Local Governments Join The Strategic Default Movement
As if creditors didn’t have enough worries with nonperforming consumer debt and defaulting real estate mortgages, it now appears that another wave of debt defaults has started - this time by municipal borrowers.
Consider the City of Buena [...]
US Treasury Calls TARP Repayments A “Milestone” While Ignoring The Elephants In The Room
Treasury’s Victory Call On Financial Bailout Premature
The Treasury Department’s latest public relations effort to highlight the success of the financial system bailout focuses on the amount of TARP repayments versus total debt outstanding. In addition, the Treasury, [...]
Geithner Lectures Europe On Fiscal Discipline - This Is Like BP Giving A Seminar On Oil Well Safety
With Europe Facing Meltdown Geithner Offers Advice
After recently “saving” the US from economic Armageddon, Treasury Secretary Geithner must feel uniquely qualified to advise European governments on their looming sovereign debt crisis. Geithner’s solution to Europe’s out of [...]
If You Buy A Lottery Ticket In Connecticut Don’t Go On Vacation
Living Beyond Your Means
Connecticut is facing a projected $8 billion dollar plus deficit over the next two years. In an attempt to prevent raising taxes which are already among the highest in the nation, Connecticut is following [...]
Super Clunkers - How Congress Can Double US Vehicle Sales
Clash for Clunkers Increases Car Sales
The much maligned Cash For Clunkers program has three remarkable features that differentiate it from the other wide assortment of endless government stimulus/bailout programs.
1. The Cash For Clunkers program, at an initial [...]




