A Chicago Blog

A buddy of mine who is also under-employed emails these comments about the bailout bill that pass over the weekend.
Just reading through this morning - about 20% through but here are some highlights so far:
Section 101 (The Very First Section)
(a) OFFICES; AUTHORITY.—
1) AUTHORITY.—The Secretary is authorized to establish a troubled asset relief program (or ‘‘TARP’’) [...]

Every day without a bailout deal is just more proof that we don’t need a bailout. I signed this petition and you should too. NO CASH FOR TRASH.

On the $700 billion bailout of the investment banks, the Trib reports:
… it appears increasingly likely the package will contain more oversight for those buying the distressed assets; limits on executive compensation for companies participating in the program; language providing taxpayers an equity stake in some of the transactions; and perhaps a provision allowing bankruptcy [...]

James Oliphant at the Swamp posts today about withering support for Secretary Paulson’s plan to bailout the investment industry. He quotes Richard Shelby of Alabama asking the fundamental question: “Once again, what troubles me most is that we have been given no credible assurances that this plan will work. We could very well spend $700 [...]

Capitol Fax is reporting on a new Rasmussen Poll that shows Rod Blagojevich doesn’t have many friends in the voting public, as if we didn’t already know that. According to Rich, Rasmussen asks who is to blame for Illinois Democrats fueding:
Blagojevich 54% (41% of Democrats)
Madigan 16% (22% of Democrats)
Not sure 30% [...]

… politician have nothing to say about it. Barack Obama released this fascinating statement this morning:
Given the gravity of this situation, and based on conversations I have had with both Secretary Paulson and Chairman Bernanke, I have asked my economic team to refrain from presenting a more detailed blue-print of how an immediate plan might [...]

I disagree with the notion that McCain selecting Palin was a matter of “identity politics.” Sure Palin brings a little extra female interest with her selection, but I’m not sure that was the primary benefit that drove McCain to select her.
We’re living in a new era of political campaigning, begun in 2000 and perfected in [...]

DivisionStreet has put together a compendium of Palin news coverage from before she was VP. It is interesting to see how the narrative of Palin as attractive Alaskan reformer took shape.

I know they make a living making fun of people, and since Sarah Palin is in the limelight she’s fair game. But do you ever remember the late night guys having this much fun with Obama? Why is that?
Eric Zorn has a list of Sarah Palin jokes culled from Leno, Letterman, O’Brien et al. Some [...]

I’m sure this Salvia stuff is really bad for you. And we should question whether or not it should be legal for minors. But come on, do we really need one more illegal drug? A lot of good that did for Ecstasy, LSD, Cocaine, and Marijuana. We’ll just give the gangs one more source of [...]