Congress is reconsidering the regulatory framework for derivative instruments as it moves to reauthorize the Commodity Futures Trading Commission this year.

Patients who take a close look at medical science in search of treatments are often appalled by what they discover. On the one hand, there's academic research, a self-contained and self-absorbed universe of its own where data may be internally consistent (on a good day) and robustly reproducible, yet often has little relevance to real-world clinical conditions.

In a new book entitled “Financing Failure: A Century of Bailouts,” Vern McKinley provides the most detailed account yet of the government’s decision-making process during these momentous events.

This statement is available here as an Adobe PDF.  

As an outgrowth of the financial market crisis and the accompanying lack of transparency of derivatives exposures, there is increasing interest in the regulation of derivatives.

Carbon taxes are more regressive when annual income is used as a measure of economic welfare than when proxies for lifetime income are used.

Portugal could avoid Greece's horrible fate if it were to draw the right lessons from the Greek experience.