04/20/2015 archive

“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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Mohammad Jared Zaraf: Mohammad Javad Zarif: A Message From Iran

WE made important progress in Switzerland earlier this month. With the five permanent members of the United Nations Security Council plus Germany, we agreed on parameters to remove any doubt about the exclusively peaceful nature of Iran’s nuclear program and to lift international sanctions against Iran.

But to seal the anticipated nuclear deal, more political will is required. The Iranian people have shown their resolve by choosing to engage with dignity. It is time for the United States and its Western allies to make the choice between cooperation and confrontation, between negotiations and grandstanding, and between agreement and coercion.

With courageous leadership and the audacity to make the right decisions, we can and should put this manufactured crisis to rest and move on to much more important work. The wider Persian Gulf region is in turmoil. It is not a question of governments rising and falling: the social, cultural and religious fabrics of entire countries are being torn to shreds.

Richard (RJ) Eskow: Social Security Trust — Or, Never Lend Money to a Conservative

Never lend money to a conservative. That’s one conclusion to be drawn from recent attacks on Social Security by Bloomberg View columnists Megan McArdle and Ramesh Ponnuru. Apparently promises, even legally executed ones, don’t mean much to their crowd.

McArdle recently expended 1249 words attempting to evade the government’s debt to the Social Security Trust Fund, never really getting much beyond the five-word assertion that “the trust fund isn’t real.” Ponnuru tried to argue that a cut isn’t really a cut.

It’s an odd spectacle to watch rightwingers, with their avowed hostility toward “big government,” arguing that the federal government should break its commitments and stiff middle-class retirees. Luckily they’re not very good at it.

Happy 420! I’ve got a few smoky things for ya! Then maybe go grab the chips!

Jump!  

Yanis Varoufakis and Joseph Stiglitz

Greece: Default or Grexit?

by Yves Smith, Naked Capitalism

Posted on April 17, 2015

A critical issue to keep in mind is that a default does not bring Greece relief. The prospect of a Grexit (remember, it’s rational for Greek depositors to prepare for the worst) means an acceleration of the ongoing bank run. The imposition of capital controls would further fray nerves domestically, given that polls show majority opposition to leaving the Eurozone. Ongoing cash hoarding plus uncertainty will further weaken the already very sick Greek economy. That will hit tax receipts. If Greece has to resort to issuing TANs or other government scrip to pay workers and pensioners, that will likely further damage confidence. Thus Greece will remain in the Troika’s sweatbox.

Thus even with its intention of remaining in the Eurozone, Syriza may be forced to contemplated a Grexit as it struggles to finance its budget after its primary surplus has vanished. Of course, that assumes that the government remains popular after it imposes capital controls and starts issuing funny money. But if it does, a Grexit is not impossible, since the creditors’ continued unwillingness to fund a defiant Greece will make it harder and harder for the government to meet commitments that it has defined as red lines, such as paying pensions and spending on humanitarian relief.

Thus even if a Grexit is probably not an immediate result of a Greek default, that does not necessarily mean that Greece remains in the Eurozone. Even though the costs of an exit are extremely high, the costs of staying in are set to increase.

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

April 20 is the 110th day of the year (111th in leap years) in the Gregorian calendar. There are 255 days remaining until the end of the year.

On this day in 1939, Billie Holiday records the first Civil Rights song “Strange Fruit”.

“Strange Fruit” was written by the teacher Abel Meeropol as a poem, it condemned American racism, particularly the lynching of African Americans. Such lynchings had occurred chiefly in the South but also in all other regions of the United States. He set it to music and with his wife and the singer Laura Duncan, performed it as a protest song in New York venues, including Madison Square Garden.

The song has been covered by numerous artists, as well as inspiring novels, other poems and other creative works. In 1978 Holiday’s version of the song was inducted into the Grammy Hall of Fame. It was also included in the list of Songs of the Century, by the Recording Industry of America and the National Endowment for the Arts.

In the poem, Meeropol expressed his horror at lynchings, possibly after having seen Lawrence Beitler‘s photograph of the 1930 lynching of Thomas Shipp and Abram Smith in Marion, Indiana. He published the poem in 1936 in The New York Teacher, a union magazine. Though Meeropol/Allan had often asked others (notably Earl Robinson) to set his poems to music, he set “Strange Fruit” to music himself. The piece gained a certain success as a protest song in and around New York. Meeropol, his wife, and black vocalist Laura Duncan performed it at Madison Square Garden. (Meeropol and his wife later adopted Robert and Michael, sons of Julius and Ethel Rosenberg, who were convicted of espionage and executed by the United States.)

Barney Josephson, the founder of Cafe Society in Greenwich Village, New York’s first integrated nightclub, heard the song and introduced it to Billie Holiday. Other reports say that Robert Gordon, who was directing Billie Holiday’s show at Cafe Society, heard the song at Madison Square Garden and introduced it to her. Holiday first performed the song at Cafe Society in 1939. She said that singing it made her fearful of retaliation, but because its imagery reminded her of her father, she continued to sing it. She made the piece a regular part of her live performances. Because of the poignancy of the song, Josephson drew up some rules: Holiday would close with it; second, the waiters would stop all service in advance; the room would be in darkness except for a spotlight on Holiday’s face; and there would be no encore.

Holiday approached her recording label, Columbia, about the song, but the company feared reaction by record retailers in the South, as well as negative reaction from affiliates of its co-owned radio network, CBS. Even John Hammond, Holiday’s producer, refused. She turned to friend Milt Gabler, whose Commodore label produced alternative jazz. Holiday sang “Strange Fruit” for him a cappella, and moved him to tears. Columbia allowed Holiday a one-session release from her contract in order to record it. Frankie Newton’s eight-piece Cafe Society Band was used for the session. Because he was worried that the song was too short, Gabler asked pianist Sonny White to improvise an introduction. Consequently Holiday doesn’t start singing until after 70 seconds. Gabler worked out a special arrangement with Vocalion Records to record and distribute the song.

She recorded two major sessions at Commodore, one in 1939 and one in 1944. “Strange Fruit” was highly regarded. In time, it became Holiday’s biggest-selling record. Though the song became a staple of her live performances, Holiday’s accompanist Bobby Tucker recalled that Holiday would break down every time after she sang it

   Strange Fruit

   Southern trees bear strange fruit,

   Blood on the leaves and blood at the root,

   Black body swinging in the Southern breeze,

   Strange fruit hanging from the poplar trees.

   Pastoral scene of the gallant South,

   The bulging eyes and the twisted mouth,

   Scent of magnolia sweet and fresh,

   Then the sudden smell of burning flesh!

   Here is fruit for the crows to pluck,

   For the rain to gather, for the wind to suck,

   For the sun to rot, for the tree to drop,

   Here is a strange and bitter crop.

One of the major things that the exposure of the Sony e-mails by Wikileaks revealed was the shift in campaign donations  to influence elections

Former Dem Senator Chris Dodd Advised Execs to Give to GOP: “Fundraising Does Have An Impact”

By Lee Fang, The Intercept

Chris Dodd’s first career was as the liberal U.S. Senator from Connecticut, a self-professed champion for working families and a Democratic presidential contender in 2008. But hacked emails from Sony offer new insight into how he operates in his second career, as the head of the Motion Picture Association of America, a lobby group for the movie industry.

On January 28, 2014, Dodd emailed executives from major motion picture studios to share two news articles. One revealed that Google had shifted its campaign donation strategy, giving more to Republican lawmakers, and another projected that the GOP would likely perform well in the midterm elections that year.

or to raise money by currying favor with corporations and their executives:

Hacked Sony emails reveal Cuomo fund-raising details

By Conor Skelding, Laura Nahmias and Bill Mahoney, Capital New York

Emails between Sony executives and Governor Andrew Cuomo’s campaign staff leaked as part of the Sony Pictures hack and published in full by WikiLeaks Thursday appear to show Sony executives believed donating to Cuomo was a good idea because he is a “strong protector” of New York’s film tax credit. [..]

The emails also appear to show Cuomo’s campaign pressing Sony to deliver $50,000 worth of donations before a July 15, 2014 campaign filing deadline as he ramped up his re-election campaign last summer.

The first email dates from Jan. 7, 2014, from Keith Weaver, ‎executive vice president of Worldwide Government Affairs at Sony, to Sony C.E.O. Michael Lynton, concerning a fund-raiser with $25,000 per person ticket prices for Cuomo held on January 23, 2014 at the home of Jim Gianopulos, chairman and C.E.O. of Fox Filmed Entertainment. That fund-raiser yielded $300,000 for Cuomo’s re-election campaign.

Citizens must be made aware of the massive influx of money from billionaires via super PACS to back candidates, and influence congressional and state legislative agendas in order to keep the Republic from further sliding into an oligarchy.

Representative Alan Grayson (D-FL) told Democracy Now!‘s Amy Goodman that if nothing is done to get money out of politics “we can kiss this country goodbye.”

I said on MSNBC that night five years ago that if we do nothing, you can kiss this country goodbye. Well, pucker up, because right now the millionaires and the billionaires and the multinational corporations are calling the shots with whatever they want in TPP, whatever they want in fast track-more generally, whatever they want. They get the bailouts. They get the tax breaks. They get the so-called deregulation. They get what they want here because they get what they pay for.

Bob Menendez Corruption Case Reads Like An Indictment Of Citizens United Ruling, Too

By Paul Blumenthal, Huffington Post

A prime example of the corruption is the indictment of Sen. Robert Menendezl (D-NJ).The indictment of Sen. Bob Menendez (D-N.J.) on public corruption charges is the first bribery case involving the use of corporate political spending to support a candidate since the Supreme Court’s 2010 Citizens United decision allowed corporations to do just that.

Justice Anthony Kennedy declared in the 5-4 majority opinion that corporations should be free to spend unlimited sums on independent political activities since “independent expenditures, including those made by corporations, do not give rise to corruption or the appearance of corruption.” Those making independent expenditures “may have influence over or access to elected officials,” but that “does not mean those officials are corrupt,” Kennedy wrote.

The Department of Justice begs to differ. Menendez’s indictment on Wednesday specifically ties two $300,000 contributions from Dr. Salomon Melgen’s Vitreo-Retinal Consultants to an officially independent super PAC — donations that were earmarked for Menendez’s 2012 re-election effort — to actions that the senator took on behalf of Melgen’s business interests.

This is exactly the kind of behavior that Kennedy could not fathom happening.

Justice Kennedy needed to get oout more.

There are now calls for a constitutional amendment that would overturn Citizens United. Sen. Bernie Sanders (VT-I) has reintroduced an amendment that would do just that

Sen. Sanders had to propose a new amendment because legislation that isn’t acted on by the previous Congress expires at the end of the session. Since Congress didn’t act on the amendment the last time Sanders filed it, he is bringing it back in the new Congress.

The key section of the amendment is Section 2. The second section would halt the Supreme Court’s money is free speech interpretation of the Constitution. The first section of the amendment deals directly with the idea that corporations are people, but the second section overturns the 1976 Buckley v. Valeo Supreme Court decision that money is speech. The second section of the amendment would throw out the entire basis for the Supreme Court’s rulings in campaign finance cases.

However, the chances of getting the 2/3rds majority in both houses of congress and 38 states are somewhere around zero to none. Passage was not Sen. Sanders’ point:

The point is to bring attention to the issue of what Citizens United continues to do to our electoral process. The most likely path to overturning Citizens United remains a Democratic presidential victory in the 2016 election. Two of the conservatives Justices who made up the majority in the Citizens United decision are 78 years old. The odds of one or both justices serving the last two years of President Obama’s term and another eight years under another potential Democratic president are slim. (It also wouldn’t be surprising to see the 81 year old Ruth Bader Ginsburg retire before President Obama leaves office.) The Supreme Court is due for a generational change, and if Democrats control the White House, that change could result in a 5-4 liberal leaning court.

In the meantime, Sen. Sanders is leading the fight to inform the American people about the toxic nature of unlimited money in their electoral process. The movement to overturn Citizens United needs and educated population, because outside of the Supreme Court, public pressure is the best way to get the billionaire dollars out of our elections is to have tens of millions of voices demand it.

The more citizens are made aware of the dark influence of billionaires emboldened by the Supreme Court, the better able to confront the candidates and elected officials on their policies and votes. This can be stopped by a truly informed electorate and taking back local and state governments.