THE REBEL WITH A PAUSE

Larry Summers (Obama’s economic adviser) keeps pointing out that the economy has recently been showing significant signs of improvement, and we are far less likely to face severe depression and total financial collapse than originally thought or predicted. Paul Krugman pointed out that this is not a recovery, only a “pause” in the recession, which is why we are now calling Krugman the “rebel with a pause”. He points out that industrial productivity is still falling, unemployment is still up and things are “getting worse more slowly”. With the constant debate raging between Krugman and the Obama team, we hope that this rebel is wrong about his pause, and if he is right we hope that the Obama people can swallow their pride and bring rebel Krugman on board.

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AIG = AINT I GREEDY

For those of you out in Fauxvia who may consider this title a bit flip, remember we are describing a bunch of flops. Because all we have to do is watch the actions this week of the AIG Board of Directors. After being kept afloat by $170 billion dollars in bailout money, they are planning this week to give out 165 million dollars of employee bonuses. This they say, is required by pre-existing contracts, and also enabled by their friend George Bush who gave them bailouts with no preconditions. President Obama isnt pleased (to put it mildly), and Larry Summers was on record this weekend as to the administrations intent to explore every legal means to limit or eliminate this junk bonding (our words, not his) between executives and their own interests while remaining oblivious to the performance levels of their companies. This is why we now call it AINT I GREEDY.

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