Daniel Gross

The $2.3 Trillion Garage Sale

Having waged a battle against financial mayhem for the last two years, the Federal Reserve is tentatively declaring victory. As it guaranteed debt and swapped cash for all sorts of assets, the Fed's balance sheet grew—from about $850 billion in assets before the crisis to about $2.3 trillion this spring.

A Cop on the Beat

As part of financial-regulation reform, congress is pushing for derivatives—the complex financial instruments behind many of the recent debacles—to be traded on centralized exchanges, where data and activity could more readily be seen by investors.

Prof. Gingrich's Faulty History Lesson

One of the strangest, and yet most predictable, comments about the passage of health care came from former House speaker Newt Gingrich. Gingrich told The Washington Post that Obama, by pushing for health care, "will have destroyed their party much as Lyndon Johnson shattered the Democratic Party for 40 years" by pushing through Great Society programs.

Fiscal Follies

Some people have ideas about how to change things in Washington. And some people like to give the appearance of having ideas about how to change things in Washington.