F1: Suzuka Qualifying

Well, it’s no secret I think Webber should have been black flagged at Singapore.  I haven’t seen a clearer violation since Piquet drove into the wall.  Even the talking heads are having a hard time excusing it.

McLaren has a bunch of fiddly new aero bits that kept Hamilton off the track during much of practice (well, and parking it so they all had to be replaced).  Even with only 3 races left (they’re highly uncertain about Korea) Lew has a chance to get back into it being a mere 20 points behind and all.  All you fucking Ferrari fanatics talking about Alonso’s 50 point surge should remember it only took 2 races to do. so shut your chain smoking Marlboro UPC yaps you losers.

Suzuka is considered a high downforce track so grip will be critical.  Qualifying will be replayed on Speed starting with Formula One Debrief (which I’m watching right now) at 11 pm and the race at 1 am, followed by the debrief again at 4 am and a race repeat at 2:30 pm Saturday.

If I seem a little crankier than usual it’s the lack of sleep.

The Little Noticed Crisis: Bank Failures

(2 pm. – promoted by ek hornbeck)

Usually on Fridays, Atrios at Eschaton posts the lists of banks that have been taken into receivership by the FDIC.

Now the FDIC is going to hold the bank executives of these failed entities to count to the tune of one billion dollars. According to Bloomberg

The potential lawsuits would help the FDIC recover more than $1 billion it lost during the credit crisis, which has forced the FDIC to take over 294 lenders since 2008. So far the FDIC, which, according to Bloomberg, doesn’t sue unless it believes the defendant is able to pay up, has only filed one lawsuit related to the credit crisis, against IndyMac executives in July.

FDIC May Seek More Than $1 Billion From Failed-Bank Executives

The Federal Deposit Insurance Corp. has authorized lawsuits against more than 50 officers and directors of failed banks as the agency aims to recoup more than $1 billion in losses stemming from the credit crisis.

The lawsuits were authorized during closed sessions of the FDIC board and haven’t been made public. The agency, which has shuttered 294 lenders since the start of 2008, has held off court action while conducting settlement talks with executives whose actions may have led to bank collapses, Richard Osterman, the FDIC’s acting general counsel, said in an interview.

“We’re ready to go,” Osterman said. “We could walk into court tomorrow and file the lawsuits.”

The FDIC, which reviews losses for every bank failure, has brought only one case against officers or directors tied to recent collapses — a suit filed in July seeking $300 million in damages from four executives of IndyMac Bancorp Inc.

When a bank fails, the agency’s investigators take about 18 months to complete their autopsies, meaning most of the probes stemming from the financial crisis are ongoing, Osterman said.

If FDIC investigators determine litigation is possible early in their review process, they send letters to officers and directors alerting them that a suit may be coming to recoup a portion of the losses to the agency’s insurance fund.

FDIC Chairman Sheila Bair has said 2010 will be the peak year for failures, and the agency’s list of so-called problem lenders suggests banks will keep collapsing at an accelerated rate in coming months. The confidential list had 829 banks with $403 billion in assets at the end of the second quarter.

Unbelievable that anyone thinks that TARP was a success. If the FDIC can recover that one billion it will be only .05% of what was actually given the the banks and the financial industry by the Treasury and the Federal Reserve which may have been upwards of 2 TRILLION DOLLARS.  

Popular Culture 20101008: Telephone Billing Scams (Updated)

This covers a topic about which I wrote earlier this week, but is expanded and completely revised, and includes actions that you can take if you find yourself in this situation.  I know that this will not be as well received as the installment last week, but this is an important topic, (although not a popular one), and is part of our culture at present.  I am talking about telephone billing scams, often called cramming, and they are common.

This incident is from personal experience, and recent at that.  Cramming is the addition of charges on one’s residential or wireless telephone bills that were not authorized by the owner of the account, or the addition of charges that were unwittingly authorized by the owner of the account.  In my case, it was the former, twice.

Cramming is possible because the Federal Communications Commission (FCC) still allows third party billing to private telephone numbers.  The Federal Trade Commission (FTC) also has some responsibility in this area.  When cramming occurs, some third party which has access to your telephone number (and if you are not unlisted, EVERYONE has access to it) bills you for some sort of service (usually) or good (not as often).  Several companies are notorious for it.  I am going to name names, and if they want to sue me, fine.  I speak the truth and besides, there is  not much blood in this particular turnip.

Another thing that promotes cramming is that most people do not look at their telephone bills very closely.  This is just human nature, but someone that I know has eyes like a hawk.  She noticed that she was getting a $14.99 per month charge from an outfit called ILD Teleservices, with no explanation as to what it included.  She called them and they told her that I had used her telephone number to subscribe some sort of a music download service.  Well, I have to admit that I love good music, but the most modern technology that I own is a CD player for music, other than this computer, and I go only to free services like UTube to look for music videos (the next installment of this series for a particular song by The Who uses that site).  The ILD representative finally told her it was a ringtone download service.

That is all well and good, but the ringtone that is standard on my cellular telephone is just fine.  As long as I can hear it to answer the call, I really do not care what it sounds like.  To give the devil his due, ILD agreed to credit the charges for September and October back to her AT&T account, but that it would take a couple of billing cycles to do so.  By the way, AT&T told her that it was her problem with ILD and that they could not intervene.  She got me involved because the ILD representative indicated that it was my computer, out of state, that authorized the charges.  Obviously, there was no way for the representative to know that.

Well, I did not authorize any such charge.  The Geek in me makes me rather cautious about where I click my mouse.  So, I called ILD and talked with a representative, after quite a long hold time.  He indicated that the charges were indeed going to be credited back and that I probably had “clicked somewhere that I should not have” to authorize the charges.  After speaking with him for quite some time, he told me that the original biller was an outfit called US Music Find.  I thanked him for being so helpful and told him that my complaint should be with them and not ILD, and that I would try to contact US Music Find the next day.  He told me something that did not register consciously at the time, but I remember what he said.  He said, “Well, OK, but just be careful when you do.”

I looked up the outfit on the net and got a contact number, and called it the next day.  Of course, I went straightaway to an automated answering voice mailbox, but this one was strange.  There was the obligatory greeting, and then the list of options.  There was ONLY one option.  That option was as follows:

If you are calling about unauthorized charges to your telephone account, press “99” at the prompt.  Then enter the ten digit telephone number that is receiving unauthorized charges for full credit.

Now I knew what the ILD guy meant.  I strongly suspect that if I had entered that number again, it would only have encouraged them to continue cramming.  It is sort of like spam email, when you respond to be removed from the spam list.  All that does is confirm that they have found a valid email address.  I just hung up after that, not about to give them that telephone number again.  But you know the scientist in me.  I thrive on facts, so I started rooting around for information about those two firms.

It did not take long to find some extremely interesting information.  It turns out that ILD is a really big firm that does third party billing for LOTS of companies, some of them very shady.  As a matter of fact, ILD is pretty shady itself, having settled with at least two states and the federal government for cramming.  But it gets more interesting.  ILD is a big government contractor as well, and also provides lots of long distance calling services in places like airports and train stations.

If you have ever had a friend or relative call you collect from jail or prison, the chances are good that ILD was the intermediary in the call, and they have a HUGE markup for it.  Of course, the share their revenue with the governmental bodies that gave them the contract for providing the services, so there is absolutely no incentive on the part of the governmental agencies to keep them in check.  It is sort of like, ummmm, mutual back scratching (yeah, that’s the term) so that both ILD AND the governmental bodies get money.  Since this money is not appropriated, it can be used for many different purposes by the governmental entity.  Most folks do not realize that appropriated funds are subject to MUCH more stringent regulations and law than are nonappropriated funds.

Even the military has a distinction between AF and NAF monies.  For example, such things like the Morale, Welfare, and Recreation units in the military use NAF funds, so they have to fund themselves by running canteens, golf courses, bars, and so forth.  The monies that they receive are reinvested into more MWR activities, and this is a good thing.  Our warfighters deserve creature services at reasonable costs.  The point that I am making is that funds that are appropriated by law are subject to much more stringent standards, and they are so severe that if you happen to drive a government car paid for with appropriated funds to go to lunch, even if on base, you may be dismissed, suspended, or even brought up on criminal charges.  With a NAF vehicle, all is well.

OK, back to these cramming folks.  Not long after I started my search, I found a website that mentioned both ILD AND US Music Find.  Here is the URL for that site.  I was astonished to see the exact same case that the former we had played out, over and over, and very often involving the very US Music Find outfit.  By the way, this site was just the forth “hit” in my Dogpile (actually a very good meta search engine) search.

If you are not feeling like going to the site, there are 324 pages of complaints against ILD, with five to ten posts per page.  Conservative maths indicate that there are over 2000 complaints that folks felt important enough to post to the consumer site.  Since way fewer than 10% of people take the trouble to do that, there must be at least 20,000 complaints.

The recurring theme is that the victims usually did NOT click onto some obscure site that authorized the biller.  It is just plain identity theft.  Perhaps a few folks have done it, but I never did.  Anyway, why would I put in a telephone number that I no longer owned?  The guy from ILD put a little light on that, and said that their customers often look for valid telephone numbers and just randomly start charging them because the folks being billed often do not look very closely at their telephone bills, since they are often complicated.

They did not count on my associate, with the eyes of a hawk and the soul of social worker.  She found the bogus charge, and now I am publicizing it.  Again, to be fair, ILD agreed to credit the charges for the past two months, but they usually do not credit ones that are very old.  Thus, you have to have the same hawk eyes that she has.  Until better federal statutes are passed to ban cramming, you have to watch out for yourself.  Here are my suggestions.

1)  Examine ALL of your bills carefully.  It will take a minute longer, but it is important.  These thugs seem to be targeting telephone bills mostly, so concentrate on them.  This is because of the third party billing that is allowed for telephone companies.  I would be surprised if such a charge showed up on your electric bill, but that does not mean that your electric company can not make a mistake and overcharge you.  Just look at your bills carefully.

2)  If you find something that you do not understand, call your service provider and ask for an explanation.  If they can not explain it, ask for a supervisor.

3)  As I understand, and please the legal types out there correct me if I am incorrect, your local provider can not do much to reverse the charges, and you will be late or deficient with your payment if you do not pay in full.  My understanding is that there are few if any consumer protections on telephone bills, so be prepared to wait for months to get back your money.

4)  Get aggressive with that third party billing outfit.  From my experience, they will cave fast if you have a good recollection about what you did online insofar as signing up for bogus services.  Your internet history files might be useful, so not delete them.

5)  If the third party biller is not cooperative, threaten both the third party billing outfit AND the the company who submitted the bill to the third party billing outfit to go to the Attorney General in your state.  Also, if your telephone bill has calls outside of your state, threaten them with the Federal Communication Commission.

6)  Just keep going.  They will finally credit your account.  NEVER accept anything less, because they will still be making money off of you illegally and consider you an easy mark.

7)  Please report your experiences here.  I have a personal goal to see that these kinds of unethical companies mend their ways or be prosecuted.

Well, this is not very entertaining, I realize.  I have been collecting freely available clips by The Who and many cover bands to talk about one Peter Townshend’s very best songs, and performances by the entire band.  You are welcome to comment with what you think is the name of the work.  I shall publish it one week from tonight.  Hint:  It is NOT Tommy, and dates from earlier.

Warmest regards,

Doc

Crossposted at Docudharma.com and at Dailykos.com

Prime Time

Yankees have taken a commanding lead, what did I tell you?  Reds @ Phillies, Braves @ Giants tonight on TBS.  A scattering of broadcast premiers.  Qualifying in Suzuka at 1 am.  More PrIson Porn (at least it knocks Larry O’Donnell off the air).

These people are here to protect you. They’re soldiers.

It won’t make any difference.

Later-

Maybe.

Evening Edition

Evening Edition is an Open Thread

From Yahoo News Top Stories

1 Hungary plays down toxic spill threat, toll rises to seven

by Geza Molnar, AFP

2 hrs 5 mins ago

BUDAPEST (AFP) – Hungarian officials on Friday played down the threat of disastrous pollution to the Danube river from an industrial accident in Hungary, while its prime minister said the situation was under control.

The death toll from Monday’s disaster meanwhile rose to seven, officials said, and one person was still missing.

Prime Minister Viktor Orban, who declared a state of emergency in three counties earlier this week, insisted there remained little risk of the pollution running into the Danube, Europe’s second-longest river.

2 Mosque bomb kills 20, including Afghan governor

by Gul Rahim, AFP

2 hrs 5 mins ago

KUNDUZ, Afghanistan (AFP) – A bomb tore through an Afghan mosque killing an outspoken governor and 19 other people on Friday in the latest attack reflecting growing violence in the north of the country.

Mohammad Omar, who was governor of Kunduz, one of the regions of northern Afghanistan most troubled by Taliban insurgents, was killed by a bomb in the town of Taluqan in his home province of Takhar.

“We have 20 people martyred and 15 others injured. The dead include the governor,” interior ministry spokesman Zemarai Bashary told AFP, updating an initial death toll of 15 given by police.

3 Jailed Chinese dissident Liu Xiaobo wins Nobel Peace Prize

by Aira-Katariina Vehaskari, AFP

9 mins ago

OSLO (AFP) – Jailed Chinese dissident Liu Xiaobo won the 2010 Nobel Peace Prize on Friday, sparking a furious backlash from Beijing and renewed Western calls for his immediate release.

The 54-year-old writer and university professor was honoured “for his long and non-violent struggle for fundamental human rights in China,” Norwegian Nobel Committee chairman Thorbjoern Jagland said in his announcement.

“The Norwegian Nobel Committee has long believed that there is a close connection between human rights and peace,” he added.

4 World Court orders restart of Congo warlord’s trial

by Mariette le Roux, AFP

Fri Oct 8, 11:27 am ET

THE HAGUE (AFP) – The International Criminal Court on Friday ordered the resumption of the war crimes trial of Congolese militia leader Thomas Lubanga, stalled since July, and reversed an order to free him.

“The decision to stay proceedings must be reversed,” judge Sang-Hyun Song, president of the court’s appeals chamber, said in The Hague.

Lubanga, 49, went on trial in January 2009 accused of using children under the age of 15 to fight for his militia during the five-year civil war in the Democratic Republic of Congo which ended in 2003.

5 US unexpectedly sheds 95,000 jobs in September

by Veronica Smith, AFP

Fri Oct 8, 12:48 pm ET

WASHINGTON (AFP) – The US economy unexpectedly shed 95,000 jobs in September as government slashed payrolls, official data showed Friday in a weak report less than a month ahead of key mid-term elections.

Government payrolls fell by a larger than anticipated 159,000, reflecting both a continued drop in the number of temporary jobs for the 2010 census and job losses in local government, the Labor Department said.

The census program is winding down, and after the departure of 77,000 temporary census workers in September, about 6,000 remain on the payroll, the department said.

6 US, China clash amid fears of currency war

by Andrew Beatty, AFP

51 mins ago

WASHINGTON (AFP) – The specter of a damaging global currency war hung over a meeting of economic powers in Washington Friday, as China and the United States again clashed over efforts to rebalance world trade.

Finance ministers and central bankers from the G20 met in the US capital hoping to ease a fierce debate between the rich and developing world over currency policies which are seen as skewing trade.

But there was little sign of consensus, as the United States again complained that China was not moving quickly enough to let its currency rise to a fair market value, while Beijing flatly rejected suggestions of rapid reform.

7 Kenya dominates as Botswana gets first gold

by Martin Parry, AFP

Fri Oct 8, 1:35 pm ET

NEW DELHI (AFP) – Kenyan women strode to the 1,500m and 10,000m Commonwealth Games titles on Friday as Amantle Montsho won Botswana’s first-ever gold medal.

European champion Andy Turner, meanwhile, led an English clean sweep of the men’s 110m hurdles.

Kenya came to New Delhi with a strong middle and long distance team and after their men failed to land the 5,000m title, their women were determined to reassert their dominance.

8 Top Obama national security aide resigns

by Stephen Collinson, AFP

Fri Oct 8, 1:20 pm ET

WASHINGTON (AFP) – President Barack Obama’s national security advisor James Jones is retiring and will be replaced by hard-charging deputy Tom Donilon, in a new shake-up Friday of key White House staff portfolios.

The decision by Jones, a tall, former Marine, which had been expected, comes at a time of rising US challenges abroad, including heightened terror threats and Iran’s nuclear defiance, and came a month before Obama tours Asia.

Jones will become the first high-profile member of Obama’s foreign and national security brain trust to leave, following the departures of several top-level economic advisors in recent months.

9 US security contractors ‘funnel cash to Taliban’

AFP

Fri Oct 8, 11:38 am ET

WASHINGTON (AFP) – US funds for private security contractors in Afghanistan have flowed to warlords and Taliban insurgents, undermining the war effort and fueling corruption, according to a Senate report.

An investigation by the Senate Armed Services Committee found that the government had failed to vet or manage those hired to provide security under contracts worth billions of dollars, with disastrous results.

“Our reliance on private security contractors in Afghanistan has too often empowered local warlords and powerbrokers who operate outside the Afghan government?s control and act against coalition interests,” said committee chairman Carl Levin.

10 UAE cancels planned BlackBerry services ban

by Acil Tabbara, AFP

Fri Oct 8, 5:36 am ET

DUBAI (AFP) – The United Arab Emirates said on Friday that a ban on BlackBerry services that had been due to come into effect next week will not go ahead, bringing relief in a country dependent on its reputation as a business hub.

The Telecommunications Regulatory Authority confirmed that Blackberry services are now compliant with the UAE’s regulatory framework, in a statement on the official WAM news agency.

“BlackBerry services will carry on as usual and will not be suspended on October 11,” the statement said.

11 Hungary spill pollution eases, no big risk to Danube

By Marton Dunai and Gergely Szakacs, Reuters

Fri Oct 8, 6:51 am ET

BUDAPEST (Reuters) – Pollution levels from a red sludge spill in Hungary have subsided in the Danube and there is no risk of a biological or environmental catastrophe in the major European waterway, Hungarian officials said on Friday.

Interior Minister Sandor Pinter told a news conference that the spill had not affected the drinking water supply so far and government spokeswoman Anna Nagy said the food chain was safe.

“Let’s not even consider the pollution that got into the Danube as real pollution now, as the material that got into the river has pH levels of below 9, which, considering the (large volume of) water, will dilute in a few kilometers,” Pinter said.

12 BofA’s U.S.-wide foreclosure halt draws call for more

By Joe Rauch, Reuters

10 mins ago

CHARLOTTE, North Carolina (Reuters) – U.S. lawmakers pushed for the country’s largest mortgage lenders to suspend foreclosures in all 50 states after Bank of America Corp announced on Friday it would temporarily halt evictions nationwide.

BofA, the largest U.S. mortgage servicer, is the first U.S. bank to institute a nationwide moratorium on foreclosures, expanding on a 23-state suspension announced last week while it conducts a review of its procedures.

Disclosures that some big U.S. mortgage processors filed false affidavits in thousands of foreclosure cases is drawing fresh scrutiny to an industry already in the sights of regulators and lawmakers for its role in the financial crisis.

13 China livid as dissident Liu wins Nobel Peace Prize

By Wojciech Moskwa and Ben Blanchard, Reuters

21 mins ago

OSLO/BEIJING (Reuters) – Jailed Chinese democracy activist Liu Xiaobo won the Nobel Peace Prize on Friday for two decades of non-violent struggle for human rights, infuriating China, which called the award “an obscenity”.

The prize shines a spotlight on human rights in China at a time when it is starting to play a leading role on the global stage as a result of its growing economic might.

“We have to speak when others cannot speak,” Norwegian Nobel Committee chairman Thorbjoern Jagland told Reuters. “As China is rising, we should have the right to criticize.”

14 California budget approved 100 days late

By Jim Christie, Reuters

Fri Oct 8, 1:11 pm ET

SACRAMENTO, California (Reuters) – California lawmakers on Friday approved a state budget filled with spending cuts and creative accounting to fill a $19.1 billion deficit, 100 days after a spending plan should have been in place.

Governor Arnold Schwarzenegger said he hoped to sign the budget package as soon as Friday evening, but critics fear his successor, to be elected on November 2, will immediately face a new shortfall as rosy revenue assumptions prove unfounded.

That’s a familiar story for California, which has seen its revenue plunge in recent years due to recession, as well as turmoil in financial and housing markets.

15 Payrolls fall and investors bet on Fed move soon

By Lucia Mutikani, Reuters

1 hr 31 mins ago

WASHINGTON (Reuters) – The economy shed jobs for a fourth straight month in September, hit by government layoffs and slower private hiring, hardening expectations of more stimulus from the Federal Reserve.

The dollar tumbled to a 15-year low against the yen as investors concluded that Friday’s weak jobs data meant the U.S. central bank at its November 2-3 meeting was almost certain to pump hundreds of billions of new dollars into the economy.

The employment report was the last before the November 2 mid-term Congressional elections and was a blow for President Barack Obama’s Democratic Party, trailing in opinion polls.

16 U.S. pulls Abbott’s Meridia diet drug off market

By Susan Heavey, Reuters

10 mins ago

WASHINGTON (Reuters) – Abbott Laboratories’ has pulled its controversial diet drug, Meridia, off the U.S. market after regulators said it was too dangerous, making it the latest casualty in the troubled obesity drug sector.

Although Abbott argued that its drug was safe, Food and Drug Administration officials said on Friday available data highlighting the Meridia’s heart risks raised serious questions about its use.

“Meridia’s continued availability is not justified when you compare the very modest weight loss that people achieve on this drug to their risk of heart attack or stroke,” John Jenkins, director of FDA’s Office of New Drugs, said in a statement.

17 Japan stands firm on FX intervention ahead of G7 meet

By Stanley White, Reuters

Fri Oct 8, 8:38 am ET

TOKYO (Reuters) – Japan said it will continue to intervene to curb a strong yen if necessary, just hours before G7 and IMF officials meet to discuss escalating tension over currency policies, and Thailand is also poised to act.

China, which has rebuffed calls from the West to let its currency rise faster, allowed the yuan to firm on Friday to its highest against the dollar since a revaluation in July 2005.

Traders said Beijing may be making some concessions ahead of International Monetary Fund and World Bank meetings this weekend. But they said any further rise would be limited so as not to harm its exports.

18 Afghan security contractor oversight poor: Senate report

By David Alexander, Reuters

Fri Oct 8, 1:26 am ET

WASHINGTON (Reuters) – A Senate inquiry into private security contracting in Afghanistan concluded on Thursday that funds had sometimes been funneled to warlords who were linked to the Taliban, murder and kidnapping.

The inquiry, by the Senate Armed Service Committee, found private security forces were often poorly trained and supervised by their companies and inadequately overseen by Defense Department contract managers.

“All too often our reliance on private security contractors in Afghanistan has empowered warlords, powerbrokers operating outside Afghan government control,” Democratic Senator Carl Levin said in releasing the report.

19 BofA halts foreclosures in 50 states

By ALAN ZIBEL, AP Real Estate Writer

12 mins ago

WASHINGTON – A mushrooming crisis over potential flaws in foreclosure documents is threatening to throw the real estate industry into chaos, as Bank of America on Friday became the first bank to stop taking back tens of thousands of foreclosed homes in all 50 states.

The move, along with another decision on foreclosures by PNC Financial Services Inc., adds to growing concerns that mortgage lenders have been evicting homeowners using flawed court papers, without verifying the information in them.

Charlotte, N.C.-based Bank of America Corp., the nation’s largest bank, said Friday it would no longer complete foreclosures in all 50 states as it reviews documents used to process foreclosures. That applies to homes that the bank takes back itself and those that it transfers to investors such as mortgage giants Fannie Mae and Freddie Mac.

20 Jones resigns as NSC chief, Donilon next director

By BEN FELLER, AP White House Correspondent

13 mins ago

WASHINGTON – In another White House shake up, President Barack Obama on Friday announced that his national security adviser, Gen. James Jones, was stepping down after helping to shape the foreign policy for nearly two years. Tom Donilon, Jones’ deputy, will take over as the top security adviser.

Obama hailed Jones, a lifelong military man before his White House post, as a “dedicated public servant and a friend to me.” The president turned over the job to Donilon, a workhorse figure in the White House who brings to the job a long background of Democratic politics and diplomacy.

The president said that Jones, from the start, had planned to leave within two years. The move comes just one week after Obama lost his chief of staff, Rahm Emanuel, who quit to run for Chicago mayor. Other significant staff changes are likely as Obama’s term nears its midterm mark.

21 Chinese dissident Liu wins Nobel Peace Prize

By CHARLES HUTZLER and KARL RITTER, Associated Press Writers

14 mins ago

BEIJING – China has long wanted a Nobel prize. Now that it has one, its leaders are furious. The Nobel committee awarded its peace prize to imprisoned democracy campaigner Liu Xiaobo on Friday, lending encouragement to China’s dissident community and sending a rebuke to the authoritarian government, which sharply condemned the award.

In naming Liu, the Norwegian-based committee honored his more than two decades of advocacy for human rights and peaceful democratic change – from the Tiananmen Square demonstrations in 1989 to a manifesto for political reform that he co-authored in 2008 and which led to his latest jail term.

President Barack Obama, last year’s peace prize winner, called for Liu’s immediate release.

22 Toxicity of Hungary’s red sludge flow drops

By PABLO GORONDI, Associated Press Writer

43 mins ago

KOLONTAR, Hungary – The concentration of toxic heavy metals where Hungary’s massive red sludge spill entered the Danube has dropped to the level allowed in drinking water, authorities said Friday, easing fears that Europe’s second longest river would be significantly polluted.

Monday’s reservoir break at an alumina plant dumped up to 700,000 cubic meters (184 million gallons) of sludge onto three villages, government officials said, not much less in a few hours than the 200 million gallons the blown-out BP oil well gushed into the Gulf of Mexico over several months.

The red sludge devastated creeks and rivers near the spill site and entered the Danube on Thursday, moving downstream toward Croatia, Serbia and Romania. Monitors were taking samples every few hours Friday to measure damage from the spill but the sheer volume of water in the mighty Danube appeared to be blunting the red sludge’s immediate impact.

23 Afghan governor killed in rising violence in north

By DEB RIECHMANN and RAHIM FAIEZ, Associated Press Writers

1 hr 12 mins ago

KABUL, Afghanistan – A powerful bomb killed an outspoken Afghan governor and 19 other worshippers in a crowded mosque Friday in northern Afghanistan, where insurgents are trying to expand their influence beyond the embattled south.

A wounded survivor said he believed a suicide bomber praying to the right of the governor carried out the attack, which wounded 35 people and took place in Taluqan, the capital of Takhar province.

The death of Mohammad Omar, the governor of neighboring Kunduz province, came just days after he publicly warned of escalating threats from Taliban and foreign fighters across the north. If steps aren’t taken to counter them, Afghan and coalition forces will face “disaster,” he said.

24 Judge tells school to admit nose-pierced NC girl

By EMERY P. DALESIO, Associated Press Writer

1 hr 14 mins ago

RALEIGH, N.C. – A federal judge ordered a North Carolina school to admit a 14-year-old high school student suspended for wearing a nose piercing she says is part of her religion, and the teenager headed to science class Friday afternoon.

U.S. District Judge Malcolm Howard on Friday ordered the Johnston County schools to suspend enforcement of their dress code for Ariana Iacono and allow her to return to school immediately. The judge ruled that the girl and her mother are likely to prevail in the lawsuit filed on their behalf by the American Civil Liberties Union.

“We are thrilled that Ariana can return to her studies,” her mother, Nikki Iacono, said in a statement released by the ACLU. “Ariana was an honor roll student in middle school, and she is eager to get back to her classes and continue with her education as soon as possible.”

25 Christie agrees to reconsider tunnel cancellation

By ANGELA DELLI SANTI, Associated Press Writer

46 mins ago

TRENTON, N.J. – U.S. Transportation Secretary Ray LaHood says New Jersey’s governor has agreed to take the next two weeks to rethink his decision to cancel a massive NJ-NY rail tunnel project.

LaHood met with Christie for nearly an hour at the New Jersey Statehouse on Friday. LaHood issued a statement shortly afterward saying that the Republican governor has agreed to review options for the tunnel into Manhattan.

LaHood says a small group of U.S. and New Jersey transportation officials will review the options and report back to Christie within two weeks.

26 Hoping to cut House losses, Dems try for firewall

By JULIE HIRSCHFELD DAVIS, Associated Press Writer

21 mins ago

WASHINGTON – Struggling to build a firewall against a Republican takeover, congressional Democrats are pouring money into roughly two dozen tight races around the country in the campaign’s closing weeks while pulling it back from others where their chances seem slimmer.

With polls showing Republicans increasingly well-positioned to seize control of the House, the Democrats are planning TV ad blitzes to shore up their best-positioned incumbents and a handful of challengers in races they believe they can still win.

At the same time, they’re scaling back advertising plans to help a number of lawmakers including Reps. Betsy Markey of Colorado, Harry Teague of New Mexico and Steve Driehaus and Mary Jo Kilroy of Ohio. They’ve also cut back on ad campaigns to defend Democratic-held open seats in Indiana and Kansas.

27 Analysis: Bleak news for Democrats in jobs report

By TOM RAUM, Associated Press Writer

1 hr 29 mins ago

WASHINGTON – The economic die is cast, and it’s grim news for Democrats. There’s nothing now that Congress or President Barack Obama can do to before the November elections to jolt the nation’s listless recovery.

Friday’s unemployment report – the last major economic news before the midterms – showed the nation continued to lose jobs last month, reinforcing the bleak reality that it probably will be not months but years before the jobless rate returns to pre-recession levels below 6 percent.

With nearly 15 million Americans still without work, that tightens the pressure on Democrats ahead of the Nov. 2 elections. And it also casts a dark shadow well into the 2012 election season and beyond.

28 Escape shaft nearly reaches Chile’s trapped miners

By MICHAEL WARREN, Associated Press Writers

19 mins ago

SAN JOSE MINE, Chile – Drillers neared the lower reaches of a gold and copper mine where 33 men have been trapped for more than two months, preparing Friday for a breakthrough that would unleash a national outpouring of joy.

Engineers were carving through the last 128 feet (39 meters) of rock, taking care to keep the T130 drill from jamming or punching through with too much force, Mining Minister Laurence Golborne said.

“We are very close,” Golborne said. “It would be very complicated if after all the work we have done … you lose the hole. We have to be very careful and do it in a controlled way.”

29 UAE, BlackBerry resolve dispute, averting ban

By ADAM SCHRECK, AP Business Writer

Fri Oct 8, 10:58 am ET

DUBAI, United Arab Emirates – The United Arab Emirates on Friday backed off a threat to cut key BlackBerry services, just days before a planned ban that could have harmed the country’s business-friendly reputation.

The last-minute decision ended more than two months of brinksmanship with the Canadian company that makes the smart phones, a tool popular both with businesspeople and gadget-loving consumers in this Gulf federation.

The ban on e-mail, messaging and Web services – which the government threatened to impose over security concerns – was due to take effect Monday.

30 Connecticut admits violations in men’s basketball

By PAT EATON-ROBB, Associated Press Writer

54 mins ago

HARTFORD, Conn. – The University of Connecticut has admitted its men’s basketball program committed major NCAA recruiting violations and has imposed its own sanctions, including two years’ probation and a loss of one scholarship for the next two seasons.

But the university says the evidence does not support the NCAA allegation that coach Jim Calhoun – who has won two national titles with the Huskies – failed to promote an atmosphere for compliance.

In a report released Friday, the school acknowledges its basketball staff made impermissible telephone calls and text messages as cited by the NCAA in a May report that followed a 15-month investigation. It also admits it improperly provided free game tickets to high school coaches and others.

31 Official: North Koreans will follow Kim Jong Un

Associated Press

2 hrs 31 mins ago

PYONGYANG, North Korea – A top official told APTN on Friday that North Koreans will be honored to follow the youngest son of Kim Jong Il as the third-generation leader of the communist nation.

The remarks were the first official comment about the future of Kim Jong Un, who just last week made his public debut.

Yang Hyong Sop, a top official in North Korea’s ruling Workers’ Party, referred to the 20-something Kim as “the young general” during an exclusive interview with APTN.

32 Pakistan probes video of apparent army executions

By NAHAL TOOSI, Associated Press Writer

Fri Oct 8, 6:25 am ET

ISLAMABAD – Pakistan’s army chief ordered an inquiry Friday into video clips that show men in soldiers’ uniforms gunning down a group of bound and blindfolded detainees. The footage has raised concern over possible extrajudicial killings by a military that receives billions in U.S. aid.

The two clips were apparently shot by cell phones and have been circulating on the Internet. The footage is grainy and shows no time stamps, and part of the army inquiry’s mission is to determine whether those shown in uniform were actually soldiers, Gen. Ashfaq Parvez Kayani’s statement said.

“It is not expected of a professional army to engage in excesses against the people whom it is trying to guard against the scourge of terrorism,” the general said, though he cautioned that militants had in the past posed as soldiers.

33 Jobs crisis extends to unemployed, lawmakers

By JEANNINE AVERSA and CHRISTOPHER S. RUGABER, AP Economics Writers

16 mins ago

WASHINGTON – There’s no relief from the jobs crisis – for everyday Americans or lawmakers facing the midterm elections.

The most rampant layoffs of teachers and other local government workers in nearly three decades more than offset weak hiring in the private sector in September, resulting in a net loss of 95,000 jobs. Unemployment remained stuck at 9.6 percent.

The jobless rate has now been at or above 9.5 percent for 14 straight months, the longest stretch since the Great Depression.

34 E-mails: Vilsack hastily decided to oust Sherrod

By MARY CLARE JALONICK, Associated Press Writer

Fri Oct 8, 1:17 pm ET

WASHINGTON – Former Agriculture Department employee Shirley Sherrod pleaded with officials to hear her out after she was ousted from the USDA during a racial firestorm in July, internal e-mails show.

Sherrod’s pleas reached Agriculture Secretary Tom Vilsack’s e-mail account soon after he ordered her dismissed from the department because of supposed racist remarks she made earlier in the year. He initially stuck by his decision despite her warnings that he didn’t have the full story.

Agriculture Department officials asked Sherrod to leave her job as Georgia’s director of rural development July 19 after comments she made in March were misconstrued as racist. She later received numerous apologies from the administration, including from President Barack Obama himself, and Vilsack asked her to return.

35 US spending on Afghan security contractors slammed

By ANNE FLAHERTY, Associated Press Writer

Fri Oct 8, 9:32 am ET

WASHINGTON – The U.S. is unintentionally aiding the Taliban and may be endangering coalition troops by relying on poorly monitored private security guards often provided by Afghan warlords, according to a Senate report. Military officials warn, however, that ending the practice of hiring local guards could worsen the security situation.

Sen. Carl Levin, chairman of the Senate Armed Services Committee which issued the report, said Thursday that he is worried the U.S. is unknowingly fostering the growth of Taliban-linked militias and posing a threat to U.S. and coalition troops at a time when Kabul is struggling to recruit its own soldiers and police officers.

The investigation follows a separate congressional inquiry in June that concluded trucking contractors pay tens of millions of dollars a year to local warlords for convoy protection.

36 Chicago mayor’s race casts shadow over state races

By DON BABWIN, Associated Press Writer

7 mins ago

CHICAGO – The most telling sign yet of how the wide-open race for Chicago mayor has overshadowed everything else this election season was that Rahm Emanuel was all but invisible when his former boss came home.

With President Barack Obama in town this week to stump for Democrats in the key midterm campaigns for U.S. Senate and governor, Emanuel kept a low profile after days of shaking hands and posing for pictures in front of TV cameras. His campaign said the former White House chief of staff did not want to be a distraction.

Less than a month ahead of the November elections, the race to replace Mayor Richard M. Daley has thrown a wild card into the other campaigns. The mayoral vote isn’t until February, but candidates already are competing for funds, news coverage and other attention, especially in Chicago’s big media market.

37 Weekend search may help map Civil War site in Mo.

By JIM SUHR, Associated Press Writer

1 hr 2 mins ago

ST. LOUIS – One of the nation’s leading battlefield archaeologists fanned out with volunteers in central Missouri Friday in hopes of pinpointing the exact spot of a Civil War battle that ended one of the divisive war’s most famous and longest raids.

Those involved say the search could be a boon for Missouri’s quest to draw in Civil War buffs as the 150th anniversary of the divisive conflict between the North and South fast approaches. Led by forensic archaeologist Doug Scott, they hope to find bullets, pieces of horse harnesses and other evidence from the 1863 Battle of Marshall – a skirmish that happened 147 years ago next Wednesday.

Missouri’s place in the war is undeniable: The state trails only Virginia and Tennessee in the number of Civil War battles fought. Those states, along with Pennsylvania, have been savvy in erecting battlefield monuments that lure thousands of visitors each year, boosting their tourism revenues.

38 Teacher tenure for breathing? NYC says no longer

By KAREN MATTHEWS, Associated Press Writer

2 hrs 19 mins ago

NEW YORK – Do public school teachers get tenure just by breathing?

It’s a claim made by a charter school leader in the education documentary “Waiting for ‘Superman,'” which places much of the blame for bad schools nationwide on union rules that protect incompetent teachers.

Mayor Michael Bloomberg announced on national television last week that he would overhaul the way city teachers are granted tenure, linking their advancement to improving student test scores.

39 Feds touting National Guard mission in Arizona

By AMANDA LEE MYERS, Associated Press Writer

2 hrs 45 mins ago

TUCSON, Ariz. – Government officials are showing off a site where National Guard troops have been deployed near the Mexican border, despite criticism that they will do nothing to stem the tide of illegal immigration.

The first troops began their mission on Aug. 30, and no member of the media has been allowed to see firsthand what they’ve been doing. Border Patrol agents are set to take reporters to one of several sites in southern Arizona on Friday where the troops are acting as what the agency calls “extra eyes and ears.”

The troops have no arrest power, and the guns they carry are only for self-defense. Their mission is to remain at “strategic locations” and look for and report any suspected illegal immigrants to the Border Patrol, whose agents make the arrest.

40 Miss. judge again asks courtroom to say pledge

By HOLBROOK MOHR and ADRIAN SAINZ, Associated Press Writer

Fri Oct 8, 3:17 am ET

TUPELO, Miss. – A Mississippi judge again asked everyone in his courtroom to stand and pledge allegiance to the flag, despite an uproar over whether he has the right to make such a request.

The furor began Wednesday when an attorney with a reputation for fighting free speech battles stayed silent as everyone else recited the patriotic oath. The lawyer was jailed.

A day later, Judge Talmadge Littlejohn continued to ask those in his courtroom to say the pledge.

41 Utah gay activists protest Mormon church remarks

By JENNIFER DOBNER, Associated Press Writer

Thu Oct 7, 11:50 pm ET

SALT LAKE CITY – Gay rights activists staged a silent protest Thursday outside the headquarters of the Mormon church in Salt Lake City in response to a church leader’s remarks that homosexuality is an immoral condition that can and should be overcome.

The sermon by Boyd K. Packer, president of the Quorum of the Twelve Apostles, came Sunday during the 180th semiannual general conference of The Church of Jesus Christ of Latter-day Saints in Salt Lake City.

In his remarks Packer said some would argue that gays “were pre-set and cannot overcome what they feel are inborn tendencies toward the impure and unnatural. Not so! Why would our Heavenly Father do that to anyone?”

42 Tax-slashing proposals scare GOP, Democrats

By IVAN MORENO, Associated Press Writer

Thu Oct 7, 7:58 pm ET

DENVER – Businessmen gather at an empty Denver Broncos stadium, with an ominous warning: The more than 70,000 vacant seats around them represent the number of state jobs that would be lost if three tax-slashing and debt-cutting measures are approved in next month’s election.

While many states are wrestling with billion-dollar budget deficits, Colorado voters are being asked to adopt ballot initiatives that would ban borrowing for public works, cut the income tax and slash local property taxes.

The net effect, once fully implemented, would cost the state $2.1 billion in revenue annually and still require an additional $1.6 billion in spending on public education, according to an analysis by the independent Colorado Legislative Council.

43 Report: 1 million Haitians in 1,300 squalid camps

By EDITH M. LEDERER, Associated Press Writer

Thu Oct 7, 6:36 pm ET

UNITED NATIONS – A refugee-advocacy group said Thursday that more than 70 percent of camps in Haiti, home to an estimated 1.3 million earthquake victims, lack proper international management nearly nine months after the disaster, leaving them at increased risk of sexual and gang violence, hunger and forced eviction.

Washington-based Refugees International said researchers visiting Haiti found that few of the roughly 1,300 camps they studied had International Organization for Migration-appointed officials to turn to for help and protection and are unable to communicate or coordinate with the international humanitarian community.

“The people of Haiti are still living in a state of emergency, with a humanitarian response that appears paralyzed,” the Refugees International report said. “Gang leaders or land owners are intimidating the displaced. Sexual, domestic, and gang violence in and around the camps is rising.”

Biting the Hand That Feeds You

(10 am. – promoted by ek hornbeck)

They all got theirs from government grants, programs or jobs and many of their family members receive benefits like Medicare and Social Security. Now, if elected these Republicans want to eliminate, cut and decimate all the very programs that gave them a start.

Michele Bachmann did vote to protect farm subsidies for wealthy recipients

Despite Joe Miller Calling Federal Aid Unconstitutional, His Wife Received Unemployment Benefits

Ron Johnson’s Latest Hypocrisy on Government Assistance: His Own Job Was Created by a Government Grant

Sharron Angle And Her Husband Receive Government Health Care.

Hypocrites that want to turn the US into a third world country with the rich and the poor and let the banks, financial industry and corporations run the show with little or no oversight.

Roubini Bad

I’ve tried to document in my posts on economics what a dismal position the United States is in.  I’ve tried to explain what Keynesian/Samuleson analysis predicts.  I’m Neo-Classical.

But now I’m going the full Roubini.

Title Fraud, let’s call it what it is, casts a question on the entire United States housing market- the single largest economic asset in the world financial system and leveraged up the wahzoo.  We are talking about vanishing tens of trillions of paper profits from the portfolios of the ‘stakeholders’.

This is going to cause massive economic disruption.  Easily the equal of 2008.

Welcome to shotgun and private fire department America.

Not that I’m in favor of either of those policies,  I think that even if people had minimum wage government jobs digging holes and filling them that would be about as good as anything except Food Stamps which also benefit billionaire ‘family farmers’.

There’s a ‘Jobs not Food Stamps’ program for you.

This is big.  Really, really big.

And whither CRE?  Et tu Brutus?

Ezra Klein: What’s happening here? Why are we suddenly faced with a crisis that wasn’t apparent two weeks ago?

Janet Tavakoli: This is the biggest fraud in the history of the capital markets. And it’s not something that happened last week. It happened when these loans were originated, in some cases years ago. Loans have representations and warranties that have to be met. In the past, you had a certain period of time, 60 to 90 days, where you sort through these loans and, if they’re bad, you kick them back. If the documentation wasn’t correct, you’d kick it back. If you found the incomes of the buyers had been overstated, or the houses had been appraised at twice their worth, you’d kick it back. But that didn’t happen here. And it turned out there were loan files that were missing required documentation. Part of putting the deal together is that the securitization professional, and in this case that’s banks like Goldman Sachs and JP Morgan, has to watch for this stuff. It’s called perfecting the security, and it’s not optional.

EK: And how much danger are the banks themselves in?

JT: When we had the financial crisis, the first thing the banks did was run to Congress and ask for accounting relief. They asked to be able to avoid pricing this stuff at the price where people would buy them. So no one can tell you the size of the hole in these balance sheets. We’ve thrown a lot of money at it. TARP was just the tip of the iceberg. We’ve given them guarantees on debts, low-cost funding from the Fed. But a lot of these mortgages just cannot be saved. Had we acknowledged this problem in 2005, we could’ve cleaned it up for a few hundred billion dollars. But we didn’t. Banks were lying and committing fraud, and our regulators were covering them and so a bad problem has become a hellacious one.

Obama Listens!

(2 pm. – promoted by ek hornbeck)

On Monday October 04…

…the Supreme Court said it would not take up a warrantless surveillance case, Wilner v. National Security Agency (NSA), filed by the Center for Constitutional Rights (CCR). The lawsuit argued that the Executive Branch must disclose whether or not it has records related to the wiretapping of privileged attorney-client conversations without a warrant. Lawyers for the Guantánamo detainees fit the officially acknowledged profile of those subject to surveillance under the former administration’s program, and the Bush administration argued in the past that the Executive Branch has a right to target them.

The Obama administration has never taken a position-in this or any of the other related cases-on whether the Bush administration’s NSA surveillance program was legal. In this case they claimed that even if it was illegal, the government has the right to remain silent when asked whether or not the NSA spied on lawyers,” said Shayana Kadidal, Senior Managing Attorney of the CCR Guantánamo Global Justice Initiative. “Today the Supreme Court let them get away with it.”  […]

The plaintiffs [had] filed a Freedom of Information Act (FOIA) request seeking records of any surveillance of their communications under the NSA’s warrantless surveillance program, which began after 9/11 but was only disclosed to the public in December 2005. The government refused to either confirm or deny whether such records existed, and the lower courts refused to order the government to confirm whether it had eavesdropped on attorney-client communications. The question before the Supreme Court was whether the government can refuse to confirm or deny whether records of such surveillance exist, even though any such surveillance would necessarily be unconstitutional and illegal.

more at CCR…

Real News Network’s Paul Jay talks with Shayana Kadidal** – Senior Managing Attorney of the Guantánamo Global Justice Initiative (GGJI) at the Center for Constitutional Rights about the CRR’s initiative and about this case and the Administration’s eavesdropping.



Real News Network – October 08, 2010

Shayana Kadidal: Government refuses to disclose possible wiretapping of civil rights lawyers

** Shayana Kadidal is senior managing attorney of the Guantánamo Global Justice Initiative at the Center for Constitutional Rights in New York City. He is a graduate of the Yale Law School and a former law clerk to Judge Kermit Lipez of the United States Court of Appeals for the First Circuit. In his eight years at the Center, he has worked on a number of significant cases in the wake of 9/11, including the Center’s challenges to the detention of prisoners at Guantánamo Bay (among them torture victim Mohammed al Qahtani and former CIA ghost detainee Majid Khan), which have twice reached the Supreme Court (with a third case to be heard in March 2010), and several cases arising out of the post-9/11 domestic immigration sweeps. He is also counsel in CCR’s legal challenges to the “material support” statute (to be argued at the Supreme Court in February 2010), to the low rates of black firefighter hiring in New York City, and to the NSA’s warrantless surveillance program.

Punting the Pundits

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.

Robert Reich: The Secret Big-Money Takeover of America

Not only is income and wealth in America more concentrated in fewer hands than it’s been in 80 years, but those hands are buying our democracy as never before — and they’re doing it behind closed doors.

Hundreds of millions of secret dollars are pouring into congressional and state races in this election cycle. The Koch brothers (whose personal fortunes grew by $5 billion last year) appear to be behind some of it, Karl Rove has rounded up other multimillionaires to fund right-wing candidates, the U.S. Chamber of Commerce is funneling corporate dollars from around the world into congressional races, and Rupert Murdoch is evidently spending heavily.

No one knows for sure where this flood of money is coming from because it’s all secret.

But you can safely assume its purpose is not to help America’s stranded middle class, working class, and poor. It’s to pad the nests of the rich, stop all reform, and deregulate big corporations and Wall Street — already more powerful than since the late 19th century when the lackeys of robber barons literally deposited sacks of cash on the desks of friendly legislators.

Paul Krugman: The End of the Tunnel

The Erie Canal. Hoover Dam. The Interstate Highway System. Visionary public projects are part of the American tradition, and have been a major driver of our economic development.

And right now, by any rational calculation, would be an especially good time to improve the nation’s infrastructure. We have the need: our roads, our rail lines, our water and sewer systems are antiquated and increasingly inadequate. We have the resources: a million-and-a-half construction workers are sitting idle, and putting them to work would help the economy as a whole recover from its slump. And the price is right: with interest rates on federal debt at near-record lows, there has never been a better time to borrow for long-term investment.

But American politics these days is anything but rational. Republicans bitterly opposed even the modest infrastructure spending contained in the Obama stimulus plan. And, on Thursday, Chris Christie, the governor of New Jersey, canceled America’s most important current public works project, the long-planned and much-needed second rail tunnel under the Hudson River.

Mike Lux: Obama Comes Through on Foreclosure Issue: What’s Next?

When the notarization on foreclosures issue suddenly flared up over the last 24 hours, my heart sank. Just as regular homeowners were starting to get some legal traction to fight back against fraud and predatory lending by big banks, it seemed, some bank lobbyist had managed to sneak something through in the dead of night that would screw people over again. It was Washington at its worst: the bank lobbyists in control, and Congress asleep at the wheel.

But then, that most delightful and rare of Washington moments happened: the system worked. Consumer advocates started raising hell on the blogs and in traditional media, the White House started looking more closely at the issue, and literally within a matter of hours, Obama announced that he was not going to sign the bill. No long, painful, drawn out internal debate at 1600 Pennsylvania. No twisting round trying to split the middle on the issue. As soon as the issue was raised, the White House team focused on it, and made the right decision quickly. Elizabeth Warren, the new Assistant to the President and Treasury Secretary, weighed in. Pete Rouse, the new Chief of Staff, got engaged immediately. And the President made the right decision.

So what did we learn? First, that exposing sleazy dead-of-night deals cut by the special interests does sometimes work. And second, that having good people in key government roles really does matter. Obama might well have done the right thing without Warren and Rouse there, but it sure did happen quickly and easily with them around.

Dean Baker: Currency Wars and Accounting Identities

There are few areas of economics more boring than accounting identities. This is really unfortunate, since it is virtually impossible to have a clear understanding of economic policy without a solid knowledge of the underlying identities.

Most of the people in Washington policy debates were apparently overcome by boredom before they could get this knowledge. As a result, we see some really silly policy debates.

The debate over the value of the dollar against the Chinese yuan is the latest episode in this silliness. The Washington tribal elite has been on the warpath against budget deficits in recent months. They have worked themselves into such a frenzy that nothing will stand in their way: not concerns about unemployment, not concerns about the well-being of our elderly, and not even concerns about basic economic logic.

The basic logical problem stems from the simple accounting identity that national savings is equal to the broadly measured trade surplus. A country with a large trade surplus will also have large national savings. Conversely, a country with a large trade deficit will have negative national savings. These relationships are accounting identities — there is no way around them.

Richard Trumka: Big Insurance, Pharma, Wall Street and John Boehner

By now there should be no question that if Boehner becomes speaker, corporations will call the shots — and the insurance companies, drug manufacturers and Wall Street firms have been busy paying big time for the privilege. Boehner’s campaign to date has collected nearly $7.1 million. Putting that sum in perspective, House Speaker Nancy Pelosi has received $2.9 million. Meanwhile, the “Boehner for Speaker” fundraising committee has racked up another $2 million.

Goldman Sachs, Citigroup, the American Bankers Association and Big Pharma are some of his biggest Wall Street backers, with the political action committees and employees of insurance firms alone giving nearly $426,000 to Boehner’s campaign committees through June 30, according to the Center for Responsive Politics.

Boehner is so soaked in lobbyist dollars that his clique of friends and current and former staff members on Capitol Hill have even been given a name: Boehner Land.

Joe Conason: The Ideologies Behind the Ideologues

Let nobody accuse the tea party enthusiasts of lacking intellectual sophistication, no matter what their favorite candidates might say about evolution, civil rights, masturbation or alcohol prohibition.

According to The New York Times, the movement’s reading list includes works of political economy by such right-wing thinkers as Ludwig von Mises, Friedrich von Hayek and Frederic Bastiat. (And never mind that some of them are reading Glenn Beck’s favorite crank, the late Cleon Skousen, who doesn’t quite belong in the same category.)

What makes this news so bemusing is not that the far right is rediscovering anarcho-capitalism or ultra-libertarianism-an ideology whose potential consequences were observed the other day in Tennessee, where firefighters watched a family’s house burn down because they hadn’t paid a fee. Mises, Hayek and their successors have long influenced the American right, from William F. Buckley Jr. to Alan Greenspan.

What’s funny is the sudden reverence among the tea party’s self-styled super-patriots for a bunch of foreign philosophers whose outlook is known as “Austrian economics,” except for Bastiat-whose Frenchness might be expected to arouse even greater suspicion among our nativists. Among the most bitter complaints against President Obama is his supposed penchant for European notions concerning health care reform, climate change and global security. His angriest critics at tea party demonstrations maliciously suggest that the president is himself a foreigner who doesn’t respect the American way.

Paul Rieckhoff: As Washington Stands Idle, the Private Sector Steps Up for Vets

Veterans don’t need lip service. They need jobs. And so far, we haven’t seen any meaningful action coming from Washington. But a powerful ally is stepping up to fill the void: The Private Sector.

None of us need reminding that we’re in one of the worst economies in decades.  More than 15 million Americans are jobless, and veterans are being hit even harder. Young veterans are facing 20% unemployment, a rate that has nearly doubled from just 6.1% in 2007. . . . .

While Washington stands idle, the private sector has been revving up. From Microsoft to Walmart to Outback Steakhouse, enlightened companies are stepping up to hire veterans and connect them with the tools needed to succeed in the workforce.

On This Day in History: October 8

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

October 8 is the 281st day of the year (282nd in leap years) in the Gregorian calendar. There are 84 days remaining until the end of the year.

 

On this day in 1871, flames spark in the Chicago barn of Patrick and Catherine O’Leary, igniting a 2-day blaze that kills between 200 and 300 people, destroys 17,450 buildings,leaves 100,000 homeless and causes an estimated $200 million (in 1871 dollars; $3 billion in 2007 dollars) in damages.

The Great Chicago Fire was a conflagration  that burned from Sunday, October 8, to early Tuesday, October 10, 1871, killing hundreds and destroying about 4 square miles (10 km2) in Chicago, Illinois. Though the fire was one of the largest U.S.  disasters of the 19th century, the rebuilding that began almost immediately spurred Chicago’s development into one of the most populous and economically important American cities.

On the municipal flag of Chicago, the second star commemorates the fire. To this day the exact cause and origin of the fire remain a mystery.

The fire started at about 9 p.m. on Sunday, October 8, in or around a small shed that bordered the alley behind 137 DeKoven Street.[3]  The traditional account of the origin of the fire is that it was started by a cow kicking over a lantern in the barn owned by Patrick and Catherine O’Leary. Michael Ahern, the Chicago Republican reporter who created the cow story, admitted in 1893 that he had made it up because he thought it would make colorful copy.

The fire’s spread was aided by the city’s overuse of wood for building, a drought prior to the fire, and strong winds from the southwest that carried flying embers toward the heart of the city. The city also made fatal errors by not reacting soon enough and citizens were apparently unconcerned when it began. The firefighters were also exhausted from fighting a fire that happened the day before.

After the fire

Once the fire had ended, the smoldering remains were still too hot for a survey of the damage to be completed for days. Eventually it was determined that the fire destroyed an area about four miles (6 km) long and averaging 3/4 mile (1 km) wide, encompassing more than 2,000 acres (8 km²). Destroyed were more than 73 miles (120 km) of roads, 120 miles (190 km) of sidewalk, 2,000 lampposts, 17,500 buildings, and $222 million in property-about a third of the city’s valuation. Of the 300,000 inhabitants, 90,000 were left homeless. Between two and three million books were destroyed from private library collections. The fire was said by The Chicago Daily Tribune to have been so fierce that it surpassed the damage done by Napoleon’s siege of Moscow in 1812. Remarkably, some buildings did survive the fire, such as the then-new Chicago Water Tower, which remains today as an unofficial memorial to the fire’s destructive power. It was one of just five public buildings and one ordinary bungalow spared by the flames within the disaster zone. The O’Leary home and Holy Family Church, the Roman Catholic congregation of the O’Leary family, were both saved by shifts in the wind direction that kept them outside the burnt district.

 314 – Roman Emperor Licinius is defeated by his colleague Constantine I at the Battle of Cibalae, and loses his European territories.

451 – At Chalcedon, a city of Bithynia in Asia Minor, the first session of the Council of Chalcedon begins (ends on November 1).

1075 – Dmitar Zvonimir is crowned King of Croatia.

1200 – Isabella of Angouleme is crowned Queen consort of England.

1480 – Great standing on the Ugra river, a standoff between the forces of Akhmat Khan, Khan of the Great Horde, and the Grand Duke Ivan III of Russia, which results in the retreat of the Tataro-Mongols and the eventual disintegration of the Horde.

1573 – End of the Spanish siege of Alkmaar, the first Dutch victory in Eighty Years War.

1582 – Because of the implementation of the Gregorian calendar this day does not exist in this year in Italy, Poland, Portugal and Spain.

1600 – San Marino adopts its written constitution.

1806 – Napoleonic Wars: Forces of the British Empire lay siege to the port of Boulogne in France by using Congreve rockets, invented by Sir William Congreve.

1813 – The Treaty of Ried was signed between Bayern and Austria.

1821 – The government of general Jose de San Martín establishes the Peruvian Navy.

1829 – Rail transport: Stephenson’s The Rocket wins The Rainhill Trials.

1856 – The Second Opium War between several western powers and China begins with the Arrow Incident on the Pearl River.

1860 – Telegraph line between Los Angeles and San Francisco opens.

1862 – American Civil War: Battle of Perryville – Union forces under General Don Carlos Buell halt the Confederate invasion of Kentucky by defeating troops led by General Braxton Bragg at Perryville, Kentucky.

1871 – Four major fires break out on the shores of Lake Michigan in Chicago, Peshtigo, Wisconsin, Holland, Michigan, and Manistee, Michigan including the Great Chicago Fire, and the much deadlier Peshtigo Fire.

1879 – War of the Pacific: the Chilean Navy defeats the Peruvian Navy in the Battle of Angamos, Peruvian Admiral Miguel Grau is killed in the encounter.

1895 – Eulmi incident- Queen Min of Joseon, the last empress of Korea, is assassinated and her corpse burnt by the Japanese in Gyeongbok Palace.

1912 – First Balkan War begins: Montenegro declares war against Turkey.

1918 – World War I: In the Argonne Forest in France, United States Corporal Alvin C. York leads an attack that kills 25 German soldiers and captures 132.

1928 – Joseph Szigeti gives the first performance of Alfredo Casella’s Violin Concerto.

1932 – The Indian Air Force is established.

1939 – World War II: Germany annexes Western Poland.

1941 – World War II: In their invasion of the Soviet Union, Germany reaches the Sea of Azov with the capture of Mariupol.

1944 – World War II: The Battle of Crucifix Hill occurs on Crucifix Hill just outside Aachen. Capt. Bobbie Brown receives a Medal of Honor for his heroics in this battle.

1956 – New York Yankees’s Don Larsen pitched the only perfect game in a World Series; one of only 20 perfect games in MLB history.

1962 – Spiegel scandal: Der Spiegel publishes the article “Bedingt abwehrbereit” (“Conditionally prepared for defense”) about a NATO manoeuver called “Fallex 62”, which uncovered the sorry state of the Bundeswehr (Germany’s army) facing the communist threat from the east at the time. The magazine is soon accused of treason.

1962 – Algeria joins the United Nations.

1967 – Guerrilla leader Che Guevara and his men are captured in Bolivia.

1968 – Vietnam War: Operation Sealords – United States and South Vietnamese forces launch a new operation in the Mekong Delta.

1969 – The opening rally of the Days of Rage occurs, organized by the Weather Underground in Chicago, Illinois.

1970 – Vietnam War: In Paris, a Communist delegation rejects US President Richard Nixon’s October 7 peace proposal as “a maneuver to deceive world opinion”.

1973 – Yom Kippur War: Gabi Amir’s armored brigade attacks Egyptian occupied positions on the Israeli side of the Suez Canal, in hope of driving them away. The attack fails, and over 150 Israeli tanks are destroyed.

1974 – Franklin National Bank collapses due to fraud and mismanagement; at the time it is the largest bank failure in the history of the United States.

1978 – Australia’s Ken Warby sets the current world water speed record of 317.60mph at Blowering Dam, Australia.

1982 – Poland bans Solidarity and all trade unions.

1990 – Israeli-Palestinian Conflict: In Jerusalem, Israeli police kill 17 Palestinians and wound over 100 near the Dome of the Rock mosque on the Temple Mount.

1998 – Oslo’s Gardermoen airport opens after the close down of Fornebu airport.

2001 – A twin engine Cessna and Scandinavian Airlines System (SAS) jetliner collide in heavy fog during takeoff from Milan, Italy killing 118.

2001 – U.S. President George W. Bush announces the establishment of the Office of Homeland Security.

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