by Jerry O’Driscoll That is the title of yesterday’s “Wonderland” column by Daniel Henninger in the Wall Street Journal. Henninger distinguishes between market entrepreneurs and political entrepreneurs. Market entrepreneurs innovate and create new products. Political entrepreneurs make money by gaming the political system. “We need vision, vitality and commercial moxie. The government is draining it … Continue reading Bring Back the Robber Barons
by Mario Rizzo My long-time friend and coauthor, Jerry O’Driscoll, has an excellent post at Cato-at-Liberty on TARP. In a relatively few words he gets to the heart of the matter. Take a look here.
by Sandy Ikeda I came across this "handy guide" to the bail-out acronym soup. The list appears to be current, at least up to April 13th but, sure as the sun rises in the east, it will grow longer. Stay tuned.
By Chidem Kurdas It is hard to find another example in history of so much taxpayer money spent with so little understanding as has been the case with the Treasury’s Troubled Asset Relief Fund—though the new stimulus package may involve even more money and less understanding, as Mario’s posting on the Macroeconomic Knowledge Problem … Continue reading Hope amid Bailout Blues
by Mario Rizzo Today from George Bush’s remarks announcing to use of TARP funds to bailout the auto industry -- until they ask Obama for more later next year: … [M]y administration worked with Congress on a bill to provide automakers with loans to stave off bankruptcy while they develop plans for viability. This legislation … Continue reading Hayek Explains Bush on the Auto Bailout