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    Don't Play Pelosi's Head Games

    At first Speaker Nancy Pelosi (D-CA) said she would never support an auto bailout bill that used money originally set aside to help Detroit develop fuel-efficient vehicles. But she relented. Then Pelosi claimed she wouldn’t support a bailout bill unless the Big Three promised to drop their lawsuit against California’s … More

    Fannie and Freddie Finally in Focus

    At the height of the campaign season, House Oversight Committee chair Henry Waxman (D-CA) held a number of hearings on the burgeoning financial meltdown including investigations into the bankruptcy of Lehman Brothers, the bailout of AIG, The Breakdown of Credit Rating Agencies, and The Role of Federal Regulators. The purpose … More

    Government Spending Is Never the Answer

    A Christian Science Monitor article this morning argues that Roosevelt didn’t spend enough to jolt economy into recovery. Only when spending skyrocketed for World War Two did the economy recover (unemployment finally dropped, of course this was because everyone was mobilized either as soldier or to support the war effort … More

    Unusual Frankness from The New York Times

    From the NYT‘s write up on President-elect Barack Obama’s promised public works program: Mr. Obama’s plan, if enacted, would be in part a government-directed industrial policy, with lawmakers and administration officials picking winners and losers among private projects and raining large amounts of taxpayer money on them. Government picking winners … More

    The Big Three’s Plans for Change

    A few weeks ago, CEOs from Detroit’s Big Three flew to Washington in their private planes asking for $25 billion. They were ridiculed for flying private jets and Congress sent them home, demanding they needed a comprehensive plan to even consider loaning this kind of money to the automakers. They … More

    Corporations of the World Unite!

    So the Big Three automakers returned to Washington yesterday, this time with slightly more specific plans on how they plan to spend taxpayer money to fix their faltering businesses. But it turns out that not all three of the automakers are really even asking for cash right now: While GM … More

    Saving Detroit

    June 4, 2008, must seem like light years ago for Detroit. On that Wednesday night, the Detroit Red Wings hoisted Lord Stanley’s Cup in Hockeytown, U.S.A. Since then, it’s been nothing but the doldrums. The Detroit Lions have managed to lose every single football game in the 2008 season and … More

    Cars Will be Made in the U.S.

    The Wall Street Journal ran a great article on those ‘other’ car manufacturers we have in the U.S. The takeaway: These are the 12 “foreign,” or so-called transplant, producers making cars across America’s South and Midwest. Toyota, BMW, Kia and others now make 54% of the cars Americans buy. The … More

    The Bailout Mentality Ends Here

    It’s bad enough that there are already legions of lobbyists lining up in Washington for their slice of the upcoming $700 billion-plus pie. But when our nation’s local government leaders join the bailout parade, you know our nation’s sense of personal responsibility has significantly deteriorated. Earlier this week the U.S. … More

    Oh Yes They Did

    Big labor apologist EJ Dionne Jr. asserts in the Washington Post today: The failure of the Big Three is regularly attributed to the high wages and benefits earned by members of the United Auto Workers union, and it’s true that the Detroit-based auto companies operate under heavy “legacy costs” for … More