The Kensington Review

25 January 2008


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Latest Commentary: Volume VII, Number 11
Bipartisan Deal Cut on Economic Stimulus Package -- The Democratic-controlled Congress and the Republican-occupied White House have agreed in principle on a $150 billion economic stimulus package. Like most bipartisan efforts, both sides had to give a little to get something done. Now, the question is whether too much was surrendered politically in exchange for a package that won't take effect economically for five months.

Thousands Break out of Gaza Prison -- The Israelis have besieged the entire Gaza Strip since Hamas took over the place in June. Tel Aviv has prevented food, medicine and fuel from entering in retaliation for rockets being fired from the Strip into Israel. When masked men blew up and ripped down a section of the wall keeping Gazans from entering Egypt, several thousand broke out of the prison Israel created to buy cooking oil, flour and other staples while the Egyptian security guards watched. Sometimes, the lid blows off a pressure cooker.

Rogue Trader Costs Societe General €4.9 Billion -- Societe General, the huge French bank, has announced that a rogue trader has managed to hide losses of €4.9 billion, in addition to its €2.05 billion loss in the sub-prime mortgage mess. When Nick Leeson bankrupted Barings Bank in 1995, his losses were a quarter of that at £860 million. Somehow, Societe General will post a net income of €600 million to €800 million for the year, although the balance sheet needs some help.

Baylor Beats Texas A&M in Quintuple Overtime -- The one thing that distinguishes American sports from those in other countries is the American insistence on a victory or a loss as the only possible outcomes. It has famously been said that a tie is “like kissing your sister.” Cricket, soccer, and ice hockey fans (when the NHL was still a largely Canadian league) are comfortable with a draw. Maybe some who cheer for college basketball can be convinced of calling some games ties, especially after Baylor needed five overtimes to defeat Texas A&M in basketball Wednesday night.

© Copyright 2008 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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