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

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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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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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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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Under the administration of George W. Bush, you will recall, federal spending grew pretty significantly. At the same time, the number of people directly employed by the federal government shrank. One of the factors that explained the difference was contracting.
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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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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.
Thomas Frank
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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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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.
Thomas Frank
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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.
Thomas Frank
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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.
Thomas Frank
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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.
Thomas Frank
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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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Money never seems to be interested in strengthening regulatory agencies, for example, but always in subverting them, in making them miss the danger signs in coal mines and in derivatives trading and in deep-sea oil wells.
Thomas Frank
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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.
Thomas Frank
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People getting their fundamental interests wrong is what American political life is all about.
Thomas Frank
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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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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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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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When money is exchanged for pregnancy, some believe, surrogacy comes close to organ-selling, or even baby-selling.
Thomas Frank
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Acknowledging class was always difficult for 'New Democrats' - it was second-wave, it was divisive - but 2008 made retro politics cool again.
Thomas Frank