Eugene David
...The One-Minute Pundit

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THE NEWS HACK'S CREED:
I know more than you.
I make lots more money than you.
I'm smarter than you.
I'm sexier than you.
I appear on TV all the time.
I work ten minutes a day.
I rule the universe.
I'm going to live forever.
You are an idiot.

THE NEWS HACK'S CREED, No. 2:
A lie isn't a lie when it tells THE TRUTH.

THE NEWS HACK'S CREED, No. 3:
I've come to realize that the looseness of the journalistic life, the seeming laxity of the newsroom, is an illusion. Yes, there's informality and there's humor, but beneath the surface lies something deadly serious. It is a code. Sometimes the code is not even written down, but it is deeply believed in. And, when violated, it is enforced with tribal ferocity.
--JOHN "OMERTA" CARROLL.

THE NEWS HACK'S CREED, No. 4:
News isn't news when we don't report it.

PERMALINKS:

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Wednesday, May 18, 2011

Posted 9:32 AM by Gene

The new head of the IMF will be walking into an incredibly difficult situation, with EU institutions cracking under the strain of the crisis, and member governments getting increasingly testy with each other. The problems of the EU are historically unique, requiring finesse and considerable political capital, and the incoming executive won't have practically any time to get up to speed, much less build up the relationships and credibility that increasingly look as if they'll be necessary to see this through.

Of course, I don't think there's much likelihood of a resolution short of exiting the euro (a defacto default). But if there's any hope for a less drastic solution, it just got a lot dimmer. And of course even the drastic solution would be made considerably less catastrophic with timely and competent assistance from the Fund.

DSK could have thought of these things before he had his sex fit.

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