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...blunderbuss of a lens against large American corporations and the institutions that he believes have flat-out screwed the working class. In his latest film, Capitalism, Moore ridicules the business philosophy that has blown up the economy, resulted in 6 million job losses and required more than a $1 trillion in bailout money to keep the banks afloat - while millions of people have lost their homes to foreclosure. He's a man who has made perpetual outrage an art form in every sense of the word. He had some choice words for TIME's business editor, Bill Saporito. (See TIME...
...America isn't so keen on national industrial policy. But in Detroit's past, you can find an idea for its future - and the nation's. Back in the '50s, the Federal Government began investing what would eventually reach half a trillion dollars in what became the interstate highway system. You could have considered that an incredible subsidy for the auto industry - which it was - but it was also an investment in the nation's future...
Palin's audience was a mostly sympathetic throng of high-flying executives and fund managers from more than 32 countries, responsible for some $10 trillion worth of assets among themselves. While they welcomed her support for strong free-market policies, some of the executives in the crowd were not entirely convinced. "[Palin] displayed a mixture of commonsense prudence and a bit of naiveté when it comes to finance," says a London-based fund manager (most delegates spoke anonymously due to the confidentiality policies of their companies). "Surely, we know now not all things are better left to the market...
FEDERAL SPENDING The Senate is due to approve $1.2 trillion in funding for federal agencies before the fiscal year ends on Sept...
...bill have produced eye-opening reports. The most important of these, issued last week by the Institute for Policy Integrity, conducts a cost-benefit analysis of the Waxman-Markey program and finds, counter to objections, that the bill would have a net benefit of as much as $5.2 trillion. The report included a median projection for net benefits of $1.2 trillion and found that even more stringency could actually be more beneficial. Their estimations also ignore all the indirect benefits, such as improved health due to reduced pollution that will accrue from the bill...