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Happy Hour Roundup

By Greg Sargent

* History lesson of the day: Harold Meyerson says Nancy Pelosi does not bear much blame for the Dems' shellacking, because she pushed for a bigger stimulus and passed jobs bills that tanked in the Senate. Remember all that stuff?

* Nice catch by Justin Elliott: George W. Bush's new book reveals that Mitch McConnell was privately asking for a reduction in troops in Iraq for political reasons in 2006 right when he was bashing Dems for calling for a pull-out.

* Is defeated Dem Alan Grayson plotting a political comeback? He tells ABC News' Top Line that he's taking care to make sure his volunteer and supporter base and political operation don't "atrophy."

* Dana Milbank responds to Bill O'Reilly's "joke" about whether Sharia law justifies beheading him:

I suspect O'Reilly's fury -- he went after me on three consecutive nights last week -- has less to do with one sentence in one column than with a book and a series of columns I've written about O'Reilly's colleague Glenn Beck. I've argued that Beck, with his talk of violence, Nazis and conspiracy theories, is all but inviting fringe characters to take up arms. I've held O'Reilly up as a responsible alternative to Beck -- but O'Reilly seems determined to prove this wrong.

* Brian Beutler reports that Obama's fiscal commission wisemen released their draft report because they were non-starters internally and to ensure that it's a starting point for public debate.

* And Sam Stein reports that other commission members were blindsided by the draft release, still another sign that this was all about gaming the process.

* Paul Krugman to the commission: "So you're going to tell janitors to work until they're 70 because lawyers are living longer than ever."

* Ezra Klein nails it:

The co-chairmen have some interesting policy ideas for how to balance the budget, but as of yet, they've not made any discernible progress on the political deadlock preventing us from balancing the budget. And it's the deadlock, not the policy questions, that they were asked to solve.

* Steve Benen says the commission's draft is "hopelessly irrelevant."

* John Boehner's post-election approval rating has soared all the way up to 34 percent. (Though, in fairness, it's higher than Harry Reid's approval of 25 percent.)

* Boehner says no compromise on the Bush tax cuts.

* Ari Berman on why the midterms did not vindicate the Blue Dogs.

* And Jonathan Capehart says the 'Cuda won't run for president because she's already learned the hard way that "the money, attention and adulation are much better when you're not encumbered by accountability."

What else is happening?

By Greg Sargent  | November 10, 2010; 6:24 PM ET
Categories:  2010 elections, 2012, House Dems, Senate Republicans, deficit  
Save & Share:  Send E-mail   Facebook   Twitter   Digg   Yahoo Buzz   Del.icio.us   StumbleUpon   Technorati   Google Buzz   Previous: Awkward timing for Democrats
Next: The Morning Plum

Comments

This release is going to get attacked from all sides. From cuts to cherished Defense projects to sacred social safety nets.

DOA?

Posted by: mikefromArlington | November 10, 2010 6:32 PM | Report abuse

"Sam Stein reports that other commission members were blindsided by the draft release, still another sign that this was all about gaming the process"

Imho to the Dems advantage.

Posted by: Ethan2010 | November 10, 2010 6:32 PM | Report abuse

All, I'm getting the sense things have improved a bit in the comments section. Is that right?

Posted by: sargegreg | November 10, 2010 6:36 PM | Report abuse

@Greg: "Obama's fiscal commission wisemen released their draft report because they were non-starters internally."

If *everything* in that report was a non-starter then we're all doomed...

Posted by: sbj3 | November 10, 2010 6:38 PM | Report abuse

Yup. Whack-a-troll was a success.

Posted by: mikefromArlington | November 10, 2010 6:39 PM | Report abuse

Thanks Greg.

Posted by: shrink2 | November 10, 2010 6:39 PM | Report abuse

The truth is Obama has been making irrational decisions for two years now.


Obama's campaign is beginning to look more like a manic episode - than anything grounded in reality.


Each individual democrat will have to decide whether to continue to support Obama and his irrational decisions - or to support what is best for the nation.

.

Posted by: OrangeForces | November 10, 2010 6:41 PM | Report abuse

"* Is defeated Dem Alan Grayson plotting a political comeback? He tells ABC News' Top Line that he's taking care to make sure his volunteer and supporter base and political operation don't "atrophy.""

If he had such a good operation wouldn't he have, you know, won?

Posted by: TrollMcWingnut | November 10, 2010 6:42 PM | Report abuse

"All, I'm getting the sense things have improved a bit in the comments section. Is that right?"

Tons better - at least for me. The bannings coupled with Kevin's troll software have improved the environment immensely.

Posted by: schrodingerscat | November 10, 2010 6:43 PM | Report abuse

"I'm getting the sense things have improved a bit in the comments section."

The comments have improved quite a bit, but the posts by Sargent? ... meh.

Posted by: sbj3 | November 10, 2010 6:48 PM | Report abuse

The truth is Obama has been making irrational decisions for two years now.


Obama's campaign is beginning to look more like a manic episode - than anything grounded in reality.


Each individual democrat will have to decide whether to continue to support Obama and his irrational decisions - or to support what is best for the nation.

.

Posted by: OrangeForces | November 10, 2010 6:50 PM | Report abuse

Greg

Everytime you ask about the comments section, you get a bunch of complaints - they have their software now - so the natives should have their kool-aid.

And the natives can also ignore what a majority of the country wants.


.

Posted by: OrangeForces | November 10, 2010 6:52 PM | Report abuse

so if nobody likes the recommendations, we're going with a vat then?

Posted by: sold2u | November 10, 2010 7:19 PM | Report abuse

"so if nobody likes the recommendations, we're going with a vat then"

Yes an excellent option, but only if it applies to products to which value was added offshore.

Posted by: shrink2 | November 10, 2010 7:28 PM | Report abuse

THE DEFICIT COMMISSION

Come on people let's be serious.

The problem is Clinton's Free Trade deals.

The economic problems are STRUCTURAL more than anything else. Jobs that were hanging on before two years ago, are now gone forever.


Forever? Maybe not.

We need to re-negotiate the Free Trade deals - we have to INSIST on balanced trade - so our money is not being used to stimulate other nations - and the jobs stay here.


_________________________________

The Economy

Basically, 5% of the jobs in the country disappeared - we went from 5% unemployment to 10% unemployment.

The major problem with the deficit right now is that 5% - 5% of the economy disappeared. That means that 5% of the income taxes (or the portion of the income taxes which were provided by the 5% has disappeared)

Those revenues go right now the line - those people have less money to buy - which means less sales taxes. If they move, they aren't paying the property taxes they used to. If they aren't going out to dinner, they aren't paying those restaurant taxes like they used to.


The whole thing ripples right down.

So - WE NEED TO ADJUST THE FREE TRADE DEALS.

That will improve our exports, put people back to work, and improve the revenues at all levels of government.


It is simple - too many international corporations give too much campaign contributions - and they just think someone else will pick up the slack on the tax revenues -

Posted by: OrangeForces | November 10, 2010 7:41 PM | Report abuse

Everyone in the guts of the health care industry can't wait for health care "reform". I don't know any insiders worried about any part of it. It is a bonanza.

So I am guessing the Republicans will n-e-v-e-r repeal it, unless there are little pieces that can be carved off of it that won't hurt anyones' cash flow. Because the industry does not want it to be repealed.

The hearings, all the rhetoric, that is called pandering. The largest peacetime, public private collaboration in the history of the world, that is what I am talking about. The American health care industrial complex is bigger than the TP, it is bigger than than Obama/Pelosi/Reid.

The only way America can wring money out of the health care sponge is if they demand both political parties attack the industry, not health care, the industry. Problem is, the industry knows how to put peoples' lives in play. In war, they call that using human shields.

Posted by: shrink2 | November 10, 2010 7:47 PM | Report abuse

THE DEFICIT COMMISSION

Come on people let's be serious.

The problem is Clinton's Free Trade deals.

The economic problems are STRUCTURAL more than anything else. Jobs that were hanging on before two years ago, are now gone forever.


Forever? Maybe not.

We need to re-negotiate the Free Trade deals - we have to INSIST on balanced trade - so our money is not being used to stimulate other nations - and the jobs stay here.


_________________________________

The Economy

Basically, 5% of the jobs in the country disappeared - we went from 5% unemployment to 10% unemployment.

The major problem with the deficit right now is that 5% - 5% of the economy disappeared. That means that 5% of the income taxes (or the portion of the income taxes which were provided by the 5% has disappeared)

Those revenues go right now the line - those people have less money to buy - which means less sales taxes. If they move, they aren't paying the property taxes they used to. If they aren't going out to dinner, they aren't paying those restaurant taxes like they used to.


The whole thing ripples right down.

So - WE NEED TO ADJUST THE FREE TRADE DEALS.

That will improve our exports, put people back to work, and improve the revenues at all levels of government.


It is simple - too many international corporations give too much campaign contributions - and they just think someone else will pick up the slack on the tax revenues -

Posted by: OrangeForces | November 10, 2010 7:51 PM | Report abuse

I think without clear financing rules in the wake of Citizens United, Dems would be smart not to unilaterally disarm. Republicans have laid rules of the field and then folks have no choice but to raise the same way the Repubs do.

I would hope there will be more disclosure, but we didn't make the rules. The Robert Court did that. Dems have no choice but to play by this set of rules or get clobbered everytime.

Posted by: Alex3 | November 10, 2010
-------

LOL. The Republicans forced us to do it. This is actually good news for Republicans. It shows that Dems STILL don't know why they lost the House.

Posted by: Brigade | November 10, 2010 7:53 PM | Report abuse

So, the point is that the deficit is not going to get under control until the Free Trade deals are under control

The Free Trade deals are causing us to lose so many jobs, the resulting loss in tax revenue is almost impossible to make up in other ways.

In addition, all those unemployed people cause the deficit to be larger because they need benefits.


It's Clinton's fault

And Clinton is long gone on the golf course.


AND you wonder what damage Obama has been causing to the economy - just wait and see.

Posted by: OrangeForces | November 10, 2010 7:56 PM | Report abuse

"Yes an excellent option, but only if it applies to products to which value was added offshore."

That is a tariff, not a vat

Posted by: sold2u | November 10, 2010 7:58 PM | Report abuse

shrink2 at 7:47 PM

Thanks for putting health care in terms of "cashflow"

The rest of us "pays" - and the people in the industry makes more money

See why the rest of us want to REPEAL it?

Posted by: OrangeForces | November 10, 2010 7:59 PM | Report abuse

Anyone who thinks there is no difference between voting for Democrats or Republicans, examine the Supreme Court. Case closed.

Posted by: shrink2 | November 10, 2010
-------

Exactly. Unless you want more unqualified snips like Sotomayor and Kagan on the Court, you've got to get these lefties out of the Senate. Notice how "not most qualified" is always used by libs to explain why Clarence Thomas should have been rejected. Contrast his experience with these incompetents Obama has nominated and he looks very, very qualified.

Posted by: Brigade | November 10, 2010 8:01 PM | Report abuse

The Left can only win elections the old fashioned way -

Posted by: filmnoia | November 10, 2010
--------

Like they always have. Lie, cheat, bribe, and intimidate voters. And get more of those dead people to the polls.

Posted by: Brigade | November 10, 2010 8:04 PM | Report abuse

Shrink

The point is clear: the democrats sell out the country so much, there is virtually no difference once they get into office - some set of special interests is getting "their way" with the treasury.


Elections are basically choices between one set of corporate interests and a different set of corporate interests - BOTH are going to RAPE the US taxpayers.


It's not that hard to understand - what is amazing is that adults still try to defend the democrats - when they know perfectly well the democratic corporate interests are worse.

It is hypocrisy.

Posted by: OrangeForces | November 10, 2010 8:06 PM | Report abuse

"That is a tariff, not a vat"

Call it what you want, I think it is a great idea. A flat rate, value added tax on anything bought in this country that had value added offshore. Naptha yes, oil, no.
Plywood yes, logs no. But then there is stuff like Kimchi, which is value degraded. It is complicated, but we could figure it out.

Posted by: shrink2 | November 10, 2010 8:07 PM | Report abuse

"...the SCOTUS Justices who are rather brilliant..."

Not all of them, sorry to say.

Posted by: shrink2 | November 10, 2010
-------

Definitely not the last two. A couple of lowbrainers.

Posted by: Brigade | November 10, 2010 8:07 PM | Report abuse

Your argument is fallacious. You either support the Congress' ability to regulate interstate commerce or you don't and you disagree with the Founders.

Posted by: Ethan2010 | November 10, 2010

-------

Bullsh/t. The interstate commerce clause has been abused and misused to allow the Feds to do pretty much whatever they want. It seems the Supreme Court is about as power hungry as any other branch of government. I don't think this Court is any more conservative than the one which recently stuck its nose into California's medicinal marijuana law. The court was concerned with how the California law might effect the interstate commerce of marijuana. LOL.

Posted by: Brigade | November 10, 2010 8:14 PM | Report abuse

Dana Milbank is acting like a little girl

.

Posted by: OrangeForces | November 10, 2010 8:16 PM | Report abuse

Thanks for clearing that up Ethan. Glad your comfortable with this interpretation, that didn't exist until 1942, that you ascribe to the founding fathers. Does this mean I have to destroy my tomato plant?


Posted by: TrollMcWingnut | November 10, 2010
-------

The same decade to which the current understanding of the "wall of separation" between church and state dates. Amazing how it took until the middle of the twentieth century to find what the Constitution really says about everything.

Posted by: Brigade | November 10, 2010 8:19 PM | Report abuse

@oc:It's not that hard to understand - what is amazing is that adults still try to defend the democrats - when they know perfectly well the democratic corporate interests are worse.

It is hypocrisy.

====
At least the dems want the serfs better fed and clothed.

And the dems aren't in thrall to those that believe that women can't control their own reproductive choices, gays can't be full participants in our society, and that the US should be some kind of christian theoracy.

Posted by: srw3 | November 10, 2010 8:20 PM | Report abuse

"serfs" ???

hmmm

Posted by: tao9 | November 10, 2010 8:29 PM | Report abuse

I enjoyed your post about a carbon tax. Everyone should look into the scheme you posted, it's called "Cap and Dividend". There is a carbon tax on all fossil fuels but the money collected is distributed amongst consumers. I think it's a great idea for a bunch of reasons.

Posted by: Ethan2010 | November 10, 2010
--------

This gets my vote for howler of the day.

This is a test: all those who think the government would actually give this money back to you after they'd taken it, raise your hands and adjust your tinfoil hats.

Posted by: Brigade | November 10, 2010 8:30 PM | Report abuse

All, I'm getting the sense things have improved a bit in the comments section. Is that right?


Posted by: sargegreg | November 10, 2010 6:36 PM
-------

If you consider getting rid of bernielatham, liam-still, and ru-kidding7 an improvement, then I guess it's worked out. I hope 12BarBlues returns after she's done grieving over her late puppy.

Posted by: Brigade | November 10, 2010 8:34 PM | Report abuse

@Brigade, I stand by my comment:

You either support the Congress' ability to regulate interstate commerce or you don't and you disagree with the Founders.

Maybe you can show me where in the Constitution it says that Congress does NOT have the ability to regulate interstate commerce.

Maybe you need to read Article I, Section 8, Clause 3:

"[The Congress shall have Power] To regulate Commerce ... among the several States"

There you have it.

You can keep your bullsh/t or smoke it in a pipe for all I care.

Posted by: Ethan2010 | November 10, 2010 8:36 PM | Report abuse

Serfs are agricultural workers who have no legal pathway to own the land they work on. We use people in this way, but we are not as bad as the Medieval cultures, because nowadays they can go back where the hell they came from, they are our serfs by choice.

Posted by: shrink2 | November 10, 2010 8:52 PM | Report abuse

For the record, I wholeheartedly support Article 1, Section 8, Clause 3 of the Constitution of the United States of America.

I emphatically do not support Congress itself determining what Article 1, Section 8, Clause 3 means, nor how it is to be interpreted.

Posted by: tao9 | November 10, 2010 9:08 PM | Report abuse

This has to be the "tell" of the day:

This is a test: all those who think the government would actually give this money back to you after they'd taken it, raise your hands and adjust your tinfoil hats.


Posted by: Brigade | November 10, 2010 8:30 PM

Have the righties really lost so much faith in our country ... in our government and become so cynical about everything that they believe that all laws that are passed will be ignored and subverted and that the government is all bad all the time?

Is it really the position of the righties, as told by the Grand Knight Rightie Rushbo, that everything that any liberal ever says is a lie and that all righties should base their entire lives on doing the opposite of liberalism? That twinkies are good for you because the President's wife says they are not ... that global warming is good because the left says it is bad ... Is this really the right's idea of how this country might succeed?


Posted by: pragmaticagain | November 10, 2010 9:13 PM | Report abuse

Anyone want to see Limaugh's private plane? This is an exterior view. The inside? I'll try to find.
http://images.cheezburger.com/completestore/2010/1/6/129072784597300121.jpg

Posted by: bernielatham | November 10, 2010 9:14 PM | Report abuse

Who do you mean "We" kemo sabe?

Posted by: tao9 | November 10, 2010 9:17 PM | Report abuse

Is this what you righties want?

Incoming Chief of Staff to Tea Party Rep.-elect Allen West calls Speaker Pelosi "garbage."

http://www.talkingpointsmemo.com/archives/2010/11/long_couple_years.php?ref=fpblg

Yeah yeah, I know, people called George Bush names, they called Dick Cheney names ... but really ... isn't this too far?

Posted by: pragmaticagain | November 10, 2010 9:18 PM | Report abuse

"Have the righties really lost so much faith in our country ... in our government and become so cynical about everything that they believe that all laws that are passed will be ignored and subverted and that the government is all bad all the time?"

You need to get out more. Rich people good, gubmint bad. Poor people bad, rich people good. Gubmint bad, rich good. Now don't f/ck up again and question the way things are. Next thing you'll be questioning God's plan. Sometimes I wonder if the First Amendment was worth it.

Posted by: shrink2 | November 10, 2010 9:21 PM | Report abuse

Of course, there's still those darned bailouts that the right says are ruining our country too:

A week before its initial public offering, General Motors reported its largest quarterly profit in 11 years on Wednesday.

http://www.nytimes.com/2010/11/11/business/11auto.html?_r=1&hp

But, hey, saving GM was all about payoff to the unions, right?

Three years ago, G.M. needed to sell nearly four million vehicles a year in the United States to break even, but today, it can be profitable at roughly half that sales volume, Mr. Liddell said in the video. Hourly labor costs have been cut by more than two-thirds, to $5 billion, from $16 billion in 2005, he said.

http://www.nytimes.com/2010/11/11/business/11auto.html?_r=1&hp

Posted by: pragmaticagain | November 10, 2010 9:25 PM | Report abuse

And while the government still will probably lose some money in its heroic effort to save thousands of American jobs and a not so small slice of our pride and history:

The Treasury Department already has recovered $7.4 billion from G.M., including interest and dividends, and is slated to get a $2.1 billion more after the offering, from a deal in which G.M. has agreed to repurchase preferred shares held by the Treasury.

http://www.nytimes.com/2010/11/11/business/11auto.html?_r=1&hp

Posted by: pragmaticagain | November 10, 2010 9:29 PM | Report abuse

Rush's plane has a bidet. A kitchen with a cappuccino chef. And a commercial grade pizza oven. And a medicine cabinet in the ornate bedroom.

Posted by: bernielatham | November 10, 2010 9:34 PM | Report abuse

Serfs are agricultural workers who have no legal pathway to own the land they work on.

You missed the essential point about serfs--they are owned as the land is owned. They are bound to the land and the land owner, just a small step above complete slavery, although in practice there was little difference.

We use people in this way, but we are not as bad as the Medieval cultures, because nowadays they can go back where the hell they came from, they are our serfs by choice.

WE are bound to the corporations we work for (often because of health insurance that is not transferable, affordable, or even available) is somewhat the same way, especially in this job market.

Still I think that the democratic plutocrats are 5-10% less committed to screwing the rest of the population (if only to remain more popular...) than the "tax cuts don't affect the deficit" crowd...

Posted by: srw3 | November 10, 2010 9:36 PM | Report abuse

National Security

The Missile off of California has to be a missile launched from a submarine.

If that is true, it is North Korea or Iran.


I would guess it is North Korea - Obama went to South Korea for a meeting and this could be a way to get attention.


This is serious.

It really is.

Posted by: OrangeForces | November 10, 2010 9:39 PM | Report abuse

"the government still will probably lose some money in its heroic effort"

You try and try, but some people are just slow learners. Ok so we've got a slow learner in sector niner brovo pragmatissue, lets see if you know what words mean....hope you are thirsty...but can you ever have too much water? Ok, try to breathe while we talk, gubmint bad...

Posted by: shrink2 | November 10, 2010 9:40 PM | Report abuse

I am bound neither to corporation nor man.

{{{Ms. Tao is a whole 'nother story.}}}

Posted by: tao9 | November 10, 2010 9:43 PM | Report abuse

"You missed the essential point about serfs--they are owned as the land is owned."

I joked..
We use people in this way, but we are not as bad as the Medieval cultures, because nowadays they can go back where the hell they came from, they are our serfs by choice.

If you can't keep up, don't try.

Posted by: shrink2 | November 10, 2010 9:43 PM | Report abuse

Brigade and Ethan

Brigade is correct. Ethan, again you are being silly.


It is not a question of whether there is a Constitutional provision on interstate commerce.

The question is WHAT is "interstate commerce"


Powers that have traditionally been recognized for 200 years as being the domain of the States - such as health care - can not suddenly become "interstate commerce."


We have 200 years of history here. States ACTING in that area. The Federal government, by inaction, recognizing for 200 years that the States have the powers in health care.


.

Posted by: OrangeForces | November 10, 2010 9:44 PM | Report abuse

@ADN:

-Write-in count shows 98% for Murkowski-

Update, 5:18 p.m.

We just received the full results of today's write in ballot count, and it is looking positive for Lisa Murkowski's campaign.

The Division of Elections reports that it went through the write-in ballots for nearly 20 percent of the precincts in Alaska today.

More than 89 percent of the write-ins were unchallenged for Murkowski.

There were another 8.5 percent of the ballots that were challenged by Miller campaign observers but Division of Elections Director Gail Fenumiai ruled they should be counted for Murkowski. Those challenges could end up being decided in court.

Miller campaign observers successfully challenged only 1.44 percent of the 19,203 ballots that were counted throughout the day.

There ended up being 164 write-in votes for people other than Murkowski.

Two people wrote in Joe Miller.

http://community.adn.com/adn/node/154249

Posted by: Ethan2010 | November 10, 2010 9:45 PM | Report abuse

Uh huh ... gubmint bad ... rich people good. Keep the band playing ... while Rome burns like wood.

Posted by: pragmaticagain | November 10, 2010 9:46 PM | Report abuse

"But, hey, saving GM was all about payoff to the unions, right?"

Yep. Obama didn't want some plain old bankruptcy judge to adjudicate the case, because unions might have had to take a hickey, in accordance with established precedent.

"Three years ago, G.M. needed to sell nearly four million vehicles a year in the United States to break even, but today, it can be profitable at roughly half that sales volume"

Well, when you dump half of your brands, you should be profitable at roughly half the number of cars sold. That isn't any great accomplishment in of itself.

____________________________________

I have been saying that school is still out with the GM bailout. Given that the government rolled over the senior secured bondholders in favor of the unions, they have created an issue for GM when that debt starts maturing.

Nobody is going to be dumb enough to lend to GM at senior secured rates (typically 50 - 100 bp less than senior rates) given what Obama did to the senior secured bondholders. Seniority is meaningless. (As an aside, I am dying to read THAT risk factor in the prospectus... Risk Factor #1: Your rights as a creditor may be summarily dismissed by the President and you may be deemed to be junior to other classes of creditors.)

Anyway, since this will be a "fool me twice" situation, GM will be forced to compete with Toyota and Ford at a higher cost of capital. Probably won't work out, unless (a) the government backstops the senior secured debt, effectively making it sovereign debt, or (b) Obama figures out a way to stuff the Illinois Teacher's Pension Fund with all that crappy paper. But either way, the book has not been closed on GM.

Posted by: sold2u | November 10, 2010 9:48 PM | Report abuse

"You need to get out more. Rich people good, gubmint bad. Poor people bad, rich people good. Gubmint bad, rich good. Now don't f/ck up again and question the way things are. Next thing you'll be questioning God's plan. Sometimes I wonder if the First Amendment was worth it. "

Government isn't giving the money back that it takes? Does this mean Republicans think the government is running a surplus?

Posted by: DDAWD | November 10, 2010 9:48 PM | Report abuse

I don't claim to be an expert on the details of the GM bankruptcy but I'm pretty sure that a Chapter 11 reorganiztion was approved by the parties as well as by a plain old bankruptcy judge.

But, again, I forget, gubmint bad, rich people (and bondholders) good.

Sorry shrink.

Posted by: pragmaticagain | November 10, 2010 9:56 PM | Report abuse

"If you can't keep up..."

You need to Gogol it.

Posted by: tao9 | November 10, 2010 9:57 PM | Report abuse

Also ... gubmint bad ... big bankers good --

"Separately, G.M. confirmed in a filing to the Securities and Exchange Commission that it had removed one of the underwriters for its public offering, because an employee of the bank distributed an “unauthorized e-mail” containing information about the offering. G.M. did not identify the bank, but UBS is no longer listed as an underwriter on G.M.’s amended registration forms. G.M. said that the e-mail might violate S.E.C. rules"

Who wants to bet that someone gets a big bonus for that email.

Posted by: pragmaticagain | November 10, 2010 10:02 PM | Report abuse

"I don't claim to be an expert on the details of the GM bankruptcy but I'm pretty sure that a Chapter 11 reorganiztion was approved by the parties as well as by a plain old bankruptcy judge."

After he threatened to sic the DC Press Corps on any senior secured creditors who wanted their day in court.

Tell you what, would YOU lend to GM at LIBOR + 25 basis points after what has happened? Didn't think so.

Posted by: sold2u | November 10, 2010 10:05 PM | Report abuse

"If you can't keep up..."
You need to Gogol it.

Nice.

Posted by: shrink2 | November 10, 2010 10:22 PM | Report abuse

"...the government backstops the senior secured debt, effectively making it sovereign debt, or (b) Obama figures out a way to stuff the Illinois Teacher's Pension Fund with all that crappy paper. But either way, the book has not been closed on GM."

This is hilarious. You get rid of the trolls and smart people make jokes larded with the brutality of reality. Or is it brutal reality larded with jokes, either way, my favorite.

Posted by: shrink2 | November 10, 2010 10:32 PM | Report abuse

"Murkowski can kiss my %*$#! and I #^@$~* more than Miller"

Is that a vote for?

Finally now we get to see pictures of people adjusting their reading glasses so better to interpret voter intent.

"Gail Fenumiai, right, director of the Alaska Department of Elections, examined one with Sarah Felix, assistant attorney general." NYT



Posted by: shrink2 | November 10, 2010 10:56 PM | Report abuse

This should be funny in a ridiculous sort of way, except it's not. The banks strike again. It's beginning to look like what they do best is look for every opportunity to rip their customers off. Now they're involved in a mortgage insurance scheme which explains why JP Morgan halted some foreclosures this week.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

"$7,100 is an insanely enormous amount of money for a loan servicer to make on a single property: the average loan servicer makes just $51 per loan per year. And of course it’s not the servicer paying that $33,000 insurance premium — that money is ultimately paid by the investors who bought the loan. Those investors are, understandably, not happy.

There are lots of variations on the force-placed insurance scam. For instance, JPMorgan Chase buys overpriced insurance from a third-party insurer, which then reinsures the property with JPMorgan Chase. This is doubly evil: it not only means that investors are paying far too much money for the insurance, but it also means that, as both the servicer and the ultimate insurer of the property, JPMorgan Chase has every incentive not to pursue claims on the houses it services. Investors, of course, would love to recoup any losses from the insurer, but they can’t bring such a claim — only the servicer can do that."

http://blogs.reuters.com/felix-salmon/2010/11/09/the-force-placed-insurance-scandal/

Posted by: lmsinca | November 10, 2010 10:59 PM | Report abuse

"It's beginning to look like what they do best is look for every opportunity to rip their customers off."

Stop trying to make all the American losers envy America's achievers. That is class warfare, which is supposed to be really bad.

Skippy knows better, these grifters are the people with the "nerve" to be more successful than you.

Posted by: shrink2 | November 10, 2010 11:49 PM | Report abuse

Few people want to evaluate Obama

Few people want to defend Obama


It is amazing, two years ago, all one heard was FAWNING over Obama, and how great he was.

NOW - there is silence.


The democrats who talked up Obama have become a bunch of crickets. It really is pathetic.


.

Posted by: OrangeForces | November 11, 2010 12:15 AM | Report abuse

Shrink

For a shrink, your lack of self-awareness is amazing. You do not realize you are a troll ?

.

Posted by: OrangeForces | November 11, 2010 12:49 AM | Report abuse

Powers that have traditionally been recognized for 200 years as being the domain of the States - such as health care - can not suddenly become "interstate commerce."
------------------------------
Haha...the old "if you don't use it you lose it" argument. Good luck with that in front of the SCOTUS.

Posted by: ashotinthedark | November 11, 2010 7:59 AM | Report abuse

DIRTY LITTLE SECRET


Do you know why more people are not complaining that the stimulus did not create more jobs???

Because it did create jobs....


............ in China.


The Corporate Interests of the democratic party are MORE THAN HAPPY WITH THE STIMULUS.


The international corporations which supply Obama and the democratic party with contribution are happy with the results of the stimulus. Their factories in China have been saved - and their trade deficits are being saved. The corporate profits have been saved. That is all that Obama cares about. All the campaign contributors have been taken care of.

.

Posted by: OrangeForces | November 11, 2010 7:59 AM | Report abuse

All, Morning Roundup posted:

http://voices.washingtonpost.com/plum-line/2010/11/the_morning_plum_129.html

Posted by: Greg Sargent | November 11, 2010 8:39 AM | Report abuse

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