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a little night musing's picture

Paul Krugman says "Yo' mama"

Explaining why the latest floated plan from Obama's "top economic advisors" (is that you, Timmy and Larry?) doesn't make sense.

The proposal is to "stretch" (the NYTimes' word) the bailout funds by converting the existing loans to the biggest banks into common stock. This turns the loans into capital for the banks, thus improving their balance sheets, and good things ensue (or so we are told). Because, uh-oh! the stress test are expected to show that some big banks, including my own personal parasite BoA, are in need of more capital. (I know the feeling!)

Quoth the Times: Read more about Paul Krugman says "Yo' mama"

Bankster of the Day

So very many to choose from in this terrific New York article, but this anonymous bankster is my very favorite: Read more about Bankster of the Day

vastleft's picture

When is MySQL not MySQL?

Nouriel Roubini interview at Consumer Reports

Here are some videos from the Consumer Reports sit down session with the good doctor. The first three sessions are up in video form with the other parts to follow in the next few days.

Part 1) It's not all Bad News

Part 2) On surviving the next year

Part 3) On falling prices and deflation

The videos run between 2 1/2 to 3 min each.

(hat tip The Consumerist) Read more about Nouriel Roubini interview at Consumer Reports

connecticut man1's picture

Congressionally Approved Torture Tools for Lobbying

Since both the White House and Congress no longer consider prosecuting torture as a crime, it is safe to assume that we can begin to legally use these methods as legitimate tools to lobby our Congress and White House for the real changes we expect from our government. These methods that I document will be equally applicable to those who lobby against the interests of average American citizen on these issues.

Congressionally Approved Method of Lobbying #1 Read more about Congressionally Approved Torture Tools for Lobbying

vastleft's picture

Die, Grandpa, die!

Don't you hate us Baby Boomers and our dreadful opposition to marijuana decriminalization and gay rights? Alas, we're not dead yet. Read more about Die, Grandpa, die!

Yglesias, on Harmon, nails it

Here:

Surveillance and political corruption
... Thinking about that further reenforces the point that selective, unaccountable surveillance is very dangerous. A president could do a great deal to gin up pretexts to wiretap members of congress and blackmail them even without the members doing anything unusually egregious.

AFRICOM mercs?

Well, so much for the "green shoots"

If you took the under on the leading indicators, pass Go and collect!

But for the banksters, mission accomplished! Three steps to the plan:

1. Goldman "11 months to the year" Sachs and Wells "What future losses?" Fargo release their carefully massaged earnings reports. Read more about Well, so much for the "green shoots"

Just sayin

Fun with technology!

How the banksters looted your 401(k): "It's all about the fees, baby!"

Maybe I should buy a TV after all. CBS:

"The three-legged stool [of Social Security, retirement plans, and 401(k)], if you will, has gone to two legs and it's wobbly. And it's wobbling, and I'm not sure that it's gonna support anything. And that's the scary part and people are afraid," Brooks Hamilton, who has helped design retirement plans for some of the country's largest corporations, told [CBS correspondent Steve] Kroft.

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