Wonkette
- “Guns blazing, McCain is promising to ride into town to . . . oversee the creation of a commission to study the problem.” [Washington Post]
- Credit default swaps, deleveraging, and other financial terms you never thought you’d have to know until they were suddenly the most important terms in the whole world. [Wall Street Journal]
- Your Distressed-Financial-Institution-and-Hastily-Chosen-Partner-Who-Is-Also-Distressed Of the Day: Morgan Stanley and Wachovia. [Financial Times]
- Yemeni security forces have rounded up 25 suspected militants in connection with the recent bombing of the US Embassy there. [CNN]
- Chris Matthews was right — this financial crisis really is Hurricane Katrina all over again! Four days into the worst crisis since the Depression, President Bush finally notices the markets have gone a little soft. He is expected to fly over Wall Street, looking out sadly over the carnage below. [CNN]
- A new poll shows a diminishing Palin bounce and suspicion that John McCain is just another Washington insider. [New York Times]
DAILY BRIEFING
republican mantra: privatize the public sector, socialize the private sector.
Wachovia is old news. Morgan Stanley is trying to hook up with CIC, a Chinese wealth fund tasked with helping to manage the couple hundred billion dollars in US currency that their government holds in reserve.
Morgan Stanley, the ultimate white shoe investment bank, forced to merge with an already failing commercial bank or be gobbled up by the Chinese.
What were those other signs of the Apocalypse again?
So now Goldman Sachs is the only New York City based investment bank left standing. Cool.
Alas, I’ve lent the Fed my last Liberty Dollar.
Is Bush going to hug a floor trader for the cameras?
So Jon McCain who has liquid assets (beer), will form a Commission to lynch Merrill, while he voted for the deregulation that will result in the Socialist takeover of AIG, Freddie, and Fannie and the formation of the Department of Home and Land Securities?
A strange thing is happening in the polls. For some reason, Obama is leading again.
http://www.realclearpolitics.com/epolls/2008/president/us/general_election_mccain_vs_obama-225.html
Deleveraging + Hedge Fund Management = Greenwich, CN real estate prices cut in half by next week.
Cape Clod: Those bitters are finally starting to get who’s been screwing them all along. I HOPE.
Put your lipstick on and start to shout.
Spout some some lies and shake it all about..
Now you’re doing the Palin Bounce!
Yeah!
“No one knows what to do,” Reid told reporters. “We are in new territory here. This is a different game.” Even Bernanke and Paulson aren’t sure how to fix the system, he said, “but they are trying to come up with ideas.”
Now there’s a statement to inspire confidence.
A “diminishing Palin bounce” ??? She couldn’t have chosen a worse moment for breast reduction surgery.
Your Distressed-Financial-Institution-and-Hastily-Chosen-Partner-Who-Is-Also-Distressed Of the Day: Morgan Stanley and Wachovia.
Seriously… isn’t this a bit like a couple who met at the methadone clinic getting married? You just pray that one or both is infertile.
Delicious: I think he needs to have one of those “I feel your pain” conversations Billz was so good with. There’s nothing like a little sympathy amongst Harvard Biz Skool alums.
naveed: Eh, for the moment. Word is GS is looking to merge with a commercial bank, or take themselves private.
Can’t wait for the silence when Gov. Mooseburger is asked about the Fed and other central banks kicking in 180 billion yesterday. She couldn’t identify the Bush Doctrine and doesn’t know who Bernacke is, other than someone with an odd name who might be a Jew and therefore will be sent to the fiery furnace of eternal damnation along with the other odd religions.
Political Addict: Our position is being overrun by the enemy, our troops are being slaughtered and our women raped and the commanding generals are trying to figure out which end of the gun to point at the bad guys.
And here’s a nice one. Here you go everybody… live vicariously through Chris Matthews.
Heckuva job, Bernanke.
Godless Liberal: Take themselves private? Good luck on lining up financing for that one. That’s gonna take a lot of returnable bottles.
Drudge is trying to spin the e-mail hack as a “dirty trick,” which people will read as Democrat dirty trick. The e-mails revealed were so benign, I’m beginning to wonder if this wasn’t a Republican ploy.
Yeah, yeah. I’ve got teh Crazee.
Time to start learning Chinese so we can communicate with our new overlords…
supremecourtjester: Didn’t Sindee McCrazypills sell the beer? In a related question, is it okay for elitists to drink Budweiser now that it’s Belgian?
Delicious: Lamest. hack. ever. Hacking into an elementary school computer using social engineering puts this little exploit to shame. They should have hacked into her sex dreams… that would be worth looking at.
Get ready for Act II of the Life and Times of Sarah Palin.
The Victimization of Poor Lil Ol’ Sarah: “The MSM Read My Illegal Emails!”
I also saw that gold prices went way up yesterday. I really hate this, mainly because of the kind of people who invest in gold. They always seem to be borderline luddites with severe paranoia.
donner_froh: I’m with you, I don’t know how they’re planning on actually doing that, but it’s supposedly one option being floated. More likely is that they’ll find some suitor and merge with them before the shit hits their fan.
Delicious: Maybe he’ll announce by megaphone that the people who did this to us are going to catch hell.
Q: Please tell me your thoughts about credit default swaps.
A: In what respect Charlie?
(It’s actually a fun game. You can think up questions and then always answer, “in what respect”).
“Rush, did you finish that project I asked you to.” “In what respect?”
“I can hear you, the American people can hear you, and soon, the people who wiped out your 401k will hear from all of us”.
USA USA USA USA USA USA USA
Delicious:
Rather than a Republican ploy, this sort of ties back to Second Life. That Anonymous group that took credit for the hacking is linked to 4chan, which is a group of naughty boys who like to create havok in Second Life.
Imagine a greasy guy, sitting at a computer in his mother’s basement, eating Cheetos, drinking Mountain Dew, and hollering up to Mom to make some pizza rolls.
This is the guy who just gave the Republicans sphincter trouble.
OH GOOD NEWS
Bush is going to speak on the financial meltdown this morning, which will fix everything. Buy stock in Citi, it will be at $200 by the time he is finished talking.
Delicious: Was there ever any doubt this was Republican doing?
Like the fake “Oprah says NO to Palin” trick.
Put all of your money in bling and booze. Because rich crackers will always buy shiny pebbles and expensive liquor. Or just bury your money in the backyard.
I heard Sarah Palin on NPR this morning, asked by a citizen to lay out her foreign policy experience basically said, don’t worry, by January 20 I’ll have that shit down cold.
Serolf Divad: I am not Chris Matthews greatest fan but would give him a big wet kiss (or kick in a couple of bucks to get him a Minneapolis hooker) after he stripped the skin from that McCain spokesman.
“Admit it, dammit. You are a Republican. You drown kittens. You never call your mother. You are a piece of toilet paper stuck to the shoe of history.
magic titty: I thought the fake “Oprah says NO to Palin” trick was run by operatives from Dr. Phil.
Why anyone pays attention to Drudge is beyond me. The only reason he exists is to keep lazy ass hack ‘journalists’ from doing any real reporting. Why leave the office when i can just go to the world’s least visually pleasing news site? Whoever designed that site’s layout should be forced to watch endless re-runs of ‘Full House’.
WadISay: Well, she couldnt really talk, seeing as the first dude had his face in her box at the time.
Terry: Was anyone able to ascertain the whereabouts of one Donald Segretti while all this was happening?
donner_froh: It was nice to see Tweety re-gain his sanity for 5 minutes. I’m sure by tonight, his man-crush for McCain will return in full force. ‘People like the cut of his jib!’
naveed: And most of their people are over here in Jersey City.
If WaMu goes under, can I stop paying my bill?
donner_froh: I thought he was killed by a stingray? Different guy?
Hunter Gathers: About a year ago, in the town in NJ in which I grew up, a guy started to did a patio and ran into the old septic tank. That had to be removed by local law once it was uncovered and in the process several dozen packages of early 1930’s currency was discovered. However, the total will never be counted because all but the iner most bills were decomposed by the corrosive effects of what one usually finds in a septic tank.
Hmm..is the Palin bounce anything like a dead cat bounce?
All hail the next president, John Herbert McHoover.
magic titty: That was the crocodile guy from Australia I think. Dr. Phil is the fat phony psychologist who used to work for Oprah and now published a book every month or so.
Why isn’t anyone talking about McCain not knowing where Spain is?
Botswana Meat Commission FC: Also the Saudis, et al. Same difference.
donner_froh: Right, but all these publicity hording losers all suck equally, dead or alive, and will be treated as such.
Question about the republican party: Do they screw the same pooch over and over again or do they get a new one each time?
grendel:
I know… but gold investing still reminds me of those tacky newspaper ads aimed at old people.
2druk2phluq: No one should drink Budweiser, ever, because it’s lousy, watery beer. On the other hand, Anheuser-Busch
iswas a great unionized employer,maintainsmaintained beautiful old industrial facilities in downtown St Louis, andhashad those nice horsies.V572625694: and had those nice horsies
One of which should feed a small hobo jungle for a few weeks.
donner_froh: Meat is murder!
George Bush doesn’t care about investment bankers
Depending on one of the Keating Five to right financial wrongs is definitely setting a thief to catch a thief. Oh, the irony!
Why is it that every time McGrumpypants has a birthday, a catastrophe of Biblical proportions hits the US? My alarm over what impending crisis will strike on his next one makes me think the Secret Service should arrange an “accident”.
That way, our great nation will be saved, especially if he manages to win the election.
Oh. Wait.