"A brazen new era of government", by Donald B. Hawthorne
Economy
8:41 PM, 05/ 7/09
"A brazen new era of government", by Donald B. Hawthorne
Economy
8:41 PM, 05/ 7/09
Some Ideas on Immigration Reform, by Marc Comtois
Immigration
5:00 PM, 05/ 7/09
United States as Helpless Giant, by Justin Katz
War on Terror
1:54 PM, 05/ 7/09
Rob Coulter: Property Revaluation and Subjectivity, by Engaged Citizen
Taxation
12:10 PM, 05/ 7/09
Michael Morse's Budget Plan: What Civilians Can and Can't Do Budgetwise, by Justin Katz
Economy
9:55 AM, 05/ 7/09
Gambling, of the Casino and of the Region, by Justin Katz
Multimedia
5:57 AM, 05/ 7/09
National Geographic Rains on the Global Warming Parade, by Monique Chartier
Environment
10:38 PM, 05/ 6/09
Run People With Roots, by Marc Comtois
Rhode Island GOP
7:20 PM, 05/ 6/09
Denouncing Nuts... of Two Kinds, by Justin Katz
Marriage & Family
12:23 PM, 05/ 6/09
May 7, 2009
"A brazen new era of government"
Donald B. Hawthorne
Dave Cribbin, quoted in yesterday's WSJ:
In the Chrysler deal, the [United Auto Workers] were unsecured creditors and the Chrysler bondholders were secured creditors. The bondholders received 28% of the value of their $6.9 billion in bonds in cash; the Union will receive stock worth approximately $4.2 billion, and a note for an additional $4.58 billion, which represents 82% of the value of their claim. Either the government negotiators have dyslexia and have made a terrible mistake in their paperwork, or this is political payoff writ large. Is this not the equivalent of financial waterboarding? And thus we enter a brazen new era of government, when the White House is openly complicit in the theft of, as a matter of fact is directing, the looting of private property from investors. Welcome to the Rule of Man, or as the President calls it, change we can believe in!
Which reminds us what Gerald Ford once said:
A government big enough to give you everything you want is a government big enough to take from you everything you have.
8:41 PM
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