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Letter: We must learn from history or repeat it

The Biden administration has flooded our economy with borrowed/printed money. Their economic plan is following the same path as FDR s New Deal. The government schools teach that FDR s policies worked

Lee Ohanian

Lee E. Ohanian is a senior fellow (adjunct) at the Hoover Institution and a professor of economics and director of the Ettinger Family Program in Macroeconomic Research at the University of California, Los Angeles (UCLA). He is associate director of the Center for the Advanced Study in Economic.

Repeating the New Deal s Old Mistakes - Foundation for Economic Education

Reducing Banks Incentives for Risk-Taking Via Extended Shareholder Liability

It has long been understood that deposit guarantees and too-big-to-fail (TBTF) policies create a moral-hazard problem they incentivize banks to take on too much risk by shielding depositors and shareholders from losses in excess of equity (“left-tail” outcomes) in American banking.1 Congress passed the Federal Deposit Insurance Corporation Improvement Act (FDICIA) in 1991 to mitigate the moral-hazard problem by restricting forbearance and implicit subsidies for undercapitalized banks.

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