Posts Tagged ‘Federal Housing Administration’

Robert  Higgs

Billionaire Entrepreneur Complains of Regime Uncertainty

by Robert Higgs

Speaking to CNBC in Las Vegas recently, Steve Wynn, the billionaire developer and operator of entertainment properties, said: “Washington is unpredictable these days. No one has any idea what’s next . . . the uncertainty of the business climate in America is frightening, frightening to everybody, and it’s delaying recovery.” Wynn complains of “wild, uncontrolled spending” and “unbelievable, unsustainable debt.”

Wynn also has operations in China, and he remarks that he “has no qualms about dealing with the Chinese government. Macau has been steady. The shocking, unexpected government is the one in Washington.” Not very long ago, such a statement would itself have been shocking.

The gambling and real estate magnate expresses concerns about inflation, Federal Housing Administration’s making the same mistakes Fannie and Freddie have made, and the business costs arising from the new health-care law. “We’re on our way to Greece,” he declares, “in the hands of a confused, foolish government.” Exasperated, he mutters, “It’s got to stop. It’s got to stop.”

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The Pork Report

Pork Report November 17, 2009: Post Office Edition

by The Pork Report

The U.S. Postal Service lost $3.8 billion last year

Winery receives federal stimulus grant

Musicians more effective communicating in noisy environments than non-musicians, according to findings of a National Science Foundation study

Only 20 percent of Americans hold positive view of government

Research company receives millions of dollars of congressional earmarks and has nothing to show for it

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The Pork Report

The Pork Report: October 9, 2009

by The Pork Report

Senator Byrd earmarks $5 million in Defense funds for a company that no longer exists

House committee earmarks $103 million of Defense funds to contractors who employ the congressmen’s former staffers-turned-lobbyists

National Science Foundation studies the bug splatter on the front bumper of a moving vehicle

National Historic Site in Maryland created by a congressional earmark costs $638,000 a year and has fewer visitors than some Alaskan parks that can’t even be reached by road

New USDA research agency already wants more money

Like Fannie Mae and Freddie Mac, the Federal Housing Administration might need a federal bailout

Most Interior Department law enforcement programs can not accurately account for the firearms under their control and some of their guns are vulnerable to theft

Bureau of Land Management employees too cozy with special interest groups and lobbyists, according to the Inspector General

A new computer system key to the nation’s air traffic control system has already run into problems, raising doubts about whether it can be operational when the current computers must be replaced

California has paid more than $8 million in late-payment penalties over the last two years because Sacramento did not pay the bills when they were owed