Unemployed, Day 24 | Video - Charlie Rose And Krugman

I've been on a bit of a sabbatical from "the Blog" for nearly a week. If I'm not checking job listings, I'm revising resumes and cover letters for job openings. If not that I'm doing those household chore thingies that we all love. I am "Mister Mom" at the moment. And if not that I'm immersed in World of Warcraft. If people tell you that that's not addictive don't believe it.
I signed with an employment agency last week. We'll see how that works out. I won't have my hopes up, but it would be the best revenge to come out of this with a better job. Now if that great puppeteer Soros would put me on his evil "Liberal" payroll I wouldn't have any worries buuut I just don't think that's gonna happen.
Anyhow while I'm here a bit here's a pretty good interview Charlie Rose did yesterday with Paul Krugman, Joe Nocera and Andrew Ross Sorkin on the latest bailout news. Getcher popcorn:



-

Nearly 200(And Counting) University Economists Plead With Congress To Bide Their Time On Bailout

And PLEEEZE whatever you do, DON'T listen to President 27%, or that guy(I think he was once a POW) that's running with Sarah Palin, the celebrity Guv.

Here's the economists:

To the Speaker of the House of Representatives and the President pro tempore of the Senate:

As economists, we want to express to Congress our great concern for the plan proposed by Treasury Secretary Paulson to deal with the financial crisis. We are well aware of the difficulty of the current financial situation and we agree with the need for bold action to ensure that the financial system continues to function. We see three fatal pitfalls in the currently proposed plan:

1) Its fairness. The plan is a subsidy to investors at taxpayers’ expense. Investors who took risks to earn profits must also bear the losses. Not every business failure carries systemic risk. The government can ensure a well-functioning financial industry, able to make new loans to creditworthy borrowers, without bailing out particular investors and institutions whose choices proved unwise.

2) Its ambiguity. Neither the mission of the new agency nor its oversight are clear. If taxpayers are to buy illiquid and opaque assets from troubled sellers, the terms, occasions, and methods of such purchases must be crystal clear ahead of time and carefully monitored afterwards.

3) Its long-term effects. If the plan is enacted, its effects will be with us for a generation. For all their recent troubles, America's dynamic and innovative private capital markets have brought the nation unparalleled prosperity. Fundamentally weakening those markets in order to calm short-run disruptions is desperately short-sighted.

For these reasons we ask Congress not to rush, to hold appropriate hearings, and to carefully consider the right course of action, and to wisely determine the future of the financial industry and the U.S. economy for years to come.

Signed...Link for signatures

Linked.

-