President Barack Obama now has the distinction of presiding over his own bear market.Well, here's a question: What other unprecedented economic crises have we faced in the first six weeks of a new presidency in the past 90 years? Um, none? Yes, there was the Great Depression - but that doesn't count, per Bloomberg's own analysis, because Bloomberg is looking only at how the market did the first six weeks of a new presidency. The Great Depression's market crashes happened at the end of October, and throughout November, of 1929, so Bloomberg doesn't count that crash. How convenient.
The Dow Jones Industrial Average has fallen 20 percent since Inauguration Day, the fastest drop under a newly elected president in at least 90 years, according to data compiled by Bloomberg.
It's pretty clear that the media is gunning for Obama. Like a veil lifted from their eyes, the election of a Democratic president suddenly gives Bloomberg and all the rest the opportunity to be openly critical of a president again. So they're going to do it, with gusto, regardless of whether the facts merit it. But blaming Obama for the economy he inherited, only six weeks into his presidency, when George Bush and his Republican economics spent eight years leading us into this terrible state of affairs, is really a new low in journalism, even by Washington standards.
Republicans rolled out their arguments against a "Truth Commission" to investigate Bush-era interrogation and detention issues at a Senate Judiciary Committee hearing today. They're pretty predictable.
[...] Sen. John Cornyn insisted Congress has already investigated all these allegations and a commission would be "an indictment of congressional oversight responsibilities." Yes, Sen. Cornyn, it would be.
Rivkin is an interesting figure: He's never met a Bush power grab or anti-terror policy he couldn't defend. [...]
So according to Rivkin, other countries can't prosecute such abuses, only we can. But we shouldn't. Got it.
Two-thirds of the American people want to see some kind of investigation (a plurality prefer a criminal probe to a mere fact-finding commission). The Democrats can't get away with doing nothing after this lawless eight years. They can't let stand Bush officials' claims to be above the law. That conception of the absolute power of the presidency to violate human rights and break the law was rejected last November. I think Leahy is looking to start with what he can get. We'll see how far this crusade goes.
I wish I could tell you I was kidding about this one:- but Brooks and Dowd are debating Michelle's sculpted biceps.
When will our national nightmare of a sleeveless First Lady end?
###
###
So ... can Vikram Pandit and John Thain and the rest of the Wall Street thieves buy enough STUFF to keep an entire nation's economy going?
How nice for Paul Bremer, that he can dabble in a different kind of oil:
WASHINGTON (CNN) – L. Paul Bremer, the former head of the Coalition Provisional Authority in Iraq, has a new trade: painting.
Bremer has launched Web site promoting his work, mostly oil paintings on canvas or panels, depicting wintery landscapes in Vermont, where he has "an old farm house." He's also holding an exhibition — his second — in the Vermont town of Grafton this summer.
###
The principled competence of the Bush administration
A former top NASA official has been indicted on charges of steering $9.6 million in agency funds to a consulting client.
The U.S. attorney's office announced a three-count indictment on Friday against Courtney Stadd of Bethesda, Md., who had served as NASA's chief of staff and White House liaison.
If they can live long enough.
3-month Treasury bills have zero interest. In that you'd probably have to pay a handling fee, they're no different from renting a safe-deposit box and stuffing it full of currency. Look at the chart and see when the last time was that they were at a zero interest rate. Serial divorcee/adulterer Newt Gingrich says he's seriously considering a 2012 run.
Please! Let the man who served his cancer-ridden wife with divorce papers in her hospital bed run for President!
Obama relies on a teleprompter for all speaking engagements, snickers Politico. They prolly had a laugh-riot over Dumbyah relying on cue cards from Dick Cheney, or on his "hidden" receiver that was hooked up to Karl Rove's porcine yapper.
Oh, right.
The Columbia Journalism Review loves them some Jon Stewart, for his reporting on the epic fail that is CNBC.
As it should be. See the video here.
###
Fears of a clown
Because sometimes there is nothing better than insulting a vile, bloated piece of shi*
The sweaty, swollen man in the black, half-buttoned shirt who ranted for nearly 90 minutes Saturday at the Conservative Political Action Conference. He reiterated his desire to see the president of his country fail. He misstated the Constitution's intent while accusing President Obama of "bastardizing" the document. He made fun of one man's service in Vietnam, to laughter.
David Letterman compared him to an Eastern European gangster. But he looked more like a bouncer at a strip club who spent all his tips on one bad outfit. And for the Republican Party, Limbaugh has become very much a vice....
[L]et us never forget that the bailouts of banks and insurance companies were initiated by the Republican president Limbaugh defended for eight years.
Read the whole thing here.
The three judge panel of the 11th Circuit has ruled. I am disappointed. The fight will continue. My family and I are deeply appreciative of the outpouring of support and prayers. Your words and actions keep our spirits lifted and our resolve strong. We will get through this and we will win.
Siegelman went to prison after his sentencing in June 2007, but was freed last year on appeal bond. He currently faces a seven-year term, which may be reversed since the 11th Circuit ordered a new sentencing hearing.
Some Senate Democrats, including members of the Appropriations Committee, are angry that Feingold and Bayh have panned the massive spending bill after legislative priorities important to both lawmakers were included in the package.
One Democratic senator familiar with the discussions said his colleagues are irked that they "bent over backwards" to include provisions important to Feingold and Bayh, only to have both lawmakers slam the omnibus.
Senate Majority Leader Harry Reid (D-NV) told The Hill that "he did not expect lawmakers who win projects in spending bills to support those bills," though he also expressed frustration with Bayh. "I have 58 members of the caucus — I don't run the caucus for Evan Bayh," said Reid.
###
Ex-UN prosecutor: Bush may be up next at the Hague: http://rawstory.com/news/2008/ExUN_prosecutor_Bush_may_be_next_0307.html
###
4,256 soldiers killed in Iraq; 661in Afghanistan.
###
No comments:
Post a Comment