Capping pay would further mar economy

President Barack Obama has announced a cap of $500,000 a year on the pay of senior executives at distressed financial institutions that receive bailout money deemed “exceptional assistance” from the taxpayers via the federal government. This is an understandable move considering the circumstances, but it carries some dangers. One can understand the populist impulse behind […]

GI Bill affected by financial crisis

By Tom Philpott: CNJ columnist The worldwide financial crisis has hit private colleges hard enough that relatively few are likely to participate in the Post-9/11 GI Bill’s “Yellow Ribbon” initiative when it begins this fall, says Keith M. Wilson, director of education service for the Veterans Benefits Administration. Under the Yellow Ribbon program, private colleges […]

Finance program coming to Pleasant Hill

Freedom New Mexico Financial Peace University’s 13-week finance program is coming to Pleasant Hill. FPU has helped more than 650,000 families positively change their financial future, according to a news release. The program teaches families and individuals how to handle their money through common-sense principles and small group accountability. Each class participant needs a kit. […]

Albuquerque Journal halts local home deliveries

By Gabriel Monte: CNJ staff writer Falling on hard financial times, the Albuquerque Journal is canceling distribution of its paper to more than 30 New Mexico towns including Clovis, Portales and Tucumcari. The paper will terminate home delivery and rack sales in outlying communities on Jan. 31 because of falling advertising revenue and rising production […]

Feds double up on bad financial hand

Freedom New Mexico This month’s announcement by the Federal Reserve Board that it has cut its benchmark overnight federal funds rate, the rate at which banks lend to one another, to a “target range” of between one-quarter percent and zero is both an acknowledgment of reality and a sign of panic. Since banks, even in […]

City official: Investments haven’t been affected adversely

By Eric Butler: Freedom New Mexico Correspondent In unsteady economic times, it was a natural question from Commissioner Robert Sandoval. As city of Clovis chief budget officer Don Clifton presented his financial report of the city’s investments, Sandoval wanted to know how the recent Wall Street downturn affected the municipality. Clifton’s response at Thursday’s regular […]

Financial crisis’ effects must be suffered

Freedom New Mexico If anyone doubted that we live in an interconnected and globalized world, the swift

Market destroyed by government

By Tibor Machan: Freedom New Mexico columnist Most likely, President George W. Bush was prevaricating, not confused, when he stated, looking straight at the audience listening to his speech about the financial disaster, “The market is not functioning properly.” That’s because he — or his advisers — must know the American economy is not a […]

Banks should have been held accountable

Freedom New Mexico Last week the financial industry was

Udall addresses key issues

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Courtesy photo Rep. Tom Udall is running for the seat currently held by Sen. Pete Domenici, R-N.M., who is retiring. Rep. Tom Udall addressed the Eastern New Mexico University Board of Regents on Friday during a visit to the area. Udall, D-N.M., touched on legislative appropriations that would help eastern New Mexico, noting he serves […]