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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
Failing
Reserve
Plans
Reserves
Risk
Banks
Might
Federal
Administration
Fail
Systemic
Obama
Regulate
Plan
Pose

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I was in a bad mood when I wrote that.
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The pursuit of the vibrant seems to be the universal job description of the nation's city planners nowadays. It is also part of the Obama administration's economic recovery strategy for the nation.
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For-profit higher education is today a booming industry, feeding on the student loans handed out to the desperate.
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These days, of course, the focus of talk about popular liberation through products is mostly associated with the Internet. I've been collecting computer ads and ads dealing with Internet industries.
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As you watch the world crumble, try taking your Armageddon with this sprinkling of irony: Over the last three decades, business has got virtually everything it wanted, and its doomsday scenario from the 1970s has come true because of it.
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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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The revival of the Right is as extraordinary as it would be if the public had demanded dozens of new nuclear plants in the days after the Three Mile Island disaster if we had reacted to Watergate by making Richard Nixon a national hero.
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This aesthetic quality, then, is what politics is all about. It's authenticity that separates winners from losers, good politics from bad, and he-man leader-types from consultant-directed puppet-boys.
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When done right - or wrong, depending on how you look at it - deficits remove liberal options from the table. Suddenly there's no money for building bridges or inspecting meat. Not surprisingly, running up a deficit is a strategy favored by the wrecking crew for its liberal-killing properties.
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I was never a fan of Barack Obama's bipartisanship routine.
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We have become a society that can't self-correct, that can't address its obvious problems, that can't pull out of its nosedive. And so to our list of disasters let us add this fourth entry: we have entered an age of folly that - for all our Facebooking and the twittling tweedle-dee-tweets of the twitterati - we can't wake up from.
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Back in the days when the market was a kind of secular god and all the world thrilled to behold the amazing powers of private capital, the idea of privatizing highways and airports and other bits of our transportation infrastructure made a certain kind of sense.
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There is something uniquely depressing about the fact that the National Portrait Gallery’s version of the Barack Obama “Hope” poster previously belonged to a pair of lobbyists. Depressing because Mr. Obama’s Washington was not supposed to be the lobbyists’ Washington, the place we learned to despise during the last administration.
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During the financial crisis and bailouts of 2008, it probably occurred to very few average people that we were entering a period of hardship for billionaires.
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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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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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The great fear that hung over the business community in the 1970s was death by regulation, and the great goal of the conservative movement, as it rose to triumph in the 1980s, was to remove that threat - to keep OSHA, the EPA, and the FTC from choking off entrepreneurship with their infernal meddling in the marketplace.
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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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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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Vibrancy is so universally desirable, so totemic in its powers, that even though we aren't sure what the word means, we know the quality it designates must be cultivated. The vibrant, we believe, is what makes certain cities flourish.
Thomas Frank