GM is Alive; At Least Twelve GM Owners Are Not

For me, the most frustrating part of the massive bailout for the failing big businesses of America (like GM and the big banking interests) is not how much money the taxpayers had to shell out (though that was rather frustrating). It’s one simple fact—the bailouts propped up businesses that should have died. The bailouts rewarded mediocrity and punished excellence. I hate my bank—Chase. I used to be a very happy customer of Washington Mutual. Do you remember them? They had generally happy Read more […]

Bear Stearns Executives Rewarded for Failure

Many of the Bear Stearns executives responsible for the subprime mortgage fiasco that set off a worldwide economic downturn didn’t have to share in the financial ruin they helped precipitate. In other words, these captains didn’t go down with the sinking ship. In fact, they jumped off Bear Stearns and started piloting other major American economic ships. An article in Mother Jones profiles six Bear Stearns executives who went on to highly successful (and highly compensated) jobs at other companies Read more […]

Defaulting On The Debt Is Our Only Option

On Monday, while displaying his characteristic self-righteous indignation, the law professor turned community activist turned President told the American people that Republicans are solely responsible for “their” fiscal crisis and “they” will have to continue to spend “their” way out of “their” mess. Obama laid down the law during his press conference and demanded the power to explode our debt ceiling to service the American people that re-elected him last November. Or else. “We Read more […]