homeowners

I’m Sick of AIG

Mon, 03/23/2009 - 7:12am | posted by Matt Wittlief

This week has featured a lot of discussion on AIG. There is widespread outrage over the payments of bonuses to employees. There is finger-pointing and flip-flopping regarding who knew what and when in regards to the bonuses. We have the House and the Senate proposing and passing legislation to address the bonus issue. AIG CEO Edward Liddy testified before the House Financial Services subcommittee on Capital Markets. Obama and team have been making statements which appear, at times, to be inconsistent… I’m pretty much spent on the issue, but will offer my thoughts.

McCain Resurgence Plan - $300 Billion for What?

Thu, 10/09/2008 - 6:12am | posted by Brett Bittner

During Tuesday’s debate, John McCain discussed briefly a plan to spend $300 billion taxpayer dollars to transform households in foreclosure into FHA guaranteed fixed-rate mortgages. Yesterday afternoon, he followed it up with an e-mail to supporters (of which, I am not, but I like to keep abreast of general asshattery) that gave us a link to follow to learn more. I took him up on the offer, and I decided to take a look at real numbers to put the plan in perspective, since $300 billion taxpayer dollars is a pretty lofty sum for someone else to promise.

Obama Making Deficit Problems Worse

Thu, 04/30/2009 - 2:10pm | posted by Jason Pye

Despite President Barack Obama’s denials, he is as responsible for the deficit as his predecessor and is actually making it worse:

Congress controls the purse strings, not the president, and it was under Democratic control for Obama’s last two years as Illinois senator. Obama supported the emergency bailout package in President George W. Bush’s final months - a package Democratic leaders wanted to make bigger.
To be sure, Obama opposed the Iraq war, a drain on federal coffers for six years before he became president. But with one major exception, he voted in support of Iraq war spending.

The economy has worsened under Obama, though from forces surely in play before he became president, and he can credibly claim to have inherited a grim situation.

Still, his response to the crisis goes well beyond “one-time charges.”