Michigan’s public employees’ pension system is picking up the tab for a failed movie studio because of ill-fated guarantees designed to bring business to the Wolverine State.
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Steve Stanek
Bernanke Puts New ‘Twist’ on Old, Failed Policy
Steve Stanek of FIRE News discusses “Operation Twist,” the Federal Reserve’s program to move hundreds of billions of dollars of the Fed’s investment portfolio into longer-term debt. Critics argue the program is a new twist on an old policy that failed in the 1960s.
Do Fed’s $1.2 Trillion in Loans Indicate a Worse Crisis Than We Knew?
Steve Stanek of FIRE Policy News discusses a recent revelation of $1.2 trillion in secret bailouts to US and foreign-owned banks and Wall Street firms.
California Gov. Jerry Brown (D) has signed legislation requiring out-of-state online retailers to collect and remit sales taxes, even if the business has no physical presence within the state. The world’s largest online retailer – Amazon.com — has responded by filing a petition to allow voters in the state to decide the matter. To place [...]
To Florida Governor Rick Scott (R), a new law designed to lower costs for property insurance carriers and increase competition is a “significant step forward.”
To Christian Cámara, Florida director of The Heartland Institute’s Center on Finance, Insurance, and Real Estate, the law is an “epic disappointment.”
Report: Flood Insurance Rates Far Too Low Relative to Risks
Flood insurance rates in many areas are only one-third as high as they should be to reflect the true risk of flood damage, according to a new report from the Property Casualty Insurers Association of America.
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