I've Got a Fever, and the Only Prescription Is More Trainwreck: The Sarah Palin Round-Up
- On tonight’s episode of My Liberal Friend Katie, Palin took on social issues. No abortion no exception; God created evolution; you can pray the gay away; yada, yada, yada.
- Couric asked Palin three times to name a magazine or newspaper she read regularly to stay informed, and Palin, a journalism major, couldn’t name a single one.
- Hugh Hewitt also had the pleasure of interviewing Palin. I’m not sure if he mentioned the interview wasn’t staying between them. She calls herself a “normal Joe six-pack American.” She questions the ethics of Gibson and Couric for asking her hard questions. She calls Obama’s position on abortion “extreme.” She says that we have nothing “but guidance that we would seek from a Creator.” Oof.
U.S. stocks on Tuesday clawed back from Wall Street’s worst slide in more than 20 years, as investors bet that Washington would still pass a plan to stabilize the U.S. financial sector despite Monday’s defeat.
Sound the Oll Klear? Not just yet.
Andrew Sullivan posted a letter he got from a retired Wall Street advisor who offers two possibilities for the bounce:
1- “Dead Cat Bounce”- After a big daily decline, there is always a reflexive uptick generated by “short Covering” and “buy on the dip “investors.
2- “talk of Optimism”- The news media this morning is talking about another shot at a bailout, albeit a smaller one. Also, do not forget that market does not have all its participants at “at the table”. One thousand financial related shares can not be sold short, yet.
In other words, put the cap back on your bottle of manischewitz and check back tomorrow.
Throw The Bums A Bailout 2008: So Who's Really Responsible for the Death of Us All?
Rep. Barney Frank responded to GOP complaints that a partisan speech by House Speaker Nancy Pelosi just prior to the bailout vote was to blame for the bill’s failure by saying: “…because somebody hurt their feelings, they decide to punish the country. I mean, I would not have imputed that degree of pettiness and hypersensitivity.”
I am having a tough time agreeing with Frank on this. Pelosi may be more correct than humanly possible in saying that the Bush admin’s failed economic leadership is to blame for this crisis, but she should have put the political rhetoric on hold until after the vote.
Then again: go listen to Linkin Park, Republicans. As wrong as Pelosi was at that moment, you’ve been wrong since time immemorial. Laissez-faire just imploded? Deal! Adam Smith is fucking dead. He doesn’t need to worry about making rent.
The Dow Jones Industrial Average plummeted 777.68 points, its biggest one-day drop in history. It ended down 7% at 10365.45, down 9.3% since crisis erupted a few weeks ago on Wall Street following the meltdown of Lehman Brothers Holdings. All 30 of the blue-chip indicator’s components fell Monday.
Barack Obama failed to lead, phoned it in, attacked John McCain, and refused to even say if he supported the final bill.
Just before the vote, when the outcome was still in doubt, Speaker Pelosi gave a strongly worded partisan speech and poisoned the outcome.
This bill failed because Barack Obama and the Democrats put politics ahead of country.
As Ben Smith notes: “It’s going to be a hard case to make though. About two-thirds of House Democrats supported the bill. About two thirds of House Republicans — whom McCain had explicitly returned to Washington to work — voted against it.”