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Browsing Category
Political Economy
Bush: ever the opportunist, lifts oil drilling ban
George W. Bush certainly has chutzpah. Ever the opportunist, he has taken advantage of high oil prices to lift the ban on offshore oil drilling. Americans continue to allow this President free reign and Congress as allowed him creeping…
Paulson Sunday Statement on Fannie and Freddie
From Bloomberg:Paulson Statement on Freddie Mac, Fannie Mae: Full Text July 13 (Bloomberg) -- Following is the text of a statement issued today by Treasury Secretary Henry Paulson:…
Fannie, Freddie to get $15 Billion from U.S. government
The Times of London is reporting that Treasury Secretary Paulson is looking to infuse Fannie and Freddie with $15 billion to help alleviate market turmoil. However they cite no sources in doing so.Moreover, the $75 billion offered by…
Obama is pro-Death Penalty
Obama in his move to the center is increasingly alienating social Liberals/fiscal Conservatives like myself. He is either pandering to social conservatives or he actually believesthis stuff or both. The latest move that demonstrates his…
Federal takeover of GSEs now in the works
As I said in an earlier post, taking over Fannie and Freddie has been the plan all along for the Bush Administration. They have been planning this since at least March. Coincidentally, I have confirming evidence now. The New York Times…
Is the Fannie-Freddie debacle the result of a backroom deal?
Everyone should recall that Fannie Mae and Freddie Mac were forced to massively increase their already bloated balance sheet in the aftermath of the Bear Stearns collapse. It seems reasonable to me to assume that the two organizations did…
Chrysler building: is the Middle East the new Japan?
If you haven't heard yet, you will soon. The Chrysler Building was snapped up by the Abu Dhabi Investment Council (otherwise known as the government of a foreign country). With the U.S. still sporting a current account deficit over 5% of…
Did joining the eurozone bust Ireland?
As I have said in prior posts, I am a bit of a eurosceptic. It is my view that the Euro is a political construct just as the expanded European Union has been and just as the reunification of East and West Germany on a 1 for 1 currency basis…
Obama confounds civil libertarians
Count me in the crowd of Civil Libertarians who are perplexed by Barack Obama's move to the center and rejection of basic civil liberties. He has come out in favor of a bill on wiretapping proposed by the Bush Administration that gives…
Windfall profits: ‘Robin Hood’ Berlusconi to the rescue
The Globe & Mail (via AP) has reported that the first shot across the bow for Big Oil has been delivered by the new Italian Prime Minister Silvio Berlusconi. With oil prices surging and inflation at very elevated levels around the…