At Ease

Godspeed, Corpseman! Semper fie!

Preston hardest hit

And that rhymes with ‘birther.’

Patches Pronounces Scott Brown a “Joke”

The sad dregs of the Kennedy dynasty, Patches, seems not to realize that he’s the punchline. A more inconsequential empty suit, it would be hard to imagine.

As mentioned before, William Jacobson is making it his near-term ambition to get rid of this tinpot termagant.

Mallory meets Fall of the House of Usher meets Tennessee Williams meets Celebrity Rehab. Pathetic.

At American Thinker, Phil Boehmke takes a broader view of crumbling Camelot.

Goldman and AIG

More revelations from the NYT:

Still, documents show there were unusual aspects to the deals with Goldman. The bank resisted, for example, letting third parties value the securities as its contracts with A.I.G. required. And Goldman based some payment demands on lower-rated bonds that A.I.G.’s insurance did not even cover.

A November 2008 analysis by BlackRock, a leading asset management firm, noted that Goldman’s valuations of the securities that A.I.G. insured were “consistently lower than third-party prices.”

To be sure, many now agree that A.I.G. was reckless during the mortgage mania. The firm, once the world’s largest insurer, had written far more insurance than it could have possibly paid if a national mortgage debacle occurred — as, in fact, it did.

Perhaps the most intriguing aspect of the relationship between Goldman and A.I.G. was that without the insurer to provide credit insurance, the investment bank could not have generated some of its enormous profits betting against the mortgage market. And when that market went south, A.I.G. became its biggest casualty — and Goldman became one of the biggest beneficiaries.

*******

By the spring of 2008, A.I.G.’s dispute with Goldman was just one of its many woes. Mr. Cassano was pushed out in March and the company’s defenses against the growing demand for payments faltered. By the end of August 2008, A.I.G. had posted $19.7 billion in cash to its trading partners, including Goldman, according to financial filings.

Over that summer, A.I.G. had tried, unsuccessfully, to cancel its insurance contracts with the trading partners. But Goldman, according to interviews with former A.I.G. executives, would allow that only if it also got to keep the $7 billion it had already received from A.I.G. Goldman wanted to keep the initial insurance payouts and the securities in order to profit from any future rebound.

In addition to offering to cancel its own contracts, Goldman offered to buy all of the insurance A.I.G. had written for several other banks at severely distressed prices, according to three people briefed on the discussions.

*******

The government would soon settle the yearlong dispute between Goldman and A.I.G., with Goldman receiving full value for its bets. The federal bailout locked in the paper losses of those deals for A.I.G. The prices on many of those securities have since rebounded.

UPDATE: Jeff’s got up an excellent post on Mario Cuomo’s attempt to remake himself by going after Bank of America. I’d earlier mentioned this with respect to SEIU.

Congratulations, New Orleans

You elected a white mayor for the first time in 30 years (apparently this is a Big Deal), even if it was a Landrieu, and won a Super Bowl.

Can we be post-racial, now? (Photo from The Telegraph)

A Note About Climate Change, Politics, Exhaustion

People ask me. “Dan,” they ask, “why aren’t you posting so much about climate change, now that so much information’s coming out?”

The reason that I’m not posting on climate change is because the information’s finally coming out. I’ve been posting on the subject and commenting on the subject from way back in the Scott Burgess days, before he disappeared and then finally re-emerged with a Mittel-Europa lifestyle blog (which you should check out anyway). So, I’m keeping track of developments (and cackling), but I think it’s time to invest my efforts in other directions.

Jimmie Bise said something on Twitter recently, to the effect that he was thinking of moving away from politics on his blog. It does sometimes get overwhelming, and you may recall that I said to the proggs at the time of the election, congratulations . . . you’ve politicized us. And goodness knows, they’ve put enough of us out of business that we have the kind of time that only retirees, college and graduate students and folks on the dole used to have.

So, what are they offering us now, by way of selections for a 2012 presidential candidate? Romney (whose Massachusetts health care will have failed fully by then, but who deserves thanks for his advocacy of Scott Brown), Huckabee (most recently seen mealy-mouthing a backfired policy of setting prisoners free), Gingrich (who’s way beyond expiration), and Palin (who’s probably more effective gone rogue). For the moment, then, just for the sake of argument, let me state that even though he and I differ in a couple respects, I’m going to say Paul Ryan. Congressman King has been effective. There are others. But there’s not a chance in hell that anyone’s going to want to send a one-term Senator to the White House next time around, so Scott Brown’s out.

I Endorse This Post

From The Classic Liberal. And also the analysis.

Christopher Taylor’s graphics aren’t as . . . informative, but his post on the government’s structural disincentives to hire is well worth reading.

While I’m on the subject, I do a little editing and copywriting on the side, if anyone has any use for that, and my brother Enoch’s people are putting together their February schedule for web design, so if you know anybody who has needs that way . . .

Bingley was in Brazil, and all we got was these lousy photos?

Latest on Treach

From his Twitter stream:

Threw a coronary pulmonary (thanks, Pat) embolism, but he’s still tweeting, so that’s good.

Has an oxygen mask.

Will have to be on blood thinners for several months.

Has a machine that moves his leg around gently as phase one of his therapy.

Denied talking sexbot by his evil insurance company.

Anyway, Treach, you’re in our thoughts and prayers.

Round Up of Thanks and Other Links of Note

Pride of place goes to Carol at No Sheeples, who wrote very generously of my book, and who’s really been on a tear, posting on Reagan, Sarah Palin’s speech to the Tea Party Convention, and Barry’s apparent lack of stimulation in the role of President. Anhedonia is a terrible affliction that can only be overcome by massive spending.

Stacy linked this morning to my bit on Horowitz’ Rule 5 bonanza. Another blogger of note reduces this to the formula, tits is hits, which may be true, but only tells part of the story. Stacy’s in Alabama covering the races (electoral) down there, and Smitty’s actually at the Tea Party Convention, so the ramblin’ men are expending shoe leather, IYKWIMAITYD. It seems there may be corpses involved. An Evil Giraffe sees undead people.

Sissy Willis doesn’t seem to have a bit of confusion regarding what the Tea Party Movement is about (and works in an allusion to “My Last Duchess”).

William Teach saw fit to mention my mention of the hilarious talking sexbot product review.

The Unreligious Right links to my screed against Jacob Weisberg’s Kleinian whinging, making me think that perhaps the screed is my natural metier.

Cynthia Yockey deserves thanks, as well, for offering to put up an ad for my book, and I would have taken her up on the offer if it weren’t causing our pages to load slowly. She smites The One in admirable fashion here, not caring whether those so inclined will find her homophobic. I seem to recall being assured by those who make comedy their profession that there was nothing remotely funny about the man, but I might just have dreamt it.

He doesn’t link here, and he (quite reasonably) questions my integrity in comments, but Karl seems to have written the best short analysis of what went wrong with ObamaCare. As a bonus, he gets in a nice smack on Klein, who is melting, melting.

Mike LaRoche wrote about a conspiracy theory worthy Olbermann or Charlie Sheen, that is best digested while listening to Dark Side of the Moon and watching The Wizard of Oz. Jack Cashill stretches speculation too far, in my view, in this piece on Obama’s “origins,” but the time-line part seems solid and an important contribution.

If you’ve forgotten to look in on Mike Hendrix lately, here’s a reminder why you shouldn’t:

Anybody who thinks the craptastic creep actually wants to keep capitalism shipshape and humming efficiently along, rather than “stimulating” it into a spectacular crash and burn from whose ashes the Almighty State can rise like a screeching carrion-bird, is kidding themselves.

William Jacobson’s organizing to depose pathetic drunk Patches Kennedy.

JWF has discovered a libertarian candidate who obviates the need for political cartoonists.

Geoff B’s excellent piece on how the radical factions took over the Democrat Party.

Hilarious Talking Sexbot Review

Shaping up as a bad day for Ace, who’s been scooped.

On the plus side, maybe he can get a discount on the sample bot.

Monetize your love


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