This summer, the IRS rewarded Nicolas Cage for his “efforts” with a $6 million tax lien on his New Orleans’ properties for unpaid taxes. So the IRS, lead by tax cheat Timothy Geithner, is cracking down on Nicolas Cage for unpaid taxes. How ironic. Or perhaps, “how fitting” would be a better way to put it. After all, I think Tim Geithner, our spend-happy congress, the Federal Reserve, George Bush and Barack Obama can give Nicolas Cage a run for his money (what little is left of it) when it comes to irresponsible spending. Honestly, look at what our government has been doing:

Social costs are not being reduced by the bailout, they’re being dispersed: to the taxpayer, to everyone who earns or saves the U.S. dollar and to unborn generations of Americans.

I don’t hope for GM to fail, but for some reason, I snickered during this commercial.

Choice quote:

“This is not about going out of business. This is about getting down to business. Because the only chapter we’re focused on, is chapter one.”

As General Motors (GM) inches toward bankruptcy, hear one GM bond holder’s take on the restructuring negotiations. A bond holder is an investor who loans money to a firm or government, and receives recurring interest payments. Bond holders are considered unsecured creditors of a company. In the event of a bankruptcy, bond holders are paid off before stockholders, but not before secured creditors who have claims on specific assets like real estate.