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Slipping into Socialism or Sliding into Protectionism?  Obama says SHAME ON YOU to Wall Street and really: what are they doing giving $2 billion in taxpayer dollars out to their executives in the form of bonuses for failures? A very feisty discussion follows, lots of interrupting each other, but ultimately, all three agree, it’s irresponsible. Obama’s recovery plan has taken the bi out of bi-partisan, and left a wide divide between the Dems and GOP. Did he subcontract the plan to Nancy Pelosi? Were Republicans listened to at all? They voted NO in lockstep. And Tony is upset with the language Obama used in talking about Muslim nations on his Al Arabiya TV interview – says he’s gotten the history wrong.

Arianna’s in Davos and simply couldn’t get away to join the show today. Apologies.

Here's that Slate piece Matt mentioned:

The Quitter Economy

Companies are liquidating; homeowners are mailing in the keys. Have we given up?

GOP to Detroit-NO! Oy Blagojevich! Obama Nominees

The Senate GOP rejection of the House/Admin deal is top of the news. All believe that W’s “kick the can down the road” policy -- taking the a portion of the banks’ TARP and applying it to the auto bailout -- is inevitable, but Arianna marvels at the double standard that allow the banks to get free money while Detroit and its workers could hang themselves with the attached strings.  Illinois governor Blagojevich: what more need we say? Bob takes the opportunity to condemn the media for hoisting this story above the other important news, like Afghanistan and the report condemning Bush admin for use of torture. Arianna says the whole thing’s more fascinating psychologically than politically citing Julius Caesar (the fault is not in our stars but in ourselves), while Tony says Rahm Emanuel and other Obama transition team members seem act as if they have something to worry about. He reminded us that Nixon didn’t know about Watergate but got in trouble when he tried to cover it up. And in the energy arena, is Dr. Steven Chu, noted and respected physicist and Obama’s nominee, a mad scientist? We know he wants to make gas prohibitively expensive—but electricity, too? Is he nuts? Or right? Listen in and weigh in -- or put up a post before the show begins!

MATT MENTIONED THIS COLUMN in the show:

Blagojevich's Behavior Is Common

Trading favors is de rigueur in politics.

"...But while what Blagojevich did is undeniably beyond the pale, it is frankly much more common in the political world than anyone has been willing to acknowledge."  (read the rest at the link above)