Word: bailouts
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Should struggling boat dealers get the same sort of bailout from the federal government that is being doled out to the flailing auto industry? The Small Business Administration thinks so. It has just started a program that offers loans to help boat dealers to finance their inventory. But at least so far, few dealers seem to be interested...
...Louisville now has a liberal Democrat in the House, and the Republican governor whom McConnell helped elect in 2003 was roundly defeated four years later. Bunning's conservative credentials - buoyed of late by his opposition to the stimulus package, Supreme Court nominee Sonia Sotomayor and, especially, the Wall Street bailout - would have stood him in good stead in a primary, but observers on all sides of the fence predicted he would have struggled in the general election, which has already drawn two strong likely Democratic contenders, Mongiardo and attorney general Jack Conway...
...that? Or is that the case? Or is it because of the bailout or - Here's what I think has happened. I think that we came in and had to take a series of emergency measures to stabilize the economy, and that meant a recovery package that was $800 billion. As circumstances had it, President Bush and the previous Congress hadn't dealt with their budget so we had an omnibus that had earmarks in it which got publicized. Then you had our budget that we had to introduce, that even though it actually reduced long-term budget projections...
...have - and then obviously the TARP bank bailout money - didn't happen under our watch, but we had to administer it. We then took on making sure that GM and Chrysler didn't collapse, because that would have potentially created additional fear in the marketplace at a time when the economy was most vulnerable. But that got advertised...
This line of reasoning is most closely identified with Elizabeth Warren, a Harvard law professor and the current chairwoman of the congressionally appointed committee overseeing the Treasury's bailout efforts. In a 2007 article in the journal Democracy, Warren argued for what she called a Financial Product Safety Commission. But the idea isn't exclusive to her. Canada, which did not suffer the subprime woes of its southern neighbor, created a consumer financial agency in 2001. Australia and the Netherlands have taken the more ambitious step of consolidating all consumer and market oversight under one financial regulator while leaving soundness...