Shade-Tree Rocket Science
The workings of the economy make brain surgery look as simple as rocket science. I’m not particularly happy about becoming a partner in the insurance business and underwriting other people’s bad investments. I don’t like bailouts. I didn’t like the big airline bailout after 9/11, I didn’t like the big immigrant … excuse me, I mean illegal alien, sorry, I meant to say document-challenged American … bailout bid and I don’t like this one. I think people should take responsibility for their own mistakes. But I’ve got a house and a mortgage and a job. I’d like to keep all three and see my neighbors do the same. So what to do? Here’s a roundup of shade-tree mechanics who know what they are talking about or at least pretend that they do, and some news:
Peter Goodman at NYT: A $700 Billion Rescue Plan for Wall Street, But Will It Work?
Sebastian Mallaby at WSJ: A Bad Bank Pla, pushed too fast, marketed under false pretences, and unnecessary.
Michael Goodwin, NYDN: America’s Stress Test. Bailed-out pres. candidates fail.
Lawrence B. Lindsey, Weekly Standard: High Anxiety. We went from playing inflation-era Monoploy to Depression-era Monopoly in mid-game.
Paul Krugman, NYT: No Deal
WSJ Sunday lookback: Shock Forced Paulson’s Hand.
WSJ: Lobbyists scramble to sway deal.
Boston Herald: Pack of Thieves. Little guys fear they’ll be left holding the bag while fat cats scurry away with millions.
For comic relief, Larisa Alexandrovna at HuffPo: Welcome to the Final Stages of the Coup. Hey, hasn’t she been hauled off to the hated Crusader gulag at Guantanamo yet? The Cheney-Bushitlerites are slacking.
Meanwhile,
Malkin: Mother of all Bailouts. The death of fiscal conservatism.
David Frum: Aye to the bailout and a shoutout to Barney Frank.
Gateway: I’ll see Bush’s $700 billion bailout and raise you Obama’s $850 global poverty tax.
Surber: Buy. Buffett signals crisis over.
In closing, Dr. Sanity’s Carnival. When the going gets crazy, the insane looks normal.
With thanks to Memeorandum and RCP on the roundup.
Topics: ancient mysteries, money, pols
Posted by Jules Crittenden at 10:49 am on Sunday, September 21, 2008
One Response to “Shade-Tree Rocket Science”
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September 21st, 2008 at 11:11 pm
Global poverty tax? Holy crap. I sure hope that comes up in the debates. That will go down with the American public about as well as Kerry’s “global test” did. No - worse.