Wonk Watch

Wonk Watch

We read the smarties so you don't have to.

Posted Friday, June 5, 2009 - 3:48pm

Paul Krugman took the day off. Again.

Brad DeLong, meanwhile, posted copious amounts of information on Blue Dogs, unemployment, and new books. Particularly interesting is a post in which he calls out Michael Doyle on this McClatchy piece, which claims that Supreme Court nominee Sonia Sotomayor is of "modest means." And DeLong is right on the money—no person with a $1 million condo and "rights to defined benefit pensions with a market value of roughly $2.5 million" could be characterized as a modest earner.

Barry Ritholtz took his "Big Picture" with charts and graphs. Lots and lots of charts and graphs—nearly on the same level as Marshall from How I Met Your Mother. Like others of his ilk, Ritholtz latched onto the recent unemployment figures, choosing to examine temp help and the geography of job loss, in particular. The mapped visualization of jobs lost and gained over the last five years, which Ritholtz ported from elsewhere, is especially insightful and worth a looksee.

Felix Salmon spent the better part of the day wishing other people didn't suck at their jobs. After a brief, almost-kind word for the FDIC, he suggested that Citibank stop whining about regulation and hurry up with the task of finding a CEO who can plan and execute. Then he berated Bank of America for replacing its ranking risk-management officer with someone who, according to Salmon, has no idea how to manage risk. Next he sniped at the Treasury's unemployment projections for low-balling the mark and called foul on Bloomberg for a what he read as a lame rhetorical attempt to sweeten the real numbers.

Salmon's Friday magnum opus took WSJ's own Holman Jenkins to town for his much-abuzz apologia on the financial-services sector. Salmon found it lacking in certain analytic qualities, such as respect for historical fact. And attention to detail. And a nonideological perspective. And ... you get the point.

  • Amy Tennery is a proud former intern of The Big Money. She is currently an editorial assistant at The Real Deal and can be reached at at@therealdeal.com.
  • Gabriel Beltrone is an intern at The Big Money.

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Ritholtz graph

the graph Barry Ritholtz linked to is problematic in that it scales job losses with the diameter of the circle representing it, rather than the area. Your own colleagues did a better job last month at: http://slate.com/id/2216238/

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