WSJ | Federal Reserve Chairman Ben Bernanke ruled out the possibility of a Federal Reserve bailout of state and local governments, despite the large debt burden many states are facing. The chairman said the Fed had limited authority to help the situation.
John Galt is our fearless leader. Before founding The Galt Report, Galt worked as an engineer for the Twentieth Century Motor Company, where he secretly invented a generator of usable electric energy from ambient static electricity, but abandoned his prototype, and his employment, when dissatisfied by an easily corrupted novel system of payment. This prototype was found by Dagny Taggart and Hank Rearden. Galt himself remains concealed in a remote valley, where he unites the most skillful inventors and business leaders under his leadership.