Let GM Fail
Throwing taxpayers' good money into that sink hole called the US auto industry will be tantamount to a transfer of wealth from tax payers to GM employees.
HuffPost's QuickRead
Free Fall
The time to get started has already passed, as the downturn is accelerating. Tomorrow, as Senate Majority leader Harry Reid suggests, Congress should pass a $100 billion down payment on recovery, while instructing the Treasury Secretary to use some of the $700 billion rescue fund to help keep the auto industry from going belly up, with devastating effects throughout the Midwest. But, as this is written, it looks like that won't happen. Republicans didn't get the message from the election, and apparently don't read the financial section of the papers.
America: Get Your Financial Act Together
It would be as irrational to allow the Ayatollahs to build bombs as it would be to allow Wall Streeters to run amok again building their weapons of financial mass destruction.
Journalist to GOP: You're 100 Percent Wrong About U.S. Automakers
"People who say the U.S. doesn't innovate are woefully out of touch with Detroit's standing in this business."
Obama-cession
This coming January 20 a record breaking four million people will attend his inauguration. This is especially amazing since Barack Obama is responsible for the recession? Aghast, didn't you hear!
Risking Our Best Talent
It's a common adage in my world that A players hire A players and B players hire B and C players. Talent is everything.
Botching the Bailout
The Bush administration is squandering hundreds of billions of dollars on incompetence again -- the whole thing is beginning to look a little too much like Iraq.
How Obama Can Clean Up the Mess
The debt rose as high as 120% of GNP during the New Deal. And, furthermore, that led to the most prosperous two decades in US history.
Opening Day: Baseball Business Begins Again
While sports fans fill their days with football, basketball and hockey, the aficionados of the business of sports will keep an eye on the real game, the game in the boardrooms and at the negotiating tables.
The Big Heist
If we are to believe this story taxpayers were forced to give away hundreds of billions of dollars to banks that actually weren't experiencing nearly the credit crisis they and our government officials claimed.
President-Elect Obama's First Big Mistake
Obama's economic advisory team looks more like a semester's worth of guest speakers for an MBA class than a team that can truly help him. Entrepreneurs will lead us out of this mess. Talk to them.
While Paulson Waffles, the White House Dawdles, and Congress Dithers, the Economy Continues to Burn.
So, $290 billion into his bailout plan, Hank Paulson is calling for a do-over. Now there is a confidence booster -- it shows just how uncertain Washington is about how to keep the economy from imploding.
Four Words Obama Will Never Say
Americans must hope that the Obama administration is honest with the people and makes some difficult choices early in his tenure to deal with our growing annual deficits and long term debt.
President-Elect Obama: How You Can Fix the Economy
I don't like deficit spending in any way at any time. It is an extremely dangerous precedent to set. However, there are times when it is required. And now is such a time.
Audit the Books!!!
The first thing Obama should do to get the economy back on track is publicize the financial record of the Bush Administration. Every business knows that "if you can't measure it, you can't manage it."
What the Hell is Paulson Thinking???
Paulson now says that the administration will not, after all, use any of the $700 billion to purchase asset-based securities. At this point it seems salient to ask, what the hell is going on?
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Paulson Remains Opposed To Using Bailout For Automakers
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Paulson is doing nothing but following the Bush and Republican marching orders to destroy the unions. If he can force GM to knuckle under then it will set the labor movement back 50 years.
Screw Paulson. We"ve given up nearly every manufacturing facility we built over the past 100 years so that the Chinese can build our products for us with unsafe materials and artificially cheap labor. We cannot give the auto industry to the Japanese and Europeans (and eventually the Chinese), despite horrific management by the Big Three.
We want energy independence. We need the American automotive industry. So this is what we do. The U.S. government (you and me) take $300 billion of our money and tell Detroit what we want. We want an affordable oil-independent fleet of cars within three years. Electrics with 300 mile range or on-the-fly hydrogen or both (both are within reach). If they don"t deliver, they owe the American people that debt load due within 15 years. If they do delivery, the American people shoulder their current legacy costs from that point forward.
This is a horrific mess. Let"s use it to our advantage.
This whole thing is a farce. The money was supposed to supply funds
for loans. We got exactly nothing. But thankfully AIG got two junkets,
sales meetings I think they were called, with $400 dinners and executive
perks. And then they come back with hands open.
Asking the Senate and Congress to really consider the motives behind
this bailout was a waste of time, because Paulson and Bernake warned
of horrible consequences.
Who is responsible for taking money from the Social Security fund?
When do our do-nothing elected reps decide we count for some real
help too?