Called to the principal’s office
Politico.com is reporting that Citigroup’s future chairman Richard Parsons arrived at the White House within the last half hour or so for a meeting with Valerie Jarrett.
Will the American taxpayer own a share of Citi by tomorrow?
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Obama out of touch
about 6 months ago - No comments
And even while he says he gets it, the president doesn’t realize how out of touch he is: “If there’s one thing that I regret this year is that we were so busy just getting stuff done and dealing with the immediate crises that were in front of us that I think we lost some
No thaw
about 6 months ago - 3 comments
A snapshot from the heartland: a funny thing happened on the way to the building site: According to [Shelbyville, Indiana city building commission] records, only 115 building permits were issued by the city last year. That is almost half the number issued the year before and a third of the total issued in 2005, two
History repeats: Obama = Hoover
about 7 months ago - No comments
From the Mises Economics Blog: “My main message in today’s meeting was very simple: that America’s banks received extraordinary assistance from American taxpayers to rebuild their industry and now that they’re back on their feet, we expect an extraordinary commitment from them to help rebuild our economy,” President Obama said after the meeting. In the
This explains a lot
about 8 months ago - No comments
Since over 80% of Americans work in the private sector, how is it that President Obama found so few with private sector experience worth appointing to key economic Cabinet posts?
Shock (not): We won’t get back the money we gave Chrysler and GM
about 8 months ago - No comments
This is why Americans were so opposed to the bailout: Taxpayers are unlikely to recover their full investment in General Motors or Chrysler, government investigators said Monday in the latest review to cast doubts that the government will recoup the $80 billion it poured into the two automakers. [...] GM would need a market capitalization,
Damned if you do
about 9 months ago - 1 comment
Last night on P.I.D. Radio, Sharon and I discussed the move by Citi last week to raise interest rates on its credit card holders, even those with perfect payment records, to 29.99%. It looks like Citi is not alone in extorting squeezing more from its customers: Loraine Mullen-Kress carries a Bank of America credit card
Voting ourselves into insolvency
about 9 months ago - 1 comment
America’s middle class is getting what it’s voted for over the last fifty years — government entitlements so burdensome that they’ll drag the entire country into bankruptcy within a generation: [C]onsider that in 1970 — just a few years after Medicare’s enactment — the defense budget stood at 8.1% of the nation’s economic output, as
Your bank is broke
about 10 months ago - No comments
Losses from homes that will go into foreclosure will be around $870 billion. The FDIC has a negative balance and hopes to raise $45 billion by collecting three years worth of assessments in advance. 870 > 45.
The permanent bank bailout
about 10 months ago - No comments
Rep. Brad Sherman (D-Calif.), a CPA by trade, doesn’t like what he sees in the administration’s financial services reform bill. President Obama, to “reform” the system, actually proposes giving more money to Wall Street with less oversight than under the plan proposed by the Bush administration.
US going Third World
about 10 months ago - No comments
A Nobel laureate agrees with a new study suggesting that Barack Obama’s “stimulus” plan risks turning the United States into a Third World country
