Chronicle of the Conspiracy
Friday, December 05, 2008CAPITALISM IS NOT DEAD These guys aren't going to go begging for TARP money!
Posted by Donald L. Luskin at 10:40 AM | link
Thursday, December 04, 2008THE SIMPLE TRUTH
Christmas is when kids tell Santa what they want, and adults pay for it.
Deficits are when adults tell the government what they want, and their kids pay for it.
Thanks to Jameson Campaigne.
Posted by Donald L. Luskin at 4:37 PM | link
Wednesday, December 03, 2008BLOWING THE WHISTLE ON RUBIN For all the Democrats' decyring of excessive executive compensation, and blaming the current credit crisis on the Bush administraion, Clinton's Treasury secretary Robert Rubin stands out as a major embarassment. From this morning's Journal:
On October 18, 1999, Citigroup announced that former Treasury Secretary Robert E. Rubin was joining the firm. But what exactly would Mr. Rubin do at Citigroup? ...As a great man of finance, Mr. Rubin would be paid CEO money -- a total of $115 million since 1999, not including stock options -- but without having to run a business or be accountable for the results... The virtue of this arrangement for Mr. Rubin has become manifest during the current panic. While Mr. Rubin has acknowledged that he promoted the disastrous idea of exposing the bank to greater risk to boost profitability, his "no line responsibilities" job description now allows him to blame the line managers for the consequences of his ideas.
Posted by Donald L. Luskin at 9:09 AM | link
Monday, December 01, 2008WARNING TO PAUL KRUGMAN: DON'T VISIT LATVIA If spreading untruthful information is a crime there, then he's in big trouble:
RIGA, Latvia -- Hammered by economic woe, this former Soviet republic recently took a novel step to contain the crisis. Its counterespionage agency busted an economist for being too downbeat.
Posted by Donald L. Luskin at 8:52 AM | link