V-Day links.

* I feel stimulated, and I bet you do too. Here's Arlen Specter with your partisan post-mortem.

"When I came back to the cloak room after coming to the agreement a week ago today," said Specter, "one of my colleagues said, 'Arlen, I'm proud of you.' My Republican colleague said, 'Arlen, I'm proud of you.' I said, 'Are you going to vote with me?' And he said, 'No, I might have a primary.' And I said, 'Well, you know very well I'm going to have a primary.'" [...]

"I think there are a lot of people in the Republican caucus who are glad to see this action taken without their fingerprints, without their participation," he said.

Your modern Republican party.

* The headline reads, "Large Banks Are on the Brink of Insolvency." You heard it from Brad Miller first.

* Heath Ledger fans want the Joker retired in honor of Ledger's turn in the makeup.

"When Michael Jordan retired, they withdrew the number 23 jersey as an honor. It’s the same thing with Heath.”

Yes, it's exactly the same.

* Space debris. Via Cynical-C.

* Images from Watchmen. Clock's at 11:59...



* Paul Auster, science fiction writer.

* Joss Whedon, cultural humanist.

* And Henry David Thoreau, vegetarian.

Vegetarian ideas figured prominently in 19th-century intellectual circles. Though practicing vegetarians remained outside the mainstream, as they do today, vegetarianism itself was intriguing, its arguments compelling. Thoreau, for instance, was not a strict vegetarian, but he did believe that the vegetarian diet was “the destiny of the human race.” Not because animals were cute and fuzzy and therefore ought to be saved from brutality, but because they were dirty and difficult and expensive. “The practical objection to animal food in my case was its uncleanness,” he wrote in Walden, “and besides, when I had caught and cleaned and cooked and eaten my fish, they seemed not to have fed me essentially. It was insignificant and unnecessary, and cost more than it came to. A little bread or a few potatoes would have done as well, with less trouble and filth.” You can stand around in the forest, waiting to spear, skin, and roast a bunny for your next meal, but…why?

North Carolina's Rep. Brad Miller (the Fightin' 13th!) is trying to figure out what the banks are up to. More at MetaFilter.

John Kenneth Galbraith wrote that embezzlement is "the most interesting of crimes" for an economist. Embezzlement is almost always eventually discovered, but for a time results in "a net increase in psychic wealth," when the embezzler "has his gain" and the victim doesn’t miss it. Galbraith called the undiscovered and therefore unfelt loss "the bezzle."

According to Krugman, the stock in banks that are solvent only by virtue of an "optimistic" valuation of their assets "isn’t totally worthless," but the stock’s value is "entirely based on the hope that shareholders will be rescued by a government bailout." The "huge gift to banks shareholders at taxpayer expense," Krugman said, was likely to be "disguised as ‘fair value’ purchases of toxic assets."

So maybe insolvent banks are stalling for time, hoping that the economy turns around, that home prices will go back up, or that sick borrowers will get well and unemployed borrowers will find jobs. Maybe they want to enjoy the "psychic wealth" of paper solvency for as long as possible.

And maybe they’re hoping we’ll buy their bezzle.