On April 13, 2012, the US Department of the Treasury released new cost estimates for the Troubled Asset Relief Program. Looking principally at actual and projected contractual cash flows, the document concludes that: "Overall, the government is now expected to at least break even on its financial stability programs and may realize a positive return." 

The Securities and Exchange Commission's lawsuits against six top executives of Fannie Mae and Freddie Mac, announced last week, are a seminal event.

Government housing policies and the toxic mortgages they spawned were the sine qua non of the financial crisis.

What is imagination? How does it work and what effects does it have on human lives and human communities?

Steven Brill’s Class Warfare is an immensely readable take on a slice of the “school reform” movement and an intriguing look at some key individuals in that effort. But, as is shown by its treatment of philanthropy, the book is perhaps more revealing for what its author omits—and how its blinkered view can mislead readers on big questions.

We should praise the Obama administration, the CIA and especially our armed forces for the operation that killed Osama bin Laden. But we should not forget what made the operation possible: President Bush's counterterrorism policies.

House Democrats have shown a shameless willingness to play politics with our national security.

The revitalization of the political and think tank culture in Britain is vital or there is a risk of more of the same when David Cameron inevitably wins office next year.