Government

So PPIP, one of the largest wealth redistribution upwards in the history of our planet (second only to TARP and ahead of TALF...but then where does Fed setting rates below the market for banks fit it?...I digress) is a go after all. U.S. Treasury May Tap Eight to 10 PPIP Asset Managers This Week - Bloomberg You should be sickened, angered and ready to fight the ... read more

The Democrats like to say they're for helping poor people get a level playing field and perhaps even a leg up. The Republicans like to say that they're for preserving your rights and perhaps even honoring the Constitution (though it's a little bit radical among the Republicans to actually use the C-word). Tell me why then, the Democrats want to punish the renters and other non-ownership-class ... read more

Last night on America's Nightly Scoreboard with my mentor David Asman, I put up the following graphic on the telestrator and went all John Madden on it: The upshot is this -- we've spent more than $10 Trillion protecting people who were rich enough but stupid enough to risk their own money: 1. owning bank stocks that have the rights to profits from the banks, 2. buying worthless real ... read more

Can someone tell me what the government’s definition of “Financial Institution” is? U.S. Seeks Expanded Power to Seize Firms Goal Is to Limit Risk to Broader Economy The Obama administration is considering asking Congress to give the Treasury secretary unprecedented powers to initiate the seizure of non-bank financial companies, such as large insurers, investment firms and hedge ... read more

I mean...the Republicans can't be serious about pretending they care about deficits and dollar responsiblity now, can they? Sen. Gregg says Obama budget will bankrupt US 1 day ago WASHINGTON (AP) — The top Republican on the Senate Budget Committee says the Obama administration is on the right course to save the nation's financial system. But Sen. Judd Gregg of New Hampshire also says ... read more

Long-time and even new readers know that I've been bearish and have taken my price range on the DJIA from 7k-9500 down to 6k-8k. Well, the good news is that we're closer to the bottom part of that trading range right now. I am not going to call a bottom today. Or ever, frankly. I don't even like the idea of trying to "catch the bottom" of the market. And for years when I used to write a ... read more

I can't believe the entire financial system is being run by this dude Timothy Geithner. Don't these almost back-to-back completely contradictory statements that he gave NPR last night absolutely underscore why the worthless bureaucrats at the Treasury and the crony regulators that pay them off will NEVER EVER fix the system UNTIL THEY GET OUT OF IT? NPR: Now, I would think a fair number of ... read more

The "Illuminati" isn't some sort of secret organization running around in pyramid-emblazoned robes -- but it does exist and what I mean by that is that there are people running big business and government who are all in cohoots together (often without even meaning to be, I hope) to use the government and its laws and policies and monopoly on the use of legal violence to redistribute wealth from ... read more

Yeah, how about that...turns out the index that measures the stock performance of all those companies that are getting welfare from the Republican/Democrat Socialist Regime aren't exactly finding it to be the rememedy they expected... Indeed -- corporate welfare destroys profits and profits drive stocks and therefore corporate welfare makes stocks go down. Nothing like a little direct, ... read more

I don't know where to start -- the continued nationalization that they say isn't really nationalization of our the businesses and banks that the government allowed to consolidate into behemoths which they say are now so big that their shareholders are a better use of welfare dollars in this society than feeding hungry children. I guess there are three main points in that convoluted sentence I just ... read more