• The Heritage Network
    • Resize:
    • A
    • A
    • A
  • Donate
  • TARP

    Backdoor Bailouts Begin

    The Treasury Department’s release of $100 million from the Hardest Hit Fund last week amounts to a federal bailout of five Michigan cities without congressional oversight or approval. The Hardest Hit Fund, part of the 2008 Troubled Asset Relief Program, was intended to provide assistance to homeowners in states particularly … More

    Fed Reports on Bailouts and Moral Hazard

    Back in 2010, The Heritage Foundation’s Index of Economic Freedom first reported the shocking erosion of America’s long-cherished economic freedom. The interventionist policies put in place by the “Yes, We Can” Administration caused our nation’s economic freedom status to plunge from “free” to “mostly free.” The downward trend has continued … More

    Geithner Draws Wrong Dodd-Frank Lessons and Forgets Fannie Mae

    There were plenty of lessons to learn after the financial crisis of 2008. Unfortunately, neither Congress nor the Obama Administration was willing to take the time to learn them. Instead, they acted before they understood the causes of the crash or what to do to avoid similar bailouts in the … More

    Report Alleges White House Hypocrisy on Executive Compensation

    House investigators are alleging a White House double standard in its rhetoric toward executive compensation for large financial institutions. The allegations appear in a report released in advance of a hearing on government-back housing giants Fannie Mae and Freddie Mac. President Obama ramped up the populist rhetoric in 2009 with … More

    Guest Blog: Rep. Ed Royce on the Small Business Lending Fund

    The Small Business Lending Fund was cleverly named by its authors last Congress. Since its implementation, however, it would appear a more appropriate name would be the Bailed Out Bank Refinancing Fund.  When Barney Frank and other supporters proposed the SBLF, it was believed banks would leverage the fund leading … More

    Morning Bell: When Will Our Progressive Corporatism Nightmare End?

    $154 billion. That is the amount of taxpayer money that will be needed to bail out Fannie Mae and Freddie Mac according to a new “stress test” performed by the Federal Housing Finance Agency. And that is the good news. If the economy dips into a second recession and foreclosures … More

    "When Liberalism Doesn't Work It Discredits Liberalism"

    This past Friday the Associated Press reported: Nearly half of the 1.3 million homeowners who enrolled in the Obama administration’s flagship mortgage-relief program have fallen out. The program is intended to help those at risk of foreclosure by lowering their monthly mortgage payments. Friday’s report from the Treasury Department suggests … More

    Why Obamanomics Has Failed - Annotated

    Carnegie Mellon University economics professor and American Enterprise Institute visiting scholar Allan Meltzer has a must read op-ed in today’s Wall Street Journal titled: Why Obamanomics Has Failed: Uncertainty about future taxes and regulations is enemy No. 1 of economic growth. It is re-posted in its entirety below but as … More

    An Iceberg of Financial Reform, but What Lies Beneath?

    A whopping 62 percent of Americans now say the United States is on the wrong track, yet President Barack Obama and liberals in Congress continue to steer the country in the same downhill direction toward bigger government. That runaway train picked up more speed this morning, as a House-Senate conference … 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