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."

From the perspective of the corporate profit and loss statement, a trading loss is one expense item in the context of all revenues and expenses. So $2 billion should be compared to the bank's $26.7 billion in pretax profits for 2011, suggesting a reduction of something less than 10 percent in annual profit.

The banking industry suffered credit crises in the 1970s, 1980s, 1990s, and 2000s. An unavoidable conclusion is that its loan loss reserves were in all cases too small. 

This event will address the problems and improvements needed for student loans, beginning with a keynote presentation by former secretary of education Bill Bennett.

Many thanks to John Stossel for articulating the combination of incompetence and bureaucratic will to power that characterizes the TSA. The TSA represents a huge victory for Islamic terrorists over the people of the U.S. How these terrorists must roar with self-satisfied laughter when they contemplate the TSA busily harassing...

The ongoing sovereign debt crisis in Europe continues to weigh heavily oncredit markets and political systems throughout the developed world.