The Goldman Sachs Conspiracy

This MarketWatch story is stretching to find something that I don’t think is there.  But it makes for a good read, and it does provide evidence to show that Goldman Sachs is way too influential in our government.  Here’s a taste…. He (“Hank the Hammer” Paulson) got $38 million his last year as CEO in […]

GM grabs another $5 billion

According to Reuters, GM has managed to grab another $5 billion in US tax dollars today.  And the UAW is whining that they aren’t being treated fairly. “We need President (Barack) Obama and his auto task force to stand up for the interests of workers and retirees in these restructuring negotiations,” the union said in […]

The lesson of Ireland

In the NY Times today, Paul Krugman does a good job of explaining why Ireland is in deep trouble.  Unfortunately, Mr. Krugman draws the wrong conclusions from the Irish experience – he thinks we need to nationalize banks, when the lesson to learn is to not bailout private banks. Mr. Krugman says Last September Ireland […]

The real reason we bailed out AIG

In reading through the news over the past few days, it’s apparent that many people are upset with the multiple AIG bailouts.  Some are upset that executives are getting bonuses (I am too) but I think the real reason for the bailouts in the first place is far worse than a few boneheaded executives paying […]

Honk if you’re paying my mortgage

I’m not a Republican (or a Democrat), but I like this. The only thing that might be better is if it said “Honk if I’m paying your mortgage” Or maybe a few others: Honk if you’re bailing out my bank. Honk if I’m bailing out your bank. Honk if you’re tired of bailouts. Honk if […]

Why AIG blew up

The NY Times has a good article today which examines why we’re stuck paying hundreds of billions in bailouts to AIG.  The article is titled Propping Up a House of Cards. It’s a good article, and it does a good job of explaining what happened, but I think it draws the wrong conclusion.  The NY […]

Housing in the tank

The housing market is bad.  And it’s getting worse.  A report on CNN today says: Hammered by the ailing housing market, mortgage finance giant Fannie Mae said Thursday it would tap its lifeline from the Treasury Department after reporting $58.7 billion in losses for 2008. The company, a crucial source of funding for mortgage lenders, […]

Is Bernanke playing dumb?

It’s hard to believe that Federal Reserve Chairman Ben “Helicopter” Bernanke is actually as dumb as his statements make him sound.  In his testimony to the Senate today, he said that if the government purchases common shares in banks, that it “may or may not” have an impact on shareholders. Has he never heard of […]

Another Bailout for AIG

Looks like $150 billion wasn’t enough to stop the bleeding at AIG – we’re getting ready to give them more money.  According to Reuters AIG is asking for more aid and bracing for a fourth-quarter loss of roughly $60 billion, a source familiar with the matter said. It would be the biggest loss in a quarter […]

Stimulus bill explained

This is hilarious – the sad part is that much of it is also true.  Check out Stimulus Package Explained” on The Daily Capitalist.  Here’s a snip: We need to keep that money here in America. You can keep the money in America by spending it at yard sales, going to a baseball game, or […]