- Previous presidents have assigned “czars”, but Obama has assigned the most (16).
- Czars are appointed by the president without any approval or even discussion by anyone in Congress.
- Czars report only to the President.
- Obama’s czars are in control of $1.7 TRILLION with absolutely no input from Congress or anyone else, for that matter, except the President. So far, they don’t even seem to be talking to anyone in the media. That’s because they don’t have to. They answer to no one – except Obama.
- GM to loan $2 billion to a private equity fund in Beverly Hills so they can by Delphi?http://www.reuters.com/article/americasDealsNews/idUSTRE55471Z20090605
- Watch this video: http://www.businessandmedia.org/articles/2009/20090609205031.aspx. This is very, very interesting. Of course, it’s just one witness, but I’d love to see someone investigate Gretchen’s claims. Actually, this entire segment of the show was amazingly interesting and scary, but I haven’t been able to find the whole thing online yet.
- Regarding Fiat coming in and “saving” Chrysler: You may be aware of some opposing the deal , trying to bring it to the Supreme Court’s attention. Unfortunately, nothing really came of it. You may wonder what the big deal is. Well, from what I can gather, one of the problems is the fact that with this deal, the unions get the most money out of it, while the secured bondholders get the least. This is completely backwards. For 230 years, secured bondholders have always been the ones to get the most money. ( I suppose, because they put up the most money? I’m not really sure.) Anyway, one judge just completely reversed this. Since there is now precedent, how difficult do you think it’s going to be for future companies looking to raise money to get secured bondholders to help them out? Are they going to want to help a struggling company knowing that now there is no guarantee that they will see the most money back should the company go bankrupt? Great. Way to help out business, Obama!
- Ten banks have finally been “approved” to return the TARP money they received from the government (a.k.a. us). (That’s right; the government wouldn’t just let the banks give the money back to them. They had to jump through a ton a hoops first. Now why is that? That is the question. Think about it: When you borrow money from someone – credit card company, mortgage company, your rich uncle – who has the power over the other? ) Anyway, it was a total of $68 billion. What do you think the government should do with that money, considering the country is in dire straits and has trillions of dollars in negative cash flow? Do you think maybe they should pay down some of that debt? Ah, but you forget, young grasshopper, we do not live in the land of common sense any longer. We live in a world where spending money creates money, socialism is good, and the government pays children to get good grades! Timothy “Turbo Tax” Geithner has said that he will use the returned funds for future bailouts, if needed. Gosh, they were right. He is the guy to really get things done! This guy’s a freakin’ genius!
- It’s a pretty sad day when Chavez is worried about being to Obama’s right! http://www.reuters.com/article/ObamaEconomy/idUSTRE5520GX20090603?feedType=RSS&feedName=ObamaEconomy&virtualBrandChannel=10441
