Archives for posts tagged ‘secretary of the treasury’

Bailouts for everyone, grandchildren will pay

The supply of “help” from Washington D.C. is apparently endless. Since American car manufacturers aren’t able to be globally competitive and are therefore losing money, let’s just make more up and hand it to them.
WASHINGTON (Reuters) – There were fresh calls on Sunday for the Bush administration to help stalled U.S. automakers, but Democratic [...]

The cost of government irresponsibility

The biggest taxpayer bailout in the history of the United States is inevitable.
The inevitability of a taxpayer-funded bailout of Freddie Mac and Fannie Mae, the hobbled mortgage behemoths, shook investors last week, and shares in both companies plummeted on fears that existing stockholders would be wiped out.
These government-sponsored entities guarantee or hold $5.2 trillion in [...]