Due to playing in the mud (don’t ask, trust me it’s messy), the Evening Edition will brought to you by c’est moi.

French banks agree to Greek debt rollover

ATHENS/PARIS (Reuters) – France offered a radical solution Monday for banks to roll over some Greek debt for 30 years as the Greek government fought for political support of its five-year austerity plan to avert bankruptcy.

With depositors fleeing Greek banks in growing numbers and financial markets watching anxiously, President Nicolas Sarkozy told a news conference in Paris that French banks had reached a draft agreement with the authorities on a voluntary rollover of maturing bonds.

Consumer spending breaks 10-month rising streak

WASHINGTON (Reuters) – U.S. consumer spending failed to rise in May, breaking 10 straight months of gains, as households struggled with rising prices and automakers could not deliver some popular models due to fallout from Japan’s earthquake.

When adjusted for inflation, spending slipped 0.1 percent, the Commerce Department said on Monday. It was the second consecutive monthly drop on that basis.

Once again the corporate owned, conservative Supreme Court has struck down the 1998 Arizona Campaign Finance Law provided escalating matching funds to candidates who accept public financing. How the Roberts’ court decided that law violates the First Amendment rights of these corporation is truly a backbreaking twist if logic and the constitution.

The vote was again 5-to-4, with the same five justices in the majority as in the Citizens United decision. The majority’s rationale was that the law violated the First Amendment rights of candidates who raise private money. Such candidates, the majority said, may be reluctant to spend money to speak if they know that it will give rise to counter-speech paid for by the government.

“Laws like Arizona’s matching funds provision that inhibit robust and wide-open political debate without sufficient justification cannot stand,” Chief Justice John G. Roberts Jr. wrote for the majority. Justice Antonin Scalia, Anthony M. Kennedy, Clarence Thomas and Samuel A. Alito Jr. joined the majority opinion.

What about the under funded candidate’s right to be heard under the First amendment? The reason for the law, which  was written after a corruption scandals rocked the state’s election financing during the 90’s, was to foster free speech:

The idea was to encourage candidates to forgo the scramble for money, with all its inherent invitations to corruption — to spend more time speaking to the electorate, and less time speaking to potential funders.

In that sense, its goal was very much to increase genuine political speech. But to the Roberts court, money as speech takes precedence over speech as speech.

The court’s majority clearly telegraphed its antipathy to the Arizona provision during oral arguments in March. The only real suspense was whether they would go further, and use the case to cast doubt on public financing generally.

So there was a sense of relief in the good-government community Monday.

“This is not the death knell of public financing. This ruling affects only one mechanism of public financing, and there are numerous ways to fix it,” said Common Cause president Bob Edgar in a statement. “Today, in the wake of Citizens United, it is more critical than ever that we change the way we pay for our elections by moving to a small donor system that gives the public a voice back in our government. Nothing short of our democracy is at stake.”

Well, thank these corporate shill justice for that.

The dissent written by Justice Elena Kagan, which was joined by Justices Ruth Bader Ginsburg, Stephen G. Breyer and Sonia Sotomayor, said that the Arizona law protected the First Amendment by promoting more speech and less corruption. It is not just a scorching criticism of the majority but an indictment of their own corruption:

Justice Elena Kagan on Monday began her blistering minority dissent with a morality play comparing two states. One of them limits itself to what is essentially current federal campaign finance law — and “remains afflicted with corruption.” The other tries to create a robust public-financing regime — and rids itself of corruption. The majority, Kagan writes, has taken the side of corruption.:

A person familiar with our country’s core values — our devotion to democratic self-governance, as well as to “uninhibited, robust, and wide-open” debate, New York Times Co. v. Sullivan, 376 U. S. 254, 270 (1964) — might expect this Court to celebrate, or at least not to interfere with, the second State’s success. But today, the majority holds that the second State’s system — the system that produces honest government, working on behalf of all the people — clashes with our Constitution. The First Amendment, the majority insists, requires us all to rely on the measures employed in the first State, even when they have failed to break the stranglehold of special interests on elected officials.

I disagree. The First Amendment’s core purpose is to foster a healthy, vibrant political system full of robust discussion and debate. Nothing in Arizona’s anticorruption statute, the Arizona Citizens Clean Elections Act, violates this constitutional protection. To the contrary, the Act promotes the values underlying both the First Amendment and our entire Constitution by enhancing the “opportunity for free political discussion to the end that government may be responsive to the will of the people.” I therefore respectfully dissent.

After the recent rulings that have sided with corporations this ruling comes as no surprise.

h/t to David Dayen for further reading on this decision at The Brennan Center for Justice

Due to playing in the mud (don’t ask, trust me it’s messy), the Monday Business Edition will brought to you by c’est moi.

Consumer spending set to restrain second-quarter growth

(Reuters) – Consumer spending was flat in May, breaking a string of 10 straight months of gains, as households struggled with rising prices and automakers failed to deliver the models Americans wanted.

When adjusted for inflation, spending slipped 0.1 percent, the Commerce Department said on Monday, falling for a second straight month.

Los Angeles Dodgers file for bankruptcy

(Reuters) – The Los Angeles Dodgers filed for bankruptcy protection, blaming Major League Baseball Commissioner Bud Selig for rejecting a television deal that would have given the financially strapped baseball team a quick injection of cash.

Monday’s filing marks a dramatic attempt by Dodgers owner Frank McCourt to keep the league from seizing the storied team, which he has owned since 2004.

“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”.

Robert Reich: Why the Republican War on Workers Rights Undermines the American Economy

The battle has resumed in Wisconsin. The state supreme court has allowed Governor Scott Walker to strip bargaining rights from state workers. . . . .

This war on workers’ rights is an assault on the middle class, and it is undermining the American economy.

The American economy can’t get out of neutral until American workers have more money in their pockets to buy what they produce. And unions are the best way to give them the bargaining power to get better pay.

Robert Dreyfuss: Reality Check: Budget Cuts Inevitable at the Department of Defense

There’s an inevitability to the coming decline of U.S. power and influence worldwide, as the American economy shrinks relative to the economic power of other countries, as America’s allies in places like Egypt strike out on their own, and as the size of the US military declines because the United States can no longer afford to spend upwards of $700 billion on defense.

Still, there are those who believe that the United States must maintain, and even increase its spending at the Pentagon, even as more and more Republicans are prepared to throw the military under the bus to save money. Take, for instance, Fred Hiatt of the Washington Post, who pens an op-ed in today’s paper entitled: “What’s happened to America’s leadership role?” Hiatt, a reliable hawk who’s helped steer the Post into indefensibly pro-defense positions, including support for the wars in Afghanistan and Libya, accuses President Obama of surrendering the US leadership role by refusing to take the lead in battling Libya’s Muammar Qaddafi and by backing a modest drawdown in Afghanistan:

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.

Click on images to enlarge.

June 27 is the 178th day of the year (179th in leap years) in the Gregorian calendar. There are 187 days remaining until the end of the year.

On this day in 1950, Truman orders U.S. forces to Korea.

On June 27, 1950, President Harry S. Truman announces that he is ordering U.S. air and naval forces to South Korea to aid the democratic nation in repulsing an invasion by communist North Korea. The United States was undertaking the major military operation, he explained, to enforce a United Nations resolution calling for an end to hostilities, and to stem the spread of communism in Asia. In addition to ordering U.S. forces to Korea, Truman also deployed the U.S. 7th Fleet to Formosa (Taiwan) to guard against invasion by communist China and ordered an acceleration of military aid to French forces fighting communist guerrillas in Vietnam.

Factors in US intervention

The Truman Administration was caught at a crossroads. Before the invasion, Korea was not included in the strategic Asian Defense Perimeter outlined by Secretary of State Acheson. Military strategists were more concerned with the security of Europe against the Soviet Union than East Asia. At the same time, the Administration was worried that a war in Korea could quickly widen into another world war should the Chinese or Soviets decide to get involved as well.

One facet of the changing attitude toward Korea and whether to get involved was Japan. Especially after the fall of China to the Communists, “…Japan itself increasingly appeared as the major East Asian prize to be protected”. US East Asian experts saw Japan as the critical counterweight to the Soviet Union and China in the region. While there was no United States policy that dealt with South Korea directly as a national interest, its proximity to Japan pushed South Korea to the fore. “The recognition that the security of Japan required a non-hostile Korea led directly to President Truman’s decision to intervene… The essential point… is that the American response to the North Korean attack stemmed from considerations of US policy toward Japan.” The United States wanted to shore up Japan to make it a viable counterweight against the Soviet Union and China, and Korea was seen as integral to that end.

The other important part of committing to intervention lay in speculation about Soviet action in the event that the United States intervene. The Truman administration was fretful that a war in Korea was a diversionary assault that would escalate to a general war in Europe once the US committed in Korea. At the same time, “[t]here was no suggestion from anyone that the United Nations or the United States could back away from (the conflict)”. In Truman’s mind, this aggression, if left unchecked, would start a chain reaction that would destroy the United Nations and give the go ahead to further Communist aggression elsewhere. Korea was where a stand had to be made, the difficult part was how. The UN Security council approved the use of force to help the South Koreans and the US immediately began using air and naval forces in the area to that end. The Administration still refrained from committing on the ground because some advisors believed the North Koreans could be stopped by air and naval power alone. Also, it was still uncertain if this was a clever ploy by the Soviet Union to catch the US unawares or just a test of US resolve. The decision to commit ground troops and to intervene eventually became viable when a communiqué was received on June 27 from the Soviet Union that alluded it would not move against US forces in Korea. “This opened the way for the sending of American ground forces, for it now seemed less likely that a general war-with Korea as a preliminary diversion-was imminent”. With the Soviet Union’s tacit agreement that this would not cause an escalation, the United States now could intervene with confidence that other commitments would not be jeopardized.

Due to playing in the mud (don’t ask, trust me it’s messy), the Evening Edition will brought to you by c’est moi.

Greek rebel lawmakers may block austerity: deputy PM

ATHENS (Reuters) – Greece’s deputy prime minister warned on Sunday that rebel lawmakers may block some reforms sought by international lenders, though parliament will probably back an overall austerity package this week to avert national bankruptcy.

Adding to Socialist Prime Minister George Papandreou’s dire problems, the conservative opposition rejected appeals from the government and senior European Union politicians to vote in favor of the five-year plan.

Republicans firm on taxes ahead of Obama meeting

WASHINGTON (Reuters) – The Senate’s top two Republicans on Sunday stood firm against including tax increases in any deal to raise the debt limit and shrink budget deficits one day before a meeting with President Barack Obama, but said the showdown need not go down to the “11th hour.”

Obama is to meet separately with Senate Democratic and Republican leaders on Monday to try to revive negotiations that collapsed on Thursday when Republicans walked out over Democrats’ demands for tax increases.

Jon Huntsman announces his presidential candidacy, and Stephen finds the perfect generic Republican presidential candidate.

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.

Click on images to enlarge.

June 26 is the 177th day of the year (178th in leap years) in the Gregorian calendar. There are 188 days remaining until the end of the year.

On this day in 1959, St. Lawrence Seaway opened.

In a ceremony presided over by U.S. President Dwight D. Eisenhower and Queen Elizabeth II, the St. Lawrence Seaway is officially opened, creating a navigational channel from the Atlantic Ocean to all the Great Lakes. The seaway, made up of a system of canals, locks, and dredged waterways, extends a distance of nearly 2,500 miles, from the Atlantic Ocean through the Gulf of St. Lawrence to Duluth, Minnesota, on Lake Superior.

History

The Saint Lawrence Seaway was preceded by a number of other canals. In 1871, locks on the Saint Lawrence allowed transit of vessels 186 ft (57 m) long, 44 ft 6 in (13.56 m) wide, and 9 ft (2.7 m) deep. The Welland Canal at that time allowed transit of vessels 142 ft (43 m) long, 26 ft (7.9 m) wide, and 10 ft (3.0 m) deep, but was generally too small to allow passage of larger ocean-going ships.

The first proposals for a binational comprehensive deep waterway along the St. Lawrence came in the 1890s. In the following decades the idea of a power project became inseparable from the seaway – in fact, the various governments involved believed that the deeper water created by the hydro project were necessary to make the seaway channels feasible. American proposals for development up to and including the First World War met with little interest from the Canadian federal government. But the two national government submitted St. Lawrence plans, and the Wooten-Bowden Report and the International Joint Commission both recommended the project in the early 1920s. Although the Liberal Mackenzkie King was reluctant to proceed, in part of because of opposition to the project in Quebec, in 1932 the two countries inked a treaty. This failed to receive the assent of Congress. Subsequent attempts to forge an agreement in the 1930s came to naught as the Ontario government of Mitchell Hepburn, along with Quebec, got in the way. By 1941, President Roosevelt and Prime Minister King made an executive agreement to build the joint hydro and navigation works, but this too failed to receive the assent of Congress. Proposals for the seaway were met with resistance from railway and port lobbyists in the United States.

In the post-1945 years, proposals to introduce tolls still could not induce the U.S. Congress to approve the project. Growing impatient, and with Ontario desperate for hydro-electricity, Canada began to consider “going it alone.” This seized the imagination of Canadians, engendering a groundswell of St. Lawrence nationalism. Fueled by this support, the Canadian Louis St. Laurent government decided over the course of 1951 and 1952 to construct the waterway alone, combined with a hydro project (which would prove to be the joint responsibility of Ontario and New York – as a power dam would change the water levels, it required bilateral cooperation). However, the Truman and Eisenhower administrations considered it a national security threat for Canada to alone control the deep waterway, and used various means – such as delaying and stalling the Federal Power Commission license for the power aspect – until Congress in early 1954 approved an American seaway role via the Wiley act. Canada, out of concern for the ramifications of the bilateral relationship, reluctantly acquiesced.

In the United States, Dr. N.R. Danelian (who was the Director of the 13 volume St. Lawrence Seaway Survey in the U.S. Department of Navigation (1932-1963)), worked with the U.S. Secretary of State on Canadian-United States issues regarding the Seaway and worked for over 15 years on passage of the Seaway Act. He later became President of the Great Lakes St. Lawrence Association to further the interests of the Seaway development to benefit the American Heartland.

The seaway opened in 1959 and cost $638 million in Canadian dollars, $336.2 million of which was paid by the U.S. government.[1] Queen Elizabeth II and President Dwight D. Eisenhower formally opened the Seaway with a short cruise aboard Royal Yacht Britannia after addressing the crowds in St. Lambert, Quebec.

The seaway’s opening is often credited with making the Erie Canal obsolete, thus setting off the severe economic decline of several cities in Upstate New York.

During his confirmation hearings to replace Leon Panetta as CIA director, General David Petraeus, the Nato commander in Afghanistan, told Senate Intelligence Committee that:

(Sen. Mark) Udall was clearly trying to get Petraeus to reiterate his opposition to torture – he read back several quotes Petraeus himself had given saying such techniques are immoral and when they’ve been used, they’ve “turned around and bitten us in the backside.” Udall asked, “do you see torture any differently in a CIA context than in a military context?”

But Petraeus instead pivoted to the TV-ready “ticking time bomb” scenario, and said torture might be justified if you have a “special situation” where an “individual in your hands who you know has placed a nuclear device under the Empire State Building. It goes off in 30 minutes, he has the codes to turn it off.” Then he urged legislators to consider crafting such an exception into the law:

I think that is a special case. I think there should be discussion of that by policymakers and by Congress. I think that it should be thought out ahead of time. There should be a process if indeed there is going to be something more than, again, the normal techniques employed in such a case. And again, I — I would certainly submit that that would be very helpful if that kind of debate could be held and if some resolution could be made as to what should be done in a case like that so that it is worked out ahead of time, rather than under an extraordinary sense of pressure in such a situation.

Torture is not a value that Americans have died for and it is beyond being stupid, it is illegal.

“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”.

The Sunday Talking Heads:

This Week with Christiane Amanpour: This week’s guest are Senate Minority Leader Mitch McConnell (R-KY) and House Assistant Minority Leader James Clyburn (D-SC).

On the roundtable George Will, former White House communications director Anita Dunn, Thomson Reuters’ Chrystia Freeland and ABC’s senior political correspondent Jonathan Karl discuss the debt limit. A second roundtable will examine the Afghan withdrawal wit George Will, ABC News’ senior foreign affairs correspondent Martha Raddatz and professor of international politics at Tufts University Vali Nasr.

Face the Nation with Bob Schieffer:Mr. Schieffer’s guest will be Rep. Michele Bachmann (R-MN).

The Chris Matthews Show: This Week’s Guests Norah O’Donnell, David Ignatius, The Washington Post Columnist, Michael Duffy, TIME Magazine Assistant Managing Editor and Helene Cooper The New York Times White House Correspondent who will discuss the Afghan withdrawal and the dilemma for the Tea Party if either Romney or Huntsman is nominated.

Meet the Press with David Gregory: Gusets are New Jersey Gov. Chris Christie, Armed Services Committee members Sen. Jack Reed (D-RI) and Sen. Jim Webb (D-VA).

Roundtable: Decision 2012 and more with the BBC’s Katty Kay, The NYT’s Matt Bai and David Brooks

State of the Union with Candy Crowley: Guests are Rep. Mike Rogers, the chairman of the House Intelligence Committee, House Minority Leader Nancy Pelosi, conservative Sen. Jim DeMint, Bill Burton, former deputy press secretary for President Obama, and Michael Gerson, former speechwriter for President George W. Bush..

Fareed Zakaris: GPS: A world-wide exclusive with Afghan President Hamid Karzai, PIMCO’s CEO Mohamed El-Erian and CNN senior legal analyst Jeffrey Toobin.

Now you can all go back to bed or celebrate Gay Marriage in New York