Krugman is wrong - it is worse

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Friday November 20, 2009 · 7:35 AM PST

2009/11/20 · 07:35

So it seemed only fair for them to bear part of the cost of the bailout, which they could have done by accepting a "haircut" on the amounts A.I.G. owed them.

Krugman is arguing that when the taxpayer assumed the liabilities, the Fed could have forced banks to accept something less than 100 cents on the dollar to settle the contracts.

So it seemed only fair for them to bear part of the cost of the bailout, which they could have done by accepting a "haircut" on the amounts A.I.G. owed them. Indeed, the government asked them to do just that. But they said no — and that was the end of the story.

He is missing the point – and is letting the Fed off the hook on this.

He is wrong.

So, bear with me as I explain why.

cynic

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Wednesday September 23, 2009 · 5:00 AM PDT

2009/09/23 · 05:00

We really need your help.

As you may have seen in the newspapers, radio and the intertubes, much of the state of Georgia is underwater. People have lost their homes, cars and other precious things (like children and loved ones, but I know those are not quite as important to you folks...).

But foolishly, they are looking to the Government for help.

Starting with our Governor Sonny 'rugged individualist' Perdue, they are now calling on the Government to help.

That's where we need you John Galts and teabaggers who really, really want the Government out of all our lives.

Please read on.

cynic

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Thursday July 16, 2009 · 12:47 PM PDT

2009/07/16 · 12:47

DO NOT recommend this diary

Please recommend the Mothership diary located here

If you would like to donate your daily diary to this liveblog, please post a reply to this comment in the Mothership diary.

NO PICTURES! They bog down the thread.

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Wednesday July 15, 2009 · 11:17 AM PDT

2009/07/15 · 11:17

DO NOT recommend this diary.

PLEASE RECOMMEND the MOTHERSHIP diary located here.

If you would like to donate your daily diary to this liveblog, please post a reply to the Tip Jar in the MOTHERSHIP diary (not here).

PLEASE REMEMBER: No pictures or embedded videos in the comments. We'd like to keep the liveblog threads loading as quickly as possible for people on dial-up and who can't view videos/pics at work.

Previous child diaries...

1. DefendOurConstitution
2. GreenSooner
3. DemocraticOz

Poll

110 votes Show Results

Who was the most obnoxious repug questioner?

110 votes Vote Now!

Who was the most obnoxious repug questioner?

Sessions

39 votes

Hatch

0 votes

Grassley

0 votes

Kyl

1 vote

Graham

24 votes

Cornyn

1 vote

Coburn

5 votes

All of the above - they were all being jerks anyway

40 votes

Sotomayor Conformation Hearing (Day 2) Child Diary 3

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Tuesday July 14, 2009 · 8:50 AM PDT

2009/07/14 · 08:50

This is the liveblog for the confirmation hearings of Judge Sonia Sotomayor as Associate Justice of the Supreme Court. Judge Sotomayor is testifying today. The hearings began at 9:30 am EDT.

DO NOT RECOMMEND THIS DIARY. PLEASE RECOMMEND THE MOTHERSHIP DIARY.

A Few Rules:

No pictures! - not a one. Some Kossacks may still be working with 9600 baud modems and they will be old enough to put a boatload of hurt on you if you slow them down with pootie pictures.

Please only post transcriptions as replies to the second comment.

New diaries should be posted when the comments are around 200.

Link to the USS Enterprise (so you can do the right thing and rec that up)

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Wednesday June 10, 2009 · 11:38 AM PDT

2009/06/10 · 11:38

Either I don’t know how to use the search facility around here, or we have truly been silent over this:

Sarah Palin visited New York, with her 14 year old daughter and took in a Yankee game. Letterman doesn’t like Sarah Palin.

So, he decided to have some fun.

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Wednesday March 25, 2009 · 6:01 AM PDT

2009/03/25 · 06:01

It is with no regret that I, as a (reluctant) shareholder, accept your your very public resignation from AIG.

In fact, since I know you are a man who appreciates the bottom line, I will go even further:

"Good Riddance"

I don’t know if you want to hear any more, but if you do, follow along here.

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Thursday January 15, 2009 · 6:51 AM PST

2009/01/15 · 06:51

the NY Times is reporting that the FISC which is charged with ruling on the validity of the warrantless wiretapping is expected to rule today that since Congress passed a law allowing it, it is all A-ok to spy on conversations between american Citizens

Poll

45 votes Show Results

Would you buy a cheap encryption software for your cellphone or computer?

45 votes Vote Now!

Would you buy a cheap encryption software for your cellphone or computer?

blkrtsdzxxet

13 votes

Yes

23 votes

9 votes

Why Reducing GrannyDoc’s credit is the smart thing to do

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Monday December 01, 2008 · 3:11 PM PST

2008/12/01 · 15:11

As a taxpayer who has just promised billions of dollars to Citigroup, I have to stand and cheer at what they did with Granny Doc’s credit.

Really.

And it is no disrespect to GrannyDoc or her financial responsibility. If you care to step over the fold, I will explain why.

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Friday November 07, 2008 · 11:55 AM PST

2008/11/07 · 11:55

Anybody? Bueller?

Come on guys, let's get with the program. He is on right now. So far, he has started with 'we awoke to further sobering news....'.

We only have one government, right now, it is led by Bush. Immediately after I become president I am going to take this head on.

(You can see I am trying to get this to 350 characters...)

GA-Sen GA-06 Liveblogging the vote

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Tuesday November 04, 2008 · 5:30 AM PST

2008/11/04 · 05:30

Earliest voter in my precinct (East Cobb) showed up at 4:30. By 6:30, there were about 250 people. Voting was smooth, no real issues yet.

My informal scanning of the lines suggested a fairly strong turnout by young voters. This is white republican country, so I was not surprised to see few African American voters, but definitely more than I have seen in 2006.

Fairly strong turnout of young voters too.

Lines are moving quite smoothly and there are over 20 machines up and running fine.

Took me an hour and change to vote for Obama, but that was the best hour I spent in the last eight years.

cynic

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Wednesday October 15, 2008 · 6:44 AM PDT

2008/10/15 · 06:44

Scene:

Dad driving 7 year old daughter to school. Mara Liasson on NPR is talking about tonights debate

Voice pipes up from the back of the car:

Dad, are we Democrats or Republicans?

Democrats, of course, and proud of it

I am glad. I don’t want to be a Republican

Really? Why?

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Krugman is wrong - it is worse

Calling all John Galts in Georgia

Sotomayor Hearings child (pod, whatever...) #8

[Liveblog] SCOTUS Hearing Child Diary # 4

Sotomayor Conformation Hearing (Day 2) Child Diary 3

Where is the Outrage?

Dear Mr De Santis...

FISA Superior court to validate warrantless wiretapping

Why Reducing GrannyDoc’s credit is the smart thing to do

Liveblog the first press conference

GA-Sen GA-06 Liveblogging the vote

McCain has lost the '7-year-old' demographic