In 2011, the Government Mortgage Complex accounted for 88 percent of all first-mortgage originations in the United States, with the government also controlling an estimated 90 percent of the student loan market. The government’s growing dominance in the home mortgage and student loan categories is cause for concern, posing a threat to private investors, borrowers, and taxpayers.

On January 31, 2011, the Financial Accounting Standards Board (FASB) issued for public comment a proposed approach for recognizing impairment allowances on financial assets.

The Troubled Asset Relief Program should be run like a business with a goal of returning as much of the involuntary investment as possible to its owners--the taxpayers--along with a reasonable overall profit.

Even with its status as a "program," we should insist on appropriate and regular accounting for TARP to ensure financial responsibility.

There is no currency advantage to be gained by borrowing in U.S. dollars to fund the purchase of U.S. dollar-denominated assets.

Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank's misfortune for their own gain.

In the latest AEI Political Report, the AEI Politics team looks at at the new phase of 2012 campaign from a variety of angles. 

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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facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed.