WSJ reporter Kate Kelly is writing a book on the fall of Bear Stearns. But hers isn't done yet. But another book on the fall of Bear Stearns, House of Cards by William D. Cohan, just came out. And Kelly was surprised to find that Cohan's book included a quote about her, from former Bear CEO Jimmy Cayne, who called her a "cunt... whose capability is zero." And Cohan didn't contact her in advance, so Kelly never had a chance to respond. She probably couldn't have been perfectly candid even if she did respond, so here you go, Kate: Jimmy Cayne is an asshole.


The Washington Post is folding its standalone business section into the main news section to cut costs, as other papers have done. Luckily there is little business news these days.

Former Bush roboflack Scottie McClellan just had a baby (his wife, actually)! Can you imagine what a flag-burning hippie this child will grow up to be, according to the standard model of anti-parent rebellion? Should be great.


Hmmm, former employees of the now-dead Rocky Mountain News want to start a new online news site—"But the launch will only take place if In Denver Times lines up 50,000 subscribers [at $4.99/ month] by April 23." In other words, the launch won't take place.

Octogenarian gossipmonger Liz Smith—who is now permanently employed by a website, full time—tells Intelligencer that she just recently learned how to use email. "I would still be writing with a feather if they'd let me," she joshed jokingly, the kidder. If you think about it email is actually way easier than writing with a feather, so what's the big deal?

McClellan is the second high-ranking Bush administration official to endorse the Democratic presidential nominee in as many weeks, following former Secretary of State Colin Powell's surprise (and surprisingly moving) declaration of support for Obama last weekend.

If and when a third ex-Bushie declares for Obama — there is, conveniently, one more pre-election weekend clear for an announcement — we'll know this is a coordinated effort to produce maximum gain for Obama, not to mention maximum losses for McCain and his party.

McClellan's endorsement, by the way. came at a taping and doesn't air until Saturday night, in the debut episode of former sit-com star Hughley's new comedy/news show.

One would hope McClellan, given his former position, could make a more definitive statement about the administration's disclosure strategy, one way or the other. That he can't is one of many clues that the former flack is not the best person with whom to have a discussion of modern political ethics, as Stewart attempts to do in the following clip, by way of suggesting the administration may have committed war crimes.

And here, Cohen vents righteously about the righteous venting of the PR industry in response to Cohen's original righteous venting.

I'm not sure that McClellan knows this (he and I have never met or spoken), but PublicAffairs was at first skeptical when McClellan and his agent made their pitch. Doubtful enough that, says [PublicAffairs editor Lisa] Kaufman, founder/publisher Peter Osnos called around first, asking White House reporters what they thought of McClellan. "They told Peter that Scott was a straight shooter," says Kaufman. "That if he says he's going to tell the truth, he will tell the truth."

Obviously, I can't vouch for McClellan's veracity. I have, however, had a chance to read his book. And having also known and worked with Kaufman for several years, I can say this: "What Happened" was not, as Rove et al. have charged, written by his "New York editor." Stylistically, that is just not her voice on the page.

Of course, McClellan stands to earn some hefty residuals if his book keeps selling well, assuming the credulous former Bush mouthpiece has toughened up enough not to accept any B.S. from his publisher.

[Salon]

Bush misled U.S. on Iraq, former aide says in new book [AJC]