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Obama to bankers: 'It's a shonda!' (Or words to that effect.)

Eli Valley's 'The Shonda!'

PRESS CLIPSYou won't see edgy Bernie Madoff-related work like this in U.S. mainstream papers, but New York's own Jewish Daily Forward, as always, is up to the task of covering Jewish politics and news with a minimum of politically correct tiptoeing.

Above, an excerpt from Eli Valley's "The Shonda!" in the Forward.

Valley, sort of the Jewish version of R. Crumb, touts his work as "Ethnocentric Parochialism for the Whole Family!"

See Valley's profile on Jewcy.com, where I just discovered that, like me, he's a huge fan of noir-era cinematographer John Alton. No wonder I like Valley's work so much.

For more Madoff-related news that's not of the cartoonish persuasion, go to the end of this post for my daily Gelt Trip aggregation.

But first, please note that Barack Obama isn't being so politically correct either. Now in charge of a generally conservative country long dominated by profligate financiopaths, the nation's first black president is chewing out Wall Street bankers and generally acting like some kind of goldurned liberal.

Watch your back, my brother. And tell the Secret Service to do the same.

NO PARTICULAR ORDER:

N.Y. Times: 'Senators Approve Health Bill for Children'

A newly empowered Democratic majority brushed aside objections with a bill to insure four million children.

N.Y. Daily News: '23,000 JOBS FACE AXE'

15,000 teachers? Gone. Rebates for homeowners? Forget 'em. And that's just the tip of Mayor Bloomberg's shocking cuts.

Bloomberg: 'Hidden Bonuses Enrich Government Contractors as Taxpayers Pay $100 Billion'

N.Y. Daily News: 'Not again! 4-year-old disabled boy abandoned on bus'

A driver and matron were arrested Thursday after failing to drop a disabled child at school and then leaving him on the bus.

N.Y. Post: 'O SENDS ANGRY ME$$AGE'

President Obama delivered a blistering message to Wall Street yesterday, blasting the big-bucks bonuses doled out to fat-cat execs...

N.Y. Daily News: '15 yrs. for ma who killed, dumped baby'

N.Y. Times: 'Few Ways to Recover Bonuses to Bankers'

Wall Street Journal: 'U.S. Eyes Two-Part Bailout for Banks'

Top economic officials are discussing new efforts to help banks while trying to mitigate the cost to taxpayers. Obama stepped up his attacks on these banks, calling Wall Street bonuses "shameful."

Bloomberg: 'Investors May Pour Billions Into Tide Power as Obama, EU Push Green Energy'

Three decades ago, engineer Peter Fraenkel created an underwater turbine to use river power to pump water in Sudan, where he worked for a charity. Civil war and a lack of funding stymied his plans. Now, his modified design generates electricity from tides off Northern Ireland.

N.Y. Post: 'SURVIVORS' GILT: GIVE US MORE, US AIRWAYS PASSENGERS DEMAND'

N.Y. Post: 'THREE CANDIDATES KILLED AS ELECTION NEARS'

N.Y. Daily News: 'Workers waste no time erasing Blagojevich pictures, name from Capitol'

N.Y. Times: 'On His Way Out, Blagojevich Makes a Day of It'

On his final day as governor of Illinois, Rod R. Blagojevich was, by turns, furious, morose and full of gallows humor.

N.Y. Times: 'Suicides of Soldiers Reach High of Nearly 3 Decades'

At least 128 soldiers killed themselves last year, as the Army suicide rate surpassed that for civilians for the first time since the Vietnam War, according to Army statistics.

N.Y. Post: 'EX-COP SUIT IS FLUSHED'

A former cop seeking line-of-doody disability pay for breaking a finger on an overflowing toilet is spit out of luck, an appeals court ruled yesterday.

Bloomberg: 'Peres Says Israel's Ties With Turkey Unaffected by Erdogan Spat'

CNN: 'Alaska volcano "more energetic," scientists say'

N.Y. Post: 'ELIOT'S MADAM GETS 6 MONTHS'

N.Y. Post: 'ACCUSED PSYCH-CENTER RAPISTS DODGE JAIL TIME'

Three workers accused of raping underage girls at an acclaimed upper Manhattan psychiatric treatment center have pleaded guilty to misdemeanor endangering charges and will do no prison time...

Brooklyn Paper: 'City budget whiz says Bruce's Yards deal needs retooling'

N.Y. Post: 'DOORMAN'S COURAGE'

He chased down a lunatic serial stabber in Times Square, and lived to tell a jury about it yesterday.

"I don't know if it was more heroic or stupid," former W Hotel doorman Adam Szpiler, 32, said of his bravery after testifying against accused knifeman Kenny Alexis, charged with attempting to murder three tourists and a cook in a 13-hour rampage in the summer of 2006.

Wall Street Journal: 'Gaza Tensions Erupt At Davos Session'

Bloomberg: 'DVD Plunge, Viewer Shift to NetFlix May Force Studios to Write Down Films'

N.Y. Times: 'U.S. Says Jailed C.I.A. Mole Kept Spying for Russia'

Bloomberg: 'Citigroup Guarantees Test Obama Pledge to Tell Public More on Bailout Risk'

U.S. government guarantees on securities totaling $419 billion for bank bailouts provide an early test of President Barack Obama's pledge to be open with taxpayers about what they have at risk in the credit crisis.

N.Y. Times: 'Bloomberg Will Seek Increase in Sales Taxes'

N.Y. Times: 'M.T.A. Planning to Spend Stimulus on Fulton St. Hub'

The M.T.A. expects to spend $497 million in federal stimulus money to complete the stalled and over-budget Fulton Street Transit Center in Lower Manhattan.

N.Y. Times: '"Mourning" the M and R Subway Lines'

Transit advocates held a mock funeral to protest proposed service reductions on the M and R subway lines.

Wall Street Journal: 'Europe Basks as U.S.-Style Capitalism Draws Fire'

Add another voice to the chorus of city officials who say that the city should renegotiate its deal with developer Bruce Ratner, whose Atlantic Yards mega-project is in jeopardy due to the economic crisis.

N.Y. Times: 'Debate on Mayoral Control of Schools Is Renewed'

Onion: 'Blagojevich Claims Behavior Was Just Elaborate Plan To Surprise Patrick Fitzgerald With Senate Nomination on His Birthday'

N.Y. Times: 'Springsteen Promises High-Energy Halftime Show'


'BERNIE FACES BOOT'

MADOFF WATCHFrom the Post:

Start packing, Bernie.

Accused Ponzi schemer Bernard Madoff's luxurious penthouse apartment -- where he currently whiles away the hours under house arrest -- could soon be up for sale, the Post has learned....

[Real-estate] brokers have been invited by lawyers working for Irving Picard, the trustee appointed by a federal bankruptcy-court judge to oversee the liquidation of Madoff's Manhattan investment firm.

Picard presumably would use any sale proceeds to help pay back, at least somewhat, Madoff's creditors.

Because he must remain inside the two-story apartment as a condition of his $10 million bail, Madoff will be in awkward proximity to brokers when they eyeball its four bedrooms, at least five bathrooms, kitchen and library.

N.Y. Times: '2 Banks to Send Madoff Trustee $535 Million'

Vos Iz Neias?: 'Manhattan Banks Find $500M in Madoff Accounts'

Jewish Daily Forward: 'Madoff's Lawyer Plays Both Sides of the Court'

Wall Street Journal: 'Ex-Merrill Executives Got Burned by Madoff'

Bloomberg: 'Madoff `Dull But Steady' Returns, Internal Probe Didn't Alarm Notz Stucki'

Notz, Stucki & Cie., a Swiss money manager, probed and later dismissed concerns about Bernard Madoff investments, which offered "dull but steady" returns.

Entering a new phrase: Barack Obama's inaugural address

Eire on the side of the new president: There's no one as Irish as Bearach O'Bama.

Too short to be an oratorio, Barack Obama's inaugural speech (video) proved nevertheless that as an orator he's got handle.

That guy can speak. Notwithstanding our gratitude to George W. Bush for the past eight years of malaprops, listening to the new president yesterday was like going to the dentist for a deep cleaning followed by a thorough rinse.

Can barely even taste George now, can you?

Yes, the nation will have to endure several root canals, but for now, the public seems numb with delight about having a president who can speak our language and sounds like a grownup.

Considering that Obama will have to deliver more bad news to Americans than any other president in memory, we're fortunate that he's such a skilled and inspiring speaker.

It was already gratifying that we'll have a president who loves to play basketball. (As a former ballboy for the Phillips 66ers, I feel a special tug in the new president's direction.) But it's clear that no matter how much Obama likes to dribble, as a speaker he never drools.

One of the better analyses — up to a point — of Obama's inaugural address was Thomas DeFrank's piece in the Daily News:

Whatever triumph and travail lie ahead, Barack Obama has already delivered the most critical 2,401 words of his presidency.

It was part sermon, part tutorial, part call to arms, well-packaged and elegantly delivered.

Yet for all the inspiring, hopeful flourishes of his 18-minute inaugural address, Obama also served up a stark, tough-love message:

Grow up, guys. No more of the same old partisan, gridlocked, dog-eat-dog baloney or we're all doomed.

He declared war not just on global terrorists but on "the petty grievances and false promises, the recriminations and wornout dogmas, that for too long have strangled our politics."

Yes, Obama's speech was so stirring and well-delivered that it made even the most hardened cynics' knees buckle.

And DeFrank's analysis is smoothly written. But let's not get carried away about what DeFrank says about our having to "grow up."

We will not grow up — and by "we" I mean politicians and their "same old partisan, gridlocked, dog-eat-dog baloney." That will always be around, and every incoming president has to give us the same encouragement to pull together and forget the partisanship.

Yes, Obama had to say that, but partisanship is what democracies are made of, and other parts of Obama's speech were more memorable — like when he said:

"We are a nation of Christians and Muslims, Jews and Hindus, and non-believers."

You heard him. He actually included "non-believers" in there. What a refreshing change from the Bush regime, which tried to ram its evangelical nonsense down our throats.

Obama gave the obligatory shout-out to God, and I'm sure She's happy about that, but he actually directed a conciliatory phrase right at the Muslim world. Astonishing.

The new president, you might notice, pointedly did not portray the planet as the battleground of a comic-book-style "clash of civilizations." Instead, he actually tried to promote the idea that no matter what, we're all human.

Leave aside the lingering doubts that Dick Cheney is one of us. You have to hope that those words of Obama's will get under our skin and stay there.

Now, Obama, get to work on that New Great Depression.

And you out there: Start clicking on these items...unless you have to get back to work...if you still have a job...

NO PARTICULAR ORDER:

N.Y. Daily News: 'BAM'S MESSAGE: TOUGH LOVE FOR TOUGH TIMES'

Wall Street Journal: 'President Obama Urges Unity Amid "Raging Storms" of War and Recession'

N.Y. Times: 'Rejecting Bush Era, Reclaiming Values'

Though couched in indirect terms, the inaugural address was a stark repudiation.

N.Y. Post: 'DAY OF DESTINY FOR ALL AMERICA'

N.Y. Post: 'Fatal Kitty Toss'

N.Y. Times: 'Hope Mixes with Doubt as World Reacts'

Crain's New York Business: 'Queens housing market hit hard'

Wall Street Journal: 'Bush: '"We Led With Conviction"'

Crain's New York Business: 'Market tumbles 330 points on bank jitters'

On a day when America welcomed a new president, the Dow Jones industrial average fell 4 percent as investors worried that the worst is yet to come for banks.

FOX: 'Obama Administration Moves to Halt Guantanamo Trials'

Hours after taking office, the president orders military prosecutors in Guantanamo war crimes tribunals to seek a 120-day halt in all pending cases.

N.Y. Post: 'CITY TAKES BRUISIN' OVER SLIPPERY BRIDGE BIKE LANES'

Crain's New York Business: 'Report: Thousands of BofA layoffs coming this week'

Bank of America Corp. is expected to cut thousands of jobs in its capital markets business starting this week, and many will likely come from New York, a report says.

N.Y. Times: 'Top Newsday Editors Return to Work After Dispute'

Crain's New York Business: 'Is Cablevision meddling in Newsday's coverage?'

Newsday: 'Knicks center Eddy Curry slapped with sex suit'

Newsday: 'Lawsuit filed against Eddy Curry (Warning: Explicit language)'

N.Y. Post: 'NEWSDAY EDITORS "MISSING"' (Keith Kelly)

N.Y. Times: 'Trials for Parents Who Chose Faith Over Medicine'

Wall Street Journal: 'Tax Issue Won't Derail Geithner: Senators Are More Concerned With How Treasury Nominee Will Help Fix Economy'

Timothy Geithner will call for a comprehensive and aggressive approach to tackling the U.S. financial crisis when he appears Wednesday at hearings on his confirmation as Treasury secretary, while also trying to assure lawmakers that he simply erred by failing to pay some payroll taxes earlier this decade.

At the hearing, Mr. Geithner will likely be grilled over his tax missteps and his role in helping to craft the Bush administration's financial-sector rescue. But senators' seeming reluctance to derail his confirmation while the economy is sputtering and the lending freeze is worsening makes it likely he will be confirmed for the cabinet post....

Some lawmakers, including many Republicans, are also relieved to finally have someone to deal with other than [Hank] Paulson, whose handling of the financial rescue angered many on Capitol Hill.

"Republican leaders think that Mr. Geithner was one of President Obama's better cabinet selections. They believe they'll be able to work with Mr. Geithner and have honest conversations," said Sam Geduldig, a financial-services lobbyist and former aide to Rep. John Boehner of Ohio, the House Republican leader.

N.Y. Times: 'In Albany, Higher Taxes for the Rich Expected'

Wall Street Journal: 'Kennedy Has Seizure at Inaugural'

Wall Street Journal: 'Senate Confirms Raft of Cabinet Picks'

Wall Street Journal: 'Chrysler-Fiat Deal Needs U.S. Loans'


'Prosecutors Focus on Madoff's Point Man'

MADOFF WATCHFrom the Wall Street Journal:

As a key lieutenant to money manager Bernard Madoff for more than 30 years, Frank DiPascali Jr. said he headed stock-options trading and was the point man for investment-advisory clients who were told he executed their trades.

Now, he is a potential point man in the investigation of a Ponzi scheme that Mr. Madoff has told prosecutors he carried out over decades, according to a criminal complaint and people familiar with the matter, potentially bilking investors out of $50 billion....

Mr. DiPascali hasn't been charged with wrongdoing. His lawyer, Marc Mukasey, declined to comment about Mr. DiPascali's role with Mr. Madoff except to say that he had frequent contact with investors.

Crain's New York Business: 'Madoff victims likely to get little money back'

Investors in the alleged Ponzi scheme face a long and complicated legal process in order to recover funds.

'Times' declares war on news, gets right in your grille -- for a change


The Times as Jimmy Cagney and the reader as Mae Clarke. It's about time.


PRESS CLIPS

A banner day for the New York Times.

Newspapers that don't go out for blood are worthless. The Times often should be itself flayed because it so often doesn't take full advantage of its tremendous resources and usually undeserved clout and instead exudes arrogance and condescension.

This morning, however, its reporters slapped on their fedoras and got the goods, and their editors snapped out of it, rolled up their Brooks Brothers sleeves, and laid it on us.

Like Jimmy Cagney shoving a grapefruit into Mae Clarke's face in The Public Enemy (1931), Ethan Bronner's "U.N. and Red Cross Add to Outcry on Gaza War" calls a war a war and shoves the details into your face during your breakfast before you have time to take your first sip of coffee:

International aid groups lashed out at Israel on Thursday over the war in Gaza, saying that access to civilians in need is poor, relief workers are being hurt and killed, and Israel is woefully neglecting its obligations to Palestinians who are trapped, some among rotting corpses in a nightmarish landscape of deprivation.

You can see that Bronner's piece doesn't fiddle around with the paper's usual stiff, officious lede followed by some boring, pseudo-analytical claptrap about how something affects decision-makers.

Bronner's second paragraph is the kind of thing you usually see as the lede of such a story:

The United Nations declared a suspension of its aid operations after one of its drivers was killed and two others were wounded despite driving United Nations-flagged vehicles and coordinating their movements with the Israeli military. The United Nations secretary general, Ban Ki-moon, called for an investigation by Israel for a second time in a week after the more than 40 deaths near a United Nations school from Israeli tank fire on Tuesday.

The paper's still not up to speed on the fact that many Jews, both here and in Israel (particularly in Israel), are angrily opposed to the war on Gaza.

The peace movement among Jews gets prominent play in the vibrant Israeli press and in other outlets around the world. But not in the U.S. media.

However, you can always go to New York's own Forward, thank G-d, where the indefatigable Nathan Guttman's "Peace Groups Lose First Major Gaza Challenge On Capitol Hill: Attempts by Activists To Shape Resolution Come Up Short" opens a window on news that most of the rest of the U.S. press routinely ignores.

Enough of the negative stuff about negative stuff: The Times does deserve another kudos or two or three: Another example of today's fired-up Times is a Paris dispatch from veteran Alan Cowell, "Gaza Children Found With Mothers' Corpses":

The International Committee of the Red Cross said Thursday it had discovered "shocking" scenes -- including small children next to their mothers' corpses -- when its representatives gained access for the first time to parts of Gaza battered by Israeli shelling. It accused Israel of failing to meet obligations to care for the wounded in areas of combat.

Years ago, Cowell did a bang-up job writing such pieces day after day for the Times from apartheid-era South Africa. Now he's filing stuff about apartheid-era Israel.

Even the paper's editorial page this morning took off its kid gloves, dismissed its manservants and maids, and unleashed a sneer or two at its fellow Establishment members. Labeling the confirmation hearing for the new Secretary of Health and Human Services a "cuddly welcome for Mr. Daschle," the editorial board climbed down from the pedestal it has built for itself and started punching at the incoming Obama regime:

...The hearing before a Senate health committee was mostly a love-fest as senators from both parties expressed admiration for their former Senate colleague....

Unfortunately, the hearing did not tell us much at all about how the incoming Obama administration intends to pay for its emerging health care programs or how, for all of his smoothness at the hearing, Mr. Daschle will deal with the very real and very big differences his team has with Republicans on this and other vital issues.

Instead, the senators avoided asking such tough questions, and Mr. Daschle bent over backward to reassure Republicans that he would not try to ram anything too unpalatable down their throats....

A welcome dose of cynicism instead of the expected deadly dull civility and caution.

Yes, there are still some nits to pick in the Times, but this morning the paper emits a louder buzz than usual.

Tally-ho! Release the hounds! The paper usually acts more like C. Montgomery Burns hounding the beleaguered folk in Springfield. This morning, it's dogging a newspaper's proper targets.

While you're wiping the grapefruit off your face, click on these items, front-loaded this morning only with other Times pieces, most of which have surprisingly hard-hitting, newsy ledes...

NO PARTICULAR ORDER:

N.Y. Times: 'Latinos Recall Pattern of Attacks Before Long Island Killing'

N.Y. Times: 'Senate Allies Fault Obama on Stimulus'

N.Y. Times: 'As His Inmates Grew Thinner, a Sheriff's Wallet Grew Fatter'

N.Y. Times: 'Fatal Avalanches Rattle Ski Country in the West'

N.Y. Times: 'Bill Easing Unionizing Is Under Heavy Attack'

N.Y. Times: 'Nationwide Inquiry on Bids for Municipal Bonds'

The federal investigation that prompted Gov. Bill Richardson of New Mexico to withdraw his nomination as commerce secretary offers a rare glimpse into a long-simmering investigation of possible bid-rigging, tax evasion and other wrongdoing throughout the municipal bond business.

Three federal agencies and a loose consortium of state attorneys general have for several years been gathering evidence of what appears to be collusion among the banks and other companies that have helped state and local governments take approximately $400 billion worth of municipal notes and bonds to market each year.

N.Y. Times: 'For BlackBerry, Obama's Devotion Is Priceless'

Bloomberg: 'Excrement, Insulation, Bike Paths Trim CO2 Emissions in Cities'

Wall Street Journal: 'A Wolfe in Regulator's Clothing: Drug Industry Critic Joins the FDA'

N.Y. Post: 'KID PERV IN AIDS SCARE'

Bloomberg: 'Brokers Disdain Toaster Salesmen in Bank America's Merrill Deal'

N.Y. Post: 'SLAY FESS: REALTOR SENT ME OVER EDGE'

Wall Street Journal: 'Business Warms to Obama, but Frictions Loom on Climate'

N.Y. Daily News: 'Gotti hit man dips his foe in acid, but loves mommy'

N.Y. Post: 'CAROLINE HAS "A MINUS": GOV'

Wall Street Journal: 'Wall Street Is Big Donor to Inauguration'

N.Y. Post: 'JUST LIKE OL' CRIMES: NYPD'S LETUP STIRS FEARS OF '80S FLASHBACK'

N.Y. Daily News: 'Brooklyn Nets Arena cutbacks? Bruce Ratner scales back plans; Star architect Frank Gehry may go'

Wall Street Journal: 'Lehman Brothers Plans Private-Equity Spinoff'

N.Y. Post: 'UPSTATE "PONZI" HITS CHURCHES'

N.Y. Post: 'FORMER GOPER MIKE WANTS TO GET BACK IN'

Wall Street Journal: 'Bailout Pact Of GM, U.S. Would Block A UAW Strike'

Bloomberg: 'London Boom Time Bill Comes Due as Bankers Buy Coffee on Credit'

N.Y. Post: 'PUSH VS. TERRORIST "CELLS"'

N.Y. Daily News: 'I snapped & whacked her: Chilling confession in Linda Stein slay aired'

N.Y. Post: 'MTA'S "GREEN" BACKS'

N.Y. Post: 'NY CIVIL WAR BONES FOUND'

Wall Street Journal: 'Hedge-Fund Middlemen Get Pinched'

N.Y. Post: 'RATTNER BLOWOUT: BOTTLENECK DEVELOPS IN POSSIBLE CAR CZAR APPOINTMENT'

N.Y. Post: 'MORTGAGE RATES DROP'

Wall Street Journal: 'Chevron Warns of Hefty Drop in Earnings'

Bloomberg: 'Billion-Dollar U.S. Verdicts Vanish After Appeals, New Rulings'

N.Y. Post: 'DTV DELAY BACKED BY OBAMA'

Bloomberg: 'Obama Must Tackle Fannie, Freddie's Federal Ties'

Wall Street Journal: 'Panel Steps Up Criticism of Treasury Over TARP'

Bloomberg: 'Al-Jazeera Said to Mull Bid for English Soccer's Mideast Rights'


MADOFF WATCHBloomberg: 'Madoff's Three-Bedroom Riviera Retreat Belied Ponzi Scheme Role'

Bloomberg: 'Merkin Intimidated Co-Op Board While Building Funds Madoff Lost'

N.Y. Post: 'FINAL MADOFF PLUNDER PLAN'

Bloomberg: 'Uma Thurman No Help to Arpad Busson in Madoff Fraud's Nightmare'

Wall Street Journal: 'U.S.: Madoff Had $173 Million in Checks'

Bloomberg: 'Madoff Con Hits Boston, Home to Victim Shapiro, Ponzi'

We're saved! Yankees bail out New York City!

PRESS CLIPS Don't worry if you've been laid off, your kid's school has closed, your neighborhood's community center has had to shut down, your bank (revitalized by your tax money) is pestering you to turn over your home, the prices of booze and cigarettes have gone up again, subway fares are soaring, you couldn't afford to buy more than lumps of coal for your Christmas stocking, Bernie Madoff stole your gelt.

Taking the sting out of that: The Yanks signed Mark Texeira for $180 million in guaranteed money.

The local rags reported the great news as breathlessly as any hometown hack hinterlands newspaper would. From the Daily News:

In bagging free agents Teixeira, CC Sabathia, and A.J. Burnett, the Yankees have committed a guaranteed $423.5 million to those three contracts at a cost that will average $62 million a year. ...

Teixeira's contract pays him $22.5 million a year and includes a $5 million signing bonus as well as a no-trade clause. Together with Sabathia, Alex Rodriguez, and Derek Jeter, the Yankees have the four highest-paid players in baseball.

Rodriguez will make $32 million this year and (for now) gets to fuck Madonna.

You — and ordinary New Yorkers like you — helped make it all possible with hundreds of millions of dollars in public subsidies and free land. Take some pride in that. Even if you can't afford tickets to the games. Give yourself a pat on the back.

You also made New York Mets owner Fred Wilpon happy; the Mets got public money for their new stadium, making it possible for them to afford their new players.

But Wilpon wasn't as lucky as Alex Rodriguez. Fred got fucked, but it was Bernie Madoff who turned the trick and it cost Fred $500 million.

Aside from that, more good news for the rich people you subsidize: If you're one of those people who rents from city slumlord Isaac Toussie, raise a toast to him: George W. Bush just granted him a pardon.

Put a bucket under those drips and click on these ...

NO PARTICULAR ORDER:

Washington Post: 'The Dispirit of Christmas Present'

It's beginning to look a not like Christmas, everywhere you don't go.

Slate: 'Bogus Trend of the Week: Booming Evangelical Attendance'

A Gallup editor punctures a religion bubble at the New York Times. ...

Ordinarily when the Times traffics in a trend story, it indemnifies itself by quoting a skeptic on the other side of the issue or it tosses off a "to be sure" paragraph noting the weakness of its anecdotal evidence. Not here. Given this leap of faith, let's hope the Times isn't looking into the existence of Santa Claus. Imagine the headline: "Despite Naysayers, Hundreds of Millions Believe in St. Nick."

McClatchy: 'Salmon-tracking network upends some sacred cows'

Slate: 'Blago's Legal Eagles'

They're the guys who defended R. Kelly. Can they get the Illinois governor off the hook, too?

Wall Street Journal: 'Madoff Scheme Takes New Toll'

A sharper picture is emerging about the investigation into the alleged fraud by Madoff, how it evolved to ensnare bigger clients and how long it went on. ...

Earliest suspicions now date back to '91.

Slate: 'Cheney Fought the Law. Cheney Won.'

N.Y. Post: 'EX-BROKER FACES "HEDGE HOG" RAP'

A former securities broker was charged yesterday with helping disgraced lawyer Marc Dreier trick hedge-fund managers into making more than $380 million in bogus investments, authorities said. Kosta Kovachev, who lost his broker's license after being implicated in a time-share Ponzi scheme, is accused of impersonating various real-estate execs as part of Dreier's elaborate scam to sell hedge funds phony promissory notes, according to the feds.

Kovachev, 57, and Dreier reportedly sneaked into the Manhattan offices of Solow Realty to meet with hedge-fund representatives in October. During that meeting, Kovachev pretended to be the company's controller, according to a Manhattan federal court complaint.

L.A. Times: 'Chinese seek to pull cats from the menu'

Wall Street Journal: 'Obama, Two Aides Questioned in Probe'

N.Y. Post: 'PITY PONZI-POOR PENNEY'

Washington Post: 'SEC Chair Defends His Restraint'

Christopher Cox says agency's measured response to crisis has been his greatest contribution.

N.Y. Post: 'CITY BIGS FACE DEUTSCHE GRILL'

N.Y. Daily News: 'Suicide not a shock to other Madoff victims'

Washington Post: 'Madoff Investor Found Dead in Office'

Rene-Thierry Magon de la Villehuchet was found sitting at his desk at about 8 a.m. with both wrists slashed ... A box cutter was found on the floor along with a bottle of sleeping pills on his desk. No suicide note was found. ...

His fund enlisted intermediaries with links to the cream of Europe's high society to garner clients.

Among them was Philippe Junot, a French businessman and friend who is the former husband of Princess Caroline of Monaco.

De la Villehuchet, the former chairman and chief executive of Credit Lyonnais Securities, also was known as a keen sailor who regularly participated in regattas and was a member of the New York Yacht Club.

N.Y. Post: 'GOOD, BAD AND UGLY IN CITY CRIME STATS'

American Forces Press Service: 'Commander in Chief Recalls His "Great Days"'

McClatchy: 'California will see clout increase at both ends of Pennsylvania Avenue'

N.Y. Post: 'SHEL SHOCKER: BEWARE CAROLINE, HE WARNS GOV'

Assembly Speaker Sheldon Silver yesterday strongly suggested that Gov. Paterson reject Hillary Rodham Clinton's replacement - because she might be more loyal to Mayor Bloomberg than to the governor.

McClatchy: 'Flaunting, sales of luxury goods down'

BBC: 'Cocoa prices hit a 23-year-high'

... Cocoa traded in the US has also been rising, although not as strongly because of the strength of the dollar.

BBC: 'Dung souvenir based on holy phrase'

BBC: 'Sopranos actor cleared of murder'

BBC: 'NY Times admits to fake letter'

Washington Post: 'Shoe-Thrower Is Called Defiant'

Telegraph (U.K.): 'Pope says humanity needs "saving" from homosexuality'

N.Y. Times: 'Betrayed by Madoff, school adds lesson'

Jurist: 'Russia upper house gives final approval to presidential term extension amendments'

Jurist: 'Australia government lifts control order on ex-Guantanamo detainee Hicks'

Guardian (U.K.): 'Animal rights activists still target lab'

Four guilty of six-year campaign against companies linked to Huntingdon Life Sciences knowledge

L.A. Times: 'Afghanistan's President Karzai laments coalition use of "thugs"'

The leader of Afghanistan faults U.S.-led forces, saying they have hired warlords who have then been sent to mistreat ordinary Afghans.

Fellow Arabs honor journalist's feat

PRESS CLIPS Shoe-throwing journalist Muntazer Al-Zaidi must feel as if he'd died and gone to suicide-bomber heaven. At least one of his fellow Arabs is offering him a woman who may or may not be a virgin.

Sure, it's only woman, not the 72 promised to martyrs, but he's alive and she's alive and, well, you know. And she's thrilled about it, as Reuters reports from Cairo:

An Egyptian man said on Wednesday he was offering his 20-year-old daughter in marriage to Iraqi journalist Muntazer al-Zaidi, who threw his shoes at U.S. President George W. Bush in Baghdad on Sunday,

The daughter, Amal Saad Gumaa, said she agreed with the idea. "This is something that would honor me. I would like to live in Iraq, especially if I were attached to this hero," she told Reuters by telephone.

Start unlacing, baby. But until marriage, no tongues.

NO PARTICULAR ORDER:

N.Y. Times: 'Mukasey Recuses Himself From Madoff Investigation'

N.Y. Post: 'MTA OKS HIKE IN DOUBLE WHAMMY'

Agence France Presse: 'Chrysler halts manufacturing as clock ticks on gov't bailout'

Guardian (U.K.): 'Scientists debunk the myth that you lose most heat through your head'

Register (U.K.): 'New York "iPod tax" incites media bleating: Four-cent proposal twists knickers'

N.Y. Daily News: 'Just like humans! Yes, a squirrel can waterski, just like us! And we have video of the versatile squirrel in action.'

Reuters: 'Father offers daughter to shoe-thrower'

N.Y. Times: 'Obama Selects Evangelist for Invocation'

The inauguration role positions the Rev. Rick Warren to succeed Billy Graham as America's pre-eminent minister.

Wall Street Journal: 'Regulator Schapiro to Run SEC for Obama'

N.Y. Daily News: 'Lillo's smirks spur fury as jury deliberates'

Register (U.K.): 'Censored scenes from the Congress WMD report: Last minute bioterror rewrites?'

N.Y. Post: 'NYERS BET ON KENNEDY BUT WANT ANDY'

Guardian (U.K.): 'Antisemites feast on Madoff misery'

It has been a fertile financial week for bigots. The astonishing scale of corruption allegedly unmasked at the offices of Wall Street fund manager Bernie Madoff has caused disproportionate pain in the Jewish community, prompting unedifying sneers on the blogosphere. ...

Register (U.K.): 'Wikipedia self-flagellates over vanishing "farmsex": The missing Zoophilia edits'

N.Y. Post: 'SICK TRAN-SIT COP SLAY WIFE: HE WAS A CROSS-DRESSER'

A Queens cop shot to death by his wife earlier this year was a member of the "Hottie Police" — as a cross-dresser, her lawyer said yesterday.

Reuters: 'HIV infects women through healthy tissue: U.S. study'

Instead of infiltrating breaks in the skin, HIV appears to attack normal, healthy genital tissue, U.S. researchers said on Tuesday in a study that offers new insight into how the AIDS virus spreads.

They said researchers had assumed the human immunodeficiency virus, or HIV, sought out beaks in the skin, such as a herpes sore, in order to gain access to immune system cells deeper in the tissue.

Some had even thought the normal lining of the vaginal tract offered a barrier to invasion by the virus during sexual intercourse.

Register (U.K.): 'Yahoo! to! kill! most! search! engine! data! records! after! three! months!'

Register (U.K.): 'Don't delay: Delete your DNA today'

McClatchy: 'Kabul residents have more fear of gangs than of Taliban'

Washington Post: 'End of the Hedge Fund?' (Sebastian Mallaby)

... Because it is possible to commit undetected fraud, the industry will attract fraudsters; eventually, investors will realize that they can't tell the good guys from the bad and yank their money out. If this is going to happen, the Madoff scandal could be the catalyst, especially because it has hit at a time when hedge funds are in trouble for other reasons.

Hedge fund strategies depend on borrowing, or "leverage," which is hard to come by now. They often depend on "shorting" stocks -- that is, betting that they'll fall in value -- but regulators have restricted that practice. Even before the Madoff scandal, there were estimates that hedge fund assets might shrink from just under $2 trillion a few months ago to perhaps $1.4 trillion.

Guardian (U.K.): 'Iraqi officials arrested over coup plot against prime minister'

McClatchy: 'Salazar pick indicates big change at Interior Department'

Guardian (U.K.): 'UN tribunal jails Rwanda genocide mastermind for life'

Register (U.K.): 'Economists say European ancestors are what make you rich: No shit, Sherlock'

Bush makes Iraqis want to hurl

PRESS CLIPSAs various felonious and/or dumb-ass pols and athletes would say, let's try to get that sandalous incident in Baghdad behind us:

George W. Bush got the boot Sunday in Iraq.

(Chorus) Ha-ha-ha-ha-ha-ha, nyah-nyah-nyah-nyah-nyah-nyah.

If the shoe hits, wear it.

(Chorus)

No matter what size the shoes were, they're too big for Bush to fill.

(Chorus)

Just the presence of Bush makes you want to hurl.

(Chorus)

OK, that's enough for now. See my item yesterday for more (and for photos and a video link).

I'm even more embarrassed that, along with most others, I ignored the fact that of course Barack Obama's shark, Rahm Emanuel, had dealt with Illinois Governor Rod "Obama is a Motherfucker" Blagojevich about the Senate vacancy.

Obama was certainly careful not to ignore it, when he said last Thursday, "I have never spoken to the governor on this subject. I am confident that no representatives of mine would have any part of any deals related to this seat."

Deals, no, Dealings, yes. Nothing nefarious about having to deal with the guy who has the power to name someone to Obama's Senate seat. It would be shocking if Emanuel hadn't talked with Blago about it.

Speaking of throwing shoes, that's too good for Bernie Madoff. He needs to be beaten like a red-headed stepchild.

But the real whippings should be reserved for those banks, institutional investors, and already rich machers from Palm Beach to Beverly Hills to London to Geneva to New York who invested with the guy.

Here's the SEC complaint against Madoff.

But where was the SEC a decade ago? As the Wall Street Journal reported last week:

An executive in the securities industry, Harry Markopolos, contacted the SEC's Boston office in May 1999, urging regulators to investigate Mr. Madoff. Mr. Markopolos continued to pursue his accusations over the past nine years, he said in an interview on Thursday, and according to documents he sent to the SEC that were reviewed by The Wall Street Journal.

"Bernie Madoff's returns aren't real and if they are real, then they would almost certainly have been generated by front-running customer order flow from the broker-dealer arm of Madoff Investment Securities LLC," Mr. Markopolos wrote to the SEC in November 2005.

Finally, a hero on Wall Street.

But don't blame only the SEC. Wall Streeters and the pols in their pockets have for years tried to de-fang the SEC by reducing its funding and luring away top regulators with higher-paying jobs and having them lobby their old pals.

A steady drumbeat of "Deregulate, deregulate" was all you heard from Wall Street for decades. This is what happens when you don't regulate.

While you figure out how protect your millions from scamsters like Madoff ...

NO PARTICULAR ORDER:

Agence France Presse: 'Alwaleed still leads Arab tycoons despite losses'

Wall Street Journal: 'Google Wants Its Own Fast Track on the Web'

Google has approached major cable and phone companies that carry Internet traffic with a proposal to create a fast lane for its own content.

N.Y. Post: 'MADOFF SCAM BECOMES 'EARTH' QUAKE: $50B DISASTER RIPPLES FROM TOKYO TO GENEVA'

Times (U.K.): 'Bush says he saw "sole" of Iraqi shoe attacker'

Throwing shoes is particularly insulting in the Middle East — a crowd of Iraqis used their shoes to whack a toppled statue of Saddam Hussein after the 2003 invasion — and [Muntazer] al-Zaidi was today hailed as a hero across the region while colleagues called for his release. ...

His television station, Al-Baghdadia, repeatedly aired pleas for his release today while showing footage of explosions and playing background music that denounced the US presence in Iraq. ...

Abdel-Bari Atwan, editor of the influential London-based newspaper Al-Quds Al-Arabi, wrote on the newspaper's website that the incident was "a proper goodbye for a war criminal".

Abdel-Sattar Qassem, a political science professor at An Najah University in the West Bank town of Nablus, added: "This great Arab shoe sums up the history of the criminal Bush, who is responsible for the loss of lives of hundreds of thousands of Islamic sons and who remained arrogant, spiteful and mean-spirited until the last moment of his term."

Guardian (U.K.): 'George Bush: US will not walk away from Afghanistan'

Agence France Presse: 'Lebanese send more money home in 2008, but crisis may slow remittances'

Wall Street Journal: 'Emanuel, Blagojevich Aides Discussed Senate Seat: After Election, Obama Team Relayed List of Acceptable Candidates; No Evidence There Was Any Illegal Quid Pro Quo'

N.Y. Post: 'PATERSON IN A BLIND RAGE OVER SNL SKIT'

Wall Street Journal: 'Losses in Madoff Case Spread'

... In the wealthy Florida enclave of Palm Beach, four multimillion-dollar condos at Two Breakers Row, a peach-colored complex just north of the landmark Breakers hotel, on Friday and Saturday were put up for sale by owners who had invested with Mr. Madoff, said Nadine House, a prominent local real-estate agent.

Agence France Presse: 'Journalist hurls shoes at 'dog' Bush during surprise Iraq visit'

Washington Post: 'Bush Defends Iraq War During a Farewell Visit: Iraqi Journalist Hurls Two Shoes at Bush During Press Conference With Al-Maliki'

Wall Street Journal: 'SEC Had Chances for Years to Expose Madoff's Alleged Ponzi Scheme'

Economist (U.K.): 'Ponzi squared: Just when Wall Street needs it least, Bernie Madoff's pyramid scheme takes financial fraud to new lows'

Followers of the past year and a half's financial misadventures have become inured to bucketfuls of red ink. Even so, the potential losses from the scam perpetrated by Bernie Madoff, a Wall Street veteran, are jaw-dropping.

The $17 billion of investors' funds that his firm supposedly held earlier this year have all but evaporated and the hole could be as big as $50 billion. That would make it the biggest financial fraud in history.

Scotsman (U.K.): 'Banks braced for Madoff impact' (Martin Flanagan)

Great Dr Strangelove-type name for an alleged corporate fraudster of the highest echelon, isn't it? "Madoff." ...

It will certainly vindicate those who believed the next big domino waiting to fall in the banking game after sub-prime would be banks playing footsie, even indirectly, with hedge funds.


Mumbai mastermind reported captured

PAKISTAN WATCHAnd in a shocker, it was Pakistan that nabbed him.

Good news — for a change — from Pakistan: The suspected mastermind of the Mumbai Terror has been arrested in a raid, the Guardian (U.K.) and others report. And this happened inside Pakistan.

Here's how the Guardian tells it:

'Pakistan arrests Mumbai mastermind, reports say'

Zaki-ur-Rehman Lakhvi, named by sole surviving attacker as ringleader, held in raid on militant camp in Pakistani Kashmir

The suspected planner of last month's Mumbai terror attacks has been arrested in a raid on a militant group in Pakistan, an official close to the extremist organisation said today.

The official from Jamaat-ud-Dawa (JuD), the charity and education arm of the terrorist group Lashkar-e-Taiba, told Reuters that Zaki-ur-Rehman Lakhvi was among four men taken into custody after a raid yesterday on a camp outside Muzaffarabad, the capital of Pakistani Kashmir.

Lakhvi, one of Lashkar's operations chiefs, was named as a ringleader in the Mumbai plot by Ajmal Amir Kasab, the lone surviving gunmen captured after the attacks, according to Indian officials.

If these reports are true, then the arrest inside dangerously unstable Pakistan comes less than two weeks after the deadly November 26 attacks throughout India's version of New York City.

Compare that with 9/11. We're seven-plus years and counting and still no Osama bin Laden, who also was believed in hiding in either Afghanistan or Pakistan or both.

The best news about the arrest, if it's true and if Lakhvi really was the mastermind, is that Pakistan itself did the capturing. Maybe this will help ease the bitter fight between India and Pakistan, both of which have nuclear weapons.

Former strongman Pervez Musharraf and the scary Inter-Services Intelligence (Pakistan's CIA) long dragged their heels in the search for bin Laden.

Not so, apparently, regarding the Mumbai Terror ringleader. Of course, it wasn't ISI that did the capturing of the alleged Mumbai Terror ringleader. It was another Pakistan agency.

Only four days ago, the New York Times reported, in "Pakistan's Spies Aided Group Tied to Mumbai Siege," that the ISI shared intelligence with Lashkar and even provided protection for it.

The ISI did the same for bin Laden's crew. And in fact, ISI official Mahmoud Ahmad — who later turned out to have been Mohammed Atta's bagman — was having breakfast in D.C. on the morning of 9/11 with Porter Goss and Bob Graham, the chairs of Intelligence committees of the House and Senate. (See my August 10, 2004, item "Food for Thought.")

After 9/11, the two Floridians headed the formal congressional inquiry. Their breakfast with the Pakistan security official who was a bagman for one of the hijackers didn't make it into their 858-page report.

With that background, Goss was perfect for the job of CIA director, and three years after 9/11, George W. Bush gave him that job.

But this morning, at least, the news concerning Pakistan is good. If true, then the longtime undeclared war between Pakistan and India could be somewhat lessened.

On the other hand, Kashmir has always been the flash point between India and Pakistan, and it remains so.

Lemon aid: Please bail out Edsel!

1958 Edsel

Who cares that the Edsel's grille looked as if it were sucking a lemon?

PRESS CLIPS

In a piece dripping with acid of the citric variety, this morning's Daily News showcases some of Detroit's best blunders.

"Crash & Burn: Detroit's Biggest Lemons of All Time" offers a photo tour of the Edsel and 14 other relics, just to prepare you for the continuing sob stories by the people who now run the relics that are called Ford, Chrysler, and GM.

The Daily News list is clever and not as predictable as you'd think, because it includes Detroit disasters from all eras, including the Aveo and the Prowler.

But here's the problem: The Pinto and Chevette, for example, were clunky, and the Corvair was stylish but dangerous, but the Edsel was only stupid. Compared with today's bland vehicles, the Edsel was not clunky. In fact, let me get behind the wheel of the '58 model pictured above.

Ford may go bankrupt, but the Edsel must live on. In fact, if Ford does go under, its relics will only get more valuable. For the first time, even the Pinto would appreciate in value.

You might want to shop around for one of these lemons. When they foreclose on your house, at least you'll have a car to sleep in.

While I go out to beg spare change for gas money for these ancient Detroit guzzlers, stick to your keyboard and click ...

NO PARTICULAR ORDER:

Register (U.K.): 'Tell Santa to bring more assault rifles: America tools up for the inauguration'

Guardian (U.K.): 'Rice tells Islamabad US expects "robust" response to Mumbai attacks'

US secretary of state arrives in Pakistan hoping to ameliorate growing tensions with retribution-seeking India.

N.Y. Times: 'Mumbai Attack Is Test for Pakistan on Curbing Militants'

BBC: 'Italy Confronts Puppy Smugglers' (video)

Italy has launched a campaign calling for a Europe-wide effort to stamp out the illegal trafficking of dogs and other pet animals.

The credit crunch has given an added incentive for smugglers to import expensive breeds, which remain in high demand.

N.Y. Times: 'A Rush Into Refinancing as Mortgage Rates Fall'

Wall Street Journal: 'U.S. Makes a House Call'

Register (U.K.): 'Human rights court rules UK DNA grab illegal'

N.Y. Post: 'LAWYER'S DEADLY SECRET: SLAIN BY S&M MADMAN OBSESSED WITH VICTIM'S WHIP-MISTRESS GIRLFRIEND'

National Post (Canada): 'Crossing the blue line: The NHL relishes bloody noses, but won't tolerate Sean Avery's mouth'

BBC: 'Australia MPs "face breath tests"'

Politicians in an Australian state could be breathalysed before voting after reports of bad behaviour by MPs.

In the latest incident, New South Wales MP Andrew Fraser resigned from his frontbench role after shoving a female MP after attending a Christmas party.

In September, state police minister Matt Brown resigned after allegedly dancing in his underpants at a drunken party in his parliamentary office.

Several MPs have now backed a proposal to supply breath test kits.

N.Y. Post: '"PERV" SHOCK AT REUNION'

A retired NYPD cop attended the 20th reunion of his Brooklyn Catholic school — and later told cops he was shocked to find a teacher who had sexually abused him still working at the school.

Philip Repaci, 38, broke his 23-year silence to file charges.

Register (U.K.): 'Windows patching abysmal, and getting worse'

Fewer than one in 50 Windows PCs are fully patched, according to stats from users of Secunia's new patching tool, which suggest surfers are becoming even more slipshod with applying patches over the last year.

N.Y. Daily News: 'Police may throw flag on team'

The Giants knew Plaxico Burress shot himself minutes after it happened — but the team didn't report the incident for 8 hours.

Reuters: 'US must halt spread of nuclear, bio weapons -- Biden'

Financial Times (U.K.): 'Alarm raised on threat of mass assault'

Terrorist organisations would succeed in using weapons of mass destruction within five years unless the world community "acts decisively", according to a congressionally mandated commission set up to scrutinise WMD after the September 11 attacks.

"It is more likely than not that a weapon of mass destruction will be used in a terrorist attack somewhere in the world by the end of 2013," according to the report, released yesterday by the commission on the Prevention of WMD Proliferation and Terrorism.

Washington Post: 'Napolitano Calls Fighting Terror "Top Priority" '

Council on Foreign Relations: 'The U.S.-India Nuclear Deal'

Washington Post: 'Treasury Weighs Action on Mortgage Rates: Intervention Would Aim to Buoy the Housing Market by Forcing Down the Cost of Loans'

Register (U.K.): '"Faith-based" investment firm fingers holiday's most sinful games: Holy @&$#'

Washington Post: 'UAW Offers Detroit Concessions'

With Senate hearing on bailout set this morning, union retreats on health care, jobs bank.

Agence France Presse: 'Intelligence bodies rush to avoid Mumbai blame: experts'

India's intelligence agencies have descended into "civil war" following the Mumbai attacks that exposed the country's vulnerability to terrorism, analysts and experts said.

The country's various security bodies have long refused to communicate and now blame each other for failing to act on information that could have thwarted the terror strikes, they said.

A week after the attacks, and amid mounting public anger, reports are emerging that intelligence agencies knew India's financial capital may be targeted by extremists.

The Hindu (India): 'Ex-Pakistan Army officers, ISI trained Mumbai attackers: NYT'

BBC: 'Huge cut in UK interest rates'

The Bank of England has cut interest rates by one percentage point from 3 percent to 2 percent, their lowest level since 1951.

Washington Post: 'Obama Policymakers Turn to Campaign Tools: Network of Supporters Tapped on Health-Care Issues'

Barack Obama's incoming administration has begun to draw on the high-tech organizational tools that helped get him elected to lay the groundwork for an attempt to restructure the U.S. health-care system.

Former senator Thomas A. Daschle, Obama's point person on health care, launched an effort to create political momentum yesterday in a conference call with 1,000 invited supporters culled from 10,000 who had expressed interest in health issues, promising it would be the first of many opportunities for Americans to weigh in.

The health-care mobilization taking shape before Obama even takes office will include online videos, blogs and e-mail alerts as well as traditional public forums. Already, several thousand people have posted comments on health on the Obama transition Web site.

AP: 'Fla. congresswoman accidentally hangs up on Obama'

When a man sounding remarkably like President-elect Barack Obama called a Florida congresswoman Wednesday, she assumed it was a crank call.

So Republican Rep. Ileana Ros-Lehtinen hung up. But, the Miami Herald reports, this was no prank.

"I thought it was one of the radio stations in South Florida playing an incredible, elaborate, terrific prank on me," Ros-Lehtinen told the newspaper. "They got Fidel Castro to go along. They've gotten Hugo Chavez and others to fall for their tricks. I said, 'Oh, no, I won't be punked.'"

BBC: 'France unveils huge stimulus plan'

Register (U.K.): 'Berlusconi plans to use G8 presidency to "regulate the internet"'

Daily Flog: For the recession, some remedial English lessons

You load 16 tons and what do you get? Another day older and deeper in debt. But the standard weights and measures are so out of whack that, in Britain, 20 billion of their pounds probably won't outweigh those 16 tons that Wall Street's bankers carelessly offloaded on us.

At least the Brits are trying, even though it means even more debt. Yes, there's big news from Parliament today: a $30 billion stimulus plan to bail out commoners. But you wouldn't know it by the U.S. press outlets, most of which grossly underplayed the Labor government's scheme announced by Chancellor Alistair Darling.

No Henry Paulson, he. In the slowest race on record, the British beat us to a bailout of ordinary folk from the crisis dumped on us by Wall Street's collapse (check out the Guardian's "Obama v Darling: the plans compared" video.)

Over here, Barack Obama won't even commit to rescinding George W. Bush's brazen tax cuts for the rich that his handlers enacted in the early daze of the current GOP regime.

And the American way, apparently, is to talk about helping "consumers" — that's how we suckers are viewed by Wall Street types like Paulson, according to our press (see the New York Post's "Paulson Works to Ease Consumer Credit Crunch.")

Paulson wants to help Detroit sell us even more vehicles. In Britain, the government at least pays lip service by often referring to us as "people," not "consumers."

OK, we're in transition and Obama hasn't even taken over yet. But over there, the Yanks aren't coming, so the Brits are robbing Peter the rich guy to pay Paul the plumber. The question is whether Obama is listening. Or is he listening to your pay-me-and-other-average-Americans-no-mind guys like Larry Summers?

So far, at least Obama's words are soothing — and we saw how important even words are when Rudy Giuliani was portrayed as keeping it cool right after 9/11. In "Team Obama promises huge jolt to economy," the Guardian's Ewen MacAskill writes:

Asked about speculation that his package will cost between $700bn (£460bn) and $1tr, Obama declined to put a figure on it. He said it was necessary not only to have a thriving Wall Street but a thriving main street too. "We are going to do what is required to jolt this economy back into shape," the president-elect said.

Speaking at a press conference in Chicago, Obama signalled that he is moving at speed to try to reassure nervous markets as well as the public. His team would begin work straight away. "We do not have a minute to waste," he said.

It was a confident performance that contrasted with a short, stumbling appearance by President George Bush in Washington hours earlier to confirm federal help for the Citigroup bank.

Progressive or regressive, that's the question about our new regime, in light of the conservative Clintonian Democrats with whom Obama's surrounding himself.

In Britain, that question's been answered by the Labor government's plan (see the Guardian's glance). It calls for massive government borrowing, but it's a progressive agenda where the citizenry are concerned.

Gordon Brown and his henchman Darling laid out an attack that includes a tax hike for the richest 1 percent of Britons and a higher tax on gasoline. Plus an order to banks to delay foreclosures. Plus more help to homeowners in making mortgage payments. Plus an increase in child-care benefits. Plus £1.3 billion to help the unemployed. Plus a cut in the sales tax. Plus a vow to use government power to stop utilities from gouging their customers.

Plus higher taxes on such vices as national health insurance, alcohol, and tobacco (unfortunately, three things that are necessary for us to survive the onrushing Great '08 Depression). And this conscionable move, as the Washington Post's Kevin Sullivan reports in a story buried on page A8:

Darling, in his annual pre-budget address to the House of Commons, said the government also planned to dramatically increase borrowing to fund massive public spending on hospitals, schools, transportation and environmental projects.

So far, we're talking about the opposite approach in Britain to the recession. Shoring up social services, a higher tax on the rich? Doesn't sound like corporate welfare to me. What's wrong with those people? What, is Sheila Bair running Britain's bailout?

The Labor government didn't announce its plan to a roomful of respectful reporters. Sitting only a few feet away from Darling and Brown, the Tories jeered them. (Don't you just love parliamentary democracy?)

More from the WashPost story:

Opposition leaders immediately attacked the government's plans as reckless and misguided, especially its intention to fund an aggressive spending program by increasing its overall borrowing to $117 billion this year and $177 billion, or 8 percent of gross domestic product, next year.

"The chancellor has just announced the largest amount of borrowing ever undertaken by a British government in the entire history of this country," George Osborne, the Conservative Party's chief spokesman on economic issues, told lawmakers in response to Darling's report. "To pay for it he has placed a huge unexploded tax bombshell timed to go off underneath the future economic recovery."

Not much talk these days about who's at fault for this mess. (By the way, can we please put that old antisemitic canard about "international bankers" to rest? We didn't get into this mess because of them. The villains are Wall Street's bankers. Thank you.)

Now see this Oklahoman-American Jew's links to other news ...

NO PARTICULAR ORDER:

Washington Post: '$30 Billion Stimulus Announced In Britain: Plan Cuts Sales Tax, Boosts Borrowing for Major Public Projects'

Guardian (U.K.): 'Team Obama promises huge jolt to economy'

Wall Street Journal: 'Big Players Scale Back Charitable Donations'
"As the recession deepens, the future of charities that depend on corporate donations is becoming more uncertain."

N.Y. Post: 'It's About Time! Paulson Finally Makes Move to Help Consumers'

New Yorker: 'Thinking Big: The promise of universal health care' (Steve Coll)

Guardian (U.K.): 'US intelligence "kept files on Tony Blair's private life", claims ex-US navy operator'

Wall Street Journal: 'Chrysler Workers Fret Buyout Deadline'
"Chrysler workers are torn between accepting a buyout now or hoping to survive involuntary separations expected at year's end."

N.Y. Times: 'Economic Slump May Limit Moves on Clean Energy'
"A poor global economy and plunging prices for coal and oil are upending plans to curb the use of fossil fuels."

N.Y. Daily News: 'Cops nab man who drove 3,000 miles to shoot wife in church'

N.Y. Times: 'Saving Citi May Create More Fear'
"The government's bailout of Citigroup could lead other banks to take bigger risks."

Irish Times: 'Democratic triumph heralds realignment in US politics'

THE ELECTION of 2008 is history, but the battle over what it meant has just begun. Conservative analysts have insisted that although the Democrats achieved a sweeping victory, it does not indicate a fundamental change.

"America is still a centre-right country," as John Boehner, the House Republican leader, insisted soon after the votes were counted.

N.Y. Times: 'For Lobbyists, No Downturn, Just a Turnover'
"Republican lobbyists are feeling the demand for their services plummet as Democrats ascend in Washington."

N.Y. Daily News: 'Teacher and her pet'
"A Queens teacher, 37, fired for bedding a 17-year-old male model is suing to win back her job. He was no student, she says."

State secret: Is it Secretary's Day for Hillary?

Obama-NEXT-logo.jpgWill Barack Obama really hire Hillary Clinton to take dictation? Is he that into tragedy?

The view at Foggy Bottom is still murky. But it always has been. The low-lying D.C. neighborhood first earned that moniker because of fog and industrial smoke. Then the high-lying State Department HQ moved in, and the nickname gained even more credibility.

So just imagine Hillary Clinton ensconced in Foggy Bottom. She'll never be in Obama's inner circle, and she'll always be a pretender to his throne, so why should he name her and give her control of a huge part of the national machinery? She and her staff would be nothing if not passive-aggressive in their dealings with Obama's crew. Why would he want more smoke blown at him from Foggy Bottom?

Internal dissent is one thing. As a lifelong practitioner, I'm all for it. But it's something else altogether to hire a supremely self-aggrandizing pol who constantly works to undercut your authority and is your chief rival in the party and who would try to impose her own agenda — just for the sake of its not being yours, that it would be hers. You've worked with people like that, haven't you? That wouldn't seem to be the kind of drama that Obama desires.

He doesn't strike me as a King Lear. So why would he want to hire the wife of our former King Leer?

Maybe it's all a charade by him and his crew to allow her to save face — she'll finally say thanks for the gracious "offer" but her country needs her more in the Senate or some such B.S. like that.

Or maybe it's Hillary's crew that keeps spreading the word that she's in line for the job, and Obama's crew has shrewdly decided to just let them keep doing it if that's what it takes for Hillary to save face and for the party to keep from fracturing.

Don't forget: The country is officially in a recession, and an increasingly poorer and more fed-up populace already spells trouble for the Democrats for the mid-term elections in 2010. Even Jesus couldn't pull us out of this economic disaster by then, so you know that Congressional Democrats are already nervous about their new "mandate" for "change."

In any case, the newest immigrant to D.C. is both more intriguing than Clinton and less full of intrigue — at least from Obama's perspective. She's Arizona Governor Janet Napolitano, who's lined up to be the Homeland Security chief.

Janet be nimble. Check out the quick take on her in Phoenix New Times, which gave her a "Best Politician" award in 2006:

Janet Napolitano's the hands-down champion when it comes to political maneuvering around here. The mere fact that a woman who comes across as this butch can get elected governor and, before that, attorney general in Arizona (of all places) is testament to her political IQ. Plus, she's a bleedin' Democrat!

Somehow she's been able to avoid all the hot-button issues, or make us think she cares hugely about them without really doing much, and now the pollsters have declared her unbeatable . . .

Seems like a shrewd move by the Obama team: A female governor from a border state where immigration is a hot issue is now in charge of protecting the nation from terror.

And it could be a lot worse. Maybe a Republican would have chosen her exact opposite, the cartoonish Phoenix-based sheriff Joe Arpaio, for the job. For those who don't know, Arpaio is the notoriously hardline, publicity-grabbing Maricopa County lawman who runs what he proudly proclaims as the toughest jail system in the country. Being cruel to Mexicans and other people of color comes naturally to him.

In real life, Arpaio is a cross between Deputy Dawg and Barney Fife, without either of those characters' loveability. Arpaio was nothing but an ex-DEA-flunky crank when he used to pester reporters in Phoenix in the '80s — before Arizonans mystifyingly gave him a gun.

Remember Bernie Kerik, who had his five minutes in the D.C. sun as George W. Bush's putative Homeland Security czar? Joe Arpaio makes Bernie Kerik seem like Dwight D. Eisenhower.

As far as we know, controversy is not Janet Napolitano's middle name.

Judging by the way she skirts around things, she won't make waves. She's even more colorless than Tom Ridge, and she'll carry out whatever task Rahm Emanuel gives her.

Here's your task: Click on these . . .

NO PARTICULAR ORDER:

N.Y. Post: 'TRAGIC FIRE AT PET SHOP'

N.Y. Daily News: 'Dog takes car for run and crashes into L.I. shop'

N.Y. Times: 'After Losses, Pensions Ask For a Change'
"Some of the nation’s biggest companies want Congress to roll back rules requiring them to put more money into pension funds."

N.Y. Daily News: 'Team Obama thinks Hillary Clinton's people to blame for State speculation'

Register (U.K.): 'Google tells the world how to talk: Received Pronunciation not received, Scots scotched'

N.Y. Times: 'Teenagers’ Internet Socializing Not a Bad Thing'

L.A. Times: 'Antiwar groups fear Barack Obama may create hawkish Cabinet'

Register (U.K.): 'German bawdy house offers free entry for life: Willing punters queue for promotional brothel tattoo'

Washington Post: 'Stocks Slump As Signs Point To Harder Times: Key Indicators Suggest Deep Recession'

MarketWatch: 'Saudi Prince boosting Citi stake to 5 Percent'

Bloomberg: 'Alwaleed Buys Citigroup Stock as Loss Exceeds Buffett'

Washington Post: 'Auto Execs Fly Corporate Jets to D.C., Tin Cups in Hand' (Dana Milbank)

N.Y. Daily News: 'Fine to quadruple amputee — in days'
"She went to an ER suffering from what she thought was just a kidney stone, but a medical nightmare left her a quadruple amputee. Tabitha Mullings claims doctors failed to diagnose an infection that has literally eaten her alive."

N.Y. Times: 'New York Police Fight With U.S. on Surveillance'

N.Y. Times: 'Web Sites Wage Holiday Price Wars'

Washington Post: 'Let the Guy Smoke: Obama Is Probably Fibbing About Giving Up Cigarettes. That's Okay.' (Michael Kinsley)

Register (U.K.): 'Homework late? Blame Russian hackers: Teachers wise up to tech-based yarns'

N.Y. Times: 'Discussions With Clintons as Obama Creates Team'

L.A. Times: 'L.A. councilman seeks to protect celebrities from paparazzi'

L.A. Times: 'Prop. 8 gay marriage ban goes to Calif. Supreme Court'

L.A. Times: 'World grapples with pirate problem'

Register (U.K.): 'Filesharing ambulance chasers get into the gay smut racket'

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