"I'm from the government and I'm here to help." Ronald Reagan said those nine words were the most terrifying in the English language. His attitude has long encapsulated the distinctively American view of government: However well-meaning, it was an institution not quite fully trusted. As a result,… Read more

We've all seen the television commercials for prescription drugs that come on during your favorite show. Some - for certain maladies rarely discussed at the family dinner table - have become standard grist for late-night comics. But beyond the jokes, there's a serious debate in Congress, where some are proposing that such… Read more

Is the federal government's "cash for clunkers" program a success? It has certainly been popular with car buyers, who have rushed to dealerships around the country to get their cars--and cash--under the program. In less than a week, the $1 billion put aside by Congress for the program has been… Read more

In May, as part of their reorganization in bankruptcy, both Chrysler and General Motors announced that they would terminate their contracts with many of the local auto dealers who sell their cars. Chrysler terminated nearly 800 dealers the next month, while GM informed 1,100 dealers that their contracts would end next year. The… Read more

Congratulations: If you are a U.S. taxpayer, you will soon be a part owner of a car company. Under the latest reorganization plan for General Motors, Uncle Sam would take ownership of 72.5 percent of the troubled automaker while providing an additional $30 billion in funds to the company. The proposed deal would give Washington… Read more

Over a month after formally announcing the plan, Treasury Secretary Timothy Geithner yesterday released details on his proposal for removing toxic assets from the balance sheets of banks and other financial institutions. The keystone of the program is the "Public-Private Investment Program" (PPIP), through which these so-called "toxic" or "legacy" assets would be… Read more

The much-anticipated debut of the Obama Administration's bank bailout plan was correctly viewed as a flop on both Wall Street and Capitol Hill. As announced Tuesday byTreasury Secretary Timothy Geithner, the plan is a grab bag of policies of doubtful effectiveness and uncertain consequences financed with $2 trillion or more in taxpayer dollars. To… Read more

With the Senate's rejection of a bailout for Detroit's ailing automakers, there comes word that President Bush is actively considering using funds allocated by Congress for the Troubled Asset Relief Program (TARP) to prop up the automakers for the time being.[1] Such action would be legally wrong, economically wrong, and counterproductive… Read more

Would Washington do a better job running the automobile industry than Detroit would? Taxpayers may be about to find out. Under legislation proposed yesterday by congressional leaders, Detroit-based automakers would be offered some $15 billion in federal low-interest loans. In return, they would be subject to unprecedented federal controls… Read more

Should Washington bail out Detroit? That is the question facing Congress as it reconvenes this week for a special post-election session. Nearly everyone agrees that, with losses piling up, Detroit automakers need to change the way they operate and change soon. The real issue is how best to… Read more