Just over an hour… Let me know what you think in the comments below! More as it develops…

Dipping into MF Global client funds to backstop the firm’s heavily leveraged high risk bets on European debt is about as serious as it gets. We’re talking – Federal Felony / Criminal Fraud / Grand Theft / Go To Jail / Do Not Pass Go / Do Not Collect $200 / Throw Away The Key / – that kind of serious. If tapping segregated client funds at a broker dealer is not criminal fraud, then it is at least criminal negligence for CEO Jon Corzine.

But…but…this goes against the Republican narrative! American Jobs Act — Final There really aren’t any controversial elements in here at all. Yes, Republicans are going to push back on any additional spending, but it’ll be hard for them to break this apart and only get the tax cuts through. So it’ll be up to them [...]

Apparently people are kind of tired of Mitt Romney. The graph… That’s an notable swing and it suggests that Perry is really making waves with diehard conservatives. Another notable trend…Ron Paul’s support continues to grow…and outpaces Bachmann’s. So it sees like the GOP nomination is between a few players. Romney, Perry, Paul and Bachmann. Perhaps [...]

Conventional Wisdom in both main stream and non-traditional media have passed judgement on both the debt ceiling legislation and the bipartisan deficit reduction super committee it begat. Conventional Wisdom informs us that we have seen this movie before and we know how it ends. Conventional Wisdom tells us the bipartisan Super Committee will fail. Problem being – Conventional Wisdom is wrong.

Republicans don’t want the Bush tax cuts to expire for the wealthiest, but they’re fine with letting the payroll tax cut that Obama passed last do so? Hmmm… The tax break extension they oppose is sought by President Barack Obama. Unlike proposed changes in the income tax, this policy helps the 46 percent of all [...]

An amazing editorial was published the New York Times yesterday. Not just because Warren Buffett lays waste to nearly every single “taxation kills investment” argument…but because he has lost his patience with those who don’t understand history. To start… While the poor and middle class fight for us in Afghanistan, and while most Americans struggle [...]

According to a new CNN poll, Republicans favorability ratings are tanking… A lot of that anger seems directed toward the GOP. According to the survey, favorable views of the Republican party dropped eight points over the past month, to 33 percent. Fifty-nine percent say they have an unfavorable view of the Republican party, an all-time [...]

I’m not trying to lay blame, but context about who has added more to this problem is important. Because Republicans voted to raise the debt ceiling every single time it came up under Bush 2.0 and now they’re not so cooperative. NY Times has more: A few lessons can be drawn from the numbers. First, [...]

Kent Conrad (D-N.D.), Mark Warner (D-Va.), Dick Durbin (D-Ill.), Mike Crapo (R-Idaho) and Saxby Chambliss (R-Ga.) just may have come up with something to bridge the gap between Dmes and the Repubs on the debt ceiling negotiations. It even has Tom Coburn (R-Okla.) coming back to the table… “The plan has moved significantly, and it’s [...]

This is one of those times that I don’t know if this is a brilliant political move or absolutely foolish. Wash Post has details… It works like this: The plan “would give the President the ability to request smaller increases in the debt ceiling — coupled with proposed spending cuts of at least $2.5 trillion [...]

JinBmore tells me what I don’t want to hear: I have two words for you: “President Bachmann”. They laughed about Reagan the same way they do about her. My immediate feeling is that independents and centrists will never vote for her and they will decide the 2012 election. After some consideration it seems that less-informed, [...]

I think David Brooks frames the debate pretty effectively… If the Republican Party were a normal party, it would take advantage of this amazing moment. It is being offered the deal of the century: trillions of dollars in spending cuts in exchange for a few hundred billion dollars of revenue increases. A normal Republican Party [...]

Truly a double header. Not only does the New York Times provide a reasonably accurate description of the virtues of divided, but we also get their graphic version of the tortured creature known to us fondly in these parts as the “Donklephant”.

I know I’ve been silent about the Anthony Weiner scandal, and for that you have my apologies. Other things have taken priority. Still, it wasn’t a Dem/Repub thing, it was just a timing thing. So, having said that, why isn’t this guy stepping down? Talking Points Memo cites a poll: In the poll, 56% of [...]

I wouldn’t want to be Donald Trump today. Ouch. Obama’s part opened with the theme song “I Am A Real American,” and it just got worse for Trump from there. Trump jokes are at 9:45 in, but you’ll probably want to watch the whole thing. And then SNL’s Seth Meyers weighed in. His Trump jokes [...]

In March we reported that Gabrielle Giffords was talking in full sentences, although it wasn’t easy. Looks like that’s still the case, but now she can use the left side of her body as if nothing had happened. “Her left side is perfect,” (Giffords’ Chief of Staff Pia) Carusone says. “She can do whatever you [...]

It was forceful, it was direct and it was very pointed in putting the lie to the Ryan’s budget cuts that don’t include any revenue plans. And let me say this for the record…Ryan’s plans are cruel. He had a chance to lead on this, but he failed. In any event, Obama said that EVERYTHING [...]

I’d argue that nearly all politicians do the following, which is nothing more than organize their messaging so they get on the same page, but only Dems would figure out a way to get caught doing it. From NY Times: Moments before a conference call with reporters was scheduled to get underway on Tuesday morning, [...]

Taiwanese animations are the future of all mainstream news. The folks at NextMedia have distilled US TV news, newspaper commentary, blogs, and twitter feeds on the Wisconsin standoff into an easily digestible two minute animation. As far as the legislative standoff is concerned, this is a foregone conclusion. Polls do not support the AWOL Wisconsin Senators. The Wisconsin State Assembly passed the Walker Budget Repair Bill after beating back a filibuster and the Senators will have to return sometime or be recalled. The protesters in Madison will have to go back to work or be fired. The Republicans have the votes and Walker has the will. Done deal. I think it is all Kabuki Theater in Wisconsin from this point.