Wall Street

Morning Roundup: Soak the Rich!

  • The government bailout of financial institutions is wildly unpopular and perceived to be highly wasteful. Which is funny, the Treasury Department reckons, because so far it has yielded a profit of $35 billion. [AP]
  • Americans want drastic action taken against the deficit; they just don’t want to pay more taxes or reduce Read More

On the Money

An Insanity That Pays

I recall the moment before I entered the alternate universe of finance. I was in a job interview, pondering whether to leave a job I loved as a reporter for The Wall Street Journal, for a job I knew next to nothing about at Morgan Stanley. As we reached the end, my interviewer asked what I Read More

With Friends Like These… Midwestern Democrats Fight Climate Policy

On August 6th, ten Midwestern Democratic Senators sent a letter to President Obama that began the hardball phase of creating climate policy as it moves from the House’s Waxman-Markey bill to Senate deliberations in the fall. In this letter, the Senators insist that climate change legislation must protect U.S. manufacturers from unfair foreign competition.  They Read More

This Is Vito’s Guy?

Stephen Levin knows that to his opponents in the 33rd City Council District, he is “Vito’s Guy,” the machine candidate who has worked since 2006 as chief of staff to Assemblyman and Brooklyn Democratic Party chair Vito Lopez.

“I think that’s fine,” Levin said with a shrug. “I can’t control everybody’s Read More

Petraeus Says Maliki Didn't Follow His Advice

WASHINGTON—Carl Levin just asked General David Petraeus about whether Nuri Kamal al-Maliki followed his advice in preparing military action against loyalists to Shiite cleric Moktada al-Sadr in his stronghold, Basra.

“I would not, no sir,” said Petraeus. When pressed, the general added, “It was not adequately planned or prepared.”

New Hampshire’s Waiting Game is Fine by Hillary

DURHAM, NH—Yesterday, at the University of New Hampshire’s athletic complex in Durham—where the school’s long-suffering Wildcats hoops team nursed the longest home court losing streak in college basketball history in the early 1990s—a few hundred students, faculty members, and local residents milled around late in the afternoon, a half-hour after Hillary Clinton’s speech was supposed Read More

Anti-War Crowd Fires at the Wrong Target

Among turncoat Democratic Senators in the Bush era, there was Zell Miller first, and then Joe Lieberman. And now … Carl Levin?

To quote the old Sesame Street tune, one of these things is not like the others.

And yet Mr. Levin, a 73-year-old workhorse who dependably waved his party’s flag when it Read More

Credit-Card Pirates Ripe for Regulation

Claire McCaskill recently got a chance to do something that millions of us have wanted to do. She got a chance to tell the executives of the major credit-card companies what she thought of them.

Ms. McCaskill is the junior Senator from Missouri, one of the good things that happened in the last election. As Read More

Pretty Persuasion and The People That All Look Alike

“Can you tell us what the fuck that movie was about?” asked a leggy blonde. She was at the afterparty for the premiere of Pretty Persuasion, a dark teen dramedy in the fine tradition of Heathers. “We walked in halfway through.”

Hmm, let’s see. There’s a sprinkling of underage sex, a generous dose of the Read More