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    Is An Automaker a "Financial Institution"? You Decide

    Yesterday afternoon, Supreme Court Justice Ruth Bader Ginsburg issued an order delaying the sale of Chrysler’s assets to a new firm controlled by Fiat, in order to more fully consider claims by a group of Indiana pension funds that the process violated federal law. A key argument made by the … More

    Insurers Just Saying "No" To TARP?

    What if they ran a bailout program and no one came? Last year, the Bush Administration Treasury Department opened TARP’s doors to insurance companies, a number of which promptly filed for aid. Last week, the applications of six of those were approved, totalling some $22 billion. But rather than rush … More

    Financial Prison Break: Banks Flee TARP

    In the weeks leading up to last week’s release of “stress test” results, there was quite a bit of talk about more bailout money for troubled banks — how much they would need, and how much Washington would force them to take. (Yes, force.) How things have changed. Not only … More

    The Federal Elephant in the Chrysler Bankruptcy Courtroom

    Chrysler is declaring bankruptcy. The step that was once declared “off the table” is now a reality. And that’s good news. The bankruptcy process provides the long-troubled automaker with the means necessary to reduce restructure itself into a viable enterprise. It’s also good news that Chrysler will have private-sector help … More

    SNL: Obama Picks Winners

    President Obama Says "No More Bailouts"

    Earlier today, President Obama delivered a speech at an impromptu event, sans teleprompter, as he was on his way to deliver a thoughtful gift to his British counterparts to reinforce our special relationship. “Let me first start by saying that for the duration of my administration, there will be no more bailouts.” … More

    Morning Bell: Car Salesman in Chief

    On April 8, 1952, President Harry Truman ordered Commerce Secretary Charles Sawyer to seize and take over operation of most of the country’s steel mills. Truman cited no legislative authority for his actions. Instead, he cited the Korean War. Truman claimed there was a national emergency and his presidential war … More

    British MEP Daniel Hannan

    [youtube]http://www.youtube.com/watch?v=94lW6Y4tBXs[/youtube]In a speech during Prime Minister Gordon Brown’s visit to the European Parliament on March 24, 2009, British Member of the European Parliament Daniel Hannan gives a striking speech directed at his Prime Minister, explaining the pitfalls of liberal borrow-spend-bailout policies.  Sound familiar?  Instead of DVDs, President Obama should have … More

    The American Tea Party

    A grassroots movement gaining momentum across America, and refusing to be knocked down by administration hit jobs, is calling for President Obama to do something besides spend money. The furor, originally voiced by CNBC reporter Rick Santelli on the floor of the Chicago Board of Trade, is directed at government policies … More

    Auto Bailout Update: Drove My Chevy to the Levee...

    The news of another auto bailout was met with a whimper last week. Surely, the little noticed request for an additional $22 billion was partly overlooked because $22 billion just doesn’t seem like a large amount of money after President Obama spent $787 billion of your borrowed dollars the week … More