Tuesday

Back on the couch in recovery mode. Not much improvement today. I seem to hit the wall around two or three, and have no trouble heading for the barn by four or five. Still not driving, although that's just being unnecessarily skittish.

The market reclaimed today most of yesterday's losses. Lots of doubts out there about the government's ability to fund the economy out of the recession. And not a small amount of backlash in the hinterland among folks not all that anxious to supplement the mortgage payments of others. The White House's theory is often expressed figuratively that, if a house in the neighborhood is burning, it is in the best interests of all the neighbors to man the bucket lines to put out the fire. Even if the fire was started by that neighbor's carelessness.

I don't buy the validity of that comparative. But I don't have the answer either. (This is where the economists throw a few equations with lots of variables into the Cray computers in the basement and come up with new visions...for new editions to their college texts. Going for $225 each. There's never been a recession in the college book market!)

Northern Trust is an old line banking institution that began in Chicago way back when. They're international now with lots of products and services. And according to the news, in possession of around $1.6 billion in TARP money. Which is rubbing some of the Lillie Whites on Capital Hill the wrong way after hearing of the parties and goings-on in conjunction with last week's Northern Trust Open (PGA golf tournament) in Southern California.

Cheryl Crow, the band Chicago, The Beverly Wilshire, and The Ritz Carlton are just some of the names making the headlines. Not to mention the title name of the tournament. Barney Frank and friends are having tingles all down their legs. Me? I think I'll open up a Northern Trust account tomorrow.

The convention business in LV, New Orleans, San Diego, Miami, Orlando, and other traditional destinations will wither up and die if we keep going this route. Not every company will be into TARP funds, but the money spent on these conferences is all deducted on returns filed with BO's Geithner. While Geithner has limited knowledge on the tax code, it will take the sleuths at the NYT about 30 seconds to put one and one together to get a story on their front pages for tax fraud. Public employees will be in the same boat for their national meetings.

It's a slippery slope. Even reporters have their own conventions.

And before anybody has too much heartburn, my reference to the President as BO, is certainly no worse than the derisive use of Dubya by virtually all of President Bush's critics in recent years.

And what about the stink on political cartoons? Between thin skin, the on-going MSM love-fest, and political correctness, we have Joe Biden and Bill Clinton to take the heat. Whoopee.

Somewhat relatedly, Jim Calhoun, the UConn men's coach got into it in a post-game news conference with a political activist who had acquired a media credential for the game. The questioner tried to embarrass Calhoun with an inquiry on his multi-million dollar contract. I've never been much of a fan of Calhoun, and he responded poorly with exaggerated indignation, but the bottom line is that the questioner was looking for headlines for himself.

Anyway, if we start with this trend of trying to limit compensation, where does it end? Does everybody have to drive a Chevy Impala (with a green engine), and vacation at the state fair?

I'm officially out of gas.

Have a great evening/day.

BCOT