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    Morning Bell: Vital and Acceptable

    The $700 billion financial rescue that the House will vote on today is a significant improvement over the drafts released last Friday, and the Friday before that. According to the Congressional Budget Office, the plan will eventually cost “substantially less” than the oft-quoted amount of $700 billion, and it even … More

    Morning Bell: Big Government Fails Again

    This weekend Treasury Secretary Henry Paulson announced that mortgage giants Freddie Mac and Fannie Mae will be placed in a government conservatorship that closely resembles a bankruptcy reorganization. The move puts U.S. taxpayers on the hook for $5.4 trillion in outstanding mortgage debt and commits the government to provide as … More

    It Could Have Been Worse...

    The Associated Press is reporting that Democratic and Republican lawmakers have reached a tentative deal today on a stimulus package. First the good news: the giveaway does not include money for food stamps, unemployment insurance benefits or infrastructure projects. Also, although it is not mentioned in the AP story, we … More