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Golden Sacks to insurers: Don't worry. Anything done can be undone by 2013

That's the sting in the tail of this Golden Sacks report quoted at HuffPo. To GS, though status quo is best* (bien sur), the Senate Finance Bill is the "base" scenario, a watered down version of it the "bull" scenarioMR SUBLIMINAL No shit and the HR 3962 is the "bear" scenario. But remember the baseline on financial reform? That if the banksters aren't threatening to commit suicide, the reforms are too weak? Same here. Read below the fold...

Golden Sacks has a LinkedIn profile!

Here:

Education

* Bank Street College of Education

Industry

Gambling & Casinos

Haw.

Apparently, they have 0 connections. That's odd. Read below the fold...

Yves on European and American labor markets

Sacramento sues Golden Sacks for fraud

McClatchy's Sacramento Bee:

The Sacramento Municipal Utility District sued Goldman Sachs, Morgan Stanley and 45 other financial firms Thursday in Sacramento federal court for allegedly rigging bids in bond-derivatives markets and defrauding the utility.

SMUD joined at least six city and county governments in California that already have filed similar lawsuits arising from a federal investigation made public in 2006. Many other public entities around the country have joined in lawsuits seeking class-action status.

Read below the fold...

One more for Brad DeLong...

Not a dead Polish economist but a live Yale professor. I tend to resist totalizing theories, but the peroration caught my eye:

Read below the fold...

Obama needs to invite Krugman to dinner again at the White House...

... for another Kool-Aid aperitif. Obama's thinking 2010 won't be 1937-38. But Krugman's disagreeing. Krugman's got a keen chart, too:

Read below the fold...

"Survivors"

Declaring victory on Too Big To Fail banks

Have we declared victory on health insurance reform yet? I confess I don't keep up with the access bloggers as much as I should, so maybe I didn't get the memo. Anyhow, the Versailles consensus that declaring victory is distinctly preferable to achieving it works for finance, too. James Kwok:

Gillian Tett has an article criticizing the idea that CoCos — contingent convertible bonds — will solve the “too big to fail” problem. ...

Read below the fold...

Pelosi pays off Capuano with an endorsement

Why? His vote in favor of The Insurance Industry Profit Margin Protection Act of 2009.

Funny how it all hangs together, isn't it? Read below the fold...

How to generate scientific controversy

Indeed.

NOTE Via PZ Myers, where they're building a Creation Museum right next to his house! At least my Minnesota standards; it's a big state. Anyone ever notice that Creation Museums aren't museums either? It's a two-fer! Read below the fold...

The peace candidate

IOZ:

I like that The Obama's "four options" for Afghanistan are all the same option. I like the fact that he has bravely rejected any of the final four options in favor of finding a "compromise," a "hybrid." A fifth option? Barack Obama is calling audibles, yo. He's runnin' the wildcat offense! He's in the empty set. It's a reverse double onside punt fake kick passing lateral play....

Read below the fold...

"Poor little primitives. Of COURSE it wasn't just about taking their oil. "

No, no, of course not. Go read Chris Floyd for a spectacularly jaundiced -- and by "spectacularly jaundiced" I mean "superbly written and correct in every respect" -- view of American official corruption -- and by "official corruption" I mean "business as usual for the elite" -- in Iraq. Peter Galbraith, Zalmay Khalilzad, Jay Garner, and Neil Bush join a cast of thousands! Read below the fold...

Relationships...

Pravda buries the lead:

Allies [of departing White House counsel Gregory Craig] also note that he oversaw the successful confirmation of Sonia Sotomayor to the Supreme Court and praised him for trying to keep Obama in synch with some of the ideologically liberal ideas he promoted in the campaign.

Read below the fold...

Is wood a Constitutional right?

No.

This has been another edition of simple answers to simple questions. Read below the fold...

If you want jobs, end the empire

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