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    A "Surgical" Bankruptcy for GM?

    Bankruptcy law is rich with colorful vernacular: cram-down, strip-down, haircut, matrix, etc. But until a few weeks ago, nobody had ever heard of a “surgical” bankruptcy, the Obama Administration’s preferred term for a very big business, like General Motors, whizzing through bankruptcy in just a few weeks flat, rather than … More

    Bailout Fail: Ford Drops Debt, while GM and Chrysler Flounder

    After months of pressure from the federal government to push down General Motors’s and Chrysler’s debt loads, a deal remains far out of reach. With the promise of further federal bailouts, no debt-holders wants to make concessions—accepting just 30 or 40 cents on the dollar, and much of that in … More

    Bailouts, Not Bonuses, are the Problem

    After over a year of the Bush-Obama Bailout Parade, there were some encouraging statements coming from the Senate last week. Sen. Jim Inhofe (R-OK): Should we be mad at the executives who are involved in this and who ran a once-great company into the ground? Yes. But that’s not where … 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

    The World Bank and the UN Want a Bailout Too

    Just when you thought that you had seen everything, here come the World Bank and the United Nations to claim their slice of the government bailout pie. According to the Times Online, “The UN and the World Bank are lobbying for a portion of the billions of dollars allocated to … More

    Taxpayers on the Hook for...Who Knows What?

    Strike Two: Not only did President Obama fail to open the Ledbetter Act for public comment before he signed it, a violation of his pledge to boost transparency, but now his administration is refusing to release information on billion-dollar loan guarantees made to some of America’s largest banks. Bloomberg News, … More

    Bailouts Not Good for Free Speech

    This year already we’ve heard calls for reintroduction of the Fairness Doctrine, and Internet censorship. Now, the first call for public funding for newspapers is here. Lining up behind GM and AIG, media outlets could join the many “distressed businesses” begging for government aid. But, government funding for media – … More