The New Republic

A friend who works at a progressive think tank in town forwards an amusing e-mail exchange between two wonk colleagues--replete with customized graphics! Wonk 1 writes to wonk 2: Subject: Coke Machine Anyone know if we can get the coke machine to accept stock certificates in addition to dollar bills? A 20 oz. coke costs one share of Citigroup. Wonk 2 responds: READ MORE >>

A few important addenda to my earlier item about the links between Goldman and AIG, which the Times editorial page took up today. READ MORE >>

There's been a bit of hand-wringing these last few days over whether Obama's proposal to cap tax deductions for the affluent would lead to a big reduction in charitable donations--in his column today, David Brooks writes that, "[I]n its very first budget, the Obama administration raises the cost of charitable giving." READ MORE >>

Two quick AIG thoughts, both of them relating to who it is we're bailing out by propping up AIG. READ MORE >>

Via Matt Yglesias, I see the blog Fistful of Euros has a long and interesting (but somewhat technical) post arguing that Europe is rapidly heading into deflationary territory--deflationary spirals being bad because they bring about depressions. READ MORE >>

A plugged-in source points me to Goldman's latest economic forecast, which anticipates -7% GDP growth this quarter and -3% GDP growth next quarter, down from an earlier forecast of -4.5% and -1%, respectively. What's remarkable about the change, though, is that the new numbers factor in the stimulus, whose effects Goldman thinks will be significant (and positive), whereas the old forecast didn't. And yet they still have the economy contracting by much more than previously thought. Kind of gives you an idea of what we're up against...   READ MORE >>

In his prepared testimony for the Senate Budget Committee today, Fed Chairman Ben Bernanke, a Bush appointee, voices support for the stimulus: READ MORE >>

Bloomberg reports that Council of Economic Advisers appointees Ceci Rouse and Austan Goolsbee have been caught up in a Senate crossfire and have yet to be confirmed: March 2 (Bloomberg) -- President Barack Obama’s economic advisers are increasingly concerned about the U.S. Senate’s delay in confirming the nominations of Austan Goolsbee and Cecilia Rouse to the White House Council of Economic Advisers. READ MORE >>

Amid the news today that the federal government will pump up to $30 billion more into the insurance giant AIG and ease the terms on its earlier infusions, I decided to ask former AIG CEO Maurice R. "Hank" Greenberg for his thoughts on what's become of the company. Greenberg spent over 35 years running AIG, building it from an obscure, second-rate insurer to one of the largest companies in the world before stepping down in 2005. READ MORE >>

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