GM thanks taxpayers for forced bailout.
I would have let you collapse, GM. So there’s no need to thank me for your government seizure. My no doubt naive belief in basic capitalism precludes me from fully appreciating said thanks; or, indeed, appreciating them at all. How much of MY tax money went into making this self-congratulatory paean to Italian-style fascism, by the way? Whatever it was, it was too much. Moe | Read More »
White House to bailout underwater mortgages?
Today’s hot rumor comes from James Pethokoukis: essentially, the White House (which is becoming increasingly frantic about the way that their Super Magical Unicorn Genius economic plans aren’t working) is scheming to partially bail out people with underwater mortgages. I know, I know: the government was not supposed to acquire Fannie/Freddie just to completely rewrite their balance sheets, but the existing scheme to let the | Read More »
GM’s environmental quid pro quo.
(H/T: Instapundit) I am honestly surprised to find that there are people surprised by this. Among those clamoring for attention and payouts from Motors Liquidation Co., the company that assumed General Motors’ unwanted assets after its Chapter 11 filing, are the environmental and economic redevelopment departments of state governments. According to reports, when GM exited bankruptcy, its polluted factory and land sites were consumed by | Read More »
Gov. Paterson (D-NY): AIG Contribution not related to AIG rescue.
Good thing that he cleared that up: AIG’s $100G donation to Democrats was unknown to Gov. Paterson, he says Gov. Paterson stuck to his guns Saturday, insisting he knew nothing about a $100,000 donation from AIG to the state Democratic Party days before his office helped save the insurance giant. State Republicans charged the Democrats with stonewalling an investigation into the Aug. 29 donation, uncovered | Read More »
AIG To Sue Federal Government.
(Via AoSHQ) I have a suggestion for the Federal government. Find whoever it is that made this decision: In Twist, AIG Sues Its Benefactor Over Taxes In the midst of its negotiation with the federal government over revised terms of its bailout, American International Group Inc. sued the U.S. on Friday over a disputed $306 million in taxes, interest and penalties. The suit steps up | Read More »
I wish that I could say “Funny, I don’t recall Washington Post writers being this sloppy.”
In the process of implying that 55% of the population are lunatics, Eugene Robinson takes the time to demonstrate that his grasp of the bailout situation is only “matched” by that of his editors: Funny, I don’t recall a cry from Senate Republicans for salary caps on the stockbrokers whose jobs were saved in the Wall Street bailout… As Iain Murray helpfully notes, Robinson’s conveniently | Read More »
The Saturday Night Live Bailout Clip.
Because Allahpundit’s right: there’s an audience for a full and frank discussion on this one. But, hey: keep the focus on this. Make McCain, Palin, and the rest of us reluctantly talk about how your Party got us into this mess, and how your instinctual first reaction to encountering a disgraced Fannie/Freddie executive is apparently to offer him or her a job. We don’t mind. | Read More »
Horrendous bipartisan legislation FTW!
[Another UPDATE]: Thank you for reminding me, Swamp_Yankee. YOU MAY NOW START REMINDING THE AMERICAN PEOPLE ABOUT HOW THE DEMOCRATS GOT US INTO THIS MESS IN THE FIRST PLACE, SENATOR MCCAIN. [UPDATE]: The final score was 263-171, and I have no idea who bailed. 172-63 Democrats, 91-108 Republicans. Took you people long enough. I’ll add stuff as it appears, but it looks like it passed, | Read More »
Bill Sammon on Fox News: Reid “patently false.”
Carl Cameron likewise unloads after the fold. By the way, here is what nobody really wants to talk about, but everyone involved is well aware of.
McCain back on campaigning, will debate tonight.
He’s resuming campaigning. And there’s this (Via Hot Air Headlines): ABC News’ Jonathan Karl Reports: John McCain made an urgent appeal to House Republicans at their 9:30 leadership meeting Friday morning. A senior House GOP leadership aide involved in the negotiations described McCain’s message this way, “We need a deal. We need a deal. We need a deal.” [snip about how the debate is a | Read More »
Breaking: Bailout Deal tentatively agreed upon. [Or not. Or maybe.]
More details as we get them, obviously. Lawmakers: Financial bailout agreement reached WASHINGTON (AP) – Warned that time was running short to bolster the distressed economy, congressional Republicans and Democrats reported agreement in principle Thursday on a $700 billion bailout of the financial industry, and said they would present it to the Bush administration in hopes of a vote within days.
Breaking news: McCain *summoned* by Sec. Paulson?
Video here, and I’m looking for an embed [Got it!], but here’s the transcript: I am told, Maggie, that the way McCain got involved in this in the first place, the Treasury Secretary was briefing Republicans in the House yesterday, the Republican conference, asked how many were ready to support the bailout plan. Only four of them held up their hands. Paulson then called, according | Read More »