With all the buzz about the Feds corruption probe of Gov. Illinois Rod Blagojevich it’s easy for things like this Wall Street Journal column to be missed. Whitewashing Fannie Mae Congress begins its self-absolution campaign. Henry Waxman’s House Committee on Oversight and Government Reform met Tuesday to examine “The Role of Fannie Mae and Freddie [...]
An Open Letter From Steven Horwitz
October 13, 2008 By Leave a Comment
Economist Steven Horwitz published this open letter on September 28, 2008, if you haven’t read it you should. My friends, In the last week or two, I have heard frequently from you that the current financial mess has been caused by the failures of free markets and deregulation. I have heard from you that the [...]
Credit Crisis: Chris Shays Comes Out Swinging At Congress
October 7, 2008 By Leave a Comment
Democrats in Congress may not want to talk about their roll in causing the subprime meltdown by refusing to regulate Fannie Mae and Freddie Mac but Rep. Christopher Shays (R-Conn) does: H/T: Hot Air.
Bush: “We don’t want to rush”
October 6, 2008 By Leave a Comment
Say what??? Oh the irony… As global markets plunged, President Bush on Monday said “it’s going to take awhile” for the government’s $700 billion financial rescue plan to bolster the troubled U.S. economy. Bush said the purpose of the package was to unlock the nation’s credit freeze “to get money moving again.” But, he added: [...]
Bailout Deal Reached?
September 28, 2008 By 1 Comment
The Wall Street Journal is reporting that lawmakers reached a tentative bailout deal overnight: Top U.S. policy makers emerged from hours of tense negotiations with a clear message just after midnight Sunday morning: A deal to bailout U.S. financial markets has been agreed on and all that remains to be done is to commit the [...]
Newsflash: Wall Street Journal Reporting Agreement in Principle Is Reached on $700 Billion Bailout
September 25, 2008 By Leave a Comment
From the Wall Street Journal: Congress reached an agreement in principle on a $700 billion package to bail out the financial industry, leaders from both parties said Thursday. They plan to present the deal to the White House later Thursday, hoping for a vote within days. Lawmakers said there were few hurdles remaining. “There really [...]
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