Rule of law? Who needs it! That seemed to be the message of the Obama Administration as it seeks to maneuver around restrictions imposed by Congress on bailout recipients. As the Washington Post describes, the Administration is laundering money to bailout recipients by “set[ing] up special entities that act as …
All bankruptcies are not created equal. For months, Heritage and other conservatives have counseled that the proper course for an ailing automaker is the same medicine as for any other sick company: the bankruptcy process. All along, industry shills and union activists have pooh-poohed that idea, claiming that bankruptcy filings …
The decision in the blockbuster case of Wyeth v. Levine is just out, and Lyle Dennison’s early commentary is here. To summarize: In an opinion by Stevens, joined by Kennedy, Souter, Ginsburg, and Breyer, the Court held that FDA approval of a drug’s labeling does not preempt state-law failure-to-warn claims. …
(Commentary by Heritage’s Brian Walsh) The Supreme Court yesterday decided not to consider an important case, Sorich v. U.S., on the meaning and scope of an exceedingly broad federal statute that has been used to prosecute a breathtaking range of conduct. Associate Justice Antonin Scalia again broke with the strict …
An hour later than promised, General Motors submitted a restructuring plan to the Treasury calling for an additional $17 billion in government funds, on top of the $13.4 billion promised by the Bush Administration less than 2 months ago. Today’s request, if granted, would be $12.4 billion more than the …
We don’t have the plan, yet, but we already know the bottom line: $5 billion. That’s how much money private-equity-owned Chrysler LLC wants from federal taxpayers to finance its “turnaround plan” submitted to the Treasury at 5 pm today. Chrysler’s previous turnaround plan, released less than 2 months ago, indicated …
A small provision slipped into the stimulus (PDF) by Sen. Chris Dodd is making big waves in the banking and finance industries. The last-minute addition to the bill, which pretty much no one noticed until after the legislation passed both chambers, places sharp limits on bonuses available to top executives …
