Citigroup buys $50 Million Jet OR Reason #1,245,354 for why bailouts make no sense…
This is why public funds should NOT be used to prop up the private sector. Even though Citi probably has great reasons to buy the jet, the fact that it received tax-payer funds makes this whole thing look like sheer fiscal irresponsibility on its part… Incidentally, buying and using the jet is good for the [...]
Stimulus- House GOP ‘Oh, My God’, House Dems- “May Not Be Enough”
It seems House dems still have the mindset that money exists in a vacuum: The Hill House Appropriations Committee Chairman David Obey (D-Wis.) also told reporters it may not be the last effort to use big government spending to spur the economy. “This represents the largest effort by any legislative body in the world [...]
As Hong Kong is Declared The Freest Economy, Bernanke Wants Even More Govt Involvement in the US Economy…
We live in bizarre times… What is one to make of news items such as these: Bloomberg Federal Reserve Chairman Ben S. Bernanke warned that a fiscal stimulus won’t be enough to spur an economic recovery and that the government may need to buy or guarantee banks’ tainted assets to revive growth. “Fiscal actions are [...]
Why Bailouts are a waste of time and Taxpaer $$$ or CITI Shares Go Down 10%+ in one day…
How much money did Bush pump into the financial services sector in the last few months?Anywhere from 500 billion to over a trillion, yet Citi’s decline continues. This is why the invisible hand of market forces and not chucking aside free market principles is the proper way to revitalize the economy. WSJ After a tentative [...]
