CEI Today: Fannie Motors, Moody's public pensions report, Obamacare ruling, and more

Thursday, Oct. 2, 2014
In the News Today



Moody’s $2 Trillion Public Pension Shortfall Estimate Highlights Need for Better Pension Accounting Practices


In a new report, Moody’s estimates the nation’s largest pension funds face a $2 trillion taken together. That’s a lot of money. But as significant as the size of the deficit is Moody’s criticism of how many pension funds have been managed, and pension fund’s reporting of their own liabilities. > Read more

> Interview Ivan Osorio



Washington Free Beacon: Subprime Loans Are Back Thanks to GM


The banks may enjoy short-sighted profits as more cars leave the lots, but the system could come crashing down if borrowers begin to default. The trend of risky lending practices began with bailed-out GM.

The increase in securitization has coincided with GM’s acquisition of AmeriCredit, one of the nation’s largest subprime auto lenders, which it renamed GM Financial (GMF).

“It’s becoming Fannie Motors,” said Competitive Enterprise Institute finance scholar John Berlau. “They’re still using our tax dollars to break into exotic and money-losing propositions from Chevy Volts to subprime loans, both of which could literally and figuratively blow up in their faces.” > Read more

> Interview John Berlau




A federal court in Oklahoma ruled on Tuesday that IRS subsidies under Obamacare are illegal in states that didn't set up exchanges. CEI general counsel Sam Kazman commented on the ruling:

"Today's ruling by the federal district court in the Oklahoma Obamacare case is extremely encouraging. We are also pleased the court cited the Jonathan Gruber video, which CEI played a large role in publicizing, featuring Gruber's admission that, under the Affordable Care Act as written, states opting out of coverage would not receive federal subsidies." 

> Interview Sam Kazman

More in the news...


Can Europe Move Past Its Economic Malaise?

Are Consumers Smart Enough to Understand Airline Ancillary Fees?


New Mexico Workers and Industry Would Benefit from Right to Work - See more at: http://workplacechoice.org/#sthash.04F3Iq2B.dpuf

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Journalist Carrie Sheffield Selected as CEI’s Warren T. Brookes Journalism Fellow

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