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    If Only We Were More Like Sweden

    “We are the United States of America, we are not Sweden.” U.S. Treasury Secretary Timothy Geithner, March 23, 2009. “The Swedish state is not prepared to own car factories.” Swedish enterprise minister Maud Olofsson, March 22, 2009. “Today, Treasury Secretary Tim Geithner and National Economic Council (NEC) Director Larry Summers … More

    Auto Parts Get $5 Billion Bailout: Where Does the Cycle End?

    In February, groups representing the auto parts suppliers asked for a $25.5 billion bailout from the Treasury. Yesterday, the Treasury announced parts suppliers will receive about one fifth of that through Troubled Asset Relief Funds: The Treasury Department announced a $5 billion program to aid struggling auto-parts suppliers, raising the … More

    Stop the Bailouts

    When you do a Google news search for “TARP” there is a common theme throughout the results: more and more banks want to repay the money. The reason for the change of heart, it fuels government power within the financial markets and tax payers have had enough and rightfully so. … More

    Morning Bell: Government, Inc.

    “If you don’t return it on your own, we will do it for you.” So warned Sen. Chuck Schumer (D-NY) referring to the $165 million in bonuses paid to employees of the 80% taxpayer owned insurance company AIG. And how did Schumer plan to force those employees to give their … More

    The Government Can't Sell Cars

    As President Obama and Congress are starting to learn, it isn’t easy running American businesses from Washington. This week AIG threw bonuses in the faces of their new CEO’s on Capitol Hill, after Senator Chris Dodd (D-CT) specifically legislated that they could do just that. Senator Dodd is apparently wishing … More

    "The Largest Protectionist Racket in the World"

    Dangerous currents advocating protectionism are alive and well on both sides of the Atlantic. A “Buy American” clause in the latest U.S. stimulus package may have been eased to avoid violation of bilateral trade agreements, but its protectionist intentions remain. But the European Union is in no position to lecture … More

    Shocking: Americans Oppose Giving More Money to Detroit

    They didn’t support it the first time around and nothing has been done to indicate to Americans that change and sustainability are on the horizon. The Detroit Free Press reports, A new survey shows that 64% of likely voters are opposed to the federal government loaning General Motors Corp. and … More

    Can Non-Americans Buy Our Cars Too?

    We know that the Obama Adminstration has a shaky commitment to free trade at best, but this statement by White House press secretary Robert Gibbs is troubling: “We have to ensure that the cars of tomorrow are built here by Americans, for Americans,” White House Press Secretary Robert Gibbs told … More

    Morning Bell: President of Everything

    “This is a presidency on steroids.” That’s not an assessment from a libertarian shocked by President Barack Obama’s first month in office. That is the first sentence of Eugene Robinson‘s latest column, which goes on to list many of the ways that the Obama Administration is “managing the big chunks … More

    UK Auto Bailout

    Few economists have a good word for the Smoot-Hawley tariffs of 1930, which provoked a worldwide round of competitive protectionism that reduced trade, deepened and prolonged the Great Depression, and aided the rise of the Nazi Party. Out of that disaster came a bipartisan consensus: the U.S., for decades a … More