The collapse of Lehman in mid September 2008 was a momentous event. Yet whether Lehman really had to fail is an issue that has not received the kind of scrutiny it deserves. The reason for that seems to be the public statement made by then Treasury Secretary Paulson and then Fed Chairman...

Against the background of the 2007-2009 financial crisis which years of conspicuous debt buildup set the stage for and the persistence of debt overhand since then, tax deductibility of debt interest has come under increased scrutiny. The prevailing view is that such deductibility is a subsidy...

The US government faces severe challenges in the midst of this raging pandemic. Overcoming the health crisis is priority number one. But protecting the minimum livelihoods of individuals and ensuring the survival of otherwise viable entities are of equal importance. Despite economic relief...