Bailout Breakdown, Overnight Fire and What’s the Big Deal?

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Good Morning!

This morning we lose a member of the Today in Iowa team for a few weeks. Megan Reuther has been a TROOPER in the waining weeks of her pregnancy. It looks like this will be her last day before her maternity leave. We’re happy she’s going to get a “break” and will update you when baby arrives.

To the news:

Bailout Breakdown

I woke up to news that a US bank had failed. Washington Mutual bank out of Seattle had been in the headlines because it was so weak. It’s got to freak you out a little that a bank failed. I know this doesn’t mean a widespread collapse of the banking industry as a whole and WaMu had made some bad decisions. The prevailing wisdom among the experts this morning is that this will accelerate the move make a deal on the bailout.
Meanwhile Presidential Politics are now infused into this deal.
We talked a little about the PR stumbles the McCain camp can’t seem to get itself out of the way of this week.
He cancels with David Letterman saying he needs to go back to Washington, then goes upstairs and does an interview IN THE SAME BUILDING with Katie Couric! That’s just bad staff work. Who didn’t see this one coming? Letterman took a live picture of McCain talking to Couric during the taping of his show!
Then the Senator suspends his campaign to go to Washington to help work out a deal on the economy. OK I’m good with that…trying to show you’re a guy who understands the work of the country is more important than campaigning. But McCain arrived to find he didn’t really agree with everything in his own President’s bailout package, and then House Republicans go in front of the cameras and say they’re not going to support the thing. Any impartial observer would say it does not look like The Republican Party has a sense of itself from top to bottom. This may end up being too much to overcome before election day.
Overnight Fire
The circumstances of an overnight fire in Johnston are still a little unclear. The entire house was on fire by the time the firefighters arrived. It looks like the woman who lived there was out of town. An adult child was off at college, and no one seems to know where the Dad is. He is unaccounted for at this point and firefighters can’t rule out the idea that he might have died inside but they think he was away as well. We’ll find out more as the day goes on.
No. 1 No More
I think if USC scheduled The top two teams in the country every season and the Little Sisters of the Poor Varsity football team every season you could county on a loss to the Little Sisters. What the heck is going in here? #1 USC lost to Oregon State last night. This is the same team the dismantled an Ohio State team that’s not bad. The real question that should be discussed at water coolers across the country today is, What does this mean for Missouri’s ranking.

What were They Thinking?
PETA is at it again. They want Ben and Jerry’s to stop using milk from cows and instead use breast milk in their Ice Cream.
I think this solidifies my point about people not paying attention to PETA because they do so many ridiculous things. Breast Milk? I mean Ben and Jerry’s is the Company to do it…at least you could come up with a lot of good names for the Ice Cream. Peanut Butter D-Cups, Perky Pistachio, you could do a surprise flavor called Victoria’s Secret Recipe. The possibilities are endless.

The worst thing about this is that PETA is trying to get people to stop drinking milk from Cows. The argument is that cows are somehow being abused or harmed because we’re using their milk? Peta knows this wouldn’t mean the cows are going to stop producing milk right? Have you ever seen a cow that REALLY needs to be milked? It doesn’t look that comfortable…but it’s for the animals right? Brad Hook, you want to chime in on this one?

What’s the Big Deal?
Someone’s going to have to explain to me why a Hollywood actor is qualified to campaign for a Presidential candidate. Demi Moore, Ashton Kutcher and Brandon Routh are coming to Iowa to campaign for Sen Obama. Now, I think all of these people are talented actors, I think they’re probably smart, thoughtful citizens; I just don’t know why anyone would value their political opinions over anyone else’s?
If they were simply coming here to use their celebrity to get people of either party to register to vote…to encourage people to vote…I see the point.

I’m just not sure actors are the people we need leading the debate when we’re talking about one of the most serious economic situations in the country’s history and foreign policy ranging from war to nuclear proliferation. No one would show up to see an economist though.
Hope you all have a good weekend.


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