Should the federal government have broad authority to seize private financial institutions on the verge of collapse to keep them from harming the economy? President Obama and his treasury secretary, Timothy Geithner, are arguing just that – saying that such power would have eased problems associated with recent bailouts. “(It) …
As more details emerge as to bonuses paid by bail-out insurance giant AIG, the nation’s outrage is growing. According to figures released by New York Attorney General Andrew Cuomo, no less than 73 employees received bonuses of $1 million or more. Seven received more than $4 million. One employee received …
The Wall Street Journal is reporting this afternoon that the Treasury Department is mulling the expansion of its bank equity purchase program to cover insurance firms. And other firms in other industries, including non-financial companies, are also asking be included. It should just say no to these ill-considered ideas. The …
Nothing gathers a crowd in Washington like the sight of money being handed out. Thus, in the wake of last weekend’s federal takeover of Freddie Mac and Fannie Mae, lobbyists for the automobile industry could be found stalking the halls of Congress, asking for help from the government too. Specifically, …
Since the Federal Communications Commission’s ‘net neutrality’ order last month there have been an avalanche of lawsuits including four last week alone.Responding to the suits, Ben Scott of Free Press, the energizer rabbit of pro-regulation media groups, said: The Internet is too important to let Comcast tie it up in …
This morning’s Drudge Report features the stories everyone is talking about today, with reports on U.S. swimmer Michael Phelps winning another couple of gold medals, the latest on the Russia-Georgia war, and — of course — FCC commissioner Robert McDowell on threat of the Fairness Doctrine and net neutrality regulation. …
