Monday, July 05, 2010

A BP bankruptcy gets thinkable, would make foreign oil dependence and unemployment much worse; AC360 airs White House Letter

Today Anderson Cooper tweeted a letter from Tom Foreman to Barack Obama, White House letter #532, “When is a recovery not a recovery?” Try it here on AC360’s blog.  (In my first book, I talked about my own 1993 White House Letter before "don't ask don't tell".)

He says, with some indignation, that no one in the administration will suffer or walk in the shoes of the Biblical poor.

Suddenly the Democrats are made to look like the cronies of Wall Street and corporate America. We all knew that, ever since Bush appointed Hank Paulson.

But Congress is still stalled on extending unemployment benefits, some saying that it makes workers too picky about what they will take. As if going out and peddling the latest financial fraud was a dignified way to go back to work.

I covet Anderson Cooper’s job. It would be fun to spend your life videotaping every crisis. (On Sept. 15, 2008, he was wading in Texas hurricane waters, taping, unaware that a financial crisis would erupt in New York City the next day, a Sunday no less.) And I have to admit, Anderson paid his dues early in his career. So did Sebastian Junger. Sebastian has made a movie (“Restrepo”), and it’s time for Anderson to go from CNN reports (Planet in Peril) to Landmark Theater or AFI Silver documentary movies. Join forces with Di Caprio.

The Fifth of July (the name of a famous Vietnam-era play) gives Wall Street a break today, but the week ahead does not look good. Read Mark Riddix, “3 Reasons to Root Against a BP Bankruptcy”, here.  They’re already starting to talk about it. Is any oil giant one “mistake” away from catastrophe now?

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