Who can doubt that the recent announcement that a Chicago bankruptcy judge allowed United Airlines to unload its unfunded pension liability on the federal government is potentially the break in the dam for the next crisis of moral hazard a la the savings and loan fiasco of the 1980s? Can a similar taxpayer bailout of […]
Archives for June 2005
Whither Europe?
“This constitution is in its way, a daughter of French thought.”—French President Jacques Chirac. A very perceptive quote, for, in fact, the document in its essence is a direct derivative of the ideals of the “general will” as embodied in the thought of the French philosophes who formed the ideology that led to the French […]
The World’s Greatest Minority Party Folds Again
Question for the day—what is the most important issue of our time in America, except for national defense? Is it gasoline prices or energy policy, education, stem cell research, immigration policy, Social Security reform, universal health care, or any of the other weekly hot buttons of the polls and focus groups? No, it is none […]
Soft America Meets The New Realities
Previously, I have commented on Michael Barone’s book, Hard America, Soft America, which portrays the two different worlds occupied by those in our country who are products of the demands of competition (hard) versus those who have avoided or have not been subjected to such rigors in education, employment, and other walks of life (soft). […]