What's Hot
10/09/2012 - 12:03

FHA logoFederal housing policy, understandably, these last several years has focused on preventing mortgage foreclosures, not just on initiating them. Yet the Federal Housing Administration (FHA), despite efforts to stem the tide by the Obama administration, has grown into a fiscal black hole in the wake of the 2007-08 mortgage industry collapse and the subsequent tightening of credit standards for conventional loans. FHA-insured loans, according to a recent study, account for 30 percent of purchases of new homes and close to 20 percent of purchases of existing homes, far above historical norms. Many are at risk of foreclosure. 

4,045 reads
10/04/2012 - 10:45

Obama debate photoPresident Obama called for a "new economic patriotism" during last night's presidential debate. Well, hold on to your wallets as this new buzz phrase seems to be a euphemism for "wealth redistribution." Just ask old General Motors bondholders or non-unionized Delphi retirees about how Obama's so-called "shared sacrifices" are more about cronyism than patriotism.

4,496 reads
10/02/2012 - 23:06

A former student at the University of North Carolina has come forward publicly to call attention to the disturbing experiments the Environmental Protection Agency has conducted – and is likely still performing – at its Human Studies Facility in Chapel Hill, N.C.

Meanwhile Sen. James Inhofe (pictured), ranking minority member on the Environment and Public Works Committee, has requested that Chairman Barbara Boxer conduct a hearing about EPA’s activities during the current lame-duck session.

4,824 reads
10/02/2012 - 14:01

General Motors reported that it sold 2,851 Chevy Volts in September. The number is sure to be touted as a great success, even though the annualized rate of sale is still well below initial sales goals for the vehicle and nowhere near what conventionally-powered, mainstream cars sell. What is sure to be less publicized by the media is that the majority of the Volt "sales" were heavily subsidized leases that are costing taxpayers millions of dollars.

8,456 reads
10/02/2012 - 13:00

Volt and Embassy officialThe U.S. military's newspaper, Stars & Stripes, recently reported that the Pentagon is buying Chevy Volts in a 1,500 electric-vehicle purchase, as part of the Defense Department's "green initiatives," which seek to reduce the country's dependence on foreign energy sources.

A recent Congressional Budget Office study challenged the assumption that electric vehicles have any impact on such dependence, prompting the question of why the government is spending money this way. Against the backdrop of the attack on our embassy in Benghazi, and looming embassy security cuts due to sequestration, it appears politics and ideology are trumping common sense.

9,037 reads
09/28/2012 - 12:28

USDA logoWhether as heads of corporations or government agencies, white executives can be counted upon to grovel if they or their organizations stand accused of discrimination. Such especially is the case with Secretary of Agriculture Tom Vilsack, whose capacity for fecklessness in the face of his accusers is almost limitless. And not for the first time, his timidity will cost taxpayers. On Monday, September 24, Vilsack announced that Hispanic and women farmers who believe they were unjustly denied grants or credit by the U.S. Department of Agriculture (USDA) can file claims over a six-month period, effective immediately, for cash awards and/or tax relief totaling at least $1.33 billion, plus up to $160 million in debt relief.

4,091 reads
09/26/2012 - 07:45

Fisker logoIt’s been six months since the taxpayer-subsidized ($193 million) Fisker Karma broke down at the test facilities of Consumer Reports before the publication could even take it for a review spin, but now the researchers have finally been able to put the luxury electric car through its paces and their assessment is complete.

Verdict: fail.

Why did it take so long for the car loved by Leonardo DiCaprio, Justin Bieber and Al Gore to get the full evaluation? Consumer Reports explains:

5,791 reads
09/25/2012 - 08:05

Lisa JacksonAfter accumulating evidence via the Freedom of Information Act that showed the Environmental Protection Agency conducted disturbing experiments that exposed humans to inhalable particulates the agency has said are deadly, sound science advocate Steven Milloy has sued the federal government

15,277 reads
09/24/2012 - 14:34

T.J. Bonner Terence "T.J." Bonner (see photo) headed a union that guards our borders from illegal entries from Mexico and Canada. Unfortunately, for years he allegedly engaged in illegal entries of his own - in the union's coffers and books. On August 16, a San Diego federal grand jury indicted Bonner on 11 counts of wire fraud and one count of conspiracy for his diversion of hundreds of thousands of dollars from the National Border Patrol Council (NBPC) for his own use. Until his retirement last year, Bonner had headed the council for more than two decades.

2,934 reads
09/24/2012 - 08:01

Frito Lay Electric TruckThe failing British electric vehicle company that pretended to become an American one in order to save its U.K. investors has scrapped its planned initial public offering that it hoped would save it in Kansas City.

Smith Electric Vehicles, recipient of $32 million in taxpayer stimulus, had reportedly fantasized it would raise $76 million (down from $125 million) via an IPO by selling roughly 4 ½ million shares at $16 to $18 each. CEO Bryan Hansel bowed to reality Thursday night and rescinded those plans.

3,175 reads
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