Perhaps the biggest problem with the Obama plan to “reform” our financial system is the impact it would have on the market perception surrounding “too big to fail” institutions.  In identifying some companies as “too big to fail” holders of debt in those companies would assume that they would be made whole if those companies failed.  After all, that is what we did for the debt-holders in Fannie, Freddie, AIG, and Bear.  Both former Secretary Paulson and Geithner appear under the impression that moral hazard only applies to equity, despite debt constitutin

At his coming out speech this week, the new head of the Federal Communications Commission appointed himself top cop on the Internet (as chronicled by Reason's own Peter Suderman). By threatening to apply the I know it when I see it standard for discriminatory violations of "open access" to the Internet, chairman Julius Genachowski follows in the footsteps of many regulators before him.

Will Americans get “quality time” with proposed health care legislation before it passes?
Some say no: The Senate Finance Committee recently turned back an effort to put Chairman Max Baucus’ bill online for 72 hours before the committee’s vote. The Committee is on the wrong side of history.

Speaking at a food security conference in Milan, Nestlé chairman Peter Brabeck-Letmathe today criticized “well-fed activists” whose protests and lobbying activities have, in his opinion, held back the adoption of food technologies that could help the starving poor:
It is disheartening to see how easily a group of well-intentioned and well-fed activists can decide about new technologies at the expense of those who are starving.

The Idaho Statesman reports: Protesters in Idaho and all around the country suggest President Barack Obama is waging war on capitalism, gun ownership and even small-town values. But no one is accusing him of assaulting the traditional resource values of the American West - not even the Idaho Cattle Association, which was ready for the fight after Obama was elected last November....In fact, in the most high-profile Western decisions so far - on wolves and salmon - the Obama administration followed the lead of Republican George W. Bush.

The Department of Health and Human Services orders Humana Corp to stop sending out letters to its members claiming that elements of the current health care reform plan flailing about in Congress could cause them to "lose many of the important benefits and services that make Medicare Advantage plans so valuable," claiming the letters are "misleading and confusing."

'Tis the season of middle class
entitlements, and the Room for Debate blog over at the
New York Times site has a good forum up about everyone's
favorite entitlement—higher education!

One great
contribution, from engineer Alfonso Trujillo:

The email revelations from the British Climate Research Unit sure
have provoked a lot embarrassed spinning by proponents of
impending catastrophic climate change. For example, Australian
Broadcasting Online offers these
choice observations from global warming activist, Australian
of the Year (2007) and Copenhagen Climate Council chairman Tim
Flannery: