It could also give regulators even more power to misuse.
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But once he got into the Obama Cabinet he signed on to the President’s policy of trying to spark economic growth through massive injections of capital and artificially lower interest rates.
So before the central bankers start to dismantle the admittedly flawed LIBOR system, they should address the more pressing problem of ensuring that government regulators who already have wide oversight over the international banking marketplace do their jobs properly with the rules they have before any more powers are handed over to them.
However, it is more likely that will prove too difficult so another round of rule making and power grabbing is in the works. It’s an ill wind that blows nobody good.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
Was the President done in by the economy, or by the politics of the economy?