Hearken back to a couple of weeks ago, when I noted how MO Sec’y of State Robin Carnahan has attempted to use TARP as a way to smear MO Congressman Roy Blunt. Blunt and Carnahan are seeking the U.S. Senate seat being vacated by Missouri’s Sen. Kit Bond. One of the sources for that post, an article from the Sedalia (MO) Democrat, noted that Ms. | Read More »
Things looked very grim for the financial markets in 2008. Things were occurring very rapidly and few really understood what was going on during those weeks (here is a reminder of the turmoil that went on during that period) I saw a number of articles and emails that indicated that there could be a massive collapse of financial institutions that made the 1929 Black Tuesday, | Read More »
On Tuesday, James Bopp Jr., RNC vice-chairman, submitted a resolution to the RNC that labels the recent “bailouts” of the finance industry and the Big 3 as “socialism”. This is a bit different for the RNC, as the organization normally does not involve itself in policy-oriented activity (past establishing the party platform). Fox news reports: The statement says the rescue packages are “moving our free-market | Read More »
According to this morning’s news, banks are refusing to reveal what’s being done with the money that was provided under the $350B (so far) TARP bailout money. “We’ve lent some of it. We’ve not lent some of it. We’ve not given any accounting of, ‘Here’s how we’re doing it,’” said Thomas Kelly, a spokesman for JPMorgan Chase, which received $25 billion in emergency bailout money. | Read More »
Looks like taking money from the TARP fund to support an auto bailout isn’t as much of a slam-dunk as it appeared yesterday. It’s being reported this evening that the WH isn’t quite ready to pull the trigger on a bailout. From Reuters: President George W. Bush said on Monday an announcement on a auto industry rescue was not imminent, leaving the industry’s fate clouded | Read More »
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