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OpenMarket: John Berlau

  • Bankruptcy judge should put breaks on "Government Motors"

    June 2, 2009
    President Obama and his auto task force should respect the role of the bankruptcy court and recognize that its role is not to rubber stamp the administration's plan to take over GM.
  • Sotomayor NOT first Hispanic Justice -- Cardozo was

    May 26, 2009
    Whatever happens with the confirmation of President Obama's Supreme Court nominee Sonia Sotomayor, one thing is clear: she will not be the first hispanic or Latino to serve on the Supreme Court. This is a historical -- and not a predictive -- statement.

    The reason Judge Sotomayor will not be the first hispanic on the Court is that the first justice of hispanic origin was already nominated -- by a Republican President -- and confirmed by the Senate to serve on the Supreme Court more than 70 years ago. This would be Justice Benjamin Nathan Cardozo, who also has the distinction of being the second Jewish justice on the Court.

    A diverse array of sources from a mural of hispanic achievements at the Guatemalan fried chicken chain Pollo Campero to a ...
  • Chrysler bankruptcy an opportunity to reject Obama nationalization

    April 30, 2009
    Is 48 hours enough time to save Chrysler from being nationalized?
  • General Growth Properties (GGP) -- Bankruptcy the way it ought to be

    April 23, 2009
    On the surface, given the economic turmoil we've had, there was nothing that remarkable about the bankruptcy of shopping mall owner General Growth Properties (GGP). Late last week, GGP filed for Chapter 11 bankruptcy, an action that some had been expecting for months  given its debt of almost $25 billion.

    GGP was the second largest mall owner in the country -- with properties including Chicago's Water Tower and the DC area-Tyson's Gallleria -- and filed for what has been described the biggest U.S. real estate bankuptcy ever. Yet the bankruptcy barely made a ripple in the stock market, which was up last Thursday the 16th, the day of its filing. And most of its malls, according to various local press reporties, operated as if nothing had changed.

    Yet, in another way, the fact that this bankruptcy has so far gone off so smoothly is...
  • Obama credit card meeting -- should meet with economists instead

    April 23, 2009
    Instead of meeting with the executives of credit card issuers and sactimoniously lecturing them about not raising rates, as he is doing today,  President Obama would serve card holders more effectively by meeting with economists and listening to their concerns about the dangers of price controls on credit card services. Economists from all schools of thought -- from Keynesian to supply-side -- recognize the basic principle of microeconomics that price controls lead to shortages of  commodities, including credit, and cause distortions that harm ordinary consumers.

    Limits on risk-based pricing, as enacted in rules last year from the Federal Reserve, and in proposals in Congress that go beyond these rules, could result in sharp limits in the availability of credit at...
  • Stop Thief! NYT steals Examiner's AIG scoop with no attribution

    April 17, 2009
    One week after Washington Examiner ace investigative reporter Timothy P. Carney broke the blockbuster story reporting that American International Group's post-bailout CEO Edward Liddy owned a large stake in Goldman Sachs. a top recipient of the AIG bailout, the New York Times has decided that this is news "fit to print." But for some reason, the so-called paper of record didn't think it was "fit" to give any credit to the original source of this story.

    Almost all of the significant details in the Times story  by Mary Williams Walsh, posted last night on its web site, were reported in Carney's column in the Examiner a week ago...
  • AIG CEO Liddy owns millions in stock in bailout beneficiary Goldman -- Tim Carney blockbuster in DC Examiner

    April 10, 2009
    Everyone should read the blockbuster exclusive in today's Washington Examiner in which Timothy P. Carney confirms that AIG CEO Edward Liddystill owns more than $3 million in stock in Goldman Sachs.
  • The mark-to-market relief rally

    April 2, 2009
    The events leading to the Dow's climbing over 8000 today can be properly called the Mark-to-Market Relief Rally. More than any expected action of the bureaucrats and politicians at the G20, the decision today of the Financial Accounting Standards Board (FASB) to relax strict application of mark-to-market accounting mandates, urged on by members of Congress of both parties, it what's giving investors something to cheer for.

    In this era that supposedly signifies the return of big government, it is heartening that on this issue, Republicans and Democrats worked together to push for this common-sense free-market reform that will do much to get our economy going and could save taxpayers billions in avoiding the need for bailouts.

    In CEI’s recently released “...
  • With or Without You

    March 30, 2009
    The Obama administration's ouster of GM CEO Rick Wagoner won't solve the auto giant's problems. It does, however, show the power that government now wields over industry.
  • The AIG Tax Trojan Horse

    March 19, 2009
    The massive tax hike being voted on in the House today is a Trojan horse that uses the legitimate outrage over the American International Group bonuses to hit a wide variety of employees, and would be a serious blow to the economic growth we are trying to revive.

    The bill would levy a 90 percent tax on bonuses of any employee, with some exceptions, whose family income is more than $250,000 and who works for a company receiving funds from the Troubled Asset Relief Program. The tax would hit regardless of the employees' role in creating problems in the financial system. And many well-managed banks were practically forced by regulators and former Treasury Secretary Henry Paulson to take TARP money so the...

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