Jim Sinclair’s Commentary

Now this is one way to get rid of a VP.

Obama Sends Biden on ‘Special Mission’ to Antarctica
Andy Borowitz
Posted January 22, 2009 | 08:57 AM (EST)

In the first major initiative of his presidency, President Barack Obama today dispatched Vice President Joe Biden on what he called "an important and special mission" to Antarctica.

The news of Mr. Biden’s unexpected trip appeared to take the Vice President by surprise, as he was in the middle of making a joke about Chief Justice John Roberts to members of the press corps when the president interrupted him with the news.

"Here’s how John Roberts sings the National Anthem," Mr. Biden was saying. "’Oh see can you say…’"

Mr. Obama, yanking away Mr. Biden’s microphone, then informed him of the extraordinary journey to the South Pole he was about to undertake.

The president was vague about what the mission to Antarctica would entail, but he did indicate that it could take "up to four years."

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Jim Sinclair’s Commentary

As if we did not already know this!

JPMorgan chief says worst of the crisis still to come: FT
Jan 14, 2009

LONDON (AFP) — The chief executive of US bank JPMorgan Chase, Jamie Dimon, told the Financial Times on Thursday that the worst of the economic crisis still lay ahead as hard-hit consumers default on their loans.

"The worst of the economic situation is not yet behind us. It looks as if it will continue to deteriorate for most of 2009," he told the business daily.

"In terms of our sector, we expect consumer loans and credit cards to continue to get worse."

Dimon said the bank — which bought rivals Bear Stearns and Washington Mutual last year — was prepared for a deterioration in consumer-orientated businesses but if things were worse than expected, it would have to cut costs further.

The interview was published after a fresh wave of selling hit US and European stock markets Wednesday, as an unrelenting flow of bad economic and corporate news sparked fears of a deepening global downturn.

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