Nathan FOIA Tankus

NEW PIECE: I'm very excited to bring the first part of a three part series digging deeper into my "Conventional Wisdom Processor" coinage. This was inspired by Paul Krugman's generous discussion of the phrase last month.

@HalSinger Good work! I have long thought that the way people don't even pretend to talk about market definition when discussing this to be silly. Also telling that real estate developer market concentration doesn't get measured.

Remember when opponents of Trump’s proposal to cap investor ownership of homes claimed that investors have too small of a footprint to make a difference on rents? Well, the trick they used was to measure investor market share at the city and zip code level. For Atlanta, we went back and measured the share of investor holdings at the *neighborhood* level. In Mechanicsville, investors hold roughly 14 percent of all homes and 24 percent of homes that are not owner-occupied. These results are consistent with the claim that investors wield market power in certain areas. It just depends on where you look!

@tphillips @TheStalwart nor does it mean that the Board's status is the same as that of other agencies in the executive branch. Congress itself, by specific provisions of the Federal Reserve Act, has given the Board more freedom from control by the President and by the Congress than it has given most"

@tphillips @TheStalwart pages 11 to 31 specifically. "In the writer's opinion, the Board obviously is an agency in the executive branch of the Government. As has been noted, this does not mean that the Board is subject to direction by the President"

The Court's (seemingly arbitrary) exemption of the Fed from the "unitary executive" drives every intelligent person crazy. On the other hand, has anyone made the argument that unlike other "independent agencies", the Fed is conducting policy that sits in the Legislative Branch?

There’s probably only one event in the world where I could run into @MattZeitlin, @FreightAlley, @davidshor, and @NathanTankus — Joe and Tracy have really created something special.

happy birthday

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I don't post here much but a) its my birthday tomorrow and b) I wrote up the amazing fact that the @federalreserve has created an entire page devoted just to my FOIA requests. So far they've released 52 amazing documents through it. Also I have a birthday sale going.

"...the conclusion that follows is that the impoundment crisis is here to stay" crisesnotes.com/the-longest-go…

"[William McChesney Martin's] segregationist commitments thus define what the ideology of Federal Reserve independence has meant in practice." - @NathanTankus. Periodic reminder that nobody is doing it like Nathan. crisesnotes.com/bombshell-1951…

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NEW PIECE: I get into the core legal issues- and accounting gimmicks- at the heart of the Government Shutdown and use the framework I build up to analyze the White House's strange statements about using Tariff money to backstop WIC. I then tie this all together with impoundment