The recent period of bubbles, busts, and bailouts--with lessons for improving the financial system.

At this event, Representative Kevin Brady (R-TX) will discuss new legislation aimed at increasing the accountability of the Federal Reserve while strengthening its independence from political pressure.

Sir, Paul de Grauwe’s suggestion that stepped-up direct intervention by the European Central Bank in the European government bond markets would offer a solution to the Eurozone debt crisis rests on two dangerous misperception.

The Federal Reserve could give banks a big incentive to expand by setting negative interest rates on their excess reserves. 

 Everybody knows that an important part of the unsolved problem of our uncompetitive tax system for businesses is the double taxation of corporate dividends.

Why are some balance sheets better for certain assets than others? Well, some are less leveraged, some have longer-term funding, some have government favors and subsidies, and some may just be stuffees.

Here we go again.  A series of uncoordinated government policies are once more setting up the U.S. banking system for major losses and possibly another financial crisis.  

The underlying idea—that financial institutions are "interconnected" and the failure of one will drag down others - is not implausible. But like so much else that underlies the Dodd-Frank Act, it was accepted as true—and acted upon—without much evidence, or even much thought.