Anthony Randazzo

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Gov. Brown, Don't Raid California's Savings to Pay Down Its Debt

Gov. Brown, Don't Raid California's Savings to Pay Down Its Debt

The special legislative session in Sacramento this week is weighing the future of California’s rainy day fund, particularly how much of it should be used for paying down the state’s debt. When they’re considering the trade-offs between saving for the

A 'Job Creation' Stimulus Is a Terrible Idea

I agree with Paul Krugman on at least one thing: the continued prospects for high unemployment in America is a bad thing. In his NYT column Monday, Krugman the Keynesian wrote: The damage from sustained high unemployment will last much

Treating Wall Street Like the Mafia

Perhaps Senate Banking Committee Chairman Chris Dodd (D-Conn.) thinks of himself as a modern day John Sherman. In 1890, Ohio Sen. Sherman set out on a mission to establish “just competition” laws and level the economic playing field. His quest

Avoiding an American Lost Decade

In February of this year, I wrote a study (co-authored with Mike Flynn) about the lessons of the Japanese “Lost Decade.” At the end of the 1980s, Japan faced a very similar situation to ours: an asset bubble burst, the

Three Guiding Principles for Reforming Wall Street

In the wake of the massive bank bailouts, nearly everyone is calling for some kind of financial regulatory system overhaul. The Obama administration has outlined what it would like to see and Congress is currently holding hearings on how to

Bailout May Be Helping to Generate Up to Half of Bank's Profits

We will never know how many, if any, of the major banks would have failed without the TARP bailout package passed a year ago. Several banks were strong-armed into taking the money. We can be reasonably sure that Citigroup and

"Too Big To Fail" Is Becoming Obama's Policy

President Obama recently reiterated his plan to fix the regulation of Wall Street and said it was time to “put an end to the idea that some firms are too big to fail.” Amen. But the president doesn’t need a

Obama's New Tax on the Poor, Just Redefined Away

During the campaign in 2008, President Obama made his tax message as clear as it could be: he wanted to tax the wealthy, and help the poor. He promised over and over that taxes on those making less than $250,000

We Can't Even Trim $1.4 Million From Our Budget

Riding the wave of the GOP’s successful push to have Congress defund Acorn, Sen. Jim DeMint (R-SC) tried to push through another prudential budget matter: killing the John Murtha-Johnstown Cambria County Airport. His effort was not as successful. On Thursday

Obama's Wall Street Regulations as Behavioral Control

As Congress prepares to move forward on financial services regulation, it’s worth taking a step back to look at the proposals for what they really are: behavioral control mechanisms. This is not to say that regulation is inherently bad. A