to to a variety of financial regulations, something he actually used as a selling…
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GM-Chrysler Merger Likely Blocked by Antitrust
General Motors & Chrysler could be strengthened by a merger, an option that wouldn't cost taxpayers a dime. But, the idea has been pushed aside,…
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Why Not a Wal-Mart Bank?
Seems like every business these days is becoming what’s called a “bank holding company” — seeking the shelter of the federal government’s deposit insurance and…
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Antitrust Liberalization May Avert Need for Bailouts; Outdated Laws Deter Efficient Mergers
In early 2007, the economy was humming along and General Motors was considered to be in the process of a turnaround. To help stabilize itself,…
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Auto Bailout – Destroying Detroit by ‘saving’ it
In a famous quotation from his 1986 address to the annual White House Conference on Small Business, President Ronald Reagan quipped that “government’s view…
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Claim of consumers’ fear of auto bankruptcy a canard in bailout debate
Eli, in answer to the blog post you phrased as a question, the argument from the individual you heard, echoed by other Big 3…
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Berlau on Air America today — debating deregulation on Thom Hartmann
Today at noon Eastern time, I will enter the lion's den. I will be live in the New York City studios of liberal network Air…
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DeLorean disproves domsayers in debate over auto bankruptcies
In the debate about bailing out the Big 3 automakers, it is said that we just can’t allow a bankruptcy. Despite the fact that Chapter…
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Geithner choice is ‘more of the same’ — was Paulson’s bailout cohort
If news accounts are true, and Presidet-Elect Barack Obama has indeed decided on Timothy F. Geithner to be his Treasury Secretary nominee, it represents a…
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Too Bad Daschle Isn’t at SEC — Backed Sarbanes-Oxley Relief
President-Elect Barack Obama just nominated former Senate Democratic Leader Tom to be his Secretary of Health and Human Services. Much is being written about Daschle…
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In mortgage modifications, property rights of investors must be respected
Today, in addition to Treasury Secretary Henry Paulson's expected announcement of a major mortgage modification plan through the $700 billion TARP, Barney Frank's House Financial…
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House GOP ‘Rapid Recovery’ plan spurs growth by changing long-term expectations
As soon as the elections are over, Congressional leaders are planning to have a “break the bank” party. On top of the $700 billion bailout…
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It wasn’t bailout that caused Monday’s market surge — 3 other factors
Since the $700 billion bailout was first proposed, whatever the stock markets did, much of the press took that as a sign that the market…
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The international mark-to-market contagion — sending global markets in a downward
Bailouts. Global interest rate cuts. More bailouts. Global government liquidity injections into banks. Direct government buying of commercial paper. And even more types of bailouts.
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Obama denigrates Delaware in debate
Poor little Delaware. In every presidential election since 1992, she has been in the “blue” column voting for the Democratic candidate. She has long had…
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Lehman Bros hearing — Rep. Maloney blames deregulation, ignores her own role as Fannie’s enabler
At the hearing being held today by the House Oversight and Government Reform Committee, in which former Lehman Brothers CEO Dick Fuld is now…
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Market down on bailout — Don’t compound damage with overregulation of ‘Main Street’
Today -- five days after a courageous independent vote against Treasury Secretary Hank Paulson's $700 billion bailout for Wall Street -- the U.S. House of…
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Another bad bailout idea — raising deposit insurance cap is regressive and counterproductive
As the Wall Street crisis has expanded, politicians are falling all over themselves arguing on behalf of the “little guy” against “fat cats.” But in…
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Republican Study Commitee plan now best viable alternative
The stunning defeat of the Hank Paulson’s socialism-for-Wall Street bailout on Monday has just made planks of a pro-free market alternative much more viable. As…
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Bailout fails — Move on to Mark-to-Market Reform
Oh, Happy Day! And it certainly is for all those who value freedom, responsibility and the true free market in which individuals are free to…
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$700 billion to worsen economy? — Berlau in American Spectator
Here are excerpts from my story in today’s American Spectator Online on how the $700 billion bailout could actually make things worse — in terms…
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Kudos to Republican Study Committee for bailout alternative
Those of us (and CEI is among the “us”!) who oppose Treasury Secretary Henry Paulson’s $700 billion bailout of Wall Street have been challenged to…
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Paulson bailout would worsen contagion-spreading accounting rules
My colleague Hans Bader is correct that most of the aims of Treasury Secretary Henry Paulson's $700 billion bailout -- stopping the "contagion" of…
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The ‘Naked’ Truth — Short sellers are unsung financial heroes
At the peak of the real estate boom, there was one group of individuals who said the bubble was about to pop. They pointed to…
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Lehman bankruptcy: In capitalism, failure is not a dirty word
My reaction to Lehman Brothers' declaring of Chapter 11 bankruptcy and the refusal of Treasury Secretary Hank Paulson and others to take extraordinary Bear…
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Uproar over Palin Fannie Mae comment is really the media’s ‘gaffe’
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Fannie and Freddie’s government ‘takeover’ — truth in advertising at long last
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Thanks to Brad Beckstead, more entrepreneurs will have their day in court
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Sarbanes-Oxley — Loved By Countrywide and Mozilo, Albatross to Legit Investors and Entrepreneurs, Challenged in Court — response to Jane Bryant Quinn-
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It’s the (mixed) economy, Stupid. Berlau in Economist.com debate
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Frank bill mandates credit rating agencies to repeat subprime mistakes
Due to their failures in the subprime mess, it has long been expected that Congress would take up regulation of the credit rating agencies to…
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The HSA Revolution That’s Already Here
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‘Kelo’ Property Rights Protections gutted from housing bill (revised and corrected)
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GSE Bailout Contains Fingerprint Registry!!
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Fingerprint registry in Senate housing bill — Battle moves to House
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Fannie-Freddie warnings from Fred Smith in 2000 and beyond
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Fingerprint Registry goes to Senate Floor — likely today
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