Our financial system and economy are in a mess thanks largely to failed government policies and a dysfunctional regulatory system.  Senseless Panic offers a common sense path to recovery.

“We cannot solve problems with the same thinking we used when we created them.”

— Albert Einstein

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in leading business publications
Don’t Forget the 1980’s by Alex J. Pollock

It should be a deeply sobering thought for Americans that the U.S. housing finance sector has collapsed twice in the last three decades. Of course, we know that there was the painful shriveling of the huge U.S. housing and mortgage bubble of the 2000s, but only twenty years before there was the mass failure of […]

Posted: Feb 27, 2015
About that $191B Profit from the GSEs By Erika Morphy published in the GlobeSt.com, February 18, 2015

WASHINGTON, DC—Last week when the White House released its budget for fiscal year 2016, it included one eyebrow-raising line item: it assumed that Fannie Mae and Freddie Mac could return $191.2 billion in profits to the US Treasury over the next decade if they continue operating under federal conservatorship. The item gave the commercial real […]

Posted: Feb 18, 2015
After the Housing Crisis, a Cash Flood and Silence By Gretchen Morgenson published in the New York Times, February 17, 2015

On Aug. 17, 2012, the federal government began expropriating all the earnings of Fannie Mae and Freddie Mac, the mortgage finance giants that succumbed to the 2008 crisis. Now the government is taking extraordinary measures to keep secret the deliberations surrounding that action. What exactly is it trying to hide? That is the question being […]

Posted: Feb 17, 2015
REGULATION OF SHADOW BANKING TAKES A DARK TURN A ‘chain’ of routine securities transactions, the Fed suggests, can transform a non-systemic firm into a systemic firm By Peter J. Wallison

Feb. 9, 2015 Recent statements by senior Federal Reserve officials show that the agency is stepping up efforts to investigate and ultimately regulate what they call the “shadow-banking system.” As the regulators define that term, it is nothing less than capital and securities markets—the industries principally responsible for the growth of the U.S. economy over […]

Posted: Feb 12, 2015
THE BIG LIE: 5.6% UNEMPLOYMENT By Jim Clifton, CEO of Gallup

Here’s something that many Americans – including some of the smartest and most educated among us – don’t know: The official unemployment rate, as reported by the U.S. Department of Labor, is extremely misleading. Right now, we’re hearing much celebrating from the media, the White House and Wall Street about how unemployment is “down” to […]

Posted: Feb 6, 2015
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articles by William Isaac
Shelby’s Bill Is the Right Way Forward on Financial Reform by William M. Isaac published by American Banker on May 19, 2015

Community and regional banks across the United States are badly in need of regulatory relief. A bill proposed by Sen. Richard Shelby is poised to give it to them—but it is in need of one important change. The Senate Banking Committee is scheduled to take up Sen. Shelby’s Financial Regulatory Improvement Act of 2015 this […]

Posted: May 21, 2015
Let Fannie and Freddie Breathe, By William M. Isaac, Published by FTI Journal, May 11, 2015

The Inspector General for the Federal Housing Finance Agency (“FHFA”) recently reported that, due to a lack of capital reserves, Fannie Mae and Freddie Mac might need more government bailouts if housing markets decline. This problem is the result of a 2012 decision by the U.S. Department of the Treasury to sweep Fannie’s and Freddie’s profits into the federal […]

Posted: May 11, 2015
Choking Off Native American Economic Development, By William M. Isaac, Published by Law360, New York, April 10, 2015

I was intrigued when I first heard of a government program called Operation Choke Point and the concept behind it. According to the federal government, the operation was intended to keep illegal or fraudulent entities out of our banking system —– an important mission that could help protect consumers and businesses alike. Unfortunately, multiple congressional […]

Posted: Apr 16, 2015
How the Fannie and Freddie Conservatorship Has Undermined the Resolution Process By William Isaac and Senator Bob Kerrey

Preface Seven years after the crisis that rocked the global financial system, we are still rebuilding and redesigning its structure and rules – and probably will be for years to come. As policymakers engage in this process, laws enacted to address the crisis must be faithfully executed or formally amended. Otherwise, the government would introduce […]

Posted: Apr 6, 2015
FANNIE AND FREDDIE MAY NEED MORE BAILOUTS By William M. Isaac Published by Wall Street Journal, APRIL 1, 2015

The Inspector General for the Federal Housing Finance Agency (FHFA) recently reported that Fannie Mae and Freddie Mac might need more government bailouts if housing markets decline. The problem: lack of capital reserves to serve as a buffer against future losses. The FHFA’s warning wasn’t the first. Last month on an earnings call, Fannie Mae […]

Posted: Apr 2, 2015
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