Fannie & Freddie: Why Should You Care?: Fannie Mae reported a loss of $25.2 billion for the fourth quarter of 2008 (losses of $58.7 billion for full-year 2008). Total nonperforming loans were $119.2 billion at year-end. Fannie is requesting additional capital from the U.S Treasury. The other gargantuan government-sponsored enterprise, Freddie Mac is likewise running up billions of dollars in losses. Freddie is preparing to ask for additional capital from the U.S Treasury of $35 billion.
ACORN Mob Teams Up With L.A. Teachers: As if ACORN's shakedown artists and thugs weren't causing enough trouble, now they're occupying public school board meeting rooms to prevent government educators from cutting costs, firing useless teachers, and dealing with financial realities.
Rep. Ron Paul on Earmarks: In a recent floor speech, Rep. Ron Paul discusses earmarks and transparency in Government spending.
Congressman Michael Burgess Interview: Many thanks to Congressman Michael Burgess for sitting down for an interview yesterday with the ALG News Bureau. Also, thank you Alan Nathan, host of Battle Line with Alan Nathan, for conducting the interview and helping with a lot of stuff in the set up process!
Commerce Department--Third Time is the Charm!: Poor President Obama. Already he has tried twice to fill the position of Commerce Secretary—and twice he has failed.
Today's cartoon comes from the post, The New Special Relationship.
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