Rethinking Lifetime Bans for White-Collar Criminals
Prolonged bans are excessive and counterproductive.
Buybacks and Dividends Compared
Stock buybacks aren’t repeatable, consistent, growing returns of cash to shareholders.
In Defense of Capitalism
We must capably defend the call of the entrepreneur, the vitality of capital markets, and the nobility of free enterprise.
San Francisco Puts Another Nail in Its Own Coffin
For a city that already faces financial ruin, its newly passed ‘wealth tax’ could not have come at a worse time.
The Fake Controversy around Steve Mnuchin’s Fed Letter
Silly debates over whether emergency credit-facility programs should be allowed to expire — they should — distract from a more important question.
How COVID Could Become a Vulnerability for Biden in the Campaign’s Home Stretch
Conventional wisdom says the virus is a bigger problem for Trump. But if Biden promises more lockdowns, economically struggling voters could flee.
National Lockdown Aspirations: A Bridge Too Far Even for the Fed
When Fed officials make policy pronouncements on non-financial matters on which they have no expertise or authority, everyone loses.
Regulatory Overreach Ahead?
In moments of peak distress, we will see what we saw in March again, no matter what any regulator says or does.