Today’s Wall Street Journal has a must read Op Ed column by Michael Levine. Levine examines the problems faced by GM and explains why seeking chapter 11 bankruptcy protection may GM’s best chance for survival. Why Bankruptcy Is the Best Option for GM Chapter 11 would better preserve the valuable parts of the company than […]
Bailout
Wall Street Journal: Just Say No to Detroit
There’s an interesting essay by New York University finance professor David Yermack in today’s Wall Street Journal. Just Say No to Detroit Given the abysmal performance by Detroit’s Big Three, it would be better to send each employee a check than to waste it on a bailout, says David Yermack. Before Michael Moore became famous […]
Crap Sandwich Redux: Senate to Vote on Bailout Bill
Michelle Malkin and Ed Morrissey have the details on this 451 page monstrosity… That’s right 451 pages! The original Paulson Plan was roughly two pages, the house bill was just over 100 and the senate bill is 451 pages. Some of the additions in the Senate bill include: New Tax earmarks in Bailout bill Film […]
Flamethrower: Thaddeus McCotter
It’s pure unadulterated demagoguery but it’s still a hell of speech! With all due respect Congressman Wall Street didn’t cause this problem… They played their part but it was Congress and government regulators who, in the name of affordable housing, compelled banks to write these risky sub-prime loans. It was Congress who created Fannie Mae […]