Editore"s Note
Tilting at Windmills

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September 16, 2008

TUESDAY'S MINI-REPORT.... Today's edition of quick hits:

* As expected, the Fed left interest rates unchanged.

* Pakistan is threatening to shoot at U.S. Special Forces that enter their country without an invitation.

* Democrats are suing to prevent Michigan Republicans from challenging voters based on home foreclosures.

* Fascinating item in Salon on Todd Palin.

* Under the circumstances, McCain may want to learn the initials for the Securities Investor Protection Corporation.

* Charlie Rangel doesn't plan on giving up his gavel.

* CNN's Candy Crowley offers a good example of what's wrong with the media's campaign coverage.

* MSNBC's Jon Decker offers a good example of what's ridiculous about the media's campaign coverage.

* McCain is, even now, lying about the Bridge to Nowhere.

* If it seems like the media is blatantly ignoring Joe Biden, it's because the media is blatantly ignoring Joe Biden.

* Push-polls rear their ugly head? Maybe.

* Reporters aboard McCain's plane are getting a little restless.

* Harry Reid sees similarities between McCain and Herbert Hoover. Paul Krugman is thinking along the same lines.

Anything to add? Consider this an open thread.

Steve Benen 5:30 PM Permalink | Trackbacks | Comments (63)

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Comments

Straight outta Venice....

Gondoliers For Obama

This one really plucks the old heartstrings!

Posted by: MissMudd on September 16, 2008 at 5:36 PM | PERMALINK

Just pointing out that I made a McCain/Hoover joke in the Election Round-Up yesterday. It's not often I think of something before Krugman talks about the same thing.

Posted by: Shalimar on September 16, 2008 at 5:37 PM | PERMALINK

An entire town in rural Alaska is being evacuated. Not because of any imminent danger, but because their electricity is being shut off, because they can't afford to pay their bills.

What is Sarah Palin doing about this? Nothing.

Posted by: NB on September 16, 2008 at 5:39 PM | PERMALINK

Candy Crowley is not a journalist, Candy Crowley is a pig with lipstick on. Yes, I went there.

Posted by: The Galloping Trollop on September 16, 2008 at 5:47 PM | PERMALINK

* Harry Reid sees similarities between McCain and Herbert Hoover. Paul Krugman is thinking along the same lines.

Yes, but only if he's elected. Shrub, though, is Hoover, and Harding and Reagan and pretty much every other incompetent and dishonest president we've ever had. He's managed to take a little bit (or a lot) of them all and make it all his own.

Posted by: Jeff II on September 16, 2008 at 5:47 PM | PERMALINK

I especially like the one about the reporters revolting. McHoovers handlers have decided he can be trusted with his own mouth. He even fucks things up when reading a stump speech. (Fundamentally sound economy WTF) Same reason they won't let McMoose loose. I hope this the start of something - one of them has got to say, screw this I am going to get off the plane and tell the truth about this campaign.

Posted by: John R on September 16, 2008 at 5:49 PM | PERMALINK

And Bush had a benign lesion removed. The one, lone benign part of him, and he had it removed.

Posted by: Anon on September 16, 2008 at 5:50 PM | PERMALINK

McCain has a new economic ad out today titled "Enough is Enough."

Let me get this straight.

Obama runs on a message of "Change."
When it works, McCain adopts a message of "Change."

Obama gives a speech just days ago saying "Enough is Enough!"
McCain releases an ad titled "Enough is Enough."

Clearly, Obama needs to start saying "Johm McCain hasn't had an original thought in his life." It would only be a matter of time before McCain announced, "John McCain hasn't had an original thought in his life."

Explain to me again how anyone likes, respects, or remotely thinks this man should be President of the local Elks Lodge, much less of the United States?

Posted by: zeitgeist on September 16, 2008 at 5:53 PM | PERMALINK

Zeitgeist: Explain to me again how anyone likes, respects, or remotely thinks this man should be President of the local Elks Lodge, much less of the United States?

Er...that's the Exalted Ruler to you!

Posted by: on September 16, 2008 at 6:09 PM | PERMALINK

Steve -- do you have access to Lexis/Nexis? Can you find any old statements from McCain about the Gramm-sponsored banking deregulation that McCain voted for?

Posted by: Brian on September 16, 2008 at 6:15 PM | PERMALINK

Charlie Rangel doesn't plan on giving up his gavel.

He should--at least while he's under investigation.

Posted by: CJ on September 16, 2008 at 6:16 PM | PERMALINK

As expected, the Fed left interest rates unchanged.

No problem. I picked me up a sweet little sub-prime loan!

That's Just What I Said

Posted by: Dale on September 16, 2008 at 6:19 PM | PERMALINK

Charlie Rangel doesn't plan on giving up his gavel.

He should--at least while he's under investigation. Posted by: CJ

Agreed. If he'd got nothing to hide (which I doubt), he needs to step aside. I'm afraid he's probably fairly corrupt, and if the Dems are going to really rule in 2009, we need to be way above this kind of crap.

Posted by: Jeff II on September 16, 2008 at 6:20 PM | PERMALINK

Todd, Todd, Todd, why were you so nosy that you're going to blow the "executive privilege" defense for your wife? See, because you were copied on ~40 of the affected emails, and NOT a gov't employee, that made it public knowledge and subject to disclosure.

I was interested to see how Newsweek is jumping on the anti-Palin bandwagon, we'll see how long it lasts. Remember that the closer the horse race, the better the sales and the ratings.

I still think McSame drops out. Now whether Palin is a useful enough tool for Darth and TBlossom, (FWIW I think she is based on what she's been doing) might still be an open question, however she's certainly shameless enough.

My thoughts on Jeb are now going to get revised, since he's one of the recent (2007, therefore early enough to be responsible) hires in the financial crisis, Goldman Sachs and/or AIG. Add to that the cousin George H Walker and we have the anti-Midas touch of the Bu$h family. Ye gods. No way Jeb can spin this politically [Obama's just getting cranked up, and it IS the economy], so who's the safe haven for the cabal?

Maybe Darth stays on.

On Rangel, he should give up the gavel, until he is cleared. No need to wallow in RSR filth.

Posted by: rugger0 on September 16, 2008 at 6:32 PM | PERMALINK

Why isn't anyone covering the Galveston story?
An article on Burnt Orange Report tells of bodies in trees, about 1500 of them and more in ditches. Why are the media ignoring this?

Posted by: JS on September 16, 2008 at 6:36 PM | PERMALINK

"Ladies and gentlemen, attention please;
come in close so everyone can see
I got a tale to tell - a listen don't cost a dime:
and if you believe that, we're gonna get along just fine"

Steve Earle, from "Snake Oil"

Say; now that Heart has demanded Sarah Barracuda stop using "Barracuda" to herald her triumphant walk-ons, what about this tune? Maybe not - there's such a thing as too much truth in advertising. However, if I were a U.S. citizen and a Democrat, I'd think about showing up at every one of her public appearances and playing "Snake Oil" on 11 using the biggest stero I could carry, until her brownshirts showed up to kick me out.

And Anon at 5:50 PM; that was the funniest thing I've read all week. I laughed out loud. Damn, that was a good one.

Posted by: Mark on September 16, 2008 at 6:44 PM | PERMALINK

First, some housekeeping: Jeb was/is involved at Lehman Brothers. At-largely (www.atlargely.com) has a good takedown today on him and Neil. Damn, they're everywhere, Bu$hCo. Anyone seen Piercy of the Dubai Ports fiasco lately? Or Vicki Iseman?

As far as Houston and Galveston, apparently the feds are keeping a total news blackout on the situation. All I've seen is a diary on Kos and some reports about RSR congresscritter Culberson bitchin' about how the responders were left without food and water for themselves. The report it will take a full month to restore power should really make everyone take notice. I'm surprised First Draft hasn't had more on this as well.

This could be far worse than Katrina but we will never be told, since TBlossom has learned that lesson about publicity. Goodhair Perry (the late Molly Ivins' nickname for the TX governor, damn I miss her)should be getting more help because he's a reliable RSR, like Haley Barbour in MS, but this is just Bu$hCo in action. Government won't help, by design, so it can all be privatized.

Posted by: rugger0 on September 16, 2008 at 6:50 PM | PERMALINK

Maybe you should happy the media isn't paying attention to Biden. I know most of you think Obama
is the liberal messiah freeing you from your original sin of being born white but I am not sure his apostle Biden has the power to command someone to stand up from their wheelchair as he did recently. had that been McCain or Palin it would have been run nonstop on MSNBC.

Posted by: johnNJ on September 16, 2008 at 6:50 PM | PERMALINK

Maybe you should happy the media isn't paying attention to Biden. I know most of you think Obama
is the liberal messiah freeing you from your original sin of being born white but I am not sure his apostle Biden has the power to command someone to stand up from their wheelchair as he did recently. had that been McCain or Palin it would have been run nonstop on MSNBC.

Posted by: johnNJ on September 16, 2008 at 7:00 PM | PERMALINK
Pakistan is threatening to shoot at U.S. Special Forces that enter their country without an invitation.

When armed forces of one country "enter [another country] without an invitation", its called an invasion.

A country stating that its military will shoot invaders is kind of routine.

Posted by: cmdicely on September 16, 2008 at 7:11 PM | PERMALINK

I'm not a fan of Hoover but it's completely unfair to compare McCain to Hoover. Wrongheaded economic beliefs notwithstanding, Hoover was a brillant and decent man, who did much good in his life. McCain is scum - his only accomplishments in life are (1) destroying five government airplanes and (2) to make MSM reporters feel that special tingle deep inside.

Posted by: anon on September 16, 2008 at 7:14 PM | PERMALINK

I'm not a fan of Hoover but it's completely unfair to compare McCain to Hoover. Wrongheaded economic beliefs notwithstanding, Hoover was a brilliant and decent man, who did much good in his life. McCain is scum - his only accomplishments in life are (1) destroying five government airplanes and (2) to make MSM reporters feel that special tingle deep inside.

Posted by: anon on September 16, 2008 at 7:15 PM | PERMALINK

Anon,

And Bush had a benign lesion removed. The one, lone benign part of him, and he had it removed.

Ha!


Posted by: Jassalasca Jape on September 16, 2008 at 7:19 PM | PERMALINK

* As expected, the Fed left interest rates unchanged.

Actually, that's not quite true. If you go the Cleveland Fed Site, you'll see that after Monday's bloodbath, the market's were predicting that it was slightly more likely than not that the Fed would cut rates today.

Posted by: anonymous37 on September 16, 2008 at 7:28 PM | PERMALINK

World War III time for what Sarah Palin, John Hagee and similar numbnuts want? Pakistan OKs firing on U.S. troops.

Posted by: SocraticGadfly on September 16, 2008 at 7:32 PM | PERMALINK

CM, last week when Bush announced his hot pursuit policy, I said it was, by international law if not the Bush Doctrine, certainly a casus belli.

Neither the MSM nor the MSLB commented on it much at the time.

Posted by: SocraticGadfly on September 16, 2008 at 7:35 PM | PERMALINK

Jon Stewart did a fantastically funny take last night on his 'love' for Sarah Palin.

Like most good satire, there is a huge grain of salt there...

I do think that many folks are indeed in love with Palin, in a way that's downright frightening given what an incompetent, mean-spirited, arrogant extremist she is.

And she does it all with a smile..

Posted by: on September 16, 2008 at 7:36 PM | PERMALINK

"If it seems like the media is blatantly ignoring Joe Biden, it's because the media is blatantly ignoring Joe Biden." - Yeah, well, just wait until they catch up to this French cuff gaffe. That's a big one. 'Course Biden could say that if you put French cuffs on Joe Sixpack, he's still Joe Sixpack, if he really wants to get some attention.

Seriously, I often wonder what benefit they get from campaigning on the stump if the media ignores them. How many people do they reach? Is it worth it? I don't know. Presumably it is, or they wouldn't do it. But it just doesn't seem productive to me, an off the cuff opinion, I admit.

Posted by: hark on September 16, 2008 at 7:36 PM | PERMALINK

The Pakistani response is perfectly understandable, we'd say the same thing here if the shoe was on the other foot. We'd even extend the footprint out via the Bu$h doctrine.

In a weird sort of way we are in the same kind of pickle here as we were in 'Nam and are in Korea. Pursuit across the border brings unwelcome consequences (war with Russia in the former, war with China in the latter), so the VC and the NKPA got safe havens and we remained on defense.

So, does this all mean imminent war with Pakistan? I don't think so, but it very much will depend on what happens next in the region. Our support of Musharraf means we are not going to get any deference from the current factions in Pakistan, since most from both sides of the political spectrum did not like Musharraf. In short, the current powers will not do anything to help us wipe out the safe havens Bu$h acquiesced to so Mushy would pleasepleaseplease get OBL. So, if we can't get them and they won't get them, what is W gonna do?

Ideas? My 2 cents would be to get the Pakistanis on board for our ops. No ops, no $$$ of any kind. No help either if India decides to do something about their border.

Posted by: rugger0 on September 16, 2008 at 7:38 PM | PERMALINK

I do think that many folks are indeed in love with Palin, . . . Posted by:

Seeing Palin as a MILF is not, by any stretch, the same as being in love with her.

Posted by: on September 16, 2008 at 7:42 PM | PERMALINK

Why isn't that sex-for-oil scandal (SOIL) generating any media attention?

Posted by: hark on September 16, 2008 at 7:45 PM | PERMALINK

Wow, wow, wow, and ouch:

Wow: Phil Gramm authored McCain's economic plan.
Wow: Phil Gramm, along with Greenspan is responsible for the meltdown.
Wow: Phil Gramm is odds on favorite to be Treasury Secretary in McCain's McUSA.

Ouch: Ohio, do you really think that is wise?


Posted by: koreyel on September 16, 2008 at 7:50 PM | PERMALINK

Breaking. The fed is spending $70-$100 billion bailing out AIG. For that amount of money and the amount saved by not paying the expenses of closed health insurance cos., you could nationalize health care and provide coverage to every American.

Posted by: Jan in Stone Mtn on September 16, 2008 at 8:02 PM | PERMALINK

Could somebody either help me break this story or, alternatively, explain to me why it's not all that interesting? It turns out that the "sex ed for kindergartners" that McCain has been bashing Obama for is something Bush has been funding for years and continues to fund to this day.

The latest from the right (including Byron York at NR) is that the Illinois bill allowed the possibility of HIV education for kindergartners. The federal government is paying for that right now, via the CDC and the NASBE, an organization the CDC supports for this purpose.

http://www.reuters.com/article/pressRelease/idUS214774+28-Feb-2008+BW20080228

If McCain actually objects to this, why hasn't he spoken out about it during all these years Bush has funded it?

Please help me break this story. Pester Steve or your preferred liberal blogger to write about it.

More info here:

http://www.dailykos.com/storyonly/2008/9/16/125325/368/417/600624

Posted by: Foo Bar on September 16, 2008 at 8:04 PM | PERMALINK

Why isn't that sex-for-oil scandal (SOIL) generating any media attention? Posted by: hark

Good question. Part of the problem is that the investigation is stale. A lot of the people involved have left Interior. That being said, I agree that it should be a Congressional follow-up now so that we can stick it to some domestic oil people. They need to be pricked with pins (if not kicked in the balls) every chance we get.

Posted by: Jeff II on September 16, 2008 at 8:08 PM | PERMALINK

Rugger0,

You should listen to yesterday's Democracy Now interview with Stephen Coll. I'm not sure I agree with anything he says or writes so take with a huge grain of salt but he did say that the current Pakistani government would make the conditions we'd need to capture Bin Laden more favorable. Also, that the recent suicide bombings have driven Al Queda's "unfavorable ratings" way up amongst ordinary citizens...

--

The benefit of stump speeches is that they get the local media to cover events and they get people talking. If it's not on CNN doesn't mean that people aren't tuned in to it.

Posted by: grinning cat on September 16, 2008 at 8:09 PM | PERMALINK

Open question to the moral McCain majority

If you follow basketball you know that Warriors basketball player Monta Ellis has admitted he lied about the cause of his leg injury. The hot question now in sports circles is: What will be the punishment?

Yes punishment. And yes punishment for lying.
Read that again please:

They [the Warriors] want Ellis to realize that he isn’t above the truth and that he has to act with responsibility. And speak with responsibility."

My question to the moral McCain majority is simple:

Why should a lowly basketball player be held responsible for lying while candidates for President and Vice President appear to suffer no such consequences?

Posted by: koreyel on September 16, 2008 at 8:15 PM | PERMALINK

http://timesonline.typepad.com/uselections/2008/09

Palin linked electoral success to prayer of Kenyan witchhunter

Hannah Strange (sic)

Times Online

The pastor whose prayer Sarah Palin says helped her to become governor of Alaska founded his ministry with a witchhunt against a Kenyan woman
who he accused of causing car accidents through demonic spells.

...
I doubt she knew at the time what else this minister was up to. The sermons at her
own church are far more relevant ...


Posted by: Neil B on September 16, 2008 at 8:31 PM | PERMALINK

* Democrats are suing to prevent Michigan Republicans from challenging voters based on home foreclosures. -- Steve Benen

Just out of curiosity... Does anyone know which house is McCain registered at, as a voter?

* Under the circumstances, McCain may want to learn the initials for the Securities Investor Protection Corporation. -- Steve Benen

Spic??? It's a Freudian slip, I'm sure; straight from the subconscious and perfectly in line with the rest of the GOP's ethnic vocabulary. I expect him to mention "wops" and "gooks" next, unless he can think of something more subtle, like he did with Obama ("uppity" instead of "nigra")

[...] I am not sure his apostle Biden has the power to command someone to stand up from their wheelchair as he did recently. had that been McCain or Palin it would have been run nonstop on MSNBC. -- johnNJ, @19:00

Ya think? The way it had been run nonstop, when the pResident berated a blind man for wearing sunglasses in His Presence? The way it had been run nonstop, when McCain in a pique shoved a woman in a wheelchair out of his way? That same way?

It's a good thing that New Jersey has a limited number of morons like you...

Posted by: exlibra on September 16, 2008 at 8:33 PM | PERMALINK

The last paragraph, after "...", is mine.

Posted by: Neil B on September 16, 2008 at 8:35 PM | PERMALINK

I saw another columnist refer to McCain as Hoover the other day. If you're not already reading Jon Talton, I highly recommend him:

Rogue Columnist

Posted by: Dylan on September 16, 2008 at 8:35 PM | PERMALINK

Regarding economics, Pelosi is about as dumb as they get, so what does she think she will find on probing Wall Street?

Posted by: Matt on September 16, 2008 at 8:44 PM | PERMALINK

Corporate socialism again! The US gov't bails out AIG for a mere 80 billion.

To think we can't give Universal healthcare to mere americans.

AIG. Too big to fail.

Are we supposed to now dance in the streets and declare the crisis over?

Just where is that 80 billion coming from???

Who's next?

GM? Ford? Halliburton (oops they fine... wars going on)

Posted by: Tom Nicholson on September 16, 2008 at 9:47 PM | PERMALINK

Watching Suzie Orman about investments on CNN Larry King. My brother in law follows her advice; his portfolio is down about forty percent. Here, he has about thirty years of saving using Orman advice. Hope your doing better.

Was tuned into hate radio, WIND, the day before the market took a dive, listening to the Laura Ingram show, at this time Laura was exclaiming that you better get your money out of the market. Laura knew something was going down. Imagine after all these months of hate radio against Obama this same day one of the hosts was actually standing up for Obama. Sheesh I almost drove off the road.

Really this guy, Harris, brought up a good point that about eighteen million Americans with a whole lot of republicans voted for Obama in the Primary giving endorsement that Obama is qualified to be president. You know the Obamacans what ever happened to them? They changed to Palincan’s, here, Palin is chosen, picked by McCain with little to no campaigning and to compare to Hillary, for me is one of the most showing decision making strategies of an old and tired mind. McCain has been in too many power dives.

Today Keith Olbermann points out that Palin lost ten points in some national pole. Of course the lies are true, and we have true lies, talk about confusion in the best political CNN team that Blitzer can offer is totally zoned out. Big Candy Crowley likely has a good swizzle stick collection with the rest of the first line Journalist at this point. It reminds me of those jokes Dean Martin used to do by reading the prophecies from the side of a swizzle stick.

I could remember Cavuto about six months ago touting about the economy is so good, and now in his money interviews Cavuto has a tendency to always suggest the borrower needs the most responsibility. This guy always shifting the blame to the public.

What is so funny Cavuto makes the argument that those that barrow money need to have serious responsibility; you know he is talking about Mr. or Mrs. America, or its open season on ignorant aliens that need homes. Than without an any slightest shift in expression totally dismiss billions of dollars in loans to big money managers needed after bungling deals. But that’s O.K. It’s insane.

McCain on a rant “We will never let America get into this situation again” McCain needs to get together in the Situation Room with Blitzer to remodel our economy.

I don’t follow economics and big companies, but all of a sudden Blitzer says this is big stuff? This company is in 130 countries? If it fails it will be terrible. Do they insure stuff related to Al Qaeda? Yep, likely this is Bush and Company, and then I could see they need a whole lot more than 85 billion in bail outs?


Posted by: Megalomania on September 16, 2008 at 10:00 PM | PERMALINK

News Flash:

Gov. Rick Perry is no longer governor of the state of Texas.

As soon as President Bush declared a state of emergency along the Texas Gulf Coast during Hurricane Ike, Gov. Rick Perry was replaced as governor of Texas...by George W. Bush.

What !?!?!?!

Two years ago, the Republican-controlled Congress passed a law stripping all governors, essentially, of their governorship, and authority over their state, in case the person in the White House (currently Bush) declares a state of emergency in their state.

So, the Texas National Guard units (and all other local, state, federal and private security forces along the Texas coast), responding to Hurricane Ike, have been federalized and are under control of DHS's Chertoff.

When this anti-states rights/anti-U.S. Constitution law was being considered two years ago, all fifty state governors, Republicans and Democrats, protested (in a letter), but to no avail. The law passed. Governors lose authority over their state in cases of emergencies, as declared and defined, by whoever's in the White House.

But why did BushCo demand that their Republican/conservative confederates in Congress pass this FASCIST law? Because Gov. Palin of Louisiana, during Hurricane Katrina, refused to turn over control of her state's security, her state's national guard units, to BushCo. Repeatedly refused. Even when being smeared and pressured relentlessly...she refused...as any governor would. So, BushCo got this law passed.

And now, Gov. Rick Perry has no say at all over Texas' soil and airspace. (DHS Chertoff denies reporters the right to overfly stricken Texas coastal areas in helicopters, photographing and reporting on the damage done and the rescue efforts underway...why?). Gov. Perry was stripped of his authority over the Texas National Guard INSIDE the state of Texas. That's why he stumbled and mumbled at his press conference the other day. He's a figurehead. He has no authority. Until the state of emergency is lifted he basically is not the Texas governor...Bush is...again.

And with this law in place, nothing can stop this from happening again. State of emergency declared. Governor stripped of authority. The White House assumes authority. In any state. Or maybe even in all fifty states if a national state of emergency is declared, which would make the President, whomever, the governor of all fifty states, with all governors being stripped of their authority.

(Which is probably what Cheney and Addington had in mind. Now all they need is another 9/11-like attack to implement their plan).

Posted by: The Oracle on September 16, 2008 at 10:35 PM | PERMALINK

Corporate socialism again! The US gov't bails out AIG for a mere 80 billion.

WTF?

And the Chrysler bailout required an Act of Congress?

Print more money!!!!!!

Wheeeeee!!!!

Whatever happened to the deficit hawks and free market fundamentalists?

Maybe they're out there with Big Foot and Elvis.

And McCain crows about being "fundamentally a deregulator."

You want real deregulation?

Let these fucking crapshooters fail and maybe the few remaining survivors will manage risk a bit more responsibly.

Oh, wait, Joe Sixpack's retirement investments might be negatively impacted. So bailing out the powers that be is really about compassion for the little guy dontcha know?

What about some bailout for the little guy?

No can do Joe. You aren't a power broker -- just a low totem pole bearer of risk. In Republican land, individual investors, middle class taxpayers and consumers don't have any real voice. We'll take your money, but that's it. Fuck regulation. Caveat emptor is the only rule you need. Of course, that rule doesn't apply to us. We live by the "Golden Rule." We get our mulligans at your expense.

Authority for us, accountability for you.

Private profit, public risk.

That's the McCain/Bush/Plutocrat formula for national greatness.

If you cheer hard enough for our side we might let you sniff our jockstraps.

Posted by: lobbygow on September 16, 2008 at 10:35 PM | PERMALINK

John McCain is showing signs of senility. He seems dazed and confused. Lying when the truth would serve him much better.

Posted by: TNB on September 16, 2008 at 10:53 PM | PERMALINK

Financial News in Manhattan:

This whole situation is nightmare. Half of my friends in the Manhattan are going to be out of work by the end of the week. These are guys and gals in their 20s. A girl that lives on the fourth floor of my building who works for AIG said she's expecting to be let go before the end of the week. This pretty much hits everybody living in Manhattan, the job market will be terrible for quite some time - in one of the most expensive places to live. Expect more bad news. There was mass hysteria with Investors and Clients pulling funds from every angle. Expect more big names to report major losses when the dusts settles from this week...

I read press conferences put out by CEO Ken Lewis of BofA saying he thinks the market will begin to rebound come Q3 2009. That's a long time for anyone to weather a storm.

Posted by: on September 16, 2008 at 11:09 PM | PERMALINK

And one of my buddies on the 5th floor of my building just dropped by as I posted the last comment, he too will be out of work by the end of the week.

I expect heavy drinking in Manhattan this weekend. Viva la stress release.

Posted by: Mick on September 16, 2008 at 11:13 PM | PERMALINK

Anchorage Daily News is reporting that the "Alaska Permanent Fund fell $775 million in value during Monday's stock".

I'm not sure it the numbers are that high, the article doesn't repeat that total, but some of the stocks the Fund was invested in include Merrill Lynch, and AIG.

Probably losses are higher today.

Check out the adn.com website for the details.


Posted by: tomj on September 16, 2008 at 11:29 PM | PERMALINK

And more problems stem from institutional losses over the weekend.

http://www.cnbc.com/id/26746923

This piece of news is big and sooner than expected. Not good America. When I think about all this, then think about McCain saying he knows how to fix Wall St. problems, my questions is to Mr McCain - When are you going to fix it? When Manhattan implodes? Galveston may have been on the front of Hurricane Ike, but NYC is on the front of Hurricane American financial meltdown.

Posted by: Mick on September 16, 2008 at 11:31 PM | PERMALINK

And one of my buddies on the 5th floor of my building just dropped by as I posted the last comment, he too will be out of work by the end of the week.

My wife and every single one of her close circle of friends who are mid-level associates in Manhattan law firms were essentially let go in the last few weeks.

Crain's is reporting that this is due in large part to the Wall Street meltdown:

Lawyers lose jobs, Wall Street to blame

My billable days as a consultant have been half of last year's. I can't really be "laid off" since I'm only paid if I'm billable, but the small firm I work for is barely subsisting.

We're taking a 60% cut in overall income this year, and we've got an 11 month old. Fortunately, we've saved a pretty good nest egg because our jobs were very high paying. The bad news is, I don't see a recovery anytime soon. We are "rich" compared to the majority of Americans. We can sell our condo even in a down market and move back down south if we have to. We have student loan debt, but it is manageable. My small firm, god bless them, does provide limited health care coverage.

Most people don't have anywhere near those options.

The fucking fundamentals are not strong Mr. McCain.

You're smoking moose poop.

Posted by: lobbygow on September 16, 2008 at 11:46 PM | PERMALINK

What is happening here? Shoddy lending practices taking down 3/5's of the nations storied lending institutions, and our 'great' presi-Dunce calls it an 'adjustment'!!? During the biggest financial meltdown since the Great Depression??!! He truly is the idiot son of an asshole. No doubt.

Lehman Bros., Meryl Lynch, AIG, Bear Sterns, Fannie Mae and Freddie Mac, numerous banks in areas across the country... all failing and/or failed. And the 'free market conservatives' are ready at the helm with some "socialized corporatism", (at tax payers expense, of course.) Meanwhile, retard Sara Palin says "the economy needs some shak'in up and some fix'in". Thanks for the words of wisdom, Bonehead Barbie. The 'fundamentals of our economy are strong' says Mr. J. McSame. Right. He says this as the economy sinks into the toilet bowl, thanks in major part to Phil Gramm, who undid the depression era Glass-Steagall Act which, among other things, prohibited a bank holding company from owning other financial companies, and prohibited commercial and investment bank consolidation. Many economists have criticized the repeal of Glass-Steagall as contributing to the 2007 subprime mortgage financial crisis. Thanks Senator Gramm. When does this info get out to the public?? C'mon ,media, for God's sake. Why do you hate America so much that you are willing to let in sink into the dustbin of history to protect McLame, bu$h, and his former chief adviser on economics? This is beyond partisan, this is the economic viability of our future.

Posted by: OptiMysticalCynic on September 16, 2008 at 11:49 PM | PERMALINK

So the Fed bought out AIG when Treasury refused to. This is very entertaining. I see it as a resumption of the generations-old war between entrenched WASP money and (once) upstart Jewish money for control of Wall Street.

Bear Stearns: Nice WASP name, gets to survive. Lehman: Jewish money, finally ethnically cleansed after so many decades.

Paulson, nice WASP boy at Treasury wanted to let AIG (till recently Greenberg's baby) die. But Bernanke (successor to Greenspan) stepped in and bought them with taxpayer money, preserving some Jewish economic power before all the clout winds up in Charlotte (i.e. Klan territory). I guess Yale alumni will still call a few shots. It was looking like former Duke lacrosse players would get to treat the whole country like one of their hired strippers but New York still gets to share.

Oh, by the way, McCain has the presidential election sewed up. This latest handout helps since, in the short term, the economy will stay afloat and the disinfotainment media will celebrate a little reprieve for Manhattan. In the long run we're going Argentina but the aristocracy has its offshore accounts ready.

Face it, the U.S. is an American country in the worst sense. Death squads, gated communities with private guards, the crap work done by destitute brown people in shantytowns. Even protesters get beaten by thugs in supposedly progressive Minnesota. Fascism couldn't happen to a more deserving bunch of selfish, stupid, lazy idiots. They love it. Looks exciting on t.v.

In other news, the Democrats are looking forward to the university jobs and small-scale think tanks that are their reward for throwing another election to the big boys. But, not to fret. Congress and the President have no more power than a student council. As we can see, big capital takes care of itself and fights its own generations-long battles and only allows us to sneer from the sidelines.

And, in the latest sellout suckup to the Right, Obama appears to favor a draft. Yea, team! Way to go!

This stupid, ugly country—the biggest enemy of world peace and prosperity—so deserves McCain-Palin. Why even vote.

LDE

Posted by: Lindsey Eck on September 16, 2008 at 11:54 PM | PERMALINK

So the Fed bought out AIG when Treasury refused to. This is very entertaining. I see it as a resumption of the generations-old war between entrenched WASP money and (once) upstart Jewish money for control of Wall Street.

Bear Stearns: Nice WASP name, gets to survive. Lehman: Jewish money, finally ethnically cleansed after so many decades.

Paulson, nice WASP boy at Treasury wanted to let AIG (till recently Greenberg's baby) die. But Bernanke (successor to Greenspan) stepped in and bought them with taxpayer money, preserving some Jewish economic power before all the clout winds up in Charlotte (i.e. Klan territory). I guess Yale alumni will still call a few shots. It was looking like former Duke lacrosse players would get to treat the whole country like one of their hired strippers but New York still gets to share.

Oh, by the way, McCain has the presidential election sewed up. This latest handout helps since, in the short term, the economy will stay afloat and the disinfotainment media will celebrate a little reprieve for Manhattan. In the long run we're going Argentina but the aristocracy has its offshore accounts ready.

Face it, the U.S. is an American country in the worst sense. Death squads, gated communities with private guards, the crap work done by destitute brown people in shantytowns. Even protesters get beaten by thugs in supposedly progressive Minnesota. Fascism couldn't happen to a more deserving bunch of selfish, stupid, lazy idiots. They love it. Looks exciting on t.v.

In other news, the Democrats are looking forward to the university jobs and small-scale think tanks that are their reward for throwing another election to the big boys. But, not to fret. Congress and the President have no more power than a student council. As we can see, big capital takes care of itself and fights its own generations-long battles and only allows us to sneer from the sidelines.

And, in the latest sellout suckup to the Right, Obama appears to favor a draft. Yea, team! Way to go!

This stupid, ugly country—the biggest enemy of world peace and prosperity—so deserves McCain-Palin. Why even vote.

LDE

Posted by: Lindsey Eck on September 16, 2008 at 11:56 PM | PERMALINK

Is the mainstream media going to finally take the sleazy campaign that John McCain is running to task? This is a complete disgrace that we are witnessing. Then he hires a complete incompetent in Sarah "I can see Russia from my house" Palin,whose blatant lies stick out like sore thumbs. I am an Independent,however,I hope the McCain/Palin scumbag machine gets swamped in November.

Posted by: dave walker on September 17, 2008 at 12:29 AM | PERMALINK

OT. There have been reports of coverup of Hurricane Ike deaths and blocked access of Galveston etc. A partial quote from a unverfified source:

" I kid you not when I say that he told me they saw AT LEAST 1500 bodies in trees scattered about Galveston. They also saw a lot in various ditches and marshes, esp. on the north side of East Galv. Bay, east side of Trinity Bay, and in the marshes between I-45 and Seabrook/Clear Lake/Deer Park.

It explains why they're not letting the media anywhere close to the Island except in limited sectors nd we're not hearing anything from or about the people who survived and those who stayed behind. It's like 20,000 people never existed....where are they? Where'd they go? What are their names? Nothing....

Same thing in Orange county. "

"GALVESTON - Mayor Lyda Ann Thomas on Monday ordered all city employees not to talk to news reporters. She did not say when that order would be lifted.

Thomas and City Manager Steve LeBlanc will be the only officials allowed to talk to reporters. City spokeswoman Mary Jo Naschke vehemently denied the city was trying to clamp down on coverage.
......

Reporters would be allowed on the island only if they had proper identification, Thomas said. She didn't clarify what that meant.
Reporters were also forbidden from visiting areas on the far West End, Thomas said. She did not explain why."

Another Bush covert operation?

Posted by: steelhead on September 17, 2008 at 12:41 AM | PERMALINK

Will someone please show CNN the video of McCain's comment regarding 100 years in Iraq, please? Then show them the DNC ad responding to that comment. CNN continuously gets it wrong when they say Obama's ad was misleading. The guy in the audience said that Bush talked about staying in Iraq for 50 years. McCain responds with maybe 100. Whatever it takes. The ad merely repeats what the guy in the audience said, and gives McCain's response. It doesn't try to say that McCain wants soldiers there for a 100 year war. It just repeats his actual words and the words of the audience member, and shows what has happened in Iraq up until that time.

Beyond that, it's absurd, obviously, to even consider keeping our troops there for 100 years, even if no one fires a single shot at them. Why would any sane person want to keep troops in Iraq in war or peace for 100 years? For what reason? By what right? For what earthly good? And at what price? Has McCain considered the cost even if no one is killed? 100 years of troops in Iraq? As if the Iraqi people would stand for that. As if we have trillions of dollars to spare for that.

Again, someone with some clout needs to set CNN straight.

Posted by: Cuchulain on September 17, 2008 at 12:45 AM | PERMALINK

I will follow Osama Bin Laden to the gates of hell. Right now, Iraq is the only place that fits that description, but Afghanistan is getting there.

Posted by: John McCain on September 17, 2008 at 1:43 AM | PERMALINK

The chief "lie" that Obama is supposed to have told is that McCain would support "100 years of war" in Iraq. This is supposed to be a "lie" because McCain said that meant that he keep them there if the troops weren't being killed or injured. Two things. First, he specifically ruled out a Korea-type stationing role. Second, he did't say why we'd be there if weren't in actual combat. His position didn't make sense and the media never bothered to press him to elaborate. He ruled out a simple garrison role and would pull them out at some time in the future if they started to take casualties. His two statements are in contradiction and nonsensical. He doesn't want to pull them out now because the situation is so bad that we ARE taking casualties and McCain's pull-out scenario is grounded in a contradiction. Since he's said that he's fine with having them in Iraq for 100 years, where is the "lie" from Obama for pointing that out? McCain's clarification has clarified nothing.

Posted by: Jeffrey Davis on September 17, 2008 at 8:02 AM | PERMALINK

"DHS Chertoff denies reporters the right to overfly stricken Texas coastal areas in helicopters, photographing and reporting on the damage done and the rescue efforts underway...why?"

Do you really want a bunch of news helicopters flying around with rescue aircraft? It's a simple matter of air traffic control. And it's only limited to an altitude of 2,000 feet. Their zoom lenses may not be powerful enough to identify dead bodies, but they can get a pretty good view of the damage.

Posted by: Grupetti on September 17, 2008 at 10:01 AM | PERMALINK

For grinning cat: I've heard reports of the locals taking out the fanatics, as well, and that is a good thing. The point is, though, that Bu$h is disconnected from their support due to his propping up Mushy. Add to that the inevitable burst of national pride to follow when dictators are ousted and we will see the current government be very sensitive to any incursion on its sovereignty, especially by foreigners, no matter how well-intentioned.

Add to that the more frequent use of sledgehammer airstrikes, and we are losing the hearts and minds battle. It's easier to hate machines than people you see.

On AIG: the only reason they were bailed out is because of their role very similar to Fannie and Freddie. It's why Jeb's Lehman Brothers was let go. AIG was the backstop for a whole lot of investments. However, it is not at all unreasonable to demand the return of any bonuses, etc., based on performance because at the end of the day the business wasn't run well. Likewise the deferred payments and stock options. If the CEO pukes feel the pain like the LB (~ 25,000), HP (24,000+), and connected closures-as-the-$$$-dries-up layoffs hit the bricks, maybe they'll be a little smarter.

Obviously Carly wasn't. Good FDL headline, as well as a good example of the Peter principle.

Posted by: rugger0 on September 17, 2008 at 12:52 PM | PERMALINK

"Bush had a benign lesion removed. The one, lone benign part of him, and he had it removed."

Posted by: Anon on September 16, 2008
--------------

Heh. Good one.
Say, does he have barnacles too?

Posted by: MarkH on September 17, 2008 at 4:31 PM | PERMALINK




 

 

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