Can You Define What A ‘Financial Institution’ Is Defined As In the Bailout Legislation (TARP)? Don’t Worry, Hank Paulson Can’t Either
I know it’s starting to look like we’re piling on Treasury Secretary Hank Paulson, and we are–for good reason.
Read this story and try to justify why this empty suit is still in office.
What is the definition of a financial institution under the Troubled Assets Relief Program (TARP), Treasury Secretary Henry Paulson was asked on Tuesday. [...]
China Now Number One Holder of U.S. Debt
The economic hits just keep on coming, don’t they? As if we didn’t have enough going on with this credit crisis and and the increasingly broad socialist bailout, we now read that China has surpassed Japan as the largest foreign holder of Treasury debt:
China surpassed Japan in September to become the biggest foreign holder of [...]
President Bush Warns Against “Too Much” Government Interference In Markets
President Bush has finally lost it. I take no pleasure in stating this, but it’s true. Take a look at what he said yesterday regarding government interference in economic markets:
In a speech at the Manhattan Institute in New York before weekend talks among leaders from the Group of 20 nations, Bush said policy makers should [...]
Hank Paulson Expands Scope Of Financial Industry Bailout
Shocking, I know. I mean, who couldn’t see this coming?
Treasury Secretary Henry Paulson said Wednesday that the government would broaden the reach of its $700 billion bailout plan to support non-bank financial institutions that provide consumer credit, such as credit cards and auto loans.
In this second stage of the bailout, officials also hope to attract [...]
White House: Bailout Isn’t Socialism Because We Say It Isn’t
Look at what Bush’s White House has become, and just remember, it’s only going to get worse with The Messiah in there in a couple of months:
The federal government’s $700 billion bailout of Wall Street, which includes purchasing shares in the nation’s banks, does not undermine free market capitalism, the White House said on Friday. [...]
What Was That About Taxpayers Receiving Any Profit From The Bailout?
So you think you as a taxpayer (and now shareholder of several banks) will be receiving some of the profit the government gets when the housing market rebounds and home values appreciate? Think again.
Barney Frank is telling you what I have been saying since the conception of the bailout: You’re not getting a refund, dividend, [...]
A Positive From The Financial Crisis: Many Illegals Are Leaving The U.S.
There aren’t many positives one can pull of our current economic crisis, particularly after the socialist bailout was forced upon us, but there is a positive: Many illegal aliens are returning to their countries of origins as a result of not being able to find work:
fter struggling just to pay his $300 monthly rent and [...]
U.S. Government Can Keep Ownership of Banks as Long as It Wants
As we have been saying folks this bailout and the subsequent ownership power it has given to the United States government is a potential springboard to a form of socialism.
One of my primary questions as finally been answered: When does the government have to relinquish ownership in the banks and other institutions it now [...]
Bush: “Government’s role will be limited and temporary”
That statement from President Bush includes my two primary issues with this bailout–scope and time frame.
Let’s take the first part of his statement regarding the scope of government interference ownership. He makes that claim that the government’s role will be limited, but limited relative to what–complete ownership of every company in the banking industry, or [...]
Treasury Department Considers Taking Ownership of Banks
What did I tell you? I wrote on Tuesday that if the financial markets continued to decline we would likely see Congress or the Bush administration come back to us and say the government needs even more control over the economy. Guess what? We may already be heading down that road:
Having tried without success to [...]