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.

The $2 billion loss at JPMorgan Chase (JPM) has reopened debate on the Volcker rule. The proponents of the rule have seized on the story as proof that the Volcker rule is necessary and should be quickly put into effect by regulation. In reality, however, if the facts are as thus far reported, what happened at JPMorgan is proof that the Volcker rule is unworkable and should be repealed. 

In the latest Financial Services Outlook, American Enterprise Institute (AEI) housing experts Peter Wallison and Edward Pinto explain how decades of government intervention have gravely harmed America's housing market.

The Financial Stability Oversight Council is now prepared to designate 'systematically important financial institutions', another step towards creating an unhealthy and dangerous relationship between the biggest financial firms and the federal government. Read AEI financial services expert Peter Wallison's detailed insights on how this change poses a serious threat to the US financial system.

Former White House Counsel, now AEI scholar, Peter J. Wallison comments about the "real significance of the Obama campaign's reversal on the use of super PAC."

The Federal Housing Administration (FHA) uses lax accounting standards that obscure the fact that it is deeply insolvent, with a looming shortfall of tens of billions of dollars that American taxpayers will have to make up.

Treasury Secretary Timothy Geithner has said that the administration wants to bring private capital back to the housing finance market. But without reopening Dodd-Frank and reigning in the Federal Housing Administrations (FHA), winding down government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac will not be enough to allow the private market to return

Please join us for a lively discussion about Jack Goldsmith's new book, "Power and Constraint: The Accountable Presidency after 9/11," hosted by AEI and the Federalist Society.