Corn has broken stories on presidents, politicians, and other Washington players. He's written for numerous publications and is a talk show regular. His best-selling books include Hubris: The Inside Story of Spin, Scandal, and the Selling of the Iraq War.
Going after Alan Greenspan, the former Federal Reserve chairman, these days is like shooting dead fish in a drained-out bathtub. But Thomas Edsall spanks the onetime Oracle something awful in HuffPo. The piece opens:
On June 10, 1999, at the height of his power, Alan Greenspan told members of Harvard's graduating class how, in the future, they should assess their lives: "The true measure of a career is to be able to be content, even proud, that you succeeded through your own endeavors without leaving a trail of casualties in your wake."
As Edsall goes on to detail, there's now plenty of bloody mess in Greenspan's wake. He notes that Greenspan had a hand in most of the major regulatory actions (or, put more accurately, non-actions) that led to the current collapse of capitalism as we (and he) know it. These days, the former acolyte of Ayn Rand is advocating the "temporary" nationalization" of "lemon banks" to "facilitate a swift and orderly restructuring." From free-market laissez-faire to corporate socialism, what a long, strange trip it's been. Too bad he took the rest of us on it.
On Wednesday morning in Phoenix, President Barack Obama unveiled his $75 billion (and maybe more) home mortgage crisis plan. The package is a grab-bag of provisions. The main ones aim to refinance mortgages for 4 to 5 million "responsible homeowners," to set up a "stability initiative" to help 3 to 4 million "at-risk homeowners," and to reduce overall mortgage rates by committing more money to Fannie Mae and Freddie Mac. Obama also noted his support for changing bankruptcy rules so judges can lower home mortgages for borrowers in bankruptcy. Overall, the details are, at this point, vague. And there's no telling if any of this will work--and arrest a possible death spiral in the real estate market. Policy wonks and partisans will argue over the various components. But what was apparent was Obama's skill as an effective policy pitchman.
The speech hit several important themes for Obama: community, populism, and responsibility.
Barack Obama was in Denver on Tuesday afternoon to sign the $787 billion stimulus package--a.k.a. the American Recovery and Reinvestment Act. The occasion was historic. Less than four weeks in office, Obama had won approval of a serious piece of legislation--a tremendous blast of spending and tax cuts designed to boost the collapsing economy. And Obama was laying down a marker: he was promising this measure would save or create 3.5 million jobs. This was a big deal. He was defining his presidency.
What was also intriguing was the atmospherics of the signing. Obama put his John Hancock on the law at the Denver Museum of Nature and Science. And as part of the signing ceremony there, Blake Jones, a leader of Namaste Solar Electric, a Boulder-based company that designs, builds, and installs solar panels for homes and businesses, introduced Obama. Namaste had installed solar panels on the roof of the museum, and earlier in the day, Jones had given Obama a tour of the panels.
John McCain, in defeat, isn't retreating.
On Monday, he sent out a fundraising appeal, noting that he is running for reelection to the US Senate in 2010, when he will be 74 years old.
The short fundraiser, which was signed by McCain, was notable in one regard: he blasts congressional Democrats and says nothing negative about President Barack Obama:
A decade ago, Nevada's congressional delegation won a grant from the Environmental Protection Agency to fund drinking-water improvements in rural areas of the state. The aim was to ensure the water supply in these locales was free of dangerous levels of various chemicals, including the rocket-fuel additive perchlorate, a potential health hazard. The amount of money was modest—$12.5 million—but that didn't stop the state's federal legislators from crowing about their accomplishment. Richard Bryan, one of Nevada's two Democratic senators at the time, proudly declared that Nevadans had a right "to safe, clean drinking water."
Ten years later, Bryan was a lobbyist for manufacturers of perchlorate.