Wall Street’s salesmen and dealmakers, whose expense accounts help fill downtown chophouses and box seats at ballparks, are now treating clients to a different kind of entertainment: high-end workouts.
Believe it or not, U.S. financial regulators don’t have to calculate the economic impact of the rules they write. It’s an omission they should correct before it becomes a serious obstacle to fixing the financial system.
In the span of one week, Democrats went from dismissing the possibility that the Supreme Court would strike down the 2010 law mandating individuals to buy health insurance to consoling themselves that any such action would have a silver lining.
There is little doubt that the U.S. housing market is hurting; the latest S&P Case-Shiller index shows residential values declined 4.2 percent in the first quarter compared with the previous three months.
With the U.S. economy yielding firmer data, some researchers are beginning to argue that recoveries from financial crises might not be as different from the aftermath of conventional recessions as our analysis suggests. Their case is unconvincing.