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Keyword: bailouts

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  • Chicago Is Pushing For A Massive Bailout Of Its Public School System

    06/27/2016 1:35:32 PM PDT · by Zakeet · 29 replies
    ZeroHedge ^ | June 27, 2016
    It is well known that Chicago's pension liabilities have completely decimated the city's finances and currently stand at close to $20 billion. Faced with a significant challenge of meeting funding obligations as a result of a 2010 state law, Mayor Rahm Emanuel recently won a slight reprieve in the amount of money the city would have to contribute to fund the liabilities over the next few years, as recently Illinois lawmakers overrode Governor Bruce Rauner's veto and will now change the legislation in order to allow the city to defer payments to fund pensions. Under the prior legislation, Chicago was...
  • German court rules in favor of ECB crisis-fighting tool [European Central Bank bond-buying]

    06/21/2016 3:25:01 PM PDT · by Olog-hai · 1 replies
    TheLocal.de ^ | 21 Jun 2016 10:19 GMT+02:00 | (AFP)
    Germany’s top court ruled on Tuesday that a key crisis-fighting tool of the European Central Bank complies with German national law. The constitutional court ruled that the ECB’s 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law. OMT — though never actually used — was part of ECB’s President Mario Draghi’s landmark promise to do “whatever it takes” to save the battered euro at the height of the crisis in 2012. […] The promise of OMT was that the ECB could, if necessary, buy up unlimited amounts of government bonds from debt-stricken countries that had pledged reforms...
  • Brexit Chaos to Serve as Cover for ECB Bank Bailouts

    06/17/2016 10:04:01 AM PDT · by Lorianne · 4 replies
    Wolf Street ^ | 14 June 2016 | Don Quijones
    Over the course of the last few months, Brexit has become one of the biggest catch-all preemptive scapegoats of recorded human history. Even far beyond the old continent’s porous borders, politicians, central bankers, and economists are warning their respective populations to brace for a serious aftershock if the people of Britain vote to leave the EU. This is is a remarkable feat given that the UK has its own perfectly functioning currency, and as such decoupling from the EU, while bumpy, should not pose an immediate financial threat either to the UK or the EU, let alone the world at...
  • Bernie's Bull: Socialism is the antonym of honesty

    04/17/2016 6:19:49 PM PDT · by Daniel Clark · 9 replies
    The Shinbone: The Frontier of the Free Press ^ | April 17, 2016 | Daniel Clark
    Bernie's Bull: Socialism is the antonym of honesty by Daniel Clark Seldom are presidential polling results as consistent over time and among different polling organizations as they are in concluding that the American people think Bernie Sanders is honest. That's the general perception of the Vermont senator, even among Republicans, but why? Is it just because people don't see some unhinged, frothing blowhard hollering "Lyin’ Bernie" every five minutes on TV? Many conservatives have made the mistake of crediting Sanders with being honest about his socialist ideology, as opposed to Hillary Clinton and the rest of their party, who have...
  • NAFTA May Have Saved Many Autoworkers’ Jobs

    03/29/2016 4:16:27 PM PDT · by Olog-hai · 83 replies
    New York Times ^ | March 29, 2016 | Eduardo Porter
    When Donald Trump threatened to “break” the North American Free Trade Agreement, auto industry workers offered up some of the loudest cheers. Mr. Trump easily won the Republican primary in Michigan this month. The state, home base for the American auto industry, also delivered an upset victory to Bernie Sanders, the Democratic anti-NAFTA standard-bearer. But the autoworkers’ animosity is aiming at the wrong target. There are still more than 800,000 jobs in the American auto sector. And there is a good case to be made that without NAFTA, there might not be much left of Detroit at all. “Without the...
  • Fannie Mae at risk of needing a bailout

    02/20/2016 9:14:46 AM PST · by Lorianne · 17 replies
    CNBC ^ | 20 February 2016 | Barney Jopson
    Fannie Mae, the state-sponsored U.S. mortgage backer, is at risk of needing a government bailout that could shake confidence in the housing finance market, senior officials have warned. Fannie Mae's chief executive and its regulator are sounding the alarm on a decline in the institution's capital cushion, which is on course to vanish in 2018, when it would have to ask the US Treasury for emergency funds. Their warnings highlight Washington's inaction on housing policy and its failure to reform the institution, which guarantees nearly $3 trillion of securities and enables 30-year fixed rate loans, following the last financial crisis....
  • The Party Is Over In Puerto Rico

    01/15/2016 9:05:20 AM PST · by Kaslin · 47 replies
    Townhall.com ^ | January 15, 2016 | Steve Sherman
    Puerto Rico is stunningly beautiful. It's a virtual paradise...Caribbean white sand beaches, a close proximity to the U.S., they speak both English and Spanish, if you're an American citizen you don't need for a passport as Puerto Rico is a US Commonwealth. They've got snorkeling, great food, a rainforest, and a stunning historical fort from the imperial days sitting atop a bluff overlooking the sea. With all that natural attraction you'd think Puerto Rico would be knocking it out of the park economically. Tourism alone should be the driving force to keep the economy rocking. Every American should want to...
  • The Biggest Threat To Obamacare Is Already Written Into Law: No Insurance Industry Bailouts

    12/12/2015 5:56:34 AM PST · by Zakeet · 14 replies
    Forbes ^ | December 10, 2015 | John C. Goodman
    When Barack Obama was campaigning for the presidency in 2008 and when he was selling Obamacare to the public in 2010, he made insurance companies the villains. In fact, on the eve of the passage of the Affordable Care Act, every Democratic spokesperson who appeared on TV to support the health reform legislation had one and only one argument to make: We needed Obamacare to protect ordinary people from ruthless, profit mongering insurance companies. They said almost nothing about insuring the uninsured or controlling costs or making health care delivery more efficient. Instead, every advocate produced at least one example...
  • Green energy company fights for life after getting billions from feds (Abengoa)

    09/02/2015 7:43:16 PM PDT · by Olog-hai · 22 replies
    Watchdog.org ^ | September 2, 2015 | Rob Nikolewski
    Abengoa, a renewable energy multinational company headquartered in Spain, has been a favorite of the Obama administration in getting federal tax money for clean energy projects. Since 2009, Abengoa and its subsidiaries, according to estimates, have received $2.9 billion in grants and loan guarantees through the Department of Energy to undertake solar projects in California and Arizona—as well as the construction of a cellulosic ethanol plant in Kansas. But in the space of less than a year, Abengoa’s financial health has become critical, leading investors to worry whether the company can survive. The company’s stock price on NASDAQ has swooned—from...
  • Trump tells Steve Rattner: 'You should have gone to prison'

    07/27/2015 2:30:02 PM PDT · by 2ndDivisionVet · 83 replies
    CNN Money ^ | July 27, 2015 | Ahiza Garcia
    Presidential candidate Donald Trump is now taking on one-time Obama "car czar" Steve Rattner.On Monday, Trump fired off a tweet telling Rattner: "I think you should have gone to prison for what you did, I guess Obama saved you." He ended the tweet telling Rattner to watch: "I will win!" It was unclear what activity Trump was referring to that should have landed Rattner in jail. Trump did not respond to CNNMoney's request for comment. In 2010, Rattner did pay $10 million in fines when he settled with the New York state attorney general for his alleged involvement in a...
  • Conservative? Donald Trump supported auto bailouts in 2008.

    07/21/2015 10:13:29 AM PDT · by TNMOUTH · 171 replies
    The Daily Caller ^ | 4/20/2011 | Chris Moody
    Although Donald Trump is trying to re-invent himself as a conservative for a possible bid for president in 2012, reminders of his prior support for Democrats and big government polices keep adding up. The latest: The Donald supported the auto bailout in 2008. “I think the government should stand behind them 100 percent,” Trump told Fox News’ Neil Cavuto nearly three years ago. “You cannot lose the auto companies. They’re great. They make wonderful products.” Faced with crushing debts caused by poor management and high labor costs, GM and Chrysler requested federal assistance to keep the firms afloat, and were...
  • Greece Says Yes to No

    07/09/2015 8:31:47 AM PDT · by Kaslin · 11 replies
    Townhall.com ^ | July 9, 2015 | Paul Greenberg
    Judging by the returns from Sunday's vote in Greece, there is no judging. Voters there were asked to decide whether to accept Europe's terms for still more credit after those terms had expired -- even while Greece's erratic government opposed the very deal it had put on the ballot. Sure enough, the voters did. Though just what it all means seems as elusive as it was before the election. If not more so. This could go on for a while -- like indefinitely -- before the fog lifts. The one thing clear is that Greece's "governing" party stays in, which...
  • Bailouts, Bail-ins, and the Greeks’ Trojan Horse

    06/29/2015 12:59:47 PM PDT · by Sean_Anthony · 3 replies
    Canada Free Press ^ | 06/29/15 | Dr. Ileana Johnson Paugh
    The Greek market may be shocked and defaults of various debt instruments may emerge. While Americans are eagerly signing petitions to ban the American flag on the heels of Louis Farrakhan’s Nation of Islam leader call to ban the Stars and Stripes “due to its links to racism” or are busily banning anything attached in any way to the Confederate flag and our history, the United States and the world are in serious financial trouble driven by out-of-control debt, particularly the most visible nation of all, Greece. Healthcare for illegals, gay marriage, and other non-stop crises occupy American overwhelmed minds,...
  • Scott Walker On The Dana Show 5-22-15

    05/22/2015 12:56:54 PM PDT · by Cincinatus' Wife · 1 replies
    FM News Talk ^ | May 22, 2015 | Dana
    29:00 [click on picture then click on red dot to listen]
  • Scott Walker's New Flip-Flop: He Now Supports Auto Bailouts?

    05/08/2015 12:59:07 PM PDT · by 2ndDivisionVet · 38 replies
    Reason's Hit & Run Blog ^ | May 8, 2015 | Nick Gillespie, editor in chief
    Republican presidential hopeful Gov. Scott Walker of Wisconsin has already flip-flopped when it comes to immigration. Once upon a time, he supported the Reaganite position which holds that immigration is a good thing and illegals should be given work permits at least. In 2006, Walker supported the McCain-Kennedy bill that would have granted a path to citizenship (nativists vilify that as amnesty) for illegals. But that was then, reported Politico, and the governor now supports curbs on legal immigration. Walker has a new apparent flip flop in the works, this one about the auto bailouts. Back in 2012, he was...
  • Barney Frank D-MA defends his role leading up to crisis (just another stump speech on meltdown)

    10/26/2008 4:52:25 AM PDT · by Libloather · 26 replies · 747+ views
    South Coast Today ^ | 10/26/08 | Steve Urbon
    Barney Frank defends his role leading up to crisisBy Steve Urbon Standard-Times senior correspondent October 26, 2008 6:00 AM NEW BEDFORD — It's essentially a stump speech by now, as U.S. Rep. Barney Frank explains yet again what was and what wasn't his role in the nation's financial meltdown, particularly in the housing market. Ten days ago at White's of Westport before the regional Chambers of Commerce, again at a Standard-Times editorial board meeting last Thursday, and countless other times, Rep. Frank ran down the list. These were the errors, misjudgments and schemes that amounted to a "Ponzi scheme" of...
  • Proven Failure of Obama Socialism

    10/23/2008 1:26:15 AM PDT · by EyesAndEars4U · 7 replies · 499+ views
    Timeline proving that the mortgage industry crisis is the Democratic socialist experiment. Another socialist experiment failed, this time a massive federal effort, imperiling the whole US banking industry. Facing this economic disaster, can an informed American people put their trust Obama’s socialist ideology to bring remedy? Will they bring in an acetylene torch to put out the fire? http://eyesandearsweekly.blogspot.com/2008/10/narrative-for-change-proven-failure-of.html
  • Repeal, Don't Reform the IMF!

    03/30/2015 4:38:19 PM PDT · by Kaslin · 4 replies
    Townhall.com ^ | March 30, 2015 | Ron Paul
    A responsible financial institution would not extend a new loan of between $17 and $40 billion to a borrower already struggling to pay back an existing multi-billion dollar loan. Yet that is just what the International Monetary Fund (IMF) did last month when it extended a new loan to the government of Ukraine. This new loan may not make much economic sense, but propping up the existing Ukrainian government serves the foreign policy agenda of the U.S. government. ?? Since the IMF receives most of its funding from the United States, it is hardly surprising that it would tailor...
  • Democratic (and Obama) Fund-Raiser Nemazee Indicted In $292 Million Fraud

    09/21/2009 3:33:07 PM PDT · by pissant · 86 replies · 4,048+ views
    NasDaq ^ | 9/21/09 | Chad Bray
    NEW YORK -(Dow Jones)- New York businessman and prominent Democratic fund- raiser Hassan Nemazee was indicted Monday for allegedly defrauding three banks out of $292 million in loans. Nemazee, 59 years old, was charged with aggravated identity theft and three counts of bank fraud in the indictment. Each bank fraud count carries a term of up to 30 years in prison. A lawyer for Nemazee didn't immediately respond to a request for comment. Nemazee, who was involved in various presidential campaigns and once served as finance chairman of the Democratic Senatorial Campaign Committee, was initially charged criminally in August related...
  • Super Hero of Cartoon Character

    02/14/2015 7:01:17 AM PST · by Kaslin · 12 replies
    Townhall.com ^ | February 14, 2015 | Charles Payne
    "I want to work with Congress to replace mindless austerity with smart investments that strengthen America," said President Obama in a recent speech at the Department of Homeland Security. In the making of a counter-cultural hero, in an era of failed responsibility and in an era of passing the buck, a new superstar has been found. In America, we have Elizabeth Warren, who is coming on like gangbuster as an alternative to Hillary Clinton, something I predicted a long time ago. In Europe, Yanis Varoufakis, the Greek finance minister whose un-tucked shirts worn with blue jeans have become a symbol...
  • Will There Be a 2016 Lame-Duck Disability Bailout?

    01/07/2015 9:46:41 AM PST · by Kaslin · 11 replies
    Townhall.com ^ | January 7, 2015 | Terry Jeffrey
    If you thought the lame-duck Congress that met in December -- in which House Speaker John Boehner cut a deal with President Barack Obama to fund almost all of Obama's programs through the rest of the current fiscal year -- was a bad deal for America, wait until the next lame-duck Congress convenes after the 2016 election. That could be the "bipartisan" moment for a bailout of the federal disability program -- and perhaps Social Security with it. The very dry, very long Annual Report of the Board of Trustees of Social Security, released in July, included two crucial predictions....
  • Obama's State of the Union Sales Tour

    01/05/2015 9:06:19 AM PST · by Kaslin · 7 replies
    Townhall.com ^ | January 5, 2015 | Conn Carroll
    resident Obama will travel to three cities this week where he will offer a preview of his January 20th State of the Union address.In Detroit on Wednesday, Obama will celebrate the end of the "auto rescue" which he claims saved one million auto industry jobs and is responsible for the resurgence of manufacturing in the United States. Obama will make no mention that his bailout of General Motors and Chrysler cost taxpayers $16 billion according to the latest Troubled Asset Relief Program Inspector General's report. On Thursday, Obama will travel to Phoenix where he will claim his administration's Home Affordable Modification Program is responsible...
  • Ukraine Needs Second Bailout, Currency Reserves Drop to Critical Level

    12/08/2014 10:47:42 AM PST · by Kaslin · 14 replies
    Townhall.com ^ | December 8, 2014 | Mike Shedlock
    On Wednesday I noted the arrival of carpetbaggers in Ukraine. (See Enter the Carpetbaggers: Ukraine's New Finance Minister a US Citizen, New Economy Minister from Lithuania). No carpetbagging mission is ever complete without at least one visit from the IMF. On Friday we learned that Ukraine will be blessed with a second visit from the IMF as its Foreign-Currency Reserves Dip Below $10 Billion. UkraineÂ’s central bank reported foreign-currency reserves at their lowest for almost a decade, raising pressure on the West to provide more financing to the country being squeezed by Russia. It also presents a dilemma for the...
  • What To Be Thankful For?

    11/27/2014 9:17:42 AM PST · by Kaslin · 19 replies
    Townhall.com ^ | November 27, 2014 | Judge Andrew Napolitano
    What if the government is designed to perpetuate itself? What if the real levers of governmental power are pulled by agents and diplomats and bureaucrats behind the scenes? What if they stay in power no matter who is elected president or which major political party controls Congress? What if the frequent public displays of adversity between the Republicans and the Democrats are just a facade and a charade? What if both major political parties agree on the transcendental issues of our day? What if they both believe that our rights are not natural to our humanity but instead are gifts...
  • Wait. So THAT’S what the bailouts were about?

    10/17/2014 8:10:42 AM PDT · by Lorianne · 11 replies
    Medium ^ | 07 October 2014 | Matt Stoller
    To understand the backstory, letÂ’s take a quick look at AIGÂ’s role in the housing bubble. Broadly speaking, AIG sells insurance, and one of its divisions (AIG Financial Products) sold a very specific type of insurance called a credit default swap. If you were a big bank and you owned a mortgage backed security (stuffed into a collateralized debt obligation, or CDO), you could buy a credit default swap against the possibility that the security would default. Then, because you owned this insurance, whatever that security might contain, be it good loans or the most toxic dreck imaginable, it was...
  • Paul Ryan on the Ex-Im Bank, bailouts: Tactics trump purity

    08/25/2014 5:50:41 AM PDT · by fredericbastiat1 · 9 replies
    TheBlaze Books ^ | 2014-08-25 | Benjamin Weingarten
    During the interview, Ryan addressed several issues on which conservatives have been critical of the Republican Party, from perpetuating crony capitalism to immigration. Perhaps most interesting was the congressman’s defense of votes he and fellow Republicans took in favor of TARP and the 2009 auto bailout, and his belief in the efficacy of a short-term reauthorization of the Export-Import Bank. When asked how his votes for TARP and the auto bailout comport with the populist, free market philosophy Rep. Ryan espouses in his new book, noting that he "did not enjoy" such votes, Ryan justified them on grounds of "defensive...
  • Everything You Need to Know about Greece…Plus Remarkably Bad Poll Numbers for Obama

    07/04/2014 10:37:37 AM PDT · by Kaslin · 18 replies
    Townhall.com ^ | July 4, 2014 | Daniel J. Mitchell
    We’re going to touch on two topics today. I realize that not that many readers care about Greek economic policy, but sometimes other nations can teach us very important lessons. For better or worse. And in the case of Greece, the lesson is that government intervention and bureaucracy is an enemy of entrepreneurship. Probably the most amazing – and weird – example is that the Greek government wanted stool samples from entrepreneurs seeking to set up an online company (and, just to be clear, I’m not talking about furniture). We now have another example, but it’s seems more tragic than...
  • An Obamacare Bailout? Insurers Already Got One!

    06/26/2014 7:49:05 PM PDT · by upbeat5 · 4 replies
    CNBC.com ^ | June 26, 2014 | Jake Novack
    For ordinary consumers, the answer varies. A lot of Americans who never had insurance before have indeed been able to find health coverage AND health care, (they're two different things, after all). But a lot of Americas have lost their previous plans, and now they're having trouble finding actual doctors to treat them even under their more expensive coverage. Whether the ACA has actually helped more citizens than it's hurt has turned into a partisan war of statistics. That war will be waged for years to come. While I believe the new law will ultimately hurt more people than it...
  • Delaware Senate OKs $10M bailout for casinos

    06/26/2014 10:58:36 AM PDT · by beaversmom · 20 replies
    The Washington Post ^ | June 25, 2014
    Senate lawmakers on Wednesday approved a $10 million financial bailout for Delaware’s three gambling casinos. The Senate voted 14-5 to pass legislation to help the casinos, which say they are struggling with increased competition from neighboring states and have to share too much of their gambling revenue with the state. [...] The change would take effect in July 2015, at an estimated cost to the state of about $10 million annually. To help the casinos until then, lawmakers cobbled together a similar amount of taxpayer money, mostly from unspent funds that are supposed to be used for economic development projects....
  • Bribery, ObamaCare Style

    05/22/2014 4:39:07 AM PDT · by IBD editorial writer · 7 replies
    Investor's Business Daily ^ | 05/21/2014 | IBD Staff
    Bailouts: Last Friday, the Obama administration quietly expanded an insurance industry bailout program that it publicly insisted never existed. In exchange, Obama wants a big political favor from insurers. Last week, the administration promised insurers it would use "other sources of funding" to protect their profits "in the unlikely event" that ObamaCare costs more than expected. The language was buried in a 435-page regulatory filing that only the industry would normally care about. But it caught the eye of the Washington Examiner's Philip Klein on Friday. The bailout story got legs this week when the Los Angeles Times followed suit,...
  • Too Big to Fail?

    05/01/2014 7:52:42 AM PDT · by Academiadotorg · 5 replies
    Accuracy in Academia ^ | April 30, 2014 | Spencer Irvine
    At the Heritage Foundation, professors Charles Calomiris and Mark Flannery provided insights on the ramifications of the U.S. government’s bank bailouts after the 2007 financial crisis. Calomiris is the Henry Kaufman Professor of Financial Institutions at Columbia University’s Graduate School of Business and Flannery is the BankAmerica Eminent Scholar in Finance at the University of Florida. The major issue with Dodd-Frank, said Calomiris, was how none of these problems were adequately fixed. Regarding the promise to liquidate and not bail banks out, Calomiris said, “Unfortunately, and I think now there’s a clear consensus across the board in terms of economists...
  • Obama Didn't Invent the "Christie," He Just Uses it A Lot

    01/15/2014 3:18:30 PM PST · by Kaslin · 17 replies
    Townhall.com ^ | January 15, 2014 | John Ransom
    Another politico is claiming that he got “Christied.” This time it’s Jersey City mayor, Steven Fulop, who said that after he declined to endorse the Republican governor of New Jersey, Chris Christie, meetings with the governor were cancelled and money for hurricane relief dried up. I guess in this Alice-in-TV-Land world we live in, this counts as news. This comes on the heels of a federal investigation into Christie’s use of federal hurricane relief funds, which Obama is sure were used for nefarious purposes; presumably that means purposes that didn’t include electing Democrats. While Barack Obama didn’t invent the “Christie”...
  • Insurance-Company Bailouts: It's written into Obamacare and needs to be repealed

    01/14/2014 6:46:11 AM PST · by SeekAndFind · 37 replies
    National Review ^ | 01/14/2014 | The Editors
    Among the many legitimate criticisms of the 2008–09 Wall Street bailout was that it created a situation in which profits are private but losses are public, being borne by taxpayers who extended liberal loans and outright subsidies to various firms in order to head off total paralysis in the credit markets. Critics right and left regarded the combination of private profits and public losses as inherently objectionable — but Barack Obama and congressional Democrats apparently saw in the Wall Street bailout a model for health-insurance reform. And, surprise: Buried deep within the Affordable Care Act are not one but two...
  • Blue Cross Blue Shield: If Republicans kill a bailout for insurers, it’ll lead to single-payer

    01/11/2014 4:37:41 PM PST · by SeekAndFind · 66 replies
    Hotair ^ | 01/11/2014 | AllahPundit
    They’re nervous. “We are becoming increasingly concerned about momentum that is quickly building among some leading conservatives for elimination of the risk corridor and reinsurance programs,” [Blue Cross Blue Shield Association CEO Scott] Serota wrote…“Their efforts, along with growing support for repealing the risk corridor and reinsurance programs, could combine to create a perfect storm to, at a minimum, dissuade the Administration from modifying risk corridor program rules to provide increased funding in light of the recent ‘transitional policy’ allowing insurers to offer consumers the option to renew their 2013 health plans for 2014,” Serota wrote.In attached talking points, seemingly...
  • Krauthammer: Insurance Companies Ruined By ObamaCare Will Need a Bailout Next Year

    12/22/2013 9:22:15 AM PST · by Sub-Driver · 33 replies
    Krauthammer: Insurance Companies Ruined By ObamaCare Will Need a Bailout Next Year By Noel Sheppard Created 12/22/2013 - 12:00pm Syndicated columnist Charles Krauthammer made a dire prediction Sunday. Appearing on Fox News Sunday, Krauthammer said that all the exemptions the President has given to ObamaCare will ruin insurance companies thereby necessitating the White House to ask for a huge government bailout of these companies next year that Republicans in Congress should prevent (video follows with transcript and commentary): CHRIS WALLACE, HOST: I want to go back to this point that George was talking about, because the President in his news...
  • Barack Hussein Obama Will Be Remembered As One of Our Greatest Presidents

    12/16/2013 2:37:16 AM PST · by 2ndDivisionVet · 88 replies
    Thy Black Man ^ | December 6, 2013 | Eric L. Wattree
    I am sick to death of these so-call Black “intellectuals” spending so much time criticizing President Obama – not because I don’t feel that EVERY politician’s feet should be held to the fire, I do, but because most of the nonsense they’re spewing is pure, unmitigated, ignorance. And what makes it worse is it’s either purposeful ignorance, or ignorance due to a lazy-mindedness that could be corrected with less than ten minutes of objective research. The irony is, people like Tavis Smiley, Cornel West, the entire GOP, and a lot of other uninformed haters are severely criticizing the President, while...
  • CLASSIC: Young 'Conservative' David Brooks -Arguing for Fed Subsidies -Crushed by Milton Friedman

    11/18/2013 5:14:25 AM PST · by Reaganite Republican · 13 replies
    Reaganite Republican ^ | 18 November 2013 | Reaganite Republican
    Should higher-education be subsidized? Friedman: 'You have a case in which you are imposing taxes on relatively low-income people to confer very large benefits on upper-income people...' Brooks: 'I think as soon as you start offering people economic incentives to get educated -or to use the education that they get for economic means- in other words when you put a price-tag on knowledge, I think that you're gonna be... Friedman: 'What are you talking about? You mean to say that the graduates of colleges and universities don't use their capacities in a direction influenced by the money they can earn...?...
  • If Obamacare fails, taxpayers get to bail out the insurers

    11/06/2013 6:17:05 PM PST · by 2ndDivisionVet · 28 replies
    The Washington Examiner ^ | October 26, 2013 | David Freddoso
    Obamacare's federal website is a mess, creating massive obstacles to enrollment in the law's health insurance exchange plans. Those taking President Obama's advice to apply by phone or by mail will fare little better, as their information must still be fed through the same glitchy computer system that is holding up everyone else. The website isn't the only problem, as things are only slightly better in the states that run their own websites. In Kentucky, less than 20 percent of the newly insured (or 4,832) have actually purchased plans – the rest will enter the taxpayer-funded Medicaid program. In Maryland,...
  • Now we find out what’s in it: Obamacare’s taxpayer bailout for health insurers

    10/26/2013 9:06:48 AM PDT · by The Old Hoosier · 12 replies
    Conservative Intel ^ | 10/26/13 | David Freddoso
    The short version? Obamacare contains a partial bailout for insurers with losses greater than 3 percent in any of the first three years...
  • Pension criticism=racism. Aaauugghh! Aaauugghh! Aaauugghh!

    08/19/2013 9:06:29 AM PDT · by Rusty0604 · 10 replies
    Cal Watchdog ^ | 08/14/2013 | Chris Reed
    when it comes to public employee benefits and the damage they wreak on local governments, scoundrels have another refuge: blaming racism for concerns about lavish, unaffordable benefits and broken governments. ”Public-sector workers are disproportionately black. In 2011, about 19 percent of black workers were employed by the government, compared with 14 percent of whites and 10 percent of Hispanics. The upshot is pretty clear: Reducing the value of public pensions and other benefits wouldn’t just hurt blacks disproportionately; it would do so at a time when other economic trends have already hurt them more than most. So the question isn’t...
  • Republicans have no clue how businesses work (Liberalism IS a Psychosis)

    08/09/2013 11:50:36 AM PDT · by pabianice · 5 replies
    salon | 8/9/13 | McElwee
    Link only.
  • Dems Favor Federal Bailout of Detroit, But Majority of Public Opposed [ CA will be bailed out too ]

    08/02/2013 9:06:24 PM PDT · by NoLibZone · 22 replies
    realclearpolitics.com ^ | 8-2-13 | By Tom Bevan
    A new national poll from Quinnipiac University shows that a majority Democrats believe the federal government should bail out Detroit, but an even larger majority of Americans oppose such a move. Fifty-one percent of Democrats support Washington providing federal assistance to Detroit, which last month became the largest American city ever to seek bankruptcy protection. Not surprisingly, there is a strong partisan divide on the question of a federal bailout for the Motor City. Seventy-three percent of Republicans oppose a bailout, while only 18 percent support the idea. Independents are nearly of the same mind as Republicans on the issue:...
  • ObamaCare Bailout? Detroit reportedly eyes health care law to cut costs

    07/29/2013 12:35:49 PM PDT · by Jim Robinson · 21 replies
    FOX News ^ | July 29, 2013
    Detroit could be looking to ObamaCare for a bailout as city leaders try to cut back on retiree health costs as they enter bankruptcy proceedings. The New York Times reported Monday that the city is proposing a plan aimed at reducing its $5.7 billion in outstanding retiree health costs. In short, they want to take those retirees too young to qualify for Medicare and send them into the ObamaCare insurance markets -- which are scheduled to launch next year. Doing so would ease the burden on the Detroit coffers by taking them off city coverage. But it would inevitably increase...
  • If You Weren’t Outraged by GM Bailout, You Will Be Now

    06/30/2013 12:05:28 PM PDT · by Red Statements · 19 replies
    RedStatements.co ^ | June 29th, 2013 | Steven H Ahle
    Before I tell you of all the new developments at government motors, I’d like to inform you of the true cost of the GM bailout. The “official” tally is ten billion, but the actual total cost to taxpayers is over 50 billion dollars. GM has a market cap (Net worth) of 28 billion. The paybacks we received from GM are the true, but kind. Read this for the true costs.
  • Making The Most Of Borrowed Time

    06/23/2013 12:43:52 PM PDT · by blam · 3 replies
    Bank Of International Settlements ^ | 6-23-2013 | Jaime Caruana
    Making The Most Of Borrowed Time (Central Banks Have Had Enough?)Jaime Caruana, General Manager of the BIS on the occasion of the Bank’s Annual General Meeting in Basel on 23 June 2013Good afternoon, ladies and gentlemen. Since the beginning of the financial crisis almost six years ago, central banks and fiscal authorities have supported the global economy with unprecedented measures. Policy rates have been kept near zero in the largest advanced economies. Central bank balance sheets have doubled from $10 trillion to more than $20 trillion. And fiscal authorities almost everywhere have been piling up debt, which has risen by...
  • Were Republican-owned GM dealerships targeted for closure in 2010? (Video)

    05/17/2013 6:04:41 PM PDT · by Perdogg · 45 replies
    Two members of Congress are asking if the Treasury Department disproportionately targeted more Republican or conservative owned auto dealerships during the government-lead restructuring of General Motors in 2009. Breitbart.com reported today that Mike Kelly (R-PA) and Jim Renacci (R-OH) released a letter asking Treasury Secretary Jack Lew to release documents regarding the process and methodology that determined which GM dealerships were closed.
  • Fisker Failure was Easy to See Coming

    04/24/2013 7:50:14 AM PDT · by jazusamo · 12 replies
    NLPC ^ | April 24, 2013 | Mark Modica
    While hindsight may always be 20/20, foresight should be pretty clear in many instances as well. The Fisker failure was one of these times. Many saw the folly in spending hundreds of millions of taxpayer dollars to support the green debacle. In fact, the Associated Press has reported that even the Obama Administration had warning of the Fisker loan risks back in April of 2010 when the Energy Department began emailing their concerns. Congress will be holding hearings starting today to address the scandalous waste of taxpayer money on Fisker. Reuters states one of the goals of the hearing, "'The...
  • Don't Worry About Cyprus, It Already Happened Here

    03/19/2013 1:35:58 PM PDT · by Kaslin · 10 replies
    Townhall.com ^ | March 19, 2013 | Bill Tatro
    I can just imagine Jay Leno taking to the streets in order to ask the average American citizen, “What do you think about Cyprus?” More than likely, the answer would be, “I really prefer oak or maple for my flooring, I never really thought about cypress.”  Jay would reply with, “No, the country Cyprus.  The IMF, EU, and ECB, the “troika,” just put a tax on bank accounts.  Well, no.  Actually, they just stole a portion and froze the rest of the money in spite of the increased guarantees.”  The average American would then respond, “There’s a country named Cyprus? ...
  • Everything you need to know about banking, bailouts, and Cyprus

    03/18/2013 4:34:29 PM PDT · by Ernest_at_the_Beach · 15 replies
    blogs.marketwatch.com/cody ^ | March 18, 2013, 2:04 PM | Commentary By Cody Willard
    Good morning and welcome back to the land of anarchy where contracts and guarantees don’t mean anything anymore. Over the weekend, as I’m sure you’ve already heard, Cyprus and the EU and the IMF (and the U.S. Treasury which is part of the official decision-making body at the IMF) all decided that it was in society’s best interests to confiscate the money in people’s checking and savings accounts. Not all of it, at least not yet.But as there’s a ton of confusion and misdirection about what this latest round of theft of private capital and descent into anarchy really is,...
  • Big Hollywood Bailout: Taxpayers Spent Nearly $40 Million To Subsidize Disney's 'Oz'

    03/14/2013 8:22:00 AM PDT · by MichCapCon · 21 replies
    Michigan Capitol Confidential ^ | 3/11/2013 | Tom Gantert
    In 2010, Michigan had an annual unemployment rate of 12.5 percent. Then-Gov. Jennifer Granholm told lawmakers to expect a $1.58 billion deficit in the following year and to expect a $263 per pupil cut for K-12 education. Yet, the state played a part in allowing one of the most lucrative companies in the world to post a record $4.8 billion in profits by handing it nearly $40 million in film tax credits. That was the year Disney made the movie, "Oz: The Great and Powerful," and received $39.7 million of the $75.2 million the state of Michigan handed out to...