The Vig

WSJ:
In the fall of 1907, it took J.P. Morgan just eight weeks to resolve a credit crisis similar to ours. Several years of buoyant growth and too much risk-taking in poorly understood investments led to needs for capital that could not be met. Morgan, then 70, locked the nation’s top bankers into the ornate library [...]

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One of the true pleasures of this space has been the number of folks who’ve put me in their blogrolls in the last year-plus.  I’m listed by everyone from Jack Bog to Dwight Jaynes to Gregg Drinnan to Andy Kemper to Casey Holdahl.  There are some serious heavy hitters in there and, with the exception [...]

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I grabbed a grip of magnet schedules at the Winter Hawks game Saturday night.  I like to pass them around the office and get people a little fired up to go see a game.  It’s the funniest damned thing in this town.  Anytime I mention the Hawks to someone I know, they tell me a [...]

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Atrios:
CNN is telling me that “Biden’s Verbal Blunders worry some Democrats,” and keep putting up Alex Castellanos (R-Hack) to explain it.
…and now Karen Hughes and Mark Penn are going to come on to explain the world.
It would seem CNN is once again living up to it’s 90s “Clinton News Network” monicker.  Biden isn’t going anywhere, [...]

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Following Jack Bog’s lead:
A friend of mine who lives up the street from the Palins in Wasilla has informed me Bristol Palin will be getting married next weekend at her parents’ home church in Wasilla.  Sarah is on her way back to Alaska to help out with preparations.  An announcement cancelling Thursday’s debate is expected [...]

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A big part of the reason for the nation’s distrust of this financial bailout thing is the fact that neither Congress nor the administration has come clean with what exactly the stakes are.  What is happening and where are we headed if we don’t do anything?
Treasury Secretary Henry Paulson (he wants us to call him [...]

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I’ve been talking about the financial impact of home equity lines for a while  Irvine Renter talks about what’s happening in the OC right now.
Assuming this seller was employed, their house was likely earning more than they were. Graphix has done some great work on the problems with local employment figures, and others have noted [...]

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Did you ever see that movie Jumpin’ Jack Flash with Whoopi Goldberg?  There’s a scene in there where Whoopi is trying to write down the lyrics to the song.  At one point she turns to the speaker and yells “speak English, Mick!”.  You sort of want to do this with poor Sarah, too.  Fortunately for [...]

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All signs point to the financial system collapsing by Monday, but tonight I don’t care.  Wow.

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