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  • Monthly Archives: May 2009

    Financial Prison Break: Banks Flee TARP

    In the weeks leading up to last week’s release of “stress test” results, there was quite a bit of talk about more bailout money for troubled banks — how much they would need, and how much Washington would force them to take. (Yes, force.) How things have changed. Not only … More

    The Zombie Contagion Spreads

    The New York Times reports: Hartmarx, known for its Hart Schaffner & Marx and Hickey Freeman suits, and for making President Obama’s inauguration tuxedo and topcoat, has long been America’s leading clothier for men. Now its workers want to make the company, which is in bankruptcy, a leader in a … More

    Tax Deferral 101

    President Obama is proposing raising more than $100 billion in new taxes from American businesses by limiting their ability to defer tax on profits earned abroad.  The President believes that by penalizing them, U.S. companies will have more incentive to keep jobs in the U.S. rather than shipping them overseas.  Of course, … More

    Obama's Trillion Dollar Deficits in Pictures

    The Washington Post first published this graphic back on March 21st. Since that time the Obama administration’s projected deficit numbers have only become more far-fetched. IHS Global Insight chief U.S. financial economist Brian Bethune told McClatchy: “If they keep playing this game, they’re going to have real credibility problems.” And … More

    Is this for REAL?

    Draft legislation is circulating on the Hill to repeal the REAL ID Act. Passed in 2005, with bipartisan support, the REAL ID Act requires states to assure that any identity cards used for a federal purpose (like passing through a Transportation Security Administration security checkpoint before boarding a plane) be … More

    Morning Bell: Obama Trek: The Search for More Money

    Yesterday, in what President Barack Obama described as a “watershed event”, the health care industry promised to cut $2 trillion in costs over 10 years by implementing such measures as the use of health information technology, care coordination, disease management, and “evidence based” medicine. If you feel as though you’ve … More

    Cap and Trade Equals Reduced Trade (Part 6 in a 10-Part Series)

    The economic costs associated with a cap and trade policy are real. Republicans and Democrats alike realize this and have urged caution that a bill must protect American consumers and businesses. One idea floating around to protect American business and manufacturers is a protectionist carbon tariff. Secretary of Energy Steven … More

    Everything’s Smaller? in Texas

    Although not necessarily what you think of when it comes to big oil, suppliers to extract and produce oil come in all sizes  – including family run businesses. Take William Whitefield, for instance, who runs “a family-owned company that now serves a host of national and international oil field, pipeline … More

    Koh’s Goal for the Legal Trade in Arms: Ban It

    Harold Koh, the nominee for Legal Adviser to the State Department, supports “the global regulation of small arms” and a “global gun control regime.” And he believes it is “needlessly provocative” for any U.S. representative to refer to the right to bear arms when speaking to a foreign audience: the … More

    Cleaner Chinese Coal? Not Really.

    The front page of the New York Times today has an article on China building cleaner coal-fired plants. The title and the article are fairly accurate but any conclusions should be carefully drawn. In particular, China is not taking effective steps to cut emissions of greenhouse gases. In raw terms, … More