5.10.09
Visit me at www.cbrookskurtz.com
26.5.09
Shrugging...
Most talk of disincorporation appears to be exploratory, and some public-finance experts say towns may not have that option if it is being used to unload financial obligations. "This is somewhat of a legal gray area, because disincorporation was not designed to allow cities to escape financial hardship," said John Knox, a public-finance consultant with the San Francisco office of law firm Orrick, Herrington & Sutcliffe.
Mr. Knox, a bankruptcy consultant to Vallejo, said shifting oversight of a city's services to a county or state during the current economic environment would be a tall order. In California and many other states, the county or state must approve such a move, he said. Most counties are ailing as badly as cities, and are unlikely to readily approve a disincorporation, he said.
That isn't stopping some towns from checking into the possibility. In Mountain View, a Denver suburb with about 500 residents, sales-tax revenue has shriveled with the departure of four businesses last year, undermining its ability to pay city-government employees or to afford police and sewage service.
25.5.09
Excellent Mem-Day post
At the risk of being presumptuous, those who gave their lives for our country would want you to gather your buddies and drink beers and eat barbecue (Resolved: Barbecued beef ribs are superior in every way to pork ribs. Discuss.). I plan to. There is a reason that on Memorial Day the flag flies at half-staff only until noon, when it is raised to the top of the pole again. It symbolizes that we honor our dead by going forward with our lives.
Honor our fallen by remembering them, and just as importantly, what they did. We can do that best by confronting the nonsense that surrounds us by telling the stories of these brave American men and women. When little Jimmy comes home confused because the teacher said that America is irremediably racist, you tell him about the Union soldiers who fell at Gettysburg. When your daughter tells you her textbook says that World War II was really instigated by war profiteers, pop in the disc of the Band of Brothers episode where Easy Company stumbles onto a Nazi death camp. When your son asks what that bumper sticker saying “End the War” means, you tell him about what the cops and firefighters had to do on 9/11. Let the truth be your tribute.
More Cheney love here, and more to come
Think about that. Back in those heady days after the 2008 election, anyone who suggested that Mr. Obama might find himself playing defense to Dick Cheney on Guantanamo would have been hauled off as barking mad. Yet that's exactly what Mr. Cheney has pulled off, leaving a desperate White House to try to drown him out by adding an Obama speech the same day Mr. Cheney was slated to address the American Enterprise Institute.
Great piece by RS McCain
Bragging on one's children is an especial joy when the kids are home-schooled, since Kennedy's achievements reflect credit on her mother, who spent seven years teaching our daughter at the kitchen table.
The success of home-schoolers is a refutation to the arrogance of a government education bureaucracy that is prone to assert, with the self-righteeous authority of official expertise, that my kids and theestimated 1.5 million other home-schooled students in America are being deprived of something useful. My only regret is that more children are not similarly deprived.
Steyn's latest
EVCA serves two rural counties with a combined total of a little over 40,000 households. If you wanted to stimulate the economy, you’d take every dime allocated to Windsor and Windham counties under ARRA and divide it between those households. But, if you want to stimulate bureaucracy, dependency, and the metastasization of approved quasi-governmental interest-group monopolies as the defining features of American life, then ARRA is the way to go. Oh, you scoff: ARRA, go on, you’re only joking. I wish I were. We’re spending trillions we don’t have to create government programs to coordinate the application for funds to create more programs to spend even more trillions we don’t have.
The stimulus will do nothing for the economy, but it will dramatically advance the cause of statism (as Mark Levin rightly calls it). Last week’s vote in California is a snapshot of where this leads: The gangster regime in Sacramento is an alliance between a corrupt and/or craven political class wholly owned by a public-sector union-bureaucracy extortion racket. So what if the formerly Golden State goes belly up? They’ll pass the buck to Washington, and those of us in non-profligate jurisdictions will get stuck with the tab. At some point, the dwindling band of citizens still foolish enough to earn a living by making things, selling things, or providing services other than government-funded program coordination will have to vote against not just taxes but specific agencies and programs — hundreds and thousands of them.
22.5.09
Creepy
Read the TV pool report: "Your Pool was not allowed to go over and shoot POTUS with the team shooting hoops. We protested loudly."
Now we know why: Obama White House officials decided to do their own media report on the visit, complete with cuts, interviews, and chyrons identifying who's speaking.
21.5.09
A brief history of Gitmo
Gitmo was never meant to be a prison where inmates were to serve sentences for crimes. It was, in the words of a Defense Department document, a detention facility set up in order to prevent “enemy combatants from continuing the fight against the US. and its partners in the war on terror.” Its goals were military and tactical, not juridical or penal. Still, the conditions under which these unconventional prisoners were to be held did involve questions.
I'm shocked, shocked! to learn that Greenunist Dogmatists are profiting from it!
The opening keynote address is to be delivered by Al Gore, who actually represents all three groups: He is a politician, a campaigner and the chair of a green private-equity firm invested in products that a climate-scared world would buy.
Naturally, many CEOs are genuinely concerned about global warming. But many of the most vocal stand to profit from carbon regulations. The term used by economists for their behavior is "rent-seeking."
The world's largest wind-turbine manufacturer, Copenhagen Climate Council member Vestas, urges governments to invest heavily in the wind market. It sponsors CNN's "Climate in Peril" segment, increasing support for policies that would increase Vestas's earnings. A fellow council member, Mr. Gore's green investment firm Generation Investment Management, warns of a significant risk to the U.S. economy unless a price is quickly placed on carbon.
20.5.09
Obama as Spock? Not so, says some guy
Obama’s lack of logical guidance can also be seen in his reversals on key issues. From military tribunals, to wiretaps, to the abuse photos, Obama seems to have only adopted logical positions after he discovered that his initial ones were illogical and unworkable.
Obama’s entire political career has been based on emotional pleas to victim groups, as can be plainly seen by some of the alliances he’s chosen in the past. As a matter of fact, Barack Obama’s most Spock-esq calculations have been of a political nature rather than decisions that legitimately speak to his abilities as a leader.
19.5.09
Huh?
Brown is explicit about this mission. He isn’t a serious novelist, but he’s a deadly serious writer: His thrilling plots,he’s said, are there to make the books’ didacticism go down easy, so that readers don’t realize till the end “how much they are learning along the way.” He’s working in the same genre as Harlan Coben and James Patterson, but his real competitors are ideologues like Ayn Rand, and spiritual gurus like Eckhart Tolle and Deepak Chopra. He’s writing thrillers, but he’s selling a theology.
Great piece about Nock at NRO
But here is the odd, or wonderful, thing about Nock. For all his clarity and passion, he professed no interest whatsoever in trying to persuade anybody. “The wise social philosophers,” he wrote, “were those who merely hung up their ideas and left them hanging, for men to look at or to pass by, as they chose. Jesus and Socrates did not even trouble to write theirs out, and Marcus Aurelius wrote his only in crabbed memoranda for his own use, never thinking anyone else would see them.” Indeed, Nock struck a pose of bemused disdain for the self-proclaimed prophets of the New Age — the Father Coughlins, the Huey Longs, the Upton Sinclairs, and even the Liberty Leaguers. Surveying the landscape of demagogues, mountebanks, and experts sucking the oxygen out of democratic discourse in the 1930s, he wrote, “I cannot remember a time when so many energumens were so variously proclaiming the Word to the multitude and telling them what they must do to be saved.”
17.5.09
Abortion and Bias
At the rate things are going, Pope Benedict XVI may find his next trip to the U.S. dogged by airplanes overhead trailing banners with images of aborted fetuses. O.K., that's a bit of hyperbole. But while several prominent conservative Catholics in this country are apoplectic over the University of Notre Dame's invitation of the pro-choice Barack Obama to give the school's commencement address on May 17, the Vatican has stayed completely silent on the matter.
Oh yeah, they want to kill off old people too
Word to the wise: Short your shares in Grandma, Inc. That’s because Dr. Emanuel has embraced a technique for simplifying some of the tough calls: age discrimination. He wrote in The Lancet in 2008: “Unlike allocation by sex or race, allocation by age is not invidious discrimination.” We all were young once, the argument goes, so denying the elderly and weak in order to care for the young and fit is just. It does not take the fine nose of a Robert Parker to detect a whiff of Social Darwinism in ideas of this vintage. It is morally shallow, but unsurprising: Age discrimination is not a side effect of politically managed health care; it is a critical and fundamental feature of Britain’s National Health Service and other government-run health systems admired by Obama and his advisers. Under their arithmetic, the rewards of a procedure must be divided by the remaining life expectancy of the patient, leaving the elderly with what McCaughey calls a “denominator problem.”
Abortion booster give speech to Cathoilics
Three hundred thousand Catholics have signed petitions criticizing the university. Over $8 million in donations has been withheld in protest. Local bishop John D’Arcy is boycotting the commencement. Scores of other bishops have spoken out against honoring Obama, because the president has (in Bishop D’Arcy’s words) “reaffirmed, and has now placed in public policy, his long-stated unwillingness to hold human life as sacred.” D’Arcy suggested that Notre Dame had chosen “prestige over truth.”
Wow, this chick really hates atheists
And then there's the question of why atheists are so intent on trying to prove that God not only doesn't exist but is evil to boot. Dawkins, writing in "The God Delusion," accuses the deity of being a "petty, unjust, unforgiving control freak" as well as a "misogynistic, homophobic, racist ... bully." If there is no God -- and you'd be way beyond stupid to think differently -- why does it matter whether he's good or evil?
16.5.09
A pretty straight definition of torture
The memo to the CIA discussed 10 requested interrogation techniques and how each should be limited so as not to violate the statute. The lawyers warned that no procedure could be used that "interferes with the proper healing of Zubaydah's wound," which he incurred during capture. They observed that all the techniques, including waterboarding, were used on our military trainees, and that the CIA had conducted an "extensive inquiry" with experts and psychologists.
But now, safe in ivory towers eight years removed from 9/11, critics demand criminalization of the techniques and the prosecution or disbarment of the lawyers who advised the CIA. Contrary to columnist Frank Rich's uninformed accusation in the New York Times that the lawyers "proposed using" the techniques, they did no such thing. They were asked to provide legal guidance on whether the CIA's proposed methods violated the law.
Shrugging
These casual accusations of criminality and deceit come easily to Obama, who has been a real bull in the china shop of the credit industry. He’s threatened Chrysler’s bond holders with personal destruction, and used raw government power to adjust the balances on home mortgages. Nervous banks have taken TARP funds designed to stimulate new lending, and sat on those funds instead, because they’re afraid to make loans in the increasingly Venezuelan business environment the Administration has created. U.S. Treasury bonds are losing frightening amounts of value in the face of reckless deficit spending.
Another defense of Dick Cheney
At about 10 a.m. that awful morning, the vice president entered a secure White House shelter. He was told that the Air Force was attempting to scramble planes to defend the air space over Washington. That raised another question, one pertaining to the missing plane White House officials assumed was heading their way: Who was going to authorize shooting it down? Cheney, with Bush's concurrence, gave such an order. Minutes later, officials in the shelter learned a plane had crashed in Pennsylvania. In the unemotional prose of the report, the 9/11 commission noted: "Those in the shelter wondered if the aircraft had been shot down pursuant to this authorization."
At 10:39 a.m., Cheney spoke with Secretary of Defense Donald Rumsfeld. It's clear from the transcript of that call that Cheney believes he may have authorized the shooting down of an American passenger jet. Rumsfeld seems skeptical, but he doesn't really know either. I'm not sure "changed" is the right word, but I believe that in those 40 minutes--with the nation under attack, with Cheney not knowing if his daughters and grandchildren are safe, with his impression that he's directed a very hard order to some flyboy in the U.S. Air Force, possibly killing another 200 Americans--that Dick Cheney resolved to do whatever it would take to protect this country, regardless of the cost to his reputation or popularity. I respect him for that, and I empathize with him.
Steyn's latest howler
It’s worth noting that, by most if not all of her multiple accounts, Nancy Pelosi is as guilty of torture as anybody else. That’s not an airy rhetorical flourish but a statement of law. As National Review’s Andy McCarthy points out, under Section 2340A(c) of the relevant statute, a person who conspires to torture is subject to the same penalties as the actual torturer. Once Speaker Pelosi was informed that waterboarding was part of the plan and that it was actually being used, she was in on the conspiracy, and as up to her neck in it as whoever it was who was actually sticking it to poor old Abu Zubaydah and the other blameless lads.
Where is Where is John Galt?
13.5.09
12.5.09
10.5.09
CBK.com update
29.4.09
Herein, the glass half-full
Still, the tea parties are not based on the cold wonkery of budget data. They are based on an "ethical populism." The protesters are homeowners who didn't walk away from their mortgages, small business owners who don't want corporate welfare and bankers who kept their heads during the frenzy and don't need bailouts. They were the people who were doing the important things right -- and who are now watching elected politicians reward those who did the important things wrong.
27.4.09
The Dear Leader notices things
Laying his plan for a President’s Council of Advisors on Science and Technology, Obama began to name the members of PCAST listed in his prepared remarks – before realizing he’d already introduced them, earlier in his speech.
“In addition to John – sorry, the – I just noticed I jumped the gun here,” Obama said, pausing for several seconds as he looked at the prompter. “Go ahead. Move it up. I had already introduced all you guys.”
PJ O'Rourke goodness
t's going to be hard to do a worse job running America than the Republicans did, but the Democrats can do it if anyone can.The Left is the party of government activism - the party that says government can make you richer, smarter, slimmer, taller, and take a dozen strokes off your golf game.The Right is the party that says government doesn't work. And then they get elected and prove it.
26.4.09
Excellent essay
Our enemies bomb restaurants, shopping malls and night clubs, shoot their own citizens in soccer stadiums, behead Americans on the internet, fly planes into buildings, imprison or shoot their citizens who speak out against the government, threaten to vaporize Israel off the planet and who knows what else. Yet we have these 4 pompous freaks wanting to criminalize sticking a guy's head under water in a bathtub?
Funny
Anyone who’s figured out that Global Warming is socialism disguised as nonsense will immediately understand why DisneyNature’s “Earth” was dropped into theatres and aimed at your children on Earth Day.
In civil rights news...
22.4.09
In other news, Democrats still hate children
And all along the administration indicated that pending evidence that this voucher program or any other produces better test scores for students they were willing to fight for it. The president has said that when it comes to better schools he is open to supporting “what works for kids.” That looked like a level playing field on which to evaluate the program and even possibly expanding the program.
But last week Secretary Duncan announced that he will not allow any new students to enter the D.C. voucher program. In fact, he had to take back the government’s offer of scholarships to 200 students who had won a lottery to get into the program starting next year. His rationale is that if the program does not win new funding from Congress then those students might have to go back to public school in a year.
He does not want to give the students a chance for a year in a better school? That does not make sense if the students and their families want that life-line of hope. It does not make sense if there is a real chance that the program might win new funding as parents, educators and politicians rally to undo the “bigotry of low expectations” and open doors of opportunity — wherever they exist — for more low-income students.
20.4.09
This actually is change I can beleive in
19.4.09
Well, you have to admit it's change
While historic analogies are never perfect, Obama's stark efforts to change the U.S. image abroad are reminiscent of the stunning realignments sought by former Soviet leader Michael Gorbachev. During his short—by Soviet standards—tenure, he scrambled incessantly to shed the ideological entanglements that were leading the communist empire toward ruin.
But Obama is outpacing even Gorbachev. After just three months in power, the new American leader has, among many other things:
—Admitted to Europeans that America deserves at least part of the blame for the world's financial crisis because it did not regulate high-flying and greedy Wall Street gamblers.
—Told the Russians he wants to reset relations that fell to Cold War-style levels under his predecessor, George W. Bush.
—Asked NATO for more help in the fight in Afghanistan, and, not getting much, did not castigate alliance partners.
—Lifted some restrictions on Cuban Americans' travel to their communist homeland and eased rules on sending wages back to families there.
—Shook hands with, more than once, and accepted a book from Hugo Chavez, the virulently anti-American leader of oil-richVenezuela.
—Said America's appetite for illegal drugs and its lax control of the flow of guns and cash to Mexico were partly to blame for the drug-lord-inspired violence that is rattling the southern U.S. neighbor.
Steyn's latest on the Tea Parties
Amid his scattershot pronouncements on everything from global nuclear disarmament to high-speed rail, President Obama said something almost interesting the other day. Decrying a “monstrous tax code that is far too complicated for most Americans to understand,” the Tax-Collector-in-Chief pledged: “I want every American to know that we will rewrite the tax code so that it puts your interests over any special interests.”
That shouldn’t be hard. A tax code that put my interests over any special interests would read: “How much did you earn last year? [Insert number here] thousand dollars? Hey, feel free to keep it. You know your interests better than we do!”
Okay, to be less absolutist about it, my interests include finding a road at the end of my drive every morning, and modern equipment for the (volunteer) fire department, and a functioning military to deter the many predators out there, and maybe one or two other things. But 95 percent of the rest is not just “special interests” but social engineering — a $400 tax credit for falling into line with Barack Obama and Susan Roesgen. That’s why these are Tea Parties — because the heart of the matter is the same question posed two-and-a-third centuries ago: Are Americans subjects or citizens? If the latter, then a benign sovereign should not be determining “your interests” and then announcing that he’s giving you a “tax credit” as your pocket money.
16.4.09
15.4.09
Gotta love Ann
On MSNBC, hosts Keith Olbermann and Rachel Maddow have been tittering over the similarity of the name "tea parties" to an obscure homosexual sexual practice known as "tea bagging." Night after night, they sneer at Republicans for being so stupid as to call their rallies "tea bagging."
Every host on Air America and every unbathed, basement-dwelling loser on the left wing blogosphere has spent the last week making jokes about tea bagging, a practice they show a surprising degree of familiarity with.
Except no one is calling the tea parties "tea bagging" -- except Olbermann and Maddow. Republicans call them "tea parties."
But if the Republicans were calling them "tea-bagging parties," the MSNBC hosts would have a fantastically hilarious segment for viewers in San Francisco and the West Village and not anyplace else in the rest of the country. On the other hand, they're not called "tea-bagging parties." (That, of course refers to the cocktail hour at Barney Frank's condo in Georgetown.)
VIDEO: OKC TEA PARTY
13.4.09
Just to be clear...
We all frequently experience ambivalence when faced with a deep and life-changing crossroads in our lives, and the choice of an abortion is an example of that. Women can feel initial sadness, but simultaneously know what she needs to do, that the abortion is the absolute best choice, and ultimately feel resolution, peace, and pride. In fact, many women do feel goodness, empowerment, increased self-esteem, and pride in the wisdom and the awareness that they took control of a frequently chaotic situation - unwanted pregnancy - and made a moral and ethical decision that was beneficial for their lives, their futures, and, ultimately, was also good for society.
Human kindness
Don't do it!
Ironically, the biggest problem is: The people of Hong Kong are just like us! They don’t understand free enterprise any more than Americans understand it. They are no more dedicated to it than we are. They do not think of free-market capitalism as a moral and ethical ideal any more than Americans or Europeans think of it that way.
True enough, people in Hong Kong are aware that theirs has been named the freest economy in the world, and they are proud of that fact — even though capitalism was handed to them by a colonial government that no one in Hong Kong ever voted for. But from what I can tell, they would be perfectly willing to let it die a death of a thousand cuts — just as the rest of the developed world has done.
All signs point in the wrong direction. The government is about to impose Hong Kong’s first minimum-wage law. It is pushing for expansion of the public sector in health care. And when the welfare cash allowances described above were reduced recently, almost all the members of the elected Legislative Council (which acts in an advisory role) protested the move.
12.4.09
Now, for some good news
WASHINGTON (AP) - President Barack Obama twice authorized the military to rescue a U.S. captain held by Somali pirates and whose life appeared to be at risk.
Atlas is shrugging
“After 10 years, I did not see a future for myself,” said Mr. Jung, 42, who quit to parlay his sales expertise into a career at Aladdin Capital, a small but rising investment firm run by others who had also left some of the most venerable names in finance.
There is an air of exodus on Wall Street — and not just among those being fired. As Washington cracks down on compensation and tightens regulation of banks, a brain drain is occurring at some of the biggest ones. They are some of the same banks blamed for setting off the worst downturn since the Depression.
11.4.09
6000 words about taxes, Taylor Swift and Game Theory
Ragnaar is screaming
As it happens, Somali piracy is not a distraction, but a glimpse of the world the day after tomorrow. In my book America Alone, I quote Robert D. Kaplan referring to the lawless fringes of the map as “Indian Territory.” It’s a droll jest but a misleading one, since the very phrase presumes that the badlands will one day be brought within the bounds of the ordered world. In fact, a lot of today’s badlands were relatively ordered not so long ago, and many of them are getting badder and badder by the day. Half a century back, Somaliland was a couple of sleepy colonies, British and Italian, poor but functioning. Then it became a state, and then a failed state, and now the husk of a nation is a convenient squat from which to make mischief. According to Chatham House in London, Somali pirates made about $30 million in ransom and booty last year. Thirty mil goes a long way in Somalia, making piracy a very attractive proposition.
Great piece by Andrew McCarthy at NRO
That’s not our position anymore. The scourge of piracy was virtually wiped out in 19th century because its practitioners were regarded as barbarians — enemies of the human race (hostis humani generis, as Bret Stephens recently reminded us in a brilliant Wall Street Journal essay). They derived no comfort from the rule of law, for it was not a mark of civilization to give them comfort. The same is true of unlawful enemy combatants, terrorists who scoffed at the customs of civilized warfare. To regard them as mere criminals, to assume the duty of trying to understand why they would brutalize innocents, to arm them with rights against civilized society, was not civilized.
Atlas is shrugging
But who and where are all these millionaires to pluck? More than any other state, New York has been hurt by the financial meltdown, and its $132 billion budget is now $17.7 billion in deficit. The days of high-roller Wall Street bonuses that finance 20% of the New York budget are long gone. The richest 1% of New Yorkers already pay almost 40% of the income tax, and the top 0.5% pay 30%.
10.4.09
Well said, from another fan of the Austrian school
What Mises, Hayek and others of the Austrian school patiently demonstrated was that socialism (Marxian or otherwise) is based on a fundamental fallacy that ultimately makes socialism unworkable in practice. Socialism -- the "planned economy," as Hayek often described it -- neglects the function of prices as information by which individuals make their own economic decisions.
Krauthammer goodness
When Austria is mocking you, you're having a bad week. Yet who can blame Frau Fekter, considering the disdain Obama showed his own country while on foreign soil, acting the philosopher-king who hovers above the fray mediating between his renegade homeland and an otherwise warm and welcoming world?
After all, it was Obama, not some envious anti-American leader, who noted with satisfaction that a new financial order is being created today by 20 countries, rather than by "just Roosevelt and Churchill sitting in a room with a brandy."
To be a fly on the, er, picnic table at this brainstorming session
9.4.09
8.4.09
Atlas casting once more
#1: Since the book already a has a following and is now back on the bestseller list, the movie has a built in audience. You don’t really need to cast the Hollywood heavyweights. So, let’s forget about Angelina and mainstream Hollywood for a moment and cast it with no names. OK, maybe the talented lesser known named Hollywooders. Then let’s go to Broadway where the cream of the crop actor’s are, as well as regionally where you’d be sure to find some amazing undiscovered talent. Assuming the screenplay follows the book and the director respects the material, casting stage actors is the cherry on top of this scenario.
Linguistial fortitude
We know boiling frogs we cannot by frogs dropped in water that's hot-- They'll jump from the pan, but boil them we can when water's first cold 'stead of hot. Succeeding in ways Machiavellian without causing leaps to rebellion requires cool linguistics so languages transfixes perceptions that might cause rebellion.
Mystics and Skeptics collide again!
While most of us are familiar with Christopher Hitchens, many people may not know of his opponent Dr. William Lane Craig. I simply call him, “The smartest living Christian.” Like Hitchens, Dr. Craig makes a good living at debate. Dr. Craig is a brilliant logician and eloquent advocate of the faith. He is an “evidentialist” in that he argues for the existence of God based on evidence not presupposition (which is another popular form used in debate).
The anti-Black Swan?
3. People who were driving a school bus blindfolded (and crashed it) should never be given a new bus. The economics establishment (universities, regulators, central bankers, government officials, various organisations staffed with economists) lost its legitimacy with the failure of the system. It is irresponsible and foolish to put our trust in the ability of such experts to get us out of this mess. Instead, find the smart people whose hands are clean.
6.4.09
5.4.09
Still shrugging
This Government, I accept, is not solely responsible for the diminution of decency, but it has played a significant role. It promised much and delivered little. In doing so, it fostered a wrath among those who cling on to the hope that sanity can be restored to high office. These voters will not be found hurling rocks at the Bank of England or setting fire to RBS's head office. But, make no mistake, their yearning for fulsome retribution is palpable.
Be very afraid
Bloomberg News has tallied Washington’s spending and promises as it props up banks, insurers, automakers, and seemingly everyone except hardworking taxpayers who promptly pay their bills. Bloomberg deserves great credit for focusing on this constantly moving target. In its latest estimate, Bloomberg correspondents Mark Pittman and Bob Ivry reported on March 31 that the Federal Reserve, Treasury, Federal Deposit Insurance Corporation, and Department of Housing and Urban Development have saddled taxpayers with $12.8 trillion so far. America’s 2008 gross domestic product was $14.2 trillion. Hence, the federal bailout now equals 90.14 percent of GDP.
4.4.09
A new kind of politics? Yes it is
Lawrence Summers, a top economic adviser to President Barack Obama, pulled in more than $2.7 million in speaking fees paid by firms at the heart of the financial crisis, including Citigroup, Goldman Sachs, JPMorgan, Merrill Lynch, Bank of America Corp. and the now-defunct Lehman Brothers.
He pulled in another $5.2 million from D.E. Shaw, a hedge fund for which he served as managing director from October 2006 until joining the administration.
Unions are evil. What else needs to be said?
In a striking example of corporate hardball, the New York Times Co. has threatened to shut down one of its journalistic jewels, the Boston Globe, unless the New England paper's unions agree to sweeping concessions.
3.4.09
1.4.09
20 Great Poly-Incor statements from Hollywood
"The thing that I resent most is that they [the communists] are able to get into the union, take them over... I feel, that they really ought to be smoked out and shown up for what they are, so that all good, free causes in this country, all the liberalisms that really are American, can go out without the taint of communism." --Walt Disney
Still Shrugging....
USA Today President and Publisher Craig Moon announced his sudden retirement Tuesday, leaving the country's largest newspaper with its top two jobs unfilled during perhaps the most difficult stretch in its 27-year history. He also said the newspaper has lost about 100,000 subscribers just from the slowdown in travel.
Mr. Moon said in an interview that the slowdown has resulted in a reduction of more than 7% in the number of copies of USA Today distributed through partnerships with hotel chains such as Marriott, which account for more than half of its circulation.
Renewed vigor to bring Atlas to the screen
Rand’s popular but polarizing book — it’s derided by many literary critics but has a huge public following — tells the story of Dagny Taggart, a railroad executive trying to keep her corporation competitive in the face of what she perceives as a lack of innovation and individual responsibility
31.3.09
30.3.09
This is why we hate them
Krugman is having his 15 minutes and enjoying it, although at moments, as I followed him around last week, he seemed a little overwhelmed. He is an unusual mix, at once nervous, shy, sweet and fiercely sure of himself. He enjoys his outsider's power: "No one has as big a megaphone as I have," he says. "Aside from the world going to hell, it's great." He is in much demand on the talk-show circuit: PBS's "The NewsHour" and "Charlie Rose" on Monday last week, ABC's "This Week With George Stephanopoulos" this past Sunday. S