John B. Taylor: “I think higher capital requirements are a way to get at this problem, and it may be the easiest way.”

Fiscal policy is certainly a mess right now, and it has to be fixed, or we will be like Europe

This discussion about cost-benefit analysis is amazing to me. It is sort of the basic thing you teach students about government policy.

The Congress, through the Banking Committee and the Financial Services Committee, is in a good position--in fact, it is a unique position in our Government--to oversee monetary policy in a strategic sense, not in a tactical sense.

Simply stated, systems monitored by its own department members, no matter the claims of independent watchdog status, do not and will not work.