Tag Archives: Bailout

We the Capitalists? The Right Rediscovers the Rule of Law, Eight or Eighty Years Too Late

Across the conservative side of the internets – the part that looks more like a dumptruck, and less like a series of tubes – you’ll see frequently corny, and always flamboyant homages to the Constitution. Or, what they think is the Constitution. These expressions are remarkable as much for their spontaneity (where were these “scholars” […]

Detroit Finishes Its Term Paper, Plus: Nationalizing Banks

Part 1. Today, GM and Chrysler are filing their respective detailed plans for continued restructuring, what they have done with the $14 billion they received late last year, and how things have been looking for them recently. No offense to Chrysler, but let’s face it: This is really about GM. According to NYT, GM and […]

Confluence Needs to Learn Law. And Discretion. And SO Much More.

Also how to deal with grief. In a recent post, Confluence’s resident thirteen year old “takes Obama to task” for failing to make retroactive his provision capping executive pay for companies receiving bailout money. The operative sections below: That little detail [about non-retroactivity] makes the proposed compensation cap about as effective as a morning-after condom. […]

We’ve Got a Negotiation, Just Don’t Use the B-Word

This week the leadership of the Big Three headed back to D.C. in a car caravan (vs. the previous corporate-jet fiasco) and promised to take $1 salaries and forgo bonuses in 2009. The cloying symbolic gestures did make me throw up in my mouth, but the substance of Thursday’s Congressional hearings leads me to believe […]

Ribbit! Rescuing the Big Three (RBT)

The RBT public relations war is a typical drama-producing affair of either/or … Either there is a cash bailout or there is bankruptcy. If there is a cash bailout: How much cash? When will it end? If there is bankruptcy: Liquidation! Decimation of jobs and related industry worldwide! As a taxpayer, it’s difficult to know […]

Looks Like Paulson’s Got Some ‘Splainin’ To Do

Far be it from us to toot our own horns when an institution like, oh, the New York Times agrees with a stance we have taken (several days previous), but yesterday’s editorial does echo quite a few points we raise in our recent post on Paulson screwing around with the bailout moola. Looks like we […]

Welcome to Paulson’s $700 Billion Bender

When I heard on Tuesday Treasury was redirecting the remaining $400 billion of the bailout to further capitalize banks and other credit institutions, I flipped. What about homeowners?! And I’m not just talking about those facing foreclosure. I’m talking about millions of homeowners who are in fixed-rate mortgages and who are watching their home values […]

Perfect Storm or Stellar Opportunity: Saving the U.S. Auto Industry

Back in early September, in a lively comment thread, I mentioned a radical idea for GM to staunch its financial bleeding: gm, which continues to post record-breaking losses quarter after quarter ought to declare bankruptcy, get out of their union contracts, retool their production for hybrid and hyper-fuel-efficient automobiles (which they have long known how […]