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herb the verb's picture

A Market Solution to the AIG Bonus 'Problem'

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Macro Man has a great suggestion of how this should be (or have been) handled.

"So to put things right, he has a compromise, market-based solution. Don't seize the bonuses via a one-off excise tax. Instead, pay them in the amounts contractually-mandated, and use normal tax treatment. But pay them in stock, and allocate shares on the basis of the average AIG share price in 2008: $27.57.

Read below the fold...

Billion vs. Trillion is not like 100 vs. 1000

vastleft's picture

A buffet of WORMs

The msnbc.com home page offers an assortment of administration spin on Big Give unaccountability:

The buck stops here, there, everywhere, and nowhere — whichever you'd prefer.

And as of this snapshot, Dodd has lobbed the ball back into Obama's court, where Glenn, Jane, and others say it belongs. Stay tuned for the next exciting episode of Pass the Buck! Read below the fold...

AIG's business culture, and the mysterious Reddit insider

RL calls, so I have to go, but I the Courant article about AIG's office in Fairfield, CT is interesting.*

Also, via Yyves, we've got this Reddit post from a putative AIG employee, describing the atmosphere. I'm skeptical: Read below the fold...

Xenophon's picture

Connect the Dots

"If you tell a lie big enough and keep repeating it, people will eventually come to believe it. The lie can be maintained only for such time as the State can shield the people from the political, economic and/or military consequences of the lie. It thus becomes vitally important for the State to use all of its powers to repress dissent, for the truth is the mortal enemy of the lie, and thus by extension, the truth is the greatest enemy of the State." -- Joseph Goebbels

Read below the fold...
lizpolaris's picture

High school news staff submit stories at Politico for a day.

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Oh, actually, I guess I'm somehow wrong on that. Their regular staff put out these couple paragraphs of gossipy spin and the headline is sure to be sensational.

Dodd facing fresh political firestorm

Well yes he is, if you're unable to read. The mismatch between the storyline and the full quote in paragraph 6 is purely due to the writer fantasizing that he's gotten, ulp, a scoop! Stop the presses!

At my high school, there was a quote from a member of the student council to the effect that he was voting without consulting his constituents! Egad! Not mentioned in the story is that that's his role as student representative. Oh, right.

Today, we have this from Politico: Read below the fold...

bringiton's picture

Hey, Ellen Tauscher; don’t let the door hit your ass on the way out!

If the door breaks, nobody out here can afford to get it fixed.

Hillary Clinton has picked BFF Ellen Tauscher to be the new Undersecretary of State for Arms Control, and Tauscher’s Fellow Traveler Barack Obama has agreed. Read below the fold...

Xenophon's picture

Don't they know we live in a totalitarian state?

I saw this news article about troops "policing" in Alabama. didn't these folk get the memo that posse comitatus is dead? The Military Comissions Act is now in force.

“On March 10, after a report of an apparent mass murder in Samson, Ala., 22 military police soldiers from Fort Rucker, Ala., along with the provost marshal, were sent to the city of Samson,” Harvey Perritt, spokesman for the U.S. Army Training and Doctrine Command (TRADOC) at Fort Monroe, Va., told CNSNews.com on Monday. Link

Read below the fold...

About former AIG Financial "Services" chief Joe Cassano

Some nice work from TPM on Joe Cassano, chief weasel, but Josh missed a data point.

Who do you think Joe Cassano wanted to be President?

You'll never guess. Read below the fold...

Letting the czar know

Interesting article on Obama reading letters from citizens. A tiny fraction, of course, but much, much better than nothing.

So, write him a letter on single payer. All you've got to lose is a 42-cent stamp. Read below the fold...

Pressure works

WaPo:

President Obama today abandoned a proposal to bill veterans' private insurance companies for treatment of combat-related injuries after the measure prompted an outcry from veterans service organizations and members of Congress.

More like this, please. Read below the fold...

And then, phase 2: A miracle occurs!

Our President, the underpants gnome:

"As we get out of this crisis, as we work towards getting ourselves out of recession, I hope that Wall Street and the marketplace don't think that we can return to business as usual," this afternoon said Obama. "We have to move beyond a constant bubble bust mentality.

I agree 100% -- no more bubbles!*

But "No Bubbles" is Phase 3.

We're in Phase 1 now. Read below the fold...

Sarah's picture

Lyrics

Well, I solved a mystery today. I thought this song was perhaps a Euro disc by Marty Robbins. Turns out it's another favorite singer of mine, C.W. McCall:
Night Hawk lyrics

We'd worked ourselves senseless
Been bustin' down fences
Drivin' dry cattle, no water in sight
As we sat 'round the fire
And cursed the barbed wire
A stranger broke into our light

Not knowin' no better
Some fool went for leather
But a whispered "I wouldn't"
Put an end to the fight
Then he said, "I'm for hire.
"You need a rider.
"And I don't mind ridin' at night."

[Chorus]
Go light on the Night Hawk
He don't smile, he don't talk
To strangers, and seldom to friends
And you'll do well to listen
When he asks you to leave him alone
He won't ask you again

Though the man is a myst'ry Read below the fold...

vastleft's picture

Idol worshippers and Bible belters

It pays to be a Christianist if you want to get ahead on "American Idol." Read below the fold...

gqmartinez's picture

The Manufactured Hero

As I'm viewing the details of the Big Shitpile unfold (here, here, here, and here, just on the front page of Corrente; make sure to follow som Read below the fold...

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