Monthly Archives: May 2013

The Fed is Killing Small Banks

Today, four years since the official bottom of the 2007-2009 recession and financial crisis, you can add a surprising voice to the list of those still waiting for a recovery: America’s small banks. As CNNMoney’s Stephen Gandel notes, the banking recovery has been uneven; small lenders are still in trouble, and some continue to fail even as loan quality at larger institutions has rebounded sharply. The U.S. banking sector is becoming a two-class system: big banks are getting bigger, and small local banks are dying. Large banks are driving a Wal-Martization of the banking sector. As with Wal-Mart, the implications for Americans’ standard of living are not good. Continue reading

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Leave Self-Driving Cars Alone, NHTSA!

The National Highway Traffic Safety Administration has proposed new federal rules for autonomous (aka “self-driving”) vehicles, far in advance of any automaker’s plans to introduce even one of these vehicles into the market. It is a statement to the extent of the United States Government’s overgrowth that detailed regulation of unmarketed and unannounced products is not immediately rejected as an absurd waste of tax dollars. Such regulation should almost always be rejected on principle, and this case is a great example. Continue reading

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