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Stimulus Doesn’t Stimulate, It Redistributes

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Stimulus Doesn’t Stimulate, It Redistributes

As the American Recovery and Reinvestment Act continues to pour massive amounts of stimulus money into the economy, some European governments have—in a move quite out of character—started to call for austerity measures in regard to government expenditures. Spain’s government has recently changed its position from one of increasing government stimulus, to one of reducing […]

A Hero Speaks Up for Hedge Funds

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A Hero Speaks Up for Hedge Funds

In the past months, Washington has used its pull over and over to force businessmen to buy into its programs. From cornering banks into accepting TARP money to firing GM’s CEO to insisting that AIG employees return their contractually guaranteed retention bonus—Washington has demanded and businessmen have acquiesced. So it has been with Washington’s latest […]

Obama, No Take-Backs

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Obama, No Take-Backs

The Washington Post recently reported that the federal government has changed the rules of the $1 trillion program to relieve banks of toxic assets. President Obama’s administration is back-pedalling on promises it made to financial institutions only a month ago that they would not face executive compensation restrictions—ala AIG bonuses—if they participated in the program. […]