With the recent publication of its final rule, the federal government's Financial Stability Oversight Council is now in position to designate certain nonbank firms as "systemically important financial institutions" (SIFIs). There is probably no aspect of the Dodd-Frank Act that will have more damaging effects on competition in the U.S. financial system.

The Dodd-Frank legislation has many problems and omissions, and much is still uncertain about implementation. But the new liquidation authority provides for the possibility of making it so that future crises do not involve the bailouts of creditors that truly embodied the problem of having banks that are too big to fail.

Talks begin tomorrow between the P5 + 1 (the five permanent U.N. Security Council members plus Germany) and Iran. Today, the P5+1 group is having a prep meeting. Talks with Iran are destined to fail, not because I want them to, but because every piece is in place for failure:

AEI's Danielle Pletka, vice president of foreign and defense policy studies explains in a new post why these negotiations are destined to fail and a new report by AEI Iran expert Ali Alfoneh on Iranian Brigadier General Gholamreza Baghbani, the current chief of Iran's Islamic Revolutionary Guards Corps Quds Force (IRGC QF) office in Zahedan, and a narcotics trafficker.

Does Congress need IPAB?

Many Americans resent banks' roles in the financial crisis and in home foreclosures, and are angered at huge salaries paid by firms that received taxpayer money. These feelings are understandable, but not the entire picture.

The Huntsman plan for regulatory reform is a good effort, but it fails to come close to accomplishing the one major goal that it highlights in its summary description — “ending” too-big-to-fail (TBTF).

Larry Lindsey, with his profound knowledge of Washington ways, has absolutely nailed the principal guiding motto of all regulatory bureaucracies: "Cross us and we will make you pay."