The Taxpayer Bailout of GM, Helping Them Sell Unsafe Cars
President Obama, December 2013:
In exchange for rescuing and retooling GM and Chrysler with taxpayer dollars, we demanded responsibility and results.
The news he alluded to, but did not directly mention that day:
The taxpayer loss on the GM bailout is $10.5 …
Armageddon at the Strip Mall
Remember 2007? Glory days, right? Everything was booming, and nothing was booming quite as much as real estate — especially commercial real estate. Malls, hotels, warehouses, industrial parks: Everything was being built, and everything was being financed on ridiculously generous terms. …
Treasury Offloads Citi Stock
Uncle Sam is getting out of Citigroup. Hooray.
But we’ve still got that dodgy insurance company and automobile maker on our national balance sheet. And Fannie and Freddie.
We turned a little profit on our Citi stake, meaning that …
The Irish Bailout a “World Record”
That’s gonna sting!
The additional €35bn (£29.8bn) being ploughed into Ireland’s banks has shocked experts, who have expressed concern that tonight’s bailout would not contain contagion in the eurozone.
Brian Lucey, associate professor of finance at Trinity College Dublin said …
Bobby Bailout: Casey to Put Taxpayers on Hook for Teamsters’ Shenanigans
Sen. Robert Casey (D., Pa.) and Rep. Earl Pomeroy (D., N.D.) are pushing legislation that would commit taxpayers’ dollars to bailing out the Teamsters’ retirement pension fund. The financial crisis and the Great Recession may have upset your retirement …
The Fine Print on Democrats’ ‘One Million Jobs Saved’ Figure . . .
One of the big Democratic talking points on the Sunday shows yesterday was the argument that the auto bailout, began under President Bush and expanded under President Obama, “saved one million jobs.”
The figure comes from the Center for Automotive …
Why am I not entirely confident that having five little Fannies and Freddies will be better than having two of them?
The U.S. government is not very good at being in the mortgage business. The GSEs have been sties …
Ireland does not have enough money to both bail out its banks and pay its government debts, Citi’s top economist says.
Accessing external sources of funds will not mark the end of Ireland’s troubles.The reason is that, in …
Another Stimulus, Another Bailout
Pres. Barack Obama’s plan for yet another round (!) of stimulus spending, this time focused on highway infrastructure work, is, like so many products of this administration, something other than what it seems. What Obama is proposing is another backdoor …
“Where’s My Bailout?” Right after the great Rick Santelli rant, that slogan had its day in the sun. It was a T-shirt, a bumper sticker, a protest sign, and a really bad song. Where’s your bailout, Joe Average? …