Tuesday, November 23, 2010


Turkey Day approaches, so let's see who's thankful.

GS to Feds. Goldman Sachs surely is thankful to the federal law enforcement personnel who are so assiduously pursuing suspected insider trading by hedge funds and other money managers. This evidently could be a big case, big enough to make the investing public forget all about ABACUS-2007-AC1 and Fabrice Tourre's juvenile e-mails.

Fed to Ireland. The Federal Reserve may be quietly grateful that Ireland is having such well-publicized debt problems. It's brought Europe's sovereign debt crisis back onto the front page, and if liquidity problems crop up as a result, the Fed will have more justification for its quantitative easing program.

G-20 to North Korea. The gonzo maniacs in North Korea, by revealing their uranium enrichment plant and shelling a South Korean island, have pushed the G-20 and the possibility of a currency devaluation war right out of the news. The potential for a real shooting war in Korea forces the international community to think about what it has in common, at a time when it should give that issue careful thought. Indeed, just days after they acrimoniously failed to reach a trade agreement, South Korea and the U.S. are vividly reminded that they are allies.

Lisa Murkowski to Palin (Bristol). The voting controversy over "Dancing With the Stars" has completely overshadowed any voting controversies in Alaska. For once, a Murkowski may be grateful to a Palin.

Charles Rangel to His Democratic Colleagues. One can't help but suspect that Congressman Rangel might be quietly thankful he's being tried and punished by a House of Representatives controlled by the outgoing Democratic majority. Things could well have been a lot tougher for him if he had stalled the proceedings into the next term.

David Cameron to William and Kate. The prospect of a royal wedding contrasts brightly against the dour grayness of governmental austerity. The prime minister may be grateful for the loss of some front page coverage.

NBA to LeBron. Just about everyone likes seeing a big talker taken down a notch. LeBron has provided this spectacle to basketball fans from sea to shining sea. Schadenfreude spurs growing fan interest with each Miami loss.

America to Salehis. We haven't seen Tareq and Michaele Salehi, the alleged White House party crashers, in the news for quite a while. That's something to be thankful for.

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