Archive for auto bailout
Make My Bailout
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From spaghetti westerns to J. Edgar Hoover, Clint Eastwood commands attention. So when he gives a half-time pep talk at the Super Bowl you listen. Rich Lowry gave the performance a rave review but didn’t care for the script.
We’re All Investors Now
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Republicans used to call it tax and spend. Now it’s mostly just spend. Democrats call it investing. For all the hope and change, things have stayed pretty much the same.
I drew this in 1992. 
Voltwagon
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Fredrich Hayek’s 1944 classic Road to Serfdom has become a best seller again. He said that governments tend to plan production for political, rather than market, purposes. Government owned GM’s new Volt costs $41,000, runs on a battery, and gets 40 miles per charge.
GM Pays You Back
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GM paid off its TARP loan with money from its TARP escrow account, then used more of your money to buy ads to brag about it. Nick Gillespie explains on Reason TV.
Drowning in Debt
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Terorists cut more sympathetic figures than hedge funds these days which may explain why the debt holders are only getting 29 cents on the dollar from Chrysler. On the other hand here’s a piece that says they’re lucky to get that.
Lamb Chop
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Jennifer Granholm, the two term Canadian governor of Michigan, called former GM CEO Rick Wagoner a sacrificial lamb. The Wall Street Journal, which never agrees with Granholm, agreed. But on the op-ed page Paul Ingrassia, a former Detroit bureau chief for the paper said the sacrifice was long overdue since the stock price had dropped from $70 to under $3 on Wagoner’s watch. Actually it closed at $1.94 today, which is down from the $53.40 high of the Granholm reign. Perhaps more sacrifice is in order.
