Boston News

• GM files for bankruptcy. Washington will give the company an additional $30 billion to play with, and will take a 60 percent stake in return. The U.S. isn't the only government taking ownership: Another 12 percent goes to Canada.

• The Nevada legislature overrides a veto and legalizes domestic partnerships.

• Someone who hasn't parsed the phrase "pro-life" very carefully has killed an abortionist.

• The emergency powers behind the Fed's Wall Street bailouts.

• Irony alert: A report making the case for stronger intellectual property rights was partly plagiarized.

Say you're a Harvard professor and you decide to dabble a bit in politics. You decide to move back to Canada in hopes of becoming prime minister. Shouldn't be that hard. Before you go, you tell the school paper that if things don't work out, you'll probably return to Boston and pick up where you left off.

That would appear to have been Michael Ignatieff's plan, but things might not work out the way he was hoping. Harvard is going through some tough times. According to Boston magazine, its endowment, onces a porcine $37 billion, is down about $11 billion due to some unfortunate investment setbacks. And since it's not making any money, Harvard has to withdraw about $1.4 billion from capital to cover its operating costs, which would normally have been paid for out of profits. Which leaves a relatively paltry $24 billion left in the fund.

Not bad by most standards, but Harvard is used to big-time spending, without worrying much about where the money comes from. (Hey, that reminds me of a federal political party here in Canada. No wonder Ignatieff felt at home with the Liberals!)  It has big expenses, and $24 bil isn't going to cover them. In fact, says the magazine:

 While Harvard officials are doing their public-face best to downplay the problem, the numbers don't lie, and this economic crunch will leave the school a profoundly changed place. Harvard will have to become smaller and academically more modest, and as it does it will chafe at having grand plans without the resources to fund them. For the first time in decades, it will worry about merely paying its bills. The university will have to decide: If it is no longer so rich that it doesn't have to make choices, what does it really value? What are its priorities? It won't be a comfortable debate.

"We are in trouble," says one Crimson professor. In the aftermath of deep and damaging cuts, "there is a real chance that Harvard will no longer be considered the best there is."

Uh-oh. If things take a wrong turn in Ottawa, the Liberal leader might have to reconsider Plan B. It's just possible the old school won't be waiting with open arms, or without an open chequebook anyway. Maybe he'll have to stick around Ottawa longer. Maybe he'll have to teach at a Canadian university. Oh, the shame. Hey, maybe that's why he's so eager to make it easier to collect EI.

Kelly McParland
National Post

IT'S ON!...
Dems are attacking Republican Representatives in radio ads for not spending enough taxpayer money!
Really!

Barack Obama will quadruple the deficit this year.

Democrats believe they have a winning formula for 2010.
They are airing ads attacking Republican Representatives for not voting on the massive Democratic spending bills this year.
Roll Call reported:

The Democratic Congressional Campaign Committee is running radio advertisements for the next week targeting six House Republicans, according to details obtained by Roll Call. The committee blasted these GOP Members for voting against Democrats?" Economic Recovery and Reinvestment Act, which passed earlier this year.

Radio advertisements, automated calls and e-mails will target Reps. Don Young (Alaska), Brian Bilbray (Calif.), Tom Rooney (Fla.), Thaddeus McCotter (Mich.), Peter King (N.Y.) and Charlie Dent (Pa.).

?SDid you know Congressman King voted against the economic recovery plan?? says an announcer in the spot running in King?"s district. ?SHe opposed an $800 tax cut and opposed creating or saving 215,000 New York jobs. Tell King to put New York first.?

In addition to the radio advertisement, which is scheduled to air during drive time, automatic phone calls will run in each of the Republicans?" districts. The automated calls refer to specific projects in the districts that could be funded by the stimulus, such as widening a road in McCotter?"s district.

Obviously, the democrats didn't get the message from the California voters 10 days ago.

How much is NBC's Brian Williams in the tank for President Obama?

Well, at the end of part I of the Nightly News's "Inside the Obama White House" special report Tuesday, Williams, as he was saying good night to the president, actually bowed his head.

I kid you not (embedded video and partial transcript below the fold):?

BRIAN WILLIAMS: Now it is first family time and time for us to say good night. Mr. President...

Pres. OBAMA: All right.

WILLIAMS: ...that's your elevator.

Pres. OBAMA: It is. Thank you.

WILLIAMS: Thank you, sir. (bows head) Have a good evening.

Pres. OBAMA: Appreciate it. Thank you very much.

WILLIAMS: We'll see you Tuesday. Thank you.

Pres. OBAMA: Thank you.

Any questions?