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Stossel On Bailouts

By Jim Vicevich / March 17, 2009 /

Hot Air blogged on this yesterday but I feel like we did not give it the attention it was due … so here’s the link to the Hot Air post and we will be featuring it in the first half hour of the show. For those of you not familiar with Joh Stossel he is…

Reason 67: Government should not bail out corporations

By Steve McGough / February 2, 2009 /

When you are a large corporation that is having difficulty, one of the things you must considered is marketing. There is a time you need to spend money to make money. You could cut your entire marketing budget, cancel all of the advertising, lay off the graphics staff that make the pretty brochures, and hope.…

How does a 4.5% mortgage sound to you?

By Steve McGough / December 4, 2008 / Comments Off on How does a 4.5% mortgage sound to you?

As I walked through the living room just now, I heard talk of a 4.5 percent fixed rate mortgage on Fox News. Financial industry lobbyists are knocking on Hank Paulson’s door at the Treasury Department with a plan in hand to lower interest rates to help “stabilize” the housing market. Will everyone be able to…

Free products and services equal unlimited demand

By Steve McGough / October 17, 2008 / Comments Off on Free products and services equal unlimited demand

I’ve been meaning to write a post concerning “free” goods and services. What happens when the government – or any other group – comes in and offers something for a very low cost or free? I’ve found three events that will show us what happens when you offer stuff for free or at super-low cost,…

If you think $700 billion is nuts, wait for the Social Security rescue plan

By Steve McGough / October 15, 2008 /

I’ve been thinking about the bailout again. I’ve been busy, it makes me mad, so I write a little about it and leave it at that. Now I’m thinking about the next government emergency bailout – Social Security. It will come up on us quickly. It will be a crisis. We may only have days…

Walter Williams writes – Lessons from the bailout

By Steve McGough / October 8, 2008 /

Williams has another good column out this week, and it quickly sums up – for those of you who missed it – how this economic crisis started back in 1977 with the Community Reinvestment Act. Walter’s point gets right to the root of the problem. Even though McCain and Obama want to lay the blame…

Your local bank is in fine shape, thank you

By Steve McGough / October 6, 2008 /

Earlier today, Chris Dodd – senator from Connecticut and Senate Banking Committee chairman – stopped by the Sheraton Hotel at Bradley Airport to meet with Connecticut business and labor leaders. He hoped the market would react positively to the federal government taking over a good chunk of the U.S. housing market. As of noon ET,…

Bailout legislation impossible to read

By Steve McGough / October 1, 2008 / Comments Off on Bailout legislation impossible to read

I don’t have a law degree. I don’t have 12 hours to read the full text of the bailout bill that the Senate is debating right now. The average person should be able to read this crap – or at least use the Ctrl+f key to do a keyword search in the damn thing.

Populism is alive and well – the economy and the Constitution

By Steve McGough / September 30, 2008 / Comments Off on Populism is alive and well – the economy and the Constitution

Let’s discuss the conservative viewpoint of the populist nightmare. Listen to any stump speech by your local, state and national politicians who are running for office and count the number of times he or she makes a promise to deliver something of value to you. What should be the role of the federal government –…

Obama provides unlimited loss coverage to Fannie Mae and Freddie Mac

By Steve McGough / December 26, 2009 /

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.