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More Kool-Aid, vicar?

Tyler Dunden on Charles Bowsher, who resigned rather than sign off on the Federal Home Loan Bank System’s Office of Finance financial statements because he wanted to call shit shit he had "become aware of the standards and processes for valuing the mortgage-backed securities":

So: to paraphrase - [Bowsher,] who knows the ins and outs of the financials of banks involved in the mortgage crisis more intimately than even Bernanke and Geithner, let alone Obama, is saying that the newly implemented changes by the FASB will throw the whole system into tailspin and he want none of it.

Mandos's picture

Jesse gets a bill

At Pandagon, Jesse Taylor recently had an appendectomy and has been undergoing a Kafkaesque (I keep using this word, truly we are in the era of fatal paradoxes...) billing nightmare:

So, in the latest update in my appendectomy idiocy: I’m in collections for $16,040.

Every time I call my insurance company, they tell me they’ve contacted the hospital “for information”. Every time I contact the hospital, they say they’re “waiting for information” from the insurance company. When I ask for supervisors, they tell me they can’t do anything until they “get information”.

Bankster profits to rise as FASB says "Go ahead! Cook the books!"

fasbFASB is the Financial StandardsMR SUBLIMINAL Snicker Accounting Board; its (privatized, bien sur) mission is: Read more about Bankster profits to rise as FASB says "Go ahead! Cook the books!"

Site maintenance

I'm mentally gearing up to install some new moduiles, and maybe take a look at how to make the site a little bit less of a resource hog (why the periodic outages) -- so I thought I'd ask if there's anything about your experience with the site that I should change. Technical issues only, please. Thanks! Read more about Site maintenance

Damon's picture

Poor, Poor Pro-Lifers

Is the West Michigan Dutch Mafia finally seeing the damage they've caused themselves by politicizing everything? I sure hope so:

HOLLAND, Mich. (AP) — Organizers of Holland's Tulip Time Festival have told Right to Life officials the anti-abortion group can't have a float in this year's parade.

The May 2-9 flower festival marks its 80th year this year in the western Michigan community.

Festival Director Tamra Bouman says Tulip Time long has had a policy against issue-oriented parade entries but didn't enforce it.

The Grand Rapids Press says the festival board decided to enforce the rule because it received a nonprofit tax status in December.

DCblogger's picture

Action Alert: AARP "Health Action Now" town-hall April 7th

Via the ever alert Vastleft: AARP Nationwide Town Hall

Tuesday, April 7, 1:30pm - 3:30pm ET

The President and members of Congress are saying they want to bring about health reform this year. Want to learn more about AARP's role in the health reform debate what we're working for and how we're representing YOU? Sign up to be a part of AARP's first nationwide town hall event and enter your own question for the AARP leaders and expert panelists to answer during the call!

Tell me again why the AIG contracts are so legitimate we're paying 100 cents on the dollar for them?

Chris Whalen:

For some time now, we have been trying to reconcile the apparent paradox of American International Group (NYSE:AIG) walking away from the highly profitable, double-digit RAROC business of underwriting property and casualty (P&C) risk and diving into the rancid cesspool of credit default swaps (”CDS”) contracts and other types of “high beta” risks, business lines that are highly correlated with the financial markets.

Krugman: G20 successful. But.

Not a "turning point", but successful. Good. Now we'll see what the other econobloggers have to say (the V2M* being completely untrustworthy, of course, except possibly Bloomberg).

NOTE Versailles/Village Media.

UPDATE Tomorrow's column: Crisis has years to run. Ouch! Read more about Krugman: G20 successful. But.

Some encouragement from the unemployment numbers

Edward Harrison at Naked Capitalism has some good charts. Here's what I see as the key material:

As you can see, the graph clearly indicates that the change in initial jobless claims has peaked (temporarily?). These peaks are not lagging indicators, they are usually coincident or leading indicators. Here are the dates and numbers for peaks in changes in initial claims going back to 1967 when the data began:

5 December 1970 at 120,000 (the recession ended in November 1970)

1 Feb 1975 at 361,000 (the recession ended in March 1975. Note: Apr-Jun 1974 showed positive GDP growth)

7 Jun 1980 at 238,000 (the recession ended in July 1980. Note: this was the first in a double dip recession)

Caro's picture

Politics and Media Headlines 4/2/09

Sarah's picture

So, if you give a lady what she asks for, that's a bad gift?

Evidently if the lady in question is the Queen of England, and what you give her is a video ipod, yes. Amazing what louts we have dictating our manners, propriety and etiquette in the eighth week of the 44th Presidency, especially when you consider that Bush 43 often gave self-centered gifts to go with his loutish behavior. He got praise for his loutishness, you may recall. Read more about So, if you give a lady what she asks for, that's a bad gift?

DCblogger's picture

Single payer blogging

I have to say that I am really proud of the work of the Corrente community. When I first started single payer blogging I had to search for material.

Our first achievement was to establish a connection between netroots and single payer activists in the field. I believe our coverage of the National Day of Action did this. We are now known as the go to source for grassroots health care activism. Read more about Single payer blogging

Mandos's picture

"Uniquely American": exceptionalism, capitalism, ideology

The phrase "uniquely American" is, to me, key in understanding the ideological predicament of any attempt at efficient delivery of public services in the United States, particularly but not only in the area of health delivery. It represents not merely a nationalistic claim of a need for difference from the effective policy solutions of other countries, but a shorthand for a more specific ideological claim. Read more about "Uniquely American": exceptionalism, capitalism, ideology

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