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Where the bailout money is going

The price of everything in the real economy is collapsing, and the banksters are going to use the money we lent them to buy it all up, including whatever the cash-strapped states privatize (starting with the highways). That's one reason they're not lending our own money back to us (which was the putative reason for the bailouts). Something to look forward to; I've always enjoyed Snow Crash. Read more about Where the bailout money is going

"Strategic defaulting"

I guess, in a kleptocracy without the rule of law, that's what you do: Read more about "Strategic defaulting"

More unterbussen

Felix Salmon:

The length of time the average unemployed person has been without a job has been hitting new record highs for a while; it’s now managed to pass the 6-month mark. That’s much higher than any previous peak in this data series. And I fear that the only way it’s likely to come down any time soon is as these people become so demoralized that they take themselves out of the labor force altogether. uses...

Why does Goldman Sachs hate kittens?

The Villager:

Since Goldman Sachs has been a big part of the Lower Manhattan fabric for almost a century and a half, we’d like to take this opportunity to apologize to the rest of the country on behalf of our neighbor, a financial giant personifying much of what is wrong on Wall St.

Before we get to the multibillion-dollar stuff, we’d first like to apologize that the firm has not yet paid a few thousand dollars of vet bills for the five kittens born in its headquarters building nearing completion in Battery Park City. In August, after our sister publication Downtown Express reported the kittens’ discovery, Goldman offered to pay the bills and encourage its employees to adopt the “BlackBerries.”


Today. Any reports?

And the Showdown in Chicago begins tomorrow. Read more about 350

Contracts with artificial persons aren't contracts

Not sure about the legal theory here, but that's certainly the practice. Avedon: Read more about Contracts with artificial persons aren't contracts

Yet more weak shit on the banksters from Obama

[pounds head on desk]:

Obama: Time for big banks to help small businesses
"[OBAMA] These are the very taxpayers who stood by America's banks in a crisis, and now it's time for our banks to stand by creditworthy small businesses and make the loans they need to open their doors, grow their operations and create new jobs," Obama said.

White collar crime

Is there a blog that covers white collar crime like insider trading and accounting control fraud the same way that Jeralyn covers criminal law? Looks like it... Read more about White collar crime

Showing some class

Office of the Actuary: Democrat health care "reform" will increase costs

Interesting story that got no play in our famously free press or on the A list, though Hipparchia covered the wonky version of the story. This is the snarky version! From Wednesday of this week:

The nation's medical costs will keep spiraling upward even faster than they are now under Democratic legislation pending in the House, a report from government economic experts [but see below] concluded Wednesday.

The Obama administration immediately challenged the analysis...

Of course, of course.

Somebody needs to sue the taxidermist...

... because Trigger isn't dead. Yeah, Mike Allen, Politico.

I figure somebody's sending a signal. Or it's all kabuki. Who knows?

NOTE Pravda has a different slant. Read more about Somebody needs to sue the taxidermist...

"Zombie action for health care reform"

Taibbi: Elizabeth Warren for President. In 2012.

Isn't it time to have a Democratic President? A long quote from Taibbi, but a good one. And I'm glad we're starting this discussion now instead of in 2010 or, heaven forfend, 2012:

I’m personally of the opinion that our main problem lay with the fact that the Democratic Party as currently constituted is more afraid of losing the financial support of Wall Street and the health insurance industry and the pharmaceutical industry than it is of losing progressive voters. In fact, I think I’ve put that wrong, because it implies that the Democratic Party pushes the agenda of industry insiders out of fear. That is a misread of the situation, I think.

Night of the Living Fed

night of the living fed

NOTE Via Jr. Deputy Accountant (via W. C. Varones). As JDA comments, "how empty my life would be if I hadn't seen this." Read more about Night of the Living Fed


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