The American people are universally fed up — with Congress, both political parties, the administration, the financial institutions, the lenders and loan brokers who were responsible for the subprime loan mess, and with unqualified borrowers who took on the obligations of home ownership and now expect the government to keep them in homes they can’t afford...

Friday night's U.S. presidential debate reminded me of just how much I'd not been missing...

"Barack" and "Obama": Never before in American politics have words quite so outlandish come quite so close to the White House (although a spirited case can be made for "Gamaliel" and "Milhous.")...

In considering what needs to be done to improve the functioning of the financial system, it is necessary to distinguish steps to avoid a major depression in the near term from long run reforms of the financial system...