Will we recover, unbridle ourselves of debt, innovate, pay for our national security? Or, is China fated to become number one, leaving us to live in a Chinese world?

The SEC’s concept release emphasizes that market structure should favor long-term investors over short-term investors.

On April 5, 2012, the President signed into law the Jumpstart Our Business Startups (JOBS) Act, which passed by a large bipartisan majority in the Congress. The Act is designed to facilitate the equity funding of new companies. Recent research has documented that from 1980 through the 2008-09 recession new companies have been main drivers of job creation in the United States. 

The Federal Housing Administration is supposed to support low-income housing without costing taxpayers a dime. Today, the FHA is subsidizing middle and upper-middle income homes - and setting itself up for a huge taxpayer bailout. 

Government policies promoted a systematic loosening of underwriting standards in an effort to promote affordable housing, which then contributed mightily to the housing bubble, mortgage meltdown and resulting financial crisis.  

Governor Romney's defenders have argued that critics of his role at Bain Capital are really attacking capitalism itself. Given the academic evidence, we would have to agree.

Leveraged bets as high as 30 to 1 on risky investments with little equity cushion against potential losses is what helped bring down the likes of Lehman Brothers, Bear Stearns, Fannie Mae and Freddie Mac. Think it can't happen again? It's about to—with the Federal Housing Administration.

Reform focused on sustainable lending would have FHA target a projected average claim rate of 5 per 100 insured loans under normal circumstances and 10 per 100 insured loans under stress circumstances.  This rate is about five times the normal default level for prime loans and about half the FHA's traditional default level under normal circumstances.