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
I Gots For You A Brand New Gas Guzzling Chebby Pickmeup Truck in Parachute Gold
We have lost control. We cannot stabilize the dollar. We cannot control commodity prices. -- BEN BERNANKE While, as an American taxpayer, I am extremely proud to now own an insurance company and plan to lower everyone's rates just as soon as I have a chance, the ongoing economic crisis has a different -- and decidedly creepy -- feel to it than those in the recent … [Read more...] about I Gots For You A Brand New Gas Guzzling Chebby Pickmeup Truck in Parachute Gold
Bill Clinton Changes His Tune On Barack Obama
‘The Savior Projection’: Sarah Palin, Barack Obama, John McCain, Joe Biden, Bob Barr
Putting The Culture On The Couch: 'The Savior Projection' Onto Politicians Running For High Office We all do it when we are first in love: idealize 'the other,' seeing them as both 'the I and the Thou'... not keeping much of a personal self, but somehow merging with an over-idealized vision of beauty and perfection we project onto this other soul... That flush of enormous … [Read more...] about ‘The Savior Projection’: Sarah Palin, Barack Obama, John McCain, Joe Biden, Bob Barr
Barr Seeks To Toss McCain and Obama Off Texas Ballot
Libertarian Presidential candidate Bob Barr is seeking to have his fellow candidates tossed off of the Texas ballot on the grounds that they failed to comply with Texas law. The Texas secretary of state has said that they certified the ballot on September 3rd and that all candidates qualified. But the Texas Supreme Court did not automatically reject the lawsuit, instead … [Read more...] about Barr Seeks To Toss McCain and Obama Off Texas Ballot
On McCain’s Call For The Firing Of SEC Chairman Chris Cox
There's much to criticize -- but are people criticizing the wrong things? Today's MUST READ by Professor Stephen Bainbridge. … [Read more...] about On McCain’s Call For The Firing Of SEC Chairman Chris Cox
The Only Thing We Have To Fear
David Fitzsimmons, The Arizona Star … [Read more...] about The Only Thing We Have To Fear
Republican Hagel Says Palin Not Ready For Higher Office
Republican Senator Chuck Hagel is a friend of Republican Presidential candidate Sen. John McCain, and the independent-minded Hagel is highly-regarded by some independent voters. Hagel has now made some blistering comments about McCain's selection of Gov. Sarah Palin as his Vice Presidential running mate -- comments that are likely to add to the growing negative image of Palin … [Read more...] about Republican Hagel Says Palin Not Ready For Higher Office
MOAB – Mother of All Bailouts
In the midst of Wall Street's fourth straight troubling day came rumors of a massive Congressional bailout plan to purchase troubled assets from all banks and dispose of them. Rumors of this plan emerged when Democratic Senator Chuck Schumer spoke of it on the Senate floor this afternoon. Suddenly, the Dow skyrocketed 600 points from its daily low to close at 410 points up. … [Read more...] about MOAB – Mother of All Bailouts
Wall Street Bail-Outs
RJ Matson, The St. Louis Post Dispatch … [Read more...] about Wall Street Bail-Outs
Palin: ‘George W. with Two X Chromosomes’ – From Nachrichten of Switzerland
[Guardian Unlimited, U.K.] So what is that very special something that makes Republicans near Sarah Palin behave as though they've eaten catnip? Patrik Etschmayer of Switzerland's Nachrichten newspaper thinks he has the answer - an answer that will no doubt create some controversy. Of women in politics, Etschmayer writes in part: "A man who criticizes a female … [Read more...] about Palin: ‘George W. with Two X Chromosomes’ – From Nachrichten of Switzerland