An Open Letter to President Barack Obama: How to Tackle the Financial Crisis

Dear Mr. President-Elect:

The people of the United States have spoken. Their collective voice resonates loudly and overwhelmingly in praise of your vision and promises for America the beautiful.

Over the many voices, the chorus of a common refrain resounds: There is nothing we as a people cannot do if inspired by confidence in our president, honest and transparent democratic government, and equal opportunity in pursuit of our happiness.

Fundamental to our pursuit of happiness is confidence in the viability, integrity and safety of our capital markets institutions. The public’s confidence and reliance upon these institutions to create employment opportunity, to provide protection…

U.S. Automakers, Freddie Mac and Foreign Exporters Next in Line for Bailout Handouts

This week is shaping up to be another active one on the bailout-and-financing front.

First and foremost, Congress returns to work this week to consider a once-unthinkable proposal: Put up billions in taxpayer-backed loans so that Detroit’s “Big Three” can be saved. Expect a fight, however, as the bailout debate finally moves past banks to focus on General Motors Corp. (GM), Ford Motor Co. (F), and Chrysler Corp.

The situation is dire. GM is burning through cash at a pace that could mean bankruptcy, and all three players are struggling with high costs, weak vehicle sales, frozen credit lines and dwindling cash…