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NUTHIN' BUT 'NET

Posted: Tuesday, August 14, 2007 2:28 PM by Petra Cahill
Filed Under:

By Chris Colvin, News Writer, Nightly News

Hi. It's a short one today, starting for a change with politics and Rove's departure, then back to our favorite (gulp) topic: the credit crunch/crisis and a warning bell from a money market fund called, aptly, Sentinel. And scouring the financial blogs can also yield other kinds of good advice, including some witty life lessons for middle-aged men.

Might as well kick things off with Adam Nagourney's take on the lasting influence of Rove as he leaves the WHU..  I'd like to link to the NYT OpEd by fortuitously-timed Rove profiler Joshua Green but I can't find it on their site (even behind the SelectWall..) but blogger Mark Thoma at Economist's View excerpts Green and rebuts his idea of Rove's theory of government.
Now to the beat-downs. Darksyde at DailyKosArianna HuffingtonAndrew Sullivan (careful this one might burn your eyeballs. Ouch.)  Digby with embedded links galore.  Rove biographer Wayne Slater via RawStory, Josh MarshallSidney Blumenthal.  And ThinkProgress has a newspaper roundup

Now to today's bad news on the credit market front, and a small financial services fund that holds reserves for commodities traders which suspended redemptions today. Its name.. Sentinel.. may end up being prescient, in terms of what it tells us about contagion in credit risk. (It ain't just mortgage backed securities anymore.) It may also point to a coming "run on the bank" when it comes to hedge funds.. tomorrow is an important deadline for Q4 redemptions. Minyanville sums up.  For a more meta view.. our favorite bearish economist Nouriel Roubini discusses the difference between a liquidity problem and an insolvency problem.   Roubini's view critiqued by Portfolio's Felix Salmon    The New York Times editorial page notes the Bush administration's response to the credit problems has been lacking.  And to get even more meta.. the head of the federal Government Accountability Office says the U.S. is going to fall the way Rome did. Now that's not something you hear a U.S. government official say every day.  And here's a well-timed study that says the correlation between high IQ and financial success is.. uhh.. low.
And hey not everything you read in the financial press is depressing. Here are some rules for middle-aged men from the FT's Peter Apsden.

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Hi Chris this was an interesting week. Now you know I do my homework so here it goes.  President Bush and his father met with the French President. I think Daddy Bush had a lot to do with Rove's departure, because Daddy Bush fired Rove from his Administration.  To many crimes are coming to light. Don't forget Judge Walton has to deal with the Seal vs Seal matter that was part of the grand jury indictments with Libby. Yes we know no one will talk about it but the court records are public. Jack Abramoff's been talking and Duke you can bet Karl is up to his neck in those crimes.  
Chris when women don't want to do something they  use the excuse they have a slight cold or a headache it's old school. The French First Lady used it with her invitation to the Bush Family Lunch. To bad she was seen shopping the same day with friends looks like the old excused worked.
Now Cheney is pushing to invade Iran which will not happen. PM Brown is looking to talk with Hamas leaders. Our stolen weapons, vest and bullets are all over Iraq. The pipe line Cheney wanted to build in Iraq to Israel wont be coming to light.
Most of the experienced DOJ lawyers around the US are leaving because of a criminal Attorney General. Gonzales is the reason people are leaving for other jobs.
Hastert is retiring and taking the money with him. On PBS they showed how Hastert got a suitcase full of money from Brummer and the military plane land in the backyard of his second home to drop off the suitcase full of money.  Hastert turned a blind eye to Fingers Foley's conduce with kids.  
Mitt Romney brought 10.000 tickets for people to vote for him in the straw poll because it cost 35 dollars. I notice only 4200 voted for Mitt. Chris you do the Math.  The comment about his sons and the military hit home. My daughter serves in the military. Now what's strange is Mitt wants to continue to stay in Iraq and wants to attack Iran but doesn't want his 5 son's in the military.  Rudy is over the top and gone.  Is McCain still in the race?  Fred Thompson should send his resume to the TV show 24 because he will be needing a job.  When I read the results of the Iowa straw poll I was surprised at this dude name Hunter from California nothings been said about him out here. John Cox was another person who isn't known as a Presidential candidate. Mitt is letting us know up front he can buy the Oval Office without votes from the American people, he's got that kind of money.  
Chris I remember waking up one  morning hearing a President said " I will resign from the office of President at noon tomorrow",  I really hope I can hear those words from George W. Bush and take Cheney with him.
Chris you keep writing and I'll keep reading.
Chris:

Not sure if your comment will accept this, so if it doesn't, send me your email addy, and I'll send back the NYT Joshua Green link:

New York Times Link Generator

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No need to publish this comment - for your use only is fine.

Some news cycle, eh?
Forgot to give you a scoop: Dr. John Agwunobi - Asst. Sec HHS - leaving to work for Wal-Mart as health and wellness director (Wal-Mart needs someone to make nice to the AMA about supporting its retail health clinics). Agwunobi was former US Surgeon General Richard Carmona's boss - the one he complained about but did not name.  Gardiner Harris from the NYT reported that Agwunobi doesn't recall any complaints from Carmona.  So what and who cares?  Well Sec Leavitt of HHS trotted Agwunobi out on its bogus Pandemic Flu Leadership blog (actually run by PR firm Ogilvy), and he wrote posts that were full of wrong information and misleading info.  That "blog" is still up as a "Public service"  and Bush has since referenced giving HHS an "a" for pandemic flu planning, when in reality, the US has done nothing to plan and prepare.  Now - skip back to Carmona's House Oversight Committee testimony - he complained that his boss wouldn't let him take a leader role in the aftermath of Katrina.  And he is a trauma surgeon with lots of emergency preparedness experience.  It really looks like Agwunobi is the guy covering up the HHS  - carry the Bush partisan mess.  And public health is definitely in peril - look at NOLA health care post Katrina - suicides up, healthcare decimated, physicians leaving due to non-reimbursed services, hospitals not reopening, docs and nurses didn't return, etc.  The death rate is way up, and the lifespan is way down.  Lots of good stuff for Martin Savage, and a great story if you can uncover the Agwunobi interference with public health.  Just sayin'. ;^)  Links and story all on my blog, and I emailed Gardiner Harris to thank him, but no one else has all of this info.
Chris, I haven't been to the blog in a while and just discovered your posts.  I'm impressed.  You've given me a lot of reading material.  I look forward to what you have in store next.  
Chris,
Ever Wish Upon A Star?


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