November 4, 2009
Rethink the Housing Tax Credit: Stimulus Plans Should Think Past the Needs of Special Interest
By Ronald D. Utt Ph.D.
(WebMemo #2680)
Replacing the expiring tax credit with a new one for which most members of America's financial elite would be eligible is a costly and unnecessary ...

September 8, 2009
How to Protect Consumers in the Financial Marketplace: An Alternate Approach
By David C. John
(Backgrounder #2314)
The Treasury Department has proposed consolidating the existing consumer protection divisions of the various federal financial regulatory agencies into a new and powerful Consumer Financial ...

September 1, 2009
Will Obama's "Livability" Program Bring Britain's "Hobbit Homes" to America?
By Ronald D. Utt, Ph. D.
(WebMemo #2601)
Shortly after taking office President Obama announced his intention to develop federal policies to induce states and local communities to embrace "smart growth" land use ...

July 30, 2009
House Executive Pay Legislation Puts Pay Czar's Boot in the Door
By David M. Mason
(WebMemo #2570)
The Obama Administration appointed a "pay czar" to oversee compensation at firms receiving substantial government backing. Regrettably, the Administration did not stop with government-aided companies ...

June 15, 2009
Republicans' Financial Regulatory Reform Plan a Good Start
By David C. John
(WebMemo #2484)
The House Republican financial regulation plan contains a number of key provisions that Congress should carefully consider in the coming weeks.

June 8, 2009
Financial Systemic Risk Regulators: Congress Is Asking the Wrong Questions
By David C. John
(WebMemo #2471)
Congress may be about to create a new financial regulator without fully understanding exactly what problem it is supposed to solve or how the new ...

May 8, 2009
Bank Stress Tests: Green Light for Markets
By David C. John
(WebMemo #2429)
Now that there is clear public information about the conditions at the largest U.S. banks, it is time to return their control to the private ...

April 27, 2009
Mortgage Cramdowns: Problems with Involving Bankruptcy Judges
By Andrew M. Grossman and David C. John
(WebMemo #2409)
The mortgage cramdown proposal would prolong and worsen the banking crisis, delaying economic recovery.

March 25, 2009
Geithner's Troubling Plan for Troubled Assets
By James L. Gattuso and David C. John
(WebMemo #2360)
Treasury Secretary Timothy Geithner yesterday released details on his proposal for removing toxic assets from the balance sheets of banks and other financial institutions. Substantively, ...

February 25, 2009
Bankruptcy Mortgage Cramdowns Would Hurt Housing Market
By David C. John
(WebMemo #2310)
Mortgage cramdowns would further destabilize an already damaged housing market while increasing mortgage costs for future borrowers.

February 25, 2009
12 Problems with the Obama Mortgage Stability Initiative Plan
By Ronald D. Utt, Ph.D., and David C. John
(WebMemo #2311)
President Obama's Homeowner Affordability and Stability Plan is unlikely this plan will provide any relief—short-term or long-term—to the beleaguered housing market.

February 12, 2009
Obama's Bank Bailout Plan: Not Ready for Prime Time
By David C. John and James L. Gattuso
(WebMemo #2291)
The Administration's financial bailout strategy announced by Timothy Geithner, despite some positive elements, is filled with incomplete and unsound policy proposals financed by trillions of ...

January 30, 2009
The Global Government Debt Bubble Threatens the Economy
By J. D. Foster, Ph.D.
(WebMemo #2257)
The expanding federal deficit is likely to raise interest rates significantly for government debt, thereby increasing interest costs for generations to come.

January 21, 2009
Key Questions for Timothy Geithner, Nominee for Treasury Secretary
By J. D. Foster, Ph.D.
(WebMemo #2232)
The United States Senate will soon consider the nomination of Timothy Geithner to be Treasury secretary of the United States. The following are a few ...

January 16, 2009
Fiscal Challenges for Government at All Levels: How Economic Stimulus Drives Up Deficit and Debt
By William W. Beach
(WebMemo #2227)
The 111th Congress begins its work with a war against an enemy that is as intractable as it is illusive and with an economic crisis ...

January 14, 2009
TARP: Frank's Bill Underscores Weaknesses of This Bailout Program
By David C. John
(WebMemo #2223)
Efforts by Chairman Barney Frank of the House Financial Services Committee to "improve" the Treasury's Troubled Asset Relief Program (TARP) in the TARP Reform and ...

January 13, 2009
Reforming Financial Regulation: A Memo to President-elect Obama
By David C. John and David M. Mason
(Special Report #44)
President-elect Obama, during the campaign, you recognized the need to update America's outdated regulatory framework to meet the needs of the 21st century. You laid ...

January 6, 2009
Economic Stimulus: Dos and Don'ts
By Nicola Moore
(WebMemo #2187)
The first order of business for the President-elect and the new Congress is to get the American economy back on track. To that end, Democratic ...

November 14, 2008
TARP and the Treasury: Time to Allow Markets to Work
By James L. Gattuso, David C. John, and J. D. Foster, Ph.D.
(WebMemo #2131)
Treasury Secretary Henry Paulson recently announced yet another change in direction of the “Troubled Asset Relief Program” (TARP), sowing more uncertainty and confusion in the ...

October 24, 2008
How to Successfully Stimulate the Economy
By William W. Beach
(WebMemo #2113)
Serious work by the Congress in tax, energy, and spending policy will create greater predictability for investors and business owners and assure workers that they ...

October 23, 2008
Treasury's Bank Capital Purchase Program: Avoiding a Dangerous Legacy
By David C. John
(WebMemo #2110)
Last week, the Treasury Department announced the direct purchase of equity stakes in U.S. banks in order to increase the capital levels of those institutions. ...

October 23, 2008
Why an Independent Financial Markets Commission Is Needed Now
By David M. Mason
(WebMemo #2112)
An Independent Commission on Financial Markets—similar to the 1987 Brady Commission, but chartered by Congress—could provide Congress and the next Administration with the information necessary ...

October 17, 2008
Gordon Brown's Financial Folly: The Global Economy Does Not Need More Regulation
By Brett D. Schaefer
(WebMemo #2107)
Gordon Brown's proposal to create a new Bretton Woods system with greatly enhanced powers over international financial markets may be aimed at boosting his flagging ...

October 2, 2008
SEC Makes Mark-to-Market Accounting Markedly Better
By David C. John and James L. Gattuso
(WebMemo #2095)
The SEC and FASB clarifications on mark-to-market accounting rules both address shortcomings in the application of the existing rule and will help to ensure that ...

October 1, 2008
Action on Financial Rescue Plan Urgently Needed
By Stuart M. Butler, Ph.D., and Edwin Meese III
(WebMemo #2094)
A revised so-called "bailout" package is being readied for a Senate vote and subsequent action in the House. Action on this rescue package is urgently ...

September 29, 2008
The Bailout Package: Vital and Acceptable
By Stuart M. Butler, Ph.D., and Edwin Meese III
(WebMemo #2091)
Financial markets in the United States and around the world face a dire emergency requiring urgent and decisive action. The package of emergency steps now ...

September 28, 2008
An Initial Review of the Bailout Agreement
By Alison Acosta Fraser and Todd F. Gaziano
(WebMemo #2089)
Administration and congressional negotiators reached agreement early Sunday on a package of actions to address the alarming financial situation facing the U.S. economy.  Although several ...

September 26, 2008
The Housing Bailout: Constitutional Infirmities Remain, but a Ray of Hope
By Andrew M. Grossman, Robert Alt, Todd Gaziano
(WebMemo #2086)
Congress can put together a plan that does not violate our fundamental law. Those who, for reasons of economic policy, favor the leadership/White House proposal ...

September 24, 2008
All Deliberate Speed: Constitutional Fidelity and Prudent Policy Go Hand in Hand in Fixing the Credit Crisis
By Todd F. Gaziano and Andrew M. Grossman
(WebMemo #2079)
For sound policy and constitutional reasons, Congress should not recess until it acts on a solution to the credit crisis, but it should also be ...

September 23, 2008
Financial Cleanup Steps for Congress—The Next Steps and Beyond
By J. D. Foster, Ph.D.
(WebMemo #2075)
Congress is working toward passage of legislation requested by the Administration that would create a new financial entity as part of the federal government to ...

September 22, 2008
The Financial Bailout (and the New Resolution Trust Corp.) Must Restore the Markets and Protect the Taxpayer
By David C. John
(WebMemo #2072)
The House and Senate must have two objectives when putting together their versions of the financial bailout proposal made by the Treasury and Federal Reserve: ...

September 19, 2008
What Should Be Done About the Financial Markets?
By Stuart M. Butler, Ph.D., Alison Acosta Fraser, and James L. Gattuso
(WebMemo #2070)
Lawmakers have just been presented with the outline of an expansive and potentially costly package of proposals said to be needed to bring a permanent ...

September 19, 2008
First Thoughts on the New Resolution Trust Corporation
By David John and J.D. Foster, Ph.D.
(WebMemo #2069)
Perhaps the most important and most controversial measure amidst the financial turmoil is the suggestion that Congress create an entity similar to the Resolution Trust ...

September 9, 2008
Fannie and Freddie: Time to Clean up the Mess and Move Forward
By J.D. Foster, Ph.D., David A. John, and Stephen C. Keen
(WebMemo #2055)
Decades of policy mistakes creating and protecting Fannie Mae and Freddie Mac finally led the predicted system risk to become a dangerous financial reality. However, ...

July 15, 2008
Congress Should Fix the Fannie Mae and Freddie Mac Mess
By David C. John
(WebMemo #1993)
Sunday's announcement by the Bush Administration and the Federal Reserve seems to have cooled the immediate crisis concerning Fannie Mae and Freddie Mac. However, their ...

April 4, 2008
Economic Pessimism: No Excuse for Protectionism
By Anthony B. Kim
(WebMemo #1883)
Especially in a presidential election year, Congress must take a long-term view focused on strengthening economic fundamentals.

April 3, 2008
Subprime Mortgage Problems: A Quick Tour Through the Rubble
By Ronald D. Utt
(WebMemo #1881)
Proposals for new federal spending and credit programs would greatly expand the role of government in the economy while doing little to alleviate the distress ...

March 31, 2008
The Housing and Financial Markets:
Congressional Action Could Disrupt Market Correction
By J.D. Foster
(WebMemo #1874)
Congressional action could prolong and exacerbate the current situation.

March 31, 2008
The Isakson Tax Credit: Another Approach that Won't Fix the Mortgage Mess
By David C. John
(WebMemo #1873)
Unfortunately, there are no simple or quick solutions to a highly complex financial situation.

March 24, 2008
Frank-Dodd Approach Won't Fix the Mortgage Mess
By David C. John
(WebMemo #1864)
The most discussed proposals in Congress would make matters worse over the long term.

March 20, 2008
Preventing the Next Subprime Crisis
By David C. John
(WebMemo #1862)
If implemented properly, recommendations made by the President's Working Group on Financial Markets will help to prevent the next subprime mortgage crisis.

March 18, 2008
The Fed Engages as Economy Wavers
By J.D. Foster, Ph.D. and David C. John
(WebMemo #1857)
The health of the economy will depend significantly on the actions of the Federal Reserve in the days and weeks ahead.

February 7, 2008
President's Homeownership Proposals Should Be Sent Back to the Drawing Board
By Ronald D. Utt, Ph.D.
(WebMemo #1802)
Expanding the federal government's role in the mortgage market would encourage more irresponsible behavior.

December 13, 2007
HOPE NOW: One Step to Resolve the Subprime Mortgage Crisis
By David C. John and Alison Acosta Fraser
(WebMemo #1742)
Treasury Secretary Henry Paulson’s “HOPE NOW” is a far better way to deal with the hundreds of billions of dollars worth of subprime mortgages than ...

September 10, 2007
The Subprime Mortgage Situation: Bailout Not the Right Solution
By Ronald D. Utt, Ph.D., and David C. John
(WebMemo #1604)
The government's response should be limited to dealing with the immediate problem and should not become a vehicle for expanded housing programs or pushing other ...