BloggingStocks http://www.bloggingstocks.com BloggingStocks http://www.blogsmithmedia.com/http://www.bloggingstocks.com/media/feedlogo.gif BloggingStocks http://www.bloggingstocks.com en-us Copyright 2012 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Wall Street's meltdown: In search of a villain]]>http://www.bloggingstocks.com/2008/10/22/wall-streets-meltdown-in-search-of-a-villain/http://www.bloggingstocks.com/2008/10/22/wall-streets-meltdown-in-search-of-a-villain/http://www.bloggingstocks.com/2008/10/22/wall-streets-meltdown-in-search-of-a-villain/#commentsFiled under: , ,

It's only been a few weeks since Henry Paulson begged Congress for $700 billion to bail out Wall Street, but Americans already seem to be coming to terms with the mountain of cash that they have had to lay out. Then again, one can only maintain self-righteous anger for so long and, with the onset of winter, finding ways to pay for heating and Christmas trumps the desire to set fire to the local bank. Still, as today's outrage becomes tomorrow's history, it is vital that America find a way to package this episode.

The first struggle has been to come up with a name for the Wall Street meltdown (I still like "Bernanke Panky"). However, as that plays out, it's time to begin finding a villain to blame. This is tremendously important stuff. For history to be written, complex events must be boiled down to a single cause, preferably an individual who can take responsibility for everything. For example, as every schoolchild knows, LBJ caused Vietnam, Hoover caused the Great Depression, and Nixon caused Watergate. Never mind that these men were the products of their ages or that history is a complex process. Children need villains, history demands explanations, and Americans crave resolution. Never mind that millions of homeowners signed up for mortgages that they couldn't pay, that millions of investors blindly purchased worthless securities, and that the groundwork for this disaster was laid by Democrats and Republicans demonstrating an impressive, albeit bipartisan, ignorance. History must be written and blame must be laid. Chances are, it will end up falling on one of the following people:

Continue reading Wall Street's meltdown: In search of a villain

Wall Street's meltdown: In search of a villain originally appeared on BloggingStocks on Wed, 22 Oct 2008 17:20:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>AIGChristian MiltonChristianMiltonCongressHank PaulsonHankPaulsonHenry WaxmanHenryWaxmanHitlerHooverNixonrichard FuldRichardFuldWed, 22 Oct 2008 17:20:00 EST<![CDATA[March consumer confidence index plunges to a 35-year low]]>http://www.bloggingstocks.com/2008/03/25/march-consumer-confidence-index-plunges-to-a-35-year-low/http://www.bloggingstocks.com/2008/03/25/march-consumer-confidence-index-plunges-to-a-35-year-low/http://www.bloggingstocks.com/2008/03/25/march-consumer-confidence-index-plunges-to-a-35-year-low/#commentsFiled under: , ,

U.S. consumer confidence is at its lowest level since the Nixon Administration of the 1970s, according to one measure. U.S. consumer confidence fell in March 2008 to 64.5 -- a 35-year low -- the Conference Board announced Tuesday.

Economists surveyed by Bloomberg News had expected the index to drop to 73.0 in March 2008. The February 2008 index was revised to 76.4.

The board said that consumers' evaluation of present-day conditions weakened significantly. Those claiming business conditions are "bad" increased to 25.4% from 21.3%, while those claiming business conditions are "good" declined to 15.4% from 19.1%. Consumers' assessment of the job market was considerably more pessimistic than last month. Those saying jobs are "hard to get" rose to 25.1% from 23.4%, while those claiming jobs are "plentiful" decreased to 18.8% from 21.5%.

Continue reading March consumer confidence index plunges to a 35-year low

March consumer confidence index plunges to a 35-year low originally appeared on BloggingStocks on Tue, 25 Mar 2008 11:40:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>1970sbusiness conditionsconsumer confidenceconsumersCPIenergy pricesfoodfood pricesinflationinthenewsjob growthjobsNixonoilPresident NixonU.S. economyTue, 25 Mar 2008 11:40:00 EST<![CDATA[Is Obama in 2008 like JFK in 1960 -- on the glory road?]]>http://www.bloggingstocks.com/2008/02/11/is-obama-in-2008-like-jfk-in-1960-on-the-glory-road/http://www.bloggingstocks.com/2008/02/11/is-obama-in-2008-like-jfk-in-1960-on-the-glory-road/http://www.bloggingstocks.com/2008/02/11/is-obama-in-2008-like-jfk-in-1960-on-the-glory-road/#commentsFiled under: ,

A colleague based in Washington, D.C. recalled that moment in the 1960 presidential campaign when Kennedy's campaign staff knew that John F. Kennedy would defeat Richard Nixon. It occurred that fall, just before their first televised debate -- the first presidential debate ever broadcast on television.

The then Sen. Kennedy, a Democrat, was fresh from a vacation at the Kennedy Compound at Hyannis on Cape Cod, Massachusetts. He was bronzed from days spent sailing in the sun, and he was well rested. He looked like a Greek sculpture.

Conversely, the then Vice President Nixon, a Republican, looked ashen, tomb-stone white, with deep-set eyes from weeks of campaigning.

And as is the norm before a show, the TV producer asked Kennedy if he wanted some make-up.

"Nah, I don't want any make-up," Kennedy said, and motioned off the make-up man with his hand.

Nixon, perhaps trying to match Kennedy, and despite his sweaty face, refused make-up, as well.

Continue reading Is Obama in 2008 like JFK in 1960 -- on the glory road?

Is Obama in 2008 like JFK in 1960 -- on the glory road? originally appeared on BloggingStocks on Mon, 11 Feb 2008 14:22:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>19601960 election2008 electionBarack ObamaBarackObamaClintonDemocratic National Conventiondemocratic partyDemocraticPartyfeaturedJFKJohn F. KennedykennedyMcCainNixonObamaprimariesU.S. presidencyMon, 11 Feb 2008 14:22:00 EST