TARP, baby!

A mostly political Weblog.
Sept. 30 2008 8:21 PM

TARP, Baby!

Explaining Paulson's plan better than Paulson.

(Continued from Page 83)

Mike Murphy, a political consultant who helped Sen. John McCain (R-Ariz.) mastermind his 2000 campaign, will not be reboarding the Straight Talk Express. ... [snip].

With Steve Schmidt taking over operations last week, the matter is now resolved. Murphy will be seen on television and may offer McCain private counsel. But he won't be in the bubble. [Emphasis on overly definitive statements added.]

Yes, Murphy isn't coming on board in the current shakeup. But if McCain is still behind and flailing at the end of the summer, is he really going to say, "We resolved that matter of my campaign's structure back in July." Or is he going to panic and bring in Murphy? I don't know, but neither does Allen. (Or the NYT fool who titled Nagourney's item "Count Murphy Out for McCain Campaign.") ... Murphy certainly didn't close the door. ("I do not expect to join the campaign.") He had to say something to tamp down overheated reports of his imminent arrival.) ... Backfill: Zengerle refines his position. Search for "knife." ...

Update: Nor am I convinced that this brings "full closure" to the issue. Would NBC really not let Murphy out of his contract if he said he wanted to go run McCain's campaign? ... 1:23 P.M. link

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Jim Johnson's Legacy Builds: Politico gravy-train Fannie Mae in trouble  despite its massive implicit government subsidy, because new accounting rules would apparently require it to list billions of dollars of now off-the-balance-sheet mortgage guarantees as liabilities. Of course, the agency formerly headed by Obama's ex-veep-vetter  will probably wriggle out of the new rule thanks, as always, to political pressure:

"I would bet my firstborn that they will be excluded from the accounting change. It would bankrupt them," said Paul Miller of the investment firm Friedman, Billings, Ramsey Group.

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So everything's OK then! ... Backfill: Eerily prescient David Smith post here. See also this E-Z-2-Follow post on Fannie Mae's balance sheets. Cheap visual devices are used, and also the word "Augean." ... 12:35 P.M. link

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Monday, July 7, 2008

Getdrunkandvote4mccain.com The Republican base comes home, plastered. ... 1:49 A.M.

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