What an Operation!

From Ezra Klein at The Washington Post:

There’s been a lot of anxiety over leaks outlining the compromises being made in the Senate Finance Committee’s health-care plan. Among these compromises is a rejection of the public option and the absence of an employer mandate. Disappointing stuff. But, at this point, completely predictable.

Look at this picture. Study it. This is who is in the room helping Baucus put together his bill. Olympia Snowe, Mike Enzi, Chuck Grassley, Jeff Bingaman and Kent Conrad. In a Senate of 60 Democrats and 40 Republicans, the health-care reform bill is being written by three centrist Democrats, one centrist Republicans, and two conservative Republicans. And until last week, Orrin Hatch was in the room, too.

Original game

(l to r:  Mike Enzi, Chuck Grassley, Max Baucus, Olympia Snowe)

The Bonus Round

SAN FRANCISCO (MarketWatch) — Top Wall Street executives reacted harshly on Friday to proposed legislation that would punitively tax bonuses awarded to employees at firms receiving federal assistance.

Citigroup Inc. Chief Executive Vikram Pandit and Bank of America Corp. Chief Executive Ken Lewis issued strongly worded internal memos about the proposed tax legislation, according to the online edition of The Wall Street Journal, while J.P. Morgan Chase & Co. Chief Executive Jamie Dimon sought to reassure his top executives that the firm is engaging with lawmakers on the matter.
The legislation, passed by the House on Thursday, would impose a 90% tax on bonuses for employees making over $250,000 a year at companies receiving at least $5 billion in federal aid under the Troubled Asset Relief Program, or TARP.
Citi’s Pandit criticized the proposed legislation in a memo to employees on Friday, arguing that it could result in the firm losing top talent.

Original movie poster.

McCainomics 101

From Consortium News:

John McCain has been purging lobbyists from his campaign trying to reclaim the mantle of political reformer, but there’s one lobbyist whose role as a key economic adviser makes him almost untouchable despite ties to the sub-prime debacle, links to the Enron disaster and alleged evasion of ethics rules.

Former Sen. Phil Gramm, who was listed as a lobbyist for banking giant UBS as recently as December 2007, has emerged as what Fortune magazine calls “McCain’s econ brain,” filling McCain’s acknowledged void on economic expertise (“I don’t know as much about the economy as I should”).

Original DVD cover.