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OpenMarket: Cord Blomquist

  • Wayne Crews Considers the Cost of Regulation

    February 26, 2009
    From RealClearMarkets.com: Removing burdensome regulations on businesses, both large and small, hasn’t figured much into the economic recovery program thus far. But alternatives to “porkulus†and “bailout to nowhere†do exist.
  • Obama's Bankruptcy Math Has to be Wrong

    February 25, 2009
    President Obama claimed in his speech tonight:
    "For that same reason, we must also address the crushing cost of health care.

    "This is a cost that now causes a bankruptcy in America every thirty seconds."

    This number can't be true.  A bankruptcy every 30 seconds would be equal to 120 bankruptcies per hour.  Multiply that by 24 hours in a day and 365 days in a year (presuming a non-leap year), and you get 1,051,200 bankruptcies per year.

    This numbers seems a little high, even considering that 2008 was a year with a lot of a bankruptcies.  But there's a reason that number seems high.  Namely, it's not true.

    According to Zacks Investment Research:
    "During 2008, personal bankruptcies had the most significant increase since the major...
  • TARP in Pictures

    February 20, 2009
    We've talked a lot about the TARP or Troubled Assets Relief Program over the past several months here on OpenMarket.org.  But perhaps the entire thing can be summed up in this simple slide show.
  • CNBC's Rick Santelli on Obama's Mortgage Plan

    February 19, 2009






  • Obama, Waxman to Square Off on Free Speech

    February 18, 2009
    White House spokesman Ben LaBolt says President Obama "does not believe the Fairness Doctrine should be reinstated." If this is true, Mr. Obama may soon be locking horns with Henry Waxman, a powerful House Chairman.
  • Chairman Tom Price with 1,073-page Non-Stimulus Text

    February 13, 2009
    [youtube:http://www.youtube.com/watch?v=A68eWFAbClA 285 234]
  • Just How Much is $13 Trillion?

    February 12, 2009
    The magnitude of the growing stimulus package and continuing bank bailouts is truly amazing. Add those amounts to the already huge national debt and you get some stellar numbers, literally.
  • CEI Commends Sen. Judd Gregg

    February 12, 2009
    While Congress seems recklessly bent on “stimulating†this nation off an economic cliff, not just Gregg but the whole country should reject the idea that America can spend its way into prosperity.
  • Sirius XM Bankruptcy: Thank Washington for the Delay

    February 10, 2009
    Sirius XM Satellite Radio—the company born from the merger of Sirius Satelllite Radio and XM Satellite Radio—has "been working with advisers to prepare for a possible bankruptcy filing," according to the New York Times.

    Some may say that Sirius XM was never a fit business to begin with—many of their new subscribers came from the bundling of  subscriptions into the sale of new automobiles—but it's hard to say what might have been had federal regulators not delayed the merger for 18 months and then added insult to injury by subjecting them to seemingly arbitrary restrictions.

    My colleagues Wayne Crews and Ryan Young wrote about this last year at Real Clear Markets noting the conditions that the merged company...
  • Stanford Economist Blames Government for Crisis

    February 9, 2009
    on February 20th Stanford economist John B. Taylor will be publishing a book analyzing the financial collapse.  According to the book's current home on the web at Stanford's Hoover Institution's website, the book will:
    The author tells how unusually easy monetary policy helped set the crisis in motion, as interest rates at the Federal Reserve and several other central banks deviated from historical regularities. He explains monetary interaction with the subprime mortgage problem, showing how the use of these mortgages, especially the adjustable-rate variety, led to excessive risk taking. In the United States this was encouraged by government programs designed to promote home ownership, a worthwhile goal but overdone in retrospect. Looking ahead, the author suggests a set of principles to follow to prevent...

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