Financial Services

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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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The MetLife building is seen in New York, March 8, 2010. AIG is selling its foreign life insurance unit to MetLife Inc for about $15.5 billion, its second major asset sale in a week as it raises funds to repay a $182.3 billion U.S. government bailout. REUTERS/Shannon Stapleton

Bravo to MetLife for its legal challenge to the power-hungry bureaucrats of the Financial Stability Oversight Council. Can such a committee correctly foresee the future so it can control “systemic risk”? That is exceptionally unlikely.

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What really caused the financial crisis? Peter Wallison argues it was housing finance policy and without changes, it could happen again.

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Drawing from his new book, “Hidden in Plain Sight,” Peter Wallison contends that the 2008 US financial crisis was caused by government housing policies, not by insufficient regulation of the financial system or Wall Street risk taking.

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Hidden in Plain Sight

“Hidden in Plain Sight” presents the compelling narrative that government housing policies caused the US financial crisis, challenging the Dodd-Frank Act and the claim that the financial crisis was caused by insufficient regulation.

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There is a constant drum beat for additional regulation of asset managers, but where is the market failure?

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In 2015, real estate prices will continue to increase while the Fed continues artificially low interest rates, and banks will succumb to the eternal real estate temptation once again.

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The Dodd-Frank Act favors big banks and cities. Congress should amend it to help smaller banks compete in the new financial marketplace and prevent capital flight from small communities.

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