1 post tagged “harry reid”

UPDATE on 1/12/2009: Listen to Matt Miller discuss "The Tyranny of Dead Ideas" on Tue., Jan. 13 at 2:30 pm PT at www.KCRW.com/etc/programs/pc (streaming, podcast and on-demand) with LA City Council President Eric Garcetti.

                            Please get creative: show us what a Panetta Kerfuffle looks like.

Economy/Unemployment; Gaza Burning; Panetta Kerfuffle

We’ve invented a new dessert: the Panetta Kerfuffle, but that comes later in the show. First we collectively decide that Obama’s big speech about the economy may not be big enough. Then the inevitable disagreements over the Israel/Gaza conflict are discussed. No end in sight. And finally: the Panetta Kerfuffle. Take one former Clinton Chief of Staff, throw in the initials CIA, mix together with whining establishment Senators and Congressional Representatives, add a dose of media and questions about Biden’s involvement and – you’ve got the Panetta Kerfuffle.

Just for fun:

Watch Matt Miller on COLBERT REPORT here: http://mattmilleronline.com/index2.php

LINKS MENTIONED IN TODAY'S SHOW:

Paul Krugman, THE OBAMA GAP NY Times 1.9.09.

http://www.nytimes.com/2009/01/09/opinion/09krugman.html?_r=1&ref=opinion&pagewanted=print

“I don’t believe it’s too late to change course, but it will be if we don’t take dramatic action as soon as possible. If nothing is done, this recession could linger for years.”

So declared President-elect Barack Obama on Thursday, explaining why the nation needs an extremely aggressive government response to the economic downturn. He’s right. This is the most dangerous economic crisis since the Great Depression, and it could all too easily turn into a prolonged slump.

But Mr. Obama’s prescription doesn’t live up to his diagnosis.

$700 Billion Dollar Attaboy

Today’s must read MSM piece is a brutal Bloomberg column, delineating why the Bailouts have been such a sweet deal for the banks. Despite the gross incompetence and sheer recklessness of Wall Street and the Financial sector, they were handed massive amounts of money with little in the way of returns to the taxpayer, no specific guidance or requirements....

Source:
Paulson Bailout Didn’t Give Taxpayers What Goldman Gave Buffett
Mark Pittman
Bloomberg, Jan. 9 2008
http://www.bloomberg.com/apps/news?pid=20601087&sid=aAvhtiFdLyaQ&

Geithner Preparing Overhaul Of Bailout
Obama Team Broadens Scope to Secure Final $350 Billion for Rescue

By David Cho
Washington Post Staff Writer
Friday, January 9, 2009; A01

Confronted with intense skepticism on Capitol Hill over the $700 billion financial rescue program, Treasury Secretary nominee Timothy F. Geithner and President-elect Barack Obama's economic team are urgently overhauling the embattled initiative and broadening its scope well beyond Wall Street, sources familiar with the discussions said.

ARIANNA MENTIONED http://bailoutsleuth.com/