Info Gluttony

Stay Tuned!

Posted in It's the Economy, politics by echan on September 26, 2008

These excerpts are from the current NYT top headline about the bailout impasse (there’s something about the second passage that sounds like amazing theatre):

“If money isn’t loosened up, this sucker could go down,” President Bush declared Thursday as he watched the $700 billion bailout package fall apart before his eyes, according to one person in the room.


In the Roosevelt Room after the session, the Treasury secretary, Henry M. Paulson Jr., literally bent down on one knee as he pleaded with Nancy Pelosi, the House Speaker, not to “blow it up” by withdrawing her party’s support for the package over what Ms. Pelosi derided as a Republican betrayal.

“I didn’t know you were Catholic,” Ms. Pelosi said, a wry reference to Mr. Paulson’s kneeling, according to someone who observed the exchange. She went on: “It’s not me blowing this up, it’s the Republicans.”

Mr. Paulson sighed. “I know. I know.”


Well, if the debate goes forward tomorrow, Jim Lehrer confirms, it won’t be limited to foreign policy:

“I am not restrained from asking questions about the financial crisis,” Mr. Lehrer said in an e-mail message. “Stay tuned!”


Finally, if you haven’t watched the Couric-Palin interview footage yet, the last part just kills me (I hope that reenergizes Couric’s journalistic career):

Couric: You’ve said, quote, “John McCain will reform the way Wall Street does business.” Other than supporting stricter regulations of Fannie Mae and Freddie Mac two years ago, can you give us any more example of his leading the charge for more oversight?

Palin: I think that the example that you just cited, with his warnings two years ago about Fannie and Freddie – that, that’s paramount. That’s more than a heck of a lot of other senators and representatives did for us.

Couric: But he’s been in Congress for 26 years. He’s been chairman of the powerful Commerce Committee. And he has almost always sided with less regulation, not more.

Palin: He’s also known as the maverick though, taking shots from his own party, and certainly taking shots from the other party. Trying to get people to understand what he’s been talking about – the need to reform government.

Couric: But can you give me any other concrete examples? Because I know you’ve said Barack Obama is a lot of talk and no action. Can you give me any other examples in his 26 years of John McCain truly taking a stand on this?

Palin: I can give you examples of things that John McCain has done, that has shown his foresight, his pragmatism, and his leadership abilities. And that is what America needs today.

Couric: I’m just going to ask you one more time – not to belabor the point. Specific examples in his 26 years of pushing for more regulation.

Palin: I’ll try to find you some and I’ll bring them to you.


If you got this far in the post, then you deserve a bonus.  From the government takeover of WaMu coverage, we learn that WaMu’s new (now former?) CEO is walking away with nearly $20 million (signing bonus + severance), “Mr. Fishman, who has been on the job for less than three weeks, is eligible for $11.6 million in cash severance and will get to keep his $7.5 million signing bonus.”  Now, that’s executive compensation.


2 Responses

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  1. ToastyKen said, on September 26, 2008 at 8:38 am

    I not only got that far in your post; I had already watched both halves of the interview. And watching Palin get interviewed makes me want to punch myself.

    And yeah, hurray for Katie Couric’s balls! Although, I think hiding Palin from the media might have had a counterproductive effective pissing off the media so they go extra hard on her.

  2. badxmaru said, on October 1, 2008 at 3:49 pm

    corporate greed is the entitlement that keeps MBA’s waking up in the morning to sell their souls.

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