At some point in every law school, students are taught the old lawyer’s trick of “inconsistent pleadings.” The classic example of this involves a case where someone is accused to borrowing someone’s teapot and breaking it. The (perfectly legal) defense can simultaneously be: I didn’t borrow the teapot The teapot …
Despite the fact that Congress intended the $700 billion Troubled Asset Relief Program (TARP) solely for financial institutions, the Bush administration, the Treasury, Members of Congress and the automakers are negotiating a plan to use the last $15 billion to bail out Detroit’s automakers. I won’t get into the illegality …
Washington Post assistant managing editor Eugene Robinson believes that anyone who opposes a federal government bailout of General Motors and Chrysler is a “lunatic.” So how does The Washington Post deal with the fact that their latest survey shows 55% of the American people oppose that very bailout? Well you …
Senate conservatives last week waged a hard-fought and principled battle to protect both U.S. taxpayers and the integrity of the free market against the Washington establishment that favored a government bailout of General Motors and Chrysler. By late Thursday it appeared they had won. But within hours of the end …
Surely, some concessions can be made, right?
Last night while marshaling votes for the House’s eventual 237-to-170 vote in favor of nationalizing Detroit, House Majority Leader Steny Hoyer (D-MD) told the Wall Street Journal: “If we do nothing we face the risk that sometime soon there will be no American auto industry.” Hoyer has it exactly backward. …
