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Krugman: Administration has "squandered" the mandate of heaven

In a column which oddly, or not, doesn't mention the President by title or by name, Krugman concludes:

The gist of the [TARP inspector general's AIG bailout] report is that government officials made no serious attempt to extract concessions from bankers, even though these bankers received huge benefits from the rescue. ...

For the A.I.G. rescue was part of a pattern: Throughout the financial crisis key officials — most notably Timothy Geithner, who was president of the New York Fed in 2008 and is now Treasury secretary — have shied away from doing anything that might rattle Wall Street. ....

Read below the fold...

CBC makes "progressives" look like the sellouts they are

Ryan Griffin in HuffPo, yeah yeah:

A bloc of African American House Democrats, angry and worried that not enough is being done about high unemployment by the administration, forced the postponement of a much-anticipated vote Thursday on comprehensive financial regulation reform.

And "progressives" couldn't do the same thing on health care why, exactly?

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Once more on the Community Reinvestment Act

At Baseline Scenario, James Kwak concludes:

For the CRA to be the problem, the causal factor would have to be availability of credit in low-income communities. But from what I’ve read, it seems like today’s problem is no longer redlining — plenty of lenders were willing to lend to the poor. It’s predatory lending — they found that for various reasons it was easier to steer poor people into unnecessarily high-cost loans. Now, I’m no fan of policies to encourage homeownership in general. I think we have too many of them. But the CRA is primarily a policy to discourage discrimination, and that is something we unfortunately still need.

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Michael Jackson

Michael Jackson "Work and Soul" (part 1 of 4); the whole series gives excellent perspective. My takeaway (and there are many others):

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Mexican families sending money North

That's how bad it is.

And these clowns are trying to sell me a $25 T-shirt? What's wrong with this picture? Read below the fold...

Not trying to pick a fight

No indeed:

With unemployment among blacks at more than 15 percent, the N.A.A.C.P. will join several other groups on Tuesday to call on President Obama to do more to create jobs. ...

In speaking out on jobs, N.A.A.C.P. leaders say they are not trying to pick a fight with the first African-American president. Rather, they say, they are pressing Mr. Obama in an area where they believe he wants to be pressured.

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Elizabeth Warren for President!

CJR quoting Bloomberg:

[WARREN] “I made a decision at the beginning that the experts wrecked this economy and the public has a right to know what’s going on,” she said. “It’s our economy on the line and the experts can’t be trusted. I want everyone to be part of the solution to how we want to change our economic world. If it’s risky or makes me look stupid to someone, so be it.”

Crazy talk!

She's a hippie! Read below the fold...

"Trailer trash"


[Carin] Froehlich is among the growing number of people across America fighting for the right to dry their laundry outside against a rising tide of housing associations who oppose the practice despite its energy-saving green appeal.

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Raising rates to beat the impact of new rules....

Edward Harrison:

[T]here is an element of bad faith dealing here. The banks were given TARP funds and other, extensive types of support so they could support the economy via lending. Raising rates to beat the impact of new rules was predictable (the long lead time for implementation of the rules was no accident) but the brazenness of the banks is still remarkable.

Remind you of anything? Read below the fold...

Golden Sachs memo to employees: Reduce swine flu risk by having your driver open the car door

Via Big Picture.

Yeah, I'll be sure to remember that. Read below the fold...

All-Christian prison proposed for Wakita, OK

Via Tulsa World:

This tiny town near the Oklahoma-Kansas state line north of Enid may soon own the country's only all-Christian prison, with Christian administrators, employees, counselors and programs.

"If Chicken Little doesn't come to town, we'll be open in 16 months," said Bill Robinson, the founder of Corrections Concepts Inc., a Dallas nonprofit prison ministry that is spearheading the project. ....

Robinson, himself an ex-con and prison minister, said he had been working for years on the idea of an all-Christian prison, and he had invested $1.3 million so far on construction plans and other expenses.

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Is "marriage" identical or similar to "marriage"?

If the answer is Yes, Texas may just have outlawed all marriages, not just gay marriage:

Texans: Are you really married?

Maybe not.

Barbara Ann Radnofsky, a Houston lawyer and Democratic candidate for attorney general, says that a 22-word clause in a 2005 constitutional amendment designed to ban gay marriages erroneously endangers the legal status of all marriages in the state.

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2013? Fuck you, Harry!

Shit sausage can kill you:

Reid's bill would gradually extend health insurance coverage to nearly all Americans by providing government subsidies to help pay premiums. Starting in 2013, it would ban insurance company practices such as charging more to those in poor health, or denying them coverage altogether.

Read below the fold...


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