Author's posts

Rant of the Week: Stephen Colbert

Bill O’Reilly’s “Pinheads & Patriots”

Bill O’Reilly supports America’s troops by sending them what they need most on the battlefield: his book.

On This Day In History October 23

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.

October 23 is the 296th day of the year (297th in leap years) in the Gregorian calendar. There are 69 days remaining until the end of the year.

On this day in 1921, in the French town of Chalons-sur-Marne, an American officer selects the body of the first “Unknown Soldier” to be honored among the approximately 77,000 United States servicemen killed on the Western Front during World War I.

According to the official records of the Army Graves Registration Service deposited in the U.S. National Archives in Washington, four bodies were transported to Chalons from the cemeteries of Aisne-Marne, Somme, Meuse-Argonne and Saint-Mihiel. All were great battlegrounds, and the latter two regions were the sites of two offensive operations in which American troops took a leading role in the decisive summer and fall of 1918. As the service records stated, the identity of the bodies was completely unknown: “The original records showing the internment of these bodies were searched and the four bodies selected represented the remains of soldiers of which there was absolutely no indication as to name, rank, organization or date of death.”

The four bodies arrived at the Hotel de Ville in Chalons-sur-Marne on October 23, 1921. At 10 o’clock the next morning, French and American officials entered a hall where the four caskets were displayed, each draped with an American flag. Sergeant Edward Younger, the man given the task of making the selection, carried a spray of white roses with which to mark the chosen casket. According to the official account, Younger “entered the chamber in which the bodies of the four Unknown Soldiers lay, circled the caskets three times, then silently placed the flowers on the third casket from the left. He faced the body, stood at attention and saluted.”

Bearing the inscription “An Unknown American who gave his life in the World War,” the chosen casket traveled to Paris and then to Le Havre, France, where it would board the cruiser Olympia for the voyage across the Atlantic. Once back in the United States, the Unknown Soldier was buried in Arlington National Cemetery, near Washington, D.C.

The World War I Unknown lay in state in the Capitol Rotunda from his arrival in the United States until Armistice Day, 1921. On November 11, 1921, President Warren G. Harding officiated at the interment ceremonies at the Memorial Amphitheater at Arlington National Cemetery. During the ceremony, the World War I Unknown was awarded the Victoria Cross by Admiral of the Fleet Lord Beatty, on behalf of King George V of the United Kingdom. (The Victoria Cross being the highest award for valour issued in the UK, on par with the Medal of Honor. Earlier, on March 4, 1921, the British Unknown Warrior was conferred the U.S. Medal of Honor by General of the Armies John Pershing.) In 1928, the Unknown Soldier was presented the Silver Buffalo Award for distinguished service to America’s youth by the Boy Scouts of America.

Occupy Wall St. Livestream: Day 37

Watch live streaming video from globalrevolution at livestream.com

OccupyWallStreet

The resistance continues at Liberty Square, with free pizza 😉

“I don’t know how to fix this but I know it’s wrong.” ~ Unknown Author

Occupy Wall Street NYC now has a web site for its General Assembly  with up dates and information. Very informative and user friendly. It has information about events, a bulletin board, groups and minutes of the GA meetings.

NYC General Assembly #OccupyWallStreet

Pete Seeger & Occupiers March to Columbus Circle

by Kevin Gosztola at FDL

Spirits were high last night as occupiers were joined by 92-year-old folk legend Pete Seeger for a late night march to Columbus Circle, where a midnight performance featuring Seeger’s grandson Tao Seeger, Arlo Guthrie, composer David Amram, bluesman Guy Davis and others.

A live stream of the action offered millions an opportunity to view the transcendental nature of the moment that was unfolding. The march was one of the most inspiring yet because the repetitive chants were abandoned for folk songs Pete Seeger & others are known for singing. “Ain’t Gonna Study War No More,” “O Mary Don’t You Weep” & “This Little Light of Mine” were all sung by people while marching to Columbus Circle.

[]

It was truly a spiritual experience and opportunity for younger generations to hear some of the best folk/protest music in the history of America. Songs like “This Land is Your Land” have become patriotic songs yet the song written by Woody Guthrie is actually a song for revolutionaries. That is why a sanitized version of the song is often sung. Pete Seeger actually sang the version with lost verses during a “We Are One” concert at the Lincoln Memorial that was part of Obama’s Inauguration.

This is one of the typically absent verses:

“As I went walking I saw a sign there

   And on the sign it said “No Trespassing.”

   But on the other side it didn’t say nothing,

   That side was made for you and me.”

Pete Seeger, Tao Rodríguez-Seeger, Arlo Guthrie, Guy Davis, Tom Paxton, Tom Chapin and David Amram joined Occupy Wall Street on a march from Broadway and 95th Street in the Upper West Side of Manhattan, down to Columbus Circle at Broadway and 59th Street. When we got there, this is what happened.

Paul Krugman says the movement has changed the policy conversation in Washington

Nobel Prize-winning economist and New York Times columnist Paul Krugman celebrates the Occupy Wall Street movement’s ability to refocus the country’s and Washington’s attention from deficits to jobs when economists like Krugman could not. “It turns out that no number of learned papers on how we’re doing this wrong, no number of sober editorials on how we’re doing this wrong was making a dent.”

Trying To Unwarp The Debate

by Paul Krugman

I visited Zuccotti Park yesterday. Michael Moore gave a short speech, transmitted by the human microphone. I gather that right-wingers are claiming that OWS is anti-Semitic; someone forgot to tell the excellent Klezmer band.

Overall, what struck me was how non-threatening the thing is: a modest-sized, good-natured crowd, mostly young (it was a cold and windy evening) but with plenty of middle-aged people there, not all that scruffy. Hardly the sort of thing that one would expect to shake up the whole national debate. Yet it has – which can only mean one thing: the emperor was naked, and all it took was one honest voice to point it out.

As for how the emperor got that naked: read Ari Berman’s article on the austerity class, and its dominance in Washington.

‘Occupy’ camps provide food, shelter for homeless

PORTLAND, Ore. (AP) – When “Occupy Wall Street” protesters took over two parks in Portland’s soggy downtown, they pitched 300 tents and offered free food, medical care and shelter to anyone. They weren’t just building, like so many of their brethren across the nation, a community to protest what they see as corporate greed.

They also created an ideal place for the homeless. Some were already living in the parks, while others were drawn from elsewhere to the encampment’s open doors.

Punting the Pundits: Sunday Preview Edition

Punting the Punditsis 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.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

The Sunday Talking Heads:

This Week with Christiane Amanpour: Guests are Secretary of State Hillary Clinton, Sen. John McCain (R-AZ), AFL-CIO President Richard Trumka and Chamber of Commerce President Tom Donohue.

Face the Nation with Bob Schieffer: Guests are Rep. Michele Bachmann (R-MN) and former Sen. Rick Santorum (R-PA)

The Chris Matthews Show: This weeks panel guest are Gloria Borger, CNN Senior Political Analyst, Michael Duffy, TIME Magazine Assistant Managing Editor, David Ignatius, The Washington Post Columnist and Kelly O’Donnell, NBC News Capitol Hill Correspondent.

Meet the Press with David Gregory: Guests are Secretary of State Hillary Clinton and Rep. Ron Paul (R-TX).

State of the Union with Candy Crowley: Secretary of State Hillary Clinton is getting around. Other guests are Vice President Joe Biden and Senate Minority Leader Mitch McConnell (R-KY).

Dean Baker: Are regulations killing US jobs?

Politicians pushing right-wing positions assume they can say anything about economics with little scrutiny.

Politicians pushing right-wing positions in public debate now operate with the assumption that they can get away with saying anything without getting serious scrutiny from the media. That is why right-wing politicians repeatedly blame government regulation for the failure of the economy to generate jobs. Even though there is no truth whatsoever to the claim, right-wing politicians know that the media will treat their nonsense respectfully in news coverage.

If political reporters did their job, they would make an effo to determine the validity of the regulation-killing-jobs story and expose the politicians making the claim as either ignorant or dishonest, just as if a politician was going around claiming that September 11th was an inside job. However, today’s reporters are either too lazy or incompetent to do their homework. What follows is a bit of a how-to manual to make reporters’ jobs easier.

Paul Krugman: Greenspan Blames the Victims of Europe’s Woes

Alan Greenspan, the former chairman of the Federal Reserve, has written another deeply misleading, destructive op-ed. Also, the sun rose in the east.

In a commentary article for The Financial Times headlined “Europe’s Crisis Is All About the North-South Split,” published on Oct. 6, Mr. Greenspan writes: “Northern Europe in effect has been subsidizing southern European consumption from the onset of the euro on January 1, 1999. It is not a recent phenomenon.”

Mr. Greenspan is quickly establishing himself as the worst ex-Fed chairman of all time. But since he has introduced a brand new fallacy into the debate, it’s worth taking on.

Robert Reich: The Flat-Tax Fraud, and the Necessity of a Truly Progressive Tax

Herman Cain’s bizarre 9-9-9 plan would replace much of the current tax code with a 9 percent individual income tax and a 9 percent sales tax. He calls it a “flat tax.”

Next week Rick Perry is set to announce his own version of a flat tax. Former House majority leader Dick Armey — now chairman of Freedom Works, a major backer of the Tea Party funded by the Koch Brothers and other portly felines (I didn’t say “fat cats”) — predicts this will give Perry “a big boost.” Steve Forbes, one of America’s richest billionaires, who’s on the board of the Freedom Works foundation, is delighted. He’s been pushing the flat tax for years.

The flat tax is a fraud. It raises taxes on the poor and lowers them on the rich.

Pumpkins, Not Just For Carving

When most of us think of pumpkins, we think of the orange orbs that get carved up for Halloween and pumpkin pie with gobs of whipped cream for dessert at Thanksgiving but pumpkins come in all shapes, colors, sizes and varieties. Some are good only for decoration, while others are not only decorative but very tasty in pies, soups and stews.

According to Wikipedia pumpkin “is a gourd-like squash of the genus Cucurbita and the family Cucurbitaceae (which also includes gourds). It commonly refers to cultivars of any one of the species Cucurbita pepo, Cucurbita mixta, Cucurbita maxima, and Cucurbita moschata, and is native to North America.” Some of the fun activities besides decorative carving for Halloween are Festivals and competitions with pumpkin chucking being among the most popular. Chucking has become so popular that some competitors grow their own special varieties that will survive being shot from catapults and cannons. The festivals are most dedicated to the competition for recipes and the competition for the largest pumpkin. This year that honor went to a 1818 pound beauty from Canada that was on display at the New York Botanical Garden in the Bronx.

The pumpkin is one of the main symbols of Halloween and the Wiccan holiday of Samhain, which is a celebration of the end of the year, the final harvest and the coming of winter. The earliest that a craved pumpkin was associated with Halloween is 1866. Throughout Britain and Ireland the turnip has traditionally been used at Halloween, but immigrants to North America used the native pumpkin, which are both readily available and much larger, making them easier to carve than turnips.

In cooking, the the fleshy shell, seeds, leaves and flowers are all edible. Canned pureed pumpkin is readily available in stores, as are the small, sweet variety of fresh pumpkin for the ambitious cook to make their own puree or for stews. When it comes to pies, the easiest is the canned, my favorite being Libby’s with the recipe on the label, label, label. It’s the only recipe I have ever used for pumpkin pie and I’ve never has a complaint.

Pumpkin and all it parts are also very nutritious, containing many vitamins, minerals and anti-oxidents. There is also an interesting medical study of pumpkin extract on type-1 diabetic rats:

(P)ublished in July 2007, suggests that chemical compounds found in pumpkin promote regeneration of damaged pancreatic cells, resulting in increased bloodstream insulin levels. According to the research team leader, pumpkin extract may be “a very good product for pre-diabetic people, as well as those who already have diabetes,” possibly reducing or eliminating the need for insulin injections for some type-1 diabetics. It is unknown whether pumpkin extract has any effect on diabetes mellitus type 2, as it was not the subject of the study.

One of my favorite recipes is Pumpkin Cheesecake with Bourbon Sour Cream Topping that is more popular than pie with my family.

Photobucket

Recipe and baking tips are below the fold
 

Health and Fitness News

Welcome to the Stars Hollow Health and Fitness weekly diary. It will publish on Saturday afternoon and be open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.

Questions are encouraged and I will answer to the best of my ability. If I can’t, I will try to steer you in the right direction. Naturally, I cannot give individual medical advice for personal health issues. I can give you information about medical conditions and the current treatments available.

You can now find past Health and Fitness News diaries here and on the right hand side of the Front Page.

A Surfeit of Pesto

Photobucket

Summer is long gone, but my basil doesn’t know that. When tomatoes are around I have no trouble staying on top of my crop, as rare is the tomato salad on my table that isn’t showered with slivered basil leaves. Now I’m making big batches of puréed basil with olive oil to freeze and use later for pesto and pistou (the Provençal version of pesto, minus the pine nuts).

Pesto is a nutritionally dense condiment; basil is a great source of flavonoids that are believed to have antioxidant and antibacterial properties. It’s also an excellent source of vitamin K, and a very good source of iron, calcium and vitamin A.

Pesto and Pistou

You can freeze pesto or pistou for several months, and it will keep in the refrigerator for a few days. If you are making this for the freezer, you’ll get the best results if you purée the basil with the olive oil and salt only. When ready to use, mash the garlic and pine nuts, blend in the thawed basil purée, and add the cheese.

Potato and Pesto Gratin

You can assemble this several hours before baking.

Broccoli Pesto

You can use this bright mixture as a dip, a spread or a sauce with pasta.

Pesto Portobellos

Although these are best when served right away, I didn’t get complaints when I reheated these several hours after making them.

Quinoa With Roasted Winter Vegetables and Pesto

This combination of sweet vegetables with pungent pesto is great for a simple grain and vegetable bowl.

Winter Vegetable Soupe au Pistou

This is a big, simple soup made with winter vegetables – all diced small and thrown into a big pot with water and simmered for an hour. It’s garnished with the Provençal version of pesto, which does not contain any pine nuts. It makes a hearty meal.

Punting the Pundits

“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.

Thanks to ek hornbeck, click on the link and you can access all the past “Punting the Pundits”.

Spencer Ackerman: The Iraq War Ain’t Over, No Matter What Obama Says

President Obama announced on Friday that all 41,000 U.S. troops currently in Iraq will return home by December 31. “That is how America’s military efforts in Iraq will end,” he said. Don’t believe him.

Now: it’s a big deal that all U.S. troops are coming home. For much of the year, the military, fearful of Iranian influence, has sought a residual presence in Iraq of several thousand troops. But arduous negotiations with the Iraqi government about keeping a residual force stalled over the Iraqis’ reluctance to provide them with legal immunity.

But the fact is America’s military efforts in Iraq aren’t coming to an end. They are instead entering a new phase. On January 1, 2012, the State Department will command a hired army of about 5,500 security contractors, all to protect the largest U.S. diplomatic presence anywhere overseas.

David Sirota: The Choice Between Democracy and Autocracy

Hear ye, hear ye! Let it be known that in this 10th month of the first year of His Majesty King John Hickenlooper’s reign, the sovereign governor of the Kingdom of Colorado handed down an edict closing the grounds of the Capitol palace to the public and ordering his praetorian guard to arrest the peaceful Occupy Denver protesters assembled at the castle gates.

This royal order, which made international headlines last week, was all about intimidating imagery. Just as King John had hoped, the iconic photograph to emerge from the sweep was a front-page Denver Post photo of a heavily armed police officer menacingly guarding the Capitol-a deliberate visual message telling the despot’s subjects to retreat or face consequences. He later told a reporter that he was aiming to preemptively crush “something that could easily catch on.”

Back on the East Coast, it was much the same, as His Majesty King Michael Bloomberg issued a decree stating that as a benevolent despot, he would “allow” his Manhattan subjects to occupy Wall Street (as if the mayor has the power to grant-or withhold-democratic rights). But then King Mike quickly sent his police force in for mass arrests, standing down only after a wave of outrage from the larger serfdom watching on television.

Alexander Cockburn: Welcome to Our Banana Republic and Its Global Panopticon

The day I became a citizen of these United States, June 17, 2009, in the old Paramount Theater in downtown Oakland, I raised my right hand and swore that I “absolutely and entirely renounce and abjure all allegiance and fidelity to any foreign prince, potentate, state or sovereignty, of whom or which I have heretofore been a subject or citizen; that I will support and defend the Constitution and laws of the United States of America against all enemies, foreign and domestic.”

[]

The sovereignty I was abjuring was the Republic of Ireland, itself not so far from shifting its allegiance from the Irish Constitution to the dictates of European bankers. Since questions about the Bill of Rights were likely to come up in those final interviews, many people in the theater had a pretty clear notion that along with allegiance came certain important protections, such as guarantees of due process and the right to a public trial by jury. There’s no doubt that for many, with vivid memories of summary seizure and arbitrary imprisonment in their biographies, these guarantees had great significance.

But as it turns out, it was all a fraud. The Uzbek down the row from me, who had fled Karimov’s regime, probably had no need to anticipate being boiled alive — a specialite de la maison in Tashkent. But being roasted alive by a Hellfire missile, doomed by the executive order of President Obama, without due process in any court of law, for reasons of state forever secret, could theoretically lie in his future. If presidential death warrants beyond the reach of scrutiny and review by courts or juries are the mark of a banana republic, then we were all waving the flag of just such an entity.

Matthew Rothschild: Qaddafi’s Death: Barbarism and Hypocrisy

I never mourn the death of a dictator.

Good riddance to Muammar Qaddafi, who terrorized his people for 42 years.

But neither do I cheer summary executions of anyone, no matter how brutal.

Just as the United States was wrong to rub out an unarmed Osama bin Laden, so, too, the Libyan rebels were wrong to murder the captured Qaddafi.

You can see the rebels parading Qaddafi around still alive.

You can see them bouncing his head up and down after he’s apparently dead.

The answer to barbarism is not more barbarism.

Amnesty International is right to ask for an investigation into Qaddafi’s death.

Nor do I applaud President Obama’s triumphalism.

Eugene Robinson: At a Loss for a World View

The demise of Moammar Gadhafi is big news around the world. Note to the Republican presidential candidates: This will come as a shock, but there are lots of other countries out there, and what happens in some of them is really important. Anyone who wants to serve as commander in chief should be paying attention.

This advice is aimed most urgently at Herman Cain, who wears his ignorance of international affairs as a badge of honor. “When they ask me who is the president of Uzbeki-beki-beki-beki-stan-stan, I’m going to say, you know, I don’t know,” he boasted recently. “And then I’m going to say, ‘How’s that going to create one job?'” For the record, Uzbekistan is a strategically important Central Asian nation whose president is named Islam Karimov.

Occupy Wall St. Livestream: Day 36

Watch live streaming video from globalrevolution at livestream.com

OccupyWallStreet

The resistance continues at Liberty Square, with free pizza 😉

“I don’t know how to fix this but I know it’s wrong.” ~ Unknown Author

Occupy Wall Street NYC now has a web site for its General Assembly  with up dates and information. Very informative and user friendly. It has information about events, a bulletin board, groups and minutes of the GA meetings.

NYC General Assembly #OccupyWallStreet

Photobucket

If you have to ask , you haven’t been listening

How to become Fox News public enemy No. 1

Cenk Uygur and “The Young Turks” are at Occupy Wall Street in New York City all week.

In this interview, writer Jesse LaGreca tells Cenk about becoming Fox News public enemy No. 1 after he called out a producer’s biased questions in a clip that made it online, if left on the cutting room floor.

Cornel West arrested as OWS spreads to Harlem

by Justin Elliot

A campaign against arbitrary searches by the NYPD gets a boost from Occupy Wall Street

Occupy Wall Street headed to Harlem Friday afternoon in a solidarity march that ended with the arrests of a few dozen protesters including Princeton professor Cornel West – just days after his arrest in Washington, D.C., at another demonstration.

The arrests, which occurred after marchers linked arms in front of a fortress-like NYPD station just off Frederick Douglass Boulevard, were a planned act of civil disobedience.

[]

Finally, here is West’s speech just a few minutes before he and other protesters were arrested:

Bloomberg Says City Will Enforce Laws Requiring Permits

From Kevin Gosztola at FDL

The New York Post reported there will be more arrests of Occupy Wall Street participants, who do not abide by New York City laws for demonstrations. Bloomberg also warned that a crackdown was coming.

The Post quoted the Occupy Wall Street media coordinator Thorin Caristo, who stated:

  “His inability to create a clear and definitive opinion or position on OWS just shows he’s being tossed around like a bird in a storm. We all know what that storm is, that storm is the growing concern in the higher factions of Wall Street, that this movement might actually be making a difference…The mayor’s statements sound hardline and I have no doubt he may actually try to enforce those. But we all know that every time excessive police force is used in this situation the movement grows exponentially.”

The city should not take this point lightly. Use of excessive police force or any effort to disperse the encampment will only invigorate the occupation with renewed support. It will only lead to more marches and gatherings that the police will be deployed to babysit. It will only amplify scrutiny of New York City and its police force by the media and the people of the world.

On This Day In History October 22

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.

October 22 is the 295th day of the year (296th in leap years) in the Gregorian calendar. There are 70 days remaining until the end of the year.

On this day in 1975,Air Force Sergeant Leonard Matlovich, a decorated veteran of the Vietnam War, is given a “general” discharge by the air force after publicly declaring his homosexuality. Matlovich, who appeared in his air force uniform on the cover of Time magazine above the headline “I AM A HOMOSEXUAL,” was challenging the ban against homosexuals in the U.S. military. In 1979, after winning a much-publicized case against the air force, his discharge was upgraded to “honorable.”

Technical Sergeant Leonard Matlovich (1943 – June 22, 1988) was a Vietnam War veteran, race relations instructor, and recipient of the Purple Heart and the Bronze Star.

Matlovich was the first gay service member to fight the ban on gays in the military, and perhaps the best-known gay man in America in the 1970s next to Harvey Milk. His fight to stay in the United States Air Force after coming out of the closet became a cause celebre around which the gay community rallied. His case resulted in articles in newspapers and magazines throughout the country, numerous television interviews, and a television movie on NBC. His photograph appeared on the cover of the September 8, 1975, issue of Time magazine, making him a symbol for thousands of gay and lesbian servicemembers and gay people generally. In October 2006, Matlovich was honored by LGBT History Month as a leader in the history of the LGBT community.

Born in Savannah, Georgia, he was the only son of a career Air Force sergeant. He spent his childhood living on military bases, primarily throughout the southern United States. Matlovich and his sister were raised in the Roman Catholic Church. He considered himself a “flag-waving patriot,” but always regretted that for several years he maintained the racist attitudes he’d been exposed to as a child of the South. Not long after he enlisted, the United States increased military action in Vietnam, about ten years after the French had abandoned active colonial rule there. Matlovich volunteered for service in Vietnam and served three tours of duty. He was seriously wounded when he stepped on a land mine in DA Nang.

While stationed in Florida near Fort Walton Beach, he began frequenting gay bars in nearby Pensacola. “I met a bank president, a gas station attendant – they were all homosexual,” Matlovich commented in a later interview. When he was 30, he slept with another man for the first time. He “came out” to his friends, but continued to conceal the fact from his commanding officer. Having realized that the racism he’d grown up around was wrong, he volunteered to teach Air Force Race Relations classes, which had been created after several racial incidents in the military in the late 1960s and early 1970s. He became so successful that the Air Force sent him around the country to coach other instructors. Matlovich gradually came to believe that the discrimination faced by gays was similar to that faced by African Americans.

In 1973, previously unaware of the organized gay movement, he read an interview in the Air Force Times with gay activist Frank Kameny who had counseled several gays in the military over the years. He called Kameny in Washington DC and learned that Kameny had long been looking for a gay service member with a perfect record to create a test case to challenge the military’s ban on gays. About a year later, he called Kameny again, telling him that he might be the person. After several months of discussion with Kameny and ACLU attorney David Addlestone during which they formulated a plan, he hand-delivered a letter to his Langley AFB commanding officer on March 6, 1975. When his commander asked, “What does this mean?” Matlovich replied, “It means Brown versus the Board of Education” – a reference to the 1954 landmark Supreme Court case outlawing racial segregation in public schools. For Matlovich, his test of the military’s ban on homosexuals would be equivalent to that case. . .

From the moment his case was revealed to the public, he was repeatedly called upon by gay groups to help them with fund raising and advocating against anti-gay discrimination, helping lead campaigns against Anita Bryant’s effort in Miami, Florida, to overturn a gay nondiscrimination ordinance and John Briggs’ attempt to ban gay teachers in California. Sometimes he was criticized by individuals more to the left than he had become. “I think many gays are forced into liberal camps only because that’s where they can find the kind of support they need to function in society” Matlovich once noted.

With the outbreak of HIV/AIDS in the U.S. in the late 1970s, Leonard’s personal life was caught up in the virus’ hysteria that peaked in the 1980s. He sold his Guerneville restaurant in 1984, moving to Europe for a few months. He returned briefly to Washington, D.C., in 1985 and, then, to San Francisco where he sold Ford cars and once again became heavily involved in gay rights causes and the fight for adequate HIV-AIDS education and treatment.

During the summer of 1986, Matlovich felt fatigued, then contracted a prolonged chest cold he seemed unable to shake. When he finally saw a physician in September of that year, he was diagnosed with HIV/AIDS. Too weak to continue his work at the Ford dealership, he was among the first to receive AZT treatments, but his prognosis was not encouraging. He went on disability and became a champion for HIV/AIDS research for the disease which was claiming tens of thousands of lives in the Bay Area and nationally. He announced on Good Morning America in 1987 that he had contracted HIV, and was arrested with other demonstrators in front of the White House that June protesting what they believed was an inadequate response to HIV-AIDS by the administration of President Ronald Reagan.

On June 22, 1988, less than a month before his 45th birthday, Matlovich died of complications from HIV/AIDS beneath a large photo of Martin Luther King, Jr. His tombstone, meant to be a memorial to all gay veterans, does not bear his name. It reads, “When I was in the military, they gave me a medal for killing two men and a discharge for loving one.” Matlovich’s tombstone at Congressional Cemetery is on the same row as that of FBI Director J. Edgar Hoover.

A Website has been created in his honor and that of other gay veterans, and includes a history of the ban on gays in the military both before and after its transformation into Don’t Ask, Don’t Tell, and illustrates the role that gay veterans fighting the ban played in the earliest development of the gay rights movement in the United States.

DADT was officially ended on September 20, 2011. We still have a long way to go with equal right for our gay and transsexual brothers and sisters.

Playing for Profits

After Bank of America was downgraded by the ratings agencies and over the objections of the FDIC but with Federal Reserve Chairman Ben Bernanke’s blessing, the Bank of America transferred millions of dollars of its worst derivatives to its Merill Lynch unit where they would be insured:

The Federal Reserve and Federal Deposit Insurance Corp. disagree over the transfers, which are being requested by counterparties, said the people, who asked to remain anonymous because they weren’t authorized to speak publicly. The Fed has signaled that it favors moving the derivatives to give relief to the bank holding company, while the FDIC, which would have to pay off depositors in the event of a bank failure, is objecting, said the people. The bank doesn’t believe regulatory approval is needed, said people with knowledge of its position.

Three years after taxpayers rescued some of the biggest U.S. lenders, regulators are grappling with how to protect FDIC- insured bank accounts from risks generated by investment-banking operations. Bank of America, which got a $45 billion bailout during the financial crisis, had $1.04 trillion in deposits as of midyear, ranking it second among U.S. firms.

“The concern is that there is always an enormous temptation to dump the losers on the insured institution,” said William Black, professor of economics and law at the University of Missouri-Kansas City and a former bank regulator. “We should have fairly tight restrictions on that.”

So why is the FDIC concerned and the Federal Reserve giving its blessing? masaccio at FDL explains:

Of course, the Fed loves it. Bank holding companies can do no wrong as far as the Fed is concerned. The risk to taxpayers, and the moral hazard issues are utterly irrelevant to Ben Bernanke and his buddies. Of course, given the vast conflicts of interest at the Fed, this isn’t a surprise.

There are reasons to be worried about this. First, BAC moved the derivatives at the request of counterparties. The counterparties have a right under their derivative contracts to demand collateral from BAC, as they did after the company’s rating was reduced earlier this year. BAC estimates that would require an additional $3.3 billion in collateral. The downgrade was due to judgment by the ratings agencies that the government was less likely to bail out BAC if it got into trouble. Thus, the effect of the downgrade was to increase the direct risk to the FDIC, by forcing it in effect to guarantee the derivatives of Merrill Lynch. Nice opinion, ratings agencies. I wonder who paid them for it?

Second, if the FDIC has to liquidate BAC, it will have to borrow from the Treasury to pay depositors, and it will have to bill the largest banks for additional fees to pay off the Treasury loans to the extent of actual losses. We have no idea of the interlocking relations of these giants, so we have no idea whether the collapse of one would wreck others. Media reports say there are concerns about the relationships between European banks and US banks, so there is reason for concern about the relations among US giants. If one collapse could lead to others, where is the money coming from to repay the Treasury? []

Third, 82% of derivatives in notional amount are interest rate swaps. Interest rates are at historic lows. What happens when they go back up to normal levels? []

Fourth, BAC has a huge position in credit default swaps, with a notional value of $4.1 trillion. . . . . as we saw with AIG, when CDSs go sour, the counterparty has the right to demand collateral right up to the moment the entity fails. In this case, that collateral would be cash, and it would directly reduce the amount of cash in the Bank. That would be a disaster for the FDIC, which would have to pay off the depositor losses up to the insured limit.

As Yves Smith explains this has an air of criminal incompetence with the tax payers having to foot the bill in the end:

This move reflects either criminal incompetence or abject corruption by the Fed. Even though I’ve expressed my doubts as to whether Dodd Frank resolutions will work, dumping derivatives into depositaries pretty much guarantees a Dodd Frank resolution will fail. Remember the effect of the 2005 bankruptcy law revisions: derivatives counterparties are first in line, they get to grab assets first and leave everyone else to scramble for crumbs. So this move amounts to a direct transfer from derivatives counterparties of Merrill to the taxpayer, via the FDIC, which would have to make depositors whole after derivatives counterparties grabbed collateral. It’s well nigh impossible to have an orderly wind down in this scenario. You have a derivatives counterparty land grab and an abrupt insolvency. Lehman failed over a weekend after JP Morgan grabbed collateral.

But it’s even worse than that. During the savings & loan crisis, the FDIC did not have enough in deposit insurance receipts to pay for the Resolution Trust Corporation wind-down vehicle. It had to get more funding from Congress. This move paves the way for another TARP-style shakedown of taxpayers, this time to save depositors. No Congressman would dare vote against that. This move is Machiavellian, and just plain evil.

It is well past time to do something about regulation and oversight of the Federal Reserve.

Load more