( Mr. Happy, Stephon Marbury of the N Y Knicks is not wasting away in Margarittaville, but rather Purgatory. Photo courtesy of AP.)
Brilliant NYT Op-Ed piece by Frank Rich shows how bipartisan cronyism caused the biggest financial crisis since the Great Depression "It’s a sad snapshot of our century’s establishment that Rubin has been an economic adviser to Barack Obama and Gramm to John McCain. And that both captains of finance remain unapologetic, unaccountable and still at their banks, which have each lost more than 70 percent of their shareholders’ value this year and have collectively announced more than 90,000 layoffs so far"
Excellent quick look at why America is only half-way through the Housing Crash and only in the 3rd inning of the Asset Bubble Crash: CBS 's 60 Minutes: New Wave of Mortgage Adjustments Could Force More Homeowners to Default (video and transrcipts from last night's investigative piece)
As bailout falters, US Government benefits from Treasury sales
Ex-World Champion chess player, Garry Kasparov, launches liberal uniting movement called "Solidarity" in Russia. 90-130 of supporters arrested in street demonstrations over the weekend
Only 9 more days before we are obliterated! Leeland Freeborn and 12 other survivalists hunkering down in Utah as Freeborn "Prophet" predicts nuclear annihilaton. Let's hope the women following this charlatan will "Run, Forrest, Run" when the country isn't vaporized on Chirstmas Day
Oil rises to $47 a barrel overnight as OPEC prepares for production cuts this week
Business Week blogger on Ponzi Nation: “The largest Ponzi scheme in the history of the capital markets is the relationship between failed mortgage lenders and investment banks that securitized the risky overpriced loans and sold these packages to other investors—a Ponzi scheme by every definition applied to Madoff. These and other related deeds led to the largest global credit meltdown in the history of the world.”
Global Economy: The world was told the U.S. was a low-risk, high-return investment. But like the Wall Street trader Bernie Madhoff's victims, we are learning the truth
Bush makes surprise visit to Afghanistan to pump up troops's morale
Washington D.C.'s transit system may collapse during Obama's inauguration
Tens of thousands of Muslim pilgrims move around the Kaaba, the black cube seen at center, inside the Grand Mosque, during the annual Hajj in Mecca, Saudi Arabia, Tuesday, Dec. 9, 2008. (AP Photo/Hassan Ammar) #2 out of 41 photos (click on image to enlarge)
Alan Taylor's Big Picture Blog gives us 41 photos of the Hajj and the Eid al-Adha
Barron's interviews Stephanie Pomboy who feels the US will go through an extended period of paltry economic growth, akin to what Japan went through from 1990 to the present.
Complex auto industry has tentacles reaching into every community in the USA
McCain scolds Republicans for fanning the Illinois scandal and trying to tie it to Obama
Global warming is the ticking time bomb Obama cannot ignore
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