Banking's Past, Present, and Future
In case you have been asleep for the last couple of days, the sovereign debt rating of the United States was downgraded on Friday has been downgraded by the Standard and Poor’s (S&P) from AAA to AA+. This has not made S&P too popular in some quarters, particularly in the US government. President Obama and … Read more
Writing in today’s Wall Street Journal today, Senators Olympia Snowe (R-ME) and Jim DeMint (R-SC) tout their support (along with their 45 Republican Senate colleagues) for a balanced budget amendment to the constitution. This is a bad idea for three reasons. First, it is bad economic policy. Second, if passed, it would likely make the … Read more