Financial Services

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Americans today are about as likely as those in the past to report that they have a work-limiting disability, according to Census Bureau data. For instance, 5.6% of Americans ages 35-44 reported having a work-limiting disability in 1984, while in 2014 that figure was 5.4%. Likewise, self-reported measures of overall health have improved and workplace injuries have fallen.

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The Financial Stability Oversight Council cannot possibly fulfill its assignment from Congress.

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We’re joined this week by AEI Financial Policy Fellow Peter Wallison, who walks us through what led up to the 2008 financial crisis, who is to blame, and what needs to happen (or not happen) to prevent another crash.

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DATE IMPORTED:February 05, 2015Goldman Sachs trader Sean Spain works on the floor of the New York Stock Exchange February 5, 2015. REUTERS/Brendan McDermid

Big government may be the best thing to happen to the big banks — and they know it.

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With the latest edition of the National Mortgage Risk Index (NMRI) showing that bad practices are coming back, the Wealth Building Home Loan is a safer alternative to the traditional 30-year mortgage.

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DATE IMPORTED:September 09, 2014U.S. Federal Reserve Board member Daniel Tarullo listens to questions from senators during his testimony about Wall Street reform before a Senate Banking Committee hearing on Capitol Hill in Washington September 9, 2014. REUTERS/Jonathan Ernst

Recent statements by senior Federal Reserve officials show that the agency is stepping up efforts to investigate and ultimately regulate what they call the “shadow-banking system.” As the regulators define that term, it is nothing less than capital and securities markets—the industries principally responsible for the growth of the U.S. economy over the past 40 years.

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The outpouring of negative reviews of Hidden in Plain Sight were nothing more than a coordinated effort by the Left to suppress the book.

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A bus and pedestrian pass an advertisement for the Apple iPhone 6 in north London January 28, 2015. Shares in European companies that supply parts to Apple Inc leapt on Wednesday after the tech giant reported the largest profit in corporate history, driven by record sales of iPhones and strong demand in China. REUTERS/Neil Hall

Apple recorded record profits this quarter, and now Washington wants some. Politicians and lobbyists seem to be frustrated by how expertly Apple navigates the tax codes, but that doesn’t mean they won’t try to take a piece for themselves.

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Paul Kupiec and Peter Wallison raise questions about legal support for the FDIC’s Single Point of Entry (SPOE) bank resolution strategy, whether the strategy can be used for resolving the largest failed banks, and the economic consequences of using the SPOE approach to attenuate the systemic risk of a large-bank failure.

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Congress should investigate whether the FSOC and Fed believe their authority to regulate the shadow banking system derives from FSB directives; if so, language in Title VIII of Dodd-Frank could then permit them to issue the necessary regulations.

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