mm509: Hear that sound? It’s the ice skaters in hell!

October 17, 2008
© Associated Press photo by Byron Rollins

© Associated Press photo by Byron Rollins

We’ve written before about our hometown newspaper, the Chicago Tribune.

Taken most seriously in its home town.

But proud of its Republican tradition. Its first editor of any distinction, Joseph Medill, was influential in winning the presidency for Abraham Lincoln.

That Republican heritage caused it to be newspaper non grata in my grandparents’ and my parents’ households, and indeed, our household for many years, until its more favored tabloid competitor, the once scrappy and progressive Sun-Times, was eviscerated by Rupert Murdoch, the first of a series of newspaper bandits that have effectively destroyed it. The latest in that series, Conrad Black, is in federal prison, convicted of fraud in connection with his newspaper properties.

But we digress.

The Tribune is <so> Republican that once, the year yr (justifiably) humble svt was born, they allowed wishful thinking to trump reality, resulting in the headline illustrated at the top of this post, a photograph that Wikipedia rightfully describes as one of the most famous ever published.

That was then.

Times, even for the 161 year old Chicago Tribune, have changed.

chitrib

FROM THE CHICAGO TRIBUNE EDITORIAL BOARD

Tribune endorsement: Barack Obama for president

2:33 PM CDT, October 17, 2008

However this election turns out, it will dramatically advance America’s slow progress toward equality and inclusion. It took Abraham Lincoln’s extraordinary courage in the Civil War to get us here. It took an epic battle to secure women the right to vote. It took the perseverance of the civil rights movement. Now we have an election in which we will choose the first African-American president . . . or the first female vice president.

In recent weeks it has been easy to lose sight of this history in the making. Americans are focused on the greatest threat to the world economic system in 80 years. They feel a personal vulnerability the likes of which they haven’t experienced since Sept. 11, 2001. It’s a different kind of vulnerability. Unlike Sept. 11, the economic threat hasn’t forged a common bond in this nation. It has fed anger, fear and mistrust.

On Nov. 4 we’re going to elect a president to lead us through a perilous time and restore in us a common sense of national purpose.

The strongest candidate to do that is Sen. Barack Obama. The Tribune is proud to endorse him today for president of the United States.

Do you get it yet?

In over 160 years, forty (40!) elections, the Tribune has NEVER endorsed a Democrat for president in a general election.

Until today.

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mm503: The $700 Billion Fairy Tale

September 25, 2008
© Penguinn | Dreamstime.com

© Penguinn | Dreamstime.com

Don’t have the energy for a full fledged rant, but several stories and commentaries crossed the screen today, and made it clear that, in an administration that never stops scamming us, they’ve totally topped themselves.

The Yiddish term is Chutzpah, whose classic definition has a young man, caught with bloody hands after murdering his parents, asking the court for mercy, as he’s an orphan.

We begin with that stalwart bastion of progressive thought, Steve Chapman of the Chicago Tribune. Stalwart, yes, bastion, yes, progressive? Judge for yourself.

chitrib

The case against a federal bailout

Steve Chapman | September 25, 2008

The late comedian Jack Benny made a career of claiming to be a cheapskate. In one joke, a robber accosted him and said: “Your money or your life.” Getting no response, the thug repeated his demand. Benny replied, “I’m thinking about it!”

That’s the sort of dilemma posed by Treasury Secretary Henry Paulson and Federal Reserve chief Ben Bernanke in their proposed rescue of financial institutions. They predict dire consequences if they don’t get their way. But the consequences of letting them have their way are so awful that the alternative doesn’t look so bad.

What they prescribe is for the federal government to buy $700 billion worth of lousy assets from banks and other lenders, exposing taxpayers to a potentially crushing liability. This plan would nationalize the money-losing part of the financial sector, to the benefit of capitalists who have made spectacularly bad decisions—fostering more bad decisions in the future.

It would add to the liabilities of a government that is already living way beyond its means. It would give unprecedented power to a couple of officials who have proved highly fallible in trying to avert this alleged crisis. And it poses the risk of abuse and corruption because the government has no way to gauge the value of what it will buy….

Paulson and Bernanke say, and probably believe, that their program is for the good of us all. But remember what Thoreau thought of their 19th Century counterparts. “If I knew for a certainty that a man was coming to my house with the conscious design of doing me good,” he wrote, “I should run for my life.”

The case against a federal bailout — chicagotribune.com

Read a local media observer today who thought that this was the year that Chapman’s paper, the Chicago Tribune might endorse a Democrat for president for the first time. Ever. In over 150 years.

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