Three sighs for Southern Cal, where I was born and raised.
Continuing signs of the runoff of the ongoing financial meltdown swamping the real economy. Big profit plunges in the big banks and the like. Always fun to watch them losing our money.
Meanwhile, the banks are having a hard time figuring out how to bail themselves out.
Even a financial journalist finds the Treasury secretary incoherent and dissociative.
Another F.J. marvels that "interconnected global markets should make the world economy more stable," except they don't. Duh. Life is surprising for journalists who believe in the Invisible Hand.
Fr. Frank supplies the details on the financial conflicts of interest, nepotism, and for-profit self-dealing that are the main aim of Bushian government.
Media companies that can't create it - buy it. Always enough money in this country for that.
Meanwhile, Rep. Pete Stark blows his stack, and tells Bush off.