Yearly Roundup

More like this

One problem stemming from the collapse of housing prices is that many households, even if they can still make their overpriced mortgages, are going to be paying far more for their houses than they should. That means less money for other things, from the frivolous to the important. So I've always…
The reason the AIG bonuses are upsetting isn't the amount of the bonuses--although the bonuses are larger than the entire National Endowment for the Arts budget--it's the complete impotence of and cooptation of the government by the financial sector (yes, we need banks and a financial sector, but…
Because AIG is paying bonuses to the division that created a lot of Big Shitpile (italics mine): The American International Group, which has received more than $170 billion in taxpayer bailout money from the Treasury and Federal Reserve, plans to pay about $165 million in bonuses by Sunday to…
In the past, I've referred to Peter Pan Conservatives--those who think that winning wars is largely about will (and not logistics, supply, or local political conditions). Well, Treasury Secretary Geithner is now practicing Peter Pan economics: ...top officials in the Obama administration and at…