Posts Tagged ‘bailouts’
Thank goodness – There is a bailout for insurance companies built in to Obamacare
I’ll try to make this somewhat complicated event easy to understand. Insurance companies submit estimates for insurance costs (payouts) in to the federal government. If the payouts exceed 103 percent of the estimate, the taxpayers cut a check to insurance companies for 50 percent of the loss. 108 percent equals an 80 percent bailout.
Read MoreEuropean Union to confiscate savings in Cyprus in return for bailout
The plan put forth by European finance ministers is to outright confiscate 9.9 percent from any person with a Cyprus bank account with more than €100,000 ($129,000 US). Of course, there are not many accounts holders who have that much cash, so ministers went after everyone else too, demanding 6.7 percent from anyone with cash in…
Read MoreThe Dodd Financial Bill: Thursday on the Jim Vicevich Show
Your calls plus … David John from The Heritage Foundation. John is the Senior Research Fellow in Retirement Security and Financial Markets. Listen here tomorrow. David John is one of five experts who “exert more influence” on the Social Security debate than anyone else in Washington – and he is The Heritage Foundation’s lead analyst…
Read MoreVideo explains the financial collapse – moral hazard
The Center for Freedom and Prosperity charges ahead with another economics video to push back basic economic ignorance. The video describes what happened and how Congress, big-bank, and Fannie Mae and Freddie Mac combined forces to create a foreseen financial collapse.
Read MoreFord sales up 33% – GM and Chrysler not so much
Take this for what it is worth. Ford sales were up 33 percent in Dec. 2009 as compared to Dec. 2008. Toyota and Subaru’s sales also increased by a third, and Honda and Nissan sales were up 24 percent and 18 percent respectively. GM and Chrysler sales below the fold, but how is the Ford…
Read MoreObama provides unlimited loss coverage to Fannie Mae and Freddie Mac
A Christmas Eve White House decision that nobody will notice. President Obama and his treasury secretary, Timothy Geithner, have elected to increase loss coverage for the Government Sponsored Enterprises (GSE) of Fannie Mae and Freddie Mac from $200 billion to unlimited for the next three years.
Read MoreIt’s begun … government guarantees a newspaper loan
Even as I read this article, I sat here stunned. But as I calmed myself, I realized, I should not be surprised. Banks, investment houses, automobile companies, and now … newspapers. The state of New Hampshire last week agreed to guarantee 75 percent of a $250,000 loan from an Upper Valley bank to the new…
Read MoreChrysler’s Creditors Cave
Last Friday, the small group of Chrysler’s secured creditors, who had thus far refused to buckle under to the pressure, decided to throw in the towel and withdraw their legal protest to the Obama administration’s plan to resuscitate the failed auto company. In a move more symbolic than meaningful, the group has decided that although…
Read MoreThe Looting of “General” Motors
Jim spoke on Thursday morning about the “deal” being offered to the bondholders of General Motors which, if accepted by them, will presumably keep GM out of bankruptcy. I say presumably because this “restructuring” has all of the earmarks of failure that are found in the Chrysler plan, but without the help of Fiat. However,…
Read MoreGM bondholders get crappy deal – UAW better off
I have not had too much time to review the “deal” floated yesterday concerning the restructure of General Motors, but a friend sent me a link this morning to a Washington Post article providing some of the details. I read part of it, and what caught my eye was that the government, bond holders and…
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