Mortgage Execs’ Hefty Salaries To Be Disclosed Federal regulators plan to disclose Thursday that the top executives of government-controlled mortgage finance companies Fannie Mae and Freddie Mac each earned between $4 million and $6 million this year, two people briefed on the matter said. The people, who declined to be identified because the announcement was […]
Beijing reluctant to keep bankrolling president’s belt-buster budget One day after the Chinese Prime Minister Wen Jiabao snubbed President Obama at the United Nation’s Copenhagen Climate Summit, the Chinese warned the United States that China’s ability to continue buying U.S. Treasury debt was limited. Zhu Min, the deputy governor of the People’s Republic of China, […]
Despite Kyoto, despite Copenhagen, despite the New Green Economy and despite the Democratic Party, world oil demand is expected to increase by 0.8 to 1.5 million barrels a day in 2010, depending on the source of your forecast. That kind of increased demand could lead to a substantial increase in oil prices; when demand exceeds […]
Copenhagen – In a strange twist, a Washington snowstorm is forcing Speaker Nancy Pelosi, D-California, to make an early departure from a global warming summit here in Denmark. Pelosi told CNN that military officials leading her Congressional delegation have urged the 21 lawmakers to leave Copenhagen several hours earlier than scheduled on Saturday. The Speaker […]
Peter Schiff–Although Barack Obama has refrained, at least for now, from delivering triumphant speeches in a naval flight suit, there is nevertheless a strong tone of accomplishment emanating from the President and his deputies. Over the weekend, top White House economic adviser Lawrence Summers even pronounced that the recession is now over. Without hedging his […]
by Daniel Pipes November 21, 2009 Since the ouster of Saddam Hussein in 2003, the U.S. taxpayer has been rebuilding Iraq and – for just as long – I have been complaining about this being unnecessary and even counterproductive. (See here, here, and here for sample critiques.) Comes a report today by Timothy Williams in […]
With the federal government coming off a $1.42 trillion deficit (“roughly twice individual income tax revenue“) and Washington already another $292 billion in the red, the president and his allies are determined to ramp up government “stimulus” spending even more and turn the Troubled Asset Relief Program (TARP) into a slush fund for politicians. But […]
A few media outlets cheered the announcement that Bank of America was repaying its $45 billion of bailout money ahead of time. Bank of America is now obviously healthy again, so it’s time to celebrate, right? Well, no. The main reason Bank of America paid back the money was to get out from under the […]
When Laure Cuccarolo went into early labor on a recent Sunday night in a village in southern France, her only choice was to ask the local fire brigade to whisk her to a hospital 30 miles away. A closer one had been shuttered by cost cuts in France’s universal health system. Doctors, trade unions and […]
Democrats plan to allow the government’s debt to swell by nearly $2 trillion as part of a bill next week to pay for wars in Afghanistan and Iraq. The amount pretty much equals the total of a year-end spending spree by lawmakers and is big enough to ensure that Congress doesn’t have to vote again […]
