Remember the “profit” that the taxpayers were supposed to make off of AIG’s bailout loan? This was because the government was charging a decently high interest rate and AIG had to pay that interest on the entire loan amount of $85 billion instead of taking the loan in installments.

Well, two [...]

The Wall Street Journal is reporting that the Democratic leadership is pushing hard for more auto industry bailouts (which we reported on earlier).

The question I always ask whenever a politician is pushing for a bill is who “owns” the politician. Speaker Pelosi’s 2nd largest campaign funding source is from [...]

Yeah, this guy is out advertising for a book that he wrote, but he’s spot on. When the President agrees to “uphold the Constitution”, we expect them to honor that oath. Government has limits for a reason. Few Presidents have seem to truly care about that, though.

Here’s a link [...]

When $124.5 billion just doesn’t cut it, there’s always room to ask for more.

The Financial Times reports:

AIG is asking the US government for a new bail-out less than two months after the Federal Reserve came to the rescue of the stricken insurer with an $85bn loan, according to [...]

Here’s another clear example of why the bailout bill was a terrible idea:

If cleared for $215 million in federal funds, Trustmark Corp. plans to invest in both small and large companies, make consumer loans and expand.

Though the funds would come from the $700 billion federal bailout package, Trustmark’s [...]

Bloomberg reports that Detroit’s Big 3 automakers (GM, Ford, and Chrysler) are asking for another $50 billion more in bailout. This is in addition to the $25 billion they received a little over a month ago as part of the budget bill.

Neil Cavuto and Ron Paul are on the same page this time:

Bloomberg News is reporting that it has just filed a lawsuit against the Federal Reserve:

Bloomberg News asked a U.S. court today to force the Federal Reserve to disclose securities the central bank is accepting on behalf of American taxpayers as collateral for $1.5 trillion of loans to banks.

[...]

When confronted about these numbers, the executives will always claim that the bonuses are paid out of other funds and company earnings. This completely ignores the fact that without the taxpayers’ bailout money, there would be no earnings! If there was anyone left who still felt like the bailout was a [...]

Yay.

The U.S. Treasury Department is preparing to open its $700 billion bailout package to companies outside the traditional banking sector, the Washington Post reported on Friday.

The initiative would make it easier for the Treasury Department to help a broader variety of firms if their troubles put the wider [...]