We all know by now that the House of Representatives rejected HR 3997, the $700 billion, poorly constructed Emergency Economic Stabilization Act of 2008. Let’s be clear. This bill was a disaster. Nearly every member of Congress that I heard speak during debate today agreed that the bill was a not what [...]
Lost in this weekend’s news about the $700 billion bailout package for the banking industry was a $25 billion loan package for United States auto manufacturers. This package comes at a time when apparently Congress and the President believe that the American people will see $25 billion as a pittance compared to the $700 billion [...]
Lost in this weekend’s news about the $700 billion bailout package for the banking industry was a $25 billion loan package for United States auto manufacturers. This package comes at a time when apparently Congress and the President believe that the American people will see $25 billion as a pittance compared to the $700 billion [...]
Today was a bad day for trying to reach consensus on the mortgage bailout thanks to House Republicans trying to remember what fiscal conservatism means. After eight years of writing checks to fund anything and everything the Bush Administration sought, these members of Congress remembered they must stand for re-election on November 4th. Apparently, [...]
Today was a bad day for trying to reach consensus on the mortgage bailout thanks to House Republicans trying to remember what fiscal conservatism means. After eight years of writing checks to fund anything and everything the Bush Administration sought, these members of Congress remembered they must stand for re-election on November 4th. Apparently, [...]
Treasury Secretary Paulson and Federal Reserve Chairman Ben Bernanke faced intense scrutiny over their proposed $700B bank bailout today on Capitol Hill (and rightfully so). Let’s take a look at the facts:
Paulson presented a 3 page plan that would give the Treasury a blank-check (ok, [...]