Holman W. Jenkins Jr. has an excellent Op Ed piece in today’s Wall Street Journal. Mr. Jenkins ask the one question that no one Congress dares ask… Why is it Ford and GM can build viable auto businesses all over the world but not in North America? A Car Wreck Made in Washington Can Democrats [...]
Creeping Socialism: Bush Defends Citigroup Bailout
November 24, 2008 By Leave a Comment
I’m at a loss for words here… From the AP via Michelle Malkin: President Bush argued Monday that the government’s dramatic rescue of Citigroup was necessary to “safeguard the financial system” and help the economy recover, and he said there could be more such moves if other institutions need help. Bush said he approved the [...]
Here We Go Again: Feds Agree to Citibank Bailout
November 24, 2008 By 1 Comment
From the Wall Street Journal: The federal government agreed Sunday to take unprecedented steps to stabilize Citigroup by moving to guarantee close to $300 billion in troubled assets weighing on the bank’s books. Treasury has agreed to inject an additional $20 billion in capital into Citigroup under terms of the deal hashed out between the [...]
Mitt Romney: Let Detroit Go Bankrupt
November 19, 2008 By 1 Comment
Former Massachusetts Governor Mitt Romney has a must read Op Ed on troubles facing Chrysler, Ford and GM in today’s New York Times. Let Detroit Go Bankrupt By Mitt Romney, New York Times Op-Ed, Wednesday, November 18, 2008 Boston IF General Motors, Ford and Chrysler get the bailout that their chief executives asked for yesterday, [...]
CNSNews.com: Union Workers at Big Three Automakers Average $73 an Hour
November 18, 2008 By Leave a Comment
The headline may be a little misleading but the article is worth reading: Union Workers at Big Three Automakers Average $73 an Hour By Pete Winn, Senior Writer/Editor, CNSNews.com, Tuesday, November 18, 2008 Economists in Michigan, the long-time home of the auto industry, say they don’t support the proposed multi-billion dollar bailout of Big Three [...]
Wall Street Journal: Why Bankruptcy Is the Best Option for GM
November 17, 2008 By Leave a Comment
Today’s Wall Street Journal has a must read Op Ed column by Michael Levine. Levine examines the problems faced by GM and explains why seeking chapter 11 bankruptcy protection may GM’s best chance for survival. Why Bankruptcy Is the Best Option for GM Chapter 11 would better preserve the valuable parts of the company than [...]
Wall Street Journal: Just Say No to Detroit
November 15, 2008 By Leave a Comment
There’s an interesting essay by New York University finance professor David Yermack in today’s Wall Street Journal. Just Say No to Detroit Given the abysmal performance by Detroit’s Big Three, it would be better to send each employee a check than to waste it on a bailout, says David Yermack. Before Michael Moore became famous [...]
Crap Sandwich Redux: Senate to Vote on Bailout Bill
October 1, 2008 By 2 Comments
Michelle Malkin and Ed Morrissey have the details on this 451 page monstrosity… That’s right 451 pages! The original Paulson Plan was roughly two pages, the house bill was just over 100 and the senate bill is 451 pages. Some of the additions in the Senate bill include: New Tax earmarks in Bailout bill Film [...]
Flamethrower: Thaddeus McCotter
October 1, 2008 By Leave a Comment
It’s pure unadulterated demagoguery but it’s still a hell of speech! With all due respect Congressman Wall Street didn’t cause this problem… They played their part but it was Congress and government regulators who, in the name of affordable housing, compelled banks to write these risky sub-prime loans. It was Congress who created Fannie Mae [...]
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