Housing: Washington Only Delaying Inevitable
Friday’s announcement of more intervention in the housing mortgage market will result in a deeper, longer, and more painful delay in the inevitable...
Economy
Fed Loses Secrecy Suit, Considering Options
The Federal Reserve lost an appeal March 19 in a bid to keep hidden the details of its estimated $2 trillion in bailouts...
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Social Security Trust Fund in Red, Drawing on Federal IOUs
The March 15 Associated Press story was blunt: "For more than two decades, Social Security collected more money in payroll taxes than it...
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Lehman Bros.: Pinprick That Burst the Bubble
The culprits blamed for the failure of Lehman Brothers in September of 2008 included the company’s top executives, their accountants, their highly-leveraged loans...
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Bailout Baloney — Insurance
On Wednesday, February 10, Federal Reserve Chairman Ben Bernanke expressed confidence that every cent of the Federal Reserve’s exposure to insurance giant AIG...
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Sluggish Spending and the Non-Recovery
Coming in the immediate aftermath of news that the sale of new homes dropped in January to its lowest point in 50 years,...
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Home Sales Drop to 50-Year Low
There are further signs that Barrack Obama’s jobless “recovery” is, in fact, no recovery at all. The latest indication of the fundamental unsoundness...
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Senate Passes 15 Billion ‘Jobs’ Bill
As President Barack Obama’s jobless “recovery” is showing more and more signs of being no recovery at all, the Senate has voted another...
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Bailout Baloney – Banking
More than a year has elapsed since the U.S. economy went into a tailspin with the panic that shook the world’s financial markets...
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Federal Stimulus Almost Gone: Education Budget Woes
Sam Dillon of the New York Times reports that the depletion of federal stimulus money will result in schools approaching "a funding cliff."...
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Fed Trying to Protect Bailout Secrecy
Last summer, a federal judge ruled that the Federal Reserve must disclose the identities of firms that received any portions of the over-$2...
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Obama Ponders New Taxes on Banking
The Obama administration is considering asking Congress to impose higher taxes on banks as a way of cutting the deficit. Proposals that have...
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Stimulus Funding Failed to Create Jobs
The Associated Press has conducted an economic analysis to determine the effect of the first 10 months of federal stimulus spending to build...
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GMAC Will Get More Bailout Money
GMAC Financial Services, the former financial arm of General Motors, is set to receive yet more federal bailout funds as the year draws...
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Fannie Mae and Freddie Mac Now Have a Blank Check
Little noticed (so far) by the American public, a Christmas Eve announcement by the Obama administration to expand the amount of bailout monies...
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