Weekly Review — October 7, 2008, 12:00 am

Weekly Review

[Image: All In My Eye, December 1853]
An American cattleman.

The U.S. Senate and House of Representatives passed the Emergency Economic Stabilization Act of 2008. The legislation, which originated as a three-page proposal by Treasury Secretary Henry Paulson and grew to 451 pages after House and Senate negotiations, established the Troubled Asset Relief Program (TARP) to grant the Secretary of the Treasury up to $700 billion to buy troubled assets owned by financial institutions, to allow the Treasury to limit executive compensation and “golden parachutes” at those institutions, and to establish an oversight board to monitor the Treasury. The act also provides wooden arrow manufacturers an exemption from excise tax. House Speaker Nancy Pelosi rushed the legislation to President George W. Bush, who signed it and promised that the United States would maintain “a leading role in the global economy.” “If I were dictator,” said Senator John McCain, who voted for the act, “which I always aspire to be, I would write it a little bit differently.” McCain also suggested the act be vetoed because it included so much pork. “No matter what the stakes are,” he said, “you’ve got to stop this.”New York TimesABC NewsNew York TimesThink ProgressThink ProgressCalifornia Governor Arnold Schwarzenegger emailed Paulson to say that he may need a $7 billion loan for the state,Los Angeles Timesand in Akron, Ohio, a 90-year-old woman named Adele Polk shot herself in the chest as police tried to evict her from her foreclosed home. “I saw that blood,” said a neighbor, “and I said, ‘Oh, no. Miss Polk musta done shot herself.’” Responding to public outcry, Fannie Mae forgave Polk’s mortgage, which will allow her to return home if she recovers from her wounds.CNNAfter the bailout was signed into law, the Dow Jones Industrial Average fell below 10,000 for the first time in five years. “Today,” said an income strategist, “is watching the sky fall.”New York Times

Employment decreased for the ninth consecutive month, with the U.S. economy losing 159,000 jobs in September;New York Timesbetween April and July, nearly one million people enrolled in the federal food-stamp program.Washington PostNewt Gingrich, the former speaker of the House, suggested the United States solve its economic crisis by creating a website where people could post their ideas,Politicoand vice-presidential candidates Senator Joe Biden and Governor Sarah Palin debated in St. Louis. Commentators noted that during the debate Palin was successful in repeating Republican talking points, despite having appeared incoherent and ignorant of the basic principles of American government during interviews earlier in the week. “Oh, man,” said Palin, “it’s so obvious I’m a Washington outsider, and someone just not used to the way you guys operate.”New York TimesNASA discovered that snow falls on Mars.Washington PostRussian billionaire Alexander Lebedev and former Soviet President Mikhail Gorbachev teamed up to form a new political party that will promote democracy,Washington Postand in Brazil, where politicians often adopt new names for elections, six candidates had taken the name Barack Obama. Other candidates called themselves Cattle Ana, Jeep Johnny, Big Charlie Knives, Jorge Bushi, Chico Bin Laden, DJ Saddam, King of the Cuckolds, and Kung Fu Fatty.Telegraph

One hundred sixty-eight people were killed in a stampede when someone screamed “There’s a bomb!” at a crowded religious celebration in Jodhpur, India,Washington Postand a Baghdadsuicide bomber killed 14 people who had been celebrating the end of Ramadan. “Nobody expects anything like this,” said Jamal Tawfiq, a 28-year-old Iraqi who gathered body parts in a plastic bag.New York TimesMr. Clean died.Yahoo NewsThe U.S. State Department issued a security alert warning Americans to avoid visiting Bulgarian strip clubs;New York Timesgeneticists determined that the AIDS virus is about a century old;Washington Postand Mexican police recovered the stolen “condom mobile,” a truck used to promote the government’s HIV-AIDS awareness program. Thieves made off with the vehicle’s sound system, 5,000 condoms, and a motor used to inflate a 23-foot-long condom balloon. New York TimesArchaeologists unearthed a ceramic cup that may bear the first-ever written reference to Jesus: “Christ the magician.”Discovery NewsParents were taking advantage of Nebraska’s new safe-haven law??enacted in July to prevent “Dumpster babies” but also protecting children as old as eighteen??to get rid of unruly teenagers. “The appropriate response is to reach out to family, friends, and community resources,” said Todd Landry, the state director of children and family services. “What is not appropriate is just to say, ‘I??m tired of dealing with this,’ and drop the child off at a hospital.”New York TimesA seven-year-old boy broke into an Australian zoo, used a rock to bludgeon to death several lizards, and fed them and many still-living reptiles to Terry, the zoo’s crocodile. “By all accounts,” said the zoo’s director, “he’s quite a nasty seven-year-old.”USA Today

Share
Single Page

More from Claire Gutierrez:

Weekly Review May 31, 2011, 12:00 am

Weekly Review

Weekly Review May 30, 2011, 12:00 am

Weekly Review

Weekly Review March 22, 2011, 12:00 am

Weekly Review

Get access to 164 years of
Harper’s for only $39.99

United States Canada

CATEGORIES

THE CURRENT ISSUE

March 2015

A Sage in Harlem

= Subscribers only.
Sign in here.
Subscribe here.

The Man Stopped

= Subscribers only.
Sign in here.
Subscribe here.

The Spy Who Fired Me

= Subscribers only.
Sign in here.
Subscribe here.

Giving Up the Ghost

= Subscribers only.
Sign in here.
Subscribe here.

Invisible and Insidious

= Subscribers only.
Sign in here.
Subscribe here.

view Table Content

FEATURED ON HARPERS.ORG

Article
No Slant to the Sun·

= Subscribers only.
Sign in here.
Subscribe here.

“She didn’t speak the language, beyond “¿cuánto?” and “demasiado,” but that didn’t stop her. She wanted things. She wanted life, new experiences, a change in the routine.”
Photograph © Stuart Franklin/Magnum Photos
[Browsings]
Burn After Reading·

= Subscribers only.
Sign in here.
Subscribe here.

William Powell published The Anarchist Cookbook in 1971. He spent the next four decades fighting to take it out of print.
“The book has hovered like an awkward question on the rim of my consciousness for years.”
© JP Laffont/Sygma/Corbis
Article
The Fourth Branch·

= Subscribers only.
Sign in here.
Subscribe here.

“Both the United States and the Soviet Union saw student politics as a proxy battleground for their rivalry.”
Photograph © Gerald R. Brimacombe/The LIFE Images Collection/Getty Images
Article
The Spy Who Fired Me·

= Subscribers only.
Sign in here.
Subscribe here.

“In industry after industry, this data collection is part of an expensive, high-tech effort to squeeze every last drop of productivity from corporate workforces.”
Illustration by John Ritter
Article
Invisible and Insidious·

= Subscribers only.
Sign in here.
Subscribe here.

“Wherever we are, radiation finds and damages us, at best imperceptibly.”
Photograph © 2011 Massimo Mastrorillo and Donald Weber/VII

Number of U.S. congressional districts in which trade with China has produced more jobs than it has cost:

1

Young bilingual children who learned one language first are likelier than monolingual children and bilingual children who learned languages simultaneously to say that a dog adopted by owls will hoot.

An Oklahoma legislative committee voted to defund Advanced Placement U.S. History courses, accusing the curriculum of portraying the United States as “a nation of oppressors and exploiters.”

Subscribe to the Weekly Review newsletter. Don’t worry, we won’t sell your email address!

HARPER’S FINEST

Driving Mr. Albert

By

He could be one of a million beach-bound, black-socked Florida retirees, not the man who, by some odd happenstance of life, possesses the brain of Albert Einstein — literally cut it out of the dead scientist's head.

Subscribe Today