I cringe along with everyone else at the notion of Henry Paulson spending up to $1 trillion in public money to buy bad mortgage-backed securities from failing financial institutions. There is one potentially bright spot, pointed out by (gulp) Barney Frank: These securities will be purchased at a steep discount, and will be worth a whole lot more after restructuring. The software was always right. Securitized mortgages paid off, even allowing for defaults. Right now, somebody with some authority needs to engineer the financial rework. Congress just wants to wait around, then point fingers. Paulson has been given the authority, and, unfortunately, he has to use it.
A man of faith in a godless age is hitting Americans where it hurts.
Mr. and Mrs. American Spectator Reader, let P.J. O’Rourke talk sense to your kids.
In Britain, defending your property can get you life.
The debacle of this president’s administration is both a cause and a symptom of the decline of American values. Unless Congress impeaches him, that decline will go on unchecked. An eminent jurist surveys the damage and assesses the chances for the recovery of our culture.
It won’t take long for conservatives to scratch this presidential wannabe off their 2008 scorecard.
The American Christmas, like the songs that celebrate it, makes room for everybody under the rainbow. Is that why so many people seem to be hostile to it?
Was the President done in by the economy, or by the politics of the economy?
H/T to National Review Online