Let us know when you’ve got it figured out.

Well, first I have to get Michele Bachmann’s broomstick.

more from krugman:

What Eichengreen-O’Rourke show, it seems to me, is that knowledge is the only thing standing between us and Great Depression 2.0. It’s only to the extent that we understand these things a bit better than our grandfathers — and that we act on that knowledge — that we have any real reason to think this time will be better.

good to know summers and geithner are being replaced. even it’s by characters from oz.

finally! i can rest easy knowing scarecrow’s dealing with the financial crisis blatant theft. really! she’ll know exactly who to get advice from and what laws to strike up the band for. i’ll do your laundry and clean your bathrooms while you’re busy with our world economy. and cook you delicious healthy food.

We’re not in Kansas anymore.

Has katymine been around?

she was around last night. she said yesterday’s tests showed that the chemo was working. it was excellent news.

Oh, good. Thanks, GW.

Peter Pan might be a better example. Let’s all clap hard and it will all be alright.

drouse formerly known as HelplessDancer

That’s why Ian uses Tinker Bell on many of his economics posts. A little pixie dust will do it.

Your colleague Eric Holder just interviewed by Katie Couric, ‘crow.

What a meeting of the minds!

This sounds like a very good offer.

And he said . . .?

let me know when you start. the offer’s good anytime.

Eli is upstairs at the Mothership!
Fauxlanthropy

” Elizabeth Warren, chief watchdog of America’s $700bn (£472bn) bank bailout plan, will this week call for the removal of top executives from Citigroup, AIG and other institutions that have received government funds in a damning report that will question the administration’s approach to saving the financial system from collapse.

Warren, a Harvard law professor and chair of the congressional oversight committee monitoring the government’s Troubled Asset Relief Program (Tarp), is also set to call for shareholders in those institutions to be “wiped out”. “It is crucial for these things to happen,” she said. ”

http://www.guardian.co.uk/busi…..regulators

Great. We may need a “nobody’s perfect” moment.

Digg is open

How long before Obama gets Congress to fire her? Counting 5…4…3…

I just got back from emptying the dishwasher as Krugman was finishing up on Rachel. Anyone hear what he said?

Rachel — are things getting better?
Krugman — not really; maybe a few things are getting worse more slowly.

Thanks. Sounds about right.

And Rachel made a Zombie Bank joke at the end: BRAAAAAINS!~

Paul laughed.

Warren – truth teller – wonder how long she’ll be allowed to represent the government.

Rachel — are things getting better?
Krugman — not really; maybe a few things are getting worse more slowly.

Actually, having things get worse more slowly *IS* success. I worry that the balloon will pop instead of slowly losing air.

There are certainly plenty of empty (foreclosed on) houses. Do we have any spare tornados?

And so this report hits the news first in the… UK????
Is EVERYONE asleep at the wheel (present company excepted, of course)?

Bob in HI

late to the party.

Scarecrow, have you fixed it yet?

There has to be a reason that Obama has surrounded himself with the very people that have allowed this financial train wreck to take place.

Anyone who skips reading this article will have no excuse when they wake up one day to find our financial system in complete control of the 5 big banks who control Wall Street and our Government:

“At the time Summers was busy opening the floodgates of financial abuse for the Wall Street Money Trust, his assistant was none other than Tim Geithner, the man who today is US Treasury Secretary, while Geithner’s old boss, the self-same Summers, is President Obama’s chief economic adviser as head of the White House Economic Council. To have Geithner and Summers responsible for cleaning up the financial mess is tantamount to putting the proverbial fox in to guard the henhouse.”

http://www.atimes.com/atimes/G…..3Dj02.html

Banks Use Bailout Bucks To Pay Off Dot Com Boom-Bust IPO Lawsuit”

Anyone still question whether or not our system is fraudulent and corrupt to the core? This situation is the equivalent of Geithner, Summers and Obama saying: “take THAT you dumb-ass taxpayers.” The folks who still believe that Obama is here to save us are the same people who will become a part of, as Warren Buffet stated so eloquently about 2 years ago, “a nation of serfs.”

This news release sums it all up. What it fails to mention is that you can seek shelter from the coming collapse with direct ownership of gold and silver bullion.

“Since many of the defendants, including JPMorgan Chase, Goldman Sachs and Morgan Stanley, are still funded with billions of taxpayer dollars, the US taxpayer has effectively been made to pay for the case”

http://www.businessinsider.com/banks-use-bailout-
bucks-to-pay-off-dot-com-boom-bust-ipo-lawsuit-2009-4

Scarecrow,

The Wizard of Oz was about the banking system, Mr. Baum being a supporter of the Free Silver Movement. The slippers are silver in the book, and Oz is the abreviation for ounce, a regerence to gold. The Wizard of Oz was the banking industry who did all their work from behind a curtain.

I think that a nice stroll down the last century’s proposals on monetary reform would give us a few more options on a way out of this mess than the men behind the curtain can come up with. and it might make L. Frank Baum smile.

Know this thread is long dead, but if ya read this GS:

Great reads, funny how it’s all from overseas sources . . . ;-)

And thanks to bluebutterfly for the Liz Warren read, also.

As others suggest, yeah, I wonder how soon she gets the ax . . . she’s too spot on for how Obama’s Admin seems to be shaping this scenerio we’re in.

Scarecrow, I really wonder if the FDIC hires are to gun for the corps, or to put people in play to game it all further.

Time will tell, perhaps.

My biggest fear is there’s NO jobs development in place NOW.

Without jobs being created NOW, or in 3-6 months, none of the transfer of wealth matters.

And the more of the masses that don’t work, can’t pay rent (the hell with home ownership) and can’t take care of their health and family . . . well, the more desperate it all gets.

Many of the masses have been in recession since ‘03 our here in CA.
They need jobs, they could give a rats ass about hi end stimulations given to banks to loosen up loan money.

And that’s not a good thang. The desperation, thang. The lack of jobs thang. Wrong focus, from the admin, IMHO.

An immediate WPA like effort should have been side by side with cleaning up the banking/financial disaster.

But then, those in control don’t really have the needs of the masses at heart, do they.

” Today..tomorrow? Sort of a foregone conclusion isn’t it? She is demanding truth and accountability from bank CEOs and Timmy..brave woman!
*************
Warren also believes there are “dangers inherent” in the approach taken by treasury secretary Tim Geithner, who she says has offered “open-ended subsidies” to some of the world’s biggest financial institutions without adequately weighing potential pitfalls. “We want to ensure that the treasury gives the public an alternative approach,” she said, adding that she was worried that banks would not recover while they were being fed subsidies. “When are they going to say, enough?” she said.

She said she did not want to be too hard on Geithner but that he must address the issues in the report. “The very notion that anyone would infuse money into a financially troubled entity without demanding changes in management is preposterous.” “

http://www.guardian.co.uk/busi…..regulators

..stay tuned..telling the truth is not exactly rewarded..’g’

The UK, Iran, Russia, Malaysia, Spain, EU sites..countries such as these is where I go for news about the US. The US MSM is Pentagon controlled, so they lie and slant to their hearts content. Add the fact that MSM has a court protected right to lie to their viewers and the result is that the Fourth Estate is terminally ill in America. Haaretz (Israel) is one of the best for speed and accuracy of news. The Guardian and Times (UK) are reliable sources for US news. I knew that Obama was in Iraq hours before CNN announced it yesterday. Breaking news..haha..only breaking on CNN..the rest of the world already knows.

Many times ‘breaking news’ on CNN is something that I knew a week before. And yes, it is a con because CNN has reporters all around the world. They only release something that is detrimental to the US when they decide that they can’t ignore the situation any longer. I can say for a fact that the web influences them though they would never admit that. Sometimes it takes a week, or more, but I have seen a few times where something viral on the web finally gets disclosed on CNN. Often with propaganda artist Blitzer trying to deflect, or mislead; part of his job description, I think. It is good that guests don’t bow to Blitzer as often as they used to.

The US MSM isn’t asleep at the wheel..they are steering the frigging thing!