The $2 billion loss by JPMorgan Chase has reawakened debate about whether banks are taking excessive risks, but many facts have gotten lost in the breathless media coverage.

"They do that because they were born that way."

If you say that about homosexuals, you are tolerant and realistic. If you say it about blacks, you are racist (unless you're black yourself). If you say it about women, you may or may not be sexist, depending on who is manning...

Like all our political institutions, the presidency has evolved with the growth of the nation and the pace of change in the modern world. Three key changes come to mind.

Obama's irresolution and inaction could well make a nuclear Iran his most lasting legacy.

Wisconsin Gov. Scott Walker is currently the target of a recall effort spearheaded by national public employee unions. If his opponents get enough signatures by Jan. 17, Wisconsin will hold a gubernatorial election this summer. The outcome is crucial to the future of the country.

It appears that our interests were ill-served by the abandonment of Iraq by Barack Obama.

Efforts to blame the banks for the financial crisis are failing because they are not supported by data. The key fact is that, by 2008, before the crisis, half of the 54 million mortgages in the U.S. financial system were subprime and other low-quality mortgages.

The implication of Occupy Wall Street's demand is that teachers are paid far too little given their skills. The opposite is actually true: According to our analysis of salaries, fringe benefits and job security, most public school teachers are paid considerably more than what they could earn in private-sector jobs.