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

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Conservatism is not a doctrine of contentment. Not a doctrine for the satisfied and the smug. It's a politics that's at war with the world.
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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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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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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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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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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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I think the WikiLeaks releases furnish us with an opportunity to observe the upper reaches of the American status hierarchy in all its righteousness and majesty. High-achieving colleagues attempting to get jobs for their high-achieving children. Foundation executives doing fine and noble things. Prizes, of course, and high academic achievement.
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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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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.
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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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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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Mounting a campaign against plutocracy makes as much sense to the typical Washington liberal as would circulating a petition against gravity. What our modernized liberal leaders offer is not confrontation but a kind of therapy for those flattened by the free-market hurricane: they counsel us to accept the inevitability of the situation.
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I was never a fan of Barack Obama's bipartisanship routine.
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People are born in a certain place, and in a certain society. I don't mean to sound like a determinist, but to think we're entirely free to do whatever we want betrays a certain class perspective. For most people who have to work for a living, and work at jobs under conditions they may not like, it's just not simple when it comes to freedom.
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People getting their fundamental interests wrong is what American political life is all about.
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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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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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Conservatives may believe that impoverished borrowers destroyed Wall Street. But we liberals will not fool ourselves that stupid bankers sank conservatism for good.
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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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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.
Thomas Frank