Welfare reform rollback
Mickey’s all over it.
Yet another thing they snuck into the stimulus bill.Update
bleak reaction to Treasury's latest bailout plan: "Today was a day when you could feel New York City shudder." But we're rolling back welfare reforms and hauling out bogus job multipliers, as Obama stakes his presidency on treating the symptoms and not the problem. ... There's a chance that looks could be deceiving
when it comes to Geithner's plan. But insolvency is insolvency -- and the only one deceiving himself appears to be Geithner.Update II
-- Andy Kessler
The market has already figured out that the banks and their accountants haven't fessed up to bad loans and that their shareholders are toast.