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Tag Archives: Bailout

Clinton’s GM Fiction.

[National Review] The Democrats cling to the ridiculous claim that the bailout of GM and its now-Italian competitor, Chrysler, saved 1.5 million U.S. jobs. This preposterous figure is based on the assumption that if GM and Chrysler had gone into normal bankruptcy proceedings, the entire enterprise of automobile manufacturing in the United States would have […]

Reckless Endangerment

Below is a review by George Will of the book Reckless Endangerment — written by a housing finance expert and by a N.Y. Times columnist, no less. The 1977 Community Reinvestment Act pressured banks to relax lending standards to dispense mortgages more broadly across communities. In 1992, the Federal Reserve Bank of Boston purported to […]

Stimulus money for the dead.

Here’s the Washington Examiner: Perhaps government is more like a zombie than a parasite. Especially given that about $1 billion in taxpayer money goes to 250,000 deceased individuals (according to a review of reports by the Government Accountability Office, inspectors general, and Congress itself). How, might you ask? According to Sen. Tom Coburn’s, R-Okla., office: […]

Obama created the Tea Parties

Earlier this week in a CNBC town hall meeting a woman, self-described as chief financial officer for a veterans organization with — and this is key as it underscores both her economic class and the key disconnect between liberal Democrats and the rest of America — “two children in private school,” told President Obama that […]

Financial reform without Fannie/Freddie isn’t reform at all.

Here’s Duncan Currie: Here’s one thing you won’t find in the 2,300-page financial-overhaul legislation that passed the Senate Thursday afternoon: any serious reform of housing giants Fannie Mae and Freddie Mac, the longtime “government-sponsored enterprises” (GSEs), both of which have been in federal conservatorship since September 2008. Last summer, the Congressional Budget Office (CBO) estimated […]

Frank-Dodd reform: the second time as farce.

It’s said that all history occurs twice, first as tragedy and second as farce. That bears repeating with at least one element of the proposed “financial overhaul,” the Dodd-Frank Wall Street Reform Act. That element, writes Eugene White, is the “Financial Crisis Fund,” a fund in which Sens. Dodd and Frank propose strong banks will […]

Congress empowers the causes of crises:Themselves.

[WSJ] President Obama hailed the financial bill that House-Senate negotiators finally vouchsafed at 5:40 a.m. Friday, and no wonder. The bill represents the triumph of the very regulators and Congressmen who did so much to foment the financial panic, giving them vast new discretion over every corner of American financial markets. Chris Dodd and Barney […]

Imagine when they run your healthcare.

[ABC’s The Note] ABC News’ Rick Klein reports: The chairman of the Obama administration’s Recovery Board is telling lawmakers that he can’t certify jobs data posted at the Recovery.gov Web site — and doesn’t have access to a “master list” of stimulus recipients that have neglected to report data. Super bang-up job there! Imagine how […]

Clunkers: That which is unseen.

Gwen Ottinger of the Chemical Heritage Foundation’s Center for Contemporary History and Policy in Philadelphia — and boy is that a mouthful — appears to be one of those rare environmentally conscience persons who also happen to have common sense. “Keep your clunker,” says Gwen, it’s better for the economy and the environment: First, even […]

Welcome to the party, pal.

Talk about your self-evident headlines, here’s a doozy from the Washington Post: For U.S. Autoworkers, Future Hinges on Adaptability For U.S. autoworkers? Try for everyone. so we are supposed to feel bad for them because they might have to retrain for a new job or technology? Sudden the Cogressionally protected union worker has to deal […]