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Global Financial Crisis
The Cato Institute has been following the crisis in financial markets since the very beginning. From the sub prime crisis to Fannie and Freddie to the $700 billion bailout, the recent financial events have given our analysts and experts plenty to talk and write about. We decided to pull together the op-eds, podcasts, reports, and publications from our scholars on this issue, so all these resources can exist in one place. We hope it’s a useful tool for your research.
The Bailouts
"Say No to the Auto Bailout," Daniel J. Mitchell, CNN.com, November 13, 2008
"What's Good for GM? featuring Daniel J. Ikenson, November 11, 2008 [Flash Audio, 10:05]
"There's Nothing Wrong with a "Big Two"," Daniel J. Ikenson, New York Daily News, November 11, 2008
"Shelter from the Storm," Steve H. Hanke, Forbes, November 10, 2008
"Is it Constitutional?," Richard W. Rahn, Forbes, November 5, 2008
"Nightly Morphin' Bailout Dangers featuring William A. Niskanen, November 3, 2008 [Flash Audio, 07:05]
"Banking Crises: Plus Ça Change," Steve H. Hanke, Globe Asia, October 29, 2008
"Mark to Market Accounting – What Are the Issues?," Warren Coats, Cato.org, October 29, 2008
"Mark-To-Model, Into the Twilight Zone," Steve H. Hanke, Investor's Business Daily , October 24, 2008
"Clearinghouses and Icky Assests featuring Craig Pirrong, October 21, 2008 [Flash Audio, 11:37]
"In Defense of Liberty," William A. Niskanen, Forbes, October 21, 2008
"Is the Bailout Constitutional?," Robert A. Levy, The Legal Times, October 20, 2008
"Talking Down the Banking System and the FDIC," Vern McKinley,Cato.org, October 17, 2008
"How to Avoid the Next Housing Bubble," Daniel J. Mitchell, The Los Angeles Times, October 17, 2008
"Treasury Has No Authority to Coerce the Banks," William Poole, The Wall Street Journal, October 17, 2008
"What to Do with Fannie and Freddie?," Daniel J. Mitchell, Los Angeles Times, October 16, 2008
"McCain's Bailout: Moral Hazard or Economic Salvation?," Daniel J. Mitchell, Los Angeles Times, October 15, 2008
"Helping Healthy Banks and Lessons for Libertarians"" featuring William A. Niskanen, October 15, 2008 [Flash Audio, 06:05]
"Cutting the Effective Corporate Tax Rate (PDF)," Jack M. Mintz, Cato Institute Tax and Budget Bulletin, October 2008
"Long-Term Implications of the Financial Crisis," Jagadeesh Gokhale, Cato.org, October 14, 2008
"Suspend Cap Gains Tax On Toxic Assets," William Shipman, Investors Business Daily, October 13, 2008
"Should Taxpayers Fund the American Dream?," Daniel J. Mitchell, The Los Angeles Times, October 13, 2008
"Searching Plan B" featuring William Poole, October 8, 2008 [Flash Audio, 07:10]
"Regulators Cannot Avert Next Crisis," Johan Norberg, The Australian, October 7, 2008
"Robert Nozick Vs. The U.S. Congress," Richard Epstein, Forbes.com, October 7, 2008
"Standing Still and Falling Behind," Chris Edwards, The National Review Online, October 6, 2008
"Contagion Hits Europe" featuring Gerald P. O'Driscoll Jr., October 6, 2008 [Flash Audio, 05:03]
"Financial Crisis: We Need a Plan B" featuring William Poole, October 6, 2008 [Flash Audio, 06:03]
"A Dark Bailout Scenario" featuring Arnold Kling, October 3, 2008 [Flash Audio, 10:00]
"Main Street vs. Wall Street," Arnold Kling, The American, October 3, 2008
"Fighting Financial Fires With Blini," Andrei Illarionov, The Moscow Times, October 3, 2008
"The Big Bailout — What Next?," Warren Coats, Cato.org, October 3, 2008
"Improving the Rescue Plan," William Poole, Orange County Register, October 2, 2008
"An Option for Containing Contagion" featuring Peter Van Doren, October 2, 2008 [Flash Audio, 12:57]
Cato scholars assail the bailout on television and radio, October 1, 2008 [Flash Video, 03:55]
"The Bailout's Essential Brazenness," Jay Cochran, Cato.org, October 1, 2008
"Mislead," by Daniel J. Mitchell, National Review (Online), October 1, 2008
"Lies or Ignorance?," Richard W. Rahn, Washington Times, October 1, 2008
"Did the Bailout Vote Revive Conservatism?" featuring Michael D. Tanner, October 1, 2008 [Flash Audio, 04:36]
"Bailout Round One: FAIL" featuring William A. Niskanen, September 30, 2008 [Flash Audio, 06:24]
"The Politics of Bailouts" featuring John Samples, September 29, 2008 [Flash Audio, 09:25]
"The Hoover Analogy Flunks," by Alan Reynolds, Forbes, September 29, 2008
"Of Good Collateral and Bad" featuring Gerald P. O'Driscoll Jr., September 27, 2008 [Flash Audio, 07:10]
"The Perfect Financial Storm," by Jagadeesh Gokhale, Cato.org, September 26, 2008
"Lehman Brothers and Bear Stearns: What's the Difference?," by Peter Van Doren, Cato.org, September 25, 2008
"Bailouts and Uncertainty" featuring Arnold Kling, September 25, 2008 [Flash Audio, 11:44]
"Socialized Risks, Private Rewards" featuring James A. Dorn, September 24, 2008 [Flash Audio, 11:47]
"Surprised by the Obvious," by Richard W. Rahn, Washington Times, September 23, 2008
"Constructing a Financial Perfect Storm" featuring Jagadeesh Gokhale, September 23, 2008 [Flash Audio, 11:33]
"'Wall Street' No Longer Exists," by Alan Reynolds, The Wall Street Journal (Online), September 23, 2008
"The $700-Billion Bailout" featuring William A. Niskanen, September 22, 2008 [Flash Audio, 10:16]
"Political Perils of Overregulation," by Patrick Basham, Washington Times, September 22, 2008
"The D E Fs of the Financial Markets Crisis," by Warren Coats, Cato.org, September 26, 2008
"Mac's Late Rally with His Money Message," by Patrick Basham, New York Post, September 20, 2008
"Why Bailouts Scare Stocks," by Alan Reynolds, New York Post, September 18, 2008
"Bailout-Mania," by Jagadeesh Gokhale and Kent Smetters, Forbes.com, September 17, 2008
Fannie Mae and Freddie Mac
"Equal Opportunity Corrupters," by David Boaz, American Spectator, September 26, 2008
"What Price Stability?," by James A. Dorn, South China Morning Post, September 15, 2008
"Too Few Regulations? No, Just Ineffective Ones," by Tyler Cowen, New York Times Upfront, September 13, 2008
"Fannie/Freddie Bailout Baloney," by Gerald P. O'Driscoll Jr., New York Post, September 9, 2008
"Freddie Mac and Fannie Mae: An Exit Strategy for the Taxpayer," by Arnold Kling, Briefing Paper no. 106, September 8, 2008
The Fed and Monetary Policy
"To Prevent Bubbles, Restrain the Fed," Gerald P. O'Driscoll Jr. , The Wall Street Journal, November 17, 2008
"Talking Down the Banking System and the FDIC," Vern McKinley , Cato.org, October 17, 2008
"The Bush Legacy: Deflation or Inflation?," by Steve H. Hanke, Globe Asia, September 24, 2008
"The Greenback and Commodity Prices," by Steve H. Hanke, Wainwright Economics, September 11, 2008
"Milton Friedman: Float or Fix?," by Steve H. Hanke, Wainwright Economics, September 2, 2008
"Washington Is Quietly Repudiating Its Debts," by Gerald P. O'Driscoll Jr., The Wall Street Journal, August 22, 2008
"The Greenback and Commodity Prices," by Steve H. Hanke, Globe Asia, August 19, 2008
"Polluted Markets," by James A. Dorn, South China Morning Post, August 18, 2008
"The Fed Plays With Fire," by Steve H. Hanke, Forbes, July 24, 2008
"Giving the Fed New Powers Ignores History," Steven Horwitz , Cato.org, June 13, 2008
"Greenspan's Bubbles," by Steve H. Hanke, FinanceAsia, June 5, 2008
"Keep Complaining about the Economy," by Will Wilkinson, Marketplace, June 4, 2008
"Asset Bubbles and Their Consequences," by Gerald P. O'Driscoll Jr., Briefing Paper no. 103, May 20, 2008
"The Limits of Monetary Policy," by James A. Dorn, South China Morning Post, May 9, 2008
"Blame the Fed," by Gerald P. O'Driscoll Jr., Reason, May 5, 2008
"The Fed Walks a Tightrope," by Jagadeesh Gokhale and Thomas A. Firey, Washington Post, April 24, 2008
"At the Fed, Nothing Succeeds Like Failure," by George A. Selgin, Cato.org, April 22, 2008
"Panic Time at the Fed," by Steve H. Hanke, Forbes, April 17, 2008
"Questionable Rescue Operations," by Steve H. Hanke, Globe Asia, March 11, 2008
"Separating Money, Credit Equals Safety," by Steve H. Hanke, Orange County Register, February 20, 2008
"Interest Rates and Dollar Fundamentals," by Alan Reynolds, The Wall Street Journal, November 15, 2007
"Fewer Central Banks, Please," by Steve H. Hanke, Globe Asia, June 1, 2007
Additional Background
"Bush's Stimulus Flop," by Alan Reynolds, The Wall Street Journal, January 22, 2008
"Economic Hysteria," by Alan Reynolds, New York Post, April 11, 2008
"Financial Regulatory Limitations," by Richard W. Rahn, Washington Times, April 23, 2008
"Sliding into Recession," by Swaminathan S. Anklesaria Aiyar, American Spectator (Online), April 30, 2008