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My life as a media person just has all kinds of perks.
Because who doesn't want to be regaled with the minutiae floating around in my brain?
That's what I thought.
Knut the polar bear has turned from a cuddly cub into a publicity-addicted psycho, one of his keepers claimed yesterday.
Markus Roebke said Berlin Zoo's celebrity animal was obsessed with the limelight and howled with rage when denied an audience.
"Knut must go and the sooner the better," he said, insisting that the bear should be sent to an animal park where he received less attention.
Insert your tacky Hillary Clinton joke here.
Where's a green beer when you need one?The response of the Fed to this run has been radical and in the form of the extension of the lender of last resort support to non bank financial institutions. Specifically, the new $200 bn term facility allows primary dealers – many of which are non banks – to swap their toxic mortgage backed securities for US Treasuries; second, the Fed provided emergency support to Bear Stearns and following the purchase of Bear Stearns by JPMorgan, is now providing a $30 bn plus support to JPMorgan to help the rescue of Bear Stearns; finally, now the Fed is allowing primary dealers to access the Fed discount window at the same terms as banks.
This is the most radical change and expansions of Fed powers and functions since the Great Depression: essentially the Fed now can lend unlimited amounts to non bank highly leveraged institutions that it does not regulate. The Fed is treating this run on the shadow financial system as a liquidity run but the Fed has no idea of whether such institutions are insolvent. As JPMorgan paid only about $200 million for Bear Stearns – and only after the Fed promised a $30 billlion loan – this was a clear case where this non bank financial institution was insolvent.
The Fed has no idea of which other primary dealers may be insolvent as it does not supervise and regulate those primary dealers that are not banks. But it is treating this crisis – the most severe financial crisis in the US since the Great Depression – as if it was purely a liquidity crisis. By lending massive amounts to potentially insolvent institutions that it does not supervise or regulate and that may be insolvent the Fed is taking serious financial risks and seriously exacerbate moral hazard distortions. Here you have highly leveraged non bank financial institutions that made reckless investments and lending, had extremely poor risk management and altogether disregarded liquidity risks; some may be insolvent but now the Fed is providing them with a blank check for unlimited amounts. This is a most radical action and a signal of how severe the crisis of the banking system and non-bank shadow financial system is. This is the worst US financial crisis since the Great Depression and the Fed is treating it as if it was only a liquidity crisis. But this is not just a liquidity crisis; it is rather a credit and insolvency crisis. And it is not the job of the Fed to bail out insolvent non bank financial institutions. If a bail out should occur this is a fiscal policy action that should be decided by Congress after the relevant equity holders have been wiped out and senior management fired without golden parachutes and huge severance packages.
We thought that Chronicle readers would have their own ideas about how that building should be designed, and we invited people to send in designs on the backs of envelopes. About 120 people sent in sketches that were good, bad, serious, humorous, abstract, or really angry. Their designs took the form of toilets, bunkers, crosses, and W's, some crudely drawn and some very elegant. A sampling of those designs is displayed on these pages.
We invite readers to take a look at some of the designs we have posted here and to vote for the best one. You can scroll through the designs and choose the one you like the most, then go to the Forum poll and vote (Forums require a free chronicle account.) So as not to prejudice the voting, we will not fully identify contributors until the voting ends.
If you felt your vote didn't count in 2000, it will certainly count here. The winning designer will get an iPod Touch. Hail to the chief.
Hillary's snooze of a serif might have come off a heart-healthy cereal box, or a mildly embarrassing over-the-counter ointment; if you're feeling generous you might associate it with a Board of Ed circular, or an obscure academic journal. But Senator McCain's typeface is positively mystifying: after three decades signifying a very down-market notion of luxe, this particular sans serif has settled into being the font of choice for the hygiene aisle.
"Even if it were true that white women were more oppressed than black men" -- as Steinem suggested -- "that still doesn't mean you should vote for Hillary Clinton," Pollitt said. "It might mean you should fight for better enforcement of anti-sex-discrimination rules, but it doesn't mean you should vote for the candidate most likely to wage a war. "
[Billie Jean] King, the pioneering women's professional tennis player, was dismayed about Clinton's vulnerable candidacy. "I see my whole life going down the drain," Roberts recounted King saying. "A cute young guy comes in and sweeps away all the hard work that the older woman has done."
So I don't understand why more women don't relax, enjoy the innate abilities most of us possess (as well as the ones fewer of us possess) and revel in the things most important to life at which nearly all of us excel: tenderness toward children and men and the weak and the ability to make a house a home. (Even I, who inherited my interior-decorating skills from my Bronx Irish paternal grandmother, whose idea of upgrading the living-room sofa was to throw a blanket over it, can make a house a home.) Then we could shriek and swoon and gossip and read chick lit to our hearts' content and not mind the fact that way down deep, we are . . . kind of dim.
A March 7, 1996, article (accessed via the Nexis database) in the San Antonio Express-News reported that Hagee was going to "meet with black religious leaders privately at an unspecified future date to discuss comments he made in his newsletter about a 'slave sale,' an East Side minister said Wednesday." The Express-News reported:Hagee, pastor of the 16,000-member Cornerstone Church, last week had announced a "slave sale" to raise funds for high school seniors in his church bulletin, "The Cluster."The item was introduced with the sentence "Slavery in America is returning to Cornerstone" and ended with "Make plans to come and go home with a slave."
A July 27, 2006, Wall Street Journal article about Hagee noted the incident:
To help students seeking odd jobs, his church newsletter, The Cluster, advertised a "slave" sale. "Slavery in America is returning to Cornerstone," it said. "Make plans to come and go home with a slave." Mr. Hagee apologized but, in a radio interview, protested about pressure to be "politically correct" and joked that perhaps his pet dog should be called a "canine American."
Har har har! People are so sensitive about this whole people-as-property thing! Next thing you know, some uptight losers are going to get all bent out of shape over Holocaust jokes.