by Ken Houghton Brad DeLong lays out the breakdown. When 2/3 of your party believes that taking the Dow down 600 750+ points is a Good Idea, claims such as “the party of fiscal responsibility”—or even the “party of Wall Street”—fail the free market test Big Time. If I weren’t worried about the coming harvest, […]

The defences of Alan Greenspan at Grapsing Reality… are legendary. (This response to Tom is my favorite of the lot, and rather representative.) Which makes today’s conversion announcement all the more noteworthy.

UPDATE: Not even the Wall Street Journal editorial page fell for McCain’s “reasoning”: So count us as mystified by Senator John McCain’s decision yesterday to suspend his campaign and call for a postponement in Friday’s first Presidential debate so that he and Barack Obama can work out a consensus bill to stabilize the financial system. […]

Remember that plan of Patrick Ruffini’s, that McCain should run against whatever plan is developed: For McCain and other Republicans, voting “no” on Paulson without accepting the consequences of that vote is the political equivalent of a bottomless crack pipe: it will please the conservative “base,” distance them from both Bush and “Washington,” and let […]

Take a page from Douglas North et al., I will simply note that if the institutions charged with managing the process are corrupt, the chance of success approaches zero. Case in point, Christopher Cox (R-BoughtAndPaid) and the SEC: The interesting thing here is that we have already heard that the S.E.C. staff almost immediately demanded […]

by Ken Houghton It was five degrees (C) warmer here this morning than the previous two days of taking the Eldest Daughter to her school bus. Presumably, this is balanced out in part by record-low temperatures in Hell, as the WSJ editorial page (well, Thomas Frank, but still…) summarizes the McCain Position: Last week, Republican […]

by Ken Houghton I don’t believe David Leonhardt is an idiot, but that’s not based on the evidence at hand: There are really only two [questions]: What steps are most likely to solve the immediate crisis? And how can the long-term cost to taxpayers be minimized? Everything else — reducing executive pay on Wall Street, […]

by Ken Houghton Via Glenn Greenwald, a riff that is going around (see orchidgrrl nyc for the faux-Fafblog version), has become reality—in India: Corporate India is in shock after a mob of sacked workers bludgeoned to death the chief executive who had dismissed them from a factory in a suburb of Delhi. The punchline, as […]

Now I understand why McCain’s (mis)handlers are complaining about the NYTimes.* *Ignoring that they already know they’re not winning the election, and therefore want to keep the base motivated for the imminent Obama impeachment.