Roundup for Friday 12/19/2008

Bush is going to hook Chrysler and GM up with a $13.4 billion loan. Seems like a reasonable short term deal that will buy time for the incoming administration and Congress to address the issue more comprehensively.

Paul Krugman thinks the Madoff scandal is a microcosm of the financial industry as a whole. The essence of his argument is that the financial industry added very little in actual value to the economy, but still generated millions for those lucky enough to be working for large financial firms. I also like this question Krugman poses:

Meanwhile, how much has our nation’s future been damaged by the magnetic pull of quick personal wealth, which for years has drawn many of our best and brightest young people into investment banking, at the expense of science, public service and just about everything else?

VP Dick Cheney is continuing his farewell/torture glorification tour. Why isn’t this guy in prison? Can you even imagine the outrage the media would bombard us with if any other world leader had said it’d be immoral not to have used torture?

I figure I might as well comment on Obama picking Rick Warren to deliver the invocation at his inauguration. It probably doesn’t surprise you that I think it stinks. The biggest of Warren’s sins has been crusade against gay rights and that alone would disqualify him in my book. However, it could turn out to be a schrewd move by Obama if it turns out he’s using Warren and not the other way around. Anyways, the leftwing is perfectly justified in their vocal outrage, especially in a media environment where it is never out of vogue to anger your base, if it’s liberal, and be concilliatory to the opposition, if it’s conservative.

2 Comments

  1. Ian

    In a similar idea as the financial industry: How many of the most talented doctors go on to be plastic surgeons or dermatologists?

  2. Chris

    One could argue that at least there was a tangible result from the labor of plastic surgeons.