Tuesday, September 30, 2008
Monday, September 29, 2008
Here's a beaut of a story on executive compensation from the Los Angeles Times.
As Congress argues over limits on executive pay, the New York Times reports that the chief executive of Washington Mutual, who was on the job just 17 days, is eligible for $19.1 million in compensation.
For short-time CEO Alan H. Fishman -- named to run the failing bank less than three weeks ago -- that would work out to $1.12 million per day (assuming he worked weekends). If he worked eight-hour days, it works out to $140,000 per hour.
Here's the kicker: Fishman didn't even broker the deal to find a buyer when WaMu failed and was seized by the government; the federal government reportedly arranged the purchase by JPMorgan Chase & Co., and closed the deal while Fishman was in midair, flying from New York to Seattle.
Saturday, September 27, 2008
I didn't know how it would be perceived - I am so biased that I thought I had to be fair to Senator McCain and I called it a tie. Other folks are not being so kind. Polls taken after the debate (search Daily Kos) picked Obama by as many as 10 points. And the pundits are being more harsh. The following also from Daily Kos...
Eugene Robinson, Washington Post:
Here’s the politically incorrect way of phrasing one of the central questions about tonight’s presidential debate: Did John McCain come across as too much of a grumpy old man?
That might not be a nice question, but it’s an important one. Americans like to vote for the nice guy, not the grumbling prophet of doom. Throughout the 90-minute debate, McCain seemed contemptuous of Obama. He wouldn’t look at him. He tried to belittle him whenever possible -- how many times did he work “Senator Obama just doesn’t understand” into his answers? His body language was closed, defensive, tense. McCain certainly succeeded in proving that he can be aggressive, but the aggression came with a smirk and a sneer.
"Tonight Barack Obama displayed beyond a doubt that he understands both the gravity of the financial crisis facing America, and the challenges we face in Iraq and around the world. Senator McCain offered only more of the same failed policies of the Bush Administration. America deserves better.
"I stood next to Barack Obama in 22 debates and tonight epitomized why millions are joining me in standing with him and working hard to ensure he is the next President of the United States."
From Bob Gieger
Late night humor on McCain and Palin. Click the link to read some more.
"McCain showed up [in D.C.] without Sarah Palin, which is a shame because she actually has a lot of banking and financial experience. She lived right next to a bank. ... Sarah Palin was in New York at the U.N. to meet world leaders. Previously, her world experience has been limited to visiting the Epcot Center in Orlando."
Bill at Daily Kos.
Friday, September 26, 2008
The rule of our government is that churches that endorse candidates are subject to losing their right to exist tax free. If that were a different President in office, they might have a problem. But with Bush still holding down the fort, I'd guess that nothing will get done. (In my own opinion, churches should pay taxes anyway.)
From the New York Times...
Ministers to Defy I.R.S. by Endorsing Candidates
Defying a federal tax law they consider unjust, 33 ministers across the country will take to their pulpits this Sunday and publicly endorse a candidate for president.
They plan to then send copies of their sermons to the Internal Revenue Service, hoping to provoke a challenge to a law that bars religious organizations and other nonprofits that accept tax-deductible contributions from involvement in partisan political campaigns.
The protest, called Pulpit Freedom Sunday, was organized by the Alliance Defense Fund, a consortium of Christian lawyers that fights for conservative religious and social causes. When the fund first announced the protest this year, it said it planned to have 50 ministers taking part. As of Thursday it said it had hundreds of volunteers, but had selected only 33 who were fully aware of the risks and benefits.
Conservatives, the strongest voice in the Republican Party, are starting to turn on Sarah Palin. Will she be listening?
The following is clipped from an intriguing post on CNN's "Ticker" website. I think these posts turn over regularly, so here's a link to the original blog post as well.
Prominent conservative columnist Kathleen Parker, an early supporter of Republican VP candidate Sarah Palin, said Friday recent interviews have shown the Alaska governor is "out of her league" and should leave the GOP presidential ticket for the good of the party.
It was fun while it lasted," Parker writes. "Palin’s recent interviews with Charles Gibson, Sean Hannity, and now Katie Couric have all revealed an attractive, earnest, confident candidate. Who is clearly out of her league."
Palin's interview with Couric drew criticism when the Alaska governor was unable to provide an example of when John McCain had pushed for more regulation of Wall Street during his Senate career. Palin also took heat for defending her foreign policy credentials by suggesting Russian leaders enter Alaska airspace when they come to America. Palin was also criticized last week for appearing not to know what the Bush Doctrine is during an interview with Charlie Gibson.
“If BS were currency, Palin could bail out Wall Street herself," Parker also writes. "If Palin were a man, we’d all be guffawing, just as we do every time Joe Biden tickles the back of his throat with his toes. But because she’s a woman — and the first ever on a Republican presidential ticket — we are reluctant to say what is painfully true."
In an effort to keep the U.S. economic problems from spreading, inter-bank loans from the Chinese to the American will be halted. From Reuters - click on the link to read the entire article...
BEIJING, Sept 25 (Reuters) - Chinese regulators have told domestic banks to stop interbank lending to U.S. financial institutions to prevent possible losses during the financial crisis, the South China Morning Post reported on Thursday.