I still think we could use about another 20 or 30 Barney Franks.

After asking for "an American Day," the strange CNN personality added, "Is there a Jewish ethnic holiday? Is there one? No. Okay.... How about an Asian ethnic holiday? Is there one? You know, St. Jing-Tao-Wow?"

Um, Yom Kippur? Passover? Hannukah? Chinese/Lunar New Year?

This is getting into racist territory....

OMG. I want a partisan hack license. So I can say anything I want to.

Barney is priceless!

Great line by Frank, but I'm with Atrios -- Timmeh should go. He's more concerned with the well-being of his banker buddies than the country.

RE Obama's signature on the UN declaration decriminalizing homosexuality: Let the de-Bushification continue. It's like a cleansing rain.

AIG has shown us all what Wealthcare is.

We have created Wealthcare, taking care of the wealth of the few at the expense of the many.

Don't call it bail outs, TARP, whatever, just what it is, Wealthcare.

But then again, haven't we always had a government for the rich and nothing but the rich so help us god?

Timmeh is not only incompetent, but dishonest:
http://firedoglake.com/2009/03/17/treasury-attempts-to-blame-dodd-for-aig-bonuses/

Obama is going down in flames attached to the good ship Neo-Lib. He should have fired Geithener and Summers last week.

Good for Frank. And I vote for Timmeh. Anything Boner is for can't be the way to go. Plus, I love his blog but Atrios is fucking out to lunch with his Nationalization (as is Krugman) crap. I guess its the difference between blogging and government. The only reason Nationalization was raised by some Republicans was to try to bait the administration. The unintended consequences are astronomical. Its foolish. Better to take a incremental approach and reign in the banking system with smarter regulation.

So Lou Dobbs is dissin' the blessed St. Patrick, then?

How about a cage-match between Dobbs and Maureen Dowd? Or Chris Matthews? Or Bill O'Reilly or Sean Hannity? This could be fun. Pass the popcorn.

scott f. you might like this article;

http://www.counterpunch.com/hudson02232009.html

Lou Dobbs must be feeling his ratings slip on the Moron-O-Meter so he's ramping up his bitterness to get back some of the market share he's been losing to Glenn Beck and Rush Limbaugh lately.

Too bad that his patter is not only bitter but totally lame as well.

How sweet, President Separate-But-Equal is going to sign a U.N. declaration that doesn't actually DO anything. Why, while he's busy kissing the asses of those nice Religious Right lobbyists during their White House visit, he might even remember ask them to pretty please stop funding the persecution and murder of gay men in Uganda by their affiliate "churches." What's next, a mystery pass-the-buck Pentagon study group on the potential worst-case-scenario surrounding the repeal of Don't Ask? Oh, wait...

Color me wildly unimpressed.

After asking for "an American Day," the strange CNN personality added, "Is there a Jewish ethnic holiday? Is there one? No. Okay.... How about an Asian ethnic holiday? Is there one? You know, St. Jing-Tao-Wow?"

The answer to all of those questions is "Yes, there is," and if advertisers can figure out a way to use those holidays to sell beer, they'll become as popular as St. Patrick's Day.

I'm with you on Franks. If he'd agree to date me, I think I'd turn gay.

But I think Geithner was the wrong choice to begin with. A Wall-Street insider? Obama should have replaced Paulson too. Just more foxes guarding the henhouse.

Then again, I think that our financial system is so corrupt, I would have picked Ted Kaczinsky to chair the Fed.

Lou Dobbs is not well, last time I checked the 4th and Thanksgiving were pure Americana. While Memorial Day and Labor Day celebrate the very people who sacrifice(d) to make America great.

Does he really want a day called "American Day".

How he keeps his job with very borderline racist remarks is beyond me.

Christopher Hill, President Obama's choice to be the next U.S. ambassador to Iraq got a boost yesterday with an endorsement from Sen. Richard Lugar (R) of Indiana.

my problem is, it's gotten to the point that if i hear a republican is endorsing, i figure it's probably a bad idea.

I am all for adding another dozen national holidays even if it means throwing a bone to people like Dobbs with an "america day".

-- My guess is at this point Geithner would be relieved to be fired...

But then the next natural question is to be replaced by whom? Krugman? Yeah, that's likely.

Hmmm, who knows the details of how we got where we are and can get us through the technical and political issues to the shiny new system at some point in the future?

Stiglitz? Krugman? Surely they would be making clear decisions and choices that we could all agree with since the options are so clear and clean, right?

"The Congressional Research Service believes it's likely unconstitutional for state legislatures to override state governors in accepting federal stimulus aid."

Well, there goes Sanford's LOOPHOLE ! So, if I am correct, take it all, or take NONE of it. As some congressman said " This aint no Chinese Menu", or something like that.

Lou Dobbs frightens me.

The upcoming Cinco de Mayo should make his hair turn orange. Oh, wait!

He does have a point. Maybe we need more ethnic holidays and I think St. Jing-Tao-Wow is a dandy one. I understand he was very tolerant of immigrants.

Lou Dobbs is so stupid it hurts.

Anyone notice the change in the Ashley weight loss ad? There used to be 2 pictures, a before and after, of course. Now there is only one picture, which is, one assumes, the after. Not so curiously, to me, that picture used to be the before. I'm thinking I wasn't the only one who thought she looked better with the weight. My curiosity piqued and I clicked the link. I don't know what was there before, but now there is a before and after set of photos but you can' tell who the person is. The heads are cut off. Hilarious.

After asking for "an American Day,"

I'm all for this. Maybe we could have it in the summer, you know, when the weather's nice and we could celebrate in style with parades, fireworks and barbeques. Maybe sometime in the early summer, like around, oh, July 4th? Does that work for everyone?

As long as tax dollars are being mis-managed like this I think we should do what we can to hold them back. I am changing my W-4 so that I get the least amount of withholdings for now. I'll worry about my taxes next year. For now, I think it will make me feel like I have a little control over them.

Listening to Lou Dobbs is like a nostalgia tour of bigotry. Here I thought that anti-Irish nativism was at least 80 or 90 years out of date!

I'm looking forward to the next show, when he bashes the Quakers.

The upcoming Cinco de Mayo should make his hair turn orange. Oh, wait!

Why do you think he's starting now? This way, when he goes off on his Cinco de Mayo rants, he has cover for claiming he's not racist. After all, he complained about St. Patrick's Day, too, so clearly he's upset about all ethnic holidays, not just the ones for brown people.

Either that or he forgot to wear green yesterday and got pinched one too many times by his co-workers.

NOTORIOUS AIG: Not So Fast You Greedy Bastards !

How about Lou Dobbs Day? Who could be more quintessentially American?

Um, Yom Kippur? Passover? Hannukah? Chinese/Lunar New Year?

Are any of those national holidays, though? Chinese New Year might have some reach beyond the immediate Chinese population, but it's not as though people of all backgrounds across the country take the occasion to wear special clothing and celebrate.

Regardless of whether you agree with Dobbs, at least he's consistent.

This is getting into racist territory....

How so? Aren't Irish Americans white? There was debate about this once, and a belief during the 19th century that Irish people were inferior, but now most people consider those of Irish decent to be both white and no less inferior than anyone else. Are you saying that as a white man, Dobbs can be racist against other white people?

Too many people in Obama's economic team are too close -- ideologically -- to the folks who helped cause this catastrophe. Why won't anybody actually point this out? As far as I can tell, Geithner and Bernacke and Summers are foisting the same basic plan as Paulson and Bush, which is : bail out the folks in the financial sector that have caused all the other work sectors (construction, agriculture & so on) to crash and burn. Further, oversight over what exactly is happening to our money is still far too limited.

This is not right. The Democrats have traditionally been the party that actually comes up with workable plans for the economy. The Democrats have also been the party of the people for a long while now. But the way the economic fiasco is being handled, a good case can be made that Obama is willfully allowing his people to carry over the Bush policy of screwing over the little guy so that the rich don't get hurt.

The last 40 years or so has seen a vastly widening gulf between representation of what actual people want and what Congress -- our putative reps -- votes for. Even in a nation as politically supine & lazy as ours, this can only go on so long.

I'm not heartsick over the bonuses -- though I find them disgusting -- I'm heartsick over how the economy is being handled by President Obama and his crack team of advisers, many of whom were part of the problem.

Pretty soon I won't have anybody left to vote for at all.

Zhak, my feelings also. I'm saddened that Obama's team is just more of the same people looking out for the Masters of the Universe. On another note, apparently, Chris Dodd IS to blame for the AIG bonuses. He's admitted it.

Oh Dana.

Timmeh is a craven. He fucked up and is allowing Obama to take his heat. If he had any integrity he would admit he screwed up, didn't do his due diligence, apologize and tender his resignation. This, by the way, would also mark a huge departure from Bush and his people who couln't even mouth the words "I'm sorry.".

* The Congressional Research Service believes it's likely unconstitutional for state legislatures to override state governors in accepting federal stimulus aid.

Whoa, really? It seems to me that this deserves a post on its own. You've mentioned several times that Sanford was counting on actually getting the money. What does this mean for that whole rigamarole?

I occasionally am late in switching off CNN at 7 (I like to hear Cafferty) and it runs into Lou Dobbs. I can scarcely believe what I sometimes hear. In his own warped way, this guy is just as pernicious as Rush yet he somehow remains below the radar. He may be trying to capture the Beck-bats and is just being cynical, but he bears watching (as in keeping an eye on a problem).

According to Mr. Zelizer: "...even the party that traditionally advocates small government on the campaign trail opts for big government when it gets into power."

But I think the phrase "advocate small government" is a misnomer. For the Republican Party, at least since Reagan, small government has been a first principle (ask a Republican what the Party stands for, the universal first response will be "small government"... I've never really known exactly what it means, but that's what they all say).

Simply "advocating" a position makes the inverse behavior seem odd. But, acting the opposite of a first principle is, well.. unprincipled.

Anyone notice the change in the Ashley weight loss ad? ... you can' tell who the person is. The heads are cut off.
------

There's a quick way to lose five or ten pounds ...

Are any of those national holidays, though?

News flash--St. Patrick's Day ain't no national holiday...

@ grinningcat

http://www.counterpunch.com/hudson02232009.html

Great link. I've read this and a lot more Michael Hudson. He is a tough read, I always have to read them more than one time, but he has really helped me understand what is happening with our financial situation. CounterPunch is a lifeline in our house.

Thanks for sharing with us!!

--I am in the uncomfortable position of defending Geithner/Summers even as I also feel less than happy with their most recent statements and actions.

That said, I do believe that there was little choice to be made between appointing experts who are intimately familiar with the practical operations of the current system (as broken and fucked as it is), and perhaps a more ethically clean appointee who would have little practical knowledge or credibility within this system.

Yes, Obama inherited a mess. But also more significantly, he inherited a still very much alive (though fucked up) old system. He did not ride into a blasted out old order with everyone dead or on the run. He did not come in three years into the debacle as Roosevelt did either. The beast is badly wounded but very much alive and it must be dealt with shrewdly.

I believe that this administration will have to exploit, manipulate and wring every bit of advantage from the current system while setting up the transition to a new order. It is complex, difficult and itself fraught with political landmines many times tripped by the team he has put in place.

I believe that Geithner and Summers know that they had effing better ultimately be closer to successful than not. They are smart enough to know that if they had avoided accepting these jobs, that they would have no opportunity to clear their names given their deep involvement in the set up to all this. Though its fair to say that they carry the values that may have facilitated this situation, there is no reason to believe that they (particularly Geithner) are taking this punishment for the salary and prestige or to help some old buddies from the old world.

I think that it is wise to be suspicious and to challenge what is happening and decisions that are made. But don't believe for a minute, please, that firing one or both by itself would solve anything unless you know of a replacement willing to take this heat and that could for sure do better with this crappy mess.

I take small comfort from two realities: 1) Obama does not strike me as a fool and 2) his skin, the skin of Geithner and everyone else is totally on this -- the whole reputation of this administration sits on this -- I have to believe that if item 1 is true (that Obama is not a fool) that he and his team realize and hopefully will act to ultimately form and inact the right policy.

I am still willing to hope - albeit with my fingers crossed.

I think we have far too many Christian holidays. St Patricks, St Valentines, Easter, Christmas, Ash Wednesday - the point is that Dobbs has one filter and most of us have another. Pattys day is an excuse to get drunk. In that, it is far more like Thanksgiving, an excuse to overeat, or Christmas, an excuse to overbuy. Any holiday which can be turned into profit will be endorsed.

If there is one thing that has united us as a country since our founding, it is the belief that the next group coming into the United States was going to mess it up. Help us celebrate the first annual Saint Jing-Tao-Wow Day on Tuesday March 31st. The day will be an amazing celebration of ethnic and racial stereotypes and the pundits who help perpetuate them. You can read more at:

http://thatsrightnate.com/2009/03/18/help-us-celebrate-saint-jing-tao-wow/

Hey! Have some sympathy for the masters of the universe. How were they to know poor poeple would apply for home loans they couldn't afford. Now the former masters of the univerese have to pick up and carry on with their lives, despite having no idea where their next 7 figure bonus will come from.

Great quote by Barney Frank. But I keep thinking of Col. Dax (Kirk Douglas) in Kubrick's "Paths of Glory" (paraphrased): "it's gone too far, someone has to pay". Sorry Tim, but I fear you screwed the pooch once too often.

You know, I'm thinking it's almost time for the Fed Govt. to just outlaw "bonuses" on an emergency basis.

Nobody gets more than their wage/salary for the next 9 months, til the end of the year. ALL bonuses are null and void.

And then going forward, employers can only grant "bonuses" based on demonstrable improvements to the bottom line.

Now, if these "bonuses" were really what would be called in the sales world "commissions" that's another matter. Then you could look to see just exactly what they were basing these commissions on, and perhaps argue that the bottom line was what mattered, etc.

I really think part of the problem here is the termination. Words do mean things, and "bonus" has connotations which are feeding the outrage in this case.

"After asking for "an American Day," the strange CNN personality added,

Uh, uh, wait. I know this one. Uh, Fourth of July? Whew. Got that one.

"Is there a Jewish ethnic holiday?"

OK, this is tougher. Fewer Jews, um, um, how about Chanukah (or however you spell it). Passover? Rosh Hahanah? Sorry, I'm not Jewish, but man, my co-workers got a couple of those off, I'm sure.

"How about an Asian ethnic holiday?

Well, it's probably because I live here in SF, but yeah, Chinese New Year is a pretty big deal. Parade DEFINITELy bigger than St. Paddy. Outshone only by the Gay Pride Parade, as parades go, and the Bay to Breakers which is pretty much a holiday of "Anything Goes."

Sheesh. What IS IT with this guy? We need MORE celebrations, not less.

"St. Jing-Tao-Wow Day?"

Do we all get free pot stickers? I'm all for it.

"You know, St. Jing-Tao-Wow?"

Shaq got in trouble not too long ago for similar comments...

The more the facts emerge about the meltdown of all the major investment houses and banks the more the nature of the credit defeult swap shell game becomes clear.

Companies like Goldman Sachs invested in toxic paper and rationalized it in part because they bought an insurance policy from AIG that was also based on investment into the same toxic paper.

AIG, the supposed backstop of risk, engaged in riskier investments than everyone else. Why? Because they thought they could pass the risk along to what, some unsuspecting Norwegian teacher's pension fund?

Calling this system the creation of "paper wealth" as Obama did earlier today is far, far too kind. It's really a game of "who's the last one caught holding the bag of poop."

So this is what our elite business schools teach America's supposedly finest business minds to do? America's B-schools should be truly ashamed of themselves. They have lost sight of the very definition of wealth.

Steve likes calling people "far right".

We still interestedly await his description of someone (anyone at all) as "far left".

Ben Bernanke's apparently started Quantitative Easing (QE) over at the Fed. This basically comes down to printing heaps'o dollars. We'll see how the rest of the world feels about this over the next couple of days (the dollar dropped over 2% today). This has never really been done before.

I am not impressed with the Tim Geithner results from propping up zombie banks with trillions of dollars. I think the Treasury/SEC/FDIC/Federal Court can let "capitalism" proceed without fear that Wall St will implode. I'd much rather see a normal process - bankruptcy - rather than trying to develop totally new public policy about government intervention in private companies during an economic crisis. (If you have to call it "nationalization" or "socialism", then I'll be happy to let you know that it happens millions of times each year to corporations and individuals, and we call it "capitalism.")

The answer to all of those questions is "Yes, there is," and if advertisers can figure out a way to use those holidays to sell beer, they'll become as popular as St. Patrick's Day.

Don't anyone tell Dobbs about Cinco de Mayo...

We still interestedly await his description of someone (anyone at all) as "far left".

There is no one "far left" with a prominent role in our public discourse, no matter what Rush tells you.

Jackass.

We still interestedly await his description of someone (anyone at all) as "far left".

Ron Paul

With all due respect to Barney Frank and the Obama Administration, Geithner is - to a large extent - part of the problem and really should be replaced with a genuinely more progressive/populist character like maybe Paul Krugman.
See http://www.dailykos.com/storyonly/2009/3/18/710167/-Lying-Or-IncompetentEither-Way,-Geithner-Needs-to-Be-Fired.

I'm thinking the All-American national holiday should be "Country Club Day." It will be a raucous celebration of all things WASP.

We'll get togged up in tennis and golf gear. The preferred picnic menu will be gin and tonics, poached salmon and petit fours. The parades will consist of lock-jawed, painfully thin matrons doing the Republican Rap as written by Dave Barry:

"I'm in the GOP and I know how to dance."
"I do the bunny hop in my lime green pants."

The holiday will always be held on a Wednesday, in order to minimize the participation of people who have to report to some sort of actual job. Ladies will tee off at 5am and clear the course by 9.

The great thing about Lou Dobbs and Bill O'Reilly -- and something we should never forget about them -- is that they prove owning a Harvard degree does not make you inherently smarter than the rest of us.

I'm all for extending the celebrations on Irish saints. Just use this calendar (http://www.namenerds.com/irish/feastday.html)

Lou Dobbs does not order Cinco de Mayo - Perhaps, only Dos de Mayo, as he is trying cut back his cholesterol levels.

However, interesting to see our new Trade Rep, Kirk, who is an ardent NAFTA supporter, have to deal with the latest dustup between Mexico and the US. The Mexican Government is imposing substantial tariffs on products coming from Democratic states because of our blocking incoming trucks from Mexico. So, undocumented workers from Mexico come to Oregon, harvest Christmas trees, send much of their income back home to Mexico, and their government wants to shut down the Oregon growers from shipping to Mexico. This will only protect the attempt to plant trees in Mexico. Good luck, Mr Kirk.