Fed Losing $9.6 Billion in AIG, Bear Stearns
As of Dec. 31, the Federal Reserve faces $9.6 billion in unrealized losses on $74 billion in assets from Bear Stearns and AIG. An…
Dear AIG,
"It is with deep regret that I submit my notice of resignation from A.I.G. Financial Products." The New York Times on Tuesday ran an op-ed entitled "Dear A.I.G.,…
Geithner calls for creation of government protection racket
In one of the most brazen, unconstitutional power grabs in American history, Secretary of the Treasury Tim Geithner went before Congress on Tuesday to ask for broad powers to seize…
Ron Paul: Bankruptcy is Economic Stimulus
Here is an interesting column written by Congressman Ron Paul (TX-14), making an extremely interesting case for the necessity of an AIG bankruptcy. Bankruptcy was the…
Jared Polis, in context, warns businesses against getting too close to government
[Update: At about 6:50 of THIS VIDEO CLIP, economist Arthur Laffer praises Jared Polis’ remarks made in the House of Representatives.]…
The AIG tax bill’s possible benefits
In a fit of economic idiocy driven by misdirected populist outrage, the House of Representatives passed H.R. 1586 on Thursday afternoon, subjecting to a 90% tax rate…
Our very own Wesley Mouch
In Atlas Shrugged, one of the main villains is Wesley Mouch, who is described in the Wikipedia entry on the book’s characters as “Initially Wesley Mouch is…
AIG: “A Mistake at the beginning”
The media and political furor of the week is the employee bonuses paid by AIG under contracts that existed prior to the government’s effective takeover of the company. And while…
Congress Angry about Irresponsible Use of Taxpayer Dollars
David Harsanyi of the Denver Post has written an amazing article on Congressional outrage over AIG bonuses. "Here's an idea: If you stop nationalizing…