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Sarah's picture

New Presidential Ride Unveiled


I don't know whether to thank FSM and Ceiling Cat they didn't go for the "Hummer" sheet metal, or think this is some lame "salute" to "too big to fail". From the Detail's perspective, the thing rocks. From mine ... five-inch-thick glass? Dayum. Trying to see out's gotta suck, though.
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Why not just make banks regulated public utilities?

[Welcome Angry Bear readers!]

Why not put access to credit -- at least to little people like us -- on the same basis as access to other forms of power like electricity, gas, and water? Why not turn the banks into regulated public utilities like the water company, the power company, or the gas company?

So far as I can tell, there's no need for "complex," "innovative" financial instruments at all; and they call them investment vehicles because they're designed to drive off with your money. What was wrong with community banks handling the really boring business of mortgages at 4%? What was wrong with a retirement system that didn't depend on speculation? Read below the fold...

The Village that works

The invaluable McClatchy:

Bailed-out Wall Street helps float Obama inauguration

The watchdog group Public Citizen says nearly 80 percent of the $35.3 million raised by the Presidential Inaugural Committee to date has come from 211 wealthy donors, including a number from Wall Street firms benefiting from the mushrooming federal bailout.

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It's like the Republicans have wired themselves up to their own hot buttons

I mean, come on:

Republicans have also requested hundreds of pages’ worth of documents that might shed light on [AG nominee] Holder’s role in the Elian Gonzalez controversy.

They wire themselves up, hit the hot button, then trash and jerk around. It's bizarre. What next? Terry Schiavo? Read below the fold...

The trout is in the milk. Pass it on.

Via TalkLeft, Izvestia:

A federal intelligence court, in a rare public opinion, is expected to issue a major ruling validating the power of the president and Congress to wiretap international phone calls and intercept e-mail messages without a court order, even when Americans’ private communications may be involved.

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White House claims to have found the missing email

Of course, they're lying. RL calls, so I can't take this one apart, though. Readers? Read below the fold...

House, Senate jockeying on throwing Big Money $350 billion more under second TARP tranche


The U.S. Senate plans to vote today on whether to block the release of the second half of the $700 billion financial-bailout plan sought by President-elect Barack Obama’s administration. ....

Under the rescue legislation, unless Congress passes a resolution within 15 days turning down Bush’s Jan. 12 request for the second $350 billion made on Obama’s behalf, the Treasury Department could use the money. The president then could veto the resolution. ...

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Republicans leap to Geithner's defense


The chorus of support from key Republicans suggests that Geithner, president of the New York Federal Reserve Bank, is unlikely to encounter serious turbulence on his path to the Treasury Department, where he would serve as President-elect Barack Obama's top adviser on the worldwide credit crisis and manage a $700 billion financial rescue program as well as the Internal Revenue Service. His confirmation hearing, delayed until Wednesday, takes on added importance, with many fence-sitting Republicans saying they are eager to hear how such a smart guy made tax errors that cost him nearly $45,000.

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Izvestia asks a question:

Barack Obama has become an ice breaker when it comes to discussing racial politics.

Have you found it easier to discuss race since the election of Barack Obama?

Absolutely. And you know what really helped?

The Obama Fan Base isn't smearing me as a racist for not supporting him any more, since the primaries (except in the minds of a few bitter holdouts) are long over. That's a real plus! Read below the fold...

herb the verb's picture

Olmert to Bush: Dance my Puppet!

No AP content was harmed in the making of this story.

With 5 days to go, there is still plenty of time for yet another Bush fuck up and opportunity to disgrace us all.

Case in point:

"Israeli Prime Minister Ehud Olmert said a telephone call he made to U.S. President George W. Bush last week forced Secretary of State Condoleezza Rice to abstain in a U.N. vote on the Gaza war, leaving her "shamed."

Pouring on political bravado in a speech late Monday, Olmert said he demanded to talk to Bush with only 10 minutes to spare before a U.N. Security Council vote Thursday on a resolution opposed by Israel calling for an immediate cease-fire.

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vastleft's picture

If you loved Baby Jesus, you'd have a job!

So, I'm flipping through the channels, see?

And I stop at the 700 Club, and I learned this valuable piece of economic info from Pat Robertson:

God isn't surprised. He knows exactly what's going to happen, and He knows exactly how to make the finances of the world work.

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WaPo's Meyerson: Obama's finance picks teabag Big Money. Why?

Harold Meyerson:

If Obama's appointees inspired sufficient trust that they would be willing to take on the banks, legislation [like Frank's bill, which mandates that a portion of the bailout funds be spent to help homeowners] would be unnecessary. Unfortunately, they don't.

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Stupid, stupid, stupid


The stimulus package is expected to include at least $300 billion in tax cuts and nearly $550 billion in domestic spending

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Because they can

Chris Bowers, quoting Elana Schor:

In the past 90 days, the Blue Dogs were mentioned 933 times in national press coverage according to Lexis-Nexis. The progressives were cited just 99 times.

This gap in media coverage is not due to numbers, as there are over 80 members of the Progressive Caucus now, compared to only 51 for Blue Dogs.

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vastleft's picture

My favorite Villager moves on

RIP, Patrick McGoohan.

The world just got a lot less cool. Read below the fold...


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