Just a quick heads up about a suspicious e-mail that showed up in my inbox a few hours ago. Consider yourself warned:

SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP

DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.

I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.

THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.

PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.

YOURS FAITHFULLY MINISTER OF TREASURY PAULSON

Woody wrote:KSK has this bit of hilarity today. Well done

Just a quick heads up about a suspicious e-mail that showed up in my inbox a few hours ago. Consider yourself warned:

SUBJECT: REQUEST FOR URGENT BUSINESS RELATIONSHIP

DEAR AMERICAN:
I NEED TO ASK YOU TO SUPPORT AN URGENT SECRET BUSINESS RELATIONSHIP WITH A TRANSFER OF FUNDS OF GREAT MAGNITUDE.

I AM MINISTRY OF THE TREASURY OF THE REPUBLIC OF AMERICA. MY COUNTRY HAS HAD CRISIS THAT HAS CAUSED THE NEED FOR LARGE TRANSFER OF FUNDS OF 800 BILLION DOLLARS US. IF YOU WOULD ASSIST ME IN THIS TRANSFER, IT WOULD BE MOST PROFITABLE TO YOU.

I AM WORKING WITH MR. PHIL GRAM, LOBBYIST FOR UBS, WHO WILL BE MY REPLACEMENT AS MINISTRY OF THE TREASURY IN JANUARY. AS A SENATOR, YOU MAY KNOW HIM AS THE LEADER OF THE AMERICAN BANKING DEREGULATION MOVEMENT IN THE 1990S. THIS TRANSACTIN IS 100% SAFE.

THIS IS A MATTER OF GREAT URGENCY. WE NEED A BLANK CHECK. WE NEED THE FUNDS AS QUICKLY AS POSSIBLE. WE CANNOT DIRECTLY TRANSFER THESE FUNDS IN THE NAMES OF OUR CLOSE FRIENDS BECAUSE WE ARE CONSTANTLY UNDER SURVEILLANCE. MY FAMILY LAWYER ADVISED ME THAT I SHOULD LOOK FOR A RELIABLE AND TRUSTWORTHY PERSON WHO WILL ACT AS A NEXT OF KIN SO THE FUNDS CAN BE TRANSFERRED.

PLEASE REPLY WITH ALL OF YOUR BANK ACCOUNT, IRA AND COLLEGE FUND ACCOUNT NUMBERS AND THOSE OF YOUR CHILDREN AND GRANDCHILDREN TO WALLSTREETBAILOUT@TREASURY.GOV SO THAT WE MAY TRANSFER YOUR COMMISSION FOR THIS TRANSACTION. AFTER I RECEIVE THAT INFORMATION, I WILL RESPOND WITH DETAILED INFORMATION ABOUT SAFEGUARDS THAT WILL BE USED TO PROTECT THE FUNDS.

YOURS FAITHFULLY MINISTER OF TREASURY PAULSON

TenuredVulture wrote:This graphic cracked me up for some reason.

While McCain's positions on animal protection have been lukewarm, his choice of running mate cemented our decision to oppose his ticket. Gov. Sarah Palin's (R-Alaska) retrograde policies on animal welfare and conservation have led to an all-out war on Alaska's wolves and other creatures. Her record is so extreme that she has perhaps done more harm to animals than any other current governor in the United States.

Palin engineered a campaign of shooting predators from airplanes and helicopters, in order to artificially boost the populations of moose and caribou for trophy hunters. She offered a $150 bounty for the left foreleg of each dead wolf as an economic incentive for pilots and aerial gunners to kill more of the animals, even though Alaska voters had twice approved a ban on the practice. This year, the issue was up again for a vote of the people, and Palin led the fight against it -- in fact, she helped to spend $400,000 of public funds to defeat the initiative.

What's more, when the Bush Administration announced its decision to list the polar bear as threatened under the Endangered Species Act, Palin filed a lawsuit to reverse that decision. She said it's the "wrong move" to protect polar bears, even though their habitat is shrinking and ice floes are vanishing due to global warming.

The choice for animals is especially clear now that Palin is in the mix. If Palin is put in a position to succeed McCain, it could mean rolling back decades of progress on animal issues.

TenuredVulture wrote:This graphic cracked me up for some reason.

jerseyhoya wrote:So if Barney Frank and Hank Paulson can agree on something, it's probably a good deal for the country, right?

I've been watching some of this Senate hearing. It's interesting, if mostly over my head.

Also, oil is back down today.

Over the next few years, the U.S. will have to climb out from under mountainous piles of debt. Many predict a long, gray recession. The country will not turn to free-market supply-siders. Nor will it turn to left-wing populists. It will turn to the safe heads from the investment banks. For Republicans, people like Paulson. For Democrats, the guiding lights will be those establishment figures who advised Barack Obama last week — including Volcker, Robert Rubin and Warren Buffett.

These time-tested advisers, or more precisely, their acolytes, are going to make the health and survival of the financial markets their first order of business, because without that stability, the entire economy will be in danger. Beyond that, they will embrace a certain sort of governing approach.

The government will be much more active in economic management (pleasing a certain sort of establishment Democrat). Government activism will provide support to corporations, banks and business and will be used to shore up the stable conditions they need to thrive (pleasing a certain sort of establishment Republican). Tax revenues from business activities will pay for progressive but business-friendly causes — investments in green technology, health care reform, infrastructure spending, education reform and scientific research.

If you wanted to devise a name for this approach, you might pick the phrase economist Arnold Kling has used: Progressive Corporatism. We’re not entering a phase in which government stands back and lets the chips fall. We’re not entering an era when the government pounds the powerful on behalf of the people. We’re entering an era of the educated establishment, in which government acts to create a stable — and often oligarchic — framework for capitalist endeavor.

traderdave wrote:

TenuredVulture wrote:This graphic cracked me up for some reason.

Looks like a connect-the-dots my two-year-old was working on this morning.

steagles wrote:

jerseyhoya wrote:So if Barney Frank and Hank Paulson can agree on something, it's probably a good deal for the country, right?

I've been watching some of this Senate hearing. It's interesting, if mostly over my head.

Also, oil is back down today.

i have at least one thing in common with barney frank, and i think he knows more about the economy than i do, but i just can't trust him on this issue. from what i know, if he hasn't been downright supportive of the deregulation, he has been complicit in it.


for some reason, i trust chuck shumer more on this issue than frank, obama, or biden.

dajafi wrote:Hmm... sounds rather elitist to me. I don't think I'd like to pound shots or go hunting with any of these snootypants bankers.

drsmooth wrote:

dajafi wrote:Hmm... sounds rather elitist to me. I don't think I'd like to pound shots or go hunting with any of these snootypants bankers.

avuncular fascism is still fascism; no thanks.

Transparency is what's needed. Hard, clinical, technical transparency.

The basics of business are brutally simple. That enterprise (whether or not with the aim of making profits) depends, often quite heavily, on guile and dissimulation, is not news; that in concentrated form it can cause serious social dislocation for 'innocent bystanders' is not well understood for some reason.

Transparency can help protect those bystanders - imperfectly, but better than relying on ol' uncle Henry (or Ben, or Warren, or goofy old uncle George) to look out for you (or me, or everybody).