Tuesday, May 17, 2011

Economic News

Government Maxes Out Its Credit Line
“The United States slammed up against its $14.3 trillion borrowing limit Monday, even as lawmakers continue to squabble over whether to lift the debt ceiling.” (New York Daily News)

Ceilings are made for lifting.

Timely Classic Article
“Our Presidents and the National Debt” by Burton W. Folsom Jr.

Wall Street Banks Under Investigation in Mortgage Debacle
“The New York attorney general has requested information and documents in recent weeks from three major Wall Street banks about their mortgage securities operations during the credit boom, indicating the existence of a new investigation into practices that contributed to billions in mortgage losses.” (New York Times)

Don’t forget their accomplice: the U.S. government.

Timely Classic Article
“The Subprime Crisis Shows that Government Intervenes Too Little in Financial Markets? It Just Ain’t So!” by Lawrence H. White

Bernanke Explores Government R&D Financing
“The chairman of the Federal Reserve, Ben S. Bernanke, said on Monday that the United States and other countries needed to better understand the most effective ways to use government money for research and development projects.” (New York Times)

Has it occurred to him that government should have no role?

Timely Classic Article
“Technology, Progress, and Freedom” by Edward W. Younkins

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