In this issue

Jonathan Tobin: Defending the Right to a Jewish State

Heather Hale: Compliment your kids without giving them big heads

Megan Shauri: 10 ways you are ruining your own happiness

Carolyn Bigda: 8 Best Dividend Stocks for 2015

Kiplinger's Personal Finance editors: 7 Things You Didn't Know About Paying Off Student Loans

Samantha Olson: The Crucial Mistake 55% Of Parents Are Making At Their Baby's Bedtime

Densie Well, Ph.D., R.D. Open your eyes to yellow vegetables

The Kosher Gourmet by Megan Gordon With its colorful cache of purples and oranges and reds, COLLARD GREEN SLAW is a marvelous mood booster --- not to mention just downright delish
April 18, 2014

Rabbi Yonason Goldson: Clarifying one of the greatest philosophical conundrums in theology

Caroline B. Glick: The disappearance of US will

Megan Wallgren: 10 things I've learned from my teenagers

Lizette Borreli: Green Tea Boosts Brain Power, May Help Treat Dementia

John Ericson: Trying hard to be 'positive' but never succeeding? Blame Your Brain

The Kosher Gourmet by Julie Rothman Almondy, flourless torta del re (Italian king's cake), has royal roots, is simple to make, . . . but devour it because it's simply delicious

April 14, 2014

Rabbi Dr Naftali Brawer: Passover frees us from the tyranny of time

Greg Crosby: Passing Over Religion

Eric Schulzke: First degree: How America really recovered from a murder epidemic

Georgia Lee: When love is not enough: Teaching your kids about the realities of adult relationships

Cameron Huddleston: Freebies for Your Lawn and Garden

Gordon Pape: How you can tell if your financial adviser is setting you up for potential ruin

Dana Dovey: Up to 500,000 people die each year from hepatitis C-related liver disease. New Treatment Has Over 90% Success Rate

Justin Caba: Eating Watermelon Can Help Control High Blood Pressure

The Kosher Gourmet by Joshua E. London and Lou Marmon Don't dare pass over these Pesach picks for Manischewitz!

April 11, 2014

Rabbi Hillel Goldberg: Silence is much more than golden

Caroline B. Glick: Forgetting freedom at Passover

Susan Swann: How to value a child for who he is, not just what he does

Cameron Huddleston: 7 Financial Tasks You Should Tackle Right Now

Sandra Block and Lisa Gerstner: How to Profit From Your Passion

Susan Scutti: A Simple Blood Test Might Soon Diagnose Cancer

Chris Weller: Have A Slow Metabolism? Let Science Speed It Up For You

The Kosher Gourmet by Diane Rossen Worthington Whitefish Terrine: A French take on gefilte fish

April 9, 2014

Jonathan Tobin: Why Did Kerry Lie About Israeli Blame?

Samuel G. Freedman: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Jessica Ivins: A resolution 70 years later for a father's unsettling legacy of ashes from Dachau

Kim Giles: Asking for help is not weakness

Kathy Kristof and Barbara Hoch Marcus: 7 Great Growth Israeli Stocks

Matthew Mientka: How Beans, Peas, And Chickpeas Cleanse Bad Cholesterol and Lowers Risk of Heart Disease

Sabrina Bachai: 5 At-Home Treatments For Headaches

The Kosher Gourmet by Daniel Neman Have yourself a matzo ball: The secrets bubby never told you and recipes she could have never imagined

April 8, 2014

Lori Nawyn: At Your Wit's End and Back: Finding Peace

Susan B. Garland and Rachel L. Sheedy: Strategies Married Couples Can Use to Boost Benefits

David Muhlbaum: Smart Tax Deductions Non-Itemizers Can Claim

Jill Weisenberger, M.S., R.D.N., C.D.E : Before You Lose Your Mental Edge

Dana Dovey: Coffee Drinkers Rejoice! Your Cup Of Joe Can Prevent Death From Liver Disease

Chris Weller: Electric 'Thinking Cap' Puts Your Brain Power Into High Gear

The Kosher Gourmet by Marlene Parrish A gift of hazelnuts keeps giving --- for a variety of nutty recipes: Entree, side, soup, dessert

April 4, 2014

Rabbi David Gutterman: The Word for Nothing Means Everything

Charles Krauthammer: Kerry's folly, Chapter 3

Amy Peterson: A life of love: How to build lasting relationships with your children

John Ericson: Older Women: Save Your Heart, Prevent Stroke Don't Drink Diet

John Ericson: Why 50 million Americans will still have spring allergies after taking meds

Cameron Huddleston: Best and Worst Buys of April 2014

Stacy Rapacon: Great Mutual Funds for Young Investors

Sarah Boesveld: Teacher keeps promise to mail thousands of former students letters written by their past selves

The Kosher Gourmet by Sharon Thompson Anyone can make a salad, you say. But can they make a great salad? (SECRETS, TESTED TECHNIQUES + 4 RECIPES, INCLUDING DRESSINGS)

April 2, 2014

Paul Greenberg: Death and joy in the spring

Dan Barry: Should South Carolina Jews be forced to maintain this chimney built by Germans serving the Nazis?

Mayra Bitsko: Save me! An alien took over my child's personality

Frank Clayton: Get happy: 20 scientifically proven happiness activities

Susan Scutti: It's Genetic! Obesity and the 'Carb Breakdown' Gene

Lecia Bushak: Why Hand Sanitizer May Actually Harm Your Health

Stacy Rapacon: Great Funds You Can Own for $500 or Less

Cameron Huddleston: 7 Ways to Save on Home Decor

The Kosher Gourmet by Steve Petusevsky Exploring ingredients as edible-stuffed containers (TWO RECIPES + TIPS & TECHINQUES)

Jewish World Review July 16, 2010 / 5 Menachem-Av, 5770

Financial Disaster

By Linda Chavez

http://www.JewishWorldReview.com | Anytime Congress passes a 2,300-page law that creates more than 500 new regulations and sets up a new, complicated bureaucracy, we should be nervous. And the major financial overhaul that has cleared the final hurdles in the Senate proves the rule. The legislation — the brainchild of Sen. Chris Dodd, D-Conn., and Rep. Barney Frank, D-Mass. — is the biggest overhaul of the nation's financial industry since the 1930s. Its Democratic supporters claim it was necessary to prevent another economic meltdown like the one we suffered in 2008.

But no one knows whether it will do any such thing. Even Dodd acknowledged this week, "(Americans) don't ask for perfection. They know we have not solved every problem and that we are not going to bring back their homes and their jobs; but they expect us to respond to the situation that brought us to the brink of financial disaster. This is our best effort to do so."

The bill goes far beyond attempting to regulate the risky derivatives market that led to the credit crisis in the fall of 2008, however. The bill literally touches every American who hopes to buy anything on credit in the future, dictates new capital standards for banks and other institutions, paves the way for new rules for selecting corporate boards of directors, and gives the government broad new powers to seize financial firms.

Like most Democratic solutions, this one rests on bigger government with greater powers to inject itself directly into the economy. Instead of allowing the free market to work — which entails risk of failure — the government will now try to foresee all possible dangers and attempt to prevent them.

A new Federal Insurance Office will monitor the insurance industry to try to prevent "systemically important" insurers — like the 2008 version of AIG — from going under. A new Financial Stability Council will assess risks of large financial institutions and could even break up firms it deems too risky. A new Consumer Financial Protection Bureau in the Federal Reserve will make new rules for large banks, credit unions and other consumer lending companies — except for car dealerships, which managed to get themselves excluded through their political clout.

But the unintended consequences may well be tightening credit for consumers and businesses. In its attempt to protect individuals (and businesses) from the consequences of their own bad decisions, Big Government will now try to foresee all possible risks and mitigate them. How noble. And how naively Utopian.

Don't get me wrong. I'm not opposed to all government regulation. It's a question of how much and what kind. The best type of regulation, in my view, is one that promotes transparency. Security and Exchange Commission regulations that force companies to disclose audited financial information to investors promote good business practices. Rules that require companies to report the salaries, bonuses, and perquisites of top executives provide a check on excessive compensation. Regulations that force lenders to disclose accurate information on the costs of borrowing protect consumers without constricting credit. Requiring that financial institutions keep records and report the complicated derivative instruments they devise and swap makes sense. But empowering government agencies to make decisions on what constitutes too much risk doesn't.

Dodd claims, "The American public expects nothing less of us than to fashion proposals that will minimize great risks to them." But what about the risk of government overreach?

The Obama administration and Democrats in Congress have already revamped the American health system. Now they intend to overhaul the U.S. financial system. Yet few of the people in charge of this massive government intrusion have any experience in the industries they think they know best how to run.

A government that can't even pay its own bills and must borrow against the future earnings of people not yet born seems a bad choice to oversee the financial well-being of the nation.

Every weekday JewishWorldReview.com publishes what many in the media and Washington consider "must-reading". Sign up for the daily JWR update. It's free. Just click here.

JWR contributor Linda Chavez is President of the Center for Equal Opportunity. Her latest book is "Betrayal: How Union Bosses Shake Down Their Members and Corrupt American Politics". (Click HERE to purchase. Sales help fund JWR.)

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