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Category Archives: Meltdown!

Looking Out For Number One

All Things Considered ran a story last night on the foreclosure crisis and recent moves for a moratorium. The turned to the problems in Arizona and interviewed someone who hopes to make money off of people getting thrown out of their homes. Our state treasurer, Dean Martin. In some states, public officials, including treasurers, have [...]

Failing to See the Beam in One’s Own Eye Department

I heard some audio from the debate over taxing bonuses paid out by companies that recieved TARP money. Dan Lungren of California made the argument that the tax amounted to a “Bill of Attainder,” which would be unconstitutional. Lungren spoke passionately about not enacting laws just designed to go after one group of people just [...]

Response from Congressman Mitchell

I recieved a statement from Harry Mitchell’s office last night, and I understand that he will have a longer statement later today: Like most Arizonans I am outraged that AIG would hand out extravagant bonuses while receiving taxpayer assistance to keep the company afloat. It is a slap in the face to taxpayers who are [...]

Not So Wild About Harry Today

I went over the roll call vote on the bill to impose a 90% tax on bonuses employees of companies taking stimulus money. It goes without saying that this was in reaction to the huge bonuses being given to the employees of AIG Financial Products, who, if anything, should be giving back their bonuses, business [...]

More Lazy Posting

I grievously stole this from Talking Points Memo. According to them, the picture at the right is of Gerry Pasciucco, who runs AIG Financial Products. The folks at TPM have a good take on his selection of t-shirt: Given how AIGFP helped bring global capitalism to its knees, the choice of t-shirt might suggest a [...]

And Now, Your Moment of Zen…

In case you missed last night’s lucha libre between Jon Stewart and Jim Cramer, TPM has posted it. Once again, I’m pleased at how thoughtful Stewart’s questions were. This thing could have been a snarky shouting match, but instead he laid out an indictment of the failures of CNBC and the entire financial news industry. [...]

Geez Dude, Are You Still Here?

J. D. Hayworth is out of power, but he still has the power to make me embarassed that I live in the state that elected him in the first place: Kind of funny watching him try to out-blowhard Chris Matthews. This is the best these guys can do? UPDATE: Salon’s Scott Bateman has his own [...]

A Return to the Bad Old Days?

Freeport McMorAn Copper and Gold is laying off 1,500 workers from its mine in Morenci. This spurred a series of rumors in the area that the Arizona National Guard would be called in to assist the company for a mass eviction of workers from company housing. My old friend Walter Mares from the Copper Era [...]

Short Take for Monday

I guess the automakers are going hat in hand to the government. It’s too bad that they can’t take out loans in the private sector. Gee, wouldn’t it have been great if someone thought to, I dunno, give billions of dollars to the big banks so that they would be freer to loan money in [...]

It’s a Rescue…or a Bailout…Depends on Your District

For those that have asked…here is the Arizona delegation’s vote on the “rescue package.” The rescue package…you used to get to buy that for those Adventure People figures, right? Jeff Flake (R – Mesa)  – Nay Trent Franks (R – Glendale) – Nay Gabrielle Giffords (D – Tucson)  – Aye Raúl Grijalva (D – Tucson) [...]