More info on Cerberus

    Last June, Cerberus sold more than half of Chrysler and significantly cut its investment in GMAC in order to “lower its risk”. Cerberus seems desperate to get rid of Chrysler.  It’s talking to everyone willing to listen to take it off its hands.  Hyundai looks like a potential “strategic partner”.  So, vote no on the bailout.  It won’t mean the end of the world for | Read More »

    Senate Debate NOW on Car Bailout

    So apparently they are thinking that maybe a Senate vote on this can happen tonight.  They are in the middle of a quorum call.  Dingy Harry spoke earlier and urged a bailout.  He said that times are tough and that Congress shouldn’t “pile on” by not approving a bailout.  What a load of crock.  Congress had no problem “piling on” with onerous regulations and taxes | Read More »

    Bailing Out the Buses, Too

    Here is yet one more reason to say no to bailouts: Democrats also inserted a provision in the bill to bail out some of the nation’s largest transit systems. The bus and rail systems could be on the hook for billions of dollars in payments because exotic deals they entered into with investors — which have since been declared unlawful — have gone sour with | Read More »

    Stopping Bailout Madness

    We shouldn’t be bailing out anyone, period, end of story.  This is a capitalist nation for heaven’s sake, with both risks and rewards.  Take away the risks and you increase the risky behavior until everyone is behaving irrationally.  So what can we do to stop the bailout madness?  The polls are against bailouts but Congress still approves them anyway.  Evidently advocating for lower taxes doesn’t work to | Read More »


    The Universe Shares Our Pain

    We are not alone in our sadness.

    Shades of ’93

    On a night like tonight, I cannot help but reflect upon my experiences in the summer of 1993. It was at this time that I was an undergraduate living in Pittsburgh, spending my first summer away from home. Bill Clinton had just been elected the previous year, with a sizable Democratic majority in Congress. The honeymoon hadn’t yet worn off from his presidency, and the | Read More »

    Trying to stay hopeful…

    I really am trying to remain hopeful that Obama will stay out of the White House. But, in truth, it’s looking more and more likely that he will win. And that the Senate will have 60 D’s – or at least 59 D’s and a RINO who will promptly switch parties in exchange for a committee chairmanship. And that the House will have a solid | Read More »

    Could this be why the credit markets are screwed up?

    I am no financial wizard, so let me just throw this suggestion out there. Perhaps this is the reason why the credit markets are screwed up and the LIBOR is so high:,2933,435524,00.html Why borrow from each other when you can borrow from Ben Bernanke instead, with far lower risk, and maybe even a chance that the government will forgive your debt at some point | Read More »

    Election Advice from a Therapist

    Up until a couple of weeks ago, I was feeling pretty good about McCain’s chances. He was doing pretty well in the important battleground states, Palinmania was still sweeping the nation, and Obama couldn’t seem to find his legendary voice. I was beginning to think that, perhaps, despite all the naysaying and the gloom-and-doom about Republicans’ chances this year, McCain is the guy who can | Read More »

    Bailout Bill Blues

    From my perspective the essence of the bailout bill can be summarized as follows: We want government to “help” us, where “us” is defined as hardworking average Joe American, and of course not greedy Wall Street bankers. And hence the final death knell of fiscal conservative/libertarian thinking of the role of government. The fiscal conservative/libertarians among us don’t want government “help” because we know that | Read More »