How bad is the U.S.'s current economic crisis? So bad that news stories now emerging detail mega-grim, catastrophic scenarios Treasury Secretary Henry Paulson and Federal Reserve Chair Ben Bernanke laid out for lawmakers from both parties yesterday -- scenarios that have spurred members of both parties to put aside differences and move quickly to act on proposed … [Read more...] about Lawmakers Warned Wall Street Crisis So Bad Economy Could Literally Die
NATIONALIZATIONS on Wall Street
Patrick Chappatte, NZZ am Sonntag … [Read more...] about NATIONALIZATIONS on Wall Street
Anybody Else Have Whiplash?
My pension monies are split between five different funds, each comprising 20% of the total portfolio. On Tuesday night, I checked how the funds were going and found that I had lost a total of $19,000 since the start of the third quarter. When I logged back on today, I learned that because of the market's response to the bailout initiative announced by Henry Paulson and Ben … [Read more...] about Anybody Else Have Whiplash?
Jimmy Carter & Bob Barr seek Clemency for Troy Anthony Davis (UPDATED)
LATER: Bob Herbert writing in the NYTimes, "Rushing to execute Mr. Davis on Tuesday makes no sense at all." ---------- With a scant four days left before the scheduled execution of Troy Anthony Davis, Jimmy Carter & Bob Barr have called on Georgia's Board of Pardons and Parole to reverse its decision to deny clemency: The Carter Center released a letter Friday urging the … [Read more...] about Jimmy Carter & Bob Barr seek Clemency for Troy Anthony Davis (UPDATED)
Fox News To McCain Campaign: The Political Opposite Of Global Warming
You-know-where has apparently frozen over. Fox News has sent the presidential campaign of Republican Sen. John McCain a cease-and-desist letter. the Politico reports: Fox News sent a cease and desist letter to the McCain campaign today over a new ad that includes the voice of correspondent Major Garrett, according to a letter obtained by Politico. From the letter sent to … [Read more...] about Fox News To McCain Campaign: The Political Opposite Of Global Warming
Wall Street Deregulation
RJ Matson, The St. Louis Post Dispatch … [Read more...] about Wall Street Deregulation
Bill Touts McCain, Palin, Hillary and…
"Slimy elder statesman" is the apt description for the former President's latest foray into this year's election as he calls John McCain "a great man," Sarah Palin an "instinctively effective candidate" and says that Hillary Clinton is offering "the most detailed position" on what to do about the financial crisis. And the other guys? "I've never concealed my admiration and … [Read more...] about Bill Touts McCain, Palin, Hillary and…
Ugly People in an Ugly World
I feel a need to preface this by stipulating the following: When it comes to the divisive national issue of abortion, I am reluctantly pro-choice, while finding myself supportive of certain sensible restrictions and limitations on the practice. Further, I understand that not everyone will make the choice to give birth to a child if they know ahead of time that it will be … [Read more...] about Ugly People in an Ugly World
Report: Biology May Shape Political Views
The Chronicle: If conservatives and liberals can't see eye to eye, it may be because their brains are wired differently from birth, according to researchers who have for the first time found a link between people's political leanings and their physiology. The researchers' report, published in today's issue of the journal Science, suggests that genetic differences may help … [Read more...] about Report: Biology May Shape Political Views
Is The McCain Campaign Playing The Race Card?
The issue of whether the campaign of Republican Presidential candidate John McCain is trying to subtly play the race card against Democrat Sen. Barack Obama has now reared its ugly -- and highly controversial -- head. It's an issue now that is being raised by at least one mainstream news media organization, as well as by bloggers and even some blog readers. The issue … [Read more...] about Is The McCain Campaign Playing The Race Card?
Banks Saved, Government Solvency Lost
The above should be the headline for what Paulson's Gang hath wrought today. In order to get ahead of a banking crisis hurtling down the tracks, our government has been tied to the tracks in front of this out-of-control train. When the markets (and much of the country) wakes up from the one- or two-day market drunk this move generates, truly horrid realizations will come to the … [Read more...] about Banks Saved, Government Solvency Lost
McCain and Regulation
When people are talking about the presidential campaign and the current Wall Street meltdown, most of them have stated that McCain has always been for less regulation. The Obama campaign has also done the same thing: painting McCain as a doctrinaire free-marketeer. However, that is not the whole story. Yes, McCain tends to skew towards less regulation (he is a Republican, … [Read more...] about McCain and Regulation
Moral Hazard: Lessons of Parenthood
Perhaps the most egregious consequence of the Mother of All Bailouts (MOAB) is the moral hazard generated on Wall Street. After all, if you make poor investment decisions, now there will be NO consequences as the government will swoop in and take your risk away. Of course, you can keep all the profits in the meantime. Now, you can only do this if you are Too Big To Fail … [Read more...] about Moral Hazard: Lessons of Parenthood
SEC Restricts Short Sales of Financials — What That Means
The SEC has temporarily banned short-selling of 799 financial stocks. Maybe you don't know what short-selling is. Here's the funny explanation first: Now here's the not-so-funny explanation. Essentially, buying a stock is betting the price will go up. Short-selling is selling shares you don't actually have, betting the price will go down, and you can "buy to cover" … [Read more...] about SEC Restricts Short Sales of Financials — What That Means
Political Psychologists: Scaring and Lying to Voters works
There have been a couple of interesting studies published in the last week that may shed some light on why, despite promises for clean and issues-based campaigns, our elections always turn to gutter politics. The short answer: It works. First, from ABC news: In the study, released Thursday in the journal Science, Rice University professor of political science John Alford … [Read more...] about Political Psychologists: Scaring and Lying to Voters works
Who Am I?
One of my bosses emailed the following to me this morning. It's interesting enough I thought I'd share it -- running the risk that others may have already posted it here, and I (embarrassingly, as an editor) missed it. Who Am I? I am under 45 years old, I love the outdoors, I hunt, I am a Republican reformer, I have taken on the Republican Party establishment, I … [Read more...] about Who Am I?
Shadows of 2000
Even today, I remember -- with a dull shiver skipping down my spine -- the aftermath of the 2000 presidential election. The persistent questions about who really won. The nagging uncertainty about the integrity of our electoral system. The recounts. The protests. The finger-pointing. If Nate Silver's predictive models are right, get ready for a much more contentious and … [Read more...] about Shadows of 2000
Great Moments In Journalism
This wasn't one of them. … [Read more...] about Great Moments In Journalism
George Bush’s Third Vanishing Act
Forget about Where's Waldo. Where has President George W. Bush been? Some, including The Politico's Roger Simon, have been asking that question: Where’s George? The president, I mean. You remember him. Dubya. No. 43. Won a second term a few years ago. It was in all the papers. But where has he been lately? Where has he been during America’s worst financial crisis … [Read more...] about George Bush’s Third Vanishing Act
Microsoft’s New “I’m a PC” Ads
Kara Swisher says the post-Seinfeld Microsoft's ads are a vast improvement. She gives them a rhetorical Most Improved Award (It Wasn’t Hard Though): The message is aimed at attacking the more elitist message of Apple (AAPL) ads, which have effectively mocked PC guy relentlessly over the years as an oaf. In Microsoft’s ads, its own PC guy complains at the start of each that … [Read more...] about Microsoft’s New “I’m a PC” Ads