Reformers must rewrite the rules and support the market efficiencies of the derivatives market.

Financial crises not only impose shortterm economic costs but also create enormous regulatory risks. The financial crisis that is currently gripping the global economy is already producing voluminous proposals for regulatory reform from all quarters.

Epstein shows how the three major components of EFCA—the card check method of union recognition, compulsory interest arbitration, and increased penalties for employer unfair labor practices—will only exaggerate the flaws of the current system and undermine the long-term set of labor practices. He presents powerful and principled reasons to explain why the decline of union membership has little to do with the supposed flaws of the current system and everything to do with globalization and technology. In addition, he demonstrates the significant constitutional challenges to both the card check and arbitration provisions.

What a shock! Obama is who he said he was. By Peter Robinson.