2008 was an apocalyptic year for the American car industry, with sales of Ford, General Motors, and Chrysler cars all falling by 25 percent. Supporters of the Big Three automakers argue that the government needs to provide Detroit with at least $50 billion in taxpayer money in order to save the American car industry, on top of the billions of federally subsidized loans they've already received. President Barack Obama agrees, having attacked John McCain during last year's presidential campaign for opposing a bailout of Detroit. But while many commenters and union advocates paint Detroit's economic troubles as a consequence of the financial crisis, necessitating its inclusion in the bailout sweepstakes, the financial troubles of the Big Three long predated the current mess. Indeed, in 2007, GM sold more cars and trucks than Toyota. Yet Toyota made almost $2,000 per vehicle while GM lost more than $1,000. So why does the United Auto Workers union and President Obama want taxpayers to reward Detroit—and punish her competitors—for making unprofitable cars?
The FBI Returned This Innocent Couple's Safe Deposit Box. It Refuses To Give Back Many Others—and Is Trying To Seize $85 Million in Cash.
"It makes me feel like the government is preying on the vulnerable and the weak to line their own pockets."
Indiana Said the Government Should Be Able To Take Everything You Own if You Commit a Drug Crime. The State Supreme Court Wasn't Having It.
After eight years, Tyson Timbs finally gets to keep his Land Rover—once and for all.
Why is it so hard for him to just admit he was wrong?
The FBI Took Their Safe Deposit Box and Everything Inside It. Two Months Later, They're Still Waiting for It To Be Returned.
"When you've done nothing wrong, you shouldn't be subjected to an investigation," says Paul Snitko, whose box was seized in a March 22 FBI raid of a Beverly Hills business.