The Big 3: Hope that Iceland Leads the World, Welfare Jet for the Money Honey, Thain’s Shocked that Markets Move?!

1. Hope that Iceland Leads the World

2. Welfare Jet for the Money Honey

3. Thain’s Shocked that Markets Move?!

1. Iceland’s government fell today. Iceland felt the true magnitude of this downturn before any other developed country...if they implement profit-seeking, private property, laws that simply enforce contracts, they're likely to see profits, private property rights and respect of contract law become the drivers of their economy and their society. Maybe they can help LEAD us of this socialistic/anarchic mess.

2. When you fight Citigroup for using welfare money to buy a luxury plane for 12 of their people, we need to make sure we’re fighting ALL appropriation and redistribution of wealth. We have to be careful not to enable more corporate welfare with rationalizations like “How can they bailout Wall Street and Detroit and not XYZ industry…”

3. John Thain, put out a bunch of propaganda today to try to save his reputation that he trashed so badly as he took out tens of million in salary for a year’s worth of work at Merrill Lynch. His work has so far cost you and me nearly $40 billion in welfare. He says you can’t blame him because, “the losses “were incurred almost entirely on legacy positions and were due to market movements.” MARKET MOVEMENTS?! Did he think the markets wouldn’t move or something?