Bush: I Had to Destroy the Market to Save It
“I’ve abandoned free-market principles to save the free-market system,” President George W. Bush said, adding he made the decision “to make sure the economy doesn’t collapse.” What else is there…
Corporate Welfare/Bailouts
An American Icon Allowed to Fail!
In breaking news out of Minnesota, American icon Polariod is filing for Chapter 11 bankruptcy protection. This is a tragedy and should not be allowed to happen! Polariod should…
Bailout Money for Goldman Sachs Bonuses
ABC News reports that Goldman Sachs, which has received $10 billion in bailout money from the U.S. Treasury, is using those taxpayer dollars to pay for employee bonuses. Here is…
Nonprofits Demand Congressional Bailout
Independent Sector, a coalition of liberal charities and foundations, wants to cash in on Washington’s bailout fever, the Chronicle of Philanthropy reports. “There’s simply not enough cash to respond…
A Favor to Goldman Sachs?
How come the Federal Reserve and Treasury Department let the investment bank Lehman Brothers fail last September but gave the insurance company A.I.G. $85…
Another Fed Abuse
The Federal Reserve Board is refusing to disclose who it gave $2 trillion in emergency loans to, Bloomberg reports. The Federal Reserve refused a request by Bloomberg News to…
11,391 More “Bridges to Nowhere”
Robert Poole, director of transportation at the Reason Foundation, had an excellent piece in the Wall Street Journal on December 10. In short, this country’s mayors have gotten together…
Bush Sells Out Again
Just when you thought President George W. Bush’s reputation among conservatives couldn’t get any lower, the smirking failure manages to outdo himself. The Politico reports that the president has…
The Big 3 Takeover
The Wall Street Journal reports that Congress and the Bush administration are poised to move on the scary corporatist bailout package for decrepit Detroit automakers: Congress and the White House…
Hurricane Hank Plans to Strike Again
Probably the worst U.S. Treasury Secretary of all time, Henry Paulson, now wants to try and revive the housing market by forcing banks to cut interest rates on mortgages.