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Pressure Lending

December 22nd, 2008
By Lee Blum
Many are up in arms about President Bush’s decision to allocate up to $17.4 billion of TARP money to the U.S. automakers, and rightly so. However, this only represents about 5 percent of the first $350 billion of TARP funds. The real issue at hand is why the economy, and specifically credit markets, has yet to improve despite all of the government’s efforts. Read More

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A Test for Obama and the World

December 6th, 2008
By Lee Blum
“Watch, we’re gonna have an international crisis, a generated crisis, to test the mettle of this guy.” Vice President-Elect Joe Biden said these words only several weeks ago and it seems, at least in part, that his prophecy has come true. The recent terrorist attacks in Mumbai, India are really a test for not only President-Elect Obama, but for the world. The manner in which all parties involved choose to respond to these attacks may well determine the course of the War on Terror. Read More

Three Cheers for Chapter 11

November 24th, 2008
By Lee Blum
This week the CEO’s of the Big Three (GM, Ford and Chrysler) begged Congress for money, as they flew into Washington on their private jets. Congress has correctly denied funding and now the Big Three are left on their own. However, Congress should help out U.S. auto manufacturers, but not by providing them money outright. Congress should promote Chapter 11 bankruptcy by the automakers, encourage them to revamp their business models and provide adequate funding and programs for any employees adversely affected by the bankruptcy. Read More

We’re Not Ready To Turn Left

November 12th, 2008
By Lee Blum
Barack Obama’s win was undoubtedly a proud moment for all Americans, regardless of where you may fall on the political spectrum. The Democratic wins for control of both the executive and legislative branches are a rebuke of the previous years of Republican control. However, Lee Blum urges us to remember that Obama was elected not only as the “change” candidate, but as the pragmatic candidate. And in spite of the Democratic wins, this country is not really as liberal as many on the extreme left may believe. Read More