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    Sen. Alexander (R-TN) Wants to Give Govt's GM, Chrysler Shares Back to Taxpayers

    On a blogger conference call this morning, Senator Lamar Alexander (R-TN) discussed a bill he introduced last week that would distribute the Federal government’s recently acquired GM and Chrysler stock to taxpaying Americans. “Instead of the Treasury owning 60 percent of shares in the new GM and 8 percent of … More

    The Great Obama: Pulling A GM Profit Out Of His 'Box of Cash'

    From June 4th’s Wall Street Journal: Like a magician who artfully controls his audience’s attention, the government’s General Motors investment is all about financial diversion. Here’s the fancy trick: It won’t be very hard for a revamped GM to succeed at making a buck. Its debts will be cut from … More

    Video: South Park Episode Not A Good Exit Strategy For GM

    On Tuesday, the Wall Street Journal’s Bret Stephens noticed that President Obama’s policy initiatives resemble a 1998 South Park episode in which grand plans are formulated with a beginning and a successful ending, yet without the requisite how-to in the middle. When it comes to the handling of GM, we couldn’t … More

    Rule of Law: Good for Retirees or Only Terrorists?

    Today President Obama stood on the world stage and demanded that suspected terrorists be treated under the “rule of law.” In fact, he used the phrase “rule of law” eight times. It is now time for him to use the phrase “rule of law” when it comes to Americans. In … More

    Meet GM's Bondholders: Jim Graves

    As the State of Indiana announces it will no longer invest in bonds issued by banks and automakers who receive federal bailout money, and waits for a court ruling on whether the the U.S. government acted legally in the Chrysler bankruptcy, we thought we would bring you another installment of … More

    Meet GM's Bondholders: Chris Crowe

    Throughout the next two weeks, the Foundry will be highlighting some testimonials of General Motors bondholders. When President Obama describes bondholders, you get the distinct impression of pinstripe-suit-wearing bankers with scotch in one hand and cigars in the other. However, that is far from the case. In fact, GM bondholders … More

    More Bailouts, Protectionism or Both?

    The government handed out billions of dollars in taxpayer money for General Motors and Chrysler to save jobs and become economically viable as fast as possible. No such luck with Chrysler. If returning to viability is the target, GM may have to turn to imports: General Motors is engaged in … More

    Bankruptcy? Nope, It's Just Another Bailout.

    All bankruptcies are not created equal. For months, Heritage and other conservatives have counseled that the proper course for an ailing automaker is the same medicine as for any other sick company: the bankruptcy process. All along, industry shills and union activists have pooh-poohed that idea, claiming that bankruptcy filings … 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

    Morning Bell: Our Economic Freedom Has Been Sacrificed

    Yesterday on Face the Nation, CBS’s Bob Schieffer asked President Barack Obama: Mr. President, you’re scheduled to announce on Monday what you plan to do with the auto industry as they’re asking for more federal money. … You’ve told them they’re gonna have to cut back, present a different business … More