MedWorm provides a medical RSS filtering service. Over 6000 RSS medical sources are combined and output via different filters. This feed contains the latest medical blog items that have been tagged with 'credit'. Sat, 03 Sep 2011 01:56:42 +0100 http://www.medworm.com/index.php?rid=5159834&cid=t_140769_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FOa5-_YVQ_fM%2F And so another working week is about to draw to a close. This is, of course, our signal to daydream about weekend plans. Our modest agenda includes shuttling one of our short people off to an institution of higher learning, catching up on some reading and then bracing for a hurricane. Big fun, as they say. And what about you? Will you be boarding windows? Evacuating the homestead? For those of you in other locales, perhaps this slow time of the year is ripe for a pleasant drive or an outdoor event. Whatever you do, enjoy and be safe. See you soon… UK Probes How Medications Were Switched (BBC) Cipla Seeks Partners, Not Divestitures (Pharma Times) Shire Wins Approval Of Anti-Swelling Drug (Bloomberg News) Surgical Mesh Devices Should Be Banned: Watchdog Group (Star-Ledger of NJ) FDA Ap... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=5159834 Fri, 26 Aug 2011 12:09:55 +0100 5159834 http://www.medworm.com/index.php?rid=5103486&cid=t_140769_136_f&fid=37850&url=http%3A%2F%2Fwww.carinforkaren.com%2Fblog%2F%3Fp%3D1730 make sure to get some work gloves, There are various motives for homeowners to refinancing: to secure a favorable rate, after a property repossession, cash advance loans athens alabamaauto insurance reform, S. WSJ. payday loans poor credit Wal-Mart provides cheap and suitable clothing for kids. 354751440 cash advance online including on [...] (Source: Carin' For Karen) Carin' For Karen blogs http://www.medworm.com/rss/comments.php?id=5103486 Sun, 07 Aug 2011 07:35:50 +0100 5103486 http://www.medworm.com/index.php?rid=5103326&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FuHWTMteFnt0%2F By Caleb O. Brown… which makes this video out of date by about 20 minutes, but it’s instructive nonetheless. U.S. Credit Rating Downgraded by S&P is a post from Cato @ Liberty - Cato Institute Blog (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5103326 Sat, 06 Aug 2011 00:36:50 +0100 5103326 http://www.medworm.com/index.php?rid=5096175&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FijhtsfNNy8E%2F By Caleb O. Brown This week’s bipartisan deal to raise the debt limit will do little in the way of actual spending cuts, it defers all the tough decisions on spending and debt to a “SuperCongress” committee and the deal will do little to protect the United States credit rating. Cato’s Dan Mitchell, Jagadeesh Gokhale and Chris Edwards comment on the debt deal. On Debt Ceiling, Congress Kicks the Can is a post from Cato @ Liberty - Cato Institute Blog (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5096175 Tue, 02 Aug 2011 18:06:07 +0100 5096175 http://www.medworm.com/index.php?rid=5028138&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyZZPNvIJeBs%2F By Mark A. CalabriaIt’s probably never wise to inject oneself into the middle of a food fight, but since I think both sides actually have something right and something wrong, its been a worthwhile debate to follow.  That is the ongoing debate between Peter Wallison at the American Enterprise Institute and David Min at the Center for American Progress (at least we can all agree we love America) on the role of Fannie Mae (and Freddie Mae) in the financial crisis.  If you can’t guess, Peter says Fannie/Freddie caused the crisis, David says they didn’t. David makes an interesting point, one I’ve actually argued, in his latest retort.  That is, this wasn’t exclusively a housing crisis/bubble.  Other sectors, like commercial real estate, boomed and then went bus... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=5028138 Fri, 15 Jul 2011 12:40:43 +0100 5028138 http://www.medworm.com/index.php?rid=4984420&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F88D76K8odRU%2F By Adam SchaefferA huge school choice opportunity has been lost for the moment in Pennsylvania. But that lost opportunity is not the voucher program that has  drawn so much attention. The political conflagration touched off by the push for a targeted, failing-schools voucher program incinerated along with it a massive expansion of an existing, popular, successful, bipartisan-supported, and better program; the Educational Improvement Tax Credit (EITC). The House passed this expansion of credit program by a massive margin. And when I say “massive,” I mean 96 percent in favor to 4 percent opposed. Unfortunately, a stand-alone credit bill was not considered in the Senate, and the expansion fell by the wayside as the voucher battle raged. In the next session, it would be good policy and po... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4984420 Thu, 30 Jun 2011 14:57:59 +0100 4984420 http://www.medworm.com/index.php?rid=4952807&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwsPZxFTvNJQ%2F By Steve H. HankeThe rate of broad money growth (M3) in the United States is weak (see the accompanying chart).  The ultra-low federal funds rate (0.25%) has acted to keep a lid on broad money growth and, in turn, economic activity.  Yes, “low” interest rates imposed by the Fed are contributing to a credit crunch and anemic money growth.  But, wait.  This is counter-intuitive.  And if that’s not enough, it’s not what the textbooks tell us, either. While the Fed has pumped huge quantities of so-called high powered money into the economy, the U.S. is paradoxically facing a credit crunch.  Banks have utilized their liquidity to pile up cash and accumulate government bonds and securities.  In contrast, bank loans have actually decreased since May 2008.  And since credit is a s... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4952807 Mon, 20 Jun 2011 00:45:07 +0100 4952807 http://www.medworm.com/index.php?rid=4841451&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwW03XIpnT-Y%2F By Andrew J. CoulsonOklahoma has just joined the ranks of a half-dozen other states by enacting a K-12 education tax credit program. Under the new program, individuals or businesses that donate to non-profit School Tuition Organizations receive a tax cut worth 50 percent of the donation. STOs then use the funds to help low income families afford private schooling. Journalists for the Associated Press and countless other media outlets routinely refer to donations made under education tax credit programs as “state money.” According to the United States Supreme Court’s recent ACSTO v. Winn decision, “that is incorrect.” This is a matter of settled law. To call these private donations “state money” is to misrepresent the facts and mislead readers. It w... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4841451 Tue, 17 May 2011 13:13:01 +0100 4841451 http://www.medworm.com/index.php?rid=4829022&cid=t_140769_112_f&fid=34971&url=http%3A%2F%2Fblog.drmalpani.com%2F2011%2F05%2Fgreat-customer-service-from-citibank.html I am a CitiGold customer, and had some issues with the billing on my credit card which had not been resolved for quite a few months.I spoke to my Relationship manager, who promised to fix the problem. I am very confident she'll take care of this - but what I really liked is the fact that I can reach out and talk to a human being who will take ownership of the problem and solve it for me.It's such a pleasure to receive good customer service - it's become so rare these days ! (Source: The Patient's Doctor) The Patient's Doctor blogs http://www.medworm.com/rss/comments.php?id=4829022 Sat, 14 May 2011 10:08:00 +0100 4829022 http://www.medworm.com/index.php?rid=4789640&cid=t_140769_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2Fn0IGPxirKGw%2F Two months ago, Pfizer signaled interest in selling or spinning off some of its so-called ‘non-core’ businesses - those that are not involved in brand-name pharmaceuticals. These would include the nutritionals, consumer health and animal health units, and possibly a generics operation. A business that makes capsules has already been sold (back story here and here). The rationale for this notion, of course, would be to unlock the underlying value in each entity and reward shareholders. But one Wall Street credit analyst cautions that divesting non-pharma businesses comes with risks. “Unless companies use the proceeds from asset sales to repay debt, or unless the businesses being sold are underperforming expectations and are a distraction to management, the credit implicati... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=4789640 Wed, 04 May 2011 13:56:35 +0100 4789640 http://www.medworm.com/index.php?rid=4753674&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FLEordRvBfBk%2F By Adam SchaefferA new voucher program in Indiana looks likely to be signed by Gov. Daniels soon, but without a slight modification it may not have the benign budgetary impact that is expected. As written, the program could have a significant negative impact on state finances if families claim both the vouchers and funds from the state’s existing education tax credits. There is nothing that precludes children who receive a voucher from also topping off that amount with private funds from the existing education tax credit program. That means a voucher student could accept, for example, $4,500 in government funds and then apply for a tax credit scholarship that reduces state revenue by, say, $2,000. The voucher student would cost the state $6,500, not the $4,500 that would be counted on th... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4753674 Mon, 25 Apr 2011 20:54:49 +0100 4753674 http://www.medworm.com/index.php?rid=4704623&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FqcSF7vmhmLw%2F By Andrew J. CoulsonRhee, the former chancellor of DC Public Schools, and Moskowitz, head of a NYC charter school, were asked at an event last week what they thought of the Supreme Court decision upholding  Arizona’s K-12 scholarship donation tax credit program. The program offers a dollar-for-dollar tax cut to anyone who donates to a non-profit Scholarship Tuition Organization (and the STOs then help families pay for private school tuition). Children’s Scholarship Fund president Darla Romfo asked the question, and here’s the answer she received. Michelle Rhee and Eva Moskowitz on School Choice is a post from Cato @ Liberty - Cato Institute Blog (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4704623 Tue, 12 Apr 2011 14:45:15 +0100 4704623 http://www.medworm.com/index.php?rid=4684275&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSsyvt4Ux5TU%2F By Andrew J. CoulsonJustice Kagan's dissent yesterday in the Supreme Court ruling upholding Arizona's education tax credits seems to me so obviously mistaken on both the facts and the law that I feel I must be missing something. I offer my initial analysis briefly below, and if anyone can tell me if/where I'm going wrong, my e-mail address is just a Google away. First, Kagan and her fellow dissenters express dismay at the putative novelty of the majority's distinction between tax credits and government spending. But, more than a decade ago, this very same distinction was acknowledged by the Arizona Supreme Court in Kotternman v. Killian, and that AZ Court ruling itself cites a string of precedents from around the country supporting it. Clearly, the majority's ruling is far from novel, and ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4684275 Tue, 05 Apr 2011 20:42:38 +0100 4684275 http://www.medworm.com/index.php?rid=4676755&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FXa1GjVtc2HM%2F By Adam SchaefferToday, the Supreme Court of the United States issued the Zelman decision for education tax credits. More than that, it's Super-Zelman. The findings in Zelman apply just as well to education tax credit programs, but only credit programs allow taxpayers to spend their own money on education. As Andrew Coulson explained in detail earlier, the Court ruled that education tax credits are not government funds, and the plaintiffs therefore have no standing to bring suit in the first place. They were not harmed because none of their money was collected and then disburse by the state. Children are rightly our primary concern, but taxpayers deserve more consideration than they often get in debates over education reform. Education tax credit programs can expand educational choice and ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4676755 Mon, 04 Apr 2011 18:00:51 +0100 4676755 http://www.medworm.com/index.php?rid=4676757&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FhMTm8pmALyQ%2F By Andrew J. CoulsonRuling in ACSTO v. Winn today, the United States Supreme upheld Arizona's k-12 scholarship tax credit program. Under this program, individuals receive a tax cut if they donate to a non-profit scholarship fund that gives out private school tuition aid. Today's decision, a reversal of an earlier ruling by the 9th Circuit, found that the respondents had no right to sue to stop the AZ program because they have not been harmed by it. And the reason they have not been harmed is central to why, for nearly 20 years, I have favored education tax credit programs over both traditional public schooling and voucher programs. Respondents alleged that cutting a person's taxes is equivalent to spending government money -- and since taxpayers are receiving credits for donations to relig... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4676757 Mon, 04 Apr 2011 15:56:43 +0100 4676757 http://www.medworm.com/index.php?rid=4642595&cid=t_140769_87_f&fid=39187&url=http%3A%2F%2Fgetbetterhealth.com%2Fverification-the-new-scam-in-town%2F2011.03.27 There’s a new scam in town. Company calls over and over again (claiming to be the phone company, actually) just wanting to “verify your address”. Over and over again they get told we aren’t interested, leave us alone, don’t call. Finally, my solitary staffer gets sick of fending them off and goes through their voice activated “address verification”, during which a mechanical voice asks questions, followed by a command to “Say Yes or No, then press the pound key.” So she goes through the innocuous questions, including her full name, the office address and phone number, plus several iterations of saying “Yes or No, then press pound.” The calls stop; everyone is happy. Until I get the phone bill six weeks later. Lo and behold, there is an extra $49.99 charge (plus tax) f... Better Health blogs http://www.medworm.com/rss/comments.php?id=4642595 Sun, 27 Mar 2011 20:00:37 +0100 4642595 http://www.medworm.com/index.php?rid=4545010&cid=t_140769_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2011%2F03%2F03%2Fcultivating-creativity-every-day%2F On June 4, 2007 artist Noah Scalin created a skull on his blog and promised to create a different skull every day for a year. He did. He created a variety of skulls: everything from his first orange paper skull to a flower skull to a PB&J skull to a skull made out of pennies. That’s 365 skulls and counting. (He continues the project today with submissions from readers.) His daily project inspired the book 365: A Daily Creativity Journal: Make Something Every Day and Change Your Life! In it, Scalin encourages readers to create their own year-long project. He shares one suggestion each day to help spark readers’ imaginations. He writes that “a daily project is a personal journey that can offer you a rare opportunity for self-discovery and personal growth with tangible results�... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=4545010 Thu, 03 Mar 2011 22:35:58 +0100 4545010 http://www.medworm.com/index.php?rid=4343202&cid=t_140769_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2011%2F01%2F13%2F5-ideas-for-cultivating-a-sense-of-wonder%2F Reverb 10 is an annual end-of-year project that helps readers reflect on the old year via a series of prompts. One of 2010′s prompts was “How did you cultivate a sense of wonder in your life this year?” This question made me think about cultivating wonder in our lives all the time, from the old year into the new. Wonder is a magical word, I think. And it’s a word that needs more exploration. We need to explore wonder more often, because as adults, many of us lose our sense of wonder in life. It gets buried under piles of bills, deadlines, responsibilities and housework. Maybe you think you’re too old, too mature or too sensible to have a sense of wonder. According to Dictionary.com, wonder means to admire, to be amazed, to be in awe, to marvel. It means something strange or s... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=4343202 Thu, 13 Jan 2011 12:28:08 +0100 4343202 http://www.medworm.com/index.php?rid=4324809&cid=t_140769_97_f&fid=35606&url=http%3A%2F%2Fwww.theangriestpharmacist.com%2F2011%2F01%2F08%2Frequirements-versus-services%2F The smart alecks that post wise guy comments on my, and other pharmacist websites, usually only have one or two things they say regarding the worth of pharmacists. The root of their hatred for the profession that does so much for the common citizen is seeded in their jealousy of the wages paid to such highly trained professionals. Along the same lines, they only see pieces of paper (money and prescriptions) coming in and bottles filled with 30 pills each going out. Haters see it as overly simplified. Exoterically, from the outside looking in, it is, but for those of us that spent 6 to 8 years getting a doctorate, we don't agree. Compared to backbreaking labor outside in the hot sun, I can at least understand. I've also had a recent brash of problems with patients being rude/uncaring about ... The Angriest Pharmacist blogs http://www.medworm.com/rss/comments.php?id=4324809 Sat, 08 Jan 2011 06:15:50 +0100 4324809 http://www.medworm.com/index.php?rid=4265685&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FLgWHTqcgriY%2F By Mark A. CalabriaA recurring concern we have heard since the financial crisis erupted is that banks are simply not lending, and that this is holding back economic activity.  If only banks would lend, the economy would grow.  As usual, the truth is a little more complex.  Unlike in the Great Depression, and despite about 300 bank failures, the balance sheets and deposits of insured commercial banks and thrifts has been steady, if slowly, expanding throughout the financial crisis and recess.  Banks have continued lending during this time; however, they have changed who they are lending to.  Over the last two years we have witnessed a massive shift from lending to the private sector to lending to the public. The chart below shows banking business lending and bank holdings of U.S. gover... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4265685 Thu, 16 Dec 2010 20:14:31 +0100 4265685 http://www.medworm.com/index.php?rid=4265689&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FwOubvfvQOi8%2F By George ScovilleThat’s the title of an upcoming FOX News Channel feature program with John Stossel, in which Cato Executive Vice President David Boaz and Director of Health Policy Studies Michael F. Cannon weigh in on some of the hidden, unforeseen, and unintended consequences of the attempts to deliver on promises our politicians make. Politicians promised that: Cash for Clunkers would save the auto industry. Increasing the minimum wage would be good for the working poor. Title IX would end gender-based discrimination in college sports. Mega-construction projects like stadiums, arenas, and conference centers would create jobs. Changing the tax code would save small farmers and the environment. Credit card reform would save us from banking fees. Reforming the health care system wo... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4265689 Wed, 15 Dec 2010 22:34:24 +0100 4265689 http://www.medworm.com/index.php?rid=4133678&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fo9LCzJ0iwrE%2F By Andrew J. CoulsonWhile most of the election punditry to date has been focused at the national level, major gains by Republicans in states that already have k-12 education tax credits or school vouchers could lead to the expansion of such programs or the passage of new ones. To see where the action might lie, I offer the chart below, showing post-election party control of the legislative and executive branches of government in school choice states (the height of each bar represents degree of control, with the height of the executive branch = 100%). The states are sorted by the number of branches of government that changed hands (represented on the chart by the yellow circles, which correspond to the axis on the right). There might be gridlock at the national level, but at the state level... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=4133678 Wed, 03 Nov 2010 18:18:14 +0100 4133678 http://www.medworm.com/index.php?rid=4001810&cid=t_140769_151_f&fid=35818&url=http%3A%2F%2Frecoveryissexy.com%2Ffinancial-abuse-in-relationships%2F What is economic or financial abuse of a spouse or domestic partner? Economic or financial abuse includes: Withholding economic resources such as money or credit cards. Stealing from or defrauding a partner of money or assets. Exploiting the intimate partner’s resources for personal gain. Withholding physical resources such as food, clothes, necessary medications, or shelter. Preventing the spouse or intimate partner from working or choosing an occupation. These symptoms may occur in alcoholic or addictive relationships as co-dependency grows. See also; Abusive relationship? Choicemaking Emotional Sobriety – A Recovery Book Drunks, Drugs & Debits: How to Recognize Addicts and Avoid Financial Abuse by Doug Thorburn - Share, print or e-mail this articleRando... Recovery Is Sexy.com blogs http://www.medworm.com/rss/comments.php?id=4001810 Sat, 25 Sep 2010 17:18:54 +0100 4001810 http://www.medworm.com/index.php?rid=3972903&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F5tvdJ_PA2S4%2F By Mark A. CalabriaDespite every major US bank being declared by regulators as “well capitalized” prior to the financial crisis, we still found ourselves watching the government plow hundreds of billions of capital into said banks.  How can this be?  The answer is quite simple:  we were lied to.  Maybe that’s a little harsh, after all these banks did meet the regulatory definition of “well capitalized”.  But when push came to shove, market participants rightly ignored regulatory capital.  After all you cannot use things like “deferred tax losses” to pay your bills with. It is hard to improve upon Martin Wolf’s observation in today’s Financial Times:  “This amount of equity is far below levels markets would impose if invest... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3972903 Wed, 15 Sep 2010 16:03:49 +0100 3972903 http://www.medworm.com/index.php?rid=3938320&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FDvWRZG3OrAg%2F By Daniel J. MitchellLike a terrible remake of Groundhog Day, the White House has unveiled yet another so-called stimulus scheme. Actually, they have two new proposals to buy votes with our money. One plan is focused on more infrastructure spending, as reported by Politico. Seeking to bolster the sluggish economy, President Barack Obama is using a Labor Day appearance in Milwaukee to announce he will ask Congress for $50 billion to kick off a new infrastructure plan designed to expand and renew the nation’s roads, railways and runways. …The measures include the “establishment of an Infrastructure Bank to leverage federal dollars and focus on investments of national and regional significance that often fall through the cracks in the current siloed transportation programs,”... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3938320 Mon, 06 Sep 2010 18:52:39 +0100 3938320 http://www.medworm.com/index.php?rid=3929217&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fjo0l_Dif__s%2F By Neal McCluskeyMatt Yglesias thinks my assertion that we would be better off economically if education money stayed with taxpayers rather than going to public schools and universities is “totally insane.” Ouch! Now, I can actually understand this, because many people have difficulty envisioning things other than what they’ve always known. But have I really gone all Crazy Eddie? If government didn’t spend taxpayer dough on education, would the poor be much worse off than they are today? Can we never over-invest in schooling because education is just so important? Does the college wage premium mean we should never ratchet down subsidies for college education? And is it at least possible that spending more and more public dough doesn’t lead to ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3929217 Thu, 02 Sep 2010 19:38:37 +0100 3929217 http://www.medworm.com/index.php?rid=3920820&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FssgqanltPAg%2F By Adam SchaefferNikki Haley promises to be a star governor if–most likely when–she’s elected this fall by South Carolina voters. Word is she’s a committed fiscal conservative, and her background is steeped in a successful family business, not large corporations, so she should have an intuitive grasp of what makes our economy grow. And Haley has a long, solid record of supporting school choice through education tax credits in South Carolina. As recently as August 19th, Haley was reported as saying, “like Sanford, she would veto a bill to expand public education options unless it included help with private tuition. She agreed with Sanford that it must be all or nothing, saying otherwise the Legislature won’t return to the debate.” Now that’s the stuff. But Haley ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3920820 Tue, 31 Aug 2010 20:42:53 +0100 3920820 http://www.medworm.com/index.php?rid=3920827&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FmipidtQECHg%2F By Jim HarperH.R. 3421, the “Medical Debt Relief Act of 2009,” has nothing to do with relieving people of medical debts. It adds to the list of information credit reporting agencies may not communicate to their clients. Current law bars credit bureaus from sharing truthful information about bankruptcies occuring more than ten years in the past, and lawsuits, judgments, tax liens, accounts placed in collection, or other adverse information more than seven years old, except in certain high-dollar credit transactions. This bill would add a new item to the list of officially banned information: medical debts that have been paid more than thirty days before a credit report is issued. There are many cases, of course, where people who incur medical debts deserve our sympathy. But do ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3920827 Tue, 31 Aug 2010 12:43:59 +0100 3920827 http://www.medworm.com/index.php?rid=3902880&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FJPH4gelW8Ig%2F A couple of weeks ago, David Boaz discussed the Old Testament story in which the people of Israel ask Samuel for a king to rule over them. God’s instructions to Samuel can be summed up as “tell them to be careful of what you wish for.” David brought up the passage in the context of civil liberties, but the story’s lesson also applies to economic liberties. Over the past eighty years, the public has become conditioned in times of crisis to turn to their rulers and demand that they “do something.” That the rulers had a hand in the crisis is all too often either unrecognized or it’s a secondary concern. As Robert Higgs demonstrated in his seminal book, Crisis and Leviathan, the rulers will willingly oblige the public and, in the process, come away with more power and control tha... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3902880 Wed, 25 Aug 2010 21:05:04 +0100 3902880 http://www.medworm.com/index.php?rid=3876933&cid=t_140769_180_f&fid=38612&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Fpickthebrain%2FLYVv%2F%7E3%2FD1SFeDoeEdU%2F This guest post was contributed by Jane Sanders, who writes about debt management and other personal finance topics at DebtManagement.net. “A man in debt is so far a slave” – Ralph Waldo Emerson One of the greatest hardships a person can face is being burdened by debt. In addition to paying off the original loan, interest (often at extremely high rates) continues to add to the total, making the ultimate pay off far higher than what was borrowed in the first place. Having debt robs a person of freedom. They can’t leave a job they don’t like to pursue a new career, bad credit often prevents them from buying essentials like a home or a car, and it hangs over them for years, chipping away at the amount they can spend and save. It also creates stress, because some... PickTheBrain | Motivation and Self Improvement blogs http://www.medworm.com/rss/comments.php?id=3876933 Wed, 18 Aug 2010 05:51:42 +0100 3876933 http://www.medworm.com/index.php?rid=3808650&cid=t_140769_87_f&fid=34872&url=http%3A%2F%2Fblisstree.com%2Ffeel%2Fimpulse-buyers-beware-dopamine-is-the-culprit%2F Her dopamine levels are off the charts — you can see it in her eyes. (photo: Thinkstock) If you’ve got a closet full of unworn clothes and a credit card bill through the roof, chances are you’re an impulse shopper. You see something; you want it; you buy it. This could be because your brain has more dopamine in it than your more cautious friends. High levels of dopamine cause people to act rashly, which would explain that pair of hot pink pleather pants in the back of your closet. I only impulse buy when I’m stressed — I wonder what that says about my dopamine levels. How many of you have a really embarrassing impulse buy tale? Please, share — we all love a good shopping horror story. via NPR Post from: BlissTree Impulse Buyers Beware: Dopamine Is the Culprit (Sourc... Healthbolt blogs http://www.medworm.com/rss/comments.php?id=3808650 Fri, 30 Jul 2010 16:45:37 +0100 3808650 http://www.medworm.com/index.php?rid=3729846&cid=t_140769_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Fwhats-in-your-wallet-learnvest-ceo-alexa-von-tobel-shows-the-contents-of-her-money-bag%2F Keeping track of your cash, coins, and credit cards seems like something you should learn how to do in high school, but some of us still haven’t mastered the art of organizing our wallets. If you ever find yourself digging through crumpled receipts or wishing you hadn’t left certain cards at home, check out these tips from LearnVest. (And check out LearnVest’s original post for more details and a peek into Learnvest CEO Alexa von Tobel’s personal wallet.) What to keep in your wallet: Credit Card – LearnVest suggests having two credit cards in your name: One for regular use, another for emergency use only. Keep the emergency card tucked away at home, and keep the other in your wallet at all times. Cash – The key here is not too much, not too little. Between $25... Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3729846 Tue, 06 Jul 2010 18:22:14 +0100 3729846 http://www.medworm.com/index.php?rid=3676803&cid=t_140769_129_f&fid=36191&url=http%3A%2F%2Fwww.arthritisblog.org%2Fentry%2Ffour-benefits-of-prepaid-credit-cards%2F Prepaid credit cards are the ideal way to use your card for your purchases so you do not have to carry around cash. In most cases, prepaid credit cards work just like a credit card except that you put the money on the card before using it rather than using credit. Prepaid cards have several advantages over credit cards and here are some of them. Safer than Cash Prepaid credit cards are safer than cash because they have a protection built in. If your card gets stolen, you are protected under the same guidelines that traditional credit card holders have in many cases. For instance, if Visa offers its credit card holders a zero liability protection plan, you will have the same benefit if your prepaid card has the Visa logo. Be sure to check with the company printed on your prepaid credit car... Arthritis Blog blogs http://www.medworm.com/rss/comments.php?id=3676803 Sat, 19 Jun 2010 06:54:44 +0100 3676803 http://www.medworm.com/index.php?rid=3676914&cid=t_140769_160_f&fid=36190&url=http%3A%2F%2Fwww.skincareblog.org%2Fentry%2Fhow-do-prepaid-credit-cards-work%2F Prepaid credit cards are different than regular credit cards because they are prepaid. This means that in order to use the card, you must add money to the account on the card before you purchase items. The first thing you’ll do is sign up for an account. Before deciding what card you want, you’ll want to compare different cards. Many prepaid cards charge a monthly fee that can range anywhere from $1.99 to $12 a month. Higher monthly fees often come with more features, so you’ll want to decide what features you need on the card before you shop. You can get cards from Visa and Mastercard, which give you the flexibility of shopping anywhere where these cards are accepted. Options can include the following: * No activation fee. * Cash bonuses when you use direct deposit ... Skin Care blogs http://www.medworm.com/rss/comments.php?id=3676914 Sat, 19 Jun 2010 05:59:17 +0100 3676914 http://www.medworm.com/index.php?rid=3644740&cid=t_140769_87_f&fid=36050&url=http%3A%2F%2Fblisstree.com%2Flive%2Feco-friendly-living-10-easy-ways-to-go-paperless%2F Take a look around your desk; you probably have piles and piles of paper just sitting there. These piles are a combination of bills, documents you feel you should keep but probably won’t ever need, catalogs, junk mail, and receipts. It’s easy to feel overwhelmed among all these former trees, especially if the whole thing is a disorganized mess. And wouldn’t your life be so much more eco-friendly if you could cut out paper entirely? Check out Lifehacker’s Guide to Going Paperless: photo: Thinkstock 1. Pay your bills online. Practically all utility companies have the option to pay your bill online. Take advantage. 2. Get your bank statements online. You’ll have a copy of your records in your account on your bank’s site. 3. Stop getting credit card offers ... Breastfeeding 1-2-3 blogs http://www.medworm.com/rss/comments.php?id=3644740 Tue, 08 Jun 2010 21:32:41 +0100 3644740 http://www.medworm.com/index.php?rid=3633629&cid=t_140769_151_f&fid=35818&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FRecoveryIsSexycom%2F%7E3%2F3qxRCShjq4w%2F The 12 Signs of Compulsive Debting are;   1. Being unclear about your financial situation. Not knowing account balances, monthly expenses, loan interest rates, fees, fines, or contractual obligations. 2. Frequently "borrowing" items such as books, pens, or small amounts of money from friends and others, and failing to return them. 3. Poor saving habits. Not planning for taxes, retirement or other not-recurring but predictable items, and then feeling surprised when they come due; a "live for today, don’t worry about tomorrow" attitude." 4. Compulsive shopping: Being unable to pass up a "good deal"; making impulsive purchases; leaving price tags on clothes so they can be returned; not using items you’ve purchased. 5. Difficulty in meeti... Recovery Is Sexy.com blogs http://www.medworm.com/rss/comments.php?id=3633629 Sun, 06 Jun 2010 00:09:39 +0100 3633629 http://www.medworm.com/index.php?rid=3603571&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FXG0cljrXqak%2F By Andrew J. CoulsonYesterday, I contended that education tax credits substantially avoid the compulsion inherent in school voucher programs — that vouchers compel all taxpayers to fund every kind of schooling (including ones they may strongly object to) whereas tax credits do not. In his most recent response, NRO’s Robert VerBruggen disagrees. He writes I don’t see how [tax credits do] anything whatsoever to change this, at least mathematically speaking. Whenever someone earmarks their tax dollars for a certain purpose — in this case, by “donating” to a voucher program and being reimbursed with a tax credit — the government has to devote a higher share of everyone else’s tax dollars to the rest of the budget. Non-”donating” taxpayers, therefore, subsidize the ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3603571 Thu, 27 May 2010 13:02:53 +0100 3603571 http://www.medworm.com/index.php?rid=3603576&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F-kewZWjtEQY%2F By Andrew J. CoulsonNRO editor Robert VerBruggen has weighed in a couple of times this week on the relative merits of school vouchers and education tax credits, raising interesting and important issues. In response to my earlier post today about an education tax credit case now before the U.S. Supreme Court, VerBruggen writes: If the Supreme Court buys this logic — which I suppose is sound on its face — it could lead to some very interesting programs. Any time it’s illegal for a government to fund something directly, it could simply make a dollar-for-dollar “tax credit” program for it, allowing sympathetic taxpayers to technically “donate” — but actually just redirect the taxes they’d otherwise have to pay — to the cause. This is actually an argument presented by critic... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3603576 Wed, 26 May 2010 19:15:06 +0100 3603576 http://www.medworm.com/index.php?rid=3592195&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FIOLx3_kybto%2F By Andrew J. CoulsonThe SCOTUS Blog reports this morning that the United States Supreme Court has agreed to hear an appeal of the Ninth Circuit’s ruling in the Arizona k-12 scholarship tax credit case. This is great news, and paves the way for the Court to ultimately overturn the 9th Circuit’s credulity-straining legal misadventure. For the details, see the Cato brief in this case, which was joined by the American Federation for Children and Foundation for Educational Choice. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3592195 Mon, 24 May 2010 14:22:52 +0100 3592195 http://www.medworm.com/index.php?rid=3581595&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FUFFBFxXOuno%2F By Andrew J. CoulsonThe Supreme Court is expected to decide tomorrow whether to summarily overturn a Ninth Circuit Court ruling, hear an appeal of that ruling, or let the Ninth Circuit’s decision stand. The case involves Arizona’s k-12 scholarship tax credit program that helps families afford private schooling, which the Ninth Circuit found last year to violate the First Amendment. Before the Ninth Circuit handed down its decision, I predicted that it would rule against the tax credit program, and that it would eventually be overturned by the Supreme Court. The first part of that prediction came to pass, and I still expect the second part to as well. For the reasons why SCOTUS will overturn the Ninth Circuit, see Cato’s brief in the case.  Ilya Shapiro (with whom I... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3581595 Wed, 19 May 2010 18:17:32 +0100 3581595 http://www.medworm.com/index.php?rid=3552227&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fxyu01UtmFH0%2F By Mark A. CalabriaOne of the puzzles of Congressional efforts to “reform” our financial system to avoid future crises is the amount of attention to lenders who had nothing to do with the crisis (almost as puzzling as the inattention to many who did). Today’s Washington Post, for instance, details the efforts of payday lenders to fight back against both Senator Dodd’s new consumer agency and Senator Hagan’s amendment, that would essentially eliminate the consumer option of payday loans. In general, any efforts to restrict consumer choice is rarely likely to improve consumer welfare.  This has been repeatedly demonstrated in research on payday lending.  Senator Hagan played a key role in banning such products in North Carolina.  What was the result of that... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3552227 Mon, 10 May 2010 18:36:00 +0100 3552227 http://www.medworm.com/index.php?rid=3508166&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FyxatCOmKNtg%2F By Mark A. CalabriaMismanaged municipal and state governments around the country are finding a new target to blame for their own self-inflicted wounds:  the growing market for credit defaults swaps (CDS) on municipal debt. A municipal credit default swap would be a derivative that pays off in the event of default by a specific state or a default on one of said state’s debt instruments. As reported in today’s Wall Street Journal, a handful of state treasurers are demanding information from Wall Street firms on who exactly is “betting against” these states. It should come as no surprise, except to state officials, that the major buyers of these CDS are the very bondholders investing in their state.  In fact the availability of municipal CDS will likely increase th... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3508166 Tue, 27 Apr 2010 19:11:41 +0100 3508166 http://www.medworm.com/index.php?rid=3476079&cid=t_140769_150_f&fid=35777&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FPharmalot%2F%7E3%2FU9sHsYMjMAs%2F Is this surprising? Probably not. A new report from Moody’s makes clear the industry’s strong credit profile is at risk. “The rise in industry debt leaves reduced cushion in credit metrics, making pharmaceutical ratings vulnerable to ongoing downward pressure,” Michael Levesque, Moody’s senior vp, says in a statement. Here is a summary… - Debt is rising in the global pharma industry just as upcoming patent expirations threaten earnings and cash flow, placing strong credit profiles at risk. Until recently, the industry maintained extremely low leverage; - Moody’s estimates aggregate industry debt rose to $270 billion at year end 2009, compared with $124 billion three years earlier – a 117 percent rise. For US companies, the debt increase also refl... Pharmalot blogs http://www.medworm.com/rss/comments.php?id=3476079 Fri, 16 Apr 2010 12:11:42 +0100 3476079 http://www.medworm.com/index.php?rid=3424829&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtRRTHZKYKjU%2F By Andrew J. Coulson“…a little better all the time.” Some school choice supporters and philanthropists began to suffer burnout a few years ago, disappointed that private school choice programs had not yet scaled up massively a decade-and-a-half after the first modern program was launched in Milwaukee. That disappointment is likely to give way in the coming years to new hope, and looking back a generation from now, 2010 may well be seen as a turning point in the history of educational freedom. Last week, a private school choice bill sponsored by a Democrat (the Rev. James Meeks), passed the Democratic-controlled Illinois Senate. Even if this particular bill isn’t enacted into law, the impact of its passage in the Senate will reverberate around the country. Also in ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3424829 Wed, 31 Mar 2010 13:05:53 +0100 3424829 http://www.medworm.com/index.php?rid=3382804&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F2b_vIHNsAE8%2F By Doug BandowThe U.S. isn’t Greece.  Yet. Moody’s is no longer so sure about the quality of Uncle Sam’s debt.  Reports the Christian Science Monitor: The US needs to make significant government spending cuts or else risk losing its gold-plated credit rating that has made extensive borrowing so affordable, Moody’s Investor Service said late Monday. The announcement was a sobering warning that the country’s burgeoning debt has weakened the country’s economic standing, and that US Treasury Bonds, traditionally a bullet-proof investment, could lose their sterling Aaa-rating if Washington cannot control its federal debt. If Moody’s were to downgrade the country’s rating, the impact could be severe. It would signal to lenders worldwide that the US is no longer one ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3382804 Thu, 18 Mar 2010 18:26:18 +0100 3382804 http://www.medworm.com/index.php?rid=3346443&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FYFYcgS5FLlg%2F By Tad DeHavenAs the Federal Housing Administration edges closer to a taxpayer bailout due to the large number of risky mortgage loans it has insured, it continues to insist that no such bailout will be required. However, a new study from a group of economists at New York University finds that the FHA’s assurances might not be based in reality. According to the study, the actuarial analysis FHA used to determine it won’t need a bailout seriously understates its exposure to risk: More FHA mortgages are underwater than the FHA’s analysis identifies, and unemployment is naturally particularly high in areas where FHA borrowers are furthest underwater. Therefore, potential default costs are underestimated. FHA’s analysis relies on house values that are inaccurate. Overvalued houses m... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3346443 Tue, 09 Mar 2010 13:47:38 +0100 3346443 http://www.medworm.com/index.php?rid=3316269&cid=t_140769_155_f&fid=39055&url=http%3A%2F%2Fjulesberman.blogspot.com%2F2010%2F02%2Ffirst-credit-5.html This is the fifth and last in a multi-part blog on the topic of FIRST CREDIT in the sciences.Sometimes, credit falls on the person who least understood the significance of his own work. In 1771, Charles Messier (1730 - 1817) , selected 103 heavenly objects that have captured the rapt attention of astronomers for nearly two and a half centuries. Messier selected regions of space that were nebulous, and obscured his view of comets (his sole interest). He made a point of categorizing the Messier objects as areas of space that should be avoided by serious astronomers. In 1771, his chosen spots might have been accurately called the Messier non-objects. Charles Messier. Source: Wikipedia, public domain.Today, the Messier objects are credited with holding some of the most fascinating galaxies and... Specified Life blogs http://www.medworm.com/rss/comments.php?id=3316269 Sun, 28 Feb 2010 12:20:00 +0100 3316269 http://www.medworm.com/index.php?rid=3314808&cid=t_140769_155_f&fid=39055&url=http%3A%2F%2Fjulesberman.blogspot.com%2F2010%2F02%2Ffirst-credit-4.html This is the fourth in a multi-part blog on the topic of FIRST CREDIT in the sciences.Johann Franz Encke (1791 - 1865) is given credit for the discovery of [Encke's] comet (1818), but Encke merely calculated the orbit, using a technique first developed more than a century earlier by Edmond Halley (1656-1742). In 1705, Halley applied Newton's laws of physics to correctly predict that a particular comet (known today as Halley's comet), observed in 1531, 1607, and 1682, would return in 1758. The comet known today as Encke's comet was named after a person who neither first-sighted the comet nor discovered the methodology to predict the comet's orbit. The person who made the first sight of the commet has descended into scientific obscurity.Johann Franz Encke. Source: Wikipedia (public domain).Wh... Specified Life blogs http://www.medworm.com/rss/comments.php?id=3314808 Sat, 27 Feb 2010 12:12:00 +0100 3314808 http://www.medworm.com/index.php?rid=3311958&cid=t_140769_155_f&fid=39055&url=http%3A%2F%2Fjulesberman.blogspot.com%2F2010%2F02%2Ffirst-credit-3.html This is the third in a multi-part blog on the topic of FIRST CREDIT in the sciences."If you want to make an apple pie from scratch, you must first create the universe."- Carl SaganCarl Wilhelm Scheele (1742 - 1786) made some of the most important discoveries in the field of chemistry, but, through a series of bad breaks, lost first credit for all of them. Scheele discovered Oxygen a full two years before Priestley, but Scheele sent his manuscript to a publisher who held the work for several years, during which time Priestley got his discovery into print. Today, Joseph Priestley (1733 - 1804) is widely held to be the discoverer of Oxygen. In 1774, Scheele laid the groundwork for the discovery of Manganese, but Johan Gottlieb Gahn (1745 - 1818) finished the task and received the credit. Also... Specified Life blogs http://www.medworm.com/rss/comments.php?id=3311958 Fri, 26 Feb 2010 12:05:00 +0100 3311958 http://www.medworm.com/index.php?rid=3307118&cid=t_140769_155_f&fid=39055&url=http%3A%2F%2Fjulesberman.blogspot.com%2F2010%2F02%2Ffirst-credit-2.html This is the second in a multi-part blog on the topic of FIRST CREDIT in the sciences.Antonie Philips van Leeuwenhoek (1632-1723) is sometimes credited with inventing the modern microscope. Not so. Leeuwenhoek improved the microscope with his superb lens grinding technique, but he did not invent the microscope and did not make any particularly important modifications to the design of the microscope. Source: Garrison FH. History of medicine. WB Saunders, Philadelphia, 1921.In 1595, fifteen-year old fledgling Dutch lens grinder (and part-time counterfeiter), Zacharias Jansen (1580 - 1638) placed two lenses in a tube, and created the first compound microscope. Source: Wikipedia (public domain)This amazing invention sat dormant until 1667, when Robert Hooke (1635 - 1703) studied insects and pla... Specified Life blogs http://www.medworm.com/rss/comments.php?id=3307118 Thu, 25 Feb 2010 11:49:00 +0100 3307118 http://www.medworm.com/index.php?rid=3307119&cid=t_140769_155_f&fid=39055&url=http%3A%2F%2Fjulesberman.blogspot.com%2F2010%2F02%2Ffirst-credit-1.html This is the first in a multi-part blog on the topic of FIRST CREDIT in the sciences.Stigler's law of eponymy, "No scientific discovery is named after its original discoverer."- SM Stigler (1)According to Stigler, credit always goes to the wrong person, and this is the essence of Stigler's law of eponymy (which, according to Stigler, must have been invented by someone other than Stigler). Stigler provides numerous examples of credit going to the wrong scientist (1). "Laplace employed Fourier Transforms in print before Fourier published on the topic, that Lagrange presented Laplace Transforms before Laplace began his scientific career, that Poisson published the Cauchy distribution in 1824, twenty-nine years before Cauchy touched on it in an incidental manner, and that Bienayme stated and pr... Specified Life blogs http://www.medworm.com/rss/comments.php?id=3307119 Wed, 24 Feb 2010 21:28:00 +0100 3307119 http://www.medworm.com/index.php?rid=3283518&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FD2bJDckIaMo%2F By Andrew J. CoulsonTomorrow night at 8:00pm, Fox Business News will air a John Stossel special on the failures of state-run schooling and the merits of parental choice and competition in education. I make an appearance, as do Jeanne Allen and James Tooley. News of the show is already making the rounds, and over at DemocraticUnderground.com, one poster is very upset about it, writing: When will these TRAITORS stop trying to ruin this country? HOW can AMERICANS be AGAINST public education? Stossel is throwing out every right-wing argument possible in his namby pamby singsong way while he “interviews” a “panel” of people (who I suspect are plants) saying things like preschool is a waste of money and why invest in an already-failing system…. I hate Stossel and I ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3283518 Wed, 17 Feb 2010 19:15:05 +0100 3283518 http://www.medworm.com/index.php?rid=3279959&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaO94pvlz-nw%2F By Tad DeHavenMy house has been on the market for a month and it has drawn a lot more looks than I expected. I’ve been quizzing realtors as they come through, and each one tells me the same story: the government is single-handedly propping up the demand for housing. In addition to the homebuyer tax credit and government-induced low mortgage interest rates, most sales are being done with Federal Housing Administration backing. As a seller, I’m looking to get out before the tax credit expires and interest rates starting ticking upward. But when I do sell, I certainly won’t be looking to buy a house, particularly since I’ll be selling at a loss. If my situation is representative of other current sellers, the housing market could be in for another tumble if the government crutches are ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3279959 Wed, 17 Feb 2010 13:41:32 +0100 3279959 http://www.medworm.com/index.php?rid=3239558&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPDlf88beFXc%2F By Adam SchaefferI wrote about this private school in South Carolina last year. The Voice for School Choice has a new video highlighting the great work of the Eagle Military Academy, which works with many kids the public schools cannot or will not educate. There’s a lot of talk lately about the transformative power of some charter schools, and it’s easy to lose sight of the fact that many secular and religious private schools have been saving kids all along with no public funds and little or no recognition from the elite opinion class. We need to open up choice to these schools as well, not just public charter schools that cannot provide the breadth and depth of experiences offered by private schools. Public charter schools are no substitute for full school choice through education t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3239558 Wed, 03 Feb 2010 17:16:21 +0100 3239558 http://www.medworm.com/index.php?rid=3235817&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fwiz5gkUe4N0%2F By Mark A. CalabriaPresident Obama has announced his intention to use $30 billion in TARP funds to create a new small business lending fund.  In all likelihood, this is $30 billion the taxpayers will never see returned. First of all, the problem facing small business, outside of the massive uncertainty being created by Washington, is one of credit availability, not cost.  For those who can get credit, its quite cheap, arguably too cheap.  So if the president doesn’t intend to lower the cost of credit, the plan must be to lower the quality; using the $30 billion to cover expected credit losses.  Of course, we tried throwing lots of taxpayer money at unsustainable homeownership, is there any reason to believe throwing taxpayer money at unsustainable businesses is going to work any bett... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3235817 Wed, 03 Feb 2010 16:45:34 +0100 3235817 http://www.medworm.com/index.php?rid=3189123&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F4FBpYnwq4Lo%2F By Tad DeHavenThe Federal Housing Administration will reportedly announce more stringent lending requirements and higher borrowing fees. The move comes in response to growing concerns that rising losses on mortgages it insures will require a taxpayer bailout. Although any credit tightening is welcome, the agency will not propose an increase in the minimum downpayment, currently 3.5 percent. (Borrowers with credit scores below 580 will be required to put down a minimum of 10 percent, but most FHA lenders already require a 620 minimum score.) Yesterday, the Wall Street Journal noted that “home builders are worried” the FHA would propose raising the minimum downpayment. The CEO of a Texas builder said it would be a “game changer,” meaning that it would hinder the nascent housing recov... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3189123 Wed, 20 Jan 2010 14:25:01 +0100 3189123 http://www.medworm.com/index.php?rid=3185314&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FX9dAbJFhoIE%2F By Tad DeHavenMost people would agree with Chris Edwards that the federal tax code is insanely complicated. The IRS Commissioner doesn’t do his own taxes, the Treasury secretary and other Washington policy experts haven’t paid what is owed, and the already overwhelmed IRS would be given an expanded role under the Democrat’s health care legislation. A key problem is that the social engineers on Capitol Hill have run amok. Recently, they have been enamored with home-buying tax credits, and CNN.com notes how it is further overwhelming the IRS bureaucracy: On Thursday, CNNMoney revealed that buyers who purchased their properties after Nov. 6 were unable to claim the refund because the Internal Revenue Service had yet to release a new form and instructions. But on Friday, the IRS finally ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3185314 Tue, 19 Jan 2010 14:14:45 +0100 3185314 http://www.medworm.com/index.php?rid=3153355&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F9SAHBGsYaRw%2F By Thomas FireyWashington is fretting this week over news that mortgage applications fell dramatically in November. Coupled with earlier indications of renewed softening in the housing market, there is growing fear that housing is headed for a “double-dip downturn” that could further damage the economy. As a result, Federal Reserve policymakers are considering additional stimulus, while the National Association of Realtors is suggesting an(other) extension of the “temporary” homebuyer tax credit. Remarkably, neither policymakers nor the media are asking the obvious question: Given all of the emergency interventions in housing that government has undertaken, and the fact that the housing market continues to erode, do such interventions do much good? Since... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3153355 Thu, 07 Jan 2010 19:44:22 +0100 3153355 http://www.medworm.com/index.php?rid=3149031&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FSYyEpIbHak0%2F By David BoazTwo items in Tuesday’s newspapers remind us of the often unseen costs of regulation and also of the often unseen benefits of market processes. In the Wall Street Journal, Prof. Todd Zywicki examines the likely consequences of a law to limit credit card interest rates and the fees they charge to merchants: Card issuers might also reduce the quantity and quality of credit cards by restricting credit availability and cutting back on product innovation or ancillary card benefits. This is exactly what happened when Australian regulators imposed price controls on interchange fees in 2003: Annual fees increased an average of 22% on standard credit cards and annual fees for rewards cards increased by 47%-77%. Card issuers also reduced the generosity of their reward programs by 2... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3149031 Thu, 07 Jan 2010 13:39:04 +0100 3149031 http://www.medworm.com/index.php?rid=3149033&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FDm_nrwtWRKc%2F By Jason KuznickiThe most interesting libertarian-related conversation I’ve read today comes from Rortybomb, by way of Andrew Sullivan, with commentary by Megan McArdle. Here’s a challenge to libertarians from Rortybomb, aka Mike Konczal: I want to pitch to the credit card and financial industry a new innovative online survey. It is targeted for older, more mature long-time users of our services. We’ll give a $10 credit for anyone who completes it. Here is a sense of what the questions will look like: - 1) What is your age? - 2) What day of the week are you taking this survey? - 3) Many rewards offered are for people with more active lifestyles: vacations, flights, hotels, rental cars. Do you find that your rewards programs aren’t well suited for your lifestyle? - 4) What i... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3149033 Wed, 06 Jan 2010 19:36:45 +0100 3149033 http://www.medworm.com/index.php?rid=3083194&cid=t_140769_151_f&fid=35818&url=http%3A%2F%2Frecoveryissexy.com%2Fsigns-of-compulsive-debting%2F 1. Being unclear about your financial situation. Not knowing account balances, monthly expenses, loan interest rates, fees, fines, or contractual obligations. 2. Frequently “borrowing” items such as books, pens, or small amounts of money from friends and others, and failing to return them. 3. Poor saving habits. Not planning for taxes, retirement or [...] (Source: Recovery Is Sexy.com) Recovery Is Sexy.com blogs http://www.medworm.com/rss/comments.php?id=3083194 Sat, 12 Dec 2009 16:35:00 +0100 3083194 http://www.medworm.com/index.php?rid=3146037&cid=t_140769_109_f&fid=34761&url=http%3A%2F%2Ffeeds.feedblitz.com%2F%7E%2F3469669%2Fz4m7w%2Fneuromarketing%7ELoyalty-Programs-Of-Rats-and-Men.htm It seems like everyone has a loyalty program these days. Buy a cup of coffee, and you get a punch card that promises a free cup after you purchase some number of additional cups. Shop at the grocery store, and you get points to reduce the price of gas. Our wallets bulge [...] CommentsLoyalty is so difficult to execute! The intersection of loyalty ... by AjaySometimes, an ongoing loyalty incentive may be the best way to ... by Roger DooleyPlus 5 more... (Source: Neuromarketing) Neuromarketing blogs http://www.medworm.com/rss/comments.php?id=3146037 Fri, 04 Dec 2009 13:21:59 +0100 3146037 http://www.medworm.com/index.php?rid=3052124&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6rKC1HVQq2I%2F The Ethan Allen Institute has just published a report suggesting that Vermont could save $80 million a year by voucherizing its education system. What’s most interesting is how generous the prospective vouchers would be: $10,000 for K-6, and $14,900 for grades 7-12. How could such a system save money? The main reason is that Vermont was already spending $14,000/pupil on public schools across all grades four years ago. Taking into account the inevitable increase since then and the effects of inflation to 2009 dollars, the state is no doubt spending well over $15,000 per pupil today, so EAI’s ample voucher funding would still cost far less than the status quo. The only problem is that, as the EAI report notes (see p. 10), Vermont’s state supreme court has ruled against st... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3052124 Wed, 02 Dec 2009 21:08:03 +0100 3052124 http://www.medworm.com/index.php?rid=3015270&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6xiawI6-at4%2F In a recent Washington Post op-ed, Professor Joseph Gyourko, chair of the Wharton School’s Real Estate Department, lists what he sees as the five biggest myths about homeownership. Given the central role of federal housing policy, particularly Fannie Mae and Freddie Mac, in our recent financial crisis, it is worth following Professor Gyourko’s suggestion and question whether a national policy of ownership, all the time for everyone, really makes sense. Professor Gyourko’s five myths: 1.  Housing is a great long-term investment. 2.  The homebuyer tax credit makes buying a house more affordable. 3.  Homeowners are better citizens. 4.  It’s safe to buy a house with a very low downpayment. 5.  Owning is always cheaper than renting. You’ll have to read the op-... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=3015270 Fri, 20 Nov 2009 21:02:41 +0100 3015270 http://www.medworm.com/index.php?rid=2999499&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_s5-A4iBV4Y%2F My last post focused on the general results of a school choice poll in Virginia. Contra conventional wisdom, education tax credits are significantly more popular and less opposed than are charter schools. Even more interesting is the stability of support for donation tax credits across party identification. A stunning 64 percent of Democrats support credits, with only 21 percent opposed. Independents support credits 65 percent to 22 percent. Charters are supposed to be the poster child for policies targeting Independent voters. And yet charters draw 59 percent of support from independents and 23 percent opposition. That’s a swing from a 43 percent margin of support for credits to a 36 percent margin for charters. And vouchers run even further behind with a 22 percent margin of support f... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2999499 Tue, 17 Nov 2009 14:25:55 +0100 2999499 http://www.medworm.com/index.php?rid=2999500&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FaatxNmHFf1s%2F Pop Quiz: What’s the best education policy a moderate politician in Virginia can pursue? Vouchers Charter Schools Education Tax Credits Conventional wisdom says go with charter schools, because they are a bipartisan, moderate compromise reform that will get you the largest number of Independents and the least opposition. Vouchers are too hot to touch. And what’s an education tax credit . . . oh, right, they’re too controversial as well Conventional wisdom is WRONG. The Friedman Foundation has released another in their invaluable series of state education polls, this time for once-purple Virginia. Their findings are consistent with other polls, and the pattern is worth highlighting. Charter schools draw 59 percent in support and 26 percent in opposition. Vouchers find 57 percen... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2999500 Tue, 17 Nov 2009 14:04:52 +0100 2999500 http://www.medworm.com/index.php?rid=2993934&cid=t_140769_151_f&fid=35818&url=http%3A%2F%2Frecoveryissexy.com%2F12-signs-of-compulsive-debting%2F The 12 Signs of Compulsive Debting are; 1. Being unclear about your financial situation. Not knowing account balances, monthly expenses, loan interest rates, fees, fines, or contractual obligations. 2. Frequently “borrowing” items such as books, pens, or small amounts of money from friends and others, and failing to return them. 3. Poor saving habits. Not planning for taxes, retirement or other not-recurring but predictable items, and then feeling surprised when they come due; a “live for today, don’t worry about tomorrow” attitude.” 4. Compulsive shopping: Being unable to pass up a “good deal”; making impulsive purchases; leaving price tags on clothes so they can be returned; not using items you’ve purchased. 5. Difficulty in meeting b... Recovery Is Sexy.com blogs http://www.medworm.com/rss/comments.php?id=2993934 Sun, 15 Nov 2009 13:57:56 +0100 2993934 http://www.medworm.com/index.php?rid=2970195&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FCca75MD1nR8%2F The Washington Post is full of so many stories about government failure these days, it’s hard to keep up. Today, on page A19 we learn about a Small Business Administration subsidy program that has a 60-percent default rate. On the same page, we learn that the U.S. Postal Service will lose $7 billion this year. Flipping over to page A20, we learn that former New York City Police Commissioner Bernard Kerik is a liar, a tax cheat, and thoroughly corrupt. Then flip back to A15, and columnist Steve Pearlstein rightly lambastes the latest stimulus scheme from Congress: ”This $10 billion boondoggle is nothing more than a giveaway to the real estate industrial complex.” Finally, on A14, we’ve got government-owned Fannie Mae losing a colossal $19 billion this y... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2970195 Fri, 06 Nov 2009 19:23:23 +0100 2970195 http://www.medworm.com/index.php?rid=2958824&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FL7tKUsex0Fk%2F Many thanks to Lisa Snell at Reason for bringing this interesting historical fun fact from 1973 to light: Ayn Rand was a fan of education tax credits: In the face of such evidence, one would expect the government’s performance in the field of education to be questioned, at the least, [but] the growing failures of the educational establishment are followed by the appropriation of larger and larger sums. There is, however, a practical alternative: tax credits for education. The essentials of the idea (in my version) are as follows: an individual citizen would be given tax credits for the money he spends on education, whether his own education, his children’s, or any person’s he wants to put through a bona fide school of his own choice (including primary, secondary, and high... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2958824 Tue, 03 Nov 2009 19:20:47 +0100 2958824 http://www.medworm.com/index.php?rid=2931033&cid=t_140769_109_f&fid=34750&url=http%3A%2F%2Fpsychcentral.com%2Fblog%2Farchives%2F2009%2F10%2F26%2Fbehavioral-economics-this-is-your-brain-on-money%2F It doesn’t take a genius to figure out that with recession-related anxiety saturating the very air we breathe, we might be a bit slow to trust our financial decisions. For decades, economists did not find much merit in connecting psychology with finance. That changed when a young economics professor from the University of Chicago, Richard Thaler, introduced himself to two Israeli psychologists, Daniel Kahneman and Amos Tversky. Together they are credited with founding behavioral economics. Behavioral economics, and its close cousin, neuroeconomics, combines the disciplines of neuroscience, economics, and psychology to study how people make financial decisions. Using Psychology to Save You From Yourself, an National Public Radio podcast, explains the origins and development of behavio... World of Psychology blogs http://www.medworm.com/rss/comments.php?id=2931033 Tue, 27 Oct 2009 01:35:33 +0100 2931033 http://www.medworm.com/index.php?rid=2912166&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FI-NioRvMZ9c%2F Last Wednesday, the Arizona Republic published a fiscal impact assessment of the state’s education tax credit programs for k-12 private school choice. While the story itself was a good faith effort, there were errors in both its data and assumptions. I wrote an op-ed intended for the Republic correcting those errors and e-mailed a copy to the story’s author, Ron Hansen, the same day his story was published. While the paper’s editorial page expressed no interest in printing my submission, the Republic published a correction today based on the accurate spending and savings figures I provided. In a phone call, Hansen indicated that the correction was precipitated by my e-mail, though he opted not to mention that in his story, saying that he didn’t think the source ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2912166 Tue, 20 Oct 2009 19:13:07 +0100 2912166 http://www.medworm.com/index.php?rid=2908572&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FfoiXrGdeluQ%2F Via the Spectator’s Alex Massie, comes this ABC News report on last Thursday’s Obama town hall in New Orleans: “Why do people hate you?”, a fourth-grade boy asked Obama …. “They’re supposed to love you. And God is love.” Massie comments, Obama’s answer is actually pretty reasonable. But this is what happens when you make a mere elected politician assume the status of Priest-King. It is, in its own way, a corrupting influence. I don’t blame the kid asking the question since, heck, there are plenty of professional journalists in DC who basically think along the same lines. This isn’t Obama’s fault, but it’s a problem nonetheless. True enough, Americans had an irrational conception of presidential responsibility lon... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2908572 Mon, 19 Oct 2009 20:00:54 +0100 2908572 http://www.medworm.com/index.php?rid=2898920&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F22d1H8azSQk%2F With the House Financial Services Committee moving forward with a bill to increase the regulation of our consumer credit markets, particularly our mortgage market, it is worth asking the question:  what’s the best protection for consumers, regulation or competition? Let’s take the example of mortgage brokers.  They’ve often been targeted as one  of the causes of the crisis.  The story goes that they just made the loans and passed it along to the lenders and/or Wall Street and so, didn’t care about the quality of the loan. The response of government, first at the state then the federal level, has been to subject mortgage brokers to increased oversight and licensing, with the intent to keep the “bad actors” out of the marketplace.  How well did this a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2898920 Thu, 15 Oct 2009 21:01:54 +0100 2898920 http://www.medworm.com/index.php?rid=2871568&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPfLxrrDOg54%2F The U.S. sustainability standard currently requires ethanol production to emit at least 20% less CO2 than the gasoline it is assumed to replace. In a new study, authors Harry de Gorter and David R. Just argue that sustainability standards for ethanol are, by definition, illogical and ineffective. Moreover, say de Gorter and Just, those standards divert attention from the contradictions and inefficiencies of ethanol import tariffs, tax credits, mandates, and subsidies, all of which exist whether ethanol is sustainable or not. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2871568 Wed, 07 Oct 2009 15:12:38 +0100 2871568 http://www.medworm.com/index.php?rid=2871569&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FKDHROFXSlhw%2F Further to Ilya Shapiro’s post this morning, let me also point you to a concise chronology of events culminating in the government’s robbery of Chrysler creditors. The story is that of Richard Mourdock, Treasurer of the State of Indiana and the man responsible for stewardship of the state’s pension funds, some of which were victimized by the Obama administration’s pre-packaged and then forced-fed bankruptcy deal for Chrysler. I strongly urge you to read Mr. Mourdock’s testimony, which is at once revealing, sobering, compelling and, regrettably, a frightening sign of the times. Mourdock will be speaking on this very topic at Cato, along with bankruptcy law expert David Skeel, on Thursday, October 15 at noon. Reserve your seat now. (Source: Cato-at-liberty) Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2871569 Wed, 07 Oct 2009 15:08:38 +0100 2871569 http://www.medworm.com/index.php?rid=2857397&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FzUdBzuQM46s%2F Despite the economic stimulus and various financial bailouts, our economy continues to shed jobs.  One of the reasons for continued job losses is the decline in new hires, especially the lack of new hiring by small business. As bank analyst Meredith Whitney discusses in the Wall Street Journal [$], all the major credit programs created by Congress and the Federal Reserve have been targeted at big corporations and Wall Street firms.  However, small companies, especially start-ups and partnerships, do not issue bonds in the debt markets, nor do they borrow from Goldman Sachs.  So these firms have been left out in the cold, as federal credit inventions have favored corporate America. Adding insult to injury is that not only has Washington subsidized credit to large firms, it has taken ac... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2857397 Fri, 02 Oct 2009 21:33:57 +0100 2857397 http://www.medworm.com/index.php?rid=2839003&cid=t_140769_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F09%2F28%2Fthe-situation-of-credit-card-regulation%2F Situationist Contributor Adam Benforado recently published the following op-ed, titled “Time to Rein in Tricks of the Financial Trade,” in Cap Times. * * * I have a confession: I teach contract law, and I do not understand everything in my credit card agreement. If business law professors are getting lost in the fine print of consumer financial products, we have a fundamental problem. Back in the early 1980s, the average credit card contract filled up a single page. Today, a similar agreement runs to more than 30. These contracts are designed to maximize company profits by hiding costly traps for consumers in a dense forest of confusing provisions and mysterious words like “LIBOR” and “Cash Equivalent Transactions.” It is no wonder that a 2006 study by t... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2839003 Mon, 28 Sep 2009 04:01:16 +0100 2839003 http://www.medworm.com/index.php?rid=2765997&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FB493KuxXxbI%2F The housing boom and bust that occurred earlier in this decade resulted from efforts by Fannie Mae and Freddie Mac — the government sponsored enterprises with implicit backing from taxpayers — to extend mortgage credit to high-risk borrowers. This lending did not impose appropriate conditions on borrower income and assets, and it included loans with minimal down payments. We know how that turned out. Did U.S. policymakers learn their lessons from this debacle and stop subsidizing mortgage lending to risky borrowers? NO. Instead, the Federal Housing Authority lept into the breach: The FHA insures private lenders against defaults on certain home mortgages, an inducement to make such loans. Insurance from the New Deal-era agency has enabled lending to buyers who can’t make a big d... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2765997 Fri, 04 Sep 2009 14:23:40 +0100 2765997 http://www.medworm.com/index.php?rid=2761844&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FXrro-L3wCvE%2F A story in the Washington Post today is headlined: “Obama Would Keep $85 Billion in Tax Breaks for Working Poor.” The “tax breaks” in question are expansions in the earned income tax credit and the child tax credit. The Post story repeatedly calls the expansions “tax breaks” and “tax cuts.” The budget expert quoted in the story calls them “tax cuts,” and so does a House staffer and a spokesperson for the president. But these are not tax cuts. They are expansions in the refundability of provisions in the tax code. That means that households that pay no federal income tax will receive larger welfare checks from the government under these Obama proposals. Obama has proposed a slew of “tax cuts” that are partly welfare p... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2761844 Thu, 03 Sep 2009 16:43:50 +0100 2761844 http://www.medworm.com/index.php?rid=2761847&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F-oeOAJhFBlI%2F As Neal and Andrew have already covered extensively, President Obama is set to address the nation’s school children, and the Secretary of Education has sent out marching orders to government teachers and lesson plans for the kids. The administration has now backpedaled from a classic political gaffe and cleaned up the most offensive aspects; asking kids to write about how they can help, explain why its important to listen to political leaders, etc. But I think a couple of points deserve repeating. From a push for vastly expanding federal involvement in preschool and early education to home visitations in the health care bills, the government remains intent on expanding its dominion (And hot on the heels of President Bush’s massive expansion of federal involvement in schools). But t... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2761847 Thu, 03 Sep 2009 12:34:43 +0100 2761847 http://www.medworm.com/index.php?rid=2727294&cid=t_140769_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fpress-release-new-patient-financing-company%2F Orange County, CA - National medical lender launches newest financing program for medical providers. US Based American Benefit Credit, Inc., announces it’s newest medical financing program after a successful pilot earlier this year. Aug 22, 2009 — Orange County, CA - American Benefit Credit, Inc., a US based finance company, today announced that it has launched it’s Select Rewards Visa® program for medical providers. Their out of the box approach with this financing solution has made them an overnight success in the medical community. “This product was needed in today’s financial crunch for medical providers and patients alike,” said Philip McClendon, American Benefit’s Vice President of Operations, “Hearing the need from our current medical re... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2727294 Mon, 24 Aug 2009 13:30:33 +0100 2727294 http://www.medworm.com/index.php?rid=2712065&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FacawJ5E21T8%2F Since the June House vote on the Waxman-Markey “cap-and-trade” bill, lawmakers from both chambers have backed significantly away from the legislation. The first raucous “town hall” meetings occurred during the July 4 recess, before health care. Voters in swing districts were mad as heck then, and they’re even more angry now. Had the energy bill not all but disappeared from the Democrats’ fall agenda, imagine the decibel level if members were called to defend it and Obamacare. But none of this has dissuaded the editorial boards of the The New York Times and Washington Post. Both newspapers featured uncharacteristically shrill editorials today demanding climate change legislation at any cost. The Post, at least, notes the political realities facing cap-and-trade and ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2712065 Tue, 18 Aug 2009 21:41:08 +0100 2712065 http://www.medworm.com/index.php?rid=2662539&cid=t_140769_109_f&fid=34795&url=http%3A%2F%2Fsoloshrink.blogspot.com%2F2009%2F08%2Frfid-in-credit-cards.html I believe that we are hearing and seeing enough about hacking and information theft from so many sources that I cannot succeed in conveying anything useful unless I limit my posts to small bits of the whole that are most likely to have an effect on the average person. Today that topic will be the addition of the "convenience" of having a RFID microchip embedded in their credit card. When one of my credit card companies sent me a shiny new card out of sequence (that is, my old one was two years away from expiring) I did what I usually do in such situations. I became suspicious. Why did they do this? I doubted that it was for my benefit or totally in my best interest. OK, what was different? There was a new word printed on the back and the note that I could now just wave my card near a stor... Solo Shrink blogs http://www.medworm.com/rss/comments.php?id=2662539 Sat, 01 Aug 2009 17:30:00 +0100 2662539 http://www.medworm.com/index.php?rid=2625957&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F5KElqCyhhK8%2F Here is the message members of Congress should send to Ben Bernanke during the Fed chief’s annual Capitol Hill testimony this week: He is fighting for his job. With his term up in January of next year, Bernanke needs to be called to account for the Fed’s many questionable actions during the financial turmoil of the past year. Even while correctly identifying the “global savings glut,” Bernanke sat by and did nothing about the unsustainable build-up of leverage in the housing market—the “bubble” which famously burst in late 2008. Bernanke also used Fed financing to bail out Bear Stearns and AIG—hotly political moves which should rightfully have been left to Congress—and oversaw the massive expansion of the Fed’s balance sheet from about $900 billion to over $2 trillion. ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2625957 Tue, 21 Jul 2009 18:24:29 +0100 2625957 http://www.medworm.com/index.php?rid=2613838&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fk4KyMt3g-yk%2F More than 250 economists have signed an “Open Letter to Congress and the Executive Branch” calling upon them to “defend the independence of the Federal Reserve System as a foundation of U.S. economic stability.” Allan Meltzer is not a signatory to the petition and he has explained why not.  The Fed has frequently not shown independence in the past, and there is no reason to expect it to do so reliably in the future.  Professor Meltzer has just completed a multi-volume history of the Fed and knows all-too-well of the Fed’s willingness to accommodate the policies of administrations from FDRs to Lyndon Johnson’s.  I would add that the Fed’s behavior under Chairman Bernanke breaks new ground in aligning the central bank’s policy with Treasury’s.  Much of what the Fed has... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2613838 Fri, 17 Jul 2009 12:37:06 +0100 2613838 http://www.medworm.com/index.php?rid=2605943&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fid-1khc1UNI%2F Earlier this week, SEC Chair Mary Shapiro appeared before Congress to suggest ways to fix the failings in our credit rating agencies.   Sadly her proposals miss the market, although that shouldn’t be so surprising as her suggestions appear to rest upon a misunderstanding of the problem. The thrust of the SEC’s current approach is more disclosure, such as releasing “pre-ratings” that debt issuers may get before final issuance.  Additional disclosure of ratings methodology and assumptions is likely to be useless.  Almost all that information was available during the building housing bubble.  The problem is that the rating agencies had little incentive to go beyond the consensus forecasts of increasing to at most modest declines in home prices.  These same assum... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2605943 Wed, 15 Jul 2009 16:27:44 +0100 2605943 http://www.medworm.com/index.php?rid=2598196&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FmU7eq3nB1Us%2F Jeffrey A. Miron explains in Reason why a government bail-out of most everyone was neither the only option nor the best option: When people try to pin the blame for the financial crisis on the introduction of derivatives, or the increase in securitization, or the failure of ratings agencies, it’s important to remember that the magnitude of both boom and bust was increased exponentially because of the notion in the back of everyone’s mind that if things went badly, the government would bail us out. And in fact, that is what the federal government has done. But before critiquing this series of interventions, perhaps we should ask what the alternative was. Lots of people talk as if there was no option other than bailing out financial institutions. But you always have a choice. You may not... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2598196 Mon, 13 Jul 2009 12:42:45 +0100 2598196 http://www.medworm.com/index.php?rid=2588342&cid=t_140769_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fpress-release-carecredit-adds-24-month-no-interst-payment-plan%2F Now the leader in patient financing offers extended, O% interest terms for qualified applicants. Used strategically, this product could increase your case acceptance and benefit patients who need significant restorative, prosthetic, or cosmetic dental procedures. Here’s the press release… COSTA MESA, CALIF., JULY 6, 2009 — In response to practice demand for expanded payment options that give patients longer terms to pay, CareCredit, the nation’s leading patient care financing program, recently added a 24 Month No Interest Payment Plan (if paid within promotion period). Oral health is important – in any economy. Now more than ever, dental teams are finding it necessary to provide patients with both a treatment plan that helps them achieve their dental goals, as well as hel... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2588342 Thu, 09 Jul 2009 13:01:55 +0100 2588342 http://www.medworm.com/index.php?rid=2580188&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FG0mO0zd61pU%2F I’ve written about PASS ID here a couple of times before - first on whether or not it’s a national ID and, second, on the politics of this REAL ID revival bill. Now I’ll take a look at whether it fixes the privacy issues with REAL ID. Privacy is complicated. Buckle up. The day the bill was introduced, the Center for Democracy and Technology issued a press release giving it a privacy stamp of approval. “The PASS ID Act addresses most of the major privacy and security concerns with REAL ID,” said Ari Schwartz, Vice-President of CDT. The release cited four ways that PASS ID was an improvement over the bill it’s modeled on, REAL ID. Interstate Data Sharing? First, CDT said, PASS ID “[r]emoves the requirement that states ‘provide electronic access... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2580188 Tue, 07 Jul 2009 14:50:21 +0100 2580188 http://www.medworm.com/index.php?rid=2570385&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FRXqlqo8xVqY%2F Technically, it was the companies which raised their fees.  But they did so to anticipate new legislative restrictions on fees taking effect.  Congress wanted to cut costs for consumers, but ended up costing them instead. Reports the Washington Post: Credit card companies are raising interest rates and fees seven months before new rules go into effect that will limit their ability to do so, much to the irritation of Congress and consumer advocates. Chase, for instance, will raise the minimum payment required of some of its customers from 2 percent to 5 percent of the statement balance starting in August. Chase and Discover have increased the maximum fee charged for transferring a balance to the card to 5 percent of the amount, up from 3 and 4 percent, respectively. Bank of America last ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2570385 Thu, 02 Jul 2009 13:22:23 +0100 2570385 http://www.medworm.com/index.php?rid=2561205&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FO6LF9UvFMYg%2F Despite the economy and the dogged opposition of powerful Big Ed, education tax credits are surviving and thriving. The latest state to jump into k-12 tax credits is Indiana. From the Friedman Foundation yesterday: Indiana lawmakers today approved a $2.5 million scholarship tax credit program in the home state of the Friedman Foundation for Educational Choice. The new scholarship program was inserted into the state’s budget and won approval in the late hours of the special legislative session. The bill, which passed the Senate 34-16 and the House 61-36, now goes to the governor who is anticipated to sign it in the coming days. Unfortunately, the credit is only 50% for each dollar donated, unlike the more powerful ones in PA, FL, and AZ. But I know Friedman, School Choice Indiana and ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2561205 Wed, 01 Jul 2009 17:11:09 +0100 2561205 http://www.medworm.com/index.php?rid=2561214&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FNgWMnomrBTM%2F Today the Obama Administration released a 152-page draft bill to create a new Consumer Financial Product Commission. While intended to protect against consumer confusion and reduce the likelihood of future financial crises, the proposed agency will at best have little impact and at worst contribute to the next financial crisis, with the added effect of decreased homeownership and increased litigation. The president promises that “those ridiculous contracts with pages of fine print that no one can figure out – those things will be a thing of the past,” The president ignores that those “ridiculous contracts” and “fine print” are the result of previous rounds of so-called consumer protections. The disclosures one receives with a mortgage or a credit card are those mandated by so... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2561214 Tue, 30 Jun 2009 19:34:00 +0100 2561214 http://www.medworm.com/index.php?rid=2477545&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FskNcd3Xcbxw%2F The Baltic nation of Latvia is in the middle of a serious economic downturn resulting largely from a credit bubble and excessive government spending. This created an opening for those who have long wanted to undo the nation’s flat tax and impose a discriminatory system. Indeed, the economic Luddites at the Tax Research Network were already celebrating the expected demise of the single-rate tax. Unfortunately for them (but fortunately for Latvians), the government made a stunning announcement that the flat tax will be retained according to Reuters: Latvia’s government is to reduce old age pensions and state sector salaries but not raise taxes, it said on Thursday as it tries to win more loans and avert crisis and possible currency devaluation. The five-party coalition ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2477545 Mon, 15 Jun 2009 12:52:25 +0100 2477545 http://www.medworm.com/index.php?rid=2473211&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1w2H0Azqqr8%2F As discussed in a recent Bloomberg piece, several U.S. senators from both parties are pushing to almost double the recently enacted $8,000 tax credit for first-time homebuyers to $15,000. The same senators are also pushing to remove the current income restrictions — $75,000 for individuals and $150,000 for couples — while also removing the first-time buyer requirement. The intent of the increase, and the original credit, is to increase the demand for housing and to create a “bottom” to the housing market. The flaw of this approach is that it creates a false bottom, one characterized by government-inflated prices and not fundamentals. It was excessive government subsidies into housing that helped create the housing bubble, additional subsidies to re-inflate the bubble will only pr... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2473211 Thu, 11 Jun 2009 15:07:25 +0100 2473211 http://www.medworm.com/index.php?rid=2441183&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FBsnDc2QO91o%2F The AP reports on a plan unfolding in Arizona to help keep foster children and kids with disabilities in schools of their choice: Republican-backed legislation to create new tax credits to help hundreds of foster children and disabled children attend private schools is advancing in the Legislature. On a special session’s second day, Senate and House committees on Tuesday endorsed the bill creating new corporate and insurance premium tax credits for donations for private school tuition grants. Priority would go initially to foster and disabled children who received vouchers that have been ruled unconstitutional by the Arizona Supreme Court. The Arizona Supreme Court has specifically and emphatically upheld education tax credits, so this effort should succeed if passed and signed. The ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2441183 Wed, 27 May 2009 12:46:17 +0100 2441183 http://www.medworm.com/index.php?rid=2424038&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAPEcfsVKigg%2F The USA Today editorializes this morning in support of the DC voucher program and school choice in general. That’s a shift from last year when Robert Enlow of the Friedman Foundation had to respond to their dismissal of vouchers. From the enlightened board: As an Education Department spokesman says, “The unions are not happy.” But 20 million low-income school kids need a chance to succeed. School choice is the most effective way to give it to them. The shift of center-left elite opinion on school choice is a hugely important development, as I noted with the first wave of mainstream media attention to the DC voucher program’s death-sentence: When elites unite on mainstream issues, the public’s response is relatively nonideological and lopsided. School choice is progr... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2424038 Tue, 19 May 2009 14:23:13 +0100 2424038 http://www.medworm.com/index.php?rid=2424040&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F_VHxY3lEetI%2F One of the best laugh lines always has been “I’m from the government and I’m here to help you.”  Certainly that’s true when it comes to consumer protection. In the name of saving customers from the evil, rapacious credit card companies Congress plans on limiting access to credit.  It also is working to hike costs for people with good credit. Reports the New York Times: Now Congress is moving to limit the penalties on riskier borrowers, who have become a prime source of billions of dollars in fee revenue for the industry. And to make up for lost income, the card companies are going after those people with sterling credit. Banks are expected to look at reviving annual fees, curtailing cash-back and other rewards programs and charging interest immediately on a... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2424040 Tue, 19 May 2009 12:43:22 +0100 2424040 http://www.medworm.com/index.php?rid=2414746&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fv5YrgURk1hc%2F White House Official Says Government Will Stop Using Term ‘War on Drugs’ The Wall Street Journal reports that White House Drug Czar Gil Kerlikowske is calling for a new strategy on federal drug policy and is putting a stop to the term “War on Drugs.” The Obama administration’s new drug czar says he wants to banish the idea that the U.S. is fighting ‘a war on drugs,’ a move that would underscore a shift favoring treatment over incarceration in trying to reduce illicit drug use…. The Obama administration is likely to deal with drugs as a matter of public health rather than criminal justice alone, with treatment’s role growing relative to incarceration, Mr. Kerlikowske said. Will Kerlikowske’s words actually translate to an actual shift ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2414746 Fri, 15 May 2009 19:18:09 +0100 2414746 http://www.medworm.com/index.php?rid=2414749&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FbNwzdN2ia3Y%2F A tax credit bill was recently proposed in South Carolina to give parents an easier choice between public and private schools. It would do this by cutting taxes on parents who pay for their own children’s education, and by cutting taxes on anyone who donates to a non-profit Scholarship Granting Organization (SGO). The SGOs would subsidize tuition for low income families (who owe little in taxes and so couldn’t benefit substantially from the direct tax credit). Charleston minister Rev. Joseph Darby opposes such programs, and I support them. We’ve decided to have this dialogue to explain why. Our closing comments will appear next Tuesday, and the previous installments are here and here. Rev. Joe Darby Second Response We agree on something, Andrew — you don’t lock kids in a b... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2414749 Fri, 15 May 2009 16:10:23 +0100 2414749 http://www.medworm.com/index.php?rid=2405022&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FRiMBjn2iPXc%2F While much of the debate around the so-called “Credit Cardholders’ Bill of Rights” has been on ending various card policies aimed at disguising different credit risks, one group of cardholders is certain to lose their right to credit under this bill: adults between the ages of 18 and 21. Under the current Senate bill, the only way for someone under the age of 21 to get a credit card would be either: 1) they have a co-signer, such as their parent, sign for it, or 2) they maintain a job with sufficient income to cover any obligations arising from the credit card. By contrast, neither of these requirements is put in place for student loans; there is the clear expectation that you pay those loans back in the future from your increased future income that results from going to ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405022 Thu, 14 May 2009 17:51:06 +0100 2405022 http://www.medworm.com/index.php?rid=2405027&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F51Qr1ymVBqE%2F Congress is off on another crusade, to save Americans from credit cards.  People get into debt, run up big fees, generally feel abused, and complain to their elected officials.  Never mind the obvious convenience, which is why credit cards have become an indispensable part of American commerce.  Legislators plan on micro-managing the credit terms which may be offered across America. Reports the New York Times: “We like credit cards — they are valuable vehicles for many people,” said Senator Christopher J. Dodd, Democrat of Connecticut, the chairman of the Senate banking committee and author of the measure now being considered by the Senate. “It’s when these vehicles are being abused by the card issuers at the expense of the consumers that we must step in and change the rules.�... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405027 Thu, 14 May 2009 13:07:07 +0100 2405027 http://www.medworm.com/index.php?rid=2405030&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FAMh0VpAbmsk%2F It’s a given that, once in place, a national ID would be used for additional purposes. In case you needed proof, on Wednesday, Senator David Vitter (R-LA) offered an amendment to H.R. 627, the Credit Cardholders’ Bill of Rights Act of 2009, requiring the Federal Reserve to impose federal identification standards on the opening of new credit accounts. Among the limited forms of ID credit issuers could accept are REAL ID cards, produced under the moribund national ID law. (Vitter may not realize that REAL ID is in collapse.) To compound things, his amendment would require credit issuers to run new credit card applicants past terrorist watch-lists. The sense of normalcy, efficiency, and common sense that makes airports so pleasurable to visit today would infect our financial servi... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405030 Thu, 14 May 2009 13:01:48 +0100 2405030 http://www.medworm.com/index.php?rid=2405037&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FS1ga3UOJXco%2F The USA Today takes note of the fact that support for school choice is growing among Democratic, often black, politicians: While vouchers will likely never be the clarion call of Democrats, they’re beginning to make inroads among a group of young black lawmakers, mayors and school officials who have split with party and teachers union orthodoxy on school reform. The group includes Sacramento Mayor Kevin Johnson, Newark Mayor Cory Booker and former Washington, D.C., mayor Anthony Williams. I’d only add that this broadening support is hardly limited to black Democrats, and that support for education tax credits is spreading even more quickly among Democrats. And while choice might never become a Democratic “clarion call,” it just might become the new consensus among serio... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405037 Wed, 13 May 2009 15:31:58 +0100 2405037 http://www.medworm.com/index.php?rid=2405038&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FN_eTKAOix2M%2F Recently on Leno, President Obama compared some financial products to an exploding toaster. His words: When you buy a toaster, if it explodes in your face there’s a law that says your toasters need to be safe. But when you get a credit card, or you get a mortgage, there’s no law on the books that says if that explodes in your face financially, somehow you’re going to be protected. So this is — the need for getting back to some common sense regulations — there’s nothing wrong with innovation in the financial markets. We want people to be successful; we want people to be able to make a profit. Banks are critical to our economy and we want credit to flow again. But we just want to make sure that there’s enough regulatory common sense in place that ord... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2405038 Wed, 13 May 2009 15:23:22 +0100 2405038 http://www.medworm.com/index.php?rid=2405757&cid=t_140769_125_f&fid=34820&url=http%3A%2F%2Fwww.dentalblogs.com%2Farchives%2Fadministrator%2Fpress-release-carecredits-free-cd-for-dental-practice-growth%2F FREE AUDIO PROGRAM HELPS DENTAL TEAMS GROW THEIR PRACTICES – EVEN IN A CHALLENGING ECONOMY COSTA MESA, CA., MAY 2009 — CareCredit, the nation’s leading patient payment program is offering a FREE one-hour educational audio CD, Three Steps to Grow Your Practice Starting Today!, featuring Gary Kadi, founder of NextLevel Practice. Kadi is a recognized authority and author on leadership, management, organizational transformation and performance. His first book, Million Dollar Dentistry is currently distributed in 37 countries while the sequel, Raise Your HDL: Healthy Deserve Level for Successful Dental Teams, was released in early 2009. In this informative, hour-long audio program, Gary Kadi shares his insights and proven formulas to grow a dental practice from the “inside-out” by foc... dental blog for dentists about dentistry blogs http://www.medworm.com/rss/comments.php?id=2405757 Wed, 13 May 2009 13:18:20 +0100 2405757 http://www.medworm.com/index.php?rid=2399008&cid=t_140769_125_f&fid=34819&url=http%3A%2F%2Fflapsblog.com%2F2009%2F05%2F08%2Fthe-permanent-obama-campaign-credit-card-edition%2F President Barack Obama will be holding a town hall meeting next week in New Mexico to promote congressional efforts to reform credit card practices. Is hope on the way for those who cannot pay their credit card bills? Sadly no. Obama is just hyping his already announced reforms in a key swing state which he won last November. No bailouts - at least not yet. Technorati Tags: Barack Obama, Credit Cards Bookmark/Search this post with: (Source: FullosseousFlap's Dental Blog) FullosseousFlap's Dental Blog blogs http://www.medworm.com/rss/comments.php?id=2399008 Fri, 08 May 2009 22:32:34 +0100 2399008 http://www.medworm.com/index.php?rid=2380719&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FX0b_ROzNVzw%2F With a vote expected today on the so-called Credit Card Holders’ Bill of Rights, the U.S. House is poised to follow up on President Obama’s finger-wagging rhetoric about fees and other perceived sins of the credit industry. But Congress should keep in mind that credit cards have been a significant source of consumer liquidity during this downturn. Now is the worst time to push measures that would curtail the availability of consumer credit, and that is exactly what the Credit Card Holders’ Bill of Rights will do. While few of us want to have to cover our basic living expenses on our credit card, that option is certainly better than going without those basic needs. The wide availability of credit cards has helped to significantly maintain some level of consumer purchasing dur... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380719 Thu, 30 Apr 2009 19:06:27 +0100 2380719 http://www.medworm.com/index.php?rid=2380731&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F6mnqDu-jDMo%2F God hates the sin but loves the sinner, we are told.  Americans have a similar attitude towards credit cards.  They love the cards but hate the card issuers. Naturally, President Barack Obama has picked up on this sentiment and wants the credit card companies to be “fair.”  Reports the Washington Post: The Obama administration yesterday called for an end to unfair credit card industry practices such as retroactive interest rate increases for any reason, late-fee traps that penalize borrowers with weekend or middle-of-the-day deadlines and teaser rates that last less than six months. In a written statement released by the Treasury Department, the administration outlined practices it would like Congress to reform as it considers two bills that would crack down on the industry... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380731 Thu, 30 Apr 2009 12:36:49 +0100 2380731 http://www.medworm.com/index.php?rid=2380736&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FcqV-tk4Ahuo%2F When the Florida Legislature passed its education tax credit program in 2001, only one Democrat supported the measure. Last year, the legislature expanded the program with votes from one third of statehouse Democrats, half the black caucus and the entire Hispanic caucus. Last week, nearly half of House Democrats —47 percent—voted to significantly expand the revenue base for the state’s business donation tax credit program. House Republicans voted 100 percent in favor. And yesterday, nearly a third of Senate Democrats—31 percent—voted to expand the tax credit program. And 92 percent of their Republican colleagues voted for the bill. In all, 43 percent of state Democratic legislators voted in favor of education tax credits. Governor Crist is expected to sign the bill shortly. T... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2380736 Wed, 29 Apr 2009 19:12:09 +0100 2380736 http://www.medworm.com/index.php?rid=2364915&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPyJ99_aPjrg%2F I was in South Carolina yesterday testifying before a state committee in support of a great piece of education tax credit legislation. The turnout and energy down there was impressive. The fight for educational freedom has dragged on for years in SC, but the movement seems to have grown in strength considerably over that period. Parents are now more organized, homeschoolers and private school groups are more integrated and active, and the votes are a lot closer. More than 200 supporters showed up to support the bill and testify, and their stories were compelling and sometimes heart-rending. Our public education system just doesn’t work for everyone. And when I say “doesn’t work,” I mean that a child with severe learning disabilities ends up unable to function in society or a child... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2364915 Fri, 24 Apr 2009 18:03:58 +0100 2364915 http://www.medworm.com/index.php?rid=2364917&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fm2fJhXkh_VY%2F Just when I was getting so jaded by federal education politics that I could have been displayed as part of this exhibit, the Sunshine State comes along and brightens my day. It’s not just that the Florida Assembly voted to strenghten its k-12 scholarship tax credit program yesterday, it’s that the vote was 94 to 23. In addition to almost universal Republican support, the bill garnered the votes of half the entire state Democratic caucus! As I wrote on this blog last year, “the [school choice] times they are a changin’.” Democrats in Washington don’t understand that yet. Perhaps they spend too much time with DC’s NEA lobbyiests. Whatever the reason, the long term health of the Democratic Party depends on its celebration  of its pro-school-cho... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2364917 Fri, 24 Apr 2009 16:10:57 +0100 2364917 http://www.medworm.com/index.php?rid=2364930&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FPGubr1k8ky8%2F A new poll released today reveals that 43 percent of African Americans in South Carolina support private school choice while only 40 percent oppose it. What’s even more interesting, however, is that 53 percent said that “giving parents a tax credit or scholarship to choose the best school for their children — public or private — would improve the state’s dismal high school graduation rate.” So an additional 10 percent of respondents think the program will work but don’t currently support it. Why? Perhaps because many black religious and political leaders in South Carolina have criticized the concept for years. Take, for instance, the Rev. Joe Darby, a Charleston Minister I had the pleasure of communicating with a few years ago. Very pleasant guy. Absolutely ... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2364930 Thu, 23 Apr 2009 14:48:10 +0100 2364930 http://www.medworm.com/index.php?rid=2356878&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2FtgyCtikjnIU%2F Last month, I warned that the 9th Circuit Court of Appeals would soon be handing the school choice movement a legal setback. Well, it’s here. As expected, the 9th Circuit has reinstated a lower court challenge to Arizona’s scholarship donation tax credit program. The program allows taxpayers to contribute to non-profit Scholarship Tuition Organizations (STOs) that provide financial assistance to families choosing private schools. The taxpayers can then claim a dollar for dollar credit for their donation. While this ruling leaves the program intact for the time being, it would almost surely require the tax credit program to be amended if it is allowed to stand. Fortunately, as I noted in my earlier post, the 9th Circuit is overturned as often as a caber at the Highland Games.... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2356878 Wed, 22 Apr 2009 06:04:28 +0100 2356878 http://www.medworm.com/index.php?rid=2347780&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2F1GNenFCOm7E%2F The California Assembly Committee on Revenue and Taxation is holding hearings today on bill AB 279, the “Great Schools Tax Credit Act.” This bill is much like the scholarship donation tax credit program in Florida, which is a bi-partisan success that saves the state $1.49 for every $1 it reduces state revenue. But you wouldn’t know that if you read the Committee’s remarkably flawed official Bill Analysis. Among other things, the Bill Analysis glaringly misrepresents Adam Schaeffer’s ”Public Education Tax Credit” paper, incorrectly calls tax credited donations public funds, omits crucial findings from other states that favor credits, and engages in unsubstantiated speculation. To address its failings, I penned the following letter which is bei... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2347780 Mon, 20 Apr 2009 17:52:20 +0100 2347780 http://www.medworm.com/index.php?rid=2348441&cid=t_140769_109_f&fid=36089&url=http%3A%2F%2Fthesituationist.wordpress.com%2F2009%2F04%2F11%2Fare-debtors-rational-actors-abstract%2F Promising young scholar, Chrystin Ondersma, published her excellent new article, titled “Are Debtors Rational Actors? An Experiment” in 13 Lewis & Clark L. Rev. 279 (2009). Here’s the abstract. * * * This Article examines patterns in bankruptcy filing data to determine whether this data supports the simplistic Rational Actor model that is the basis for Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA). The Article closely reviews the Rational Actor and Situationist models–the current debate about human behavior in bankruptcy context. Analysis of empirical data of pre-BAPCPA, post- BAPCPA, and current filings demonstrate that while BAPCPA reduced the number of filings nationally, unexplained variation in filing patterns exist. These findings sugge... The Situationist blogs http://www.medworm.com/rss/comments.php?id=2348441 Sat, 11 Apr 2009 04:01:53 +0100 2348441 http://www.medworm.com/index.php?rid=2263769&cid=t_140769_87_f&fid=36438&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2FCato-at-liberty%2F%7E3%2Fiib0MiDT0Tk%2F Yesterday a universal voucher bill heavily promoted by state Sen. Eric Johnson died in the Georgia legislature. I can’t understand why anyone continues to push for a brand-new voucher program when they already have a universal education tax credit. Tax credits are more popular and pose less of a threat to private schools and homeschoolers than vouchers, and Georgia already has a tax credit program. All they need to do is lift the cap on available tax credits, which is set at $50 million. School choice programs actually save money — billions of dollars in fact — so there is no sense in capping the program, especially during an economic downturn. And there is no sense in pushing for a new, inferior policy when you can focus your efforts on increasing funding for an existing law. (Sou... Cato-at-liberty blogs http://www.medworm.com/rss/comments.php?id=2263769 Fri, 13 Mar 2009 21:15:55 +0100 2263769 http://www.medworm.com/index.php?rid=2241255&cid=t_140769_97_f&fid=35606&url=http%3A%2F%2Fwww.theangriestpharmacist.com%2F2009%2F03%2F07%2Fburn-a-hole%2F Everyone’s had money in their pocket that was damn near burning a hole in it. Most of us experienced that when we were 13, got a $20 bill as a birthday present from grandma, and blew it the next day at K-Mart on some worthless bullshit we didn’t need — like an erotic poster featuring Ann Coulter or a Bart Simpson pullstring doll that says, “Cowabunga DUDE,” in three different languages. Why is it most adults experiencing Holus Burnus Pocketus are patients in my pharmacy? Today, I had the following conversation: “Okay, we’ll have these three ready for you in about 15 minutes.” “How much is it?”  [They always gotta know!] “Well, we have to run it through your insurance for you. They decide on the price, but glancing at it, I... The Angriest Pharmacist blogs http://www.medworm.com/rss/comments.php?id=2241255 Sat, 07 Mar 2009 05:23:51 +0100 2241255 http://www.medworm.com/index.php?rid=2207029&cid=t_140769_133_f&fid=37107&url=http%3A%2F%2Ffeedproxy.google.com%2F%7Er%2Faspieweb%2F%7E3%2FC2oV6-difaA%2F The current Recession is taking a large bite out of the services many special needs individuals receive, including those with Autism Spectrum Disorders.  I’m starting to see those large cutbacks and consolidation in services I receive. Last week I was informed that the program I am part of is no longer renewing any leases with the [...] (Source: AspieWeb.net) AspieWeb.net blogs http://www.medworm.com/rss/comments.php?id=2207029 Mon, 23 Feb 2009 15:26:19 +0100 2207029