Items of Interest:
Brian Faler / Bloomberg:
Democrats May Reduce Tax Cuts in Obama's Stimulus, Rangel Says -- Democrats in Congress may cut the share of the economic stimulus package dedicated to tax cuts below the $300 billion or more that President-elect Barack Obama is asking for, House Ways and Means Committee Chairman Charles Rangel said.
“The tax cuts will go in with 300 or less,” Rangel, a New York Democrat whose committee writes tax laws, said after a closed-door party meeting. He didn’t give details...
Discussion:Rory Cooper / The Foundry: Democratic Leaders Take ‘Tax Holiday’Ben Pershing / Capitol Briefing: Rangel Probe Awaits New Ethics ChairBrian Faughnan / RedState: House Dems Reduce Obama's Tax Cut to $230B - and Falling
Say goodbye to the big Citi -- Without a clear direction for the financial services giant, its rivals may one day own pieces of the empire that once was Citigroup.
Citigroup CEO Vikram Pandit is finally dismantling the house that Sandy Weill built, but will the businesses that remain form a durable, well-integrated player? Or will the remaining parts be so mismatched that Citi will need to liquidate? The sooner Citi's destiny becomes clear, the sooner banking will recover.
"Citi's future is casting a pall over the industry," says Nancy Bush, an independent banking analyst. "The world is asking, 'What will be left of their operating model?'" ...
- Let The Breakup Begin at Citigroup - Mara Der Hovanesian, BusinessWeek
- Bury The Legacy Of Sandy Weill & Free Citi Zombie - Roy Smith, Forbes
- Citigroup Must Shrink To Survive - Editorial, Wall Street Journal
- Citigroup Crisis Is Emblem of Capital Drought - David Reilly, Bloomberg
- Citigroup Needs a New Name. How About...Citicorp? - Market Movers
Ed Morrissey / Hot Air: Is Mexico near collapse?James R. Rummel / Chicago Boyz: My “I Told You So” PostDrillanwr / Pat Dollard: U.S. Military Report Warns ‘Sudden Collapse’ Of Mexico Is PossibleBilly Hollis / QandO: ENDING THE DRUG WAR: NOW A MATTER OF NATIONAL SECURITYFausta / Fausta's Blog: “U.S. military report warns ‘sudden collapse’ of Mexico is possible”Pastorius / THE ASTUTE BLOGGERS: U.S. Military Warns Of Potential Sudden Collapse of Mexico
John Robb / Global Guerrillas:
Industrial Education -- [The] costs for collegiate education have increased 4.39 times faster than inflation over the past three decades and has now eclipsed affordability for most households (median incomes have stagnated during this same period) with no appreciable improvement in the quality of graduates. Worse, there is reason to believe that costs of higher education (direct costs and lost income) are now nearly equal (in net present value) to the additional lifetime income derived from having a degree. Since nearly all of the value of an education has been extracted by the producer, to the detriment of the customer, this situation has all the earmarks of a bubble. A bubble that will soon burst as median incomes are adjusted downwards to global norms over the next decade.* ...
KC Johnson / Minding the Campus:
Was Nan Keohane Worse Than Brodhead?
- Fear Has Come Back To Wall Street - Colin Barr, Fortune
- Now Is The Time To Experiment with Policy - Dani Rodrik, Project Syndicate
- Maybe the Banks Should Be 'Hoarding' Money - Jack Guttentag, Y! Finance
- We Can't Spend Our Way To Prosperity - David Walker, Financial Times
- Unfairly Rewarding Greedy Bankers, & Why It Works - S. Pearlstein, WP
- Long Live Financial Supermarket - Holman Jenkins, Wall Street Journal
- Bank Lends Little of Its Bailout Funds - Lipton & Nixon, New York Times
- The Federal Reserve Is On a High Wire - Thomas Cooley, Forbes
- Which Is Better? Monetary or Fiscal Stimulus? - Daniel Gross, Slate
- January Effect Arrives Right On Schedule - Mark Hulbert, MarketWatch
- Will ExxonMobil Get Googled? - Mark Mills, The American Spectator
- Cheap Oil: Be Careful What You Wish For - Michael Klare, The Nation
- The Misleading New Deal Metaphor - James Piereson, The Weekly Standard
- Trade Gap Plunges; Feel Better Now? - Editorial, Investor's Business Daily
- Obama: Labor or Worker Friendly? - Steven Malanga, RealClearMarkets
- Barack: Beware the Money-Changers - Harold Meyerson, Washington Post
- What You Need To Know About The Morgan-Smith Barney Deal - WSJ
- Three Theories To Explain Citigroup's Reorganization - Curious Capitalist
- We Shouldn't Banish Those Who Missed the 2008 Collapse - Digital Rules
- Guess Where The Top 3 Richest Counties Are? - Radley Balko, Fox News
R.I.P. Patrick McGoohan, The Prisoner's TV Visionary --
"I am not a number, I am a free man!"Patrick McGoohan's character Number Six shouted at the panoptic eye in the sky at the beginning of every episode of the revolutionary '60s sci-fi TV series The Prisoner. And although the character would come to dominate McGoohan's life and even chase him out of London following the series' controversial 1968 finale, "Fall Out," McGoohan is a prisoner no longer.
The actor died Tuesday in Los Angeles at the age of 80, a still-underrated legend whose influence will no doubt grow larger as this still-new millennium unfurls...
BBC: Prisoner star McGoohan dies at 80Iain Murray / OpenMarket.org: RIP Patrick McGoohan, No. 6Mark Hemingway / The Corner: “I am not a number. I am a free man.”Michael Winter / On Deadline: R.I.P.: ‘Mr. Rourke’ and ‘The Prisoner’