A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.
Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.
The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is the philosophy of freedom,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.
The Role of the Community Reinvestment Act in the Financial Crisis
Featuring Edward Pinto, Mortgage Consultant and former Chief Credit Officer at Fannie Mae; Hon. Bruce Morrison, Former Congressman and Former Chair, Federal Housing Finance Board; Robert Litan, Vice President for Research and Policy, Kauffman Foundation and Senior Fellow, Brookings Institution; Mark Stamm, Principal, Stamm Mortgage Management; and John Taylor, National Community Reinvestment Coalition. Moderated by
Mark Calabria, Director, Financial Regulation Studies, Cato Institute.
Few topics related to the recent financial crisis have generated so much heat, yet so little light, than the debate surrounding the role of the Community Reinvestment Act and its impact on mortgage lending standards. While regulators and the community groups strongly defend the act, many economists have pointed to CRA as an important driver behind the lowering of underwriting standards. The panelists will present original data and research on the impact of CRA and its role in the financial crisis.