The National Basketball Association’s San Antonio Spurs are known for winning NBA championships in odd years, winning in 1999, 2005, 2005 and 2007. Bad energy bills are beginning to follow the same trend as Congress passed energy bills in 2005 and 2007 that focused on subsidies and mandates as opposed to a market-driven approach. 2009 is shaping up to be no better; in fact, the draft of new energy legislation suggests it will be much, much worse. Chairman Henry Waxman (D-CA) of the Energy and Commerce Committee and Chairman Edward …
In Tuesday’s inaugural address, President Barack Obama delivered the following words: Today I say to you that the challenges we face are real. They are serious and they are many. They will not be met easily or in a short span of time. But know this, America — they will be met.” The question remains: which of these challenges is our nation’s top priority? Unsurprisingly, according to the latest national survey by the Pew Research Center for the People & the Press, the American people feel the economy takes precedence. …
California Rep. Henry Waxman, chair of the Energy and Commerce Committee, has a New Year’s resolution. For the good of the economy, let’s all hope he can’t keep it. AP reports, The chairman of a key House committee said Thursday he will move “quickly and decisively” to push legislation curbing greenhouse gases with a goal of passing climate legislation out of his committee before Memorial Day.” And straight from the horse’s mouth: Our environment and our economy depend on congressional action to confront the threat of climate change and secure …
At the height of the campaign season, House Oversight Committee chair Henry Waxman (D-CA) held a number of hearings on the burgeoning financial meltdown including investigations into the bankruptcy of Lehman Brothers, the bailout of AIG, The Breakdown of Credit Rating Agencies, and The Role of Federal Regulators. The purpose of all of these hearings was to blame deregulation and Wall Street greed for the markets downturn. Not until the election was safely over did Waxman manage to hold a hearing on the role government intervention played in the disaster. …
This Wednesday, government-sponsored entity Freddie Mac announced that it lost $2.8 billion in just the last quarter alone from foreclosures and other related expenses. Both Freddie, and its sister Fannie Mae, are at the core of the recent housing finance crisis. Freddie and Fannie help finance 40% of all U.S. mortgages, and in 2004 the two GSEs bought a combined $175 billion in subprime backed securities — 44% of the subprime market. Liberals are desperate to pin the housing crisis on anybody other than government intervention in the marketplace. Government …
