Page 5 - Peter Wallison News Today

SCOTUS has a chance to rule in out-of-control bureacrats.

When Justice John Paul Stephens issued his 1984 opinion in Chevron U.S.A. v. National Resources Defense Council, he started what legal scholar Gary Lawson later called “nothing less than a bloodless constitutional revolution.”

By Chris Griesedieck I don't know who Peter Wallison is, but he does not seem to understand the consequences of re-implementing Glass-Steagall. Or he does, and is willfully ignoring them to irritate me and appease Jamie Dimon. Anyway, Glass-Steagall was a Depression-era, federal regulation (fully repealed under the Clinton administration after years of chipping away by banking industry lobbyists)…

Breaking up the banks is a simple answer to a complex problem. And like many simple answers, it is the wrong one.

Criticism of the Financial Stability Oversight Council (FSOC) has been quietly building inside the financial industry.  Most of the criticism has centered on the FSOC’s lack of transparency and clear standards with respect to designating large financial firms as systemically important financial institutions, the so-called SIFIs.

The biggest mistake that Congress and the next president could make about Fannie Mae and Freddie Mac is to leave them alone or let them get away with only minor changes. While both again seem temporarily stable after their stock took another sharp drop and failure seemed moments away, the calm is deceptive. The two have now seen the value of their stocks drop by about 90 percent since January.

The financial reform proposals now pending in the Senate would actually make crises and bailouts more—rather than less—likely.

On April 28, the Kansas House of Representatives failed to override Gov. Laura Kelly's veto of legislation aimed at protecting girls and women's athletics from inherently unfair competition from transgender "females."

Senator McConnell’s defense of the First Amendment was a remarkable contrast to President Obama, who has attempted to restrict political speech rights in one example after another during his administration.

President Joe Biden has projected a sense of normalcy since the FBI recovered classified documents from Mar-a-Lago, while avoiding commenting on the issue.