Deadman's picture

    Eliot Spitzer: A thoughtful voice of reason (alas, without any power)

    I strongly encourage everyone to watch this video as former New York Governor Eliot Spitzer gives  thoughtful, reasoned insights into a whole host of recent topics related to our financial crisis, including AIG bonuses, Obama's performance, the media's impact, regulation, etc.

    I recommend the 20-minute Fareed Zakaria CNN interview in its entirety, but if you only have limited time, Spitzer offers a concise explanation into the cause of our current economic situation for a few minutes starting at about the 10:45 mark.

    Deadman's picture

    Public-private partnership proposal poses plenty of problems

    Oh goody. Looks like we're about to hear the details of Geithner's long-awaited financial stability plan, which has as one of its key components a public-private investment pool designed to help rid our system of the toxic assets rotting away on bank balance sheets.

    Apparently, the Treasury will hire four or five private investment managers to run a fund that will purchase the assets. The government will then match whatever monies the private firms manage to raise and invest.

    Deadman's picture

    The Congress AIG Bonus Bill: Bravo! (Seriously...)

    Great. Now there's a backlash to the backlash to the AIG bonuses, and everyone is scolding Congress for acting so rashly in crafting a bill designed to recover 90% of the bonuses in taxes.

    Conservatives are complaining the bill is unconstitutional and unproductive. In his Obama interview, Jay Leno said he's frightened about its implications, and our own Genghis is mocking the effort.

    Gimme a break.

    Deadman's picture

    CBS, Microsoft: Brilliant NCAA Tournament Silverlight strategy

    Well, except for a couple of close final games (sorry A-man about the Illini loss), it was a pretty uneventful first day in the 2009 NCAA March Madness tourney (you know it can't have been too interesting when your girlfriend correctly selects every game but one - she feels your pain A-man!).

    So I figured instead of discussing the actual games, I'd quickly mention an interesting side issue surrounding CBS Sports' online coverage of the tourney.

    Michael Wolraich's picture

    China: Tiger on a Leash

    As the U.S. sinks deeper into recession and China gorges itself on ever greater quantities of American debt, you will start to hear about the "Chinese model" and the end of American hegemony. Yet China remains tethered by a stiff leash which will ultimately choke the charging tiger once it runs out slack: its government.

    Deadman's picture

    The dagbuzz for 3/17/09: Zombie Banks and Executive Suicides

    Iowa Republican Senator Charles Grassley yesterday went on the radio and suggested AIG executives do what their Japanese peers often do when the proverbial shit hits the fan and either "resign or go commit suicide."

    Series: 
    Deadman's picture

    AIG Chief on Bonuses: Our 'Hands are Tied...' Are You F-in Kidding Me?

    Apparently, $175 billion doesn't buy what it used to.

    AIG has decided that it has no choice but to pay out $165 million in bonuses to employees due to contractual obligations. And the government has decided it has no legal recourse to stop the payments.

    Deadman's picture

    Cramer v. Stewart: Wow!

    I have railed against CNBC host Jim Cramer for some time. I enjoy him greatly as an entertainer, and when he focuses on the inner workings of the stock market, I think he does a pretty decent job of educating regular investors as well.

    Deadman's picture

    The dagbuzz for 3/11/09: Grading Obama's Presidency??

    So some jackass reporter decided to ask White House Press Secretary Robert Gibbs to grade President Obama's performance after a whoppin' 50 days in office. Seriously? You could pass the question off as harmless, silly journalistic tripe, but I think it's symptomatic of a rush to judge and criticize anything and everything Obama is trying to accomplish. It's unhealthy, unproductive and unfair. The time to hand out grades will eventually come, but for now, how about giving the president a break and let him do his job.

    Series: 
    Deadman's picture

    Whaddya know?? Markets go up too! ...

    I am usually the bearer of such depressing market and economic news, I have to at least give some props when there are some good things to talk about.

    Topics: 
    Deadman's picture

    Happy Weekend!! ...

    This is a fun chart to look at - thanks to http://dshort.com. Assuming this market meltdown proves to be a reasonable fascimilie of the big, bad one, as I believe it will, we have a long way down yet to go.

    We are so overdue for a decent-sized short-term relief rally, I think we may get one as soon as next week, but I bet when all is said and done we get much closer to that down 89% total.

    Topics: 
    Deadman's picture

    Could an economic depression make us less depressed?

    The world is too much with us; late and soon,
    Getting and spending, we lay waste our powers:
    Little we see in Nature that is ours;
    We have given our hearts away, a sordid boon!

    I don't know many very happy people. I know people who are content enough, I suppose. I know plenty of people who do a decent job at hiding their discontent. (As for myself, I'm probably somewhere in between those two categories, leaning toward the former).

    Deadman's picture

    The dagbuzz for 3/2/09: (Abuse, Co-Dependency and Fear of Change)

    Today, I discuss codependent, abusive relationships, and our general resistance to change. Deadman understands the deal. He, too, just wants to relive the good old days and focus on things that will always stay the same, like the Middle East conflict.

    Series: 
    Deadman's picture

    The dagbuzz for 3/1/09: (Obama's War on the Wealthy)

    Been away all week on business, listening to my colleagues and the talking heads on CNBC bitch and moan about Obama's budget and economic policies. They believe he's declaring war on the wealthy and is going to destroy the economy with his increased tax hikes.

    Are you fucking kidding me?!?

    Oh yeah, I feel a rant coming on ...

    Series: 
    Deadman's picture

    Nationalize Now

    I am going to try and keep this as short as possible because I'm off on a biz trip tomorrow (expect a lot less blog activity from me for about a week) and have things I need to get done before then.

    But I just had to comment on the statement released jointly this afternoon by the Treasury, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Office of Thrift Supervision (OTS), and the Fed.

    Michael Wolraich's picture

    Get Yer Hot D-Bills Here!

    Loyal readers have been anxiously following dagblog.com's financial troubles in this difficult economy. On Tuesday, after dagblog's appeals for federal assistance were rebuffed, I sadly announced that all the other members of the dagblog team would have to be let go.

    Deadman's picture

    Michael Phelps may have been on(to) something ...

    I can't stop stewing over the fact that the South Carolina sheriff decided to investigate Michael Phelps' notorious bong hit, with an eye toward possible prosecution.

    I know, I know, the sheriff dropped the investigation earlier this week after deciding there wasn't enough evidence to convict Phelps, who wisely did not admit to smoking the funny weed but merely apologized for using 'bad judgment.'

    Deadman's picture

    The dagbuzz for 2/17/09: (Obama's New New Deal?)

    (Video below)

    So Obama is signing the American Recovery and Reinvestment Act of 2009 into law in Denver this afternoon. I've heard several pundits calling the $787 billion stimulus package the beginning of Obama's New Deal. In today's dagbuzz, I discuss why that comparison is foolish, and why we probably couldn't even afford a new New Deal even if we desperately needed one.

    Series: 
    Michael Wolraich's picture

    Economic Stimulus and the Parent Principle

    The $789 billion stimulus bill passed today. As expected, the Republican leadership carped about the cost. Senate Minority Leader Mitch McConnell complained, "We've heard a lot from our friends about the danger of deficits over the past few years...Americans are wondering how we’re going to pay for all this." In case this message was too abstract for average Americans, McConnell supported his point with a common sense analogy, "Any parent knows you don't buy a new car and plan the summer vacation before you set the family budget for the year."

    Deadman's picture

    The Buzz for 2/10/09: (Geithner, Geithner, Geithner)

    The buzz today is focused solely on Treasury Secretary Timothy Geithner's financial stability plan. My quick verdict is that the plan is woefully inadequate on details, and I just don't understand the rush to announce this plan without a more specific framework for implementation.

    Pages

    Latest Comments