Experts say bailout is grossly mismanaged… and this is a surprise?

The oversight panel for the Treasury Department’s bailout has testified to a Senate panel that the program is mismanaged, inefficient, incoherent, and ineffective… in short, living up to all the predictions by critics of the bailout. What is difficult for me to fathom is how this comes as a surprise to ANYone.
Naturally, bailout proponents will [...]

Salary controls: The drumbeat of socialism grows louder

It’s been all the buzz for the last couple of days: the Obama administration intends to cap the pay of executives at banks receiving significant taxpayer bailout funds. The cap will be $500,000, and there will be scrutiny of their perks and fringe benefits as well. There are two unsettling aspects of this government power-grab.
First, [...]

Yet more inefficient industries ask for our money

It has quickly become a cliche to decry the procession of inefficient mega-industries headed to Washington to compete for trillions of our tax dollars. But each day, the list of industries that foretell the end of America if their industry falters grows longer. Now, U.S. steelmakers have their hands out.
A telling passage of this story [...]