(Crossposted at the European Tribune and Tilting At Helicopters)
Let me put this bluntly: A good way to think of Larry Summers is to take Paul Krugman, up the arrogance tenfold and deduct 99% of the intelligence. He should never be allowed within a thousand yards of the Federal Reserve.
Felix Salmon hits most of the high points here – his destruction of Glass-Steagal, his sandbagging of Brooksley Born’s efforts to regulate derivatives at the CFTC, his all-world incompetence in screwing the finances of Harvard when he was its president, his protection of scumbags on the Harvard faculty, his half-assed scholarship and accompanying sexism regarding women in the hard sciences, and — most of all — his utter refusal to admit that any of this might have been a mistake on his part.
I’ll add a bit. Let’s journey back.
What do you think of something like this? The first quote isn't exact on McCain, but he's said plenty to that effect, so I'm sure one could be tracked down:
(I'm Barack Obama, blahblahblah)
(video clip) MCCAIN: "It's not the job of government to bail out reckless homebuyers."
Were you reckless when the mortgage sharks came after you?
John McCain is out of touch. But what should we expect when his campaign is run by the very people who created the housing crash? (pictures of various lobbyists/staffers tied to mortgage industry) And, after all, he'd still have six other houses to choose from if he lost one.
Or is it seven? Or eight?
(audio clip) MCCAIN: "I'll have my staff get back to you on that."
We can't have four more years of the same.
What say ye?
GM has been a pathetic company for a few years now. It can't meet its financial obligations; it can't innovate its way out of a paper bag; and, news flash
, nobody gives a shit about OnStarTM when gas is $3.00/gallon
"Oh, boy, my larger-than-Rosie-O'Donnell-at-a-fucking-pie-eating-contest truck has a gadget that can save my life, but the cost of filling the tank means I won't be able to feed my kids. What a deal!"
Their employee discount worked well for a while -- and, by "well," I simply mean it helped them move inventory -- but the company is losing money. It lost a billion dollars in one fucking quarter. And could we, please, stop pretending that there is some mystery behind GM's failure to do, you know, anything? The Japanese companies are crippling the American companies for a reason: They're making better cars.
Someone had better call the Bomb Squad. George Orwell's head is about to explode. In his speech today, Bush compared the terrorists to Hitler, Stalin, and Pol Pot -- a comparison few would disagree with, which makes me wonder why he'd bother with it -- by issuing the quote to end all quotes
"[E]vil men obsessed with ambition and unburdened by conscience must be taken very seriously and we must stop them before their crimes can multiply."
Now since it's Veterans' Day, and my grandfather is an incredibly liberal veteran of WWII, I'd like to point out a few things for our idiotic friends in the media. Particularly you, Wolf Blitzer, for allowing Dan Bartlett to go on television to smear John Kerry and the Dems without challenge -- you half-bearded, whining little prick.
Chancellor of the Exchequor Gordon Brown, that son of a bitch, is going to leave me picking my intellectual teeth up off the ground
. I've criticized his deficit spending in recent months, citing it as unnecessary, since the Bank of England (BoE) is plenty capable of dealing with stimulus through monetary policy.
(All charts on the UK economy can be found at the BBC's site, here.)
But, right under our noses, Labour and the Bank of England may have pulled off what we in America failed to do: Stop the housing bubble by raising interest rates, without killing the economy.