Tuesday, September 15, 2009

What's for lunch?

David Frum muses on why Bush's economic record during the span of his tenure is so bad: healthcare.

GQ has an interesting piece on what it was like to be in the Oval Office last fall when the collapse was taking shape.

The managing editor of Fortune magazine goes after the government and the financial sector, calling what is going on as knowing what number and color to call at the roulette table.

SERWER: I mean, it's amazing to me that as we recover, you know, come out of this financial crisis, you know, you'd expect a company like Goldman Sachs maybe things are improving, make a little money. But they have a record quarter. In other words, they made more money in this three month period than they ever had in any other--


SCARBOROUGH: [archly] But they just made some good guesses, right?

SERWER: Well, I don't know if it's okay or not, but I think what happened is that the government has telegraphed to Wall Street, not only Goldman Sachs but the other firms what it was doing, what was going on, what the program was, and so, essentially, it's like telling a Goldman Sachs, "Hey, put your money on 32 Black" at the casino, at the roulette wheel. And the thing spins and lo and behold, where does it end up, Joe?

SCARBOROUGH: 32 Black?

SERWER: 32 Black.

Wendell Potter discusses how the health care industry uses non profit PACs to distort information for their own good.

We can break up 'too big to fail'

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