Category Archives: bailout
Voltwagon
Fredrich Hayek’s 1944 classic Road to Serfdom has become a best seller again. He said that governments tend to plan production for political, rather than market, purposes. Government owned GM’s new Volt costs $41,000, runs on a battery, and gets 40 miles per charge.
E.U. Time to Shine
Yesterday Germany outlawed naked shortselling. I looked it up, it has nothing to do with day trading at home in your underwear. In most short selling you have to borrow the security you are shorting and then return it at the hoped for lower price. With a naked short you don’t even borrow the the security. The euro responded to the new rule by falling to a 4 year low. The E.U. is on the hook for a trillion dollar bailout and Paul Volker says a breakup is possible.
GM Pays You Back
GM paid off its TARP loan with money from its TARP escrow account, then used more of your money to buy ads to brag about it. Nick Gillespie explains on Reason TV.
E.U. Chain of Custody
Greek Bail Out
Unfortunately, the real Greek Chorus, public union workers in the streets of Athens, sang a different tune – Burn Down The Banks! To that end they sacrificed 3 lives. A small price to pay to preserve a way of life that includes a 2 month pay bonus every year and a full salary pension pension at 60. Go here for more Greek geek from David Ignatius.
