Tag Archives: tarp
April Employment Report Showers Doubt on Detroit Bailout
The Obama Administration has used its clout to pressure many of Chrysler’s creditors to take large losses on their holdings while protecting the United Auto Workers (UAW). This will make lenders reluctant to extend secured loans to other heavily unionized companies, further aggravating the problem of unionized companies losing more jobs than non-union companies because they invest less. The weak job market shows that this is no time to manipulate the financial system to reward politically favored interest groups. Continue reading
Obama's Leap to Socialism
President Obama showed his hand this week when The New York Times wrote that he is considering converting the stock the government owns in our country’s banks from preferred stock, which it now holds, to common stock.
This seemingly insignificant change is momentous. It means that the federal government will control all of the major banks and financial institutions in the nation. It means socialism. Continue reading
Obama's code of secrecy
On April 15, tax day, most Americans feel a little violated as the government peeps into their most private affairs to see what’s taxable. The Obama administration views such transparency as a one-way street. Continue reading
A Crisis Obama Won't Waste
This economic crisis is too useful for Obama to want it to end. When Rahm Emanuel — and later Hillary Clinton — spoke of never letting a good crisis “go to waste,” many people were shocked. But now Obama seems to embody the corollary: that the crisis should continue until he has thoroughly milked it to reshape American politics, society and the economy Continue reading
Posted in current events
Tagged bailout, economics, european union, federal spending, financial stability board, free market, tarp
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