Author Archives: Michael Froomkin

Wasserman Schultz Deserves Her Bad Publicity

According to Blast Off!: My date with Debbie, Rep. Debbie Wasserman Schultz isn't happy that some local blogs have been beating up on her for her stab in the back of our three strong local Democratic Congressional candidates.

Well, I'm sorry, but I'm with Daily Kos: Why we fight, or, why Debbie Wasserman Schultz is a problem: if she has a leadership role in the DCCC, not to mention Senatorial ambitions, this just won't do.

Update: More about this from Daily Kos. I think the nickname “Debbie Dubya” may be a little harsh, but I understand why people are upset about this.

Posted in Politics: FL-18 | 3 Comments

Evidence of Media Bias

Media bias is real and pervasive. Here's a great example: McCain compounds al Qaeda gaffe by repeating for a fourth time. Does this become a big story? Is it looped on TV? Does it get half the attention something a friend of Obama's said? Nope. Nope. And nope.

Posted in The Media | 2 Comments

Liquidty Trap Watch

Two days ago, Krugman said, “the one-month Treasury rate was 0.57; the three-month rate was 0.825” and he worried about a liquidity trap.

Then then Fed cut the discount rate 0.75%, to a low low 2.25 %. Would the T-rate crater? Apparently not.

This morning, Krugman says, the one-month T-bill rate is 0.539, the 3-month rate 0.728. Working the math out on my thumbs suggests that the change in the T-rate was a lot smaller than the cut in the discount rate.

I think this is actually sort of good news. It seems that although the Fed is running out of ammo, there's still a little elbow room left….

Update: for a gloomier view, see Calculated Risk, Financial Crisis: Third Wave Still Growing.

Posted in Econ & Money: Mortgage Mess | Comments Off on Liquidty Trap Watch

They’re Coming

Robert's Stochastic thoughts sees the future in the side mirror.

Posted in Science/Medicine | Comments Off on They’re Coming

The Speech: RFK or Adlai Stevenson?

As is so often the case Glenn Greenwald says it right when he describes this speech as a test of “Obama's faith in the reasoning abilities of the American public”.

I'll only add this: whether this is Obama's breakthrough moment, as it deserves to be, or his Adlai Stevenson moment depends on two things: first, whether the gatekeepers of old media, few if any of whom are friendly to Democrats, allow his rich and complex statements anywhere near a voter. I'm pretty dubious about that. The first news report I read was from AP. By Notorious Nedra Pickler. And it missed all the points, by some combination of malice, haste, and stupidity. On the other hand, the considered reactions of both the Washington Post and the New York Times are fair while not fawning. But it is still TV, broadcast and cable, and radio that reaches the largest audience. And on radio, one still can expect only the very worst.

The second chance comes from the Internet, which allows the candidate to bypass the filter. But will anyone outside the choir come to hear the preacher?

Posted in Politics: US: 2008 Elections | 4 Comments

Video of Obama’s “More Perfect Union” Speech

YouTube – Obama Speech: 'A More Perfect Union'

Posted in Politics: US: 2008 Elections | 1 Comment