Below The Beltway

I believe in the free speech that liberals used to believe in, the economic freedom that conservatives used to believe in, and the personal freedom that America used to believe in.

Archive for March, 2009

FedEx Shrugged

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Business, Economics, Politics

Federal Express is sending a message to Congress about the Employee Free Choice Act:
FedEx Corp. is threatening to cancel the purchase of billions of dollars worth of new Boeing Co. cargo planes if Congress passes a law that would make it easier for unions to organize at the package-delivery company.
A company spokesman said Tuesday that [...]

Amateur Hour At The RPV

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Politics, Virginia, Virginia Politics

In a truly bizarre twist, the people behind the plot to oust Jeff Fredrick as RPV Chairman have admitted they don’t even know who they want to succeed him:
In the coming weeks, there will undoubtedly be a confrontation between Frederick and his enemies before the State Central Committee. The chairman has made it clear he [...]

Paul Ryan Channels Emily Litela

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Credit Crisis, Dumbasses, Economics, Politics

Last week, Wisconsin Republican Congressman Paul Ryan joined in the AIG bashing by voting for the punitive bonus tax.
This week, never mind:
A top Republican now has buyer’s remorse about his vote last week in favor of a punitive tax increase on AIG employees.
Wisconsin Rep. Paul Ryan, the top Republican on the budget committee, said Thursday [...]

More On The AIG Bonus Tax And The Constitution

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Credit Crisis, Economics, Politics, U.S. Constitution

University of Chicago Law Professor Richard Epstein, author of several libertarian-oriented legal books including Takings: Private Property and the Power of Eminent Domain and Supreme Neglect: How to Revive Constitutional Protection For Private Property, joins those who think that the Constitutional objections to the AIG bonus tax still pending in Congress are very weak at [...]

Ron Paul Takes On Tim “Turbo Tax” Geithner

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Credit Crisis, Economics, Politics, Ron Paul

From today’s hearing of the House Banking Committee:

Any Color You Want, As Long As It Isn’t Black

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Auto Industry, Business, Dumbasses, Economics

The State of California is apparently considering banning black cars:
In a move that will likely get California’s consumers in a huff, impending legislation may soon restrict the paint color options for Golden State residents looking for their next new vehicle. The specific colors that are currently on the chopping block are all dark hues, with [...]

One Of Those “Where In The Constitution Is This ?” Moments

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under College Sports, Politics, U.S. Constitution

The United States Senate is spending it’s time, and our money, on the vital national question of how to pick a College Football Champion:
WASHINGTON (AP) – Everyone from President Barack Obama on down to fans has criticized how college football determines its top team. Now senators are getting off the sidelines to examine antitrust issues [...]

Obama’s Bank Plan: Robbing The Taxpayer

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Credit Crisis, Economics, Politics

In today’s Financial Times, Jeffrey Sachs uses a hypothetical to explain why the Geithner bank bailout plan is a bad idea:
Consider a simple example: a toxic asset with face value of $1m pays off fully with probability of 20 per cent and pays off $200,000 with probability of 80 per cent. A risk-neutral investor would [...]

The Republican’s Dumb Plan To Reinflate The Housing Bubble

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Credit Crisis, Economics, Politics, Real Estate, Sub-Prime Mortgage Crisis

I’ve written about similar proposals before — see here — but it appears that Congressional Republicans are once again talking about plans to “revive” the housing market.
Here’s a summary of the plan from David Freddoso at NRO:
1. A $5,000 tax credit for people who refinance their homes. This is designed to help people who are [...]

Even Worse Than We Thought

by Doug Mataconis @ Thursday, March 26th, 2009. Filed under Credit Crisis, Economics

Last month, we learned that the economy shrank by a greater-than-expected 6.2% in the 4th quarter of 2008.
Today, we learned it was actually a little worse than that:
WASHINGTON — The economy shrank at a 6.3 percent pace at the end of 2008, the worst showing in a quarter-century, and probably isn’t doing much better now.
The [...]

« Older Entries
Newer Entries »

[Below The Beltway is proudly powered by WordPress.]