The new administration passes its first political test: Congress agrees on $790 billion stimulus package, creating 3.5 million jobs. Kadima's Tzipi Livni, hoping to be Israel's Barack Obama, ended up as Israel's Al Gore. In Israeli election, ideology is the only clear loser.
Bank leaders go on the charm offensive, say they have every incentive to lend and are lending. Some representatives call bankers heroes, others say they're connivers. Op: Settle down. Obama's start is actually going rather well. Africom says the U.S. advised, but didn't
Climate change fuels Australian fires--expect more heat waves, drought, extreme weather everywhere. Irreversible does not mean unstoppable. The further we turn the carbon-emissions ratchet, the harder it is to turn it back. Water-line of Greenland ice-melt projected onto British buildings. Though bad for climate change, British
Former Iranian President Khatami attacked by mob. Avoiding the mob so far, Madoff reaches partial settlement for civil accusations; criminal charges remain standing. G.M. vice-chairman and climate-change denier announces retirement, avoids responsibility. Portraits of very small people mucking about in a very big universe. Invitations read: "
The supervisory system "relied on self-regulation that, in effect, meant no regulation." The stimulus package's precise shape, flaws are negated under extraordinary circumstances: Speed is essential. Obama is not excessively didactic--though he did correct one reporter's characterization of the role of excessive
Timeline of dirty secrets and scuttlebutt behind the Merrill/Bank of America marriage. Short answer to the big question: How did this economic crisis really come about? Op: Save the economy by not humiliating your local investment banker in public. Defining the Arbesman Limit: "the maximum number of concepts
Obama pauses Afghan surge, concerned for lack of endgame, eager to avoid a quagmire. U.S. aids Ugandan troops fighting terrorism, fails to appreciate volatility of Congolese border, swats the hornet's nest. A posh time was had by all, and they remained in the pink. Postcards from grandparents&
Fidel Castro accuses Obama of supporting genocide, blasts "protectionist" trade policies. Putin and his colleague friends were all dancing and getting involved with the choreography. Putin enjoys Abba cover band. Sobering news about the economy: Cars are being dumped at the Dubai airport. U.S. lost 600,000
Notes on yesterday's bipartisan stimulus trim session sound frighteningly amateur, silly, and unschooled. Apparently not a "criterion" for "what creates jobs," cuts include "huge chunks" of education funds. Paulson overpaid $78 billion on bank assets despite promising he'd buy at
Clear, interesting take on what to make of arguments about the stimulus package (see further earmarks). Perhaps for posterity, Henry Paulson is making sure China doesn't believe he blames it for the crisis. Instapaper for the commute: Fur and leather factories slow production, and China migrates into the
