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Category Archives: Securities Law
$13 Trillion and Counting
Wednesday, May 20, 2009
The price tag for the Wall Street bailout is about $13 trillion!
Obama’s Budget: Criminally Insane
Tuesday, March 3, 2009
The President’s new budget for 2010 is obscene. Half of it will be borrowed money, and an unconscionable amount of money is about to be wasted on violence and on socializing private losses of shareholders and bondholders. It’s a disaster.
Good Money After Bad
Saturday, January 17, 2009
Everybody agrees that the banking system is in trouble. The incoming Obama team and some European governments want to take toxic assets off of private bank balance sheets. This will be incredibly expensive and there’s no reason to think it has much chance of success.
There’s no reason to save a corrupt, failed system. The big [...]
A Bridge Loan to Nowhere
Friday, December 19, 2008
Today the President announced a $17.4 billion “loan” to the US automobile industry. Not only is this a cruelly cynical move, it’s both bad business and bad government.
Hundreds of thousands of workers are going to be put out of work. They deserve help from the government to move into more useful, viable industries. Read about [...]
No Bad Deed Goes Unrewarded
Saturday, December 13, 2008
It’s amazing that we’re debating whether or not to bail out the US car companies. They’re insolvent! They’ve got to reorganize, pursuant to the bankruptcy laws. Any other approach rewards unsuccessful managers. Both the Democrats and Republicans were prepared to bail out management teams that have failed in the free market. The only difference is [...]
Obama: Corporate Militarist
Tuesday, December 2, 2008
Meet the new boss, same as the old boss.
Hope is one of the most powerful drugs, but it’s no substitute for progressive change. Our new President is dedicated to preserving a corrupt system. The US military is deploying in the USA. The government is going to bail out creditors instead of debtors. Get ready for [...]
The $8.5 Trillion Suicide Note
Friday, November 28, 2008
The incoming Obama administration agrees with Bush that we should bail out the lenders instead of the borrowers.
It isn’t going to end well.
Economic Sanity from the FDIC
Sunday, October 26, 2008
The Federal Deposit Insurance Corporation (FDIC) wasn’t in the public eye until the banks started to fail. Sheila Bair is the Chair of the FDIC. She was appointed by President Bush, but don’t hold it against her. Ms Bair is a Republican who believes the FDIC should be a consumer protection agency. She has fought [...]