Can you say stagflation? The Jimmy Carter years may be repeating themselves as the Obama economy continues to flounder.
Under growing pressure from conservatives and “tea party” activists, Sen. John McCain of Arizona is having to defend his record of supporting the government’s massive bailout of the financial system. In response to criticism from opponents seeking to defeat him in the Aug. 24 Republican primary, the four-term senator says he was misled by then-Treasury [...]
Ron Paul’s straw poll “victory” at last week’s Conservative Political Action Conference was surprising. It leads one to believe conservatives retain the ability to snap defeat from the jaws of victory this coming Fall. Ann Coulter reflects the opinion of many conservatives when she claims agreement with Ron Paul on almost [...]
The White House said yesterday it has damped down a political revolt against Ben Bernanke and now has the votes to secure the Federal Reserve Chairman’s second four-year term. Whether or not Mr. Bernanke is confirmed, the lesson we draw is that overly political central bankers will eventually be undone by politics. There’s no doubt [...]
An arm of the Federal Reserve, then led by now-Treasury Secretary Timothy Geithner, told bailed-out insurance giant AIG to withhold key details from the public about overpayments that put billions of extra tax dollars in the coffers of major Wall Street firms, most notably Goldman Sachs. The sordid tale unfolds in a series of e-mails [...]
Report: Bernanke, Paulson misled on bailouts
Monday, October 5, 2009
Federal Reserve Chairman Ben S. Bernanke and former Treasury Secretary Henry M. Paulson Jr. misled the public about the financial weakness of Bank of America and other early recipients of the government’s $700 billion Wall Street bailout, creating “unrealistic expectations” about the companies and damaging the [...]