Current Events

Bread and circuses

From this morning’s Wall Street Journal: ‘No’ Votes Came From All Directions The fatal “no” votes to the financial rescue package came from a strange-bedfellows coalition of lawmakers, from the most conservative to the most liberal members of the House, with a large number of representatives from low-income districts angry that Wall Street seems to […]

Current Events

At what cost, “NO”?

Without a Bailout Plan, What Will the Cost Be? – TIME By voting down the proposed $700 billion financial bailout package — and causing a spectacular stock market rout — a majority of members in the House of Representatives made a clear statement that they didn’t want to put taxpayers on the hook for the […]

Current Events

Bailout 101 (or how to mismarket a bill)

As I’m sure you’re all aware, the House of Representatives voted down the Emergency Economic Stabilization Act of 2008 (H.R. 3997) today. People have no idea how screwed we are if the EESA 2008 doesn’t get passed. “Bailout” was the worst marketing technique anyone could have chosen. The plan is not a taxpayer bailout of […]

Current Events

Bailout fails in House.

This nation’s economy is fucked … Republicans created this mess, Republicans came up with a solution to this mess, and yet Republicans are refusing to fix this mess, even though almost every thing the members of the House that revolted asked for was included in the bill being presented and voted. What are they thinking? […]

Current Events

Text of EESA 2008

Finally, the text of the proposed Emergency Economic Stabilization Act of 2008 (Adobe PDF) has been released. Summary as follows: The $700 billion would be disbursed in stages, with $250 billion made available immediately for the Treasury’s use. Curbs will be placed on the compensation of executives at companies that sell mortgage assets to Treasury. […]

Current Events

I can see Russia from my house!

Sarah Palin’s Foreign Policy credentials, based on Alaska’s proximity to Russia and Canada: Watch CBS Videos Online Yeah, yeah … it’s an old joke at this point. But the interview with Katie Couric is still important. Watch it. Listen to what Sarah Palin says. Do you really want this woman to be a heartbeat away […]