Competitive Enterprise Institute
Director of the Center for Investors and Entrepreneurs at the Competitive Enterprise Institute
PROFILE
John Berlau
Guest
FROM John Berlau
Which Way, L.A.?
Will the Senate and Congress Pass the Debt-Ceiling Deal? Late last night, the President and Congressional leaders announced a debt-ceiling deal . The trade-off is deficit reduction that relies entirely on spending cuts and no increases in taxes. It still may not pass both houses, but here's how it stands. Almost no Democrats are willing to go past tomorrow's deadline without raising the debt ceiling. But a lot of Republicans are willing to risk the first default in American history. It's a dynamic that doesn't create a deal so much as it creates a "ransom." We hear what the President and leaders of Congress agreed to and what it could mean for their partisan rank and file, the American people and the global economy.
To the Point
Will the Senate and Congress Pass the Debt-Ceiling Deal? Late last night, the President and Congressional leaders announced a debt-ceiling deal . The need for last night's so-called compromise was forced by Tea Party Republicans ready to risk the first default in American history, but they still might not vote for it. The President says he had no choice but to reduce the debt with drastic cuts and no revenue, so angry liberal Democrats might not vote for it either. It's a dynamic that doesn't create a deal so much as it creates a "ransom." If it does pass, the spending cuts might further slow the economic recovery. It won't create jobs, and it lets unemployment extensions expire for 14 million Americans. We hear about the terms of the deal and what might happen if it passes — or fails.
Which Way, L.A.?
Can the US Senate Pass Finance Reform in an Election Year? In the House version of finance reform, the provision that banks hate most is an independent agency for consumer protection. It's been compared to the so-called "public option," that divided Democrats to the benefit of Republicans during the healthcare debate. But the politics of finance reform are very different.
To the Point
Can the Senate Deliver Finance Reform in an Election Year? The US Senate's next item of business is finance reform, with Democrats trying to draw up an offer Republicans can't refuse. The provision banks hate most in the House version of reform is an independent agency for consumer protection that's been compared to the so-called “public option,” that divided Democrats to the GOP's benefit during the healthcare debate. But the politics of finance reform are very different. With popular anger focused on Wall Street, should banks that are “too big to fail” be regulated or cut down to size? Should a consumer protection agency be independent or part of the Federal Reserve?
Which Way, L.A.?
Putting on the Brakes: Are Government Regulators Doing Their Job? Safe food, safe drugs, safe cars, safe airplanes -- honest deals and bank loans. The federal government doesn't rely on people doing the right thing to make sure your world is safe; they regulate that world. Congress is trying to pass new financial regulations, and Wall Street is pushing back. Now, with Toyota in the news, and regulators checking out what the company knew when about a faulty gas pedal, the whole question of regulatory effectiveness is in the spotlight again. Are regulatory agencies doing their job? Have industries gained more influence with regulators in recent years? Is the problem not enough regulation or too much?
To the Point
Putting on the Brakes: Are Government Regulators Doing Their Job? Safe food, safe drugs, safe cars, safe airplanes -- honest deals and bank loans. The federal government doesn't rely on people doing the right thing to make sure your world is safe; they regulate that world. Congress is trying to pass new financial regulations, and Wall Street is pushing back. Now, with Toyota in the news, and regulators checking out what the company knew when about a faulty gas pedal, the whole question of regulatory effectiveness is in the spotlight again. Are regulatory agencies doing their job? Have industries gained more influence with regulators in recent years? Is the problem not enough regulation or too much?
Which Way, L.A.?
President Obama Wants New Rules for Wall Street Just one day after President Obama unveiled his proposed overhaul of financial regulations, Treasury Secretary Tim Geithner was called to defend it on Capitol Hill.
To the Point
President Obama Wants New Rules for Wall Street Just one day after President Obama unveiled his proposed overhaul of financial regulations, Treasury Secretary Tim Geithner was called to defend it on Capitol Hill. Would the Federal Reserve get too much power? Could banks, insurance companies and investment houses still get “too big to fail?” Would a new agency protect financial consumers against excessive risk? Would complex derivatives still have the potential to wreak havoc? These are just some of the questions being asked about the President's overhaul of the financial system, released yesterday and already under assault. Would it prevent another financial meltdown, stifle the entrepreneurial spirit or just return to business as usual?
Recommended
To the Point
Trump plays scolder-in-chief with NATO allies At the opening of NATO’s dramatic new headquarters in Brussels today, President Trump acknowledged that Article 5 — promising that “an attack on one nation is an attack on all” -- has only been invoked one time: in the aftermath of September 11. But the President failed to provide what 27 other Alliance members have been waiting for: a re-commitment by America’s new leader to Article 5. Instead, they got a scolding.
Left, Right & Center
How was the trip? President Trump's travels got less fun as he went from the Middle East to Europe.
To the Point
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
To the Point
Will the Senate write a healthcare bill in secret? While Democrats and Republicans argue White House relations with Russia, another question is being decided behind closed doors: who gets help buying health insurance and who doesn't? We hear how the pros and cons are being shrouded in secrecy.