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3 CommentsEarlier in the week, Duffy asked to be pointed to some writing that might be in favor of or justify the current bailouts. I haven’t read anything other than fairly glib variations on the “too big to fail” theme, but here is some reading (and listening) of how we got here and some thinking that I had not heard previously:
The NYT Freakonomics blog has a very cogent history of recent events.
Wednesday, Fresh Air had a long interview with Michael Greenberger who explains in clear and riveting detail the shadow economy that is being protected by the current actions of the Fed. Do yourself a favor and listen to all 40, 45 minutes of this. (You can get this as a podcast from iTunes, too, for the next week or 10 days)
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31 CommentsUnstable Isotope pointed us to this draft of the bailout legislation earlier today. Look closely (highlighting mine):
(b) Necessary Actions.–The Secretary is authorized to take such actions as the Secretary deems necessary to carry out the authorities in this Act, including, without limitation:
(1) appointing such employees as may be required to carry out the authorities in this Act and defining their duties;
(2) entering into contracts, including contracts for services authorized by section 3109 of title 5, United States Code, without regard to any other provision of law regarding public contracts;
(3) designating financial institutions as financial agents of the Government, and they shall perform all such reasonable duties related to this Act as financial agents of the Government as may be required of them;
(4) establishing vehicles that are authorized, subject to supervision by the Secretary, to purchase mortgage-related assets and issue obligations; and
(5) issuing such regulations and other guidance as may be necessary or appropriate to define terms or carry out the authorities of this Act.
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11 CommentsI was talking to a NJ Dem Party official a few weeks ago and she told me that the recent one of these held in NJ drew more than 200 people from all over South Jersey. And that this event was not only inspiring, but damned fun. I’m posting the entire invitation below the jump, but this is really an incredible opportunity to get some of the best organizing training in the business — training that would be useful for all of us looking to get more involved in working for more and better Democrats at the local level. And it is just fantastic that this opportunity is coming to Delaware.
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The great Drew Volturo of the Delaware State News reports (sorry no link) about a push poll being used in the 32nd Representative District on behalf of incumbent Donna Stone (R) and against her opponent, Brad Bennett (D):
Details of who authorized the poll and how many residents were called are unclear, but indications from those who received the call are that it could have been a “push poll” — a political campaign technique used to influence a voter by posing negative information about a candidate.
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The [poll] asked about Rep. Stone’s work in passing manufactured housing legislation and whether her presidency of the National Conference of State Legislatures took away from her duties in Delaware[.]
“Then they turned around and started with questions about her opponent,” Ms. Clements [a district resident who received a call] said. “They asked, ‘Did you know the only reason Brad Bennett is running is to help his father- in- law get elected to the Senate?’” Mr. Bennett’s father-in-law is Brian J. Bushweller, a Democrat running for an open state Senate seat against former Dover mayor James L. Hutchison.
Ms. Clements said the pollster also asked if she was aware that Mr. Bennett is running for his dad’s old seat — Edward J. Bennett served 18 years in the House until 1994, when Rep. Stone won the open seat — and that his security company could get more state contracts if he wins in November.
“It was really annoying how they just bashed him,” said Ms. Clements, a registered Republican who said she has voted for Rep. Stone in the past. “It sickened me to the point where I wouldn’t consider (voting for Rep. Stone) this time.”
