“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
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Eugene Robinson: A Pope’s Pointed Message
“Some people continue to defend trickle-down theories which assume that economic growth, encouraged by a free market, will inevitably succeed in bringing about greater justice and inclusiveness in the world. This opinion, which has never been confirmed by the facts, expresses a crude and naive trust in the goodness of those wielding economic power and in the sacralized workings of the prevailing economic system. Meanwhile, the excluded are still waiting.”
That passage is not from some Occupy Wall Street manifesto. It was written by Pope Francis in a stunning new treatise on the Catholic Church and its role in society-and it is a powerful reminder that however tiresome the
New York Times Editorial Board: What You Don’t Know About Mortgages
Thanks largely to new rules from the Consumer Financial Protection Bureau, taking out a mortgage is not the risky business it was during the bubble. But it is still the largest and most complex financial transaction in the lives of most people. And it still involves inherent imbalances in expertise between lenders and borrowers, including the use of intermediaries who may or may not be trustworthy. In short, conditions for abuse still exist.
That is why the bureau’s new and long-awaited mortgage disclosure forms are important. It is also why they are disappointing. Required by the Dodd-Frank financial reform law, the new forms use an easy-to-read format to disclose complex terms; in addition to clear entries of principal, interest and closing costs, there is information on prepayment penalties and other complicated loan features. But the forms fall short in the crucial task of helping consumers assess and compare the total cost of various loans. Without that information, it is difficult for borrowers to know whether they are getting the best deal.
In the wake of Senate action last week to restore the Senate practice that nominees receive an up or down vote, there has been a great deal of hyperventilating about whether the rules change is consistent with the intent of the Founders and what it means for the future of the Senate.
Some have called it “tyranny.” Others, a “naked power grab.” In reality, the action taken by the Senate last week is consistent with both the Constitution and the Senate rules and two centuries of Senate tradition, and is fully aligned with the intent of the Founders as well. [..]
That is exactly what the Senate did. In fact, the original Senate rules placed no time limit on debate, but also allowed any Senator to make a motion “for the previous question,” which permitted a simple majority to halt debate on the pending question and bring the matter to an immediate vote. This motion for the previous question was eliminated in 1806 at the suggestion of Vice President Aaron Burr, largely because it was deemed superfluous.
Sadhbh Walshe: Walmart and Downton Abbey: Rampant Inequality and Detachment from Reality
We’re enthralled by the TV series and its ‘simpler time’. But the Walton family’s modern day aristocracy is anything but charming
I’m not exactly sure what it is about the hit British TV series, Downton Abbey, that has enthralled so many of us. The scenery is great, Lady Mary’s wardrobe is just fabulous, but there are plot holes so huge one could drive Lady Edith’s car through them. I suspect the fascination it provokes has something to do with nostalgia – a hankering for a simpler time, when everyone knew their place and where the classes, though separate and unequal, were at least able to be polite to one other. Whatever it is that we find so charming about the series, however, we should try to keep in mind that the rampant inequality it celebrates is not something we should be hankering after.
America has its own real-life upstairs/downstairs thing going on at the moment, best embodied by the Walton clan, who own the lion’s share of Walmart Stores, Inc. Walmart is the single largest private employer in America with a work force of some 1.3 million. Each of the four Walton’s who have an interest in the stores increased their net worth by $7bn last year alone. Meanwhile, the company’s sales associates, who make up the bulk of the work-force, earn an average of $8.81 per hour – less than the federal poverty level for a family of four.
Bob Burnett: Polarization: Worse Than You Think
Recent polls made it clear that Americans are fed up with acrimony and gridlock in Washington. Voters may blame Republicans more than Democrats but they’re not happy with either Party. Some political observers believe that if we only had competitive elections throughout the country — if most congressional districts weren’t gerrymandered — then we would have more moderates in Congress and, therefore, less polarization. Think again. Polarization is the new normal. [..]
So, what’s the problem?
If you’re a Republican, you’re likely to contend it’s the fault of Barack Obama — he’s very unpopular with the GOP rank-and-file, the majority of whom routinely blame him for everything that goes wrong.
If you’re a Democrat, you’re likely to argue it’s the fault of a small political group, Tea Party activists, who have taken control of the Republican Party and moved it savagely to the right. You blame the people who stand behind the Tea Party, a cabal of rich Republicans.
Both these stances are wrong.
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