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Mission accomplished - so far, at least. In the face of a financial shock worse than the Crash of 1929, massive government intervention averted a second Great Depression. Yes, we've still ended up in the worst economic downturn the U.S. has seen since. But while there are surely lots of potholes and wrong turns ahead, there's ample evidence that the economy - both in the U.S. and worldwide - is in the early stages of a rebound. And we have decisions made by government officials to thank for that...
...more or less ensured major, permanent government participation in the financial sector. By intervening aggressively, Hank Paulson and his kindred spirits at the Fed haven't quite ensured a continuation of the status quo - some reforms will come, and banks and their regulators will tread more gingerly for at least a few years - but they do seem to have headed off a re-enactment of the New Deal...
...group of at least two people, assign everyone as either an “odd” or an “even.” Take turns rolling a dice. If the number rolled is odd, the “odd” players must take a drink and if the number rolled is even, the “even” players must take a drink. The goal: get shitfaced...
Threading that political needle - while trying to stitch together a complex reform bill on which the stability of the entire financial system depends - is a long shot. But at least everyone involved has a reason to make...
...southwestern Pakistan. Tehran, for its part, has repeatedly complained to Islamabad about cross-border attacks mounted by Jundullah, a shadowy Baluch militant group that uses Pakistani Baluchistan as a staging ground for attacks inside Iran. On May 28, the group claimed responsibility for a bombing that killed at least 20 in the border town of Zahedan. Iran and Pakistan have also been at loggerheads over Afghanistan - Tehran has backed the Karzai government, and Pakistan is seen as continuing to covertly support the Taliban - and over the perception that Pakistan is not doing much to stem anti-Shi'ite sectarian terrorism...