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May 25, 2012
Mark Clayton: Is Hillary's State Dept. hacking Al Qaeda? Not quite
Erika Bolstad: Temple cancels Wasserman Schultz speech
The Kosher Gourmet by Ethel G. Hofman: The former president of the International Association of Culinary Professionals, whose members included the likes of Julia Child, is back with contemporary Shavous cuisine: Ruby Fruit Soup, Sweet Noodle Kugel with Cheese, Key Lime Curd, Calsone Casserole Frittata with Wild Mushrooms, Sun-dried tomatoes and Olives, Baked Tilapia with Pepper Cheese Cream and Brown Sugar Shortbread
May 24, 2012
Jeff Jacoby: The peace process battered Israel's reputation
Michael Muskal: 'Pro-choice' position hits record low, according to poll
Chris Farrell: Are We in a Tech Bubble?
The Kosher Gourmet by Penelope Wall: PHILLY CHEESE STEAKS --- hold the steak!
May 23, 2012
Tony Pugh: More private colleges offering tuition discounts
Mary Beth Franklin: How to Choose the Right Annuity for You
Tina Susman: The wig wasn't enough: Man gets 13 years for posing as his dead mom
The Kosher Gourmet by Emma Christensen:A simple way to do fish right
May 22, 2012
Warren Richey: Can US group challenge overseas surveillance act? Supreme Court to decide
Thomas M. Anderson: Walking Away From a Mortgage
The Kosher Gourmet by Megan Gordon: Enjoy a celebration of the most rich and layered flavors: Black bean, sweet potato and quinoa chili
May 21, 2012
Mark Clayton: Cybersecurity: How US utilities passed up chance to protect their networks
Howard LaFranchi: NATO summit: Who will foot the bill for long-term Afghanistan security?
Chris Farrell : Earn Dividends in Emerging Markets with This WisdomTree ETF
Stephen Whiteside, Ph.D. : Mayo Clinic Medical Edge: Social anxiety disorder --- or just shy?
Guy Jackson : Victim's father regrets death of Lockerbie bomber
The Kosher Gourmet by Mario Batali: Famed chef's veal shoulder farsumagru: A festive meat course for late spring
May 18, 2012
Rabbi Berel Wein: Striving: The People of the Book's Book for (All of) the People
Steven Goldberg: 5 Great Stock Picks and the Exchange-Traded Fund that Owns Them
Mary Pickett, M.D.: Ask the Harvard Experts: Don't be forced into gluten-free lifestyle based merely on a doctor's false-positive test
The Kosher Gourmet by Carolyn Malcoun: DIY healthy lunchbox treats: HOMEMADE FRUIT BARS for kids and brown-bagging adults alike
May 17, 2012
Warren Richey: Teacher fired for being unwed and pregnant can sue religious school, court rules
Josh Mitnick: Netanyahu's 'centrist' coalition is already proving it's anything but
Steven Goldberg: Earn Dividends in Emerging Markets with This WisdomTree ETF
Amina Khan: Research links coffee to lower death rates
The Kosher Gourmet by Faith Duran : Cheesy Potato Breakfast Casserole with Cheddar and Sun-Dried Tomatoes
May 16, 2012
Carmen Terzic, M.D., Ph.D. : Mayo Clinic Medical Edge: A variety of exercises can help improve balance
Melissa Healy: National strategy on Alzheimer's disease aims to halt it by 2025
The Kosher Gourmet by Joyce White : GOODNESS GRACIOUS: GREENS! 4 winning recipes that are no longer just for down-home folks (Includes expert tips & techniques)
May 15, 2012
Kristen Chick: Obama administration resumes arms sales to Bahrain despite serious unresolved human rights issues. Activists feel abandoned
Pat Mertz Esswein: Homes are now affordable again and mortgage rates are low. What you need to know before you buy
Kathy Kristof: Our Practical Investor Fights Inflation with These 6 Investments
Sue Hubbard, M.D.: The Kid's Doctor: Lactose intolerant young child? Check again
The Kosher Gourmet by Kathy Hunt: Spread a Little Excitement with EXOTIC CONDIMENTS (4 RECIPES)
May 14, 2012
Lisa Gerstner: How to Protect Your Identity, Finances If You Lose Your Phone
Harvard Health Letters: Heart disease and dementia
The Kosher Gourmet by Megan Gordon: MANGO COCONUT OAT MORNING MUFFINS are a bright but hearty delight
May 11, 2012
Jessica L. Anderson: Get the Best Deal on a Used Car
Jett Stone: Forget face-lifts and fake knees. Scientists have seen the fountain of youth --- and it's broccoli
The Kosher Gourmet by Chef Mario Batali: The famed chef's vegetable dish that tastes true to the season: FAVAS AND SUGAR SNAP PEAS WITH POTATOES AND TARRAGON
May 10, 2012
Sergei L. Loiko: Putin sends warning to U.S., NATO in Victory Day speech at Red Square
Mary Rourke: How being a 'mentch' got Vidal Sasoon his start and fighting in Israel's War of Independence provided him with confidence and a strong sense of his own identity
Jeff Bertolucci: Get Home Phone Service for Less Than $10 a Month
The Kosher Gourmet by Betty Rosbottom: Gleaming with its golden, crimson, and snowy white hues, this silken smooth and creamy STRAWBERRY ORANGE TRIFLE looks impressive, but is easy to prepare
May 9, 2012
Sharon Palmer, R.D. How you can reduce your risk -- or delay -- chronic diseases associated with aging
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Jewish World Review
Oct. 2, 2008
/ 3 Tishrei 5769
McCain would be wiser on regulation
By
William McKenzie
http://www.JewishWorldReview.com |
Many of us still must be wondering how this financial meltdown came up on us as fast as a storm over the Rockies, but at least we understand that we're entering a time much like the early 20th century, when regulating runaway industries became the norm.
Given what has gone on with subprime mortgages and complicated debt swaps really, does anyone understand those things? it's hard to argue against a new Progressive Era.What we have to debate is where to draw the lines, which is why this presidential race is so important.
The way the 44th president approaches the economy will influence not only the next several years, but the next several decades. What Teddy Roosevelt did in the 1900s, when he tried to regulate everything from financial abuses to the way sausage was made, set up a system still around today.
Barack Obama and John McCain accept the onset of this new era and agree that the federal government must intervene to save the economy.
But one represents a liberal party whose preference for regulation and spending he doesn't appear inclined to rein in. When asked at the debate Friday night what he would give up to make way for this $700 billion injection into the financial system, Mr. Obama talked about the spending he would protect before finally noting the savings from ending the war in Iraq.
He wasn't talking about the guts of our domestic spending, which must give to make room for the financial industry's huge mistakes.
Mr. McCain represents the party of conservatism but has shown himself willing to break conservatism by favoring limits on corporate power. Unlike some conservatives, he has advocated for greater limits on executive pay while also favoring government stepping in to rescue financial houses.
At the same time, he would freeze spending to make room for the $700 billion bailout. During Friday's debate, he listed specific programs that he would eliminate, like funding for ethanol.
In this sense, Mr. McCain is like his hero, Mr. Roosevelt. When Lewis Gould was teaching history at the University of Texas, he wrote in The Progressive Era that when Mr. Roosevelt left the presidency, "he wrote that it had been his business 'to take hold of the conservative party' and make it 'a party of progressive conservatism.' "
So that's our setup. The party of liberalism versus the party of conservatism, each one trying to figure out how to usher in this new era.
We need smart change. The rush to regulate is understandable, but we must avoid the mistakes made in old era of deregulation. No, you can't have an economy without rules, but you can't have one with so many that they choke things off, either.
For example, the proposal to let government own a share of the lending institutions it's bailing out should worry us. Taxpayers understandably want some upside from putting their money on the line, which is why both nominees and President Bush favor equity positions for the feds.
But former Dallas Mayor Steve Bartlett, who now heads the Financial Services Roundtable which consists of big financial players like Citigroup and JP Morgan Chase raised a good point last week: How can government regulate an institution it owns? If anyone has an answer, I'm all ears.
Wall Street undoubtedly has lost its swagger, largely because of its own arrogance. Washington now has the upper hand.
The way the next president plays that hand will determine how quickly Wall Street returns as a center of power. Tremendous intellectual creativity goes on there, so we need it to re-emerge. Washington must guard against its excesses; we all lose if this new Progressive Era strangles our economy.
Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.
William McKenzie is an editorial columnist for The Dallas Morning News. Comment by clicking here.
08/27/08: Can Obama score among values voters?
08/20/08: McCain needs to push health care edge
08/06/08: How Bush can help McCain
04/09/08: To win, McCain must take his party in a bold, daring direction
03/26/08: To win, McCain must take his party in a bold, daring direction
01/30/08: Finally, Bush speaks up for relevancy
01/24/08: After Bush, who's going to crusade for education?
12/20/07: Candidates who prey on fears may generate votes at this moment in our cycle, but we really need to think hard about how far inward we turn
10/30/07: Is America building an empire? That is a central question for the next presidents
08/28/07: Don't let Gonzales' record taint all Bush appointees
08/16/07: Rove was half right: He got the big picture, but didn't belong in the White House
02/01/06: GOP needs changes, but it can't forget the big picture
03/31/05: Mexico fixes problems when it wants to
12/06/04: Bush's new team has a Texas feel
11/08/04: Second chances shouldn't be wasted
08/25/04: Bush could profit from being like Ike
© 2008, The Dallas Morning News Distributed by McClatchy-Tribune Information Services.
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