October 25, 2011

One Term for the Fed Chairman

This reduces the temptation to manipulate rates in a manner that panders to politicians, the President in particular.

If a given Fed chair is supposedly irreplaceable--the Greenspan debacle is a counterexample--, the Fed is structured incorrectly and invested with too much power.

Maybe the single term should be made longer than the current renewable term.

October 6, 2011

Worst I've Seen Yet

Forfeiture abuse: the authorities are trying to seize the property of a motel owner who has cooperated with them against crime, leaving similar corporate properties unmolested.

Such seizures, of course, are the kind of thing that the Bill of Rights is supposed to prevent. Is the government returning to the days of predatory Roman tax collectors?

(The foregoing assumes that the facts of the case are as presented by the Institute for Justice.)