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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?

More Bailout; Geithner, Holder Appointments; Gaza News; W's Legacy; Obama's Inauguration

A Note From your Bloginatrix:

In my Second Life (actually my non-work life) I am a gardener of dubious distinction but passionate engagement. I was pleased to pass on news of this idea to the former NPR Garden Blogger Ketzel Levine, now it's been awarded grand prize idea at OnDayOne.org. I heartily advocate this concept and want to share it with all of you.

  A wish for the world this holiday season. Peace to all and may our future be hopeful.

Peace_symbol_6_l

Auto Bailout; Madoff; Senator Caroline? More Obama-noms

Merry Christmas to all and Happy Chanukah, Kwanzaa and Chinese New Year. (Did I leave anything out?) President Bush decided to rescue the auto industry to the tune of $17.4 billion  in loans. Bob says he punted the tough calls to Obama; Tony says what else could he do? Madoff made off with billions, and Bob agrees with Paul Krugman who said that these financial titans destroyed, not built, wealth. Tony defends capitalists against these charges. Will Caroline Kennedy be the next senator from NY? Should she be? What's this political aristocracy thing about? Matt thinks it's demoralizing. Tony says NY loves celebrity senators. Even if they're not qualified. Obama-noms are discussed. And by the way: have you heard there's a chance the White House bowling alley may be retooled as a basketball court??????

Sorry Arianna couldn't be here this week but we certainly want to hear from YOU!

MENTIONED ON TODAY'S SHOW
MATT'S BLOG!
mattmilleronline.com

New York Times Op-Ed Columnist
The Madoff Economy
By PAUL KRUGMAN
Published: December 19, 2008

The revelation that Bernard Madoff — brilliant investor (or so almost everyone thought), philanthropist, pillar of the community — was a phony has shocked the world, and understandably so. The scale of his alleged $50 billion Ponzi scheme is hard to comprehend.The scale of his alleged $50 billion Ponzi scheme is hard to comprehend.

Yet surely I’m not the only person to ask the obvious question: How different, really, is Mr. Madoff’s tale from the story of the investment industry as a whole?

Charles Krauthammer's syndicated column
http://www.azstarnet.com/sn/printDS/272324

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)

                The Future of Capitalism: Which Way Now?

Here's Tony's column:

Wednesday, November 26, 2008

Daschle-Obama Health Care Possibilities

by Tony Blankley

 ****    HAPPY THANKSGIVING EVERYONE   *****

Economy, Stocks/Auto Bailout/Obama’s Cabinet Picks

As the economy tanks, the panelists agree with a Paul Krugman column in today’s NYTimes (see links post, next one down), we don’t have 2 months to wait. Tony wants Obama -- knowing there’s only one president at a time – to take the lead and signal where he’s going with the economy since W can’t get traction and the Congress is less than useless. He calls the three testifying auto company execs nitwits for being so tone deaf …and calls Congress stupid for saying they’re not going to protect 3 million jobs because these 3 nitwits flew in on private jets. Obama must act now. Arianna says, get rid of the nitwits and put a general plan for restructuring in action. They talk about Hillary Clinton – Bob worries she might be a hawk – and Janet Napolitano – Tony says she’s not qualified… There’s a lot of action on today’s show. Tony’s rant is a madrigal – and it’s beautiful! (words in the Links post below this one). And please share your thoughts.

Next week's show is: The Future of Capitalism: Which Way Now? A think piece for the holiday.