Holman Jenkins on All Topics
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“Mr. Obama's health-care thinking always lacked the bite of real 'reform.' He never claimed he was a wonk. He claimed he was a political mobilizer. He meant it.”
“For all the grass-roots pose, net neut has always been a weapon in the hands of status-quo companies trying to protect themselves against technological change.”
“The time to worry about moral hazard is now, between crises, when we have an opportunity to change the incentives of the system to make future crises less likely.”
“What follows is a leaked first draft of President Obama's speech on health care tonight, complete with instructions for Democrats in the audience.”
“Most of the U.S. firms under partial government control ... got bigger, not smaller, and their funding costs reflect more than ever creditor expectations that the government stands behind them.”
“UBS's sin was trying to market Swiss secrecy cheaply and widely -- too cheaply and widely for others to tolerate.”
“One of the pleasures of government is the opportunity occasionally to do justice. Team Obama has two such opportunities before it.”
“The Obama administration's preoccupation with Detroit can be explained in three letters: UAW.”
“Ford is the only U.S. auto company not to land in bankruptcy and need rescue with taxpayer money. It’s also the only company in which control remains with a tight-knit founding family. Coincidence? No.”
“The message from Washington to shareholders ... 'We're with you. We want the best for you. We're very sorry about Bear Stearns, and we won't do it again.'”
“Microsoft and Google ... have the power to damage each other, and are better off if they don’t.”
“Business is being reshaped around the world.”
“Welcome to government for the benefit of government officials and their hangers-on.”
“There is no practical solution to "too big to fail," and no alternative to the Fed's ability to print money to ease potentially destabilizing financial panics.”
“The Obama stress tests have served a confidence-building purpose -- confidence in Washington, not the banks.”
