The Kensington Review

29 October 2007

Latest Commentary: Volume VI, Number 130
FEMA Stages Fake Press Conference -- After the disastrous hurricanes that drowned New Orleans and the Gulf Coast two years ago, the Federal Emergency Management Agency [FEMA] became synonymous with incompetence On Friday, the agency moved from incompetent to deceitful. Having given journalists 15 minutes’ notice of a press conference dealing with the fires in California, FEMA went ahead with the conference despite the absence of any member of the media. FEMA employees asked questions as if they were independent journalists. Can this bunch sink any lower?

US Hands over Karbala Province to Green Zone Government -- A few hours ago, Karbala Province southwest of Baghdad became the 8th province out of 18 to be handed over to Iraq-Namese security forces. The Americans and the Iraq-Namese said that the locals were ready and able to handle things themselves. Whether they are or not, the time allotted for the American “surge” of troops to make a difference is running out. There is no choice but to hand things over sooner rather than later.

Merrill’s CEO is Doomed -- Merrill Lynch announced pretty bad news last week in the form of a $7.9 billion write-down related to subprime mortgages and derivatives based on them. CEO Stan O’Neal, who is also chairman of the board of directors, is almost certain to leave over this and his unauthorized merger discussions with Wachovia. His will be the most important head to roll in this fiasco, but if it is the only one that rolls at Merrill, the company will be badly served.

Boston Wins World Series in a Sweep -- Regular readers know that this journal and the City of Boston, Massachusetts, are like fire and ice. So it is with particular pain that one has to report that the Red Sox of Beantown are the World Series Champs. Not only did they defeat the Colorado Rockies, they did it in four games. This journal had predicted a sweep, just not like that.

© Copyright 2007 by The Kensington Review, Jeff Myhre, PhD, Editor. No part of this publication may be reproduced without written consent. Produced using Fedora Linux.


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