Stocks are Up…

…Could that possibly be because of the $630bn Paulson infused into the global market? It doesn’t seem like anyone is connecting these dots.
Stocks rallied Tuesday afternoon as investors scooped up shares battered in the bloodletting that followed Congress’ failure to pass a $700 billion bank rescue plan.
Instead, the plunge is being called Wall Streets cry, [...]

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If the Fed Pumps $630bn Into Economy, Why Do We Need a Bailout?

The Fed is sidestepping Congress, and is infusing $630 bn into out financial system.
The Federal Reserve will pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.
The Fed increased its existing currency swaps with foreign central banks by $330 billion to [...]

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When the Corporatocracy Has You By the Balls

I don’t think anyone has any illusions that this bail-out plan is nothing more than the corporatocracy stealing from the poor/middle class. If you don’t think this is so, then you aren’t really paying attention.
But, in all this, I think that while $700bn is an obscene amount for taxpayers to hand over, that there has [...]

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Chocolate Recall

First it was melamine in our pets food, then in baby formula, and it looks to be tainting our coffee, and now, horrors of all horrors, melamine is in our chocolate.
British chocolate maker Cadbury on Monday became the latest foreign company to be hit by China’s tainted milk scandal, ordering a recall of its Chinese-made [...]

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On Short Koreans, Short Americans, and a Short McCain

I knew that there was more to the story to McCain’s strange quip during the first debate. You know the one, North Koreans are three inches shorter than their southern counterparts. Well, amazingly it’s true, but McCain was exaggerating just a wee bit, well, by an inch to be exact.
During the first presidential debate, Senator [...]

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Post Debate and Economic Wrap-up From TN Pregressives

The “toxic debate derivatives” edition of the weekly Tennessee progressive blog roundup with a look at what the state’s best bloggers are talking about…
• 10,000 Monkeys and a Camera: Senator Drama Queen: …how does a man go, in just a few days, from claiming that the economy is fundamentally sound to marching all over Washington, [...]

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Bail-out Plan Reached

Update: Here’s the draft of the bail-out bill (via)
It appears that there is a bail-out plan, and dems were able to put some sensibility into the bill. We will have to wait for this verbal agreement to be comitted to paper to see exactly what it contains, but the Politico is reporting a summary of [...]

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Team McCain: 40 Gambling Lobbyists to go Along With the 83 Banking Lobbyists

For all the stuff and nonsense McCain has tried to give you, that he’s going to change Washington, and curb lobbyists, you would never know it by the makeup of his campaign team which includes a total of 177 lobbyists, or the transition team that is headed by Freddie Mac lobbyist.  We’ve already discussed the [...]

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RIP Paul

A great loss is being felt as we learn Paul Newman has passed away.
Paul Newman, the Academy-Award winning superstar who personified cool as the anti-hero of such films as “Hud,” “Cool Hand Luke” and “The Color of Money” — and as an activist, race car driver and popcorn impresario — has died. He was 83.
I [...]

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More on the Obama/McCain Debate and Kissinger Flip-flops

Well, I seem to be in disagreement with the NY Times editorial board, Greg Sargent, Chris Bowers and others. I saw the debate exactly opposite from them — that Obama was shaky on economic issues and was far stronger than McCain on foreign policy.
Personally, I felt both McCain and Obama vacillated on key points, and [...]

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