Baseline Scenario (aka My New Favorite Blog) explains why the executive pay cap that Obama announced is less stern punishment for a misdeed and more “Your mother wants me to yell at you, so I’m going to raise my voice and you can slam your door. But we’ll meet in the kitchen later for ice cream”:

The economic news this week has focused on the battle over the stimulus plan and Obama’s cap on executive payouts at companies receiving bailout funds. Next week, Timothy Geithner will announce his plans regarding the banking system. Meanwhile, the U.S. financial system continues its collapse.

The bank bailouts of last year have had few results in making the economy any better than it was before. It could be argued that it is, at least, not any worse. The failure of Lehman Bro.- and the aftershock it caused- has the government ready to pitch money at any large financial institution that seems troubled. But the usage of that money by the institutions isn’t being monitored closely nor are they required to pump it back into the economy via loans.

On January 26th, the New York Times ran the best six words that have ever been part of any column William Kristol has ever written:

This is William Kristol’s last column.

Trust the Washington Post, however, to shred our short-lived joy. Yes, Wild Bill has found himself a home at the Post, in what appears to be their ongoing charity program for displaced wingnut columnists who have been completely, totally wrong about absolutely everything ever. And believe me, among such company Bill Kristol truly stands out.

To Supreme Court Justice Ruth Bader Ginsberg, who is in the hospital for treatment of pancreatic cancer. The cancer was caught during a routine screening and is in its early stages. Treatment options include surgery, radiation and/or chemotherapy.