If you have "no place to go," come here!

If there's one thing Versailles just hates, it's anger

It's late, so I don't have time to analyze the latest piece of stenography from Nags, but this paragraph caught my eye: Read below the fold...

AIG reveals counterparties

Yves; WaPo. As predicted,the usual suspects.

So, now can we find out where all the bailout money went? There's two trillion of it, so far. Read below the fold...

Show us the contracts!


Comedy gold from Larry the Bailout Guy:

Lawrence Summers, director of the White House's National Economic Council, said Treasury Secretary Timothy Geithner had "scaled back" the bonuses but that the administration could only go so far.

[SUMMERS] "The whole situation at AIG is outrageous. What taxpayers are being forced to do [nice avoidance of agency. Who's doing the forcing? The Bailout Fairy?] is outrageous," he told CBS program "Face the Nation."

Read below the fold...

WSJ: AIG bonus figure $450 million, not $165 million, as Times and CNN stated


Times; CNN.

Well, which is it? Just out of curiousity. Since it is, after all, my money, because I've been doing my little bit to bail out AIG.

I mean, I know that salespeople always make the most money, and deservedly so -- but does that also apply to salespeople selling toxic paper? Read below the fold...

DCblogger's picture

The Charter School Kleptocracy


Charter schools and the attack on public education

According to U.S. Census data, well over $800 billion is spent on education, public and private, at all levels in the United States each year.20 This makes it roughly the same size as the U.S. trade deficit with China. The private sector wants to get its hands on this money. Along with politicians, it is determined to break the power of the teachers’ unions and to attack one of the last bastions of decently paid American workers. The budget problems resulting from the current recession will provide them cover in doing this.

Read below the fold...

If Obama's our FDR, then where's the Pecora Commission?

I post in haste, so Wikipedia:

The Pecora Commission is the name commonly used to describe the commission established on March 4, 1932, by the United States Senate Committee on Banking, Housing, and Urban Affairs to investigate the causes of the Wall Street Crash of 1929. The name refers to the fourth and final Chief Counsel to the committee, Ferdinand Pecora.

Read below the fold...

Where's my pony? Do the counterparties have it?

7772So-Where-s-My-Fucking-Pony-PostAfter some months, the Times editorial board wakes from slumber: Read below the fold...

A controlled flight into terrain: Policy prescriptions and the crisis (an exchange)

I thought I'd elevate this comment from bringiton, and respond to it:

101 uses for a dead cat

Couple of things, agreeing all the while with Roubini's general analysis; however, the problem is both bigger than he states and more complex to address than he suggests.

Roubini writes:

Read below the fold...

PNHP v HCAN: Blog debate... ---

All this week, this site hosted a blog debate about what approach we should take on health care reform in 2009. Dr. Don McCanne, a retired family physician now serving as Senior Health Policy Fellow for Physicians for a National Health Program, represented the "single-payer" point of view and Jason Rosenbaum, a writer and activist, and the Deputy Director of Online Campaigns for Health Care for America Now!, represented the "public competitor" point of view.

Read below the fold...
vastleft's picture

AIG still paying millions in executive bonuses

I'd be here all night if I tried to highlight everything that's fucked up about this.

All I can do is honor Tim and AIG with a hearty "Mission Accomplished!" and extend my condolences to all concerned because, of course, their hands are tied.

The irresponsible American public decided to give billions to AIG with no strings attached, so what could the best and brightest (a term that AIG CEO Edward Liddy actually uses in the linked item!) do but keep rewarding themselves? Read below the fold...

Dead cat bounce

Roubini's done pretty well so far, for a celebrity.

And about the banksters who claim a return to profitability? Roubini farts in their general direction: Read below the fold...

Details to come later on valuing those "legacy assets"

If "details to come" wasn't the story of the Obama campaign, it sure has been the story of the bailout. Bloomberg:

U.S. Treasury Secretary Timothy Geithner said he will soon provide details of his plan to help banks clean up the non-performing assets that are clogging the financial system.

Read below the fold...

Seed starting

It's not too soon to recall Feral Liberal's wonderful series on seed starting last year!

41 degrees today in Zone 5b! Who-whee! Read below the fold...

So, now can we ban downer banks?

They're a hell of a lot more toxic and dangerous than downer cows. Read below the fold...


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