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  • AIG: Did Geithner Give Away the Farm?

    It’s official: U.S. taxpayers did not get a good deal when they bailed out AIG last year. That was the conclusion of a report released yesterday by Neil Barofsky, the federal government’s special inspector general for TARP. The conclusion is no surprise: no one holds up the $170 billion bailout … More

    Who’s Watching Fannie and Freddie? Oversight Agency Fires Its IG

    Don’t look now, but there’s no independent Inspector General at the Federal Housing Finance Agency — which is responsible for overseeing federally-run finance giants Fannie Mae and Freddie Mac. As reported in the Huffington Post of all places, the former Inspector General, Ed Kelley was relieved of his duties in … More

    Exit Strategy or Entrance Strategy? New TARP Program On the Way

    One year and a week after Congress enacted legislation creating the $700 billion “Troubled Asset Relief Program,” the Treasury Department next week is expected to launch its first initiative to buy, well, troubled assets. Odd as it may be, in the year since its creation TARP has been used for … More

    FTC to Regulate Blogger Claims (I Was Not Paid to Say This)

    Should the federal government regulate what blogger’s blog? Yes, said the Federal Trade Commission yesterday — at least when it comes to product endorsements. At issue were the FTC’s guidelines concerning the use of endorsements in advertising. These guidelines, among other things, require paid endorsers of products to disclose their … More

    The Chicken Littles of Broadband

    Is the Internet in clear and present danger? Yes, say proponents of neutrality regulation of the Internet. In a speech last month calling for FCC neutrality regulation, Chairman Julius Genachowski stopped short of quoting Oliver Wendell Holmes, but did all he could to paint a dire picture of the Internet’s … More

    Feds Target Yard Sales

    Thinking of having a fall yard sale to clean out some of the clutter from your house? Be careful, or it could get you in trouble with the Feds, and cost you up to $15 million in fines. Its no joke: the Consumer Product Safety Commission has launched a new … More

    Will (and Can) the FCC Regulate the Internet?

    Declaring access to the Internet to be like “running water or the light bulb,” FCC chairman Julius Genachowski declared today that it should be regulated. Specifically, he announced that the Commission will be voting next month on a proposal to impose so-called “net neutrality” regulation on Internet service providers such … More

    FCC “Speech Czar”? No, But That’s Not the Problem

    Does the Federal Communications Commission have a “speech czar”? That was the question before Julius Genachowski yesterday, as he testified for the first time before Congress as FCC chairman. At issue was the appointment of ex-journalist Mark Lloyd to be the agency’s “chief diversity officer,” a position quickly dubbed “the … More

    Auto Bailout Funds Won’t Be Repaid. And That’s Not the Worst News

    Remember the auto bailout? It’s not in the front pages anymore, but last week the Congressional Oversight Panel — a body created by statute to oversee TARP spending — issued a comprehensive and critical report on Washington’s foray into Detroit. The headline news, reported in most major media: the money … More

    Good Czar, Bad Czar: Cass Sunstein and the Future of OIRA

    It’s perhaps the most important job no one has ever heard of. Yesterday, Harvard professor Cass Sunstein was confirmed by the Senate as the administrator of the White House Office of Information and Regulatory Affairs, otherwise known as the nation’s “regulatory czar.” Nowadays, the mere mention of a czar tends … More