Today in Wonkery
Two articles worth reading.
8:12 AM, Sep 29, 2010 • By MATTHEW CONTINETTI
The new issue of National Affairs is out, which means it's time to read CCNY professor Daniel DiSalvo's piece on public sector unionism. DiSalvo explains the history of public sector unions, and the damage they've done to state finances. My favorite part:
Sometimes I wonder how FDR would react to today's liberalism. I think there would be a lot he'd dislike.
Also, economist Derek Kan has a great piece in the American on a troubling aspect of the financial regulation law. Kan worries that the law's "Orderly Liquidation Fund" will become a way for Congress to finance zombie companies with taxpayer money. Here's Kan:
Not to mention GM, which has resumed political giving despite being owned by the U.S. government. (Memo to Congressional Republicans: You may want to add a proposal to the Pledge that would forbid government-owned entities from participating in politics.) How long will GM be owned by the Treasury? Who knows! According to this report, GM's IPO, scheduled for November, will likely be smaller than anticipated, in order to "place more pressure on the government to win higher prices in future offerings." How about we place more pressure on the government to end the bailout(s)?
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