An article in the New York Times asked that since the Federal Reserve “failed to recognize the last bubble,… why should Congress, or anyone else, have faith that future Fed officials will recognize the next [one]?” 

BernankeRegulatory failures and not low interest rates were responsible for the housing bubble, implosion and current recession, Federal Reserve Chairman Ben Bernanke asserted on Sunday.

Last Monday, the Federal Reserve unveiled its new “term deposit facility” as another tool to fight inflation.

Long-renowned economist Paul Samuelson died on December 13 at his home in Belmont, Massachusetts, at the age of 94. In addition to writing Economics in 1948 — which became the best selling economics textbook for several decades, having been translated into forty-one languages and selling over four million copies — Samuelson also won the Nobel Memorial Prize in Economic Sciences in 1970.

Speaker of the House Nancy Pelosi (D-Calif.) is the Will Rogers of big government: She never met a tax she didn’t like. Her latest pet project is the neither nimbly nor accurately named “Let Wall Street Pay for the Restoration of Main Street Act of 2009.” The bill, introduced by Peter DeFazio (D-Ore.), was referred to various House committees Friday and benefits from the cosponsorship of over 25 Congressmen.