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Afternoon News Roundup

Billion Dollar Bash Merrill Lynch officially joins Morgan Stanley, Bear Stearns, Goldman Sachs and Lehman Brothers in reporting spectacular fourth-quarter losses. Their number: $9.8 billion. The optimistic reaction captured by Bloomberg is that this is the "kitchen sink" number, meaning, … Read More

By / January 17, 2008

Billion Dollar Bash Merrill Lynch officially joins Morgan Stanley, Bear Stearns, Goldman Sachs and Lehman Brothers in reporting spectacular fourth-quarter losses. Their number: $9.8 billion. The optimistic reaction captured by Bloomberg is that this is the "kitchen sink" number, meaning, "we hope it's all written down and they've thrown in [everything including the] the kitchen sink." Oh, and the Dow’s down 300. Have a nice day. So Insiders Like Change, Too? A bit of a rough day for Senator Clinton’s camp: their lawsuit challenging voting in casinos was thrown out. Meanwhile, Politico reported that Senator Leahy endorsed Senator Obama and that there is division within the Congressional Black Caucus over whom to support. And over at The New Republic, Yale and Yoo Emily Bazelon, at Slate, says that the issues raised in the Padilla vs. Yoo lawsuit are ones that ought to be decided by the judiciary. Yoo, in his own defense, responds to his critics who are celebrating the lawsuit. School Choice If you thought season four of The Wire was pessimistic about the future of American education, just wait until you see how one of the last bastions of hope regarding educational reform is considering their cause. It's adrift because they realize that vouchers may drive the system to market based efficiencies, but it won't address specific pedagogical failures. Keep Despair Alive "Ay, in the very temple of Delight/Veil'd Melancholy has her sovran shrine" Muscular Dialogues New York Magazine interviews David Mamet about his new play. During the Clinton years he contributed Wag the Dog to our political lexicon, and now he’s back to politics with November. Obviously, given his latest book (Bambi vs. Godzilla) and this play, he talks about art, commerce and politics. Ian McEwan discusses Saul Bellow, the adaptation of Atonement, that excruciating sex scene in On Chesil Beach and more. Here’s Hoping Some People Do Burn In Hell The New Yorker covers the story that even stunned Jezebel into bona fide moral outrage. I'm Quietly Judging You Defamer shows that the whole Tom subplot in Magnolia was just a dry run for these ten unbearable minutes of smug bullshit. It sure was a lot more poetic when P.T. Anderson was writing your lines, right Tom? And, don’t you dare laugh at this. They’ll sue you. Do They Speak English in "What?!" The L.A. Weekly expresses shock and anger at the decision by the Academy Awards to not choose 4 Months, 3 Weeks, 2 Days or Persepolis as candidates for Best Foreign Film. The Criterion Collection publishes a fun essay on the problem of creating cover art for the Weimar-era hell that is Berlin Alexanderplatz. And RUN FOR YOUR LIVES !!! Yes, Cloverfield is, indeed, a 9/11 allegory. I’m shocked.

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