Despite all the hype, the health-insurance industry's profit margins remain modest.

Losing money is embarrassing. And an embarrassed Jamie Dimon publicly admitted that J.P. Morgan Chase goofed. Three senior executives lost their jobs as a result. But politicians and regulators in Washington are rushing to leverage the bank's misfortune for their own gain.

Introduction to the conference on the profitability of NYSE specialists.

Recent news reports about the compensation of New York Stock Exchange chairman Richard Grasso have focused unusual attention on questions of governance and the absence of market discipline at the NYSE. Because the NYSE is owned and operated by its members and enjoys special government benefits that limit competition...

If financial stability was at the top of the central banks' agenda by 1999, one can reasonably wonder what they were doing about it from 1999 to 2007.

The lesson of the financial crisis is not that we should stop thinking about the future, but that we should give up the faith that wise central bankers and learned economists can make the financial world safe. They can't.

In past nuclear cooperation agreements, the US has required nations to commit to not enriching uranium and opening nuclear sites to inspections. The Obama administration has just done away with the requirement. Congress needs oversight to combat this possibility of nuclear proliferation.

Since the US