Glenn Beck: And you win by 3 points? That's a victory? You've double‑teamed an accountant and you only won by three points. Boy, you guys are good... That's like the Yankees playing a high school team and winning by three runs. Oh, wow! Here's what the Republicans should learn. The tea party movement, if you think you're going to run people that are going to be, you know, ACORN wannabes and they're just part of the corruption, part of the system, if you're going to run those people, you can expect a tea party guy to come out, and the tea parties, they'll help you lose every single election.
The Information Master: Jean-Baptiste Colbert's Secret State Intelligence System By Jacob Soll (University of Michigan Press, 277 pp., $65) That resonant piece of verbal shorthand, TMI--or Too Much Information--would make a fine epigraph for our age. Anyone with an Internet connection today has access to exponentially greater quantities of writing, images, sound, and video than anyone on earth could have imagined just twenty years ago.
Edward Jay Epstein has become the de facto historian of the Madoff scandal. Every time he and I speak, he has found another key to the master Ponzi schemer's evil genius. There was a time when the Securities and Exchange Commission trusted Madoff absolutely. So he was able to clear two other stock markets by saying that the documents they used in their defense were kosher.
Anyone who dug my post from last night should check out the op-ed in this morning's Wall Street Journal from former SEC Chair Arthur Levitt and former SEC Chief Accountant Lynn Turner. They do a much better job than I could of explaining the importance of mark-to-market accounting in reviving investor trust: "It's like your personal balance sheet," they write.