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May 24, 2013

Rabbi Tzvi Hersh Weinreb: When I didn't so 'humbly disagree'

Caroline B. Glick: Thank you, Hafez al-Assad

Diana West: From the Brooklyn Bridge to London
Morgan Housel: Why spotting bubbles is so much harder than you think

Environmental Nutrition editors: NuVal labeling to the rescue?

Jewz in the Newz by Nate Bloom : Memorial Day: Jews Serving and KIA in War on Terror; Liberace Bio-Pic; Jew Wins "Survivor"; Shalom, Dr. Brothers; More

The Kosher Gourmet by Emma Christensen: HIDE THESE FROZEN TREATS FROM THE KIDDIES!: Sangria pops; Irish cream pudding pops; mango Lassi pops

May 22, 2013

John Thorne: They launched the 'Arab Spring' but now yearn for the good old days of a strongman

John Rosemond: 'Disciplinary math' adds up to parental successl

Warren Richey: Are prayers before public meetings OK? Supreme Court to decide
Rick Montgomery: Use of ADHD drugs as study aid raises concern on campuses

Brierley Wright, M.S., R.D.: 6 convincing reasons you should keep carbs in your diet

Eoin O'Carroll: Scientists examine nothing, find something

The Kosher Gourmet by Carole Kotkin: This soup is made from one of the great pleasures of spring: A wonderful pairing of rosy color and earthy tang

May 20, 2013

Richard A. Serrano: Is Meir Kahane's assassin now a changed man?

Hannan Adely: Town raises Palestinian flag at City Hall

Melissa Healy: Genetic copies of living people from embryos no longer science fiction
Morgan Housel: When smart investors do stupid things

Sharon Saloman, M.S., R.D.: Hunger games: Eat more, weigh less, without starving

Jewz in the Newz by Nate Bloom : Jews Inducted into Rock Hall of Fame; Anton Yelchin co-stars in New "Trek" film; Kutcher (but not Kunis) visits Israel; Jewish TV Star Praises Jewish Rap Star

The Kosher Gourmet by Cathy Pollak: WARNING: This WALNUT CAKE WITH PRALINE FROSTING, perfect for afternoon coffee, is addicting

May 13, 2013

Rabbi Nathan Lopes Cardozo: Why the giving of the document that would permanently change the world could only be done in desolation

David G. Savage: Church-state, literally? Supreme Court weighing public school graduation in a church

Emily Alpert: Recession dragged down birth rates for less-educated women
Morgan Housel: The deep downside of home ownership

Peter Teffer: Will Dutch police soon be stalking cybercriminals on your computer?

Heidi McIndoo, M.S., R.D.: Meatless 'meat' can have its own set of problems

The Kosher Gourmet by Diane Rossen Worthington: Celebrate! This must-try appetizer is delicate yet has depth of flavor: Corn-Leek Cakes with Caviar, Smoked Salmon and Creme Fraiche

May 10, 2013

Rabbi Berel Wein: Be all that you should be

Caroline B. Glick: The dirty little secret about Israel's Arabs

Mona Charen: Hawking's Moral Calculus: The man and the movement he embraces
Morgan Housel: The biggest retirement myth ever told

Sandi Doughton: Eyes may provide new insight into brain problems

Jewz in the Newz by Nate Bloom : The Great Gatsby's Jewish Ties; Jews in the "Time 100 list" List; People's Most Beautiful Women

The Kosher Gourmet by Linda Gassenheimer: A sweet-hot meal: Pear salsa spices up salmon

May 8, 2013

Peter Ford: Why China is welcoming both Israel's Netanyahu and Palestinians' Abbas

Warren Richey: Obama administration quietly backs out of appeal over new contraceptive mandate

Fred Weir: At Kerry-Putin meeting, US-Russia relations thaw --- a tad
Amanda Paulson: Study reveals sad truths about community colleges

Harvard Health Letters: Evidence weak that zinc, echinacea are beneficial

The Kosher Gourmet by Leela Cyd Ross : Almost too pretty to eat, this colorful salad with Sicilian inspiration will tickle the taste buds and delight your visual sensibility

May 6, 2013

Edmund Sanders and Patrick J. McDonnell: Think Israel's objective in Syria is to weaken Assad or embolden the rebels? Think again

Brian Bennett: Israeli airstrikes may show weakness in Syrian defense

Michael Ollove: Millions of ex-felons, parolees and those on probation are about to be entitled to tax-payer paid health coverage
Karen Kaplan: Most men can skip PSA test for prostate cancer, urologists say

Kimberly Lankford: How to track down a lost life insurance policy

Dream of Mars exploration achievable, experts say

The Kosher Gourmet by Susan M. Selasky: EGGPLANT WRAPS are an easy, sumptuous and scrumptious meal

May 3, 2013

Rabbi Nathan Lopes Cardozo: Human Courage and the Unavoidable, Disturbing Text

Steven Emerson: Attorney General Fights CAIR in Court, Lauds it in Public

Mediterranean diet helps beat dementia: study
Harvard Health Letters: When to be screened for a hearing problem

Jewz in the Newz by Nate Bloom : Iron Man's Jewish Connections; Marc Maron's New TV Show; Martin Landau Grows Up with Israel; Shalom, Allan Arbus

The Kosher Gourmet by Diane Rossen Worthington: A sweet surprise for Mother's Day dessert

May 1, 2013

Jonathan Rosenblum: An Improbable Journey to Orthodoxy

Jonathan Tobin: Blame Obama, Not Israel for Syria Push

Kids, kittens the Same? With employee perks at struggling Internet pioneer Yahoo! it's hard to tell
Halena M. Gazelka, M.D.: Mayo Clinic Medical Edge: What you need to know about implanted pain relief devices

Sandy Kleffman: Artificial kidney offers hope to patients tethered to a dialysis machine

Jessica Shugart: When it comes to math, MRIs may be better than IQs

The Kosher Gourmet by Mario Batali: The celebrated chef on how high-maintenance ASPARAGUS RISOTTO need not be

April 29, 2013

Roy Gutman: Poland's new Jewish museum celebrates life, doesn't revisit Holocaust

Mark Clayton: Terrorism in America: Is US missing a chance to learn from failed plots?

Kim Murphy: Boston Bomber's 'Svengali' Revealed
Morgan Housel: He's rich, smart and old: Listen to him

Thomas Salinas, D.D.S.: Mayo Clinic Medical Edge: The safety of amalgam fillings

Harvard Health Letters: Tomatoes and stroke protection

Pete Spotts: Tiny satellites + cellphones = cheaper 'eyes in the sky' for NASA

The Kosher Gourmet by Diane Rossen Worthington: Swing into spring with lemon cream pie

April 26, 2013

Rabbi Abraham J. Twerski: The world is a mirror

Caroline B. Glick: Time to confront Obama

Clifford D. May: Defense in the Age of Jihadist Terrorism
Kimberly Lankford: New strategies ease pain of paying for long-term care insurance

Howard LeWine, M.D.: Ask the Harvard Experts: Too much ibuprofen?

Sharon Palmer, R.D.: How to feel your best -- with plenty of energy, a healthy weight and optimal mental and physical function -- without driving yourself batty

Jewz in the Newz by Nate Bloom: Jewish Major Leaguers, 2013; New Movies and Comedy Show; Shalom, 'Lumpy' (Leave it to Beaver)

The Kosher Gourmet by Emily Ho : A bright and cheerful salad to herald the warmer months ahead

April 24, 2013

Steven Emerson: Boston Bomber Exposes Islamist Secret

Morgan Housel Admit it: No one has any idea what's going on
Harvard Health Letters: Can you get headaches from headache medication?

Kerri-Ann Jennings, M.S., R.D.: How to easily get more Omega-3s in your diet

Melissa Healy: Pot in a pill: All the pain relief without the smoke

The Kosher Gourmet by Susan Russo: Chipotle Chili Butternut Squash Soup is bold, zesty, hot

April 22, 2013

Ken Dilanian: Counterterrorism's future is unclear

US man departing country arrested on terror charges
Barbara Williams: An unorthodox but growing treatment in a 9-year-old's battle against cancer

P.J. Skerrett, M.D.: How to recognize a good whole grain product

Jewz in the Newz by Nate Bloom: Teen actor Jonah Bobo in New Flick: Hunky James Wolk on Mad Men; Erich Segal's Daughter Writes Prize-Winning Jewish Novel


Jewish World Review June 17, 2009 / 25 Sivan 5769

A fine madness in the Washington air

By Tony Blankley


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http://www.JewishWorldReview.com | To borrow Niall Ferguson's metaphor, if finance is an evolutionary process, then regulation is its intelligent design — which, I would add, is a cognate of faith, not science.


Or, to take the observation of former Federal Reserve Governor Frederic Mishkin, if "the financial system (is) the brain of the economy," then, I would suggest, heavy regulation is its lobotomy; while it removes the emotional highs and lows, it also dulls the perception, facility and adroitness. (Disclosure: In keeping with my long-held public view, I give professional advice to financial institutions seeking low regulation and taxation.)


A century ago, medical science had faith in lobotomies. Today, it seems, Washington political science has faith in new financial regulation.


Medical science began to gain wisdom when it learned what previously unrealized damage it caused when it lobotomized human brains. We must hope that the "experts" today who are drafting new regulations by which they would impair our financial system gain wisdom soon by recognizing how little they understand the effects of these new regulations on our economy's future health.


However, the current financial regulatory efforts in Washington may not even deserve the honor of being compared to intelligent design or a lobotomy. At least with those two processes, each has the intellectual dignity of an internal logic — even if that logic does not accurately describe the reality it attempts to explain and manipulate.


Rather, the current likely financial regulatory efforts have an almost random nature to them, as the legislative logrolling is collecting unrelated and sometimes-inconsistent ideas that eventually will be called, I assume, the Frank/Dodd Comprehensive and Rationalized National Financial Redemption Act of 2009.


The final bill will be the compilation of the results of various political battles being fought among the president, his various White House economic and political advisers, the Treasury and various powerful committee and subcommittee chairmen in the House versus their equivalents in the Senate, as well as the successful interventions of various interests, the institutional partial victories that are gained in the battles among the half-dozen or so overlapping financial regulatory agencies in existence, plus whatever the whimsical effects are of the backbenchers, the states, the commentators, the media and, of course, the public.


Even if 10 of the smartest financial regulation experts in the world got in a room and wrote an internally consistent set of regulations, if history is any guide, it would not be likely to anticipate, avoid or mitigate whatever the next financial crisis would be. As Ferguson wrote in "The Ascent of Money," "It seems that, for all our ingenuity, we are doomed to be 'fooled by randomness' and surprised by 'black swans.'" (See — and read — two of Nassim Nicholas Taleb's intriguing books, "Fooled by Randomness: The Hidden Role of Chance in Life and in the Markets" and "The Black Swan: The Impact of the Highly Improbable.")


According to a study of financial data of the past two centuries, there is a 3.6 percent per annum probability of a financial disaster and, statistically, a 100 percent probability of a new financial disaster within 33 years.


Treasury Secretary Timothy Geithner — who is the lead executive-branch figure designing new regulations to protect us from the kind of systemic risk of failures by large institutions that we have just experienced and are trying to work our way through — inadvertently captured perfectly the madness of the current Washington moment.


Geithner was quoted in last Wednesday's Financial Times: "I think this has been a searing experience for financial institutions across the world. The great risk we're going to live with for a very long time is that risk aversion remains very high."


I happen to agree with him and made a similar observation in a column last month. But I wonder when it will dawn on the secretary that he is leading the team designing a regulatory system to protect us from "greedy" and impetus-excessive financial risk takers destroying the world economy, when, as he himself pointed out, the real next risk is probably "risk-averse" bankers failing to make even sufficient prudent loans and investments.


In other words, he is designing regulations that will force more prudence and even slower and less circulation of needed money on a system that he believes is already predisposed to be too prudent and too slow and will circulate too little money to keep our economy humming.


Realists like to point out that most generals think they are fighting the last war and thus lose the one they are in. So today, Washington is busy preparing to protect our future economy — which is likely to be stagnant, risk-averse and weighted down with excessive debt, high taxes, expensive energy and industrial policy crony capitalism inefficiencies — from yesterday's financial impetuosity and excessive risk taking. Thereby, we will increase the stagnation, risk aversion and middle-class poverty such habits will cause. Washington isn't writing a financial regulation; it is weaving an economic shroud.

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Tony Blankley is executive vice president of Edelman public relations in Washington. Comment by clicking here.

© 2009, Creators Syndicate

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