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Archive for February, 2009

More Bad Economic News

by Doug Mataconis @ Friday, February 27th, 2009. Tags:
Filed under Credit Crisis, Economics

The fourth-quarter downturn was worse than originally thought:
The economy at the end of last year contracted at a far faster rate than initially estimated, a government report released Friday said.
The decline in the country’s gross domestic product — a measure of a country’s total output of goods and services — in the last quarter of [...]

Ron Paul Takes On Paul Volker

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Credit Crisis, Economics, Politics, Ron Paul

Yesterday, Paul Volker appeared before the Joint Economic Committee and had this fun little exchange with Ron Paul:

Citigroup: Soon To Be The Fourth Branch Of Government

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Credit Crisis, Economics, Politics

The United States now has a 40 percent stake in Citigroup:
In its most daring bid yet to stabilize Citigroup, one of the nation’s largest and most troubled financial institutions, the Treasury Department announced on Friday that it would vastly increase its ownership of the struggling company.
After two multibillion-dollar lifelines failed to shore up Citigroup, the [...]

What Bobby Jindal Should Have Said

by Doug Mataconis @ Friday, February 27th, 2009. Filed under General

James Antle provides an alternate script for the Louisiana Governor’s response Tuesday night:
My fellow Americans, before enumerating my many disagreements with the policies outlined by the president, let me acknowledge why we had a Democratic president standing before a Democratic-controlled Congress tonight. The Republican party – my party – lost its way. In doing so, [...]

Dead Tree Media Death Watch: Bad Ideas Edition

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Business, Internet, Media, Technology

The owner of Long Island’s Newsday thinks it knows how to survive in the Internet age:
NEW YORK, Feb 26 (Reuters) – Cablevision Systems Corp (CVC.N) plans to charge online readers of its Newsday newspaper, a move that would make it one of the first large U.S. papers to reverse a trend toward free Web readership.
Newsday, [...]

Obama To Bring (Not All Of) The Troops Home

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Barack Obama, Foreign Affairs, Iraq, Politics

Later today, President Obama will announce his plans for the American troops in Iraq, and it’s getting more praise from Republicans than Democrats:
WASHINGTON — President Obama won crucial backing on Thursday for his Iraq military withdrawal plan from leading Congressional Republicans, including Senator John McCain, the party’s presidential nominee, who spent much of last year [...]

An Alternate Ending To Back To The Future

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Humor, Movies

And one that respects the laws of physics, and the whole idea that movement through time also means movement through space:

Found via Twitter

Facebook Transparency

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Facebook, Internet, Technology

Facebook is announcing a new approach to policy changes:
A week after its community erupted in protest over changes to its terms of service that appeared to give it control over its users’ information, Facebook announced on Thursday that all significant policy changes on the site will be subject to comments from members and, if they [...]

The Stimulus, Explained To Children

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Barack Obama, Credit Crisis, Economics, Politics

The kids aren’t happy we’re spending their money:

Fidelity Chairman Blasts New Deal II

by Doug Mataconis @ Friday, February 27th, 2009. Filed under Barack Obama, Credit Crisis, Economics, Politics

The man at the head of one of the biggest investment houses in the world isn’t too thrilled with what’s coming out of Washington these days:
Fidelity’s Edward “Ned” Johnson jumped into the controversial debate over President Obama’s “New Deal II” and what Johnson called government “make-work projects.”
Without naming names, Johnson praised the administration’s effort to [...]

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