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Pelosi: Bailout billions are the issue, not bonus millions

Well said. More like this, please.

Start at 9:55. Read below the fold...

Torturing scum

Old windows, little greenhouse?

I've got a ton of old windows from when I put in the replacements, and, since we hit 50 degrees today, I'm wondering whether I can turn them into a low-tech A-frame greenhouse -- just by leaning them against each other and sealing the ends against the wind with plastic.

Maybe then I could start some seeds indoors (like now) and move them outside in a couple of weeks after they'd sprouted.

Thoughts? Read below the fold...

Dyspeptic view of Bernanke's policy moves from Karl Denninger at The Market Ticker

Bernanke Inserts Gun in Mouth. That may say it all.

I'm not savvy enough to determine how much of this is valid, and Denninger tends to the glass half empty going on full empty views...but I'd appreciate any input and reactions.

He recommends going "liquid" and having enough ready access to cash for 12-24 months' survival.

Folks, this is the most frightening statement I've read from the FOMC - ever.

Notice what's missing - the statement just a few days ago from Ben Bernanke in which he said that the economy would recover in early 2010, and the recession would end in late 2009.

Read below the fold...
DCblogger's picture

You only think you have insurance

Susie at Crooks and Liars

Only the relatively healthy are happy with the present system, because the real problems begin when you actually use your insurance - and find out how little it actually covers. (Ever check out your lifetime cancer benefits?) No, people aren't really "satisfied" with their insurance - they're simply resigned to the idea that this is as good as it gets.

Read below the fold...

Why are we talking about bankster bonuses, instead of criminal prosecutions?

That's a question that answers itself, isn't it? Yves:

Who were these people who wrecked AIG and other companies? How did it come about? And was the nature of their actions such that they should be permanently barred from the securities and banking industries?

Read below the fold...

Citi spends $10 million of your bailout money on a new office for Vikram Bandit -- with "soft seating" and blast-proof windows!

Bloomberg:

Citigroup Inc. plans to spend about $10 million on new offices for Chief Executive Officer Vikram Pandit and his lieutenants, after the U.S. government injected $45 billion of cash into the bank.

Read below the fold...

A saner approach to marijuana policy

Times:

Attorney General Eric H. Holder Jr. on Wednesday outlined a shift in the enforcement of federal drug laws, saying the administration would effectively end the Bush administration’s frequent raids on distributors of medical marijuana.

Read below the fold...
Sarah's picture

Evil, Even More Than We Thought

We thought we had an idea of how evil the Bush regime was. We thought the "you've covered your ass" line from the Slacker in Chief and the WMD hysteria from Colin Powell and the "go to war with the Army you have" smart-off from Rumsfeld showed us what kind of cretinous monsters with which we had to contend.

We were wrong. Read below the fold...

herb the verb's picture

A Market Solution to the AIG Bonus 'Problem'

Departments: 
Thread: 
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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...

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