Tagging the Taxpayer
Quoting from this article, “The best institutions are the losers when government expands deposit insurance. Their natural advantage in attracting business over poorly run banks is lost when the government puts a uniform safety net under everybody. Taxpayer support should not be the gift that keeps on giving.”
Cox and Archer: Why $16 Trillion Only Hints at the True U.S. Debt – WSJ.com.
“Hiding the government’s liabilities from the public makes it seem that we can tax our way out of mounting deficits. We can’t.”
Intrade Won’t Take U.S. Bets
“Intrade said it would no longer accept bets made by U.S. residents, a move that came just hours after U.S. regulators filed a civil complaint against the company over its commodities-focused markets.” It will be interesting to see the impact that this will have upon the level of interest in and reliability of prediction markets for US-centric events, which make up the lion’s share of Intrade contract offerings.