Top Items:
Paul Krugman:
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 …
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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:
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.
Discussion:
Obsidian Wings
Yves Smith / naked capitalism:
Private Public Partnership Details Emerging — The New York Times seems to have the inside skinny on the emerging private public partnership [abortion] program. And it appears to be consistent with (low) expectations: a lot of bells and whistles to finesse the fact that the government …
New York Times:
Toxic Asset Plan Foresees Big Subsidies for Investors — WASHINGTON — The Treasury Department is expected to unveil early next week its long-delayed plan to buy as much as $1 trillion in troubled mortgages and related assets from financial institutions, according to people close to the talks.
Discussion:
Washington Monthly, Political Machine, D-Day, JustOneMinute, Wonk Room, The New Republic, TPMCafe and The Reaction
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
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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
David M. Herszenhorn / New York Times:Obama Uneasy About Tax on Bonuses
Discussion:
DISSENTING JUSTICE
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!
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Jesse J. Holland / Associated Press:
Now showing at Supreme Court: ‘Hillary: The Movie’ — 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 …
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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
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.
Ali Akbar Dareini / Associated Press:
Iran's supreme leader dismisses Obama overtures — TEHRAN, Iran - Iran's supreme leader rebuffed President Barack Obama's latest outreach on Saturday, saying Tehran was still waiting to see concrete changes in U.S. policy. — Ayatollah Ali Khamenei was responding to a video message Obama released Friday …
Susan Haigh / Associated Press:
Dodd's stock with voters began dropping before AIG — HARTFORD, Conn. - Howard Rosenblatt voted for U.S. Sen. Christopher Dodd five years ago. He won't do that again. — “It's time for Chris to resign,” said the 62-year-old owner of Rosenblatt's department store in Naugatuck, Conn., a working-class borough of more than 30,000.
Howard Schneider / Washington Post:
Israeli Soldier Says Military Rabbis Framed Gaza Mission as Religious — A soldier involved in Israel's recent military offensive in the Gaza Strip said in published reports Friday that the military's rabbinical staff distributed material characterizing the operation as a religious mission to …
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The Politico:
VIDEO: Obama's 4 budget principles — Featured Topics: - Barack Obama - Presidential Transition — Previewing a critical week for his administration, President Barack Obama on Saturday called on Congress Saturday to pass a budget that adheres to four principles: increasing energy independence …
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