The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed. 

It’s depressing to watch, but it is missing the point that the Volcker rule would not have prevented the loss and is probably unworkable.

In the latest Financial Services Outlook, American Enterprise Institute (AEI) housing experts Peter Wallison and Edward Pinto explain how decades of government intervention have gravely harmed America's housing market.

The Financial Stability Oversight Council is now prepared to designate 'systematically important financial institutions', another step towards creating an unhealthy and dangerous relationship between the biggest financial firms and the federal government. Read AEI financial services expert Peter Wallison's detailed insights on how this change poses a serious threat to the US financial system.

The most likely source of a U.S. sovereign debt crisis is a failure of the U.S. political system to address the growth of the major entitlement programs--Social Security, Medicare and Medicaid.

Sir, Edward Luce's description of the competing views in the US about both the financial crisis and a supposed "crisis of capitalism" was a caricature, particularly his discussion of the view he ascribed to the Republicans ("America's three views on the crisis", March 19).

If we do not attribute the crisis to the right cause, we could well stumble into another crisis in the future; and if the Dodd-Frank Act was directed at the wrong cause, we should consider its repeal.

The Federal Housing Administration (FHA) uses lax accounting standards that obscure the fact that it is deeply insolvent, with a looming shortfall of tens of billions of dollars that American taxpayers will have to make up.