Austerity measures in Europe have been the topic of a heated and mostly confused debate in the economic world. During the May summit of the leading industrial nations at Camp David, German chancellor Angela Merkel and other European leaders pushed for continued European austerity. Keynesian critics argue that these policies destroy economic growth.

It's tempting to call the shameful taxpayer subsidy for electric cars - vehicles that are unaffordable for all but a small number of wealthy Americans - this nation's costly little secret.

President Obama promised that the brunt of any financial reckoning will fall mostly only on those making more than $250,000 annually. Under his healthcare plan, the economic agony starts at income levels that fall much lower than that.

Senator Barack Obama's now former vice presidential vetter Jim Johnson was ousted for alleged sweetheart mortgage deals.

Greece's economic and political unraveling could not be coming at a worse moment for President Obama. The crisis has the potential to send shock waves not simply through Europe but also through global financial markets on the very eve of the U.S. presidential election.

We simply have to face the fact that banking is fundamentally risky. As I decided long ago when working in banks, the reason we needed to wear dark suits and have classic buildings was to look conservative in order to offset the real riskiness of what we were doing. 

During two closed sessions before the luncheon, committee members discussed the latest in financial regulation issues. At a luncheon briefing following these sessions, SFRC members gave several statements and answered questions.

The same money can't be spent twice. ObamaCare tries to do precisely that, and the government will have to borrow the difference.