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Sovereign wealth funds: Should governments invest in private businesses?
President Trump recently signed an executive order to study creating a sovereign wealth fund for the US government. If the proposal comes to pass,…
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Department of Education bails out of student loan bailout
For the second time in the past month, the Biden administration withdrew a proposed rule that CEI had opposed. The Department of Education has…
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Proposed student loan bailout rule makes no sense
As the Federal Register approached its previous record of 95,894 pages in a year (set in 2016), the Biden administration devoted a few more…
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Losing talent in these perilous times
We’re beginning to see the talent exodus from TARP-funded financial institutions. Yesterday in an op-ed Jake DeSantis of AIG-Financial Products wrote his “resignation letter”…
Blog
Geithner Seeks More Power to Ruin Our Economy
Treasury Secretary Tim Geithner wants a “vast expansion” of his power over the financial system. This is the same guy whose bungled…
Newsletter
AIG’s Tarnished Brand, The White House Vegetable Garden and Global Warming Negotiations
The damage to AIG’s corporate brand may hinder its ability to repay bailout loans from taxpayers. First Lady Michelle Obama announces the creation of a…
Op-Eds
Geithner’s Power Grab: Not All Bad
Testifying before the House of Representatives today, Treasury Secretary Tim Geithner asked for vast new powers to oversee banks, investment houses, hedge funds, and…
News Release
CEI Analysis of Geithner Insurance Proposals
Testifying before Congress today, Treasury Secretary Timothy Geithner will propose broad new federal oversight for a variety of financial services, including insurance. Analysts at the Competitive Enterprise Institute, a…
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Obama’s Policies Are “A Road to Hell,” European Leader Says
“The president of the European Union on Wednesday slammed U.S. plans to spend its way out of recession as ‘a road to hell.’…
Newsletter
Carbon Tariffs, Union Organizing and Geithner’s Toxic Plan
The House Ways and Means Committee holds a hearing on the impact of global warming on international trade. Senator Arlen Specter (R-PA) announces that he…
Citation
Taxpayers Getting Hosed By The Collapse Of AIG’s Insurance Business
News Release
Collapse of Insurance, AIG Could Lead to Tax Hikes
The collapse of state-regulated insurance subsidiaries could result in a significant tax hike for nearly all Americans, warns an insurance policy expert with the Competitive…
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$2 Trillion Tax from Obama: Hidden Costs of “Cap-and-Trade” Scheme
Obama’s proposed “cap-and-trade” carbon tax on energy use and utility bills is expected to raise up to $2 trillion, more than the $646 billion…
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Toxic-Asset Buy-Up: “Pure Plunder”?
People who have actually read the fine print of the Administration’s trillion-dollar toxic asset buy-up program don’t like it. One calls it “pure plunder.”…
Newsletter
Toxic Assets, NIMBYs and Fish Pedicures
Treasury Secretary Timothy Geithner unveils a plan to sell off “toxic assets” as part of the federal bank bailout. The U.S. Chamber of Commerce launches…
Blog
Toxic Asset Rip-Off
Obama is proposing that the Treasury provide loans up front and insurance against potential losses on the back end. It’s what Paul Krugman called "heads…
Blog
“Heads I win, Tails the Taxpayers Lose”: Toxic Asset Rip-Off
That’s how analysts describe the trillion-dollar toxic-asset buy-up program proposed this weekend by the Obama Administration: “the president is putting forth his idea to…
Blog
Blind to Obama’s Broken Promises
In 2008, Obama promised a “net spending cut” (although he never did come up with cuts to offset his proposed spending increases). Obama…
Newsletter
Obama’s Debt, Wall Street Bonuses and the Economy vs. the Environment
A new congressional report estimates that President Obama’s spending proposals will produce over $9 trillion in debt. Debate continues over the plan to tax some…
News Release
CEI Statement on Latest Geithner Bailout Plan
CEI Comments on Latest Geithner Bailout Plan…
Citation
The Breaking up of Money-Pit Behemoths if Necessary
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Obama Budget Explodes Debt, Taxes, CBO Admits
Obama’s budget would explode the national debt while increasing taxes. That’s the conclusion of the Congressional Budget Office, controlled by lawmakers who support…
Blog
Herbert W. Obama
In the Great Depression, President Herbert Hoover raised marginal tax rates to 63%, and went on a deficit spending binge. He also signed…
Blog
Will talent flee to the City?
A different take on possible effects of lawmakers’ rabble-rousing on TARP bonuses. Jeffrey Goldfarb at breakingviews.com says that driving out talented financial…
Blog
“Going Galt”– 90 percent tax may provide impetus
Already there’s confusion over what the 90 percent bonus tax bill passed by the House really means. Targeted at the AIG bonuses,…
Newsletter
Celebrating Human Achievement, Taxing AIG Bonuses and Cap and Trade in the Senate
Environmental activists encourage cities to celebrate “Earth Hour” by turning off lights for an hour on March 28th. The House of Representatives approves a 90%…
Blog
A Cynical Poison-Pill Bill
Yesterday, liberal lawmakers, after publicly blasting the multi-million dollar AIG bonuses as undeserved and excessive, privately voted down GOP proposals to limit them.
Blog
The AIG Tax Trojan Horse
The massive tax hike being voted on in the House today is a Trojan horse that uses the legitimate outrage over the American International…
Blog
AIG Lies; Bonuses for Fannie & Freddie; Fed Explodes Money Supply, Risks Stagflation
It’s not just AIG, being bailed out for $170 billion, that’s using taxpayer money to give fat bonuses to its employees. The same thing is…
Newsletter
Beach House Bailout, Voting Rights and Trade War with Mexico
Congress to likely consider a controversial plan for taxpayers to subsidize disaster insurance in risk-prone states. Attorney General Eric Holder keeps quiet about the recent…
Blog
Hypocritical Posturing By Obama Over AIG Bonuses
In response to public outrage, Obama is belatedly criticizing the millions of dollars in bonuses that AIG, which is being bailed by taxpayers at a…
Newsletter
Turning Down Stimulus Dollars, Legal Malpractice and a “Socialist” President
A group of governors turn down federal stimulus funding for their states, citing the strings attached by Congress. The Supreme Court rules that drug maker…
Op-Eds
Obama and Dodd Hypocritical on AIG Bonuses
In response to public outrage, Obama is belatedly criticizing the millions of dollars in bonuses that AIG, which is being bailed by taxpayers…
Op-Eds
Obama and Dodd Hypocritical on AIG Bonuses
In response to public outrage, Obama is belatedly criticizing the millions of dollars in bonuses that AIG, which is being bailed by taxpayers…
Newsletter
Liar Loans, Rising Sea Levels and Gambling Online
Democrats in Congress quarrel over new bankruptcy rules for homeowners. Newspaper headlines claim that sea levels are rising twice as fast as before. Finance Committee…
Blog
Bailouts for Liars, Illegal Aliens, and Undeserved Bonuses
Insurance giant AIG, bailed out by taxpayers for $170 billion, is using taxpayer money to pay executives in the division that brought…
Op-Eds
Bailouts for Liars, Illegal Aliens and Unjust Bonuses
The inept managers of the insurance giant AIG, which is being bailed out by taxpayers at a cost of over $170 billion, are using…
Blog
An Explosion of Litigation
Already burdened by $8 trillion in new federal spending commitments and the likelihood of higher taxes to pay for bailouts,…
Newsletter
Obama’s Greenhouse Gas Plan, Accounting Rules for Economic Recovery and Science v. Politics
The Obama administration plans to dramatically lower greenhouse gas emissions in the United States. The House Financial Services Committee holds a hearing on the economic…
Blog
Economists Give Obama Failing Grade; New Bailouts Demanded As Obama Breaks Promises
Obama gets a failing grade from economists. “U.S. President Barack Obama and Treasury Secretary Timothy Geithner received failing grades for their efforts to…
Newsletter
More Newspaper Layoffs, Card Check Filibuster and Obama’s Failing Grade in Economics
The print news industry takes another hit as The McClatchy Company, the nation’s third largest newspaper publisher, announces plans to layoff 1,600 fulltime employees. Sen.
Blog
Stimulus Subsidizes Corruption, Waste, Racism
The $800 billion stimulus package signed by Obama not only will make the economy shrink over the long-run, it will pay $88.6 million…
Blog
Sen. Richard Shelby, LOL*
We normally don’t spend much time praising elected officials here at OpenMarket, but I have to make an exception (this week, at least) for Sen.
Blog
Obama Insults America’s Allies, Endangers Economy
Not content with endangering the economy by pushing through $8 trillion in bailouts and welfare, Obama has now insulted the…
Newsletter
A Fundamentally Weak Economy, Alternative Energy Mandates and Where Soros is Putting His Money
The White House budget director describes the U.S. economy as “fundamentally…weak.” Maryland’s governor proposes legislation to require greater use of alternative energy sources.
Blog
$8 Trillion in Bailouts; Undeserving Rich Benefit
Federal bailouts and related spending proposed by the Obama Administration now total 8 trillion dollars, according to the American Institute for Economic Research.
Blog
90 Percent Tax Rate Proposed
Congressman Jerry McNerney (D-California) has advocated raising marginal tax rates to 90 percent. Such a tax increase on the wealthy would be necessary, but…
Blog
The 5% Bailout: Jeb Hensarling Trashes TARP
The Congressional Oversight Panel (COP), which oversees the spending of TARP funds, released its March report today entitled “Foreclosure Crisis: Working Toward a Solution.”…
Blog
Obama Bails Out Rich, Irresponsible People With LOW Mortgage Payments
Yesterday, I wrote about how high-income people with $700,000 homes, who are in no danger of becoming homeless, would benefit from the Obama Administration’s…
Newsletter
$75 Billion for Bad Mortgages, Card Check in Congress and Lowering Global Warming Expectations
The White House unveils the details of its $75 billion mortgage “rescue” spending package. Democrats in Congress push for changes in labor organizing rules. President…
Op-Eds
Speak out against ‘fishing expedition’
Sir, Kudos to former ambassador Faith Whittlesey for her valid points about the Obama administration exerting “raw Goliath power” and breaching a bilateral tax agreement…
Citation
The Mortgage Entitlement Bailout: Even Worse Than You Think
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Bailing Out the Reckless Rich, Harming Our Economy
Well-to-do people will receive an unnecessary mortgage bailout, under a new federal program that will cut their payments to just 31 percent of their income…