The Fed’s Libor Replacement Would Shackle Small Banks
The Federal Reserve’s “solution” for one big problem risks creating another. The task force it convened to study reference rates—the interest-rate benchmarks used to determine rates throughout the economy—aims to impose a new standard to replace the London interbank offered rate, which is due to expire in 2021.
History, like the weekly Torah readings, repeats itself. This much we know. Humans have been impacting the Earth since the first humans became a part of the ecosystem. However, modern society is resisting the unavoidable truth that we have severely damaged that ecosystem that sustains us.
Facebook’s Libra Cryptocurrency: Bad for Privacy, Bad for Competition
Allowing Facebook to mint its own coin, the Libra, would turn it into the greatest anti-competitive trust case in history. It would make the early 20th century Morgans or Rockefellers seem downright competitive.
A Contrarian’s View of the Uses, and Abuses, of Free Speech
Most citizens in the United States take the First Amendment guaranteeing freedom of speech as a source of patriotic pride. We have been taught that all speech is protected. Bad speech is overcome with good speech. No matter how much harm speech inflicts, when the First Amendment is in question, the Supreme Court feels it is its duty to defend all speech.
A Jewish Christmas wish: Let’s replace replacement theology once and for all
Jews of my father’s generation, at least a good deal of them, dreaded Christmas. Today my family enjoys the holiday, fearlessly feasting at Chinese restaurants. Jews and Christians now live and celebrate in peace because Christians have largely abandoned replacement theology.
On April 26, the last day of the Passover holiday, Jews around the world celebrated not only the Israelites’ escape from the power of the Pharaoh but also the Pharoah’s capitulation to the power of God.
Dodd-Frank aided 'too-big-to-fail'; new bank law will halt that
Critics of Wall Street continue to voice loud concerns about the recently passed the Economic Growth, Regulatory Relief and Consumer Protection Act. For those Americans who seek greater competition and less concentration in the banking industry, this opposition is deeply misguided.