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Archive for March, 2009

CBO: Federal Budget Deficit To Be Much Larger Than Anticipated

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Barack Obama, Economics, Politics

Sobering news today from the Congressional Budget Office about the federal budget deficit:
Deteriorating economic conditions will cause the federal deficit to soar past $1.8 trillion this year and leave the nation wallowing in a sea of red ink far deeper than the White House had previously estimated, congressional budget analysts said today.
In a new report [...]

Cherry Blossoms Now Forecast To Arrive Early

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Washington DC

It looks like the warmer weather we’ve been experiencing will cause the Cherry Blossoms to peak earlier than anticipated:
The National Park Service this morning moved up its prediction of the peak blooming period of Washington’s cherry blossoms.
Park Service horticulturalist and blossom forecaster Rob DeFeo said he now believes the blossoms will peak from April 1 [...]

FDIC Penalizes A Bank…..For Not Lending Enough

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Credit Crisis, Economics, Sub-Prime Mortgage Crisis

Apparently, there’s still a penalty for being prudent:
Joseph A. Petrucelli is one of the most cautious bankers in America.
In fact, Petrucelli is so cautious that the Federal Deposit Insurance Corp. recently criticized his bank for not lending enough.
The FDIC’s negative review of East Bridgewater Savings Bank’s loan volume is an anomaly in today’s current banking [...]

Hey, Joe The Plumber, Just Shut Up. Please.

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Dumbasses, Politics, Republicans

Another month, another groan-worthy performance from Wurzelbacher the pundit.
Back in January, he suggested trashing the First Amendment.
In February, he talked about shooting people he disagreed with.
Now, well, you’ve just got to listen for yourself:

The Republican’s Working Man hero Joe the Plumber could barely contain himself last night before a crowd of adoring, media-bashing conservatives.
“God, all [...]

Proof That Geithner Knew About AIG Bonuses Long Before Last Week

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Credit Crisis, Economics, Politics

It’s looking more and more obvious that Treasury Secretary Tim Geithner was lying when he said he didn’t know about the AIG bonuses payments that were made last Friday until March 10th.
Consider this video from a March 3rd Congressional hearing. The speaker is Democratic Congressman Peter Crowley:

Here’s the transcript:
Thank you, Mr. Chairman. Welcome to the [...]

AIG Bonus Rage Meets The Law Of Unintended Consequences

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Credit Crisis, Economics, Politics

It appears that the zeal with which Congress went after the bonuses paid to AIG executives could have an impact far different from what they intended:
Some bank executives warned yesterday that the government is forcing them toward a disastrous choice between accepting restrictions on compensation that could cripple their ability to compete with rivals, or [...]

Geithner Admits Treasury Asked For Bonus Protection

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Barack Obama, Credit Crisis, Economics, Politics

Last night Treasury Secretary Timothy Geithner admitted that it was Treasury Department staff who asked Chris Dodd to include language exempting bonuses in the stimulus bill:
(CNN) — Treasury Secretary Timothy Geithner told CNN Thursday his department asked Sen. Chris Dodd to include a loophole in the stimulus bill that allowed bailed-out insurance giant American International [...]

Ron Paul On The AIG Bonuses, Part II

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Credit Crisis, Economics, Politics, Ron Paul

Ron Paul spoke this morning on the issues surrounding the AIG bonuses and Congresses response to the same.
Other than his assertion that the bill passed yesterday is unconstitutional as an ex post facto law and bill of attainder, which I disagree with for the reasons I stated yesterday, I think he pretty much hits [...]

Virginia Politician Files Lawsuit To Shut Down “Offensive” Blog

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Blogging, Freedom of Speech, Individual Liberty, Virginia, Virginia Politics

One of the Democratic candidates for Lt. Governor is taking some rather unusual legal steps against a Hampton Roads blogger:
Hurling homophobic and racial slurs, an unidentified blogger has launched an Internet attack on lieutenant governor candidate Pat Edmonson.
Campaign officials said the barbs began with e-mails sent in recent weeks and have migrated to an anti-Edmonson [...]

Obama Does The Tonight Show

by Doug Mataconis @ Friday, March 20th, 2009. Filed under Barack Obama, Politics, Television

Acting more like a pop star promoting a new album than President of the United States, Barack Obama appeared on The Tonight Show last night:
BURBANK, Calif. — When late-night television features a sitting president, it’s usually as material for a stand-up routine. But on Thursday, President Obama toppled another barrier when he tried to sell [...]

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