It's not a wonderful life
Because my money's in Citibank, which is now on the verge of going under, I feel like going down there and joining the panicky crowd to demand my money back.
I'll yell and shake my fist and insist on an explanation why my bank is going down the tubes despite the fees I pay for everything. And the ATM will just stare back at me, like HAL in 2001: A Space Odyssey.
There is no George Bailey reminding me how my bank deserves my trust.
There's only Henry Paulson — who gave Citibank $25 billion in bailout money before the bank's current crisis — telling me and everyone else who's not a Wall Street big cigar, "Tough luck."
It's not a wonderful life. And I'm not Saudi Prince Alwaleed.
And the U.S. is not No. 1 — at least for much longer.
For the latest details on how the U.S. meltdown is, like, bumming out the world, see this morning's Washington Post story "Financial System Suffers Relapse: Shattering Lull, Fears of Deep Recession Roil Markets."
The one place where commerce is on the upswing is on the House Energy and Commerce Committee, where Henry Waxman upended longtime chairman John Dingell. See my item yesterday, and read this morning's WashPost perspective-filled story, in which Paul Kane writes:
This is the first big muscle-flexing by the Obama team — it shows that he has the power to keep his fellow Democrats on Capitol Hill in line. There's no doubt it signals real change and reform, because that's Waxman's history. But does the Waxman victory really signal Barack Obama's environmentalism or is it payback?
During the Democratic primary, Dingell cast his lot with Hillary Clinton, while his superdelegate wife, GM lobbyist Debbie Dingell, supported Obama.
Who did Waxman cast his lot with? As the Australian outlet ABC pointed out in June, in an extensive interview with Waxman on its Lateline show:
Not speaking of real reform, the Washington Post reports this morning in an oh-by-the-way fashion:
Guess Obama just can't resist leftovers.
If your hopes of "change" were high, that news is the stuff of deflation.
And speaking of throwing away hard-earned capital: While you ponder how safe my money — and I suppose yours, too, if you want to be selfish about it — is in Saudibank (er, Citibank) . . .
NO PARTICULAR ORDER:
Times (U.K.): 'Recession stalks the world's economies'
hecklerspray.com: 'Remember The Spitzer Whore? What Does She Think About Stuff?'
ABC (Australia): 'Henry Waxman joins Lateline'
N.Y. Post: 'TEENS' HATE SPREE LED TO MURDER: DA'
Times (U.K.): 'Citigroup meets to consider rescue options'
Washington Post: 'Obama Team Springs Leaks'
Washington Post: 'Video Game Technology Gives Veterans New Lease on Life'
N.Y. Daily News: 'Queens jail guards face assault rap'
Washington Post: 'Falling Prices Raise a New Fear: Deflation'
N.Y. Daily News: 'Inspector in crane disaster snubs deal'
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