says it all

WALLACE: But Senator, back — if I may, back in 2000 when you were the target of robo calls, you called these hate calls and you said...

MCCAIN: They worked.

new wealth v. old wealth

Note from a reader, posted on the Corner:

I remember reading many, many years ago that the central conflict in the Western economic system wasn’t between Capitalism and Socialism, it was between New Wealth and Old Wealth. Joe the Plumber is New Wealth – Joe Biden, Barack Obama (thanks to book sales) and Ted Kennedy are Old Wealth. Mark knows perfectly well what a testament to Old Wealth that Canada is, because that’s what a Welfare State preserves.

so old wealth is classified as in the past five years?

From CSPAN

Overhead Projector is not a Planetarium Projector

Overhead Projector is not a Planetarium Projector, originally uploaded by hcovitz.

yes, thank you.

from BoingBoing

A new word is added to the English language every 98 minutes, says the Global Language Monitor, a descendant of yourDictionary.com. (Ironically, the group's "about" page has "dictionary" misspelled as "dictioanry" in one place.)

I think there is a difference between a typo and a misspelling, probably because I make lots of typos but would still like to count myself as an adequate speller.

This American Life on the Financial Crisis

I'm only a minute in but it starts with an awards ceremony at the Ritz Carlton.

Nice Work if You Can Get It

Wachovia Corp. Chief Executive Bob Steel doesn’t stand to receive a big payout due to Wachovia’s sale of its banking operations to Citigroup Inc. But a few of Wachovia’s other top executives do.

Three of Wachovia’s top executives have change-in-control agreements with the company that could pay them millions if they are terminated or choose to resign following Citi’s (NYSE:C) acquisition of the company’s banking operations.

Ben Jenkins, head of Wachovia’s general bank, would receive $13.3 million in severance payments and a pro-rated bonus of $3.7 million, according to a securities filing in March.

Steve Cummings, head of the company’s corporate and investment bank, could nab a $14.3 million severance payment and a bonus of $4.25 million.

And David Carroll, head of Wachovia’s capital-management group, would get a $14 million severance payment and a bonus of $4 million.

All three have employment agreements with the bank that provide handsome packages in the event of a change-in-control at the company, which includes a sale of "substantially all of Wachovia's assets." Citi is acquiring more than $700 billion of Wachovia's assets.

In addition to their severance payments, the three executives would also be entitled to medical, dental and life insurance benefits for themselves and their family members for life if they are terminated or resign after the deal closes.