I have no interest in bailing out anybody, quite frankly, and I think banks have to suffer every dollar of loss if they make a bad loan.

Edward Conard

Categorized in : Think Bad Suffer Loss

Let's not kid ourselves about just how cheap offshore labor really is. We not only pay substantially less per hour: we also avoid the costs we would incur if these workers immigrated here. We don't pay for their medical expenses when they show up in the emergency room without insurance.

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We have to make sure that the banks pay every nickel of loan losses that they create, but we don't want to hold them responsible for withdrawals if we want the economy to recover.

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The job of every president is to ride herd over Congress.

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Republicans' focus on defunding or scaling back Obamacare - an unpopular entitlement program - rather than entitlements generally, namely Social Security and Medicare, has raised questions about their true objective. But critics forget that spending is fungible.

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When all is said and done, you're either for investment and risk taking as a solution for what ails the economy, or you're against it. The real world offers no middle ground.

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