“Talk of Armageddon is ridiculous scare-mongering.”
–Harvard economist Jeffrey Miron, arguing in an oped that bankruptcy is a better option than a government bailout.
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Daily Outrage
Milking the taxpayers
Who: U.S. Sen. Herb Kohl, D-Wis.
What: Kohl secured an earmark of $178,740 for the Dairy Business Association, an industry organization comprised of dairy producers, corporate and allied industry supporters. The DBA promotes the growth and success of all dairy farms in Wisconsin by fostering a positive business and political environment.²
Why it’s an outrage: Why does a private industry group need taxpayer dollars to help it compete when it already gets money from wealthy corporations such a Monsanto and EcoLab?
Where to vent: Kohl’s Senate office: (202) 224-5653.
Dim Bulb
Who: Former Fannie Mae chairman Franklin Raines
What: A YouTube video shows Raines responding to congressional inquiries about why Fannie Mae’s capital reserves were allowed to fall below the minimum five percent requirement: “These investments are so riskless that the capital for holding them should be under two percent,” Raines replied.
Cure: Look up the definition of “risk.”
