A Libertarian Looks at Oil Spills

A Libertarian Looks at Oil Spills

Here is an article from the Spring 2004 issue of the journal Independent Review, offering some libertarian perspective on oil spills. I almost never agree with Murray Rothbard or his acolytes. But I do find them interesting to read.

That Anti–Industrial Revolution Lawsuit: Behind the Scenes

Carter Wood (senior communications advisor with the National Association of Manufacturers) writes at Point of Law about speculation that a Leftist judge may have chosen to blow up the Fifth Circuit quorum that was set to hear Comer v. Murphy (For background on the suit, see BRC News, June 1, 2010). And here, from Russell Jackson, is an excellent summary of where things now stand in the suit.

The Credit-Rating Cartel

Warren Buffett, whose Berkshire Hathaway is the largest shareholder of Moody’s, is scheduled to testify today before the Financial Crisis Inquiry Commission about the role that credit rating agencies may have played in the financial crisis. It is not clear whether he, or anyone else, will be asked to testify about the role that government cartelization of the rating agencies may have played in the financial crisis.

There have, however, been rumors that some banks learned how to game the rating agencies’ evaluation systems and provided false data in order to produce higher ratings. That certainly seems like fraud and is an issue that deserves airing, although I have not seen any estimates regarding the magnitude of such gaming.

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