In Defense of Speculators, Part I: Options Traders

American politicians from all across the ideological spectrum are beginning to blame speculators for our collective woes.

John McCain and Barack Obama both blame speculators for high oil prices—never mind the fact that these traders are only reacting to the threat of U.S. aggression against Iran when they bid up the price of . . . → Read More: In Defense of Speculators, Part I: Options Traders

Credit Card Reform: Is Abusive Lending the New Normal?

According to a New York Times business editorial published on August 5th, when the Federal Reserve recently asked for comments on its proposed rules on abusive credit card practices, it received over 56,000 responses. Most of the responses were from credit card customers who were enraged over practices such as arbitrary interest rate hikes . . . → Read More: Credit Card Reform: Is Abusive Lending the New Normal?

New Proposal to Increase Cars’ Fuel Economy Will Hurt the Auto Industry

Under the Energy Independence and Security Act passed last year, the Department of Transportation (DOT) has to raise the fuel economy standard for cars and light trucks to a fleet-wide average of 35 miles per gallon by 2020. The act also gives the DOT the authority to fix interim standards. The government’s recent proposal . . . → Read More: New Proposal to Increase Cars’ Fuel Economy Will Hurt the Auto Industry