September 22nd, 2008

caillebotte_the balcony

A Rare Entry Partly About Actual Current Events

For the edification of the curious, here are some links to stuff about Senator Dodd's modifications to the Bush administration's plan for the $700,000,000,000 they want Congress to authorize for the rescue of the collapsing mortgage industry:

Brad DeLong's post of the entire text of the Dodd proposal.

A quick summary of the Dodd proposal's major points in a Bloomberg News article. This link is handy for those whose eyes glaze over when reading bureaucratic language. As a bonus, it includes a couple of amusing quotes from the suddenly-Socialist John McCain— he really ought to be more careful about zooming back and forth between right and left at his age, lest he get severe whiplash.

A section-by-section post of the entire Dodd proposal from Public Markup, which includes comments on each section. The few comments on the landing page are mostly brain-dead trollery, but the comments on the sections are mostly thoughtful and worth reading.

"Daddy Doesn't Know Best"; Paul Krugman's brief but deadly acurate potshot at Paulson.

And here's something more detailed about why the original Bush/Paulson (read "Charlie McCarthy/Edgar Bergen"— or maybe "Mortimer Snerd/Edgar Bergen" though I know that many under forty will not get the reference, let alone the distinction) proposal is Not A Good Idea:

"Cash for Trash", by Paul Krugman again.

I've sometimes semi-wished that Chris Dodd had been Obama's Vice-Presidential pick, rather than the RIAA-loving and privacy-hating Joe Biden, but then if he'd had to be out campaigning he might not have had as much time to be taking on the Paulson juggernaut. Somebody has to put some backbone into the Democrats— especially the Blue Dogs— on this issue or, even at this late date, they'll be rolling over for Paulson as quickly as Bush did, and as quickly as they have rolled over for Bush himself so many times before.

And because it's likely that nobody reads this journal for current events, here's the weather report:

The equinoctial (yes, that's a real word) night smells decidedly autumnal, with the scent of decaying oak leaves predominant. The gentle but chilly north breeze brings a whiff of pine as well, and already I can hear the stronger wind blowing through the canyon and imagine the bite of the coming winter. Yet my generous (perhaps extravagant) watering has preserved a few blossoms on the jasmine bush, and leaning in to sniff them I can smell the ghost of spring, and of the early summer that was ruined by the wildfires. A whole year concentrated in one crisp night! The waning moon is not yet risen, and dawn is far off. I anticipate hours of meteorological delight.