The U.S. economy is still trying to recover from the crash it experienced after the housing bubble burst. Fannie Mae and Freddie Mac were bailed out to the tune of $187 billion and remain in conservatorship, wards of the state. The single saving grace was that many of those loans had private mortgage insurance covering the first 30 percent of loss; otherwise the taxpayers would have received a bill for an additional $50 plus billion.
Peter Roff | All Articles
The Internet Corporation for Assigned Names and Numbers – once an obscure nonprofit that was ostensibly important just to a handful of tech heads - is now mired in controversy as a result of the Obama administration’s announced intention to put an end to the last vestiges of America’s supervision of the Internet.
If there’s anyone who is certain beyond a reasonable doubt that the North Korean government or agents in its employ hacked into the computer system at Sony Pictures they’re not saying. Nevertheless suspicions still run high that the attack – which combined 21st century technological ruthlessness with the amateurishness of a fraternity prank – reminded everyone that the regime in Pyongyang considers the United States its mortal enemy.
The Chinese are intent on surpassing the United States as the world’s biggest economy. And they are not above rigging the game to get them there.
Whoever controls the Internet may control the future of global commerce. As more and more commercial platforms are developed, commerce is moving from Main Street into cyberspace at a rate that will make the Internet the global shopping mall of the future.
For some companies, winning a contract to do a job or provide a service for the United States military is the equivalent of finding the pot of gold at the end of the rainbow. One good strike and you're home free. That makes for a contracting process that is highly regulated, closely supervised, and open both to review and repeal -- because heaven forbid someone should make an error that leaves the U.S. taxpayers on the hook or worse.
As the NetMundial global meeting on the future of Internet Governance convenes in Brazil today, the fallout stemming from the Obama administration’s announcement it would cede the United States’ remaining control of the Internet to the Internet Corporation for Assigned Names and Numbers beginning in 2015 continues.
The evolution of the Internet has not only changed the world of commerce; it’s revolutionized the diplomatic sphere and helped democratize the foreign policy process.
Everyone knows that sugar is sweet. What they don’t know is that it is also politically powerful. As Chris Edwards, the director of tax policy studies at Washington’s Cato Institute wrote in the fall of 2013, “No industry in America is as coddled as farming, and no industry is as centrally planned from Washington. The federal sugar program is perhaps the most Soviet of all.”
If the United States had a true free market economy, companies that made bad decisions would have to face the consequences of those decisions. But the U.S. has a mixed economy, meaning -- among other things -- that the federal government all too often steps in to protect companies from the consequences of their mistakes.
Having been unanimously confirmed for the job of secretary of defense by the United States Senate, Leon Panetta has a big job on his hands.
For all his talk of reform, President Barack Obama and his allies have it in for anything not part of the government education monopoly.