Swap The Worst President Ever for the 500 trillion dollars I heard exists in the form of credit default swaps. This sounds high and maybe it was all derivatives, but I think I heard credit default swaps. The point is that Bush allowed the lack of regulation to cause a probable melt down of the financial system. I think these vehicles should be the first to fail as sucker bets. And as speculation? I understand they are similar to insurance if entities default on their financial obligations, and to the extent I understand it, these sound like sucker bets. How much of the Tarp rewarded this behavior? We don’t know because of a lack of oversight that was warned of on this blog, and early on. The most swaps should be denied as possible. This without sinking the system. And as someone else said, banks that are too big to fail are too big.
And it’s time to pick on Charlie Rose again. I’ve said before he should not be underestimated, but I guess he is not to be trusted either. When he had the administration’s top Education person (Secretary?) on this week, Charlie failed to ask him about the controversy over a longer school day and year that is being proposed. I think such lengthening is a very bad idea. It is a further intrusion of government into the lives of minors, who seem to have few rights anyway. Anybody who has anything to do with summer jobs and vacations probably thinks it’s a bad idea too.
The guest did mention he thought school should be available till 6 or 7 pm. This sounds late, though students currently can stay late VOLUNTARILY if their schools haven’t had their extra-curriculars cut for finance.
On a more ridiculous note, Charlie’s voice has had way too much base lately. This is a simple, ridiculous technical issue – is this to prove he’s a tough guy? The education guy’s voice was normal. So was Nancy Pelosi’s last night, but Charlie had more base than my music CDs. The human voice doesn’t sound like that. People need to sleep around here, and he knows his show is on late. Tsk tsk. I just turned him down, couldn’t make out what he was saying, but who cares what blandness he was thump thump serving up? I heard most of her, and most of a great radio Cavs basketball game.