Shut’em down, take’em over. But stop giving them cash

And we just got fooled again. Today, we (and when I say we I mean the government, ergo taxpayers, ergo us) made another bonehead financial deal with the Bank-rupt CitiGroup. We didn’t necessarily give them anymore cash but about $25 billion we’ve already spent, we are taking in common share...

Dividing the Spoils

Um, Alison, I’m not sure if this is what John Quiggin meant when he said “Citigroup’s global operations are too big for the US to handle alone.” Still, your scoop does lend credence to the theory that modern capitalism was invented by pirates. Ahem. Related: For more on  Citigroup’s...

The Stench of Desperation (I am [not] Joe).

Right wing identity politics and carefully-manufactured pseudo-populist rage against ‘vote fraud’; Race/red/God-baiting Obama to ridiculous extremes; the hyperbolic overreaction to McCain’s latest campaign stunt FAIL. Oh, and my personal favourite (pace the good Doctor), McCarthyism redux...

Happy Market Meltdown Monday!

So, what did we learn this weekend (besides the fact that Sarah Palin is the spiritual reincarnation of Richard Nixon and John Sidney McCain III has, according Howard Wolfson, jumped the shark)? Well, the European banking crisis is spreading; US bank failures are expected to increase in ’09; US...

“The Foundations of US Capitalism Have Shattered.”

Hat tip to local Vancouver celeb buzzbishop via Twitter. In fact, it really does look as if the foundations of US capitalism have shattered. Since 1864, American banking has been split into commercial banks and investment banks. But now that’s changing. Bear Stearns, Lehman Brothers, Merrill Lynch...

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