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Daily Archive for August 11th, 2011

Here are our esteemed members or Congress on relying on the influence of unaccountable and entrenched ratings agencies: Republican lawmakers have been less critical of S&P’s decision but agree that changes are needed. Rep. Randy Neugebauer (R., Texas) said banking regulators have so ingrained ratings into the financial system, they have “almost made it a […]

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When folks stumbled upon the idea that “externalities” constituted a “market failure” it really breathed new life into the forces of economic interventionism. A quick review, sulfur dioxide emissions/pollution is a classic externality. Why? Energy companies (profit seeking of course) burn coal to produce electricity, which they sell to customers to make a profit. As […]

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