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Zoë Schlanger in the Atlantic: "Throw out your black plastic spatula. In a world of plastic consumer goods, avoiding the material entirely requires the fervor of a religious conversion. But getting rid of black plastic kitchen utensils is a low-stakes move, and worth it. Cooking with any plastic is a dubious enterprise, because heat encourages potentially harmful plastic compounds to migrate out of the polymers and potentially into the food. But, as Andrew Turner, a biochemist at the University of Plymouth recently told me, black plastic is particularly crucial to avoid." This is a gift link from laura h.

Mashable: "Following the 2024 presidential election results and [Elon] Musk's support for ... Donald Trump, users have been deactivating en masse. And this time, it appears most everyone has settled on one particular X alternative: Bluesky.... Bluesky has gained more than 100,000 new sign ups per day since the U.S. election on Nov. 5. It now has over 15 million users. It's enjoyed a prolonged stay on the very top of Apple's App Store charts as well. Ready to join? Here's how to get started on Bluesky[.]"

Washington Post: "Americans can again order free rapid coronavirus tests by mail, the Biden administration announced Thursday. People can request four free at-home tests per household through covidtests.gov. They will begin shipping Monday. The move comes ahead of an expected winter wave of coronavirus cases. The September revival of the free testing program is in line with the Biden administration’s strategy to respond to the coronavirus as part of a broader public health campaign to protect Americans from respiratory viruses, including influenza and respiratory syncytial virus (RSV), that surge every fall and winter. But free tests were not mailed during the summer wave, which wastewater surveillance data shows is now receding."

Out with the Black. In with the White. New York Times: “Lester Holt, the veteran NBC newscaster and anchor of the 'NBC Nightly News' over the last decade, announced on Monday that he will step down from the flagship evening newscast in the coming months. Mr. Holt told colleagues that he would remain at NBC, expanding his duties at 'Dateline,' where he serves as the show’s anchor.... He said that he would continue anchoring the evening news until 'the start of summer.' The network did not immediately name a successor.” ~~~

~~~ New York Times: “MSNBC said on Monday that Jen Psaki, the former White House press secretary who has become one of the most prominent hosts at the network, would anchor a nightly weekday show in prime time. Ms. Psaki, 46, will host a show at 9 p.m. Tuesday through Friday, replacing Alex Wagner, a longtime political journalist who has anchored that hour since 2022, according to a memo to staff from Rebecca Kutler, MSNBC’s president. Ms. Wagner will remain at MSNBC as an on-air correspondent. Rachel Maddow, MSNBC’s biggest star, has been anchoring the 9 p.m. hour on weeknights for the early days of ... [Donald] Trump’s administration but will return to hosting one night a week at the end of April.”

New York Times: “Joy Reid’s evening news show on MSNBC is being canceled, part of a far-reaching programming overhaul orchestrated by Rebecca Kutler, the network’s new president, two people familiar with the changes said. The final episode of Ms. Reid’s 7 p.m. show, 'The ReidOut,' is planned for sometime this week, according to the people, who were not authorized to speak publicly. The show, which features in-depth interviews with politicians and other newsmakers, has been a fixture of MSNBC’s lineup for the past five years. MSNBC is planning to replace Ms. Reid’s program with a show led by a trio of anchors: Symone Sanders Townsend, a political commentator and former Democratic strategist; Michael Steele, a former chairman of the Republican National Committee; and Alicia Menendez, the TV journalist, the people said. They currently co-host 'The Weekend,' which airs Saturday and Sunday mornings.” MB: In case you've never seen “The Weekend,” let me assure you it's pretty awful. ~~~

~~~ AP Update: "Joy Reid is leaving MSNBC, the network’s new president announced in a memo to staff on Monday, marking an end to the political analyst and anchor’s prime time news show."

Y! Entertainment: "Meanwhile, [Alex] Wagner will also be removed from her 9 pm weeknight slot. Wagner has already been working as a correspondent after Rachel Maddow took over hosting duties during ... Trump’s first 100 days in office. It’s now expected that Wagner will not return as host, but is expected to stay on as a contributor. Jen Psaki, President Biden’s former White House press secretary, is a likely replacement for Wagner, though a decision has not been finalized." MB: In fairness to Psaki, she is really too boring to watch. On the other hand, she is White. ~~~

~~~ RAS: "So MSNBC is getting rid of both of their minority evening hosts. Both women of color who are not afraid to call out the truth. Outspoken minorities don't have a long shelf life in the world of our corporate news media."

New York Times: “Chuck Todd, the former 'Meet the Press' moderator and a longtime fixture of NBC’s political coverage, told colleagues on Friday that he was leaving the network. A nearly two-decade veteran of NBC, Mr. Todd said that Friday would be his last day at NBC.... Mr. Todd, 52, is the latest TV news star to step aside at a moment when salaries are being scrutinized — and slashed — by major media companies. Hoda Kotb exited NBC’s 'Today' show this month, and Neil Cavuto of Fox News and CNN’s Chris Wallace departed their cable news homes late last year.”

CNBC: “ CNN plans to lay off hundreds of employees Thursday [Jan. 23] as it refocuses the business around a global digital audience.... The layoffs come as CNN is rearranging its linear TV lineup and building out digital subscription products. The cuts will help CNN lower production costs and consolidate teams, said the people, who spoke on the condition of anonymity to discuss nonpublic changes. Certain shows that are produced in New York or Washington may move to Atlanta, where production can be done more cheaply, said the people. For the most part, the job cuts won’t affect CNN’s most recognizable names, who are under contract, said the people. CNN has about 3,500 employees worldwide.... NBC News is also planning cuts later this week, according to people familiar with the matter who spoke on the condition of anonymity to discuss nonpublic changes. While the exact number couldn’t be determined, the job losses will be well under 50....”

Page Links

Thursday

Jan272011

Financial Crisis Inquiry

I'll probably bring this post forward a few times as new analysis comes in. Today I've added the post by Shahien Nasiripour.

The main page for the commission's 633-page report is here.

The Republican members of the commission wrote a dissenting report, the summary of which is here (pdf).

Sewell Chan of the New York Times: "The blow-by-blow chronicle of regulatory negligence and Wall Street recklessness released Thursday by a Congressional commission amounts to a scathing warning to the government about ways to prevent a recurrence of the 2008 financial crisis. Drawing on millions of e-mails, testimony and other documents, the final report of the Financial Crisis Inquiry Commission delves deeply into the actions — and negligence — of officials at regulatory agencies, investment banks, credit rating companies and mortgage lenders."

Zachary Goldfarb & Brady Dennis report on the report for the Washington Post.

Marcy Gordon & Daniel Wagner report for the AP.

CW: his hour-&-10-min. press conference might bore you to tears, but I'm planning to watch a bit of it:

Shahien Nasiripour of the Huffington Post: "Wall Street firms that sold mortgage-backed securities appear to have violated federal securities laws by misleading investors on the quality of the underlying mortgages, a bipartisan panel created by Congress to investigate the root causes of the financial crisis concluded. Banks that sold home loan bonds often didn't disclose key details that would have helped investors accurately judge the quality of the investments. For example, investors were rarely told whether the mortgages failed to meet the banks' own standards."

Darrell Issa Gets into It. Robert Schmidt & Phil Mattingly of Bloomberg: "Adding to the turmoil [of the divided Commission], Representative Darrell Issa this week demanded thousands of pages of documents from the FCIC as his House Oversight and Government Reform Committee ramps up an investigation into allegations of overspending, partisanship and conflicts of interest. The California Republican’s staff also sent letters to former commission employees, asking them to preserve documents."

Sewell Chan of the New York Times, January 25: "The 2008 financial crisis was an 'avoidable' disaster caused by widespread failures in government regulation, corporate mismanagement and heedless risk-taking by Wall Street, according to the conclusions of a Congressional inquiry. The government commission that investigated the financial crisis casts a wide net of blame, faulting two administrations [Clinton & Bush II], the Federal Reserve and other regulators for permitting a calamitous concoction: shoddy mortgage lending, the excessive packaging and sale of loans to investors, and risky bets on securities backed by the loans. ...

... January 26. The commission's dissenters issued their reports Wednesday.

"Backdoor Bailout." Shahien Nasiripour of the Huffington Post: "Goldman Sachs collected $2.9 billion from the American International Group as payout on a speculative trade it placed for the benefit of its own account, receiving the bulk of those funds after AIG received an enormous taxpayer rescue, according to the final report of an investigative panel appointed by Congress. The fact that a significant slice of the proceeds secured by Goldman through the AIG bailout landed in its own account -- as opposed to those of its clients or business partners -- has not been previously disclosed. These details ... are among the more eye-catching revelations in the report to be released Thursday by the bipartisan Financial Crisis Inquiry Commission."

CW Note: the Commission's report isn't out yet. We'll have much more on it when it's released to the public. I think maybe Chan has an exclusive here (not sure about that).

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