I had completely missed this story by Amit Paley until Michael Scherer put up a blog post about it. Basically, the Treasury Department completely bypassed Congress and the Constitution* to revise Section 382 of the U.S. Tax Code. The why of it is pretty obvious on its face. Paulson believes that we’re on the verge of another Great Depression and he intends to not make the mistakes of letting banks fail and contracting the money supply that caused the first one.
*you know, that pesky document that spells out and specifically states that Congress and only Congress shall have the power to tax the people and pass laws about taxation
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That’s the impression I got watching the game today vs. Texas. It’s kind of been the story about the team all year. Against high level competition Reesing doesn’t trust anyone else on the offense to do the right thing and he tries to score three TDs on every single play.
The only reason he didn’t have three or four interceptions today is because the Texas secondary covered themselves with football repellant prior to the start of the game. You’d think by just sheer chance one of the many, many ill advised prayer passes Reesing fired off would have been picked, but they weren’t. It’s trite to say, but until Reesing starts trusting the other ten guys on offense (and they start justifying that trust), KU isn’t going anywhere.
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There’s a lot of talk in the media and blogosphere about how we should let the Big Three automakers fail. Personally, I agree with it. The number of reasons the auto companies are in trouble is beyond count, and are almost entirely of their own making. They’ve been badly run. They’re slow to innovate, slower still to respond to the market, they make bad cars, etc. Horrifying legacy cost structures, outmoded business models.. the list goes on for quite a while. Even so, they can’t be allowed to fail for one simple reason: the Great Depression, circa 1929-1941 (ish).
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Sphere: Related Content Tags: Chrysler, depression, detroit, Ford, GM, paulson, treasury
