The Obama administration remains opposed to federal control. Mr Geithner last week said: “Governments are terrible managers of bad assets.”
Others say he may eventually face no choice. “The danger we face is a Freddie Mac/Fannie Mae scenario where government gives the banking sector guarantees and then socialises the losses,” says Adam Posen, an economist. “That’s the worst thing we could do.”
Wednesday, February 18, 2009
Adam Posen: I do not lack all conviction.
the FT today:
Tuesday, February 17, 2009
Statistically speaking, the more versions of the story he gives, the greater the odds that one of them is correct
News item: Burris now acknowledges fundraising effort for Blagojevich
Best and brightest: This is America. It's different.
NYT's Sheryl Gay Stolberg today:
And given his experience with the Asian financial crisis of the 1990s, some economists wonder how [Larry Summers] could have signed off on a bailout plan that did not force banks to admit that they were insolvent.
“The irony is that Summers and Geithner wrote the textbook on how to manage these crises, and they lectured countries all over the world on what to do,” said Adam S. Posen, deputy director of the Peterson Institute for International Economics, lamenting that they did not “follow through with their own prescriptions.”
Monday, February 16, 2009
Another "why the phokk didn't we know about this before?" sport
Race car driving in snow.
This looks even more exciting than k-mad driving to the train every morning. But instead of this, we get endless hours of @ss#oles playing cards.
This looks even more exciting than k-mad driving to the train every morning. But instead of this, we get endless hours of @ss#oles playing cards.
Sunday, February 15, 2009
Roland Burris has this vote of confidence and it's phokking golden
The former governor's publicist issued a statment today about the Sun-Times story regarding Burris.
"There's absolutely nothing inappropriate that took place between Gov. Blagojevich and Sen. Burris in connection to the governor's appointment of Mr. Burris to the U.S. Senate," the statment said.
"The governor acted ethically and honestly and believes Sen. Burris did too."
"There's absolutely nothing inappropriate that took place between Gov. Blagojevich and Sen. Burris in connection to the governor's appointment of Mr. Burris to the U.S. Senate," the statment said.
"The governor acted ethically and honestly and believes Sen. Burris did too."
Saturday, February 14, 2009
the Pakistani Taliban's #1: alive
ISLAMABAD, Pakistan — Two missiles fired from American drone aircraft killed at least 25 people, including Arab and Uzbek fighters of Al Qaeda and the Taliban, in South Waziristan on Saturday morning, according to a Pakistani intelligence official and local residents.
The attack was on three compounds, including one where the leader of the Pakistani Taliban, Baitullah Mehsud, and foreign and local fighters loyal to him sometimes gather, according to the official and residents.
Mr. Mehsud, one of the most feared leaders in Pakistan’s lawless tribal areas, was not among those killed, according to the official, who spoke on condition of anonymity because he was not authorized to speak to the press.
The attack was on three compounds, including one where the leader of the Pakistani Taliban, Baitullah Mehsud, and foreign and local fighters loyal to him sometimes gather, according to the official and residents.
Mr. Mehsud, one of the most feared leaders in Pakistan’s lawless tribal areas, was not among those killed, according to the official, who spoke on condition of anonymity because he was not authorized to speak to the press.
Thursday, February 12, 2009
Fuck-Rod Wondering What Permutation Of His Name Will Be Used For Steroid Story
MIAMI—Alex "Fuck-Rod" Rodriguez, who has been given many unflattering nicknames by the press during the course of an eventful and turbulent career, found himself wondering what unflattering sobriquet he would be awarded for lying about his steroid use. "I really didn't like being called 'A-Fraud' by my teammates," Stupid-Goddamned-Son-of-a-Bitch-Rod told sources Wednesday. "That was hurtful, and reading it in Joe Torre's book was a real letdown." As of press time, Lying-Prick-Rod was unavailable for comment, as he was busy falsely accusing Sports Illustrated reporter Selena Roberts of trying to break into the Coral Gables mansion in which Complete-and-Total-Sack-of-Flaming-Fucking-Shit-with-Tiny-Shriveled-Balls-Rod currently resides.
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Wednesday, February 11, 2009
Tuesday, February 10, 2009
Idiocracy! The network premiere - Comedy Central, Sunday 10pm Effete Snob Time, 9pm God's Time
If this doesn't make you want to watch it, you probably don't want to watch it.
Wishful thinking?
Or Freudian Slip? Or maybe we've found W's new occupation?
South African TV channel makes 'Bush is dead' Bushism
South African TV channel makes 'Bush is dead' Bushism
42% of Chicagoans Agree: WE SUCK
Forbes lists Chicago among nation's miserable cities
Chicago is America's third most miserable city, beating out bleak towns like Flint, Mich. and Buffalo, NY, according to a recently released Forbes magazine list.
Chicago's dubious ranking comes just six months after the magazine dubbed Chicago the most stressed-out city in America.
The magazine said Chicago's weather, long commute times, rising unemployment and the country's highest sales tax earned it the number three spot on the list, below Stockton, Calif. and Memphis.
For the first time this year, Forbes used "corruption" as a factor when ranking America's 150 largest metropolitan areas in order of misery, according to Forbes.com.
"Illinois' record of public corruption, particularly in the governor's office, is staggering," the article says. "Five of the past nine governors have been charged with crimes, and three, as of now, have served time in prison." To add insult to injury, the magazine writes that people have been migrating out of the city the last seven years, and that the Cubs' 100 year long title drought is 40 percent longer than any other major professional sports team.
Forbes used nine factors -- commute times, corruption, pro sports teams, Superfund sites, income and sales taxes, unemployment, violent crime and weather -- when ranking the cities.
Following Stockton, Memphis and Chicago are Cleveland, Modesto, Calif., Flint, Detroit, Buffalo, Miami and St. Louis.
Read the entire Forbes article "America's Most Miserable Cities."
POLL RESULTS ::
Is Chicago a miserable city?
Yes
42%
252 votes
No
57%
336 votes
Total Votes: 588
Of course, Steve "Flat Tax" Forbes: MAJOR DOUCHEBAG. (--ed.)
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Chicago is America's third most miserable city, beating out bleak towns like Flint, Mich. and Buffalo, NY, according to a recently released Forbes magazine list.
Chicago's dubious ranking comes just six months after the magazine dubbed Chicago the most stressed-out city in America.
The magazine said Chicago's weather, long commute times, rising unemployment and the country's highest sales tax earned it the number three spot on the list, below Stockton, Calif. and Memphis.
For the first time this year, Forbes used "corruption" as a factor when ranking America's 150 largest metropolitan areas in order of misery, according to Forbes.com.
"Illinois' record of public corruption, particularly in the governor's office, is staggering," the article says. "Five of the past nine governors have been charged with crimes, and three, as of now, have served time in prison." To add insult to injury, the magazine writes that people have been migrating out of the city the last seven years, and that the Cubs' 100 year long title drought is 40 percent longer than any other major professional sports team.
Forbes used nine factors -- commute times, corruption, pro sports teams, Superfund sites, income and sales taxes, unemployment, violent crime and weather -- when ranking the cities.
Following Stockton, Memphis and Chicago are Cleveland, Modesto, Calif., Flint, Detroit, Buffalo, Miami and St. Louis.
Read the entire Forbes article "America's Most Miserable Cities."
POLL RESULTS ::
Is Chicago a miserable city?
Yes
42%
252 votes
No
57%
336 votes
Total Votes: 588
Of course, Steve "Flat Tax" Forbes: MAJOR DOUCHEBAG. (--ed.)
~
Monday, February 9, 2009
Boo di freaking Hoo
You Try to Live on 500K in This Town
I'm sure the 15,000 people you laid off also feel sympathetic to your 500k plight.
I'm sure the 15,000 people you laid off also feel sympathetic to your 500k plight.
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