Wednesday, December 24, 2008

Economic Mess

Bush's Philosophy Stoked Mortgage Bonfire. By the NY Times. Excellent reporting. It's being billed as a devastating indictment of Bush, and while it doesn't reflect very well on him, I personally thought Paulson took it on the chin in that article.

With Stevens' Fall, a Pipeline for Lobbyists is Shutting Off. More NY Times. One lobbyist wrote, "“For those of us long on the dole, the coming reality will take some getting used to.”"

Entergy caught with hand in the cookie jar. Not a peep of this from the Times-Picayune. Entergy was caught by the state of Mississippi using the fuel surcharge line item on bills (which they are legally prohibited from making a profit on) to pad their profits. Will their be an investigation in Louisiana? I doubt it. Too many of our Public Service Commissioners like getting generous campaign contributions from Entergy.

At Siemens, Bribery was a line item. This is an unfortunate reality in many overseas business ventures. Reminds me of Enron's Dabhol Power Plant in India.

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