Sunday Bonus Catblogging – 10.12.2008

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SUNDAY BONUS CATBLOGGING…. There’s too much tension and stress this weekend over our ongoing financial tsunami. What’s needed is some bonus catblogging to explain in layman’s terms how we got into this mess.

In today’s installment, Inkblot demonstrates graphically what happened to our banking system. Like the titans of our financial industry, last night he became convinced that the answer to all his problems was increased leverage. With enough leverage, along with some positive thinking, he was sure he could fit himself into the box lying on the floor. And he almost did it. Unfortunately, he eventually found himself forced to deleverage his position, at which point the box went kablooey and he needed to be bailed out. Sort of like our banks. Lesson learned?

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THE BIG PICTURE

You expect the big picture, and it's our job at Mother Jones to give it to you. And right now, so many of the troubles we face are the making not of a virus, but of the quest for profit, political or economic (and not just from the man in the White House who could have offered leadership and comfort but instead gave us bleach).

In "News Is Just Like Waste Management," we unpack what the coronavirus crisis has meant for journalism, including Mother Jones’, and how we can rise to the challenge. If you're able to, this is a critical moment to support our nonprofit journalism with a donation: We've scoured our budget and made the cuts we can without impairing our mission, and we hope to raise $400,000 from our community of online readers to help keep our big reporting projects going because this extraordinary pandemic-plus-election year is no time to pull back.

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