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    An Iceberg of Financial Reform, but What Lies Beneath?

    A whopping 62 percent of Americans now say the United States is on the wrong track, yet President Barack Obama and liberals in Congress continue to steer the country in the same downhill direction toward bigger government. That runaway train picked up more speed this morning, as a House-Senate conference … More

    A "Crisis," More Hype, and Another Call for Bailouts

    Brace yourselves – America is about to fall into an “education catastrophe,” says Secretary of Education, Arne Duncan. Up to 300,000 educational workers may receive pink slips this coming fall. The only solution is the same solution to all our other economic problems. Yes, you know the drill. It is … More

    Morning Bell: The Government Bailouts Must End

    Late Saturday night President Barack Obama sent a letter to the leadership of the House and Senate urging them to approve a tax and spending bill currently being debated in the Senate that already would add $80 billion to our nation’s budget deficit. But coming off of last year’s $862 … More

    Deal with Fannie and Freddie Now or We'll Pay Later

    What’s the main selling point for the financial regulation bill Congress is debating? That it would end taxpayer bailouts. The Senate even added an amendment directly noting that the bill is intended to “prohibit taxpayers from ever having to bail out the financial sector.” But don’t breathe a sigh of … More

    How Smart Growth Policies Helped Paulson and Goldman Sachs Short Housing

    Everybody now knows that the hedge fund at the center of the Goldman Sachs SEC complaint, Paulson & Co., made a fortune by selecting credit default obligations made up of high risk mortgages. What is less well known is how Paulson picked mortgages. The Wall Street Journal reports: “According to … More

    No US Taxpayer Dollars for Greek Bailouts

    The European Union (EU) has gone hat in hand to the International Monetary Fund (IMF) for assistance in bailing out one of its own. Greece is in a financial death spiral brought on by years of amazingly irresponsible deficit spending and similar behaviors often found in socialist states to the … More

    Morning Bell: Fannie and Freddie Failure Forever

    Yesterday, Sen. Chris Dodd (D-CT) told reporters about his financial regulation bill, “We’ve ended the ‘too big to fail’ debate. So no longer do I expect any argument to be made that this bill exposes the American taxpayer.” Really. Someone might want to tell Sen. Dodd that in other news … More

    In Their Own Words: Geithner Makes the Case for Permanent Bailouts

    Conservatives say the Dodd Finance Bill means Wall Street Bailouts Forever. Progressives say the Dodd bill “makes bailouts impossible.” Who’s right? Well lets ask Treasury Secretary Timothy Geithner who described the bill this way in The Washington Post: The Senate bill gives the government the authority to wind down the … More

    Obama: Read My Lips, No More Bailouts (But Let's Keep $50 Billion Around Just in Case)

    President Obama met today with members of Congress to jawbone them on the pending financial reform bill. A key part of his message: “we must end taxpayer bailouts.” Few statements are less controversial than that. Nobody wants to see more bailouts. But wait a second. Doesn’t the very legislation he’s … More

    Automakers to Taxpayers: Can We Get Another Bailout, Please?

    A recent GAO report warns that GM and Chrysler may need even more taxpayer money. This comes after GM and Chrysler received the overwhelming bulk of an $81 billion auto bailout under TARP. The report finds GM and Chrysler may have unfunded liabilities for their pension programs. These obligations could … More