Tag Archive | "Chairman Barney Frank"

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Bonus pay bill: CBO predicts huge costs to private sector, broad swaths of employees affected

Bonus pay bill: CBO predicts huge costs to private sector, broad swaths of employees affected

After the nonpartisan Congressional Budget Office (CBO) calculated the enormous costs of an all-encompassing health care scheme with a bloated public option, members of Congress from both parties asked for more due diligence before rubber stamping the plan.

 Yet today, the U.S. House of Representatives may rush through another piece of poorly designed command-and-control legislation that the CBO just yesterday said could have its own tremendous costs.  Though advertised as giving shareholders more “say” over CEO pay, the “Corporate and Financial Institution…

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Posted in Bailout Watch, Deregulate to Stimulate, Nanny State, Personal Liberty, Politics as Usual, Precaution & Risk, Regulation, ZeitgeistComments (0)

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Why Not a Wal-Mart Bank?

Why Not a Wal-Mart Bank?

Seems like every business these days is becoming what’s called a “bank holding company” — seeking the shelter of the federal government’s deposit insurance and the ability to balance risks with more diversified lending and consumer deposits. Firms quickly granted “bank holding company” approval from authorities over the past few months range from the brokerages Goldman Sachs and Morgan Stanley to credit card company American Express.

So many businesses are suddenly getting BHC approval that columnist and blogger Michelle Malkin has…

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Posted in Bailout Watch, Economy, Legal, Politics as Usual, Precaution & Risk, RegulationComments (2)

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Bailout fails — Move on to Mark-to-Market Reform

Oh, Happy Day! And it certainly is for all those who value freedom, responsibility and the true free market in which individuals are free to profit from their risks on the condition that they don’t stick the rest of us with their losses.

It’s not hyperbole to say the Republican and Democratic backbenchers who defied both parties’ leadership to defeat this $700 billion package of Wall Street socialism literally saved America. Whatever their reasons, this defeat (or rather victory for freedom),…

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Posted in Bailout Watch, EconomyComments (14)

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