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    FBI Agents Raid Solyndra's Fremont, California Headquarters

    The politically connected solar firm that announced its impending bankruptcy last week was raided by federal agents this morning as part of a joint investigation between the FBI and the Energy Department Inspector General’s office. The company, Solyndra Inc., had received significant favorable treatment from the Obama administration. One of the company’s … More

    Congressmen Ask White House for Documents on Solyndra's Federal Loan

    One day after solar company Solyndra closed its doors, two U.S. congressman are asking the White House for all documents related to the federal government’s $535 million loan guarantee. The probe also seeks correspondence between administration officials and the company’s investors, seeking to uncover if the White House engaged in … More

    VIDEO: Georgia City Saves Big After Privatizing Services

    Just outside Atlanta sits the city of Sandy Springs, Ga., a community that, on its surface, looks a lot like many others. But if you look at a little bit closer at how the city’s government works, you’ll find a remarkably different model of efficiency that stands apart from the … More

    Morning Bell: Stop the State Bailouts Before They Start

    Hamtramck, Michigan, is running out of money. City Manager William Cooper tells The New York Times: “We can make it until March 1—maybe.” And Hamtramck is not alone. According to the Times, 15 municipalities have pursued bankruptcy in the past two years. And if the economy does not improve revenues, … More

    Bailouts or Bankruptcy for State and Local Government Pension Problems?

    The year 2011 will be the year of decision for underfunded state and local governments with pension and debt problems. The end of federal money from the stimulus package that many cities and states have used to prop up their finances, combined with the outsized cost of meeting their pension … More

    Morning Bell: An Offer BP Couldn't Refuse

    On October 13, 2008, Treasury Secretary Henry Paulson summoned the CEOs of the nation’s largest banks into a gilded conference room at the Treasury Department just a stone’s throw away from the White House. Each CEO was then handed a one-page document that said their company would agree to sell … More

    A Victory for the Rule of Law

    Do you remember Anna Nicole Smith? The Playboy model died from a drug overdose back in 2007, but the litigation over her late husband J. Howard Marshall’s estate lived on. After forum shopping for a friendly venue and multiple appeals that went all the way to the United States Supreme … More

    TARP Inspector General: Same Road, Faster Car

    In an unusually harsh report released yesterday, the government’s Special Inspector General for TARP blasted the bailout program, charging that it has not only failed to meet its goals, but that — absent change — it may have made things worse. Among other things, Inspector General Neil Barofsky concluded that … More

    Bankruptcy: A Better Answer to “Too Big to Fail”

    The financial reform bill that is currently before the House would give regulators virtually unlimited power over “too big to fail” financial institutions. Those are large, complex and usually international entities whose failure could cause such a shock to the interconnected financial system that others would be endangered. Under the … More

    AIG: Did Geithner Give Away the Farm?

    It’s official: U.S. taxpayers did not get a good deal when they bailed out AIG last year. That was the conclusion of a report released yesterday by Neil Barofsky, the federal government’s special inspector general for TARP. The conclusion is no surprise: no one holds up the $170 billion bailout … More