Michael B. Duff

The rush to recess gives Democrats little time to pass any major laws. That's why there have been signs in recent weeks that party leaders are planning an ambitious, lame-duck session to muscle through bills in December they don't want to defend before November. Retiring or defeated members of Congress would then be able to vote for sweeping legislation without any fear of voter retaliation.

Totally conspiracy theory at this point, but here's the gist. Banks are borrowing money from the Fed at 0% but the money they're getting isn't going into commercial or consumer loans. It's being used to buy U.S. Treasury bonds that return 1-3%. Awesome guaranteed income for the banks. Not practical if commercial or consumer loans were returning decent rates, but the recession is killing business and consumers are afraid to take on new debt. So instead of the Fed buying U.S. treasuries so the government can borrow forever, it's pouring money into the banks and the banks are doing it for them. Brilliant strategy if it's true, but it's basically just pure inflation. Printing money without looking like we're printing money.

The Affair of the Diamond Necklace was a mysterious incident in the 1780s at the court of Louis XVI of France involving his wife, Queen Marie Antoinette. The reputation of the Queen, which was already tarnished by gossip, was ruined by the implication that she had participated in a crime to defraud the crown jewellers of the cost of a very expensive diamond necklace. The Affair was historically significant as one of the events that led to the French populace's disillusionment with the monarchy, which, among other causes, eventually culminated in the French Revolution.