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What the HELL is going on?!

Oil covered pelican on island off Louisiana coast (MSNBC)

Why isn’t President Obama mobilizing every possible resource to deal with the mess that BP has made in the Gulf of Mexico? What the HELL is going on here? Now is the time for action, not “just words.” I’m getting sick and tired of seeing photos of dead and dying sea birds and pools of oil ruining irreplaceable marshlands.

Frustration grows over oil spill says CNN. No f*cking kidding!! According to CNN, Interior Secretary Ken Salazar said today that

If the government finds out that BP is “not doing what they’re supposed to be doing, we’ll push them out of the way appropriately, and we’ll move forward to make sure everything is being done to protect the people of the Gulf Coast, the ecological values of the Gulf Coast and the values of the American people,”

So what is he waiting for? It’s been about a month since the oil started gushing out. It’s pretty obvious BP has no clue how to stop it.

Marcia McNutt, director of the U.S. Geological Survey, told reporters that while BP has failed to meet its own schedule for stopping the gusher, their schedule was probably not feasible from the outset given that the tasks involve construction, mobilizing equipment and fabricating devices.

“I think everyone has to understand that the kinds of operations they’re doing in the deep sea have never been done before,” said McNutt, who is helping lead a team of scientists from the Department of Energy, NASA and others in helping find a solution to the leak.

So why the HELL were they allowed to drill a hole deeper than Mt. Everest is high then? Should there have been a plan A, plan B, and plan C already prepared in case of an emergency?

Why the HELL are we allowing a foreign oil company to run the show while the gross and disgusting mess they have made gets worse and worse and damages our country’s precious natural resources forever and kills off endangered species like the brown pelican?

Does Obama really want the Mississippi River to be permanently fouled with BP oil? Does he really want New Orleans to become a ghost town? Again, I ask, what the HELL is going on here?

I read this post by Rayne at FDL last night: “White House in Denial; Public Wants Real Action on BP Oil Disaster NOW” and finally it has made it onto Memeorandum. Perhaps it will get some attention. Rayne writes:

It’s been more than 30 days since the Deepwater Horizon rig exploded and the well nearly a mile below on the sea floor began to erupt oil and methane, killing 11 of our fellow citizens and injuring even more both immediately and in the continuing damage which followed.

And nothing has happened of any consequence since then.

Oh, we’ve had a Category 5 hurricane of hot air, some decent questions from Congressional hearings, but zippo-zilch-nada in the way of an effective solution.

I agree. It’s waaaayyyyy past time for some action! Rayne offers 11 suggestions, beginning with:

1) Obama needs to use that goddamned unitary executive power he’s been clinging to and declare a state of emergency in federal waters along the Gulf of Mexico, using an Executive Order. This is now an international situation, not just an American one, because the oil will eventually end up in the North Atlantic.

and ending with:

11) And right now I’m tempted to tell one Barack Obama to get really, genuinely excitedly-upset, be more than that Spock character for once, add the passion of Captain Kirk and the anger of Dr. McCoy in the mix. That fakery last week only made us heave with nausea.

Not likely Obama will show any genuine emotion, but maybe someone could help him figure out how to fake it. While the US media remains mostly cowed by the WH’s efforts to pretend this ecological horror isn’t really happening, the UK press is covering the very real damage that has already been done. From the Daily Mail:

A pelican colony off Louisiana’s coast was seen awash in oil yesterday with birds and their eggs coated in the ooze.

Nests rested in mangroves precariously close to the crude that had washed in.

Workers had surrounded the island with oil-absorbing booms, but puddles of oil had seeped through the barrier.

Anger with the government and BP PLC, which leased the rig and is responsible for the cleanup, has boiled over as more wildlife and delicate coastal wetlands are tainted.

The story says that Obama has sent some “officials down to survey the damage.” Isn’t it a little bit late for that? How about we actually DO something like kick BP out of the Gulf and then prosecuting them to the full extent possible? And then how about listening to the scientists who are evaluating what is really happening, but are being ignored by the do-nothing Obama administration? And Salazar should be gone yesterday.

I read in Dakinikat’s post from last night that some communities are actually trying to raise their own money to try to deal with the oil. What the HELL??!!! What is wrong with our government? And what is it going to take for Americans to rise up and demand real change? We need leadership right now, and if President Obama can’t do the job, he should step aside so we can find someone else who will.

From Daily Mail: nesting pelicans as oil washes ashore

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Friday Afternoon News and Views: Have We Finally Reached A Tipping Point?

The boiling point

Tipping points: the levels at which the momentum for change becomes unstoppable; the moment of critical mass, the threshold, the boiling point. (Malcolm Gladwell)

Was the special election for the Massachusetts Senate seat the final straw for Obama supporters and for Obama’s corporate agenda? It sure looks that way. The signs are everywhere: prog blogs are in chaos, big media is finally beginning to notice that Obama is arrogant and out of touch, and even the most far-gone Koolaid drinkers are beginning to sober up. Firedoglake is morphing into a blog that resembles TC back in June of 2008.

Oddly, Krugman is still hanging in there with the Koolaid Krowd. He wants the House to pass the Senate bill right away. WTF?! Just what drug did they feed him at that White House dinner anyway? Or are the bosses at the NYT holding a gun to his head as he writes his columns?

Elsewhere, all around the ‘net, hundreds of Koolaid drinkers are jumping on the wagon every day. Let’s take a brief tour.

At The Nation, William Greider calls the Massachusetts election results a “pie in the President’s face.”

The special election displayed monumental miscalculations by which Obama has governed, both in priorities and political-legislative strategies. It may seem perverse and unfair, but the president’s various actions for reform generated a vaguely poisonous identity. Amid the general suffering, Obama is widely seen as collaborating with two popular villains–the me-first bankers and over-educated policy technocrats of the permanent governing elite. Obama made nice with the bankers and loaded up his administration with Harvard policy wonks who really don’t know the country. These malignant associations gain traction because people see there are grains of truth in observable reality.

Greider still has a way to go–he still adores Obama’s “soaring rhetoric,” and he thinks Obama just followed the advice of his bad advisers and needs to fire them and hire new ones. But it’s a start. Greider is a smart man. He’ll get it eventually.

Drew Westen has been on Obama case for awhile now, but this post is even more emphatic than the past few he has written.

The President’s steadfast refusal to acknowledge that we have a two-party system, his insistence on making destructive concessions to the same party voters he had sent packing twice in a row in the name of “bipartisanship,” and his refusal ever to utter the words “I am a Democrat” and to articulate what that means, are not among his virtues. We have competing ideas in a democracy — and hence competing parties — for a reason. To paper them over and pretend they do not exist, particularly when the ideology of one of the parties has proven so devastating to the lives of everyday Americans, is not a virtue. It is an abdication of responsibility.

I’ve got his book The Political Brain lying around here somewhere. Maybe I’ll read it.

And it sure does look like Obama’s agenda is about to topple over, doesn’t it? Roll call has the startling news that Ben Bernanke’s reappointment is in trouble. It’s subscription only, but D-day has quotes at FDL.

Ben Bernanke’s nomination to serve a second term as chairman of the Federal Reserve appears to be in peril. Bernanke is up for a second term at the Fed; his current term expires in 10 days on Jan. 31. A handful of Senators had previously threatened to filibuster the nomination, but this week the number of opposing lawmakers appeared to grow, further dimming his prospects for installment.

“I think it’s worthy of a review,” said Sen. Bob Casey (D-Pa.), who is undecided.

Majority Leader Harry Reid (D-Nev.) met with Bernanke on Thursday, one day after Democrats voiced concerns during their weekly policy luncheon about the nomination. In a statement after his meeting with the Fed chairman, Reid was coy, saying the two met “to discuss the best ways to strengthen and stabilize our economy.” […]

At Wednesday’s Democratic caucus meeting, according to Senators, liberals spoke out against confirming Bernanke for a second term. Those liberals tried to make the case that the White House needs to put in place fresh economic advisers to focus on “Main Street” issues like unemployment rather than Wall Street concerns. Moderates were more reserved, Senators said, but have similarly withheld their support for Bernanke.

Wow!

At Politico: Dem health care talks collapsing

Health care reform teetered on the brink of collapse Thursday as House and Senate leaders struggled to coalesce around a strategy to rescue the plan, in the face of growing pessimism among lawmakers that the president’s top priority can survive.

The legislative landscape was filled with obstacles: House Democrats won’t pass the Senate bill. Senate Democrats don’t want to start from scratch just to appease the House. And the White House still isn’t telling Congress how to fix the problem.

Also at Politico: White House caught in Democrats’ crossfire

Congressional Democrats — stunned out of silence by Scott Brown’s victory in Massachusetts — say they’re done swallowing their anger with President Barack Obama and ready to go public with their gripes.

If the sentiment isn’t quite heads-must-roll, it’s getting there.

Hill Democrats are demanding that Obama’s brain trust — especially senior adviser David Axelrod and chief of staff Rahm Emanuel — shelve their grand legislative ambitions to focus on the economic issues that will determine the fates of shaky Democratic majorities in both houses.

And they want the White House to step up — quickly — to help shape the party’s message and steer it through the wreckage of health care reform.

Double wow!

And get this: even NOW is waking up!!!!!

As Democrats weigh options for health reform following a major setback in the Massachusetts election, the nation’s leading womens’ rights group blasted the legislation as “beyond outrageous.”

The National Organization for Women (NOW) harbors deep concerns with the Senate health legislation, and exclaims that “women will be better off with no bill whatsoever.”

“The Senate bill contains such fierce anti-abortion language, and there are other problems from the point of view of women,” NOW’s President Terry O’Neill told Raw Story in an interview.

O’Neill said NOW “will not support candidates in 2010 if they vote for it.”

Triple Wow!!!!

Will Scott Brown be the savior of the Democratic Party? It’s too early to tell yet, but it does look like we’ve reached a tipping point. Please post your own “tipping point” links in the comments.

HAVE A FABULOUS FRIDAY!!!!!!!

The “screaming woman” who confronted Jane Hamsher on C-Span wasn’t actually screaming

Jane Hamsher of Firedoglake

I admit I have been warming up to Jane Hamsher a bit in the past couple of weeks because of her strong fight against the abortion language in the health care bill. But apparently I got fooled again. We’ve all read and discussed Jane’s post, “Shaking Off the Hangover of the Primary Wars.” Riverdaughter did a spectacular verbal takedown of Jane’s rationalizing yesterday.

The post itself is troubling enough, but Jane’s comments about Hillary Clinton and her supporters in the thread clearly demonstrate that she (Jane) is not yet ready to take responsibility for actions she took or did not take during the divisive primary fights of 2008.

Many of us were able to see through Obama early in the primary process–after doing our own research on his character and his political experience (or lack thereof). But Jane claims that her site remained neutral throughout the primaries because there were no significant policy differences among the top three candidates, Obama, Clinton, and Edwards.

It’s true that FDL did not publicly endorse a candidate, but the posts and comment sections certainly favored Obama. It’s possible Jane couldn’t control the Axelrod astroturfers and just threw up her hands, as Digby did. But she allowed her comment sections to be infested with abusive language toward Clinton and anyone who defended her. And she banned commenters who complained about the bullying.

Jane writes:

Sophisticated campaigns marketed the candidates as personalities and people became attached to them and felt like they knew them. Everyone who opposed them was the “enemy,” rhetoric was amped up and overheated, identity politics were exploited by both sides as strategic campaign elements and suddenly the blogosphere was a giant pie fight.

We made the decision to stay true to our charter and didn’t take sides, pledging to support the candidate that emerged with the nomination. We believed that once the election was over and we could get back to discussing issues again and evaluating politicians on both sides of the aisle with the same yardstick, we’d be back in our element.

She assumes that everyone who followed the primary battles focused on candidates as personalities rather than looking closely at their characters, policy goals, and personal accomplishments. She could not be more wrong. Most of us didn’t support Hillary Clinton for her personality. I actually began the primaries as an “anyone but Hillary” voter. But her performances in the debates convinced me she was the best candidate. It wasn’t about her personality or about her husband, and it wasn’t about her gender–although I admit I would have liked to see a woman President in my lifetime. I supported Clinton because she showed herself to be smart, knowledgeable, and most of all issue-oriented.

Obama, on the other hand, was all about Obama. He never was specific about issues, he never demonstrated any commitment to Democratic ideology. He admired Ronald Reagan, for heaven’s sake! He cozied up to fundamentalist preachers their anti-abortion, homophobic followers. Most damning of all, it became obvious from his many comments about and to Hillary Clinton and Sarah Palin that Obama was a misogynist through and through.

I knew Hillary was more conservative than I am, and I knew I probably wouldn’t be happy with her Iraq and Afghanistan policies. But I was even more concerned about domestic issues. All I wanted was a Democrat in the White House who would fight for universal health care and would protect what is left of our social safety net. Instead, thanks to people like Jane and Markos, we ended up with a Republican pretending to be a Democrat–who, if anything is as bad or worse than George W. Bush.

In the discussion thread attached to her post, linked above, Jane posted this comment:

“I had a woman call up and scream at me when I was on CSPAN the other day for all the horrible things Markos and I had done to Hillary Clinton during the primaries, telling me that I had destroyed the Democratic party.

“And I’m like, seriously? I know some people you should meet, you guys would have an interesting fight.”

Many thanks to Gweema for posting the link to Jane Hamsher’s appearance on C-Span’s Washington Journal on November 26, 2009. I watched the whole thing, and right now I’m practically shaking with anger (want to call me a “screamer,” Jane?).

The women caller on C-Span did no screaming. She did not even raise her voice. Instead, she listed her credentials to confront Jane Hamsher and then did so very articulately. Jane responded with condescending lies and half-truths. I decided to transcribe that portion of the interview so we can dissect it here. The relevant section begins at about 25:50.

Elizabeth from Tennessee, calling on the Democratic line, wishes Jane and the interviewer a happy Thanksgiving and says she appreciates their working on the holiday weekend. Here is Elizabeth’s question:

To Jane Hamsher, I have been a lifelong Democrat, I was very involved in the health care battles of the 90’s. I was involved in actual implementing of town hall meetings back then in Iowa, Wisconsin, and Illinois; so I don’t take a back seat to you.

But in the area of February of 2008, I discontinued reading your blog and also the dailykos blog altogether because of your extreme hatred and villification of another Democratic candidate, and that was Senator Hillary Clinton. [Jane Hamsher rolls her eyes at this point]

I don’t know how much you are aware [of]…how much damage you did and how much damage Markos did–

Hamsher interrupts the caller: “Are you sure you’re talking about our blog? We had Hillary Clinton on [patronizing laughter] …

Elizabeth says: I’m talking about your blog, ma’m, and you should know it. If anyone wants to know they should go read…from that time. [interviewer breaks in and asks when this was, but Elizabeth goes on with her points.]

“You mentioned today that Obama was an anti-war candidate. He was no such thing. In fact, throughout the campaign, he continued to say that Afghanistan was a good war…. ”

[Jane Hamsher breaks in to agree with Elizabeth on this point.]

Elizabeth says: “You really caused a lot of people to leave the Democratic party during the 2008 campaign. And I’m telling you now, I’m sorry that you’re sick, I’m sorry that you’ve had three bouts with the cancer, but I’m gonna say this. You are going to be shown exactly what damage you caused our party last primary season, and I will never forgive you for that.”

Elizabeth was a bit harsh at times, but she maintained a level tone of voice and did. not. scream. In fact I’d have to say that Jane’s characterization of Elizabeth’s presentation as “screaming” verges on sexism. Perhaps Jane has some unconscious issues in that department.

Here is Jane’s response [highlighting is mine]:

I know that there was a certain class of women who decided that they would start supporting John McCain over what they thought was bad treatment of Hillary Clinton. In fact…I took a video at the Rules Committee meeting, a woman, Harriet Christian who said that…she was not going to support a party who would have an inept black man as a candidate, and that became a…rallying point for some people.

We didn’t take a position…in the primaries. We said that we would support whoever was the winner and in fact had Senator Clinton as a guest on the blog, so I think we represented all viewpoints. I think there were people their who were Hillary Clinton partisans; I think that there were people there who were Barack Obama partisans, and I think that each side…collectively saw the other side as the issue. But I don’t think we were unfair to Senator Clinton, and I don’t believe that the people who left the party to vote for John McCain, who was very much an anti-choice candidate, a pro-war candidate, reflect the same values that I have anyway, or reflect the values of Senator Clinton.

There is so much wrong with Jane’s response that I don’t know where to begin. You do need to watch the video–her facial expressions while listening to the caller and responding to her are unbelievably patronizing and condescending. It is evident from her use of the words “class of women” that Hamsher sees herself as superior to these working class (?), pathetic women (though we’re not all women by any means) who mistakenly think that Hillary Clinton was treated unfairly. In addition she twists Harriet Christian’s words in order to imply that Harriet is a racist.

And what the f&ck is it these people don’t understand about protest votes anyway?

I honestly think that Jane’s rationalizing is an unconscious defense mechanism. Now that she has seen what Obama really is–a DINO, a conservative hack, maybe just barely qualifying as a Rockefeller-style Republican–she has to go back and try to cover up her own behavior during the primaries. But Jane has a very very long way to go before she understands the damage that she and the other A-list bloggers caused. I sincerely doubt that she will ever take responsibility for her actions–or lack of actions. For one thing, Jane was at the Rules Committee meeting and apparently she had absolutely no problem with Obama being given delegates belonging to to Clinton or with Obama getting delegates from a state he didn’t compete in!

Obviously Riverdaughter demolished Jane’s rationalizing yesterday afternoon, so I don’t have to do it. I’ll just post these three paragraphs from RD’s righteous rant here:

People like me are pretty steamed at you and your buddies. You took away our choice. We didn’t get a fair primary season. We didn’t even get a floor fight. There was no unity, Jane. It was all an illusion. Your guy was forced on many, many Democratic voters because YOU decided that Obama was best for us. And many people swallowed that because they were convinced that Republicans were worse. So they voted for a Democrat and they got a Republican anyway.

Jane, how many times do we have to tell you that it wasn’t about Hillary after May 31, 2008? It was about choice. Remember Choice, Jane? The right to self-determination? The ability to choose your own destiny? If someone else took that choice away from you, you’d be on their doorstep with a bullhorn and wouldn’t let up. But because it was YOUR guy who won, it was OK? What about the choice of the rest of us, Jane? What about CA, NJ, NY, MA, OH, PA, TX, IN, NH, WV, TN, FL, MI and so on and so on? Those big, Democratic states did not vote for Barack Obama in the primaries, Jane. They deserved to cast their votes for the candidate they *did* vote for. I was one of those voters, Jane and I am not letting the Democratic party off the hook for its outrageous behavior towards me and the others. With a primary this close and disputed, the nullification of my vote was unforgivable.

That is why the primary of 2008 isn’t going to go away and why you are going to continue to get angry callers who blame you and your friends for the state of the country under Obama. You took our choice away. Your incredibly high handed and self righteous decision to support Obama and shut down the rest of the party for the supposed good of that party has lead us to this point.

Don’t come crying to me with any more of your action e-mails, petitions, and fund-raising drives, Jane. I figured it out. You think I’m in “a certain class of women” who are beneath your contempt. You won’t get another chance from me, Jane. You’re just not seeing reality clearly yet, and I’m not sure you ever will.

The sh&t is really hitting the fan at the progblogs!

This has been building for a long time, and it seems like we’ve finally reached a tipping point. The prog blogs are in an uproar! Of course Glenn Greenwald has seen Obama for what he is for awhile now, but today he’s really letting it all hang out. Just watch this appearance on MSNBC (h/t Jane Hamsher at FDL):

From Greenwald’s latest post: White House as helpless victim on healthcare

From the start, assuaging the health insurance and pharmaceutical industries was a central preoccupation of the White House — hence the deal negotiated in strict secrecy with Pharma to ban bulk price negotiations and drug reimportation, a blatant violation of both Obama’s campaign positions on those issues and his promise to conduct all negotiations out in the open (on C-SPAN). Indeed, Democrats led the way yesterday in killing drug re-importation, which they endlessly claimed to support back when they couldn’t pass it. The administration wants not only to prevent industry money from funding an anti-health-care-reform campaign, but also wants to ensure that the Democratic Party — rather than the GOP — will continue to be the prime recipient of industry largesse.

But where will they get the votes to stay in office?

Then Greenwald quotes Russ Feingold from The Hill:

“This bill appears to be legislation that the president wanted in the first place, so I don’t think focusing it on Lieberman really hits the truth,” said Feingold. “I think they could have been higher. I certainly think a stronger bill would have been better in every respect.”

Ah…the Schadenfreude… We tried so hard to warn them…

Back to Greenwald:

Yet numerous Obama defenders — such as Matt Yglesias, Ezra Klein and Steve Benen — have been insisting that there is just nothing the White House could have done and all of this shows that our political system is tragically “ungovernable.” After all, Congress is a separate branch of government, Obama doesn’t have a vote, and 60 votes are needed to do anything. How is it his fault if centrist Senators won’t support what he wants to do?

Is there something wrong with me? I’ve gotten to the point where I’m actually laughing about this ghastly mess. I know it’s tragic, but it has gotten so bad that it’s like a horror movie that is so bad, you can’t help laughing at the gore splattering all over the place.

Here is a sampling of the writings of other outraged and disillusioned former Obots.

Jane Hamsher: Robert Gibbs Says Howard Dean is Irrational for Opposing LieberCare (Yes, she has been awake for awhile now too, but why was she banning everyone who questioned Obama back when we could have done something about it?)

From the Big Cheeto:

Even McJoan is finally upset

The White House Lashes Out At Howard Dean

Get this–the commenters are talking about electing Howard Dean in 2012, “after all, if Nixon could make a comeback….”

Barack Obama, Inc., by Cenk Uygur of The Young Turks

At Open Left, Adam Bink The Dangers of Deal Making (Isn’t he the guy who virtually led the Obamabot attack at the Cheeto last year?)

At TPM: Poll: Loss Of Public Option Causes Big Increase In Opposition To Health Care Bill

Josh writes:

A NBC/WSJ poll is coming out tonight that shows a substantial spike in opposition to the Health Care bill. And the internals show the movement is mainly from liberals disappointed in the the decision to drop the Public Option.

How it must have hurt him to write those words!

And at Huffpo, the president and publisher of Harpers Magazine writes: More and More, Obama Seems a Faux Liberal

Ya think?

I knew this day would come, but I never expected it to come in Obama’s first year! Feel free to add your own Schaedenfreude links in the comments. {still can’t stop laughing}

Fashion Model Sues Google to Learn Identity of Cyberstalker

modelslasherbig Samir Dervisevic, a doorman at the Hudson Hotel in New York City, smashed this woman, Liskula Cohen, a Canadian-born fashion model, across the face with a bottle of vodka in January of 2007. Now I know our many lurking trolls are thinking, “the b**ch was probably asking for it.” Well, I guess it depends on your point of view. Here’s what happened. Cohen, who has appeared on the covers of Vogue, Harper’s Bazaar and Elle as well as modeling for Versace and Giorgio Armani, was sitting with friends at Ultra, when Dervisevic and his friend walked by. Dervisevic’s friend grabbed a bottle of vodka off Cohen’s table and poured himself a drink. When Cohen objected,

…she said Dervisevic – a doorman at an Upper East Side building who was born in New York to immigrants from the former Yugoslavia – exploded and threw a drink in her face.

“He called me the c-word and he started yelling at me, and then the bouncer told him to go away. He didn’t,” Cohen said. She then threw her drink on him, and he grabbed the bottle.

“He hit me with a bottle on my left cheek. The glass smashed. I went into shock,” she said.

Bouncers ushered Dervisevic away, and Cohen saw her white knit Ralph Lauren minidress was covered in blood. Continue reading

We already practice socialism

1928-great-depressionthumbnail.jpgScarecrow at FireDogLake has a sobering post this morning. The Republicans are well on their way to making over the US economy in the Iraq model. We are headed into a recession, boys and girls, and it will be a hard landing, complete with rampant inflation, tight credit and a falling dollar. Congratulations, George! You have managed to compare favorably to Hoover. Nice!

Both NPR and Marketplace: Morning Report had extensive coverage of the takeover of Bear Stears by J.P. Morgan this morning. Over the past week, Bears Stearns, “not the nicest bank in town”, went from trading at $30/share to $2/share. And the scary thing is that Bear Stearns investors might have gotten more than the bank is worth at $2. Now, Morgan turns around and borrows the money from *us*, the taxpayers, to buy Bear Stearns. So, essentially, we now own a worthless company, but the people who drove Bear Stearns into the ground are not going to go bankrupt. Hallelujah for them! Not so much for the poor home owners who were suckered into paying extravagant prices for modest housing by getting an adjustable rate mortgage with a teaser rate. Their investments are worth less than the mortgage and they can’t unload it on the government like J.P. Morgan can. So, what we have here is socialism for the rich where we redistribute tax payer wealth from the people who work to the people who invest. What a sweet deal for the well-heeled.

At least one of the interviewees this morning makes this point and goes one further. He says we ought to let the market take care of itself. The impact will be deep if the investment community starts to go bankrupt but it will be soooo much worse if we keep bailing them out. When will they ever learn? What’s the worst that can happen other than some very rich people become suddenly not so rich? If we keep them above water, we just cover up the rot at the hollow core of the finance industry. Cut them loose, let us take the hit and get on with rebuilding.

And it goes without saying that when the $#@% hits the fan, you aren’t going to want a neophyte or a economic lunkhead (by his own admission) be in charge of the fallout. I suspect you want someone who’s actually seen a crisis up close and personal to be in charge.

Web Roundup

roundup.jpgHere are some tasty links that should keep you until dinner: