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The Obama administration's plan is to have the Federal Reserve regulate banks that might pose a 'systemic risk' if they were to fail.

Thomas Frank

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Thomas Frank
Age: 59
Born: 1965
Born: March 21
Historian
Journalist
Kansas City
Missouri
Thomas Carr Frank
Plan
Pose
Failing
Reserve
Plans
Reserves
Risk
Banks
Might
Federal
Administration
Fail
Systemic
Obama
Regulate

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It is always a disappointment to turn from forthright consideration of some subject - whether from the Left or the Right, a poet or a plumber - to the Beltway version, in which the only aspects of the issue that matter are the effects it will have on the fortunes of the two parties and the various men in power.
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Whereas liberals are thought to erupt self-righteously whenever they feel like it, conservatives believe that they themselves are never permitted to say what they really think.
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The only truly individualistic health-care choice - where you receive care that is unpolluted by anyone else’s funds - is to forgo insurance altogether, paying out-of-pocket for health services as you need them.
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Joe Klein is the flower of American political journalism, a sharp raconteur who shows traces of the gonzo style that was in vogue when he was honing his craft at Rolling Stone back in the day.
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A lot of populists after populism died just became socialists. At the beginning of the 20th century, socialism looked like it was going to take off. It didn't, of course, but a lot of people thought it was going to.
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When the entertainers of the right aren’t declaring their disgust with President Obama for groveling before foreign potentates, they’re pretending to fear him as a left-wing thug, an exemplar of what they call “the Chicago way.”
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Yes, Democrats can prove that America pays more for health care than other countries yes, they have won the dispute that private health insurance is needlessly expensive. But what they've lost is the argument that we are a society.
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Journalism has a special, hallowed place for stories of its practitioners' persecution.
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There is much to dislike about President Obama's approach to the financial crisis. But opposition, it seems, will have to come from somewhere other than conservatism. The party out of power is also a party out of touch.
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Thanks to a deal finalized in 2008, Chicago’s parking meters will be operated for the next 75 years by a group of investors put together by Morgan Stanley, including the sovereign wealth fund of Abu Dhabi.
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Americans have known about mounting inequality and king-sized Wall Street bonuses for years. But we also had an entire genre of journalism dedicated to brushing the problem off.
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Government is, by its very nature, a destroyer of liberties the Obama administration, specifically, is promising to interfere with the economy and the health care system so profoundly that Washington will soon have us all in chains.
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Most of Roosevelt's innovations have been the law of the land for 70 years now, and yet we are still a free society free enough, that is, to allow tens of thousands of protesters to gather on the National Mall and to broadcast their slogans and speeches to the world via C-SPAN.
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In small towns, bored teenagers turn their eyes longingly to the exciting doings in the big cities, pining for urban amenities like hipster bars and farmers' markets and indie-rock festivals. Like everyone else, they want the vibrant and they will not be denied.
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When money is exchanged for pregnancy, some believe, surrogacy comes close to organ-selling, or even baby-selling.
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If your purpose is to understand the clique of people who dominate Washington today, the emails that really matter are the ones being slowly released by WikiLeaks from the hacked account of Hillary Clinton's campaign chair John Podesta.
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In the last James Bond movie, the villain was a culture captain, a tycoon of culture, a Murdoch figure. It's not as if people don't know what is going on.
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One of the things I keep coming back to in my writing is that society doesn't work on this mirror principle - you don't have an exact replica on the left of what you have on the right. It just doesn't work that way.
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Republicans run the machine when it's their turn, and then hand the wheel over to Democrats when the public has had enough.
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People getting their fundamental interests wrong is what American political life is all about.
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