I have not yet won the future, but I’m almost to the boss level.

• Paul Krugman tries to defend the banking industry on the carry trade. If you’re getting money for nothing, whether you borrow it back to the government at long-term rates or find another higher-yield product you’re making money in the exchange. And even Krugman agrees that there’s a lot of phony bank accounting going on.

• Dean Baker was on a roll yesterday, not only destroying the myth that Greece is in any way like the United States (for one, they don’t collect taxes in Greece, as I understand it), but also delving into the sharp declines in housing prices.

• Florida passed a nonpartisan redistricting initiative this year. Rick Scott is deliberately slow-walking it so Republicans can map districts.

• When Mohammed ElBaradei returns to Egypt, the disparate movement for change will have a leader. I don’t know if this will help or hurt them, actually.

• Here’s one way in which spending cuts have terrible consequences: all those sparkling derivatives rules can be tossed out the window.

• Yves Smith is a total buzzkill on the FCIC report, and I’m guessing she’s more right than wrong, but we’ll look to the evidence in the morning. Meanwhile, anything that makes Greenspan scramble for even a minute is good. He’s back to blaming Fannie and Freddie for the crisis. Hack.

• The House voted to end the public financing system for Presidential elections today, but Chuck Schumer’s response that “This… would bust one of the last dams protecting our election system from an uncontrolled flood of special interest money” rings a little hollow, considering Barack Obama opted out of the public system in the last election.

• The Marines changed their commander at the detention facility where Bradley Manning is being held. They are really sweating this. Meanwhile, who’s getting some bright ideas about indefinite detention policy? Afghanistan, of course!

• Ally Financial, the parent company of GMAC Mortgage, Jeffrey Stephan’s employer, and also the employer of one of the Bear Stearns double-dippers in a high executive capacity, wants to start an IPO.

• Al Franken’s latest bill would allow the federal government to negotiate bulk purchasing of prescription drugs through Medicare. Everyone’s looking for deficit-reduction items, right?

• Face it, New York Times, you want your own Wikileaks. You can admit it.

• How would the Romney Presidency look different from the Obama Presidency? Don’t Ask Don’t Tell repeal and Elizabeth Warren as an aide. That’s it.

• Leland Yee’s a state legislator in California of Chinese descent who criticized Rush Limbaugh for his ching-chong Chinaman shtick last week. That got him a mention on the Limbaugh show. Today, he got some lovely faxes: “Achtung! Fish Head Leeland Lee. Rush Limbaugh will kick your Chink ass and expose you for the fool you are.” He also got a pic of pickup truck dragging a noose.

• The nation’s courts – in Arizona and the nation – already were in crisis before the shooting of John Roll. Now Arizona had to declare a judicial emergency because of the case backlog.

• Mitch McConnell is the only acknowledged partisan warrior among a sea of bipartisan fetishist poseurs. McConnell knows what he can use to get his way, and that’s why he often wins.

• Jared Loughner researched political assassinations and solitary confinement before the shooting, a search of his computer finds.

• David Rivera could be the first casualty of the new culture of corruption. Note to self: a lot of politicians are sleazy.

• The Fed will stay the course on quantitative easing.

• Nouri al-Maliki quietly consolidates power.

• Are Republican Presidential hopefuls staying out of the nomination race because they would lose their free advertising on Fox News?

• Goodbye, color-coded terrorism warnings. Won’t miss you.

• This kind of censorship from theocratic regimes like Iran is deplora- oh, never mind.

• Dennis Kucinich sues the Congressional cafeteria $150,000 over an olive pit mistakenly left in one of their sandwiches.

“The World” is sinking into the sea. Really.

David Dayen

David Dayen