If it's not Iraq, W, privacy, torture, or the economy, I don't have a lot to say... & I'm making a conscious effort to avoid commenting on the Dem primary. When the Dem candidate is known I'll start commenting on the campaigns. (Same with NM1: there are currently three viable candidates. I have a preference, but will wait till after Jun 3 NM primary to devote virtual ink to the campaign.)
Today's semi-relevant news:
JPMorgan to buy Bear for $2 a shareTreasury Secretary Paulson was on Fox News today, being interviewed by Chris Wallace. Wallace seemed to be trying to ask substantive questions. Sec'y Paulson was being more than mildly inarticulate while trying desperately not to answer the questions. Lot's of references to fundamental long-term strength of the economy, which, as I've pointed out previously, is beside the point:
By JOE BEL BRUNO and MADLEN READ, AP Business Writers
16 March 2008
NEW YORK - JPMorgan Chase said Sunday it will acquire rival Bear Stearns for a bargain-basement $236.2 million — or $2 a share — a stunning collapse for one of the world's largest and most storied investment banks.
Long run is a misleading guide to current affairs.Hoover could have observed in 1930 that the long-term prospects for the American economy were good. He would have been right.
In the long run we are all dead.
[John Maynard Keynes (1883–1946), British economist. A Tract on Monetary Reform, ch. 3 (1923)]
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