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Biden’s budget: A continued attack on reliable energy and freedom
President Joe Biden’s FY 2025 budget request of $7.3 trillion is exactly what Americans should have expected: increased spending and taxes. A budget…
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New student loan proposal is regressive, politicized, and won’t stop rising prices
President Biden this week unveiled a new student debt relief proposal. It would cancel student debt for up to 153,000 people who incurred $12,000…
Blog
Red tape? More like chains, thanks to deficit spending and subsidies
Federal subsidies and grants are infamous for having strings attached. That’s nothing new, but those strings are increasingly chains. Businesses are being seduced into corporate…
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General Growth Properties (GGP) — Bankruptcy the way it ought to be
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).
Blog
Obama credit card meeting — should meet with economists instead
Instead of meeting with the executives of credit card issuers and sactimoniously lecturing them about not raising rates, as he is doing…
Citation
AIG head’s $3M in Goldman stock raises apparent conflict of interest
“It’s not much of a stretch to say that under Liddy’s tenure, the company’s and taxpayers’ money has been looted to pay off AIG’s business…
Blog
Mortgage Executive Kills Himself, After Obama Makes Mortgage Giant Freddie Mac Lose Money to Bail Out Irresponsible Borrowers
The chief financial officer of mortgage giant Freddie Mac committed suicide today in his basement. The Obama Administration forced Freddie Mac to run up…
Blog
Obama to Sign $6 Billion National Service Boondoggle; Mandatory Service Mulled
President Obama will sign into law a $6 billion “national service” boondoggle. In the March 31 Washington Examiner, I described how the “Americorps…
Newsletter
Bailout Power Grab, Abuse of Power in New York and Rising Sea Level Panic
White House economic advisers plan to convert government holdings in bailed out banks to common stock, increasing direct government control. New York State insurance chief…
Blog
Hans Bader on Government Ownership of U.S. Banks
[youtube:http://www.youtube.com/watch?v=exTXY__Il6g 285 234]…
Blog
Nationalizing the Banks? Stock Conversion May Backfire
The Obama Administration wants to convert the preferred shares the government got from banks in the bank bailout into common shares. In theory, it…
Blog
Tea Party Protesters Are Right
Tea party protests questioned the constitutionality of some of the massive bailouts over the past year, which amount to trillions of dollars. That drew…
Newsletter
CO2, Microsoft’s Antitrust Overseers and Anti-Tax Activists
The Environmental Protection Agency prepares to release a document that could require the federal government to regulate emissions of carbon dioxide. The Justice Department extends…
Blog
Stop Thief! NYT steals Examiner’s AIG scoop with no attribution
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…
Op-Eds
The Tea Party Protesters are Right
Tea party protests questioned the constitutionality of some of the massive bailouts over the past year, which amount to trillions of dollars. That drew…
Blog
Slandering the Tea Parties
The “tea party” protests against out-of-control government spending have been very clear in identifying what wasteful spending they object to. One example is…
Blog
Horse Racing As A Public Good?
Maryland politicians really have their hands full as the legislative session draws to a close. Instead of focusing on their state’s looming long-term budget…
Blog
DC Tea Party Draws Big Crowd in Pouring Rain
Hundreds of people turned out in the pouring rain for Washington, DC’s Tea Party – one of many tax protest events taking place around the…
Op-Eds
1,000,000 Tea Bags Find a Home
After park officials turned away Tea Party protesters' 1 million tea bags, the press conference was moved to the Competitive Enterprise Institute. We were happy…
Newsletter
Justice Ginsburg’s Inconsistency, the Continuing Pirate Threat and Tax Day Tea Parties
Justice Ruth Bader Ginsburg defends the use of foreign legal codes in deciding U.S. Supreme Court verdicts. Somali pirates renew their attacks, seizing four new…
Newsletter
Somali Pirates, GM Executives and FDA Regulators
The U.S. military considers attacking Somali pirate bases. Treasury officials instruct General Motors to plan for bankruptcy. The Food and Drug Administration reconsiders its ban…
Blog
Federal Budget Deficit Skyrockets; $163,000 More in Taxes
“The budget deficit increased by $192.3 billion in March, and is near $1 trillion just halfway through the budget year.” It’s going to…
Blog
AIG CEO Liddy owns millions in stock in bailout beneficiary Goldman — Tim Carney blockbuster in DC Examiner
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…
Op-Eds
Geithner promises repeat of Bush’s regulatory mistakes
Treasury Secretary Tim Geithner’s testimony before Congress last weekrightly angered a lot of conservatives, small-government leftists, libertariansand other friends of the free market. And Geithner’s…
Blog
America – full of Socialists?
Almost half of Americans either prefer socialism to capitalism or are downright confused, according to a Rasmussen poll released today. Twenty percent of Americans…
Blog
Ideologies Are Like Cults
Herbert Hoover ran up big budget deficits in response to the 1929 stock market crash, in an unsuccessful effort to stave off the Great…
Op-Eds
Government’s Mistakes Have Deepened This Recession
Steven Gjerstad and Vernon Smith suggest one unexplored aspect of our financial crisis: the role of egalitarian policies. To see this, note…
Blog
GASPing at the Geithner-Summers Plan
Like the acronym for the Geithner and Summers Plan — GASP — in the article by Laurence J Kotlikoff and Jeffrey Sachs. And “gasp”…
Newsletter
Modified Mortgages, Unions Losses and Hurricane Insurance
The White House pushes mortgage companies to “modify” more home loans, while the number of defaults continues to rise. Sen. Blanche Lincoln (D-AR) announces she…
Op-Eds
Hoover’s Deficit Spending
William Hettinger [letters, April 3] rewrote history by falsely claiming that “President Herbert Hoover’s response” to the 1929 stockmarket crash “was to balance the…
Blog
A Bounty on Your 401(K)
The Obama Administration’s mortgage bailout for irresponsible borrowers (including wealthy borrowers with modest mortgage payments) provides a bounty for reckless sub-prime mortgage lenders…
Newsletter
G20 Stimulus, A Plan for Carbon Dioxide and Mark-to-Market Reforms
World leaders pledge to spend an additional $1 trillion to stimulate the global economy. Global warming activists call for policies to lower the concentration of…
Blog
The mark-to-market relief rally
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…
Blog
Markets Rally on Hopes of Regulatory Relief
The stock market has gone up by 280 points so far today, fueled by FASB’s vote to relax rigid mark-to-market accounting rules,…
News Release
Statement on the Progress of the London G20 Summit
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News Release
Statement on the Expected Vote to Relax Mark-to-Market, or “Fair Value,” Accounting Mandates
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Blog
Obama Follows in Hoover’s Footsteps
During the Great Depression, Herbert Hoover damaged the economy, and impoverished the American people, with costly, artificial attempts to stimulate the economy through…
Blog
Bill Giving D.C. a Congressman Is Unconstitutional
A bill that would give residents of Washington, D.C. a Congressman is unconstitutional, lawyers in the Justice Department’s Office of Legal Counsel concluded. But…
Spectator
Obama’s Inauspicious Start
Blog
“Robbery of the American People”
“Nobel Prize-winning liberal economist Joseph Stiglitz points out that the Treasury Secretary Tim Geithner’s plan to have the government subsidize investments in ‘toxic assets’ creates…
Blog
AIG Chief Loves Vicious Left-Wing Terrorist?
AIG Financial Products CEO Gerry Pasciucco wears a T-shirt emblazoned with the face of Che Guevara — the Cuban “revolutionary” and henchman of Fidel…
Blog
Billions More for Failed Bailouts
Ironically, by getting rid of General Motors CEO Rick Wagoner, the Obama Administration has made it even harder for it to demand the painful…
Blog
With or Without You
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…
Newsletter
Countering Earth Hour, Mismanagement at Freddie Mac and Good News for Coal
Lights go out around the world in observance of “Earth Hour”. Regulators push mortgage giant Freddie Mac to…
News Release
CEI Comment on Obama Firing of GM CEO Wagoner
Washington, D.C., March 30, 2009— John Berlau Director, Center for Investors and Entrepreneurs…
Blog
GM CEO to Resign
The President seems to think that GM is not fit to run itself. Given recent events, he may well be right. But how on earth…
Blog
Feds Make Freddie Mac Even Worse, Ripping Off Taxpayers
After federal regulators took over failing mortgage giant Freddie Mac, they didn’t stop its risky lending practices. Instead, they ramped up its risk-taking, making it…
Blog
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…
Spectator
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…
Blog
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…
Spectator
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…
Blog
$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…
Blog
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…
Spectator
The Breaking up of Money-Pit Behemoths if Necessary
Blog
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…
Spectator
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…
Spectator
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…
Spectator
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…
Spectator
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…
Spectator
The Mortgage Entitlement Bailout: Even Worse Than You Think
Blog
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…
Newsletter
Genachowski for FCC, Obama Meets with Gordon Brown and the Threat of a Carbon Tax
President Obama nominates technology advisor Julius Genachowski to head the Federal Communications Commission. British Prime Minister Gordon Brown visits the White House to discuss international…
Blog
Your Loss Is My Gain, Sucker!
I am being enriched by a vast expansion of government that will impoverish you and your family, and shrink the size of the economy in…
Spectator
AIG Price Tag: $1,400 Per Taxpayer Family
Blog
CEI at CPAC – Fred L. Smith, Jr.
CEI President Fred L. Smith, Jr. dropped by CPAC today to speak on a panel about government bailouts. He also made appearances on Radio Row…
Blog
An open auction for price clarity?
In today’s Financial Times, Gillian Tett addresses the opaqueness of determining the “price” of collateralized debt obligations backed by mortgage…
Blog
Foreclosure and the ‘forgotten man’ in Obama’s SOTU speech
Perhaps with the popular reaction to Rick Santelli’s ‘tea party’, in which the CNBC commentator elicited cheers for saying that the thrifty should not…