Brookings: Projects - Initiative on Business and Public Policy

Telling the Narrative of the Financial Crisis: Not Just a Housing Bubble

Mon, 23 Nov 2009 00:00:00 GMT

What really caused the great economic crisis of the past year? Should the Fed’s powers be stripped away, per legislation sponsored by Rep. Ron Paul that recently passed the House Financial Services Committee? In an effort to help inform the debate, Brookings Fellow Douglas Elliott and Senior Fellow Martin Baily ponder the importance of public perceptions of the causes of the crisis - and how they will affect chances of financial regulatory reform.

On the Road Again? A Look at the U.S. Auto Industry with Steven Rattner

Wed, 21 Oct 2009 13:00:00 GMT

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October 21, 2009, 1:00 PM to 2:30 PM

On October 21, the Initiative on Business and Public Policy explored the government’s role in the struggling auto industry and their future relationship. Steven Rattner, former head of the Obama administration’s Task Force on the Auto Industry, delivered the keynote address.

Strengthening and Streamlining the Federal Supervision of Financial Institutions

Tue, 29 Sep 2009 00:00:00 GMT

Martin Baily testified before the Senate Banking Committee on the creation of a single micro prudential regulator, combining the regulatory and supervisory functions now carried out by the Fed, the OCC, the OTS, the SEC and the FDIC. He calls attention to the Australia model as a good positive example where a single prudential regulator has worked well.

The Scouting Report: Global Financial Crisis, One Year On

Wed, 16 Sep 2009 12:30:00 GMT

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September 16, 2009, 12:30 PM to 1:30 PM

The collapse of Lehman Brothers in September 2008, combined with the government takeover of Fannie Mae and Freddie Mac, helped trigger the worst financial crisis in the United States since the Great Depression. In this week’s edition of the Scouting Report, Douglas Elliott—a former investment banker and current fellow at Brookings—answered your questions about the financial crisis and where we stand one year later. Fred Barbash, senior editor at Politico, moderated the discussion.

Strengthening and Streamlining Prudential Bank Supervision

Thu, 06 Aug 2009 00:00:00 GMT

Financial sector regulation was one of several causes of the financial crisis that has devastated the U.S. economy and spread globally. We can do better than the current bewildering alphabet soup of regulators, says Martin Baily, by simplifying and streamlining regulation into a single micro prudential regulator.

Germany’s Recession vs. America’s: Doing Worse, but Feeling Better

Tue, 28 Jul 2009 00:00:00 GMT

The global recession is damaging Germany twice as much as the nation where it started—the United States. This is due to a collapse in world trade that has hurt Germany’s economy thanks to its reliance on exports as its economic engine. Douglas Elliott is intrigued by the differing reactions between the two nations and why the German public and elites feel much better about their situation than Americans do about theirs.

Structuring the Consumer Financial Protection Agency

Wed, 01 Jul 2009 00:00:00 GMT

The Obama administration recently released a more detailed legislative proposal for its proposed Consumer Financial Protection Agency (CFPA). Douglas Elliott believes the proposal appears to retain the intended benefit of a clear focus on consumer protection while addressing seriously the potential for destroying useful financial products. It also aims to prevent the new agency from “empire building.”

How Will the Regulatory Reforms Affect Consumers?

Thu, 18 Jun 2009 00:00:00 GMT

Dougals Elliott and others weigh in on the Obama administration's new consumer protection proposal on PBS's The Business Desk with Paul Soloman.

Reviewing the Administration’s Financial Reform Proposals

Wed, 17 Jun 2009 00:00:00 GMT

President Obama’s financial reform proposals are all sensible, necessary reforms. Unfortunately, some bolder steps have been left out due to the expectation of intense opposition from entrenched interests, says Douglas Elliott. He analyzes the administration’s plan, including parts that he believes did not go far enough.

What Obama's Financial Regulation Reform Announcement Means

Wed, 17 Jun 2009 00:00:00 GMT

The long-awaited Obama administration plan to reform financial regulation has arrived. The good news, says Douglas Elliott, is that the specific proposals are virtually all sensible and constructive. The bad news is that there were some missed opportunities.

The U.S. Financial and Economic Crisis: Where Does It Stand and Where Do We Go From Here?

Mon, 15 Jun 2009 00:00:00 GMT

The economy is showing signs that it is likely bottoming out and heading toward a weak recovery, but we need to keep our optimism—and our policy actions—in check, argue Martin Baily and Douglas Elliott. Many risks remain for both the banking system and the larger economy, and they argue for increased focus on existing financial rescue plans and the banking sector.

Do Post-Bailout Banks Need New Rules?

Tue, 09 Jun 2009 00:00:00 GMT

The Treasury Department has cleared the way for 10 big banks to start repaying $68.3 billion in taxpayer aid. The administration, however, plans to introduce new compensation guidelines that would apply to financial companies, including those that returned taxpayer money. What new federal restrictions, if any, should be imposed on the banks leaving TARP? More broadly, does this move by the Treasury Department show that its financial recovery programs are working? Douglas Elliott and other experts discuss these issues.

The Tripling of the PBGC’s Deficit: What Does it Tell Us?

Thu, 04 Jun 2009 00:00:00 GMT

The Pension Benefit Guaranty Corporation’s deficit tripled over the last six months and could top out at more than $100 billion. According to Douglas Elliott, this accelerated loss is the result of a combination of factors, including the PBGC’s inability—thanks to Congress—to charge premium rates that would cover its risk, and the investment and funding choices made by the companies that sponsor the pension plans insured by the PBGC. Is another massive bailout in store?

General Motors Enters Bankruptcy

Tue, 02 Jun 2009 16:49:38 GMT

Auto giant General Motors announced that it's seeking to file for bankruptcy, which could result in one of the biggest Chapter 11 filings in U.S. history. Martin Baily examines the possible outcomes of this action saying GM lost its edge in the increasingly global and competitive auto manufacturing business.

What Happens to the GM Pensions in Bankruptcy?

Fri, 29 May 2009 00:00:00 GMT

General Motors has filed for bankruptcy, and one of many questions is what will happen to its pension promises, which are underfunded by $20 billion. Douglas Elliott says GM is very likely to continue to shoulder the full obligations after restructuring, rather than passing them to the Pension Benefit Guaranty Corporation and taxpayers—for now.

A Guide to the Pension Benefit Guaranty Corporation

Wed, 20 May 2009 00:00:00 GMT

As Chrysler and GM face bankruptcy proceedings and restructuring, the Senate held a hearing on whether the Pension Benefit Guaranty Corporation (PBGC) has the capacity to insure the pensions of nearly 44 million Americans who work or have worked at those firms. Douglas Elliott explores the particulars of the PBGC, the precarious situation that the automotive industry finds itself in, and offers 14 possible solutions to the problems that plague the government’s pension program.

Implications of the Bank Stress Tests

Mon, 11 May 2009 00:00:00 GMT

Although there was good news from the Fed’s recent “stress tests” on the 19 largest banks, it is important to not take excessive comfort from what remains essentially a highly educated guess as to the future of the banks in a very uncertain environment, says Douglas Elliott. While we may well have turned the corner, we can be far from certain that the solvency crisis in banking is over.

Stress Test Loan Losses and Profit Expectations: A Comparison

Fri, 08 May 2009 00:00:00 GMT

Doug Elliott analyzes the banking regulator’s stress test results by comparing them with other detailed analyses of the financial state and prospects of the banks, finding that the government's assumptions are more conservative than the IMF's, but less than the pessimists'. But he notes the real stress test will be comfortably surviving 2009 and 2010.

Responding to the Financial Crisis: A Conversation with Senator Bob Corker

Fri, 08 May 2009 13:00:00 GMT

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May 08, 2009, 1:00 PM to 2:00 PM

Since the passage of the Emergency Economic Stabilization Act of 2008, officials have struggled to get ahead of the evolving financial crisis. The Initiative on Business and Public Policy at Brookings hosted a conversation with Senator Bob Corker (R-Tenn), a member of the Senate Banking Committee, to discuss the federal response to both the financial crisis and the broader economic downturn.

Regulating and Resolving Institutions Considered “Too Big to Fail”

Wed, 06 May 2009 00:00:00 GMT

In testimony to the Senate Banking Committee, Martin Baily and Robert Litan discussed the "too big to fail" conundrum, saying large institutions are necessary but must be regulated in a way that at least partially offsets the risks they pose to the rest of the financial system. They also say Congress needs to provide more Treasury TARP funds, maybe on a large scale, but that such a move will ultimately cost less than bank nationalization.

Interpreting the Bank Stress Tests

Mon, 04 May 2009 00:00:00 GMT

The Obama administration has released the long-awaited results of the bank stress tests, saying some have enough capital to weather the recession, while others receive a regulatory blessing. Douglas Elliott says there is some good news, but not to overinterpret until we know the tests’ rigor. The real stress test will be making it through 2009 and 2010 without losing too much money.

Bank Nationalization: A Survival Manual

Tue, 21 Apr 2009 00:00:00 GMT

Several prominent economists continue to push for the government to nationalize the nation’s weakest banks before they bleed the Treasury and taxpayers dry. Douglas Elliott says nationalization is risky and costly and therefore should be the last resort, but policymakers need to be ready in case it is needed. He writes a 15-step “survival manual” with suggestions for minimizing the damage from nationalization, especially the costs to taxpayers.

Risk, Reward and the Road to Economic Recovery

Mon, 20 Apr 2009 09:00:00 GMT

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April 20, 2009, 9:00 AM to 11:00 AM

Moving the economy toward sustainable long-term economic growth requires a more complete understanding of not only the root causes of the economic crisis, but both how it spread first to the financial sector and then to the real economy. On April 20, Brookings’s Initiative on Business and Public Policy hosted a discussion to explore Wall Street's role in triggering the economic crisis and the role Wall Street leaders may play in leading us out.

Facing—and Fixing—"Too Big to Fail"

Tue, 31 Mar 2009 09:15:00 GMT

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March 31, 2009, 9:15 AM to 11:30 AM

As public outrage grows over bonuses paid to employees at private firms being bailed out by the government, many are asking whether some companies are "too big to fail" and the consequences of propping up firms at any cost. The Initiative on Business and Public Policy at Brookings hosted Minneapolis Federal Reserve President Gary H. Stern and Vice President Ron J. Feldman to discuss the issue, along with former Federal Reserve Chairman Alan Greenspan.

Three Cheers for Treasury’s Plan for Regulating Systemic Risk

Mon, 30 Mar 2009 00:00:00 GMT

Robert Litan discusses the Treasury’s six part plan for significantly reducing systemic risk in the financial system. He says the six elements in the Treasury plan, if enacted into law, should significantly reduce the likelihood of single or multiple failures of systemically important financial institutions in the future, as well as the losses to taxpayers for protecting their creditors.

Regulating Systemic Risk

Mon, 30 Mar 2009 00:00:00 GMT

The Treasury Department recently released its plan to fix the financial system, which rightly concentrates on reducing systemic risk, argues Robert Litan. While there are legitimate concerns about vesting such large responsibilities with any financial regulator, as long as there are financial institutions whose failure could lead to calamitous financial and economic consequences, then some arm of the federal government must oversee systemic risk and do the best it can to make that oversight work.

Japan’s Lost Decade: Lessons for the United States

Thu, 26 Mar 2009 09:00:00 GMT

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March 26, 2009, 9:00 AM to 12:20 PM

On March 26, the Center for Northeast Asian Policy Studies and the Initiative on Business and Public Policy at Brookings, in collaboration with Nikkei and the Japan Center for Economic Research, hosted leading Japanese and American experts to discuss Japan's experience and its lessons for the United States.

Pre-emptive Bank Nationalization Would Present Thorny Problems

Wed, 25 Mar 2009 00:00:00 GMT

A number of prominent observers continue to call for a swift nationalization of the nation’s weakest banks. Douglas Elliott argues that while nationalization would provide an appealing emotional catharsis and has some advantages, the harm would be greater. Nationalization would be costly, difficult and risky. Elliott walks through the initial step of taking over a major banking group and demonstrates the problems that lie therein.

The Public-Private Investment Program: An Assessment

Mon, 23 Mar 2009 00:00:00 GMT

Treasury Secretary Timothy Geithner’s plan announced on Monday to move some $1 trillion in toxic assets off of the balance sheets of the banks helps remove the uncertainty from the financial system although it will not fix the credit crisis on its own, according to Douglas Elliott. Strong concerns remain about whether the Public Private Investment Program (PPIP) will succeed—the program could either fizzle or prove to be too expensive for the taxpayer—but there are also some grounds for hope.

What Will It Take to Stabilize the Banks?

Tue, 17 Mar 2009 00:00:00 GMT

In this article Martin Baily and Douglas Elliott discuss what it will take to stabilize the banks. They call for an adequate amount of capital to be injected into the banks and for the troubled assets be moved out of the banks or their impact neutralized. They agree that both of these actions will be very expensive for the taxpayers, involving significant risk of large future losses, but warn that the costs of stabilizing the banks will be very large indeed, and the sooner policymakers face up to that, the better.

Regulating Insurance After the Crisis

Wed, 04 Mar 2009 00:00:00 GMT

With large and ongoing government bailouts of AIG, Robert Litan says that any reform of the nation’s financial system should include an update to the nation’s antiquated system of state insurance regulation. He believes that given the taxpayer exposure to the potential failure of large insurers—or those deemed to be “systemically important”—it is time that the federal government oversee all aspects of these operations to assure their continued solvency.

Bank Capital and the Stress Tests

Tue, 03 Mar 2009 00:00:00 GMT

The administration’s new “stress tests” for the 19 largest banks will likely result in substantial new infusions of government money to bolster their capital. Douglas Elliott explains what “capital” is; how to measure whether a bank has enough of it; and what the stress test and capital proposals are. He applauds these actions as “right on virtually all counts.”

Bank Nationalization: What Is It? Should We Do It?

Wed, 25 Feb 2009 00:00:00 GMT

Bank nationalization—the topic du jour in Washington and on Wall Street—means different things to different people. Although nationalization is a serious and extreme step with high social and financial costs, Douglas Elliott believes full nationalization may be needed only as a last resort for one or two of the nation’s larger banks, with more widespread nationalization unlikely. But, he says, it may make sense for the government to partially nationalize additional large banks now, in an effort to bring some certainty to the markets.

Fixing the Financial System

Fri, 20 Feb 2009 10:20:10 GMT

As policymakers and the public have been focused on the stimulus and the bank bailout, there remain tough policy questions about how to get at the root cause of the current economic problems – how to fix the financial system for the long-term. Director of the Initiative on Business and Public Policy Martin Baily discusses Fixing Finance: A Roadmap for Reform, laying out the long-term issues.

Bank Toxic Assets: What Role for the Taxpayer?

Fri, 20 Feb 2009 00:00:00 GMT

Critical decisions need to be made soon on the administration’s plan to create a public/private partnership to buy “toxic assets” from banks, including what the proper financial role of the taxpayer should be. Douglas Elliott argues that practical imperatives will push the government principally into the role of providing cheap financing and issuing guarantees of floor values for the securities, with little emphasis on buying assets directly as a co-investor. He believes the public should take the guarantor role, because it minimizes the potential downside for the taxpayer, although he acknowledges this is a subjective call based on tolerance for risk.

Fixing Finance: A Roadmap for Reform

Mon, 16 Feb 2009 00:00:00 GMT

As policy-makers and the public have been focused on the stimulus and the bank bailout, tough policy questions about how to get at the root cause of the current economic problems remain—how to fix the financial system for the long-term. Martin Baily and Robert Litan lay out a roadmap for reform, one that harnesses the forces of market discipline that were ignored in the run-up to the current crisis, which they say can and must be retained after the need for massive short-run government intervention has passed.

Geithner’s Multitrillion Dollar Bailout

Wed, 11 Feb 2009 00:00:00 GMT

Treasury Secretary Timothy Geithner’s $2.5 trillion bailout plan would create a public-private fund to buy up hard-to-sell assets from banks, inject more capital into banks and use Treasury and Fed money to finance up to $1 trillion in assets backed by consumer, auto and small business loans. Is this plan sufficient? Will it stabilize the financial system? Doug Elliott and other experts discuss these questions in a op-ed piece in the New York Times.

The Administration’s New Financial Rescue Plan

Tue, 10 Feb 2009 00:00:00 GMT

Doug Elliott critiques the Obama administration’s new rescue plan for the banking sector announced on February 10, saying he agrees on the need for significant new capital injections, despite their political unpopularity, but argues that it is not at all clear that the proposed “bad bank” could be designed in a way that would make it better than simply guaranteeing toxic assets on the books of the banks. Elliott writes that the devil will indeed be in the details of the construction of the bad bank and the pricing mechanisms.

TARP and the Financial Industry

Fri, 06 Feb 2009 13:20:50 GMT

As President Obama and Congress continue to consider how to jumpstart the economy, Fellow Douglas Elliott says that the plan must include dealing with the financial industry overall, its toxic assets as well as policies that work for consumers and businesses alike.

“Bad Bank”, “Nationalization”, “Guaranteeing Toxic Assets”: Choosing Among the Options

Thu, 29 Jan 2009 00:00:00 GMT

The new administration and Congress soon will be debating how to spend the TARP’s second $350 billion—and possibly even more—to stabilize the financial system. Douglas J. Elliott explains three approaches: establishing a “bad bank”; guaranteeing toxic assets; and nationalizing one or more banks, and recommends the “least bad option”—a combination of toxic asset guarantees and a mild form of nationalization.

Measuring the Cost of the TARP

Fri, 23 Jan 2009 00:00:00 GMT

The Treasury’s Troubled Asset Relief Program (TARP) has been widely described as a “$700 billion bailout” but Douglas Elliott points out that it will cost a lot less in reality. A recent CBO report suggests the actual cost may only be a quarter of the amount committed. We must use accurate cost estimates, using methods like CBO’s, to make the best decisions about the commitment to save our financial system, which programs are funded, and how we execute the rescues.

Checking in on the Bailout Package

Mon, 27 Oct 2008 00:00:00 GMT

Three weeks after the $700 billion bailout, Kai Ryssdal of Marketplace chats with Doug Elmendorf about the bailout and who's lining up to get their share.

Main Street Needs a New Stimulus

Tue, 21 Oct 2008 00:00:00 GMT

Martin Baily recommends an immediate stimulus package of $200 billion, with preparation of an additional $100 billion to be triggered if unemployment goes over 7.5 percent to prevent the U.S. economy from trending further into the danger zone.

Fed Chairman Signals Support for New Stimulus Package

Mon, 20 Oct 2008 00:00:00 GMT

Wall Street saw a boost Monday as Fed Chairman Ben Bernanke told Congress that a second stimulus bill might help the economy. Martin Baily and William Beach examine the prospects for a new stimulus plan.

Ideas for a Second Stimulus

Mon, 20 Oct 2008 00:00:00 GMT

In testimony before the House Budget Committee, Martin Baily says we need a second fiscal stimulus package to avoid a deep recession. He advocates for an immediate infusion of $200 billion, with a second $100 billion released if unemployment hits 7.5 percent. The package should include help for homeowners, tax rebates for families and aid to states and localities.

Making the Rescue Package Work: Asset and Equity Purchases

Fri, 10 Oct 2008 00:00:00 GMT

With fears of a global recession pounding markets worldwide, many are watching closely to see if the U.S. Treasury can quickly implement the recent bailout package in a way that stabilizes the financial markets and unfreezes credit. Brookings experts Martin Baily and Robert Litan take a look at the Treasury Department’s chances of success and argue that the omens thus far are “not encouraging."

Lessons From the Financial Crisis

Mon, 06 Oct 2008 00:00:00 GMT

As part of our ongoing series covering the financial crisis, Martin Baily, director of IBPP delivered a presentation at the NABE Meeting on October 6, 2008 on the cause of the current financial crisis and the domino effect that permeated the financial markets, and provided measures to be implemented to prevent another financial institution meltdown.

The Hedge Fund Game

Wed, 24 Sep 2008 00:00:00 GMT

In the latest version of Dean Foster and Peyton Young’s paper, the authors show that it is extremely difficult to devise incentive schemes that distinguish between fund managers who cannot deliver excess returns from those who can, unless investors have specific knowledge of the investment strategies being employed.

A Brief Guide To Fixing Finance

Mon, 22 Sep 2008 00:00:00 GMT

Martin Baily and Robert Litan analyze the long-term implications of recent and proposed government efforts to stabilize the markets and the economy at large. As Congress considers legislation this week, Baily and Litan stress the importance of understanding how and why the dominoes fell, and most important, they advocate important systemic fixes: transparency, institutional liquidity and better oversight and tools given to regulators.

Concerns about the Treasury Rescue Plan

Fri, 19 Sep 2008 00:00:00 GMT

Tumult in financial markets continues to rattle the nation and spur government response. Douglas Elmendorf offers his analysis on how government funds might be best injected into the crisis-ridden economy. He weighs several approaches, from buying mortgage-related debt and other troubled securities to investing in a wide range of financial institutions.

Government Bailout: Changing the Face of Capitalism

Wed, 17 Sep 2008 00:00:00 GMT

In the wake of the federal bailouts of Bear Stearns, Fannie Mae, Freddie Mac and AIG—yet no lifeline for Lehman Brothers—serious institutional questions have arisen about the government’s role in the overall economy and where Uncle Sam draws the line. Robert Litan examines the ever-changing situation and whether these actions have changed the face of capitalism as Americans know it.

The Future of Consumer Payments

Tue, 16 Sep 2008 08:15:00 GMT

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September 16, 2008, 8:15 AM to 2:00 PM

The way consumers pay for products and services is dramatically changing, with cash and checks now accounting for less than half of all transactions and falling fast. What payment technologies lie ahead and how will they change the way our economy works? Brookings’s Initiative on Business and Public Policy held an event with some of America’s leading experts—including Under Secretary for International Affairs at the U.S. Treasury Department David H. McCormick and American Express CEO Ken Chenault—on the evolution of electronic payments.

Addressing the Housing and Financial Market Crises

Tue, 16 Sep 2008 17:03:01 GMT

At a Brookings conference on consumer payments, sponsored by the Initiative on Business and Public Policy, David H. McCormick, under secretary for international affairs at the U.S. Treasury Department, addressed the current difficulties in U.S. financial and housing markets. "We are ... confident," said McCormick, "in the resilience and diversity of the U.S. economy and that we will move through these difficulties, just as we have moved through difficult periods in the past."

Crisis on Wall Street

Mon, 15 Sep 2008 16:43:54 GMT

Lehman Brothers declared bankruptcy; the federal government took control of AIG; and Merrill Lynch was bought out by Bank of America. Douglas Elmendorf examines the current situation on Wall Street and what it could mean for Main Street, and notes that the next president could face tremendous economic challenges.

The Great Credit Squeeze: How It Happened, How to Prevent Another

Fri, 16 May 2008 00:00:00 GMT

With the U.S. financial system still in a perilous state, Martin Baily, Doug Elmendorf and Bob Litan diagnose what caused the crisis and offer prescriptions for policy change. The authors of this new Brookings paper address two challenges: to resolve the immediate problems and to reduce the likelihood that these problems recur.

How the Great Credit Squeeze Happened and How to Prevent Another

Fri, 16 May 2008 10:00:00 GMT

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May 16, 2008, 10:00 AM to 12:00 PM

How could America's sophisticated financial system go so wrong and cause so much damage? Martin Baily, Douglas Elmendorf and Robert Litan answered that question in a new paper released at this public forum. The authors, following opening remarks by FDIC Chairman Sheila Bair, put forward a specific agenda of policy actions to reduce the chance that history repeats itself.

Aviation Infrastructure Performance : A Study in Comparative Political Economy

Thu, 01 May 2008 12:00:00 GMT

International transportation experts compare and contrast how different nations have managed their airports and air traffic control systems and how well they are meeting the needs of their people.

Don’t Blame the War for the Economy

Sun, 20 Apr 2008 00:00:00 GMT

Martin Baily says that while many voters view the war in Iraq and the poor state of the economy as a cause and effect relationship, they are, in fact, two very different messes.

The Response to Global Economy Issues

Fri, 11 Apr 2008 08:30:00 GMT

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April 11, 2008, 8:30 AM to 9:30 AM

The Brookings Institution and the British Embassy hosted a breakfast discussion on Friday, April 11 with the British Chancellor of the Exchequer, the Right Honorable Alistair Darling MP. The Chancellor discussed the context for this year's IMF Spring Meetings, recent financial market events, and international coordination.

Investors Need More Hedge Fund Transparency

Mon, 14 Jan 2008 00:00:00 GMT

H. Peyton Young suggests that investors should insist on greater transparency on dealing with bankers’ compensation schemes.

Hedge Fund Wizards

Wed, 19 Dec 2007 00:00:00 GMT

While many of the latest hedge fund casualties are linked to the subprime mortgage crisis, Dean P. Foster and H. Peyton Young suggest that investors should not be lulled into thinking that the problem will be solved once the mortgage mess is mopped up.

Should Sovereign Wealth Funds Be Regulated?

Thu, 06 Dec 2007 12:00:00 GMT

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December 06, 2007, 12:00 PM to 12:00

Brookings recently hosted leading economists for a discussion on the breadth and depth of sovereign wealth funds and potential regulation.

The Computer-Shaped Hole in the Patent Reform Act

Thu, 28 Jul 2005 00:00:00 GMT

Opinion by Ben Klemens (7/28/05)