This is one of the few times I agree with George Will: With the braying of 328 yahoos — members of the House of Representatives who voted for retroactive and punitive use of the tax code to confiscate the legal earnings of a small, unpopular group — still reverberating, the Obama administration yesterday invited private-sector […]
Economy
Unintended Consequences: AIG Bonus Tax Could Have Painful Side Effects
Haste makes waste my grandmother used to say… When it comes to legislation haste often leads to unintended consequences. Take for example congresses rush to pass a 90 percent tax on the retention bonuses paid to executives at AIG (emphasis mine): Lawmakers bellowed with outrage last week following revelations that AIG was paying millions in […]
Washington Mutual Sues the FDIC
Washington Mutual Inc. has filed suit against the FDIC seeking to recover roughly $13 billion connected to the seizure and sale of its banking arm by federal regulators. From Reuters: NEW YORK (Reuters) – Washington Mutual Inc, the failed U.S. savings and loan, has sued the Federal Deposit Insurance Corp for well over $13 billion […]
Kerry and Boxer: U.S. ‘Needs’ Cap-and-Trade on Carbon Emissions Even if Energy Costs Rise
I was going to mention this Washington times piece on Barack Obama’s climate plan yesterday… But I had the feeling if I waited one or more of our genius politicians would say something stupid. Enter Democratic Sens. John F. Kerry and Barbara Boxer: Democratic Sens. John Kerry and Barbara Boxer told CNSNews.com that the nation […]
Congressman McCotter Slams Stimulus “Yes” Voters for Protecting AIG Executive Bonuses
I’m about ready to make Rep. Thaddeus McCotter of Michigan my adopted Congressman: “Facts are hard things to disprove. Every single Democrat in this House that voted for that bill voted to approve and protect those AIG bonuses. Every single Democrat in the Senate that voted for that stimulus bill, along with three Republican senators, […]
The Hits Keep Coming: Chris Dodd Was For AIG Bonuses Before He Was Against Them
From Fox Business (emphasis mine): Senator Chris Dodd (D-Conn.) on Monday night floated the idea of taxing American International Group (AIG: 0.9194, 0.1393, 17.86%) bonus recipients so the government could recoup some or all of the $450 million the company is paying to employees in its financial products unit. Within hours, the idea spread to […]
44 Out Of 800???
Chris Wallace tossed out an interesting factoid on Fox News Sunday this morning… Out of 800 cabinet positions that require Senate confirmation Barack Obama has only nominated 44 and of those only 28 have been confirmed. I’m hoping I heard that wrong it strikes me as being an absurdly low number seven weeks into an […]
Sydney Morning Herald: Geithner’s Incompetent
I wrote earlier that I believe the Obama Administration’s wanton destruction of our economy was the result of simple inexperience or incompetence rather than malice. Tomorrow’s Sydney Morning Herald seems to support that conclusion: When Barack Obama announced his champion to rescue the world from economic ruin, it was the first time most Americans had […]
Is Obama Intentionally Destroying Our Economy???
Never assume malice where incompetence will suffice. Over the last few days I’ve been hearing various theories that essentially say… The Obama administration is deliberately damaging the economy and gutting the stock market on the theory that doing so will make it easier for them to argue “the free market has failed” and pave the […]
Jim Cramer Responds to White House Spokesman Robert Gibbs
First it was Rush Limbaugh and then Rick Santelli now it’s Jim Cramer who seems to be at the top the White House’s “enemies list”. While I’m no fan of Jim Cramer and his often over the top rants he’s right on the mark with his criticism of Pres. Obama’s agenda: This is an agenda […]
Evan Bayh: Senate Should Reject $410 Billion Omnibus Appropriations Bill
Some of you may have noticed this page has been rather quite for the last couple of days while I’ve been working on a few things behind the scenes. Anyway let’s get back to it shall we… Democratic Senator Evan Bayh had an interesting Op Ed in yesterday’s Wall Street Journal that I’d suggest reading […]
Larry Kudlow: Obama Declares War on Investors, Entrepreneurs, Businesses, And More
In hard hitting piece post yesterday on CNBC.com veteran economist Larry Kudow takes President Barack Obama to task over his economic policies: Let me be very clear on the economics of President Obama’s State of the Union speech and his budget. He is declaring war on investors, entrepreneurs, small businesses, large corporations, and private-equity and […]
A National Crisis???
Things have been a little hectic over the last few days so I didn’t have time to get to a couple of articles I had bookmarked. One of the things that seems to be getting lost in all the hysteria about the Mortgage crisis is that bluk of the problem are concentrated in 4 or […]
Barack Obama’s 2% Illusion
From the Wall Street Journal: President Obama has laid out the most ambitious and expensive domestic agenda since LBJ, and now all he has to do is figure out how to pay for it. On Tuesday, he left the impression that we need merely end “tax breaks for the wealthiest 2% of Americans,” and he […]
CNBC’s Rick Santelli Responds to White House Spokesman Robert Gibbs
CNBC’s Rick Santelli seems to have struck a nerve with his impassioned rant against Pres. Obama’s home mortgage bailout plan. To be honest I’m not at all surprised, there seems to be disconnect between those inside the beltway and those outside. I tend to think most Americans instinctively don’t like the idea of the government […]