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"The structure of U.S. financial intermediation will probably undergo significant changes over the next few years. The American financial system, if it remains true to its history, will adapt and innovate its way back to profitability and high stock prices sooner than is suggested by the dire predictions that fill today's newspapers."

--Charles W. Calomiris
AEI paper

 


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A Financial Rescue Plan Takes Shape

President George W. Bush meets with congressional leaders in the Cabinet Room at the White House on September 25, 2008. Photo by David Bohrer / White House.  
President George W. Bush meets with congressional leaders in the Cabinet Room at the White House on September 25, 2008. Photo by David Bohrer / White House.
 
Just two days after the House of Representatives voted down the $700 billion financial rescue plan and triggered a record fall by the Dow, the Senate passed a package brimming with sweeteners to attract enough supporters on a second go-round in the house. On Friday, the rescue bill was approved by the House and sent on to the president for his signature. AEI scholars have been reporting on the crisis and monitoring the shape and substance of the administration's proposal and the alternatives. While the administration's willingness to consider bold action was useful, many of the provisions in the package were cause for concern. Procedural and political considerations will dominate the discussions in the hours and days to come, and some hard questions need to be answered so that we are able to protect the financial system and taxpayers.

Click here for AEI scholars who are available to comment on the financial crisis.

Short Publications
Banning Ranbaxy's Bad Drugs Is Good Move
By Roger Bate
Posted: Friday, October 3, 2008
The Subprime Turmoil
What's Old, What's New, and What's Next
By Charles W. Calomiris
Posted: Thursday, October 2, 2008
Iran's Revolutionary Guards--A Rogue Outfit?
By Michael Rubin
Posted: Thursday, October 2, 2008
[More Short Publications]

Upcoming Events
Beyond Georgia: Securing America's Allies on Russia's Periphery
Monday, October 6, 2008
Some Reflections on Burke's Reflections
Bradley Lecture by Gertrude Himmelfarb
Monday, October 6, 2008
The Theory and Practice of Bailouts
Wednesday, October 8, 2008
[More Upcoming Events]

Recent Events
Climate Change and the Rights of Future Generations
AEI Center for Regulatory and Market Studies
Friday, October 3, 2008
[More Recent Events]

Latest Books
Innovation and Technology Adoption in Health Care Markets
By Tomas J. Philipson, Anupam B. Jena
Posted: Thursday, September 18, 2008
Drill Here, Drill Now, Pay Less
A Handbook for Slashing Gas Prices and Solving Our Energy Crisis
By Newt Gingrich, Vince Haley
Posted: Thursday, September 11, 2008
The Future of Educational Entrepreneurship
Possibilities for School Reform
Edited by Frederick M. Hess
Posted: Wednesday, August 27, 2008
[More Books]


Peter J. Wallison
Peter J. Wallison on Fannie and Freddie

Peter J. Wallison, who has long studied and warned about the problems of the large government-sponsored enterprises Fannie Mae and Freddie Mac, spoke to Fox News's David Asman. Wallison is the author of several AEI Press books on the GSEs.


The American
The AmericanThe American magazine brings subscribers fresh and insightful coverage of business, economics, culture, and more. In the current issue, which is available on newsstands, Charles Murray offers unconventional wisdom on the purpose of a college education, Jonathan Yardley proposes a way to save newspapers, Nick Schulz and Arnold Kling discuss "the Sergey Brin economy," and Ben Casnocha reports on the Western frontier of tech entrepreneurship. The American also publishes exclusive web-only content--and articles from the magazine--at www.american.com.

Making a Killing
Making a Killing

In Making a Killing: The Deadly Implications of the Counterfeit Drug Trade, AEI resident fellow Roger Bate analyzes the burgeoning international trade in counterfeit drugs and recommends steps that governments and law enforcement agencies could take to stop it.


On the Issues

On the Issues  
In the most recent installment of On the IssuesNorman J. Ornstein says that Seven years is enough time to create a plan to prevent the kind of chaos and injury that would come with a more successful attack on official Washington.