The followers of Shiite Cleric Muqtada al-Sadr may not like it, but the Iraqi National Assembly is now preparing to vote on the U.S.-Iraq Status of Forces Agreement, and it looks as though they'll pass it. So the question is - what next? And what will the election of Barack Obama mean to the Iraqi calculus? Continuing with our coverage of the war from the Iraqi point of … [Read more...] about Obama’s Election Makes ‘Fatal Blow’ Against Kurds Possible: Kitabat of Iraq
Joe Nocera: The Way Out is to Help the Homeowners
NYTimes business columnist Joe Nocera was a finalist for the Pulitzer Prize in commentary last year. His latest book, Good Guys and Bad Guys: Behind the Scenes with the Saints and Scoundrels of American Business (and Everything in Between), is a collection of his business writing. Nocera believes we can't solve the financial crisis without addressing the problem that people … [Read more...] about Joe Nocera: The Way Out is to Help the Homeowners
Thoughts On The Economic Team: Right And Wrong
Obama has officially unveiled his economic team to generally positive reviews from people I often agree with (e.g. here and here) considering their mainstream nature. Both Summers and Geithner are near the top of the list when it comes to pragmatic capitalists. Summers was very influential in the Clinton Administration; he served as the Secretary of the Treasury and was on the … [Read more...] about Thoughts On The Economic Team: Right And Wrong
Forward Thinking Only
It's dangerous to assume that we can actually see the future by only looking at the technological advances we've made so far. -- Octavia Butler (1947 - 2006), Hugo and Nebula award winning science fiction author I thought of those words that Ms. Butler made at panel discussion at UCLA in 2002 as I watched the MSNBC Morning Joe crew debate the Citigroup bailout and the … [Read more...] about Forward Thinking Only
Citigroup’s Bailout Fiasco
While Wall Street and stock investors smile with relief, Main Street grimaces in pain. The government plowing $20 billion into Citigroup to forestall collapse is another example of throwing good money after bad. President Bush and his economic advisers said the company is too large to fail. "It would create chaos," said Winson Fong, managing director at SG Asset Management … [Read more...] about Citigroup’s Bailout Fiasco
Rock On, Accolade!
Very busy day today, which explains a lack of posting on my part, but let me refer you to an interesting article in the Times: As Taboos Ease, Saudi Girl Group Dares to Rock It's about an all-girl rock group in a country that doesn't much care for girls or rock: They cannot perform in public. They cannot pose for album cover photographs. Even their jam sessions are … [Read more...] about Rock On, Accolade!
Greener Pastures
If most American Catholics are pro-choice, what will they do if the Church hierarchy decides that a vote for the Freedom of Choice Act is grounds for "automatic excommunication"? … [Read more...] about Greener Pastures
Rethinking Risk
In all the replays of what went wrong with the economy, the recurring theme is the failure of risk management--by the government, Wall Street and overreaching home buyers. Over the weekend, we get disheartening replays of how the Bush Administration abdicated responsibility for regulation and how greedy hotshots at Citibank created a mess that taxpayers will now have to … [Read more...] about Rethinking Risk
The Bestest Harvard Law Review Article Ever
I mean, it'd be good anyway, but footnote 19 catapults it into legendary status. … [Read more...] about The Bestest Harvard Law Review Article Ever
Election 2012: The Really Early Line
It is something of a truism of modern American politics that the next campaign begins right after the polls close on the last one. This may be something of an exaggeration but we are already hearing whispers about who might run for the Republicans and even speculation as to whether or not Biden might choose to retire in 2013. At the risk of encouraging this kind of early … [Read more...] about Election 2012: The Really Early Line
Obama Administration: Revenge Of The Bush 41 Administration?
Much is being made of the incoming Obama administration's close ties to people associated with former President Bill Clinton's administration and with Senator Hillary Clinton -- but three's another close association coming in a bit more under the radar: the incoming administration has close ties to people who were associated with the administration of the first, more moderate … [Read more...] about Obama Administration: Revenge Of The Bush 41 Administration?
The $7.4 Trillion “Savior”
Well we just gave Citigroup $325 billion. Sure $300 billion is only to cover "potential" losses, but if you believe that the vast majority of that hasn't already been lost, I have a billion dollars of great sub-prime securities for sale -- the opportunity of a lifetime! Joe posted a link to a shouting match between Cavuto and Ben Stein, and it was claimed that the idea we've … [Read more...] about The $7.4 Trillion “Savior”
Pakistan’s Musharraf: House-Hunting in London?
Pakistan's former military dictator Pervez Musharraf arrived in London on Sunday. This is his first visit abroad after he resigned from the post of president to escape imminent impeachment in August this year. India's leading TV channel NDTV reports that "Musharraf's visit comes amidst much speculation that he is planning on settling in the UK and is not intending to return … [Read more...] about Pakistan’s Musharraf: House-Hunting in London?
Gift Giving
Yaakov Kirschen, The Jerusalem Post, Dry Bones … [Read more...] about Gift Giving
Bill Kristol’s “Admit We Don’t Know.”
Bill Kristol tries to fill the shoes of 2008 Nobel Prize winner in Economic Sciences, Paul Krugman, in the New York Times this morning, by writing "Admit We Don't Know," which obviously includes Kristol himself. If you have missed the column, don't worry. Here's an extended summary: Schumer doesn't know how big the stimulus package should be. No one else does: "It’s … [Read more...] about Bill Kristol’s “Admit We Don’t Know.”
Citigroup Bailout and the Chance to Change US for the Better
[UPDATE: Please note that I neither endorse nor condemn the Citi bailout here, only comment on the opportunities presented by the financial crisis we now face.] My grandfather, a small business entrepreneur, used to say, "Borrow a thousand dollars from the bank and the bank owns you; borrow a hundred thousand from the bank and you own the bank." The times were simpler … [Read more...] about Citigroup Bailout and the Chance to Change US for the Better
Obama Win Could Cost Colombia Dearly: Semana of Colombia
After Colombian President Uribe's embarrassingly obvious support for Republican John McCain during his campaign for the U.S. presidency, the people of that country are now grappling with the damage that such support is likely to have done to relations with President-elect Obama's Administration. Beyond the likely negative impact on the much-hoped for U.S.-Colombia Free … [Read more...] about Obama Win Could Cost Colombia Dearly: Semana of Colombia
Saxby’s Smarmy Campaign: Just Like the Last Time
Steve Benen describes the low blow: Over the last few days, both the National Republican Senatorial Committee and a far-right group called Freedom's Watch have both launched ads attacking Democrat Jim Martin for being "soft on crime." More specifically, the conservatives insist that Martin has opposed measures that would crack down on criminals who prey on children. Of all … [Read more...] about Saxby’s Smarmy Campaign: Just Like the Last Time
Can Obama Stop the Panic?
The Lame Duck has laid an egg on the economy, and nothing better can hatch until he gets out of the nest. Tomorrow the President-in-Waiting-Who-Can't-Afford-to-Wait will announce his financial dream team and game plan as panic buttons are being pushed all over the world. *On Meet the Press, Bush family Consigliere James Baker, who muscled W. into office in 2000, now … [Read more...] about Can Obama Stop the Panic?
What Awaits The New President “Over There”
David Schraub's "Leave the land so we won't rape you," quoting a female Egyptian “human rights” attorney, who made that statement "in the course of urging Arab men to, at the very least, sexually harass Israeli women as part of their “resistance” to Zionism," prompted me to go back to the Sunday Opinion section of my New York Times today. I had read similarly outrageous … [Read more...] about What Awaits The New President “Over There”