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Weekend News Digest

Weekend News Digest is an Open Thread

From Yahoo News Top Stories

1 Treasury’s toxic asset plan could cost $1 trillion

By MARTIN CRUTSINGER, AP Economics Writer

1 hr 13 mins ago

WASHINGTON – The Obama administration’s latest attempt to tackle the banking crisis and get loans flowing to families and businesses rely on a new government entity, the Public Investment Corp. to help purchase as much as $1 trillion in toxic assets on banks’ books.

The plan that Treasury Secretary Timothy Geithner intends to announce Monday aims to use the resources of the $700 billion bank bailout fund, the Federal Reserve and the Federal Deposit Insurance Corp.

The initiative will seek to entice private investors, including big hedge funds, to participate by offering billions of dollars in low-interest loans to finance the purchases and also sharing risks if the assets fall further in value.

Weekend News Digest

Weekend News Digest is an Open Thread

From Yahoo News Top Stories

1 Activists protest bonuses at AIG executives’ homes

By JOHN CHRISTOFFERSEN, Associated Press Writer

23 mins ago

FAIRFIELD, Conn. – A busload of activists – outnumbered 2-to-1 by reporters and photographers – are paying visits to the homes of American International Group Inc. executives in Connecticut to protest tens of millions in bonuses awarded by the company.

About 40 protesters parked at a cul-de-sac Saturday afternoon and walked to the Fairfield home of Douglas Polling. They were met on the curb by two security guards, and one activist read a letter detailing the financial struggles that many Connecticut residents have faced. The group then left the note in Polling’s mailbox.

Polling already agreed to forfeit his bonus, but the protesters want AIG executives to do more to help working families.

Battlestar Galactica Finale

Liveblogging!

I’m so totally playing hooky tonight.

It’s too distracting to concentrate on anything else except spring cleaning which I really need to do to clear the decks for action.  I’ve given up on being very productive this evening.

Here’s a Wikipedia list of all the previous episodes including the survivor rates which I always thought was a very cool feature and meant to save.

This is the general Wikipedia treatment of BSG.

I don’t pretend to be the greatest trivia expert on it.  I’ve felt that until Sometimes a Great Notion and No Exit I had no frakkin’ clue where they were headed.  Even now rewatching all this cutesy music nonsense (that was just plain ridiculous in Crossroads) I’m almost certain it will be hugely disappointing.

I felt that way about Moonlighting and Xena for instance (Cybill on the other hand was satisfactory).

The space below is for your scribbles.

The Stars Hollow Gazette

My name is Roger Smith. I perform a much needed job here in this city of amnesia.

Frequently in The Stars Hollow Gazette I wander down the lanes of my memory to dredge up a tidbit or two for your amusement.

Recently digby and Greenwald point out that no city on earth is as anxious to forget the past as Washington D.C.

Why is that do you suppose?

Wednesday Morning Science Supplement

Wednesday Science Supplement is an Open Thread

From Yahoo News Science

1 Walking, talking female robot to hit Japan catwalk

By YURI KAGEYAMA, AP Business Writer

Mon Mar 16, 10:14 am ET

TSUKUBA, Japan – A new walking, talking robot from Japan has a female face that can smile and has trimmed down to 43 kilograms (95 pounds) to make a debut at a fashion show. But it still hasn’t cleared safety standards required to share the catwalk with human models.

Developers at the National Institute of Advanced Industrial Science and Technology, a government-backed organization, said their “cybernetic human,” shown Monday, wasn’t ready to help with daily chores or work side by side with people – as many hope robots will be able to do in the future.

“Technologically, it hasn’t reached that level,” said Hirohisa Hirukawa, one of the robot’s developers. “Even as a fashion model, people in the industry told us she was short and had a rather ordinary figure.”

The Stars Hollow Gazette

The Wearing Of The Green
O Paddy dear, and did ye hear the news that’s goin’ round?

The shamrock is by law forbid to grow on Irish ground!

No more Saint Patrick’s Day we’ll keep, his color can’t be seen

For there’s a cruel law ag’in the Wearin’ o’ the Green.

I met with Napper Tandy, and he took me by the hand

And he said, “How’s poor old Ireland, and how does she stand?”

“She’s the most distressful country that ever yet was seen

For they’re hanging men and women there for the Wearin’ o’ the Green.”

So if the color we must wear be England’s cruel red

Let it remind us of the blood that Irishmen have shed

And pull the shamrock from your hat, and throw it on the sod

But never fear, ’twill take root there, though underfoot ’tis trod.
When laws can stop the blades of grass from growin’ as they grow

And when the leaves in summer-time their color dare not show

Then I will change the color too I wear in my caubeen

But till that day, please God, I’ll stick to the Wearin’ o’ the Green.

You can listen to it here.

Monday Morning Business Update

And Late Breaking Open Thread

First Some Old Business

From Yahoo News

AIG Bonuses

1 Insurance giant AIG to pay $165 million in bonuses

By MARTIN CRUTSINGER, AP Economics Writer

Sun Mar 15, 7:55 am E

WASHINGTON – American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.

AIG is paying out the executive bonuses to meet a Sunday deadline, but the troubled insurance giant has agreed to administration requests to restrain future payments.

The Treasury Department determined that the government did not have the legal authority to block the current payments by the company. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history.

Obamanomics

Dear Barack,

American International Group has sold insurance policies without the assets to cover their claims and as a result THEY ARE BANKRUPT!

The policies they issued are WORTH NOTHING AND WILL NEVER BE PAID!

The people who hold them HAVE LOST THEIR MONEY!

Moreover the people who sold those policies ARE CRIMINALS!  They committed INSURANCE FRAUD and should be ARRESTED AND SENT TO PRISON!

If instead your policy and that of your administration is to give them BILLIONS IN BONUSES the American people will justifiably curse your name forever as the quisling who SOLD THEM AND THEIR CHILDREN INTO SLAVERY!

Clearly Geithner and Summers are UTTERLY INCAPABLE of making any progress at all in resolving our financial crisis because they have no ability to control these institutions or gain their cooperation even with the TRILLIONS OF DOLLARS IN BRIBES THEY HAVE ALREADY PAID THESE EXTORTIONISTS!

They must be fired and replaced as must the failed leadership and incompetent managers in all the institutions in which THE UNITED STATES GOVERNMENT HOLDS A CONTROLLING INTEREST WHO DO NOT COOPERATE WITH THEIR SHAREHOLDERS!  Meaning us, the American people, though our elected Representatives including you sir

It’s a little thing called corporate democracy, sir.  One of the foundations of our capitalist system.

I am calling my Congresspeople tomorrow, sir, including Senator Chris Dodd, Chairman of the Banking Committee, and telling them that if they expect my vote in 2010 THEY WILL INVESTIGATE IMMEDIATELY AND TAKE APPROPRIATE ACTION UNDER THE LAW!

And you sir, if you don’t replace Geithner and Summers and change their disastrous policies that benefit only their criminal cronies, you sir will replace your predecessor as THE WORST PRESIDENT EVER, because your failure will be just as great as James Buchanan’s.

Sincerely,

ek hornbeck

Weekend News Digest

Weekend News Digest is an Open Thread

Now with World, U.S. News, and Politics.

From Yahoo News Top Stories

1 Insurance giant AIG to pay $165 million in bonuses

By MARTIN CRUTSINGER, AP Economics Writer

Sun Mar 15, 7:55 am E

WASHINGTON – American International Group is giving its executives tens of millions of dollars in new bonuses even though it received a taxpayer bailout of more than $170 billion dollars.

AIG is paying out the executive bonuses to meet a Sunday deadline, but the troubled insurance giant has agreed to administration requests to restrain future payments.

The Treasury Department determined that the government did not have the legal authority to block the current payments by the company. AIG declared earlier this month that it had suffered a loss of $61.7 billion for the fourth quarter of last year, the largest corporate loss in history.

3 more AIG stories, 3 stories about unrest in Pakistan, and 2 stories about why Jim Cramer and his anti-carbon tax Wall St. buddies better buy themselves some gills along with all the usual stuff below the fold.

Weekend News Digest

Weekend News Digest is an Open Thread

Now with U.S. News

From Yahoo News Top Stories

1 G-20 pledge sustained action on financial crisis

By JANE WARDELL, AP Business Writer

23 mins ago

HORSHAM, England – Finance officials from rich and developing countries pledged to boost the role of the International Monetary Fund and make a “sustained effort” to restore global growth after a key conference that sought to bridge deep divisions on how to tackle the financial crisis.

The key priority must be restoring frozen bank lending through cash infusions and dealing with the shaky assets souring bank’s balance sheets, the gathered finance ministers and central bankers from the Group of 20 countries said in a statement at the end of talks in southern England.

The statement did not back a U.S. push for concrete, coordinated efforts for governments to spend more money to boost their economies. It acknowledged the importance of the stimulus efforts already in place, and called for stronger financial regulation.

Our Dumb Media Part Deux

What dday says

I am a little late to this party, but Howard Fineman’s barbaric yawp on behalf of the political establishment is a truly amazing document. It should be put in a time capsule so that future generations can understand why American politics became so corroded in the late 20th and early 21st centuries. What Fineman appears to be saying is that the public, who elected Barack Obama with the belief that he would fulfill his agenda, supports him in that effort; but that the “establishment,” who is unelected and self-appointed, is very unhappy about all this agenda-fulfilling going on, and that might sink the President. He cites a bunch of data points that I think he picked off of random Twitter feeds from the Gang of 500 to prove his point, but then he admits that they are all contradictory:

What I think is interesting is that all the Beltway types who welcomed George Bush and his gang into the family when he was trading off his 48% mandate and passing humongous tax cuts early in his term have all these doubts and troubles with Barack Obama trying to make good on his campaign promises. But more than that is this mindset that the “establishment” chatterers are the real constituency in this country, and the people on the outside, the chattel, the hoi polloi, the dumb rubes in flyover country, they’re nobody off of which to base a winning electoral coalition. The Village still thinks that the role of the President is to please the Villagers, but public opinion isn’t bearing that out. Congress’ approval has jumped since they passed a stimulus package and health care for kids and equal pay for women. People trust government to fix the economy and not big business – part of the “establishment” in Fineman’s scenario.

You have to see this.

Journalism

So we’re at the point that a comedian has to take a break from fart sounds and funny faces to dish out some journalism.  Because otherwise, there isn’t any?  Journalism, that is.

Jay Ackroyd 07:28

Cramerica

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