Newsweek: A hedge fund's greatest trade ever Nov 11, 2009
America is full of people trying to concoct fundamental differences between investments that go bad and investments that go well in order to advocate an end to free markets and more government intervention. They've already formed their conclusion and are just looking for evidence, no matter how weak. (MSNBC -- Business)
Letters for Tuesday, November 10, 2009 (1015) Nov 11, 2009
That s the point you have it, and many others don t, and could not have it without government intervention. While our state s predominant insurer actually lost money in the first quarter of 2009, the CEO was paid over $1 million in salary, another executive $900,000 and a third over $600,000. (Lihue Garden Island, HA)
Failure written into'too big' policy Nov 10, 2009
The unacceptability of the systemic impact of such failures on the financial, economic and social order necessitates government intervention in a market crisis. Thus far, the official response to the TBTF threat has been focused on unlimited government protection of big bank creditors from losses they otherwise would face from big bank failures. (Asia Times Online)
Sen. Jamie Eldridge: Health reform through a patient's eyes Nov 10, 2009
In fact, absent government intervention, there are strong market, financial, and societal incentives that make it highly likely that no basic standard of treatment will exist. After all, that young disabled man was being denied proper treatment for no other reason than to save his health insurance company money. (Wakefield Daily Item, MA)
Bailout fund plan hits hurdles Nov 10, 2009
"This is a unique sector that, when it fails, it poses such a high cost to the wider economy and damage to society that government intervention becomes essential, so the taxpayer has had no real choice but to step in to keep the system afloat," Brown said. "It cannot be acceptable to the general public that the benefits of success in the sector are reaped by the few but the costs of its failure are borne by all of us.". (CNN -- International)
'Pelosicare' Vote Is Political Suicide Nov 10, 2009
"Theres a lot of concern out there over government intervention into our economy, whether its on healthcare or energy or the banks or the autos, and that put some wind to Governor-elect [Chris] Christie and McDonnells backs, which was good. They also had positive agendas, and in New Jersey you had the added factor that Governor Jon Corzine, the incumbent, had very low approval ratings, and people wanted to make a change there. In Virginia, I think Bob McDonnell showed how a conservative can... (Newsmax)
Read the 'Cost of Freedom' recap Nov 10, 2009
This isn't about renewable energy it's about government intervention. The cap and trade that the government is trying to pass kills innovation, you have every environmental scientist, every single one, Bill Schlessinger to the CEO of Exxon Mobile that says cap and trade will do zero, zero for the environment, cost hundreds of billions of dollars, the only thing to do if you're going to do something as a carbon tax. (Fox News)
What's the Deal With "Cat Ladies"? Nov 9, 2009
Some psychiatrists say these , along with a paranoid fear of government intervention, may constitute a delusional disorder. Animal hoarding has also been viewed as an addiction, like compulsive gambling or alcoholism, or as a form of dementia. (Slate)
Hong Kong's property market: Flat out Nov 9, 2009
John Tsang, Hong Kong s usually tepid financial secretary, called in big developers to warn of government intervention if the housing market became unfair or unhealthy. On November 2nd the territory s chief executive, Donald Tsang, vowed to cool prices. (The Economist)
Historic bill on health care reform passed in U.S. Nov 9, 2009
On the other hand, they had to deal with public doubt and protest over concerns of an increasing budget deficit and government intervention the reform may bring to them. Generally speaking, the dispute has focused on two issues -- funding of the bill and public option. (Xinhuanet, China)
Virbhadra Singh, Union Steel minister Nov 9, 2009
Do you think there is a need for government intervention to check rise in steel prices. The market prices are stable and there is no need to take any kind of restrictive action. (India Times)
Majority cannot deprive the minority Nov 8, 2009
voter wrote on Nov 7, 2009 10:38 AM:" Let's take them one by one. You claim that you have a right to be free of government intervention in your life. Are you seriously claiming that the government (and the voters) have no business passing laws which seek to limit or restrain your behavior? No rules for commerce? No regulations to keep us safe from those who would wish to harm us? ". t jefferson wrote on Nov 7, 2009 10:20 AM:" v - if you can't see the rights that have been taken away by the... (Lodi News Sentinel, CA)
Flaherty Wants Canadian Banks to Bear Costs in Case of Any Future Collapse Nov 8, 2009
In the same speech, Carney said banks around the world should use their profits, which are resulting from government support and reduced competition, to boost capital instead of paying bonuses, and warned that because of government intervention, we are now awash in moral hazard. . (Bloomberg -- Canada)
House passes health care bill Nov 8, 2009
"This bill represents more than just very bad policy -- it is yet another Democrat infringement of American freedom. In just nine months, Americans have witnessed takeovers in the auto industry, takeovers of private banks, and now House Democrats have yet again taken a wrecking ball to the American ideal of independence from excessive government intervention, wresting from the private sector control of our health care system," said U.S. Rep. Trent Franks, a Republican representing Sun City and... (Phoenix Business Journal, AZ)
A downward path? Nov 6, 2009
Where are the green jobs, where the effort to keep U.S. jobs that have sustained families for decades, providing medical insurance without government intervention. As taxes increase and cap and trade looms, factories like Caterpillar are building factories in Russia and India. (Longview Daily News, WA)
First-time home buyer credit, jobless benefits both extended Nov 6, 2009
The fourth extension passed by Congress in the past 18 months would stretch federal aid to a maximum of 99 weeks, well beyond the extent of government intervention during past economic downturns. During the 1970s, the out-of-work were entitled to up to 65 weeks of assistance. (Boston Globe)
PE firms seek govt help to recover Maytas dues Nov 6, 2009
NEW DELHI: Private equity investors JM Financial and the Mauritius-based SRS Orion Investments, which invested Rs 600 crore in Maytas Properties early 2008, are seeking government intervention to recover their investment after the property firm failed to return the funds despite an arbitration award in favour of the investors ... Private equity investors JM Financial and the Mauritius-based SRS Orion Investments are seeking government intervention to recover their investment after the property... (India Times)
Jobless lifeline moves ahead Nov 6, 2009
With its maximum of 99 weeks of assistance, it goes well beyond the extent of government intervention during past economic downturns. During the 1970s, the out-of-work were entitled to up to 65 weeks of assistance. (Albany Times Union)
Brazil's Real Gains for Second Straight Day on Capital-Inflows Speculation Nov 5, 2009
7 per dollar, due to government intervention on the foreign- exchange market and increasing imports. Capital Inflows. (Bloomberg -- Latin America)
Developer Seeks Rent Subsidies for Project Nov 5, 2009
Reader CommentsAdded: Wednesday November 04, 2009 at 05:38 PM ESTgovernment funded housingLet the market place operate free from government intervention. in housing, in development of shoppping centers-TIF's. (Missourian Publishing, MO)
Quayle, Daines claim Logan Council seats Nov 5, 2009
Both were endorsed by the Independence Caucus and had run on promises to limit government intervention. Neither could be reached for comment Tuesday night. (Logan Herald Journal, UT)
Valuing Bonds, Dollar Is Crazy in World Gone Mad Nov 5, 2009
Following are examples of markets driven mad by the recent enthusiasm for government intervention. 1) Unshackled from Bondage, Unhinged from Reality. (Bloomberg -- Columnists)
Rick Berman: Health care reforms don't have to cost taxpayers trillions in government option Nov 5, 2009
The national debate over health care reform has ground to a halt, with both sides deadlocked over the scale and expense of potential government intervention. However, we can all agree on at least a few things: Too many uninsured Americans are forced into bankruptcy by accidents and diseases; too many Americans are unable to purchase individual coverage due to pre-existing conditions; too many children are unfairly denied health care because their parents choose not to pay for insurance or sign... (The News-Press -- Opinion)
Pawar admits rise in food prices a worry Nov 5, 2009
Officials point out that government intervention in import of commodities like rice or sugar would only sharply push up international prices. The import arrivals contracted were being monitored though there was a risk of these being timed with food prices touching higher levels. (India Times, India -- Intl Business)
The newest abnormal Nov 3, 2009
But we remain trapped in the same old bubble-inciting paradigm of activist central banking and government intervention ... The proponents of the new normal would tend to view extreme government intervention as a stabilizing force appropriate for a (deflationary) post-bubble landscape ... For months now, unprecedented global government intervention has spurred a stampede back into risk assets. (Asia Times Online)
Kingdom of the Netherlands—The Netherlands 2009 Article IV Consultation: Preliminary Conclusions Nov 3, 2009
Consequently, massive government intervention in the financial sector was required and lending conditions have tightened noticeably. Insurance sector profits and solvency as well as pension funds average funding ratios also dropped sharply. (IMF News)
Brokers seek tax credit spike Nov 2, 2009
Any type of government intervention should purely be a pump-priming activity, Longhofer says. If you have to keep adding water and keep adding water and keep pouring water into it, there s something wrong with the well. (Wichita Business Journal, KS)
FACTBOX-Five political risks to watch in Australia Nov 2, 2009
GOVERNMENT INTERVENTION IN THE ECONOMY. The economy weathered the crisis well, helped by government stimulus spending, but many Australians worry about the rising level of private and public debt and budget deficits. (AlertNet)
Inland Western defaults on loans, warns of more Nov 2, 2009
Although the debt markets remain tightly constricted, strong government intervention is helping to lay the foundation for recapitalizing the commercial real estate industry, an Inland Western spokesman says in a statement. We have made solid progress in refinancing our maturing debt and remain optimistic in our ability to do so going forward. (Crain's Chicago Business)
Report: Oversupply of foreclosures to drive down house prices Nov 1, 2009
The shape of the second leg down is almost completely dependent on the level of government intervention that will take place. Also, banks have been slow to foreclose on homes and sell them, which has resulted in few distressed sales in comparison to the actual level of distress in the market. (Atlanta Business Chronicle, GA)
Seeking Retransmission Help Nov 1, 2009
The best way to get Mediacom to move forward with getting a deal done is for them to realize they are not going to receive government intervention. . (Multichannel News)
Citigroup is on its Fourth Government Bailout Nov 1, 2009
The story raises the question of what to do with a banks that is too big to fail but seemingly incapable of succeeding without government intervention. One of the tactics by CEO Vikram Pandit has been to practically undo the 1998 merger with Travelers Group, treating each asset pool as a separate business line. (Slate)
Report: Oversupply of foreclosures to drive down house prices Nov 1, 2009
The shape of the second leg down is almost completely dependent on the level of government intervention that will take place. Also, banks have been slow to foreclose on homes and sell them, which has resulted in few distressed sales in comparison to the actual level of distress in the market. (Tampa Bay Business Journal, FL)
Report: Oversupply of foreclosures to drive down house prices Oct 31, 2009
The shape of the second leg down is almost completely dependent on the level of government intervention that will take place. Also, banks have been slow to foreclose on homes and sell them, which has resulted in few distressed sales in comparison with the actual level of distress in the market. (Charlotte Business Journal, NC)
At risk ... beggar-thy-neighbour Oct 31, 2009
Avoiding it will require limits to government intervention. Also needed are well-functioning open markets that provide credible price discovery to promote stable growth. (The Star Online, Malaysia -- Business)
Negotiations with AbitibiBowater suspended over pensions Oct 30, 2009
"AbitibiBowater is in difficult times, but this company remains a cornerstone of Canada's forest industry and it represents 25,000 direct and indirect jobs and a $750 million per year payroll. Our union will play its part to fix AbitibiBowater, but we need government intervention and we need a socially responsible restructuring plan by the company and the creditors. "I cannot emphasize enough that this company, our members and the pensioners are at a critical moment and time is of the essence. "... (Canada Newswire)
VOICE OF THE PEOPLE | Oct. 29, 2009 Oct 30, 2009
The politician does not want us to make our own choices and to be free from government intervention in our lives. There is no power or control in that. (Herald Online, SC -- Opinion)
Buttonwood: Bribing the markets Oct 30, 2009
That was one reason he believed there was a case for government intervention: to act as the spender of last resort. But uncertainty also has another impact. (The Economist)
Schumpeter: Fish out of water Oct 30, 2009
Most of the world s other great entrepreneurial hubs, from Bangalore to Guangdong, bear the stamp of government intervention. But replicating these successes is difficult. (The Economist)
Lesson unlearned Oct 30, 2009
When that happens, macroeconomists believe, government intervention to supply liquidity is both necessary and effective in keeping markets from failing. The term debt-deflation was coined by Irving Fisher in 1933 to describe the way debt and deflation can destabilize each other. (Asia Times Online)
Can the Economy Grow Without Gov't Help? Oct 29, 2009
The idea behind the government interventions was to boost economic activity when it otherwise would be far below its potential, supporting demand for goods and services of all types and helping instill confidence that the nation is not entering a downward economic spiral ... Should read: "Can economy grow WITH government intervention?". (CBS News -- US)
Casting a net into the future Oct 29, 2009
This requires ownership of harvesting rights, partnership working, and can probably only be achieved through government intervention. There can be many jobs in the wild fisheries management and harvesting industry, possibly many more jobs than there are now. (BBC News -- Science)
MIC orders reevaluation of branches, revives presidential council Oct 29, 2009
There is a need to reconnect, reenergize and reinvent these branch leaders so that they will become closer to the people and resolve their problems through government intervention, he said. On the presidential council, Samy Vellu said it would be tasked to come up with a masterplan for the Indian community to be implemented before 2013. (The Star Online, Malaysia -- News)
No Guarantees for Senate's "Public Option" Oct 28, 2009
There was a major recession of 1920-21; though sharp, it quickly reversed itself into what has been call the "Roaring Twenties." In 1929, there was an economic downturn, most notably featured by the stock market collapse, after which came massive government intervention -- you might call it the nation's first stimulus package. President Hoover and Congress responded to what might have been a two- or three-year sharp downturn with many of the policies President Obama and Congress are urging... (CBS News)
Senate Panel Begins Debate on Climate Bill Oct 28, 2009
I'll bet if we turned the free market loose on coming up with renewable energy solutions, (without government intervention. we would have a reasonable commons sense solution faster than Al Gore could say, "Oops, I guess I was wrong!". (CBS News)
Pain of problem gambling Oct 28, 2009
The point to note is that these proposals and other, more proscriptive proposals made by the commission would reduce personal freedom, constitute increased government intervention in the gambling market and reduce economic efficiency, thereby inhibiting economic growth (to some tiny extent). Clearly, the commission considers the reduction in ''social costs'' likely to be brought about by the proposals would justify the loss of efficiency and slower growth. (Sydney Morning Herald -- Opinion)
Mortgage madness Oct 27, 2009
Yet the most meaningful government intervention runs unabated throughout the mortgage marketplace. Between the Fed, Fannie, Freddie, government-backed mortgage guarantor Ginnie Mae, and the Federal Housing Administration - it's full speed ahead into the uncharted waters of mortgage market nationalization. (Asia Times Online)
Tougher regulations for too big to fail companies? Oct 27, 2009
If you want to see where this boat of government intervention is headed, go pick up a copy of Atlas Shrugged. It doesn t end well for the government. (Atlanta Journal-Constitution -- Business)
Bankers dislike pay cuts? Join the club Oct 27, 2009
The worst part of this whole debate is the hubris Wall Street types display toward the rest of America, a belief that they are special because they are rich and always have been, that their lobbyists can and should finagle out of any government intervention. But you can't live off the wallets of common people and act as if you're above them. (Herald Online, SC -- Opinion)
700 AI flyers stranded at Paris airport Oct 27, 2009
With none of them carrying transit visas, the passengers were stuck at the cramped airport for close to 10 hours before government intervention helped them get accommodation in hotels ... Government intervention was required to grant visas to our passengers after which they were accommodated in hotels ... With none of them carrying transit visas, the passengers were stuck at the cramped airport for close to 10 hours before government intervention helped them get accommodation in hotels. (India Times)
Executive Decision Oct 27, 2009
In what the Wall Street Journal calls a watershed moment for government intervention in the private sector, the Federal Reserve announced yesterday it will regulate executive compensation at all banks so they will not have incentives to take on too much risk. Fed chairman Ben Bernanke said his purpose is to ensure that compensation packages appropriately tie rewards to longer-term performance and do not create undue risk for the firm or the financial system. (The American Conservative)
Carney Says Banks Should Use Profits to Rebuild Capital, Not for Bonuses Oct 27, 2009
Because of government intervention to prevent the global financial system from collapsing, we are now awash in moral hazard, Carney said. Carney repeated that regulators could limit the credit cycle by requiring financial institutions hold more capital in good times, and allowing them to hold less capital when credit is scarce. (Bloomberg -- Canada)
Your views: Letters to the editor Oct 26, 2009
How can people protest government intervention and not the power brokers that suck the life out of our country. Mistrust of government taking over is misplaced fear. (Florida Today)
Public option gets new life in health-care debate Oct 25, 2009
Officials worried that the public option had become a proxy for more pervasive concerns about the amount of government intervention Obama was calling for in his policies. Administration officials sent equivocating signals. (AZCentral -- News)
Pay cuts for millionaires Oct 25, 2009
It's something that experts have talked about for years (shareholders would be more responsible about executive pay than clubby compensation committees have been) but it would be a difficult and awkward place for government intervention. But the larger issue is that Wall Street isn't taking Washington seriously at this point. (San Francisco Chronicle -- Opinion)
Q&A: FCCs Baker Sounds Alarm Over 'Anecdote-Based Regulations Oct 25, 2009
I believe that markets work better than government intervention and that competition regulates market behavior more efficiently that regulators can. When we adopt regulations to address anecdotes where there is no hard evidence that a problem exists, we get into dangerous waters. (Multichannel News)
McCain Moves to Block FCC's Net Neutrality Oct 24, 2009
"I remain concerned ... that the FCC is poised to take intrusive action into a well-functioning Internet ecosystem without either the demonstrated need or clear legal authority to do so. I know of no empirical evidence suggesting that the openness of the Internet that we all value is under threat today, or is likely to be under threat tomorrow. In the absence of evidence of market failure or demonstrable consumer harms, the costs of government intervention are more likely to outweigh the... (Newsmax)
FCC votes to begin crafting 'net neutrality' rules... Oct 24, 2009
Republican Commissioner Robert McDowell said he remains unconvinced that broadband providers are engaging in widespread anticompetitive behavior that requires government intervention ... The broadband providers insist they need flexibility, free from government intervention, to keep their networks running smoothly. (The Drudge Report)
Government helps keep consumers safe Oct 24, 2009
Even after years of a lassez faire ideology that allowed businesses to pillage the economy, the idea of government intervention makes a lot of Americans nervous. In a recent Gallup poll, a majority of respondents agreed with the statement that the government currently is trying to do too many things that should be left to individuals and businesses. (Atlanta Journal-Constitution -- Opinion)
Volcker Says US Markets Need More Supervision Oct 24, 2009
While massive government intervention has contained the nation's economic crisis, structural reform and increased oversight of financial markets are necessary to avoid a repeat of the "Great Recession," former Federal Reserve Chairman Paul Volcker said Friday. Volcker, President Barack Obama's top economic adviser, told business leaders in Kansas City that a strong and independent central bank is critical for monetary policy and financial supervision. (ABC News -- Wire)
First Amendment Oct 24, 2009
We need to destroy our economic system and maximize human misery in the United States of America so government intervention promotes smooth sailing for a government controlled socialist state. And, by golly, we are succeeding. (Green Valley News & Sun, AZ)
The Right Basis for Liberty Oct 24, 2009
Libertarians spend a lot of time trying to explain that not every social evil requires a government intervention, but it's dangerous to forget that "not a good idea to have state intervention" doesn't mean "desirable" ... If your definition of "crime" includes things that invite disapproval from a majority of your fellow private citizens, without any criminal sanction or government intervention, sure. (The American Conservative)
FCC approves draft net-neutrality rules Oct 24, 2009
Telecom trade associations and free market groups have characterized the rules as an unnecessary government intervention that will discourage investments in the industry and complicate the legitimate need to manage traffic, spam and malware. Net neutrality represents the first major policy issue for FCC Chairman Julius Genachowski, the President Obama appointee who argues that recent actions by access providers threaten to stifle innovation and undermine the free flow of information. (San Francisco Chronicle)
* Workers protest amendments to Labor Union Act Oct 24, 2009
I will defend the independence of unions against any form of government intervention at all costs, William Lai said. Because of the opposition, the proposal was not reviewed and voted on as originally scheduled. (Taipei Times, Taiwan -- World)
Abortion Rights Advocates Study Nev. Initiative Oct 23, 2009
Rowland said the measure "appears to increase" government intervention in end-of-life decisions, such as living wills. "We wholeheartedly oppose government intervention into those critical private medical decisions," she said. (KLAS-TV)
