« Previous |
1 - 20 of 23
|
Next »
Number of results to display per page
Search Results
2. Fannie, Freddie, and the Subprime Mortgage Market
- Author:
- Mark A. Calabria
- Publication Date:
- 03-2011
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The recent financial crisis was characterized by losses in nearly every type of investment vehicle. Yet no product has attracted as much attention as the subprime mortgage.
- Topic:
- Economics, Government, Markets, and Financial Crisis
- Political Geography:
- United States
3. The Case for Auditing the Fed Is Obvious
- Author:
- Arnold Kling
- Publication Date:
- 04-2010
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Recently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. It has more than doubled its balance sheet, paid interest to banks on reserves held as deposits with the Fed, made decisions about which institutions to prop up and which should be allowed to fail, invested in assets that expose taxpayers to large losses, and raised questions about how it will avoid inflation despite an unprecedented increase in the monetary base.
- Topic:
- Economics, Government, Political Economy, Politics, and Financial Crisis
- Political Geography:
- United States
4. High-Speed Rail Is Not "Interstate 2.0"
- Author:
- Randal O'Toole
- Publication Date:
- 09-2009
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The administration has likened President Obama's high-speed rail plan to President Eisenhower's Interstate Highway System. Yet there are crucial differences between interstate highways and high-speed rail. First, before Congress approved the Interstate Highway System, it had a good idea how much it would cost. In contrast, Congress approved $8 billion for high-speed rail without knowing the total cost, which is likely to be at least $90 billion.
- Topic:
- Energy Policy, Government, and Infrastructure
- Political Geography:
- United States
5. All the President's Mandates: Compulsory Health Insurance Is a Government Takeover
- Author:
- Michael F. Cannon
- Publication Date:
- 09-2009
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The most hazardous health reform measure before Congress is not the so-called "public option," but proposals to make health insurance compulsory via an individual or employer mandate. Compulsory health insurance could require nearly 100 million Americans to switch to a more expensive health plan and would therefore violate President Barack Obama's pledge to let people keep their current health insurance. In particular, the legislation before Congress could eliminate many or all health savings account plans. Making health insurance compulsory would also spark an unnecessary fight over abortion and would enable government to ration care to those with private health insurance.
- Topic:
- Government, Health, and Markets
- Political Geography:
- United States and America
6. A Fork in the Road: Obama, McCain, and Health Care
- Author:
- Michael Tanner
- Publication Date:
- 07-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Healthcare reform will be one of the top issues of the 2008 presidential election. In the face of widespread public demand for changes in the U.S. health care system, both Barack Obama and John McCain have offered detailed proposals for reform.
- Topic:
- Government, Health, and Politics
- Political Geography:
- United States
7. Asset Bubbles and Their Consequences
- Author:
- Gerald P. O'Driscoll Jr.
- Publication Date:
- 05-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- In the past, the federal government has introduced moral hazard in the banking system through deposit insurance. Banks underpriced risk because of the federal guarantee that backed deposits. After banking crises in the 1980s and 1990s, deposit insurance was put on a sound basis and that source of moral hazard was mitigated. In its place, monetary policy has become a source of moral hazard. In acting to counter the economic effects of declining asset prices, the Federal Reserve has come to be viewed as underwriting risky investments. Policy pronouncements by senior Fed officials have reinforced that perception. These actions and pronouncements are mutually reinforcing and destructive to the operation of financial markets. The current financial crisis began in the subprime housing market and then spread throughout credit markets. The new Fed policy fueled the housing boom. Refusing to accept responsibility for the housing bubble, the Fed's recent actions will likely fuel a new asset bubble. The cumulative effects of recent monetary policy undermine the case for free markets.
- Topic:
- Economics, Government, and Markets
- Political Geography:
- United States
8. FASB: Making Financial Statements Mysterious
- Author:
- T.J. Rodgers
- Publication Date:
- 08-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Since the passage of the Sarbanes-Oxley Act in 2002, the Financial Accounting Standards Board has passed rules that it promises will make corporate accounting more transparent. In fact, its revised Generally Accepted Accounting Principles have made it difficult for investors — or even CEOs — to understand a company's financial report.
- Topic:
- Economics, Government, and Markets
- Political Geography:
- United States
9. Freddie Mac and Fannie Mae: An Exit Strategy for the Taxpayer
- Author:
- Arnold Kling
- Publication Date:
- 09-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The Fannie Mae-Freddie Mac crisis may have been the most avoidable financial crisis in history. Economists have long complained that the risks posed by the government-sponsored enterprises were large relative to any social benefits.
- Topic:
- Economics, Government, and Financial Crisis
- Political Geography:
- United States
10. Rails Won't Save America
- Author:
- Randal O'Toole
- Publication Date:
- 10-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Rising gas prices and concerns about greenhouse gases have stimulated calls to build more rail transit lines in urban areas, increase subsidies to Amtrak, and construct a large-scale intercity high-speed rail system. These megaprojects will cost hundreds of billions of dollars, but they won't save energy or significantly reduce greenhouse gas emissions.
- Topic:
- Development, Economics, and Government
- Political Geography:
- United States
11. Does Barack Obama Support Socialized Medicine?
- Author:
- Michael F. Cannon
- Publication Date:
- 10-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Democratic presidential nominee Sen. Barack Obama (IL) has proposed an ambitious plan to restructure America's health care sector. Rather than engage in a detailed critique of Obama's health care plan, many critics prefer to label it "socialized medicine." Is that a fair description of the Obama plan and similar plans? Over the past year, prominent media outlets and respectable think tanks have investigated that question and come to a unanimous answer: no.
- Topic:
- Economics, Government, Health, and Markets
- Political Geography:
- United States
12. How Did We Get into This Financial Mess?
- Author:
- Lawrence H. White
- Publication Date:
- 11-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- As policymakers confront the ongoing U.S. financial crisis, it is important to take a step back and understand its origins. Those who fault "deregulation," "unfettered capitalism," or "greed" would do well to look instead at flawed institutions and misguided policies. The expansion in risky mortgages to under qualified borrowers was encouraged by the federal government. The growth of "creative" nonprime lending followed Congress's strengthening of the Community Reinvestment Act, the Federal Housing Administration's loosening of down-payment standards, and the Department of Housing and Urban Development's pressuring lenders to extend mortgages to borrowers who previously would not have qualified.
- Topic:
- Economics and Government
- Political Geography:
- United States
13. Is the Gold Standard Still the Gold Standard among Monetary Systems?
- Author:
- Lawrence H. White
- Publication Date:
- 02-2008
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Critics have raised a number of theoretical and historical objections to the gold standard. Some have called the gold standard a “crazy” idea. The gold standard is not a flawless monetary system. Neither is the fiat money alternative. In light of historical evidence about the comparative magnitude of these flaws, however, the gold standard is a policy option that deserves serious consideration.
- Topic:
- Economics and Government
- Political Geography:
- United States
14. What Can the United States Learn from the Nordic Model?
- Author:
- Daniel Mitchell
- Publication Date:
- 11-2007
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Some policymakers in the United States and Europe argue that it is possible to enjoy economic growth and also have a large welfare state. These advocates for bigger government claim that the so- called Nordic Model offers the best of both worlds. This claim does not withstand scrutiny. Economic performance in Nordic nations is lagging, and excessive government is the most likely explanation. The public sector in Sweden, Denmark, Norway, Finland, and Iceland consumes, on average, more than 48 percent of economic output. Total government outlays in the United States, by contrast, are less than 37 percent of gross domes- tic product. Revenue comparisons are even more striking. Tax receipts average more than 45 per- cent of GDP in Nordic nations, a full 20 percent- age points higher than the aggregate tax burden in the United States.
- Topic:
- Economics and Government
- Political Geography:
- United States and Europe
15. Responding to the Threat of Smallpox Bioterrorism: An Ounce of Prevention Is Best Approach
- Author:
- Veronique de Rugy and Charles V. Peña
- Publication Date:
- 04-2002
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The threat of direct terrorist attack against the United States proved to be real. And the subsequent anthrax cases point to the possibility of a future bioterrorist attack, including use of the deadly smallpox virus. The nature of terrorism is such that it is impossible to accurately predict the probability of such an attack, but the potential consequences are catastrophic. Therefore, it is a serious threat that deserves serious attention.
- Topic:
- Foreign Policy and Government
- Political Geography:
- United States and Europe
16. Fighting the War against Terrorism: Elite Forces, Yes; Conscripts, No
- Author:
- Doug Bandow
- Publication Date:
- 04-2002
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- The United States possesses the most powerful military on earth, one that has proved its potency in ousting the Taliban from power in Afghanistan. Yet, even as the military was gearing up to perform so well, some people were calling for a return to conscription or, more dramatically, for institution of mandatory national service for all young people.
- Topic:
- Foreign Policy and Government
- Political Geography:
- Afghanistan, United States, Europe, and Taliban
17. Old Folly in a New Disguise
- Author:
- Gary T. Dempsey
- Publication Date:
- 03-2002
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Since September 11, 2001, there have been calls from various quarters to embrace nation building as a tool for combating terrorism. The logic behind the idea is that “good” states do not do “bad” things, so Washington should build more “good” states. That idea, however, relies on several dubious assumptions—for example, that embarking on multiple nation-building missions will reduce the potential for anti-American terrorism. If anything, nation building is likely to create more incentives, targets, and opportunities for terrorism, not fewer. The nation-building idea also draws on false analogies with the past. For example, some people assert that Europe's experience under the Marshall Plan can be readily duplicated in a whole host of countries and that, with enough economic aid, trained bureaucrats, and military force of arms, “bad” states anywhere can be transformed into open, self-sustaining, peaceful states.
- Topic:
- Foreign Policy, Government, and Terrorism
- Political Geography:
- United States, America, Europe, and Washington
18. Making the World Safer for Incumbents: The Consequences of McCain-Feingold-Cochran
- Author:
- John Samples
- Publication Date:
- 03-2001
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Sens. John McCain (R-Ariz.) and Russell Feingold (D-Wis.), joined by Sen. Thad Cochran (R-Miss.), have introduced legislation adding new regulations on campaign finance. Their proposed law bans “soft money” going to political parties, restricts advertising by for-profit corporations and labor unions, and greatly increases the ambit of federal election law.
- Topic:
- Government and Politics
- Political Geography:
- United States
19. Fiscal Policy Report Card on America's Governors: 2000
- Author:
- Stephen Moore and Stephen Slivinski
- Publication Date:
- 02-2001
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- This report presents the findings of the Cato Institute's fifth biennial fiscal policy report card on the nation's governors. The grading mechanism is based on purely objective measures of each governor's fiscal performance. Those governors with the most fiscally conservative records— the tax and budget cutters—receive the highest grades. Those who have increased spending and taxes the most receive the lowest grades.
- Topic:
- Government
- Political Geography:
- United States and America
20. "Big Oil" at the Public Trough? An Examination of Petroleum Subsidies
- Author:
- Ronald J. Sutherland
- Publication Date:
- 02-2001
- Content Type:
- Policy Brief
- Institution:
- The Cato Institute
- Abstract:
- Critics of the oil industry allege that the industry receives large and unwarranted government subsidies and that rival technologies, such as those for ethanol, renewable energy, and energy efficiency, deserve compensating government preferences. The evidence indicates that, on balance, the oil industry is not a net beneficiary of government subsidies. The facts point in the opposite direction. The oil industry is more harmed than helped by government intervention in energy markets.
- Topic:
- Environment, Government, and Industrial Policy
- Political Geography:
- United States