Who cooked up this absurd advertising campaign crowing about General Motor’s lies that it paid back its taxpayer-funded loans “in full and ahead of schedule”? When I first saw the GM Ed Whitacre ad, I instantly knew this had to be some kind of trick. (GM Repaid Government Loan Ahead of [...]
Do Call it a Bailout
April 30, 2010 By 7 Comments
Chris Dodd and the Democrats’ new financial reform bill authorizes bailouts in perpetuity.
The Bernanke Nomination – WSJ.com
January 24, 2010 By 1 Comment
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 [...]
Dead-End Diplomacy
January 19, 2010 By 1 Comment
The Obama administration allows China to block sanctions on Iran.
Geithner’s New York Fed Pushed AIG To Keep Sweetheart Deals Secret – Huffington Post
January 7, 2010 By 1 Comment
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 [...]
