Quotes of the day

But [North Korea's] existence is profound, confirming that an Orwellian state is possible.--Tim Kane

Like it or not, Goldman is a central part of the financial system, which means that it’s a central part of any bailout strategy. It can’t unilaterally say no to that, and I hope that it gets slapped down by Treasury as definitively as it was slapped down by the stock market yesterday.--Felix Salmon

First, we should close down as promptly as possible Fannie Mae and Freddie Mac. There never was a reason for those two institutions, other than to avoid the congressional budget process. The benefit that people got from Fannie and Freddie came from the subsidy to the mortgage interest rate. Congress could have passed that subsidy over and over again. They avoided passing it by taking the program off budget.--Allan Metzer

And now, with his donor base shrinking, Dodd has to face the first tough Senate race of his career with the mortgage scandal, the AIG bonus scandal, the pardon for a felonious friend scandal, the Irish cottage scandal and, as an extra, added distraction, the charge he was AWOL as chairman of the banking committee while the economy was collapsing. It's not hard to see why Dodd is redesigning himself as an outraged fixer of the financial mess that evolved while he was running for president.--Dick Ahles

Of course, I find [Walt Disney] interesting because it’s a form of self-flattery: he managed to make legit both sappy nostalgia and starry whiz-bang futurism. He loved the small town and the moon base.--James Lileks