The Post Election Thread

[Analogman]

Source

 

Coming soon to a bookstore near you...

 

 

Speculation is mounting that the Alaska Governor and former Republican vice presidential nominee is closing in on a deal that could net her $7 million to tell her story. Reuters reports that Palin is in high demand:

 

"Every publisher and a lot of literary agents have been going after her,' said Jeff Kleinman, an agent at Folio Literary Management.

 

Mediabistro doubts Palin is close to a deal, but the price tag would place her in pretty exclusive company. Few other prominent politicians have inked such lucrative deals.

 

At the top of the, ah, shelf: Former President Bill Clinton's deal to publish "My Life" in 2004. Clinton got over $10 million (AP puts the figure at $15 million) for his tell-all, and he delivered with record-breaking sales. Fueled by a public eager for lurid details of the Monica Lewinsky scandal, first-day sales of "My Life" topped 400,000 copies, a record for non-fiction that shattered the previous record held by none other than Hillary Clinton.

 

But the former first lady still did okay. She netted an $8 million advance to pen her 2003 memoir, "Living History" -- falling just shy of the standing record at the time for a non-fiction advance ($8.5 million for Pope John Paul II in 1994).

 

What about President Bush? He recently said he wants to write a book, telling CNN, "I want people to know what it's like to make some of the decisions I had to make. What was the moment like. I've had one of these presidencies where I had to make some tough calls."

 

Maybe so, but as President Bush prepares to leave office with historically low approval ratings and an economy in crisis, some in the publishing biz told AP that now is not the best time:

 

"'If I were advising President Bush, given how the public feels about him right now, I think patience would probably be something that I would encourage,' says Paul Bogaards, executive director of publicity for Alfred A. Knopf, which in 2004 released Bill Clinton's million-selling 'My Life.'"

 

It's a different story for First Lady Laura Bush, a former librarian who has also expressed interest in writing a memoir that, according to the AP, could fetch an advance rivaling Hillary Clinton's.

[mountain bed]

Actually, I'd be much more interested in reading Huckleberry's new tell-all, rip-Mitt-a-new-asshole book than any insane gibberish the Alaskan Governor would care to spew in book form. But that's just me.

[mfwahl]

I wonder if she writes like a bebop saxophonist

[MrRain422]

Minnesota Public Radio has posted to their website some of the challenged ballots in the recount:

 

http://minnesota.publicradio.org/features/...lenged_ballots/

[mfwahl]

Minnesota Public Radio has posted to their website some of the challenged ballots in the recount:

 

http://minnesota.publicradio.org/features/...lenged_ballots/

Lizard People 2012

[Moe_Syzlak]

I wonder if she writes like a bebop saxophonist

Will she be forced to ban the book for references to teen sex?

[Analogman]

Exclusive: Pritzker turns down Commerce

 

Mike Allen

[gogo]

Penny Pritzker... has taken herself out of the running to be secretary of Commerce because of vetting issues.

And also probably because it would just seem silly to have a Secretary of Commerce named "Penny".

[MrRain422]

Janet Napolitano to be Sec. of Homeland Security.

[explodo]

What do we all think about Daschle? I hate that guy, but he might be able to get something done.

[Duck-Billed Catechist]

http://www.boston.com/bostonglobe/editoria...try_for_a_ride/

[mountain bed]

Happy belated birthday to Joe The Vice President-Elect. 66 years old!

 

Y'all can hate on him all you want. I don't care, and I still think Barack made the right choice.

[jff]

What do we all think about Daschle? I hate that guy, but he might be able to get something done.

 

His new glasses aren't doing him any favors.

[Edie]

Interesting TIME article that I think sums up where the new cabinet is from and where it is going. I am a fan thus far.

 

The Cabinet So Far

Encouraging signs, with education reform still in the balance

 

Saturday, November 22, 2008; A14

 

ASSESSING THE emerging Obama administration is a bit like judging the design of the elephant without the trunk or tail. The president-elect's choices for some key posts, notably at the Defense Department, have yet to be leaked; few of the others have been formally announced. Nonetheless, an outline is taking shape, and it is encouraging in a number of ways.

 

President-elect Barack Obama's picks thus far are experienced, capable, smart and pragmatic. Those adjectives apply to New York Sen. Hillary Rodham Clinton (State Department), Arizona Gov. Janet Napolitano (Homeland Security), former deputy attorney general Eric Holder (Justice), former Senate majority leader Tom Daschle (Health and Human Services) and -- the most recent leakees -- Timothy F. Geithner, president of the Federal Reserve Bank of New York (Treasury), and retired Marine Gen. James L. Jones (national security adviser).

 

The assemblage so far also is diverse, and in the most gratifying way, which is to say, in a way that seems naturally occurring: No one can look at any of these selections and think that gender or race was the driving factor in the selection. The reported selection of Congressional Budget Office Director Peter R. Orszag to what could be Washington's most thankless task, heading the Office of Management and Budget (OMB) in an era of soaring deficits, is a good sign, as is the reappearance of Jacob Lew, OMB director in the Clinton administration, at the National Economic Council. A common thread among most of these selections is a deep understanding of the legislative process and congressional players.

 

A striking, and somewhat unexpected, element of Mr. Obama's choices is a degree of risk-taking and boldness. Rahm Emanuel as chief of staff is a smart but edgy pick. The will-she-won't-she Clinton soap opera suggests a tolerance for drama in the service of an all-star Cabinet. Likewise, the selection of Mr. Holder was bound to dredge up some unpleasant memories of the sordid flurry of pardons at the end of the Clinton administration; Mr. Obama's calculation that Mr. Holder's presence at Justice was worth the price of revisiting that scandal reflects a willingness to take some flak for the nominee he wants.

 

Some critics are unhappy about the number of Clinton administration veterans -- the derogatory word is retreads -- in the new administration. As we've said before, we have no sympathy for this complaint. The best thing the new administration has going for it in comparison to the last Democratic president is the amount of executive branch experience it has to call on. Mr. Obama's willingness to do that and to bring on board those who supported his chief rival -- indeed, to enlist his chief rival herself -- underscores his own confidence.

 

One missing piece is the promised bipartisanship, although retaining Defense Secretary Robert M. Gates would address that concern. Another selection that will merit scrutiny is Mr. Obama's education secretary: Will the choice reflect his stated commitment to reform? Will it be someone with hands-on experience in education and a proven willingness to experiment? While the new president's attention is understandably focused on the economy, not to mention the wars in Iraq and Afghanistan, it's critical to have someone who comes to the education post with those credentials.

[Panther]

Lizard People 2012

 

you know somethinmg most people don't know don't ya, cuz I know what you know if what you know is what I know

[Duck-Billed Catechist]

you know somethinmg most people don't know don't ya, cuz I know what you know if what you know is what I know

He's referring to a challenged Minnesota ballot that had "Lizard People" written in.

[Analogman]

Obama economic plan aims for 2.5M new jobs by 2011

 

 

By WILL LESTER, Associated Press Writer Will Lester, Associated Press Writer

[Edie]

This is one of the best editorials that I have read about what Obama (and all of us) face, from today's Washington Post.

 

And to comment on the PANTHER threads -- while I would *love* to see "fresh faces", the cold, stark reality is that the democratic bench so to speak, IS the Clinton era. These are the experienced folks who can get shit done. And if there is anything we need, it's to get shit done -- and fast.

 

 

Team Obama Rides In

Can Geithner & Co. Catch Up With the Crisis?

 

By Sebastian Mallaby

Monday, November 24, 2008; A17

 

 

 

Not a moment too soon, Barack Obama's economic team is taking shape. After a horrendous week on Wall Street, the leaked news of Tim Geithner's nomination as Treasury secretary sparked a wild rally on Friday; the weekend brought word that Larry Summers would take the top economic job at the White House, while Obama devoted his Saturday radio address to the promise of a large stimulus. But the new team needs to keep forging ahead. The financial hurricane has done the impossible and grown worse. Geithner and Summers cannot wait until January to come up with further remedies: Obama is in danger of seeing his presidency wrecked before he even takes office.

 

The financial crisis has morphed into several simultaneous crises that feed upon each other. The real estate bust crippled the banks. Crippled banks starved companies of credit. Starved companies laid workers off. Laid-off workers defaulted on mortgages, deepening the bust in real estate. By a similar process, crippled financial institutions stopped making auto loans, which caused people to stop buying cars, which pushed the carmakers to the brink. If the carmakers go down, a whole new round of job losses and mortgage defaults will slam into the financial system.

 

Because of these terrifying feedback loops, problems that were supposed to have been fixed are now back with a vengeance. It was a shock a year ago when the mighty Citigroup admitted to vast losses on subprime mortgages. Then Citi raised billions in new capital, and as recently as September it felt strong enough to bid for Wachovia, a bank with $700 billion in assets. But because home prices are still falling and default rates are rising, the billions Citi raised turn out not to be enough. Having announced it would cut 75,000 jobs, Citi looks likely to be the next bank to get a government bailout.

 

Dozens of banks, hundreds of companies and millions of households are potential Citis. All have planned their future on the assumption that assets are assets, not some kind of empty hologram. Yet, in the course of this crisis, an estimated $11 trillion in household wealth has been wiped out. Home values, 401(k) retirement plans, brokerage accounts -- poof, gone. It's hardly surprising that traumatized consumers are boycotting the stores, threatening yet more bankruptcies and losses for the banks.

 

Meanwhile, the crisis has gone global. As recently as September, Brazil's president could say, "People ask me about the crisis, and I answer, 'Go ask Bush.' It is his crisis, not mine." But today nearly every emerging market is in trouble, no matter whether it is an oil exporter or an oil importer, a manufacturer of electronics or a miner of copper. Each country's distress damages the export prospects of the next one. The vicious cycle spirals downward.

 

In an ordinary downturn, central banks have little difficulty breaking the fall. In 2001, for example, the Fed's interest rate cuts offset the technology bust by stimulating home construction. But this is no ordinary downturn. The Fed has already slashed interest rates and taken unprecedented steps to backstop the financial system. Congress has passed a fiscal stimulus and authorized the Treasury's $700 billion bank rescue plan; Fannie Mae and Freddie Mac, the two housing finance giants, have been effectively nationalized. But although U.S. policymakers have done more in less time than any economic team in history, they are nonetheless behind the curve. And every time they hesitate, the markets dive deeper.

 

The euphoric Wall Street rally that greeted the Geithner nomination underlined how investors are desperate for leadership. By promising a truly massive stimulus, Obama has shown he understands the need to change the psychology and break the downward spiral. But it will take time for the stimulus to feed its way into the economy, and Obama needs to come up with interim medicine that acts faster. The most promising option involves working quietly with the Fed -- something that Geithner, the Fed's outgoing New York chief, is well positioned to accomplish.

 

The Fed has the power not only to cut short-term interest rates but also to force long rates down. Imagine a class of mortgage securities that cost $100 and pay out $6 in interest annually, meaning that the interest rate is 6 percent. The Fed could announce its willingness to buy all such securities for $150, driving the interest rate down to 4 percent. The moment it did this, the value of banks' mortgage portfolios would leap, because the Fed would now be offering to buy them at a premium; meanwhile, families could fix their finances, because mortgage rates would be lower. The catch is that to buy all those mortgages, the Fed would have to print money, which could eventually cause inflation. And assuming some of the mortgages defaulted, the Fed's action would burden the budget, something it would be reluctant to do without approval from the new team at Treasury.

 

Calling upon the Fed to print money is radical. But desperate times demand creative remedies. Fortunately, Obama has chosen to surround himself with experienced technocrats -- pragmatists who excel at imaginative improvisation.

[Good Old Neon]

This is one of the best editorials that I have read about what Obama (and all of us) face, from today's Washington Post.

 

And to comment on the PANTHER threads -- while I would *love* to see "fresh faces", the cold, stark reality is that the democratic bench so to speak, IS the Clinton era. These are the experienced folks who can get shit done. And if there is anything we need, it's to get shit done -- and fast.

 

True, but these and many other familiar faces are the very same faces that stood idly by, or worse, helped to create (through deregulation, lack of oversight, their willingness to cater to the markets every wish and desire, etc) the environment that helped to pretty much ruin our (and the global) economy.

 

So you

[MrRain422]

I'm reserving judgment until I see how things go. Ideally I think Obama needs a healthy mix of fresh faces/ideas along with with some people who know how things work in Washington. Things are too dire right now for them to spend too much time just figuring out the logistics of the job.

[Edie]

I think he is going about this in a very pragmatic, thoughtful way; just as I thought. So far, his cabinet earns an A from me.

[Guest Jules]

shit sandwich

[LouieB]

Not exactly sure what people want......

 

LouieB

[mountain bed]

Not exactly sure what people want......

 

LouieB

I want loud rock music, free dope, and fucking in the streets - just as Abbie intended.

[MrRain422]

I would vote for you, mountain bed.