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
Obama details plan for bailout companies: executive pay will be capped, luxury purchases must be disclosed. Op: Obama's stand on bailout executives is akin to Reagan's firing of air-traffic controllers--a new gist for a new era. Lux Interior, lead singer of the Cramps, dies
Daschle withdraws nomination; Obama takes responsibility, says "I screwed up." In only his second week in office, Barack Obama is punching the restart button on his presidency. "History is against us, the terrain is against us, many of the people are against us." The Afghanistan conflict
While everyone watched Daschle and Killefer, Gregg slipped through the door--will he sharpen his pork knives? Various millions and billions earmarked in the Senate stimulus bill. Round-up of various all-inclusive ski lodges. North Carolina cities ranked top locales for starting new businesses. D.C. residents beware: That
Palestinian-American college student loses both brothers in Gaza attack. More than 20 million migrant Chinese have lost their jobs and gone home. Video: Chinese Premier Wen Jiabao gets a shoe lobbed at his head. Economy looks good for cobblers, bad for expensive watch makers. European leaders outraged by the
