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    Do You Trust the Government to Take Your Money and Give it All Back to You? (Part 4 in a 10-Part Series)

    The reason cap-and-trade and carbon tax have been used interchangeably in the global warming debate is because they are essentially the same thing: a massive tax on energy. Although a more direct approach would be to tax carbon dioxide, it does not make it any more acceptable. But this tax … More

    Chrysler: Pay Back the Money!

    The Obama Administration appears about to walk away from $7.5 billion in taxpayer money used to prop up Chrysler. This little information nugget was buried in Chrysler’s filing before the bankruptcy judge last week and confirmed by Administration sources. So much for responsible government and transparency! The Bush Administration pumped … More

    The Havoc Our Government Wreaks

    Commenting on the White House’s Chicago-style negotiations with Chrysler’s creditors, The Atlantic‘s Megan McArdle writes: [W]hen did it become the government’s job to intervene in the bankruptcy process to move junior creditors who belong to favored political constituencies to the front of the line? … these people lent money under … More

    Chrysler's Creditors and Offers You Can't Refuse

    President Obama was clearly miffed yesterday. His plan for restructuring Chrysler without a bankruptcy had been blocked by the refusal of some of the firm’s creditors to sign on to the restructuring deal hand-crafted by the White House. He decried their decision, calling them a “small group of speculators.” Later, … More

    Meddling with Unacceptable Speculators

    “I want to disabuse people of this notion that somehow we enjoy, you know, meddling in the private sector.” – President Barack Obama, April 29, 2009 “After consulting with my auto task force, industry experts, and financial advisors, I decided to give Chrysler and Fiat 30 days to reach an … More

    If You Don't Like Meddling, Then Stop Meddling

    At the end of last night’s press conference President Barack Obama insisted: But I want to disabuse people of this notion that somehow we enjoy, you know, meddling in the private sector. … I’m always amused when I hear these, you know, criticisms of “Oh, you know, Obama wants to … More

    It’s Official: Chrysler Files for Bankruptcy

    From CNNMoney: “Chrysler LLC will file for Chapter 11 bankruptcy protection in a New York court Thursday senior Obama administration officials said, kicking off what the administration predicts will be a 30- to 60-day restructuring for the third-largest U.S. auto maker. The U.S. government will provide up to an additional … More

    About Those Cars Obama Wants to Build...

    Following up on EPA administrator Lisa Jackson’s statement that “what this country needs is a one single national road map that tells automakers who are trying to become solvent again what kind of car it is they need to be designing and building for the American people,” the Washington Post‘s … More

    Morning Bell: Free Enterprise's 100-Day Death March

    Previewing the Obama administration’s upcoming “sweeping” environmental regulatory agenda, EPA Administrator Lisa Jackson told NPR‘s Michelle Norris yesterday: “The President has said, and I couldn’t agree more, that what this country needs is a one single national road map that tells automakers who are trying to become solvent again what … More

    Fool Me Once

    It seems that we keep being told that the policy is temporary, and is far short of nationalization, only for Congress to turn around after the legislation has passed and “convert” loans into stock: to turn a bailout into a nationalization. This has now happened with AIG, the car companies, … More