The New York Times has a SCOOP, about Larry Summers! He is still a dick to everybody, and the rest of the White House economics team pretty much hates him — except for the President, who endures his terrible behavior because he is so BRILLIANT. MORE »

• HOORAY! Says the CEO of the now-bankrupt General Motors: “The GM you knew, the GM that let so many of you down, is history.” Stocks are just cold going nuts, Dow up 215+ at the moment. [Marketwatch]

Wow it’s morning so that means Barack Obama is giving televised remarks about the latest failed giant business he’s buying us for Ramadan. General Motors! “The collapse of these companies would’ve been devastating to America,” etc., yes we know, “and it would be good for American workers and American manufacturing and good for America’s economy” if, heh heh, GM didn’t have to pay all its debts. Let’s live-blog this by liveblogging, now! MORE »

Remember the Housing Bubble and the gazillion bullshit mortgages that caused the entire global economy to collapse and send us into a terrible World Depression? It’s still going down! The housing crash, that is — one in eight homeowners is now either in default or in foreclosure, a new record! MORE »

There is a crazy bald dude on CNBC, and he is going super-double crazy. And here, introducing this CNBC clip of insanity, is a guy in California who is … driving and doing a YouTube video at the same time, about how Californians will soon be sent to Concentration Camps. So, pack a suitcase and drive around! Let’s see some more of this wacky CNBC weirdo, Jeff Macke. MORE »

The good news is that new unemployment claims were down a bit from the previous terrible week. The bad news is that there were more new jobless people than dumb economists had predicted. The worse news is that we now have 6.66 million people getting unemployment benefits, which proves the Devil is not only a true thing, but He’s here in America, having fun. Oh also millions more have just completely given up even looking for work, and their unemployment payments ran out long ago. [Bloomberg]

Here’s a teevee news report from Rochester, NY about some Popeye’s running out of chicken. Like so much that happens in America, it is both hilarious and tragic. But! The people who are unable to procure their fried chicken, in this video, well they are black, which is a racial issue. And, it turns out, Popeye’s isn’t the only fried-chicken chain having issues related to black people. Is this really the America we expected after Barack Obama’s landslide victory? MORE »

Sure, Barack Obama changed his mind about releasing the very scary photos of widespread medieval U.S. war crimes everywhere, but Robert Gibbs cut off that leftist hippie firestorm right quick when he stole a reporter’s telephone and everyone got distracted and forgot about war and stuff. What’s the other terrible thing happening in the world now? Oh yes, money, and how we lost all of it after a few companies had to put up collateral on all those credit default swaps they made in secret, but then they didn’t have any reserves whatsoever, because saving is gay. Well the Treasury is finally releasing a plan to introduce basic, very basic regulations to the derivatives market. Why does the government hate capitalism? MORE »

Hey remember just like a couple months ago when everybody was so angry over the AIG bonuses? Get ready to be outraged all over again because duh, of course a whole bunch of people knew these bonuses were going to be awarded and they did nothing to stop it because they were too busy saving the whole financial system from ruin. Bad PR move! MORE »

Texas GOP clown Pete Sessions last made the news when he suggested the doomed Republicans become more like the Taliban. As the modern Republican is already a fundamentalist nut who buggers little boys, hates science, fears women and constantly fantasizes about being killed for/by God, the only thing left was for the remaining wingnuts to move into caves, with their tea bags and their goats. And this may well have happened, as only 21% of Americans reachable by telephone now admit to being Republican. Anyway, now Pete Sessions is saying Obama is intentionally (and magically) causing both unemployment and a decline in the stock markets. True, maybe?! MORE »

Do you own some terrible old car? Probably not! But you might be making payments on some terrible old car. Communist Premier Nobama and his Duma-Politburo (the House and Senate) have got a great deal for you: Just trade in your gas-guzzling sticker-covered crapmobilie full of McDonald’s bags for a shiny new better-mileage-getting Automobile of the Future, and you’ll get $4,500. That is, what, equal to about a year’s worth of unemployment? MORE »