Why How Matters (NYT)

man was not meant to travel on wheels

by Thomas L. Friedman
In the financial-services boom, bubble and bust, we got away from the basics — from the fundamentals of prudent lending and borrowing.

New and Unnecessary (NYT)

argument by adverbial clause

Nearly two decades after the United States stopped building nuclear weapons, it should not get back into the business.

Help for Haiti (NYT)

international basket case trade

The undocumented Haitians in the United States should be given temporary protection status as their storm-ravaged country rebuilds.

Abortion Rights on the Ballot, Again (NYT)

voters disparaged

The measures that South Dakota, Colorado and California have taken to end or limit abortion rights have much larger implications.

The Post-Binge World (NYT)

financial analyst hat

by Thomas Friedman
The market is re-evaluating and re-pricing every asset in the world, without mercy. It is going to do whatever it’s going to do — whichever way greed and fear tug it.

Are We Rome? Tu Betchus! (NYT)

overleverage

by Maureen Dowd
The decline and fall of the American Empire echoes the experience of the Romans, who also tumbled into the trap of becoming overleveraged empire hussies.

The Terrorist Barack Hussein Obama (NYT)

panties soiled

by Frank Rich
The McCain campaign has crossed the line between tough negative campaigning and inciting vigilantism, and each day the mob howls louder.

The Rule of Law in Guantánamo (NYT)

leftist theoretical structure proposed

The government is fighting a ruling to free detainees from Guantánamo Bay to avoid having the case become a window into the outlaw world of the camps.

Up and Down the Learning Curve (NYT)

adam smith dismissed

America’s energy problems are complex, and solving them will require leaders with restless curiosity and an open mind.

Out of Panic, Self-Reliance (NYT)

I don't see Emerson fainting at Obama rallies.

By HAROLD BLOOM
How financial panic influenced the philosophies of Ralph Waldo Emerson.

A Little Less to Worry About (NYT)

legislative kudzu proposed

Congress needs to build on the success of the compact that bans the diversion of water from the Great Lakes and take on the long-awaited assault on invasive species.

The States Need Help (NYT)

drunken sailor aid

The federal government must help states like California and Massachusetts get past their short-term liquidity squeezes.

Politics of Attack (NYT)

dismal ugliness not erased

Ninety minutes of forced cordiality during the debate did not erase the dismal ugliness of Senator John McCain’s campaign in recent weeks.

A Fool’s Paradise (NYT)

attention not paid

by Bob Herbert
What we haven’t paid close enough attention to is the fact that there haven’t been enough good paying jobs to sustain an adequate standard of living.

The Testing Time (NYT)

rooted test discovered

by David Brooks
Today, world leaders have to figure out how to stabilize economies amid volatile global capital flows. This test is rooted in a shift in economic power.

A Little Less Light (NYT)

lux et veritas

Nobody wants to go back to dark alleyways, but we also know that man-made light can pollute as well as illuminate.

Playing Into Mr. Morales’s Hands (NYT)

the tin tariff

The White House’s proposal to suspend Bolivia’s trade benefits altogether is self-defeating.

Cut the Sprawl, Cut the Warming (NYT)

solar wind influenced

California’s latest initiative on climate change will help reduce global greenhouse gas emissions. Even more progress would be made if others follow.

The Crisis Agenda (NYT)

it is vital that they try to attract votes

It is vital that Barack Obama and John McCain, one of whom will inherit a real mess, address the financial crisis in real detail at their debate Tuesday night.

Scraping the Bottom (NYT)

rational debate desired

For free speech not to be tainted by hate-filled propaganda, the presidential campaigns should identify the ads for what they are — a product that has little regard for rational debate.

Pitbull Palin Mauls McCain (NYT)

the hope and change tradition

by Frank Rich
The 2008 election is now an Obama-Palin race about “the future,” and the only person who doesn’t seem to know it is Mr. Past, poor old John McCain.

Sarah’s Pompom Palaver (NYT)

flyover country addressed

by Maureen Dowd
Watching Gov. Sarah Palin’s strenuously folksy debate performance, we could wonder when elite became a bad thing in America.

Racism Without Racists (NYT)

flaming liberal is another problem

by Nicolas D. Kristof
One of this season’s fallacies is that if Barack Obama is paying an electoral price for his skin tone, it must be because of racists. Not so — the evidence is that he is facing what scholars have dubbed “racism without racists.”

Swedish Spoken Here (NYT)

foreigners prefer to invest here, being one

by Thomas L. Friedman
When the next president takes office, Americans should not be surprised when he spells out the ramifications of being a debtor nation.

A Tale of Taint (NYT)

impressive new uniforms too

The way to fix the Food and Drug Administration’s image problems is with increased staffing, upgraded technology and more authority to protect American consumers.

No Pay for Harm (NYT)

subscriptions down

Hospitals will no longer profit from their mistakes under a new payment policy just inaugurated by Medicare. Too bad the same will not be true of doctors, at least not yet.

Foreclosures and the Right to Vote (NYT)

democrat base addressed

With the recent foreclosure crisis, not much work has been done to ensure that people who lose their homes do not also lose their chance to vote.

Meanwhile, in the Economy (NYT)

unemployment benefits only extend recessions, is this news?

After the bank bailout passed, the Senate majority leader, Harry Reid, was unable to persuade Republicans to extend unemployment benefits. So much for Main Street.

Talking in Points (NYT)

snow white reenacted

by Gail Collins
McCain sprung his vice-presidential selection on us at the last minute, possibly under the impression that the country felt things had gotten too boring lately, and would appreciate the excitement of having a minimally experienced political unknown serving as backup to a 72-year-old cancer survivor.

Palin’s Alternate Universe (NYT)

limited skills deprecated

by Bob Herbert
In such a serious moment in American history, it’s hard to believe that someone with Sarah Palin’s limited skills could possibly be playing a leadership role.

Dick Cheney, Role Model (NYT)

still smarting from ``major league asshole'' remark

It was hard to tell from Gov. Sarah Palin’s remarks in the vice-presidential debate if she understands how Dick Cheney has reshaped and damaged the office.

In New York, a Willing Suspension of Term Limits (NYT)

Obama for mayor of NYC, an amusing experiment

By RONALD S. LAUDER
Why do I believe term limits should be lifted temporarily to allow Michael Bloomberg to run for a third term? The answer is simple. I don’t want this city to repeat the early 1970s.

Show Us the Hope (NYT)

direct action urged against perverse side effects of previous direct action

The bailout bill, even the “sweetened” version, does little to avert the defaults and foreclosures that are pushing house values ever downward.

My Plan

Putting it in one place.

Change ``mark to market.'' It produces an instability in the system, whether taken as linear or nonlinear. A simple change is backward time averaging to the market, which gives you an unbiased eventual valuation but kills off the instability.

(The variance of the current market under mark to market is higher than the mistake produced by the lagging of an averaged estimator; and lagging spreads out any selling over a long enough time to look at things dispassionately.)

Change FDIC insurance limits way upward, and then declining under a leisurely schedule to avoid moral hazard being taken up as a business model. Similarly money market coverage. But it momentarily lets banks pay for and get huge deposits.

Rescue the Rescue (NYT)

law requiring both mark to market, and driving down market, not noticed

by Thomas L. Friedman
This is a credit crisis. It’s all about confidence.

When Madmen Reign (NYT)

kool aid disparaged

by Bob Herbert
The question voters should be asking John McCain is whether he has stopped serving his party’s economic Kool-Aid and is ready to change his ways.

Boeing, Virgin, Join Group Committed to Biofuel Development for Commercial Airlines

Airliners towed by ducks.

The Washington Panic (WSJ)

having the qualities of uproar

...The uproarious debate over the Paulson plan comes down to one main proposition: Are we going to give the government a new tool and resources to protect the financial system, or not?

It All Comes Down to Experience (NYT)

message praised

By MICHAEL A. COHEN
As Barack Obama continues to stay on message, it’s no wonder John McCain has proposed postponing the first debate.

The Cross-Cultural Classroom (NYT)

media politics analogized

By CHRISTINA SHUNNARAH
In what is one of the most diverse communities in the country, a teacher learns to be aware of the many cultures that make up her kindergarten class.

Wasilla Watch: Sarah Palin and the Rape Kits (NYT)

women's issues addressed

By DOROTHY SAMUELS
Voters should know if sexual-assault victims in Wasilla, Alaska, were being billed for the cost of rape kits and forensic exams while Sarah Palin was mayor.

Ten States With a Plan (NYT)

warming fairy combatted

Until Washington takes more responsibility for addressing global warming, the states should take the lead.

Park Avenue Diplomacy (NYT)

dowd's own foreign policy experience projected

by Maureen Dowd
Summoning his old Harvard teaching days, Kissinger surely looked for a common didactic starting point: She has seen Russia. “Goot. I haff seen it, too.”

Official Solution to the Financial Crisis

Convert mortgage securities into flower bonds, opening a market for them.

An Inadequate Case for the Bailout (NYT)

money flow skimming needed

Congress has more work to do on the proposal to bail out the financial system before lawmakers and voters can support it.

Long Live the Gray Wolf (NYT)

anopheles mosquito to africa is another

There have been few biological reintroductions as successful as the restoration of the gray wolf to the Rockies.

The Paulson Sale (WSJ)

hendiadys crisis

That's especially true if Treasury were to try and use these purchases to "recapitalize" the banks by overpaying for the assets.

A Second Opinion? (NYT)

mortgage derivatives explained

by Bob Herbert
Henry Paulson has been handed the reins of government, and he’s galloping through the taxpayers’ money like a hard-charging driver in a runaway chariot race.

Railroaded (NYT)

sweeping powers praised

Gov. David Paterson of New York was right to give the state’s attorney general sweeping powers to investigate the disability fraud debacle at Long Island Rail Road.

Remember Iran? (NYT)

foreign policy explained

What is needed is a game-changing diplomatic initiative in dealing with Iran’s constant evasions on its nuclear program.

Trust Me (NYT)

economics explained

To protect the American taxpayer, Congress must ensure that Treasury Secretary Henry Paulson’s bailout plan comes with clear ground rules and vigilant oversight.

A Fine Mess (NYT)

``I hesitate to say I don't disagree with you''

by William Kristol
A friend serving in the Bush administration tried to talk me out of my doubts about the $700 billion financial bailout. I’m not convinced.

Barack Obama, John McCain and the Language of Race (NYT)

assholeness is cultural

By BRENT STAPLES
The discomfort with certain forms of black assertiveness is too deeply rooted in the national psyche to just disappear.

Up for Sale? (NYT)

the proof of why

The accusation that Assemblyman Anthony Seminerio put his office “up for sale” is further proof of why public officials need to disclose private income.

No More Excuses (NYT)

waiting room reading material survey

If you’ve shied away from getting a colonoscopy, two new scientific studies may make you less reluctant.

‘Running Out of Time’ (NYT)

the completely unravel menace

President Bush needs a policy that bolsters Pakistan’s fragile civilian government before the country completely unravels.

Two Silences (NYT)

lutefisk

By VERLYN KLINKENBORG
In the surreal silence of a forest in northern Finland, I discovered that in nothing there is something to hear after all.

Right to Smear (NYT)

swift boat was true, however

Although the wholesale descent into Swift Boat campaigning has been blocked, voters should not rest easy.

‘Never Again,’ Again (NYT)

water and gravity intelligence test

Hurricane Gustav gave the state of Louisiana a test for which it had three years to prepare. The state flunked.

The Push to ‘Otherize’ Obama (NYT)

moronize is also noticed

by Nicholas D Kristof
The political campaign to transform Barack Obama into a Muslim is succeeding. The real loser as that happens is our entire political process.

No Laughing Matter (NYT)

listening to scolds recommended

by Thomas L. Friedman
George W. Bush never challenged Americans to do anything hard, let alone great. The next president is not going to have that luxury.

Truthiness Stages a Comeback (NYT)

truculence and propaganda twinned

by Frank Rich
The twin-pronged Rovian strategy of truculence and propaganda that sold Bush and his war could yet work for John McCain.

Blocking the Sky to Save the Earth (NYT)

not everybody gets the same mail

By THOMAS HOMER-DIXON and DAVID KEITH

The melting of the polar ice cap in recent years is decades ahead of model predictions, raising concern that climate change is proving worse than expected.

Social Security

The Social Security crisis is easily fixed. Raise the retirement age so that the number of (then increased) workers is big enough to voluntarily support the (then reduced) number of retirees. Done!

You get to spend the last (say, average) 8 years of your life on benefits, not a 30 year vacation after age 65. Raise the age so this is true, no matter how high the life expectancy goes.

Why not reduce benefits? Because SS fills a gap. It's an annuity adjusted for inflation that won't fail. The private market can't match that, because companies that might offer annuities don't last 30 years.

See for example AIG.

So the guarantee of SS is that you won't have the misfortune to outlive your savings, regardless of inflation and the misjudgments of the management of the annuity company you had the misfortune to choose.

People can easily save for an average retirement, but they can't save for a hundred year lifespan, should they happen to live that long. That's the risk that's being insured against.

If you want to retire earlier than the raised retirement age, great! Just do it on your own dime, to bridge the gap.

Problem solved, debt overhang removed.

(Argument brought up again on the occasion of the shaky condition of AIG, the huge annuity issuer.)

Financial Meltdown

This has all happened before.

I am thinking of 1987, when portfolio insurance was very popular.

Portfolio insurance was a programmed scheme simultaneously trading in stocks in NY and their options in Chicago, that guaranteed that you couldn't lose money on your portfolio.

If nobody can theoretically lose money, then reality will enforce itself by violating an assumption.

In this case, in 1987, it was that it was suddenly no longer possible to execute simultaneous trades in NY and Chicago. There were no buyers. They didn't think of that.

Yet it was precisely a consequence of portfolio insurance that it happened.

So now everything is hedged and insured, and every hedge falls in value simultaneously.

If nobody can lose money, your assumptions are wrong, might be the rule to use.

You do yes have to look at what you're buying.

Seven Years Later, Ground Zero (NYT)

parking lot incompleted

The land where the World Trade Center stood still has the painful feel of a construction site. It is time for the political leaders to clear the roadblocks.

Nice Work if You Can Get It (NYT)

rich people discovered

The ousted chiefs of Fannie Mae and Freddie Mac are at the center of an epic failure. They should not be rewarded any more for their failures.

Mississippi’s Ballot Trick (NYT)

musical trailers

Mississippi’s governor and its secretary of state have come up with a dirty election trick that is not only illegal, but shows a contempt for the state’s voters.

In Search of Gov. Palin (NYT)

well wisher advice

The best way for Sarah Palin to let America know about her record is to hold an honest news conference, which is what the campaign of John McCain is avoiding.

The Bailout’s Big Lessons (NYT)

confusion supported

The government takeover of Fannie Mae and Freddie Mac raises disturbing issues that may get lost in the tumult of the moment.

Hold Your Heads Up (NYT)

contrary impression acknowledged

by Bob Herbert
Without the contribution of liberals, the United States would be a much, much worse place than it is today.

John McCain’s Energy Follies (NYT)

uranium is carbon-free

The John McCain who understood that the country should expand carbon-free energy sources has receded in time for the campaign.

Palin and McCain’s Shotgun Marriage (NYT)

obama praised

by Frank Rich
John McCain’s speed-dating of Sarah Palin reaffirmed that his decision-making process is impetuous and, in its Bush-like preference for gut instinct over facts, potentially reckless.

Georgia on My Mind (NYT)

innovation capacity displayed

by Thomas L. Friedman
Barack Obama and John McCain need to focus, not on war, but on strengthening our capacity for innovation — our most important competitive advantage.

And Then There Was One (NYT)

takeover by big hand lotion

by Thomas L. Friedman
With his choice of Sarah Palin, John McCain has completed his makeover from the greenest Republican to run for president to just another representative of big oil.

Candidate McCain’s Big Decision (NYT)

serious question spectre summoned

Choosing Sarah Palin raises serious questions about John McCain’s qualifications.

Sunspot Minimum

what does it take to surprise an astronomer?

The astonishing rapid drop of the past year has defied predictions, and caught nearly all astronomers by surprise.

A Breathless Labor Day (NYT)

symbolism urged

This Labor Day feels a little different than most, deafened, as it is, between the cymbals of the two political conventions.

The High Cost of Low Temperatures

global warming

Congress must do the right thing and help those who, faced with the high price of home heating oil, may have to make some painful choices this winter.

Mr. McCain and Iraq (NYT)

mccain made to define terms

John McCain owes the country an explanation of how he plans to salvage the war in Afghanistan and what he means by victory in Iraq.

John McCain’s Challenge (NYT)

incompetence deplored at the NYT

John McCain’s task is to persuade the American people that electing him will not merely mean more of President Bush’s ideology and incompetence.

Exclusive: Chief Fired by Palin Speaks Out (Wash Post)

the grudge report

McCain’s Baked Alaska (NYT)

tight butt and nice eyes

by Gail Collins
The idea that women are going to race off to vote for any candidate with the same internal plumbing is both offensive and historically wrong.

Champagne and Tears (NYT)

mayor of the united states

by Bob Herbert
For black residents in and around Detroit, Barack Obama’s nomination helped to redeem some of the grief of many years of racial humiliation and oppression.

Senator McCain’s Choice (NYT)

questions raised

Although John McCain’s choice of Gov. Sarah Palin as his running mate is heartening, her lack of experience raises questions about how prepared she is to potentially succeed to the presidency.

Take That!, Merchants of Fear and Division

John Kerry fears and divides:

This election is a chance for America to tell the merchants of fear and division: You don't decide who loves this country; you don't decide who is a patriot; you don't decide whose service counts and whose doesn't.

Too Much of a Bad Thing (NYT)

card card flashed

John McCain’s campaign is cheapening his greatest strength by flashing the P.O.W. card to rebut any criticism, no matter how unrelated.

Melting Pot Meets Great Wall (NYT)

lower the working age

by Thomas L. Friedman
China and America can look at their Olympic successes as reaffirmations of their distinctly different political systems. But they could also learn from each other.

Last Call for Change We Can Believe In (NYT)

more helium

As the presidential race finally gains the country’s full attention, Barack Obama’s strategy that vanquished Hillary Clinton must be rebooted to take out John McCain.

Going for the Gold (NYT)

no gold for you, reader

By EDUARDO PORTER
The Olympics have retained their spirit: it’s still the autocratic and rich who win gold.

That Troubled Terrorism List (NYT)

first priority determined

The administration’s first priority should be to to fix the terrorist watch list so that warning signs of an attack are not lost in the chaos again.

Measles Returns (NYT)

misguided fears deplored

Parents must overcome their misguided fears of vaccinations or the number of cases of measles and other diseases in the United States will continue to grow.

What the Voters Know (NYT)

imaginary dire persists

The economy’s dire circumstances will not abate soon. And voters believe that neither candidate is paying enough attention to their distress.

Beijing’s Bad Faith Olympics (NYT)

world leaders called on

With these repression-scarred Olympics now drawing to a close, world leaders must tell Beijing that its failure to live up to its commitments will not be forgotten.

Taking On the Traffickers (NYT)

puppy mills

Congress must strengthen the Federal Trafficking and Victims Protection Act of 2000 and extend protections and services to victims born in the United States.

Mr. Johnson Steps Up (NYT)

environmental correctness

The administrator of the Environmental Protection Agency should challenge the Army Corps of Engineers on the environmentally disastrous project in the Mississippi Delta.

For Judgeships in New York City (NYT)

luck strikes the left

New York City’s courts need the most dedicated and capable jurists. Luckily, there are a few good candidates.

McCain’s Drill Appeal (NYT)

empty suit hypothesis overlooked

by Charles M. Blow

Earth to Barack: to Main Street America, nuance equals confusion. You don’t have to dumb it down, but you do have to sum it up.

Voters Want More From Obama (NYT)

the moron vote

by Bob Herbert

Senator Barack Obama needs a first-rate, crackling-with-excitement populist message, which means a laser-like focus on the economy and jobs.

Risking the Galápagos (NYT)

blue booby lobby

When it comes to ecosystems, finding the balance between access and protection is always difficult.