David Cay Johnson, author of Free Lunch: How The Wealthiest Americans Enrich Themselves at Government Expenses (and Stick You with the Bill) proposes a sensible-sounding alternative to the bailout. More significant, however, is his take on our collective response to the crisis:
Taxpayers should be troubled that on Capitol Hill and at the White House the talk was about modifying the Paulson plan, not a different approach. They should be just as troubled that most news reporters and TV anchors initially assumed that there must be a crisis and only asked questions around the edges of the plan instead of taking it apart.
The New York Times runs a highly-anecdotal piece on how race continues to undermine Obama’s efforts to connect with downscale union workers.
Conventional Folly’s David Donadio provides some much-needed context for the bailout debate.
Fareed Zakaria takes Palin (and McCain) to the woodshed.
Stephen Bainbridge explains why black people aren’t responsible for the sub-prime mortgage crisis.
The Wall Street Journal reports that McCain’s debate coach, Brett O’Donnell, will help prepare Palin for the VP debate:
Amid the heavy scrutiny in a close campaign, Gov. Palin is under considerable pressure to make Thursday’s debate a “game changer,” advisers said. The campaign is sending in Sen. McCain’s debate coach, Brett O’Donnell, to help with her preparation, advisers said. Though he always was expected to help out after Sen. McCain’s debate Friday in Oxford, Miss., Mr. O’Donnell now needs to “undo” much of her previous debate prep, which has resulted in occasional “rote” responses, one adviser said.
I only mention this because O’Donnell, who’s taken a leave of absence from his day job as coach of Liberty University’s policy debate program to advise the McCain campaign, judged me once or twice on the college circuit.