GOP Debate: Bring Back The CNBC Moderators

GOP Presidential contenders struggled with substantive questions during last week's debate. [Credit: ibtimes.com

GOP Presidential contenders fumbled substantive questions during last week’s debate. [Credit: ibtimes.com]

Donald Trump wants a piece of the Keystone Pipeline.

The issue didn’t come up during last week’s GOP debate, so Trump didn’t have the chance to elaborate on his declaration that he would have approved the project only if the Canadian company forked over 25 percent of its profits.

“I want a piece of the deal,” Trump told Bret Baier of Fox News.  “When I say I want a piece, I’m now representing our country the way I would represent myself.” Continue reading

A Modest (And Potentially Bipartisan) Obamacare Proposal

Here are three changes Congress should make to Obamacare: 1) no cancellations; 2) no bailouts; 3) no tax on the uninsured. [Credit: thinkquest.org]

Here are three changes Congress should make to Obamacare: 1) no cancellations; 2) no bailouts; 3) no tax on the uninsured. [Credit: thinkquest.org]

Here’s a crazy idea: Republicans and at least some Democrats say they support making changes to Obamacare; why doesn’t Congress give voters a pleasant surprise and change it?

These changes would be politically popular, relatively modest and enjoy at least some bipartisan support. Although the prevailing political climate makes it hard for lawmakers to do anything of substance, making the health care law more friendly to consumers and less accommodating to corporate interests would appeal to voters across the spectrum. Continue reading

Could A Wealth Tax Solve the Problem of Government Debt?

A recent IMF report suggests that this man's enormous wealth might help resolve the government's debt problem. [Credit: NY Post]

A recent IMF report suggests that this man’s enormous wealth might help resolve the government’s debt problem. [Credit: NY Post]

The International Monetary Fund (IMF) recently reported that European governments could reduce their debt back to pre-Great Recession levels by confiscating 10 percent of the wealth held by their richest citizens. IMF isn’t recommending that, of course.

They’re just sayin’. Continue reading

Richmond Seizure Program: Dangerous Idea From a Dangerous City

Richmond (CA) has a dangerous idea: unconstitutionally seizing private investments.  (Credit: popphoto.com)

Richmond (CA) has a dangerous idea: unconstitutionally seizing private investments. (Credit: popphoto.com)

Richmond (CA) once was ranked among the nation’s most dangerous cities.  If city fathers have their way, it will become the most dangerous city for residential mortgage investors. Continue reading

Fed Up: Judge Strikes Down Federal Reserve on Swipe Fees

The Fed holds all the cards when it sets a policy.  Nobody bothered telling that to a federal judge, who last week struck down a Fed regulation on debit card swipe fees.

The Fed holds all the cards when it sets policy. Nobody bothered telling that to a federal judge, who last week struck down a Fed regulation on debit card swipe fees.

When it comes to bailouts, monetary policy, and banking regulation, the Federal Reserve has the last word. No one – not the President, not Congress, not anyone – stops the Fed from doing what it has determined to do. Until last week. Continue reading

The Next Bailout: Seizing Investments for “Public Use?”

 

The government seized Susette Kelo's house for "economic development."  Will the next bailout involve government seizure of private property?  [Credit: money.cnn.com]

The government seized the land on which Susette Kelo’s house once stood.  Will the next bailout involve government seizure of private investments for “public use?” [Credit: money.cnn.com]

Thought you’d heard the last of government bailouts? Think again. The Federal Reserve Bank of New York, which played a central role in the legendary bailouts of 2008 and beyond, has published a piece calling on federal, state and local governments to join forces in what could be the most far-reaching bailout of all time. And here’s the kicker: it is all benefit and no cost. No, really. Continue reading