As most of my Oklahoma readers already know, we have a spirited and lively race in progress for our next governor. No matter how it turns out, either Mary Fallin or Jari Askins will be the first woman governor of our state. The decision on who to vote for on November 2 comes down...
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I know I have already written about the latest $26 billion bone that is being thrown out by the Democrats. I continue to stand by my assessment that H.R. 1586 is not a good thing. It is just the latest example of a spend happy Congress doing what they do best, ie. spend our...
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There has been a debate in Washington, D.C. about what to do with the remaining of the TARP bailout funds. Those funds were set aside originally to purchase toxic assets from banks, ensuring that they could survive the recession without a major collapse of the banking industry. Soon after it’s inception, the purpose of...
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Here is a formula for you. Take greed and bad business practices in equal parts and mix it with companies who were deemed “to big to fail”. Once stirred together, combine the resulting mix with $700 billion in bailout money. After baking for several months, what do we get? Let’s see now, we have...
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I have to be honest with you, I had no idea who CIT was until this morning. As I was browsing the news, I came across a headline that intrigued me, so I clicked on the Associated Press link and discovered that yet another credit lender is in trouble. CIT Group, Inc. is one...
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In spite of everything the Obama administration has done towards keeping General Motors out of bankruptcy, in spite of the billions of dollars that the federal government has pumped into the company, GM has failed to reach an agreement with bond holders to swap their unsecured debt for a 10% equity share in the...
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Back in December 2008, I wrote an article that discussed how the original $700 billion was given to the banks and other companies and no strings were attached as to how the money should be spent. At that time, most of the recipients of the bailout were simply refusing to disclose how they were...
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This is another one of those “someone will have to explain this to me” stories. If you haven’t heard of American International Group or AIG by now, then you haven’t been paying attention for the past several months. AIG made big news when the federal government first supplied them with $85 billion in September...
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As I suspected they would do, the United States Senate has just approved giving Barack Obama the remaining $350 billion of the TARP bailout money. As I mentioned in a previous article, I would have been very surprised if the approval had not passed. It appears our political leaders are determined to squeeze every...
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With the first half of the $700 billion spent and no tangible results to show, the Senate is set to decide if Barack Obama will get the second $350 billion of the Wall Street bailout. With a vote set for Thursday, the Senate faces a a veto threat by Obama, if he doesn’t get...
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