Bailout
razib | June 1, 2009G.M. to Seek Bankruptcy and a New Start:
It also places the government in uncharted territory as a business owner, as it takes a 60 percent ownership stake in the company during its restructuring.
The commanding heights are back. We're socializing the means of production. Meanwhile, California is going back to the 19th century:
Nearly all of the billions of dollars in cuts the administration has proposed would affect programs for poor Californians, although prisons and schools would take hits, as well.
There wasn't even a mention of bankruptcy, but many American states did go into default in…
razib | April 11, 2009Who's manning the TARP desk?:
Less than half a dozen people are responsible for making the final decisions about which banks get part of the $700 billion in bailout money available through the Troubled Asset Relief Program, according to Department of Treasury officials. In response to a Freedom of Information Act request made by the Sunlight Foundation in January for the members of the TARP Investment Committee, a FOIA officer recently responded with just four names, including Assistant Secretary, Neel Kashkari; Chief Investment Officer, James Lambright; Acting Assistant Secretary for…