The failure of the GM bailout.
The Treasury Department announced to little fanfare that it will begin selling off the 26.5 percent stake in GM that was purchased with your money. You’re going to take a bath.
Tagged: Bailouts
Bailouts
Government Motors: No way to run a railroad.
How do you feel about Barack Obama effectively being the chief executive officer of General Motors and voting 60 percent of the stock? I hate it. I wonder what Milton Friedman would say. Milton Friedman was a celebrated economist whose views on taxation, monetary policy and business regulation informed the likes of Ronald Reagan and Margaret Thatcher. Mr. Friedman was in Asia and was taken to a job site where workers were digging a canal....
The Administration to lenders: Go along or else.
You have probably never heard of Thomas Lauria. I never had until yesterday. But if he is to be believed (and I believe him), then our government has taken a huge step toward gangster-style thuggery and we should all, Democrats and Republicans, be very afraid. Thomas Lauria is a lawyer who represents a number of investment banks that hold the senior commercial paper of Chrysler Corporation. Senior commercial paper is what you and I would...
Let my people fail.
“…in the good Providence of God, apparent failure often proves a blessing.” — Robert E. Lee It is often said that we in America take our freedoms for granted. Our founders assured us of freedom to worship as we see fit, freedom to speak our minds, freedom to pursue our dreams, freedom to own the fruits of our labor and freedom to criticize and, if necessary, change our government. If we take these freedoms for...
Sometimes nothing is the right thing to do.
The U.S. economy has entered a stall. Some would say it has entered a spin. But just like a Cessna 152, the U.S. economy is designed to fly. The best thing our policymakers can do is let it.
The government needs to get out, not bailout.
Click here to listen to the broadcast of You Tell Me on Newstalk 600 KTBB, Friday, December 19, 2008. With all of the news of the past weeks if I could I would wave a wand and the federal government would take a giant step backward. I mean a giant step. The two biggest stories of 2008 are the home mortgage meltdown and the auto industry collapse. The federal government is neck deep in both....
Memo from Senate to UAW: The party’s over.
The so-called auto bailout bill, a $14 billion bridge loan intended to give automakers sufficient cash to continue operating in the first quarter of 2009, failed last night in the Senate. As far as getting government cash into the hands of the automakers this year, it’s over. Not gonna happen. That is a very big problem for GM and Chrysler. Less so for Ford except for the fact that if GM in particular fails, it...