Recalling The Collapse of a year ago.
The “I.B.G.” philosophy lives on. Read this, it will explain it.
Then there is “Tales from Lehman’s Crypt.”
TOM OLLQUIST remembers Sept. 9, 2008 — the day Lehman Brothers laid him off — as if it were yesterday. “You’re not going to believe it,” he told his wife. “I was shot.”
Federal regulators let the foundering firm slip into bankruptcy, a collapse that touched off the most perilous week of the financial debacle, after years of freewheeling lending, trading and regulation produced outsize losses that devastated the banking system and brought the economy to its knees. …
From Ron Brownstein the other day, which is a reminder of reality:
Thursday’s annual Census Bureau report on income, poverty and access to health care-the Bureau’s principal report card on the well-being of average Americans-closes the books on the economic record of George W. Bush.
It’s not a record many Republicans are likely to point to with pride.
On every major measurement, the Census Bureau report shows that the country lost ground during Bush’s two terms. While Bush was in office, the median household income declined, poverty increased, childhood poverty increased even more, and the number of Americans without health insurance spiked. By contrast, the country’s condition improved on each of those measures during Bill Clinton’s two terms, often substantially.
Meanwhile, Pres. Obama is going to make another speech, this one on the economy. Remains to be seen what action will be taken to help with job recovery and other middle class realities while Wall Street churns along.
Frankly, I’m speech weary. I don’t think I’m alone.
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