Daddy Carville
The president is getting it from all sides on the oil spill. James Carville wants Obama to take charge and tell BP, “I’m your daddy“.
Presidents Without Borders
Obama pronounced us not defined by our borders and promptly joined Mexican President Felipe Calderon in trashing Arizona for its immigration law. Senator Arlen Specter, now spurned by both democrats and republicans, doesn’t find himself bound by much of anything. At the end of Clinton’s impeachment trial in 1999, Specter relied on Scottish Law to vote “not proved”
E.U. Time to Shine
Yesterday Germany outlawed naked shortselling. I looked it up, it has nothing to do with day trading at home in your underwear. In most short selling you have to borrow the security you are shorting and then return it at the hoped for lower price. With a naked short you don’t even borrow the the security. The euro responded to the new rule by falling to a 4 year low. The E.U. is on the hook for a trillion dollar bailout and Paul Volker says a breakup is possible.
