Wonder Land: Republican presidential hopefuls Ron DeSantis, Mike Pence, Nikki Haley, Tim Scott, Chris Christie, Vivek Ramaswamy and maybe even Donald Trump are united on spending. All offer a much safer future than the alternative. Images: Reuters/Zuma Press Composite: Mark KellyIn response to this year’s failures of midsize banks, the Biden administration—through the Federal Reserve, the Federal Deposit Insurance Corp. and the Comptroller of the Currency—is trying to mandate 20% higher capital standards for the nation’s largest banks. The Obama administration did the same after the subprime mortgage crisis in 2010. When the totality of macroeconomic conditions are weighed, the dramatically higher capital requirements will threaten financial stability.

---

Persons: Ron DeSantis, Mike Pence, Nikki Haley, Tim Scott, Chris Christie, Vivek Ramaswamy, Donald Trump, Mark Kelly, Biden, —, Obama, It’s Organizations: Republican, Zuma, Federal Reserve, Federal Deposit Insurance Corp