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The Ledger 04/25/14
The Ledger 04/25/14
The Ledger 04/25/14
credit to subsidize those with bad credit the bill proposed by Sen. Tim Johnson (D., S.D.) and Sen. Mike Crapo (R., Idaho) manages to make the affordable-housing provisions of current policy worse. Feds hide the true SIFIs. Alex Pollock: We have a new post-crisis financial category: systemically important financial institutions, meaning anybody big enough and leveraged enough to possibly create systemic risk for everybody else. If you are a super-big and super-leveraged financial firm, the Financial Stability Oversight Council can designate you as a SIFI. But it has not so designated Fannie Mae and Freddie Mac. To all impartial observers, this makes FSOC look incompetent.
In other news
Should Americas middle class envy Canadas? Jim Pethokoukis: The American middle-class certainly has reason to be bummed. The worst downturn since the Great Depression has been followed by an unusually weak recovery. Unemployment remains high. Median wages are still below their prerecession peak. And if all of that werent bad enough, the New York Times new Upshot site offers this additional bit of discouraging news: The American Middle Class Is No Longer the Worlds Richest. VIDEO Say goodbye to corporate taxes?
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