“Congress has been dropping in relative power along a descending curve of 60 years’ duration, with the rate of fall markedly increased since 1933. … The fall of the American Congress seems to be correlated with a more general historical transformation toward political and social forms within which the representative assembly — the major political organism of post-Renaissance Western civilization ...

The Trump administration is looking to ease financial-strength requirements for big banks, on the grounds that they’ve already done enough to avert another crisis. But how much safer have they really become? In recent posts, I’ve offered some less-than-encouraging evidence. Levels of loss-absorbing equity, although higher than before the crisis, still fall far short of what’s needed. And despite the ...

In a sharp and welcome rebuke to President Donald Trump’s approach to foreign policy, a Senate committee voted last week in favor of more diplomacy. Support was unanimous. The Senate Appropriations Committee approved $51.2 billion for the State Department, the US Agency for International Development and other overseas assistance — more than a third greater than the $37.6 billion the ...