memeorandum: James K. Galbraith Reponds to Geithner's Toxic Asset Plan (James K. Galbraith/Firedoglake)

4:15 PM ET, March 21, 2009

Top Items:

Despair over financial policy — The Geithner plan has now been leaked in detail. It's exactly the plan that was widely analyzed — and found wanting — a couple of weeks ago. The zombie ideas have won. — The Obama administration is now completely wedded to the idea …

Discussion: Hullabaloo, But As For Me, European Tribune, Clusterstock, Newshoggers.com, QandO, The Strata-Sphere, No More Mister Nice Blog and Bob Cesca's Awesome Blog!

James K. Galbraith / Firedoglake:

James K. Galbraith Reponds to Geithner's Toxic Asset Plan — digg it — I've just been reading the NYT report. — The central Treasury assumption, at least for public consumption, seems to be that the underlying mortgage loans will largely pay off, so that if the PPIP buys and holds …

Discussion: TPMCafe and Corrente

John Cole / Balloon Juice:

The Geithner Plan — The reviews are in on the leaked Geithner plan, and we are going to do something different here for a change. We are not going to listen to people who have been wrong about everything, and instead are going to listen to people who have been more right than wrong.

Binyamin Appelbaum / Washington Post:

Bankers Press Case Against Punitive Tax — Executives Cite Health of Industry, Economy — An alarmed banking industry looked for friends in Washington yesterday as it tried to head off severe congressional restrictions on compensation, fearful that a wave of popular anger about vast paydays …

Discussion: AMERICAblog News

Yves Smith / naked capitalism:
Private Public Partnership Details Emerging

Discussion: The Moderate Voice, Paul Krugman and Taylor Marsh

Calculated Risk:
Geithner's Toxic Asset Plan

Discussion: Marginal Revolution

New York Times:
Toxic Asset Plan Foresees Big Subsidies for Investors

Discussion: Washington Monthly, Economist's View, Political Machine, D-Day, JustOneMinute, Obsidian Wings, Wonk Room, Booman Tribune, The New Republic, TPMCafe and The Reaction

Mike Allen / The Politico: Treasury to roll out toxic asset plan

New York Magazine:

Busload of Crazies to Tour Homes of AIG Executives This Weekend — Less than a year ago, the most repellent area bus tour we knew of was the one that induced Sex and the City-crazed tourists to put $40 on their Citi cards for a cupcake and a glimpse at Carrie Bradshaw's brownstone. How times have changed!

Discussion: Little Green Footballs, Fausta's Blog, AMERICAN DIGEST, Sweetness & Light and Hot Air

John Christoffersen / Associated Press:
Activists protest bonuses at AIG executives' homes

Discussion: JammieWearingFool and But As For Me

Jesse J. Holland / Associated Press:

‘Hillary: The Movie,’ now showing at Supreme Court — Featured Topics: - Barack Obama - Presidential Transition — WASHINGTON - Months after its debut, “Hillary: The Movie” faces nine of the nation's toughest critics: the Supreme Court. — The justices' review of the slashing documentary financed …

Discussion: ECHIDNE OF THE SNAKES

Juan A. Lozano / Associated Press:

Double jeopardy in before US Supreme Court — HOUSTON - A former Enron Corp. executive is hoping a little known component of the Fifth Amendment's double jeopardy clause will help him avoid a retrial on charges related to financial fraud at the once mighty energy giant.

Discussion: But As For Me

Joe Nocera / New York Times:

The Problem With Flogging A.I.G. — Can we all just calm down a little? — Yes, the $165 million in bonuses handed out to executives in the financial products division of American International Group was infuriating. Truly, it was. As many others have noted, this is the same unit whose …

Discussion: Salon, The Swamp, Wall Street Journal, The Corner, TalkLeft, Prairie Weather, Connecting.the.Dots, Commentary, Dean's World and Corrente

David M. Herszenhorn / New York Times:
Obama Uneasy About Tax on Bonuses

Discussion: The Politico and DISSENTING JUSTICE

Lisa Demer / Anchorage Daily News:

Palin's legal debts pile up — ‘SUBSTANTIAL’: Governor may create fund to pay the bills. — ldemer@adn.com — Gov. Sarah Palin owes more than a half million dollars to an Anchorage law firm that has defended her against ethics complaints, and she may create a legal fund to pay the bill, she said Friday.

Discussion: The Hill's Blog Briefing Room, PERRspectives, Think Progress, Conservatives4Palin.com and D-Day

Liz Sidoti / Associated Press:

Analysis: Obama rhetoric, reality clash — Featured Topics: - Barack Obama - Presidential Transition — WASHINGTON - Barack Obama's optimistic campaign rhetoric has crashed headlong into the stark reality of governing. — In office two months, he has backpedaled on an array of issues …

Discussion: Stop The ACLU

The Politico:
VIDEO: Obama's 4 budget principles

Discussion: Reuters, The Swamp and Associated Press

Helene Cooper / New York Times: Obama to Push Programs in Budget

Ross Colvin / Reuters:

Obama says would not accept Geithner resignation — WASHINGTON (Reuters) - President Barack Obama said he would not accept Treasury Secretary Timothy Geithner's resignation if it was offered, according to excerpts from a television interview to be broadcast on Sunday.

Discussion: Associated Press and The Politico

Lolita C. Baldor / Associated Press:

Obama criticizes some Guantanamo release decisions — Featured Topics: - Barack Obama - Presidential Transition — WASHINGTON - President Barack Obama says the U.S. hasn't done a good job sorting out who should be released from the Guantanamo Bay detention center.

Kris Maher / Wall Street Journal:

Three Companies to Back Proposal on Union Bill — Three big retailers are expected to back an alternative proposal next week on a hotly contested bill that would make it easier to unionize workplaces, a move some experts said would bolster the legislation's chance of passage.

Discussion: Think Progress and The Politico

Michelle Malkin:

Liveblogging the Lexington KY Tea Party; Ridgefield CT Tea Party protesters say “DUMP DODD;” 3k in Orlando; Raleigh NC represents — There are between 300-500 peaceful, grass-roots activists protesting out-of-control government spending in Lexington KY. Reader Eric is liveblogging.

Discussion: Pajamas Media