links for 2010-02-18

  • An interesting perspective. Dunno what I think about it yet — "A Wall Streeter buys the life insurance policies of individuals with terminal illnesses, packages them into securities, and profits when the underlying collateral dies. In his most recent movie, Michael Moore documented the practice of taking out "peasant insurance" on employees. Now we learn that firms continue to carry life insurance on former employees, hoping they will die untimely deaths so that the firm can collect."
  • By design, the Act had three primary purposes: Rescue, Recovery and Reinvestment. The enclosed report reviews our progress in each of these three areas. Almost 20 million Americans have gotten extended unemployment benefits thanks to the Act, and over 95 percent of working families have had their taxes cut. Jobs have been created thanks to tens of thousands of projects now underway nationwide. And the groundwork for the economy of the next century is being put in place as we invest in high speed rail, health technology, broadband, a smarter electrical grid, clean cars and batteries, and renewable energy.

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