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I’m fully on board with blaming Democrat lawmakers in Washington for contributing to the mortgage crisis that started with Freddie Mac and Fannie Mae. Republicans introduced legislation that would more closely regulate the government sponsored entities (GSEs). Democrats – including Barney Frank (D-Mass.) – blocked that legislation, all but calling those asking for the changes…
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.
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…
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.
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…
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…
Democrats in Congress usually have a “thing” for privacy rights. Listening in on international phone-calls were one end of the conversation is a known or suspected terrorist? That’s bad. However, not all such intrusions are equal. McCarthy-esque intrusion into the lives of folks working on Wall Street? Wielding the tax code as a weapon against…
One day after saying he had no idea how the “Bonus Loophole” ended up in the Stimulus bill, CNN uncovers that in fact Chris Dodd’s staff wrote the loophole in an amendment to the Stimulus Bill that allowed the AIG bonuses to be paid. It’s more than just an embarrassing moment for Dodd, it’s another…
Art Laffer pretty much summed up the Government’s bailout of everyone from AIG to GM and Chrysler … they shouldn’t be in the business in the first place. It’s very funny.