Murdoch Turns Public Face to Political Center:

The New York Times reports this morning that Rupert Murdoch's Fox News (sic) has become friendlier to Democrats. Murdoch, known to be about as conservative a business man as they come, a dragon gathering a huge pot of gold to sit on, has ordered his Fox mouth pieces to behave in a more friendly manner to the Democrats.

(Note: There is NO political "left" in the U. S.)

Lest you feel shock over the turn of events, you should realize that Murdoch has a long standing history of buttering whatever bread he is offered. The importance of this behavior lies in the fact that Murdoch evidently believes a Democratic sweep is likely in November.

Has Sen. McCain got a heavy overcoat?

Federal Reserve Set to Regulate Plastic:

Today's Washington Post reports on long overdue regulation of the credit card industry that has gone completely bonkers:

The Federal Reserve and two other banking regulators are set to unveil today one of the most aggressive efforts in decades to crack down on the credit card industry, prohibiting practices such as arbitrarily raising interest rates on outstanding balances.

The current mess came about through the deregulation of the industry, as credit card companies and banks sought to expand the use of credit cards and to enhance their own profitability. Eventually the practice was doomed to go the way of SUVs in an oil crisis.

Trying to collect 29 percent interest out of someone who can't afford to pay the minimum on a 7 percent loan is just plain stupid.