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You searched for: Content Type Policy Brief Remove constraint Content Type: Policy Brief Publishing Institution The Cato Institute Remove constraint Publishing Institution: The Cato Institute Political Geography United States Remove constraint Political Geography: United States Topic Government Remove constraint Topic: Government
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  • Author: Mark A. Calabria
  • Publication Date: 02-2012
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: While Fannie Mae, Freddie Mac, and private subprime lenders have deservedly garnered the bulk of attention and blame for the mortgage crisis, other federal programs also distort our mortgage market and put taxpayers at risk of having to finance massive financial bailouts. The most prominent of these risky agencies is the Federal Housing Administration (FHA).
  • Topic: Debt, Economics, Government, Financial Crisis
  • Political Geography: United States
  • Author: Mark A. Calabria
  • Publication Date: 03-2011
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: The recent financial crisis was characterized by losses in nearly every type of investment vehicle. Yet no product has attracted as much attention as the subprime mortgage.
  • Topic: Economics, Government, Markets, Financial Crisis
  • Political Geography: United States
  • Author: Arnold Kling
  • Publication Date: 04-2010
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: Recently, the Federal Reserve has significantly altered the procedures and goals that it had followed for decades. It has more than doubled its balance sheet, paid interest to banks on reserves held as deposits with the Fed, made decisions about which institutions to prop up and which should be allowed to fail, invested in assets that expose taxpayers to large losses, and raised questions about how it will avoid inflation despite an unprecedented increase in the monetary base.
  • Topic: Economics, Government, Political Economy, Politics, Financial Crisis
  • Political Geography: United States
  • Author: Randal O'Toole
  • Publication Date: 09-2009
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: The administration has likened President Obama's high-speed rail plan to President Eisenhower's Interstate Highway System. Yet there are crucial differences between interstate highways and high-speed rail. First, before Congress approved the Interstate Highway System, it had a good idea how much it would cost. In contrast, Congress approved $8 billion for high-speed rail without knowing the total cost, which is likely to be at least $90 billion.
  • Topic: Energy Policy, Government, Infrastructure
  • Political Geography: United States
  • Author: Michael F. Cannon
  • Publication Date: 09-2009
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: The most hazardous health reform measure before Congress is not the so-called "public option," but proposals to make health insurance compulsory via an individual or employer mandate. Compulsory health insurance could require nearly 100 million Americans to switch to a more expensive health plan and would therefore violate President Barack Obama's pledge to let people keep their current health insurance. In particular, the legislation before Congress could eliminate many or all health savings account plans. Making health insurance compulsory would also spark an unnecessary fight over abortion and would enable government to ration care to those with private health insurance.
  • Topic: Government, Health, Markets
  • Political Geography: United States, America
  • Author: Lawrence H. White
  • Publication Date: 02-2008
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: Critics have raised a number of theoretical and historical objections to the gold standard. Some have called the gold standard a “crazy” idea. The gold standard is not a flawless monetary system. Neither is the fiat money alternative. In light of historical evidence about the comparative magnitude of these flaws, however, the gold standard is a policy option that deserves serious consideration.
  • Topic: Economics, Government
  • Political Geography: United States
  • Author: Michael Tanner
  • Publication Date: 07-2008
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: Healthcare reform will be one of the top issues of the 2008 presidential election. In the face of widespread public demand for changes in the U.S. health care system, both Barack Obama and John McCain have offered detailed proposals for reform.
  • Topic: Government, Health, Politics
  • Political Geography: United States
  • Author: Gerald P. O'Driscoll Jr.
  • Publication Date: 05-2008
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: In the past, the federal government has introduced moral hazard in the banking system through deposit insurance. Banks underpriced risk because of the federal guarantee that backed deposits. After banking crises in the 1980s and 1990s, deposit insurance was put on a sound basis and that source of moral hazard was mitigated. In its place, monetary policy has become a source of moral hazard. In acting to counter the economic effects of declining asset prices, the Federal Reserve has come to be viewed as underwriting risky investments. Policy pronouncements by senior Fed officials have reinforced that perception. These actions and pronouncements are mutually reinforcing and destructive to the operation of financial markets. The current financial crisis began in the subprime housing market and then spread throughout credit markets. The new Fed policy fueled the housing boom. Refusing to accept responsibility for the housing bubble, the Fed's recent actions will likely fuel a new asset bubble. The cumulative effects of recent monetary policy undermine the case for free markets.
  • Topic: Economics, Government, Markets
  • Political Geography: United States
  • Author: T.J. Rodgers
  • Publication Date: 08-2008
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: Since the passage of the Sarbanes-Oxley Act in 2002, the Financial Accounting Standards Board has passed rules that it promises will make corporate accounting more transparent. In fact, its revised Generally Accepted Accounting Principles have made it difficult for investors — or even CEOs — to understand a company's financial report.
  • Topic: Economics, Government, Markets
  • Political Geography: United States
  • Author: Arnold Kling
  • Publication Date: 09-2008
  • Content Type: Policy Brief
  • Institution: The Cato Institute
  • Abstract: The Fannie Mae-Freddie Mac crisis may have been the most avoidable financial crisis in history. Economists have long complained that the risks posed by the government-sponsored enterprises were large relative to any social benefits.
  • Topic: Economics, Government, Financial Crisis
  • Political Geography: United States