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More than a year after TARP launched, do you think it's working? -Matthew Thacker, Bowling Green, Ohio I believe it is working very well. Remember, the purpose was to stabilize the financial system. If the system had collapsed, we would have had economic Armageddon...
...there is one, for resolving the "too big to fail" issue? -Lawrence Lin, Taipei If I could boil it down to one recommendation, it is that we need strong resolution authority so that any failing institution can be liquidated in a way that does not damage the financial system overall. Then taxpayers will never again have to come in and provide a bailout...
...such a thing as a rational market? -Femi Awolusi, Denver I believe in markets, but I don't believe that you can have unregulated, unfettered markets. Since the beginning of time, they have been prone to excesses. The key thing is to make sure we have a regulatory system that can evolve with the markets...
Gone is the watercooler nation that signed on to the Cold War consensus, sent men to the moon and embraced Ike's ambitious interstate highway system. "The occasion is piled high with difficulty," said Abraham Lincoln at a moment of supreme peril to American democracy, "and we must rise with the occasion." Notice: he said we must rise. But that requires, if nothing else, a sense of shared values. Few paid much attention last December as Southern Republicans in the Senate blocked a $14 billion federal rescue of GM and Chrysler. That lawmakers representing states with nonunion foreign-auto plants...
Prisoners leave saddened parents, abandoned mates, fatherless children. Of course, in many cases, those families are better off with their violent relatives behind bars. But a court system that clobbers first-time offenders with mandatory sentences - sometimes for nonviolent crimes - will inevitably lock up thousands of not-so-bad guys alongside the hardened criminals. Not everyone agrees on the definition of a nonviolent criminal, but studies have estimated that as many as one-third of all U.S. prison inmates are in that category, most of them locked up on drug charges. (See the top 10 crime duos...