Elizabeth Warren proposes four common factors for a workable bailout, based on success from the past. Transparency, assertiveness, accountability, and clarity. By these criteria, this from the Fed is a FAIL: Read more about Fed, in transparency FAIL, tells banksters to STFU on stress test results
(Not to hijack the branding, or anything.) Eric Hobsbawm writes:
[T]he basic idea that dominated economics and politics in the last century has patently disappeared down the plughole of history. This was the way of thinking about modern industrial economies, or for that matter any economies, in terms of two mutually exclusive opposites: capitalism or socialism.
In one of these freakonomical perverse results, apparently right-wing memes about socialism have been overused and are hence rebounding against them. Via Yglesias:
Only 53% of American adults believe capitalism is better than socialism. The latest Rasmussen Reports national telephone survey found that 20% disagree and say socialism is better. Twenty-seven percent (27%) are not sure which is better. Adults under 30 are essentially evenly divided: 37% prefer capitalism, 33% socialism, and 30% are undecided.
Trawling through the Pravda web site reveals more juicy amusingness. Yes, I know, it is not news that it is a buffet of nuttiness. This time it is Sir Cabbagemallet, keeping the dream alive:
Having thus bravely rallied the international community and summoned the United Nations -- a fiction and a farce, respectively -- what was Obama's further response? The very next day, his defense secretary announced drastic cuts in missile defense, including halting further deployment of Alaska-based interceptors designed precisely to shoot down North Korean ICBMs. Such is the "realism" Obama promised to restore to U.S. foreign policy.
Can we all take a moment for a mocking chuckle at the hard right thinktankazoids? Jesse Taylor has an entertaining take on Ramesh Ponnuru's plan for expanding health insurance. Read more about "What a curious mystery this all is!"
This, by the way, was buried deep in the biz section of the WaPo web site, but it was front and center on the print edition, a copy of which I managed to get my hands on today. Just so you know what the federal government was reading today.
If I were willing to spend the time, I'd have photoshopped his head onto Jamie Bamber's body. In *that* scene. BSG fans know what scene I am talking about.
The comments aren't bad, though. Read more about Helicopter Ben: EXTRA DREAMY
I went out and hoed the flower beds, collected all the dead leaves and twigs, put them in piles to turn under later. Yay! It was over 40 degrees today!
Couldn't have taken more than half an hour, and it's early, really. But! Read more about First gardening!
The pom pom brigade is trying to talk "the" economy up. Party like it's 2006! In the stenography, this little gem:
Consumers, whose sharp cutbacks in spending plunged the country into a steep economic tailspin at the end of last year, seem to be gradually spending more freely.
Oh, consumers caused the tailspin. Not the banksters who inflated the bubble, which burst, and then orchestrated the largest transfer of wealth in American history. The consumers. Read more about Why oh why can't we have a better press corps?
The star salesperson for Zales at the Woodbury Common Premium outlets was fired after she notified her boss that she would need immediate heart surgery. Via the Times-Herald Record:
In November, the diminutive grandmother with an Italian accent was flown to Dallas, home of Zales' headquarters, where she was honored with a 1-carat diamond necklace for making $1 million in sales last year.
Obama's going to take a meeting Friday on the bank stress tests. Please, can we have Ari Fleischer back?
[Obama flak] Gibbs said he did not know how the government plans to publicly disclose the [stress tests] results. But he said, "I think the administration believes it's important that there be some transparency [like "some" virginity?] around that."
Because I prefer people who are supposed to be on my side not to shit me.
AP Photo: Nick Ut
There's a clock keeping up with the number of people drunk drivers have killed so far in the US this year. At the time of this writing it's over 3500. This young lady was one of them:
Read more about A Moment's Remembrance, Please: 3500 Americans, and counting
Have them go out of business.
From Calculated Risk yesterday, we have this chart:
I leave it up to others to conclude whether that is good or bad. Read more about One way to get rid of them evil chain stores