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The central bank lent $2 trillion to financial institutions and hasn’t disclosed information about most of the collateral backing those loans.

How is that possible in a functional democracy, where the legislature has the power of the purse?

Answer: It isn't. Read more about Oligarchy

Politics and the English language at WaPo

When you get mildew, it's never just one plant. Whatever rotted Broder's sensibility and conscience infests everything. Take a look at this front page teaser today from Pravda on the Potomac:


It's all here, isn't it? All wrapped up in one little compact package. Read more about Politics and the English language at WaPo

About those missing Bush emails

Just laying down this marker so I don't forget it; TPM and CREW material consolidated in one place. Read more about About those missing Bush emails

In Canada, they just let you die in the waiting room.

[For anyone visiting Corrente for the first time, the title is ironic and debunks a right wing lie talking point. Read on for why. --lambert]

The socialized medicine will kill you! crowd are going to just love this story if they get their hands on [part of] it.

In a scene that combined tragedy with Monty Python farce, a 77-year-old man in acute respiratory failure turned up at a private medical clinic in Montreal only to be told to wait his turn.

Obama's policies are working!

Dead cat


It's great to be an insider!

NOTE It's a cliche! I didn't invent it! Read more about Dead cat

gqmartinez's picture

It could be worse

From the Times online (via CR), Spain's unemployment rate leaps to record high:

More than four million Spanish people are out of work. According to the country's National Statistics Institute a record high figure of 17.4 per cent were unemployed in the first quarter of the year.

Unemployment leapt from 13.9 per cent in the fourth quarter of 2008, the biggest quarterly jump since 1976. Joblessness in Spain has almost doubled in a year.

What Glenn said

Simple, simple stuff:

The failure of the Democratic Party to meaningfully oppose what was done over the last eight years is a crucial part of the story here and light needs to be shined on that as much as anything else. I don't know of a single person who has devoted themselves to arguing for investigations who contests that fact.

You'd think the Democrats would want to clear their names. And ours. Why don't they? Read more about What Glenn said

Economist gives the bottom line on Timmy

Buried in the hagiography (see here for a salutary corrective) this sentence:

Mr Geithner and Mr Summers [and their boss] want to preserve the banking system largely as it is.

Why? Read more about Economist gives the bottom line on Timmy

Nobody could have predicted....

Steve Benen:

By the time the president realized the minority party wanted nothing but tax cuts and spending cuts, it was too late to make the bill more ambitious.

A guide to eating well

Bankster of the Day


As the sun streamed through the glass ceiling of London’s 40-story “Gherkin” tower in May 2007, Thomas Jasper raised his champagne glass.

Almost 25 years after the former Salomon Brothers Inc. banker transformed the derivatives market into a trillion-dollar industry, his latest venture, Primus Guaranty Ltd., was poised to make unprecedented profits.


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