James Pethokoukis

One more from the crony capitalism beat

January 27, 2011

From the great Jerry Bowyer in Forbes:

The fact that Immelt is a Republican is as beside the point as the fact that Daley is a Democrat. Increasingly our nation is divided, not between Rs and Ds, but between TIs and TBs: tribute imposers and tribute bearers. The imposers are gigantic banks, agri-businesses, higher education Colossae, government employees, NGO and QUANGO employees and the myriad others whose living is made chiefly by extracting wealth from other people. The bearers are the rest of us: the people who extract wealth from the earth, not from others.

The latest on states declaring bankruptcy

January 27, 2011

Some Republicans are against the idea, but a couple of heavy hitters — Jeb Bush and Newt Gingrich — continue to be for it. Here is a bit from their LA Times op-ed:

Crony capitalism update

January 27, 2011

The alliance between Big Money, Big Business and Big Government is something I will be giving a hard look over the coming a year. Two great pieces. First, Tim Carney on Obama and Immelt:

The right response to America’s Sputnik Moment?

January 27, 2011

I am a little late on this, but AmSpec’s John Guardiano is dead on:

Kennedy didn’t think America was “as strong as [it] should be.” And the reason, he surmised, was that the heavy hand of big government was too onerous. The feds, he realized, were stifling initiative and entrepreneurship. He knew the solution was to cut marginal tax rates. And so he did just that.

FCIC report: 10 causes of the financial crisis

January 27, 2011

The other dissent (written by Keith Hennessey, Douglas Holtz-Eakin, and Bill Thomas) to the main Financial Crisis Inquiry Commission report identifies 10 causes for the meltdown. They run through them in a WSJ op-ed:

FCIC report: So why did U.S. have a financial crisis?

January 27, 2011

The Financial Crisis Inquiry Commission report is out, and it also includes two separate dissents. There’s a metaphor contained in the dissent by Peter Wallison of the American Enterprise Institute which does a pretty good jobof  describing the majority take and his critique of it: