Matters Financial

12 January 2004


White House Considering State-Owned Oil Company for Iraq
No less a source than the Wall Street Journal has reported that the pro-market Bush White House is considering a national oil monopoly for conquered Iraq. A front page report by Chip Cummins last Wednesday said that practicality was going to beat out ideology, that Iraq would have a national oil company like Saudi Arabia and Kuwait. Republicans admitting that the market is not always practical? Will wonders never cease?Click here to read more.

Labor Department Advises Firms on Beating Overtime Requirements
Overtime pay for working more than 40 hours in a single week is one of the benefits organized labor has brought to its members, and indeed, the entire American economy. However, the US Labor Department appears in need of a name change to the Department of Management, since it has advised businesses on how to avoid paying overtime. So much for a neutral federal government. Click here to read more.

Judge Prevents Lea Fastow Plea Bargain in Enron Mess
Once again, the ego of a judge and the delusion that the judiciary is non-political have combined to prevent the business of the people from getting done. Lea Fastow, former assistant treasurer of bankrupt Enron, and her lawyers had made a deal with the prosecution in her case. Judge David Hittner decided that the deal wasn't good enough and that he needed to interfere. Now, there's no deal, the people of Texas will get to pay for a trail, and the case against those higher up at Enron will be tougher to make. Click here for our view.