Crashola: Follow the Money
- Senator Schumer is saying that if a state government doesn’t want any of the stimulus money, they shouldn’t be forced to take it; however, you can’t pick what parts you will or won’t take. Sounds good to me. And Governor Sanford of South Carolina says that he’ll pray for you if you’re down and out, but horrors, can’t take that stimulus money. I want to see him do that and see what happens to his party in the next election with those people he prayed for.
- Robert Reich on deficit cutting and stimulus and the recession. Short version: #3 is the real worry.
- British bankers don’t like all this no-bonuses talk and demand more goodies. The reason is simple; the world they live in has purple paisley skies and endless bonuses for just showing up at the office.
- McCain: your new helicopter costs too much. Obama: I didn’t order it, your buddy Bush did, I’m happy with what I’ve got, and I’ve told the people involved to suss this all out and figure out if we really need this.
- New idea: an infrastructure bank.
- As the Philadelphia papers were tanking, their run-them-into-the-ground CEO was getting massive pay raises.
Even though Tierney in January 2008 demanded a 10% cost concession from workers, his own pay was bumped up 3% in May 2008 to $618,000. Then came the big boost around Christmas.The Inquirer and Daily News join a growing list of newspapers forced into bankruptcy after sharp declines in advertising destroyed their ability to service big debts taken on when they changed hands…It also raises the prospect of big losses by the lenders that provided the balance of more than $400 million in debt financing. The list of largest unsecured creditors was topped by Royal Bank of Scotland, which is owed $22 million. As of Jan. 31, the company said it still owed $395 million to lenders.