Derivatives

In simulation I like playing Craps because the odds are good on certain bets if you have a big enough wallet to sustain some modest losses.

You know, a system.

Mine is based on Place Bets and Buy Bets on the 5, 6, 8, and 9 and their favorable odds rate entirely depends on if they’re off during the Come Out roll (if you didn’t understand all of that you should stay out of dank back alleys and brightly lit casinos).

In the maths a Derivative is the rate of change on a curve and our Wall Street Croupiers have decided that they can securitize a bet on on that change and with a compliant Ratings Agency sell that to you as something with value.

They’re nucking futz.

When we talk about “de-leveraging” this is what we’re talking about.  This fictional valuation disappears as do your table stakes which is why you always take your winnings away.  There’s hardly any retail investment in equities because the market is crooked to the core.

Only sucker bets and quick money on the felt now.

Securitization

More Economics 101

Let’s say I have an asset, a lottery payout, a bond, a judgement, a mortgage note, something that is guaranteed to pay out a specific amount of revenue over time.

Well, I can sell that for cash money right now at a certain amount of risk surcharge (not that I do, but it’s a common practice).  I can bundle large quantities of them to reduce my risk surcharge, I can group them from the most to least risky and sell them at market.

Caveat Emptor.

The Ratings Agencies will criminally overvalue them and the tranching will pollute the title so the underlying debt is potentially uncollectable.  23 States think so.  Quite a hair trim!

I’m surprised there’s a housing market at all.

Accountancy is supposed to be boring!

In the bleak days of nineteen-eighty-three, as England languished in the doldrums of a ruinous monetarist policy, the good and loyal men of the Permanent Assurance Company– a once-proud family firm, recently fallen in hard times– strained under the yoke of their oppressive new corporate management.

Pushed beyond the bounds of decent and reasonable victimisation, the aged retainers take their destiny in their own hands and– Mutiny!

And so, the Crimson Permanent Assurance was launched upon the high seas of international finance.

There it lay, the prize they sought, the richest jewel in the crown of the I.M.F.: a financial district swollen with multi-nationals, conglomerates, and fat, bloated merchant banks.

Hidden behind the faceless, towering canyons of glass, the world of high finance sat smug and self-satisfied as their future, in the shape of their past, slipped silently through the streets, returning to wreak a terrible revenge.

Adopting, adapting, and improving traditional business practises, the Permanent Assurance puts into motion an audacious and totally unsuspected takeover bid.

And so, heartened by their initial success, the desperate and reasonably violent men of the Permanent Assurance battled on… until, as the sun set slowly in the west, the outstanding return on their bold business venture became apparent: the once-proud financial giants lay in ruins, their assets stripped, their policies in tatters.

Full speed ahead, Mr. Cohen!

Up, up, up your premium. Up, up, up your premium.

Scribble away!

Up, up, up your premium.

And balance the books.

Up, up, up your premium.

Scribble away!

Up, up, up your premium.

But manage the books.

Up, up, up.

It’s fun to charter an accountant

And sail the wide accountancy,

To find, explore the funds offshore

And skirt the shoals of bankruptcy!

It can be manly in insurance.

We’ll up your premium semi-annually.

It’s all tax deductible.

We’re fairly incorruptible,

We’re sailing on the wide accountancy!

Sail away!

Up, up, up…

And so, they sailed off into the ledgers of history, one by one, the financial capitals of the world crumbling under the might of their business acumen,… or so it would have been… if certain modern theories concerning the shape of the world had not proved to be… disastrously wrong.

Prime Time

More broadcast premiers.  Great Performances has Patick Stewart as Macbeth.  TBS has the Division Series, Reds @ Phillies, Yankees @ Twins.

Later-

Dave hosts David Axelrod and Julie Chen.  Jon has Phillip Dray, Stephen Mavis Staples and Jeff Tweedy.  No Alton.

BoondocksThe Real.

Don’t be so gloomy. After all it’s not that awful. Like the fella says, in Italy for 30 years under the Borgias they had warfare, terror, murder, and bloodshed, but they produced Michelangelo, Leonardo da Vinci, and the Renaissance. In Switzerland they had brotherly love – they had 500 years of democracy and peace, and what did that produce? The cuckoo clock. So long Holly.

If you could’ve found out what Rosebud meant, I bet that would’ve explained everything.

No, I don’t think so; no. Mr. Kane was a man who got everything he wanted and then lost it. Maybe Rosebud was something he couldn’t get, or something he lost. Anyway, it wouldn’t have explained anything… I don’t think any word can explain a man’s life. No, I guess Rosebud is just a… piece in a jigsaw puzzle… a missing piece.

Zap2it TV Listings, Yahoo TV Listings

Evening Edition

Evening Edition is an Open Thread

From Yahoo News Top Stories

1 Pakistan Taliban attacks destroy more than 40 NATO vehicles

AFP

1 hr 4 mins ago

PESHAWAR, Pakistan (AFP) – More than 40 NATO vehicles were destroyed in two separate Taliban attacks in Pakistan Wednesday as the militants stepped up their efforts to disrupt supply routes into Afghanistan.

In the latest attack, at least 26 NATO oil tankers were torched when militants opened fire on a convoy of dozens of vehicles parked in Nowshera in northwestern Pakistan, police said.

Earlier militants attacked a depot housing 40 NATO oil tankers on the outskirts of the southwestern city of Quetta, killing a member of staff and destroying at least 18 vehicles.

2 Taliban blow up NATO tankers to avenge drone attacks

AFP

Wed Oct 6, 7:34 am ET

MIRANSHAH, Pakistan (AFP) – The Taliban in Pakistan’s Islamist northwest — home to an alleged terror plot targeting Europe — said Wednesday their militants had again blown up NATO oil tankers to avenge US drone attacks.

The militants opened fire on a depot housing 40 tankers on the outskirts of the southwestern city of Quetta, killing a member of staff and destroying at least 18 vehicles, in the fourth such attack in a week.

“There were about eight to 10 attackers. They came in two cars and started shooting tankers and set them on fire,” police official Hamid Shakeel told AFP.

3 US judge nixes star government witness in terror trial

by Sebastian Smith, AFP

40 mins ago

NEW YORK (AFP) – A judge Wednesday barred the star prosecution witness from testifying in the first civilian trial of an ex-Guantanamo inmate, in a blow to US administration plans for bringing terror suspects to justice.

The dramatic decision by Judge Lewis Kaplan forced a week’s delay in the trial of Ahmed Khalfan Ghailani, who is accused of a key role in the bombings of two US embassies in Africa in 1998 that killed 224 people.

The barred witness, Hussein Abebe, was to testify that he sold Ghailani explosives before the deadly, nearly simultaneous bombings against the US embassies in Kenya and Tanzania.

4 New delay in trial of ex-Guantanamo inmate

AFP

Wed Oct 6, 12:00 pm ET

NEW YORK (AFP) – A judge on Wednesday barred a key government witness from appearing in the trial of a former Guantanamo inmate, in a setback to the US administration’s bid to try terrorism suspects in civilian courts.

Judge Lewis Kaplan postponed the first trial in a civilian court of a former inmate from the notorious US military prison in Cuba until Tuesday to give prosecutors time to appeal his ruling.

Kaplan ruled that the witness, Hussein Abebe, could not testify in the trial of Ahmed Khalfan Ghailani who is accused of a key role in the killing of 224 people during the bombings against two US embassies in Africa in 1998.

5 British embassy car attacked, Frenchman shot dead in Yemen

by Hammoud Mounassar, AFP

Wed Oct 6, 12:18 pm ET

SANAA (AFP) – A British embassy car came under rocket attack in Yemen on Wednesday and a Frenchman working for an Austrian oil firm was shot dead, highlighting the growing dangers in the Arabian peninsula’s poorest nation.

The Yemeni government pointed the figure at Al-Qaeda.

Police in Sanaa said a rocket-propelled grenade targeted the car about three kilometres (two miles) from the British embassy, the second attack on a British diplomatic vehicle in the city in six months.

6 Carbon atom pioneers share Nobel chemistry prize

by Rita Devlin Marier, AFP

29 mins ago

STOCKHOLM (AFP) – Three scientists shared the 2010 Nobel Prize for Chemistry on Wednesday for forging a toolkit to manipulate carbon atoms, paving the way for new drugs to fight cancer and for revolutionary plastics.

Richard Heck of the United States and Ei-ichi Negishi and Akira Suzuki of Japan were hailed for producing “great art in a test tube.”

The trio separately made outstanding contributions in organic chemistry, a field whose basis is carbon, one of the essential elements of life and also of innumerable industrial synthetics.

7 IMF warns global recovery might not be sustained

by Andrew Beatty, AFP

Wed Oct 6, 1:26 pm ET

WASHINGTON (AFP) – Rich and emerging economies must dramatically change the way they trade with each other or risk throttling the global economic recovery, the International Monetary Fund warned on Wednesday.

In its latest economic outlook, the IMF said growth would slow more than previously expected in 2011, as the United States, Europe and Japan continue to struggle and China remains overly dependent on exports.

The recovery is “neither strong nor balanced and runs the risk of not being sustained,” warned Olivier Blanchard, the IMF’s chief economist.

8 Aussies in charge, Delhi battles to save reputation

by Dave James, AFP

2 hrs 32 mins ago

NEW DELHI (AFP) – Australia tightened their Commonwealth Games gold medal grip Wednesday as embattled Delhi organisers scrambled desperately to salvage the crisis-hit, publically-shunned event’s crumbling reputation.

On a bumper day when 27 gold medals were won, Australia claimed 12 with the country’s swimmers responsible for five while their cyclists pedalled to three.

Hosts India, desperate for their competitors to put a gloss over the Games’ setbacks, were hanging onto the tails of Australia by winning three shooting golds, two weightlifting as well as a victory in wrestling.

9 Games lurch on as athletics takes centre stage

by Martin Parry, AFP

Wed Oct 6, 6:52 am ET

NEW DELHI (AFP) – The blue-riband athletics programme was given the go-head at the Commonwealth Games on Wednesday after frantic last-minute repairs to fix the damaged track as Australia and India grabbed more gold.

The first two track and field titles will be decided — men’s 5,000m and women’s javelin — among a bumper crop of 28 gold medals on the third full day of competition.

The pool will be the busiest venue in terms of medals with eight titles being contested, climaxing in the two 4x200m freestyle relays. Two synchronised swimming golds will also be awarded.

10 Liverpool board accepts Boston Red Sox owners’ bid

by Danny Kemp, AFP

2 hrs 21 mins ago

LONDON (AFP) – Liverpool’s board of directors agreed Wednesday to sell the English football giants to the owner of the Boston Red Sox baseball team, despite fierce opposition from the club’s current American owners.

The deal with New England Sports Ventures (NESV) is subject to approval by the Premier League and a legal battle with US owners Tom Hicks and George Gillett, who bought the club three years ago and tried to scupper the latest sale.

“I am delighted that we have been able to successfully conclude the sale process which has been thorough and extensive,” Liverpool chairman Martin Broughton said.

11 Hungary says clean-up of toxic spill could take a year

by Geza Molnar, AFP

Wed Oct 6, 12:16 pm ET

BUDAPEST (AFP) – A damburst of toxic sludge that killed at least four people and left scores needing treatment for chemical burns and other injuries could take up to a year to clean up, officials said Wednesday.

“The clean-up and reconstruction could take months, even a year,” Environment Secretary Zoltan Illes said.

On Monday, the retaining walls of a reservoir at an aluminium plant in Ajka in western Hungary collapsed, sending a toxic soup of industrial waste cascading through seven villages.

12 Hungary scrambles to contain toxic mud spill

by Geza Molnar, AFP

Wed Oct 6, 6:13 am ET

BUDAPEST (AFP) – Hungary scrambled Wednesday to contain a toxic mud spill that left four people dead and more than 100 injured in what is being described as an “ecological catastrophe” for the region around the Danube river.

“We’ve been working to neutralise the rivers since yesterday and we’re already getting good results showing that alkaline levels in the water are falling,” a spokewoman for the disaster relief services Timea Petroczi told AFP.

“We’ve got 500 people involved in the clean-up today. We’re using high-pressure water jets to clean roads and houses.”

13 All the city’s a stage in theater-crazed Buenos Aires

by Oscar Laski, AFP

Wed Oct 6, 10:27 am ET

BUENOS AIRES (AFP) – All the city’s a stage in Buenos Aires, where a surge of interest in the dramatic arts has rendered every street corner an amphitheatre and every pub a theater.

“There’s a lot of acting going on in Buenos Aires — in the bars, in the buses, in the streets,” said director Ricardo Bartis, in the courtyard of a small theater he has set up in what was once a private house.

In Buenos Aires, a city of about three million people, there are currently 198 theaters, 180 of which are small-scale, independent operations.

14 EU, China in tug-of-war summit over yuan, trade

by Claire Rosemberg, AFP

Wed Oct 6, 7:36 am ET

BRUSSELS (AFP) – China heads for a potentially divisive summit with Europe on Wednesday as Brussels raises demands for improved conditions with its second-largest trade partner and presses for a revaluation of the Chinese currency.

The EU-China meeting follows an EU-South Korea summit the same day marked by the signing of a historic free trade pact, the first in a possible slew that Europe hopes to seal with Asia.

“Trade liberalisation,” said EU president Herman Van Rompuy at the signing ceremony, “is key to the recovery of the world economy.”

15 Gunmen torch NATO trucks in new raids in Pakistan

By Zeeshan Haider, Reuters

1 hr 55 mins ago

ISLAMABAD (Reuters) – Gunmen in Pakistan set fire to up to 40 supply trucks for NATO troops in two raids on Wednesday, police said, the latest in a series of assaults on the logistical backbone of the war in Afghanistan.

The attacks were launched on the same day the United States apologized to Pakistan for a NATO cross-border incursion in which U.S. helicopters killed two Pakistani soldiers.

U.S. Ambassador Anne Patterson called the killings a terrible accident.

16 U.S. backs Afghan reconciliation, no comment on talks

By Ross Colvin and David Brunnstrom, Reuters

31 mins ago

WASHINGTON/BRUSSELS (Reuters) – The United States on Wednesday renewed its support for an Afghan reconciliation effort aimed at ending a 9-year-old war that has worsened, despite the presence of nearly 150,000 foreign troops in the country.

White House spokesman Robert Gibbs, however, declined to give any details of reported high-level secret talks between representatives of the Taliban and Afghan President Hamid Karzai’s government.

He said U.S. officials were playing no role in the reconciliation effort.

17 American, two Japanese share Nobel for chemical tool

By Patrick Lannin and Adam Cox, Reuters

Wed Oct 6, 10:22 am ET

STOCKHOLM (Reuters) – A U.S. and two Japanese scientists won the Nobel Prize for Chemistry on Wednesday for inventing new ways to bind carbon atoms with uses that range from fighting cancer to producing thin computer screens.

Richard Heck, Ei-ichi Negishi and Akira Suzuki shared the prize for the development of “palladium-catalyzed cross-coupling,” the Nobel Committee for Chemistry at the Royal Swedish Academy of Sciences said in a statement.

“Palladium-catalyzed cross-coupling is used in research worldwide, as well as in the commercial production of, for example, pharmaceuticals and molecules used in the electronics industry,” the committee said.

18 Court considers anti-gay protests at funerals

By James Vicini, Reuters

2 hrs 11 mins ago

WASHINGTON (Reuters) – The Supreme Court on Wednesday considered whether a church has the legal right to stage anti-gay protests at U.S. military funerals to promote its claim that God is angry at America for tolerance toward homosexuals.

In an important test of free-speech versus privacy rights, the court heard arguments on whether a protest message and picketing at the private funeral, although considered offensive by many, were protected by the U.S. Constitution’s First Amendment.

Albert Snyder, the father of a Marine killed in Iraq in 2006, appealed to the Supreme Court after the family’s funeral service at a Roman Catholic church in Westminster, Maryland, drew unwanted protests by members of the Westboro Baptist Church in Topeka, Kansas.

19 Global policymakers clash on currency policies

By Steven C. Johnson, Reuters

30 mins ago

NEW YORK (Reuters) – Global policymakers clashed over exchange rates on Wednesday as Western leaders warned China and other emerging markets that simultaneous efforts to weaken their currencies could derail economic recovery.

Treasury Secretary Timothy Geithner said countries with large trade surpluses must let their currencies rise lest they trigger a devastating round of competitive devaluations.

“When large economies with undervalued exchange rates act to keep the currency from appreciating, that encourages other countries to do the same,” Geithner said Wednesday ahead of the weekend’s semi-annual international Monetary Fund meeting.

20 Special report: In Britain’s cities, the pain begins

By Lorraine Turner and Golnar Motevalli, Reuters

Wed Oct 6, 8:12 am ET

LONDON (Reuters) – Inside Birmingham’s council chamber, a red-carpeted semi-circular room with Italian walnut-clad walls, the leader of Europe’s largest local government authority is preparing his colleagues for pain.

Over the past six years, Birmingham has cut more than 180 million pounds ($286 million) from the 1 billion pounds the council can spend, explains Mike Whitby, City Council Leader. “Now however, we need to find the same again, plus over 100 million pounds more, and all within less than four years.”

That will hurt. In September, Birmingham, which like the national government is controlled by Conservatives and Liberal Democrats, wrote to just under 26,000 public sector employees warning them that their jobs are at risk. As in other councils across Britain, the city is examining every service it runs, from street lights to nurseries for children. It has contemplated deals with foreign investors. There is talk it might, some day, return to the bond market.

21 Democrats hang on to leads in California

By Steve Holland, Reuters

Wed Oct 6, 1:42 am ET

WASHINGTON (Reuters) – Democratic candidates hold a narrow advantage in the run-up to November’s congressional elections in California where big-spending Republican Meg Whitman is struggling in the race for governor, a Reuters/Ipsos poll found on Tuesday.

As Democratic voters show increased enthusiasm in the country’s most-populous state, Democrat Jerry Brown leads Whitman in the race to succeed Arnold Schwarzenegger as governor, 50 percent to 43 percent.

Whitman is a billionaire and former eBay CEO who has spent at least $119 million of her own money on her campaign.

22 Militants attack two Western targets in Yemen

By Mohamed Sudam, Reuters

Wed Oct 6, 8:32 am ET

SANAA (Reuters) – Suspected al Qaeda militants attacked two Western targets in Yemen on Wednesday, firing a rocket at a senior British diplomat’s car and killing a Frenchman at a gas and oil installation.

The attacks bore the hallmarks of al Qaeda, which has threatened to strike against Western targets and the Yemeni government, which declared war on the group’s local arm after it claimed a failed attack on a U.S.-bound airliner in December.

In London, the British Foreign Office said a British Embassy vehicle carrying the deputy chief of the British mission was attacked and that one British embassy staff member in the vehicle suffered a minor injury.

23 Climate talks struggle as China and U.S. face off

By Chris Buckley, Reuters

Wed Oct 6, 7:49 am ET

TIANJIN, China (Reuters) – The United States said on Wednesday that U.N. climate talks were making less progress than hoped because of a rift over rising economies’ emission goals, while China rejected pressure and put the onus on rich nations.

Negotiators from 177 governments are meeting this week in the north Chinese city of Tianjin trying to agree on the shape of the successor to the current phase of the Kyoto Protocol, the key U.N. treaty on fighting global warming, which expires in 2012.

“There is less agreement than one might have hoped to find at this stage,” said Jonathan Pershing, the United States Deputy Special Envoy for Climate Change and lead U.S. negotiator in Tianjin.

24 Panel: Gov’t thwarted worst-case scenario on spill

By DINA CAPPIELLO, Associated Press Writer

45 mins ago

WASHINGTON – The Obama administration blocked efforts by government scientists to tell the public just how bad the Gulf oil spill could become and made other missteps that raised questions about its competence and candor during the crisis, according to a commission appointed by the president to investigate the disaster.

In documents released Wednesday, the national oil spill commission’s staff describes “not an incidental public relations problem” by the White House in the wake of the April 20 accident.

Among other things, the report says, the administration made erroneous early estimates of the spill’s size, and President Barack Obama’s senior energy adviser went on national TV and mischaracterized a government analysis by saying it showed most of the oil was “gone.” The analysis actually said it could still be there.

25 Special report: In age of austerity, lobbyists prosper

By Peter Apps, Political Risk Correspondent

Wed Oct 6, 8:06 am ET

LONDON (Reuters) – Until recently, clients came to London-based political consultant Chris Whitehouse for help in winning government grants and contracts. Now they want advice on how to survive. There are the charities which face an end to government funding and worry they may cease to exist.

There are the big companies whose government contracts are under threat. And there are the smaller businesses dependent on contracts with public bodies such as local councils who have told him nervously that they might face bankruptcy.

You can hear similar concerns in corporate offices and lobbyist meeting rooms across Europe this year. In the face of the worst economic downturn in 70 years, Berlin says it will cut 80 billion euros between 2011 and 2014. Athens has frozen public sector pay, slashed holiday bonuses, frozen pensions and raised the retirement age as it tries to narrow its budget gap to 2.6 percent from 13.6 percent of GDP in 2009 to 2.6 percent by 2014. In London, the coalition government which formed after an election in May says it wants to reduce government spending by 25 percent over the next five years.

26 AP-GfK Poll: Working-class whites move toward GOP

By ALAN FRAM, Associated Press Writer

43 mins ago

WASHINGTON – Working-class whites are favoring Republicans in numbers that parallel the GOP tide of 1994 when the party grabbed control of the House after four decades.

The increased GOP tilt by these voters, a major hurdle for Democrats struggling to keep control of Congress in next month’s elections, reflects a mix of two factors, an Associated Press-GfK poll suggests: unhappiness with the Democrats’ stewardship of an ailing economy that has hit this group particularly hard, and a persistent discomfort with President Barack Obama.

“They’re pushing the country toward a larger government, toward too many social programs,” said Wayne Hollis, 38, of Villa Rica, Ga., who works at a home supply store.

27 US apologizes for attack on Pakistani soldiers

By SEBASTIAN ABBOT, Associated Press Writer

44 mins ago

ISLAMABAD – The U.S. apologized Wednesday for a recent helicopter attack that killed two Pakistani soldiers at an outpost near the Afghan border, saying American pilots mistook the soldiers for insurgents they were pursuing.

The apology, which came after a joint investigation, could pave the way for Pakistan to reopen a key border crossing that NATO uses to ship goods into landlocked Afghanistan. Pakistan closed the crossing to NATO supply convoys in apparent reaction to the Sept. 30 incident.

Suspected militants have taken advantage of the impasse to launch attacks against stranded or rerouted trucks, including two Wednesday where gunmen torched at least 55 fuel tankers and killed a driver.

28 New program will boost security at military bases

By LOLITA C. BALDOR, Associated Press Writer

46 mins ago

WASHINGTON – Nearly a year after a shooting rampage at Fort Hood, Texas, the Pentagon is taking new steps to beef up security and surveillance programs at its bases, and will join an FBI intelligence-sharing program aimed at identifying future terror threats, U.S. officials said.

The new partnership with the FBI’s eGuardian program comes two years after the Pentagon shut down a controversial anti-terror database that collected reports of suspicious activity near military installations. The now-defunct program, called TALON, was closed after revelations it had improperly stored information on peace activists.

Defense officials have moved carefully to set up the new programs, trying to balance the protection of the nation’s armed forces with the privacy and civil rights of Americans.

29 ACLU sues NC school over student’s nose piercing

By TOM BREEN, Associated Press Writer

47 mins ago

RALEIGH, N.C. – The American Civil Liberties Union claims in a lawsuit filed Wednesday that a North Carolina school violated the constitutional rights of a 14-year-old student by suspending her for wearing a nose piercing.

The lawsuit from the state chapter of the ACLU seeks a court order allowing Ariana Iacono to return immediately to Clayton High School, which has kept her on suspension for four weeks since classes started.

The complaint hinges on Iacono’s claim that her nose piercing isn’t just a matter of fashion, but an article of faith. She and her mother, Nikki, belong to a small religious group called the Church of Body Modification, which sees tattoos, piercings and the like as channels to the divine.

30 Virulent skin germ grates on Maine lobstering isle

By DAVID SHARP, Associated Press Writer

48 mins ago

PORTLAND, Maine – A strain of a drug-resistant skin disease that has afflicted sports teams, prisons and military units is now proving a persistent pest among lobstermen and their families on a Maine island.

Over the past two summers, more than 30 people on Vinalhaven have come down with painful and persistent skin infections that required repeated treatments with intravenous antibiotics for some of the victims – but medical authorities say lobster lovers need not worry.

There’s no indication that the germ is linked to lobsters, and boiling or steaming them would kill any bacteria that infected fishermen who handle them might leave behind, said Dr. Stephen Sears, Maine state epidemiologist.

31 Feds: 8 touches of ‘Shrek’ glass hazard for kids

By JUSTIN PRITCHARD, Associated Press Writer

24 mins ago

LOS ANGELES – Federal regulators leaned on McDonald’s to quickly recall 12 million “Shrek”-themed drinking glasses this spring because they concluded that a typical 6-year-old could be exposed to hazardous levels of the metal cadmium by touching one of the glasses just eight times in a day, according to documents obtained under the federal Freedom of Information Act.

Of the four collectibles in the series tied to the hit movie “Shrek Forever After,” the glass depicting the character Puss in Boots, with a predominantly orange design, prompted the recall push.

The investigatory file shows how the U.S. Consumer Product Safety Commission aggressively turned a tip that the glasses contained cadmium in their colored exterior designs into an assessment that the Puss in Boots glasses posed an unacceptable risk to some kids.

32 Uncertainty over US plans as war enters 10th year

By DEB RIECHMANN, Associated Press Writer

Wed Oct 6, 2:01 pm ET

KABUL, Afghanistan – It’s make-or-break time in Afghanistan.

The war enters its 10th year Thursday, and this is no ordinary anniversary.

With extra American troops now in place, this is the critical juncture to determine if President Barack Obama’s revised war stategy will work and reverse Taliban momentum.

33 EU to Hungary: Don’t let toxic sludge hit Danube

By PABLO GORONDI and BELA SZANDELSZKY, Associated Press Writers

Wed Oct 6, 12:54 pm ET

KOLONTAR, Hungary – Hungary opened a criminal probe into the toxic sludge flood Wednesday and the European Union urged emergency authorities to do everything they can to keep the contaminated slurry from reaching the Danube and affecting half a dozen other nations.

Hundreds of people had to be evacuated after a gigantic sludge reservoir burst Monday at a metals plant in Ajka, a town 100 miles (160 kilometers) southwest of Budapest, the capital.

At least four people were killed, three are still missing and 120 were injured as the unstoppable torrent inundated homes, swept cars off roads and disgorged an estimated 1 million cubic meters (35 million cubic feet) of toxic waste onto several nearby towns.

34 Trio wins Nobel for developing key chemistry tool

By MALCOLM RITTER and KARL RITTER, Associated Press Writers

53 mins ago

NEW YORK – A method for building complex molecules has paid off by helping to fight cancer, protect crops and make electronic devices – and now it has earned its developers a Nobel Prize.

Three men – two Japanese scientists and an American researcher – designed the technique to bind together carbon atoms, a key step in assembling the skeletons of organic compounds used in medicine, agriculture and electronics.

Their work in the 1960s and 1970s provided “one of the most sophisticated tools available to chemists today (and) vastly improved the possibilities for chemists to create sophisticated chemicals,” the Nobel committee said.

35 NTSB examining California pipeline emergency plan

By SHARON THEIMER, Associated Press Writer

Wed Oct 6, 2:23 pm ET

WASHINGTON – Federal investigators are examining whether the California utility whose natural gas pipeline explosion killed at least eight people had an adequate emergency response plan, a government spokesman said Wednesday amid disclosures that such plans are effectively withheld from the public and industry watchdogs.

City and county officials said the company didn’t share its plan with them before the disaster.

The National Transportation Safety Board’s investigation into the September pipeline blast in San Bruno, Calif., includes examining Pacific Gas & Electric Co.’s emergency response plan and whether it was followed, NTSB spokesman Peter Knudson said.

36 FBI: Stripper, drugs, guns and judge don’t mix

By GREG BLUESTEIN, Associated Press Writer

Wed Oct 6, 12:58 pm ET

ATLANTA – A 67-year-old federal judge’s wild relationship with a stripper started with a lap dance, prosecutors said, and quickly escalated into escapades of prostitution and gun-toting drug deals for cocaine and prescription pills.

Senior Judge Jack T. Camp, a veteran jurist who had achieved a status that allowed him a lighter caseload, now finds himself in a peculiar position, in front of one of his peers, and with lawyers combing through his decisions, wondering whether they have grounds to challenge them.

“I don’t know whether the allegations are true or whether they infected the decision making, but it’s incumbent upon me to raise these issues,” said Gerry Weber, a civil rights attorney who is readying an appeal in a case that Camp ruled on in June.

37 5 Afghan children among 9 dead in Kandahar blasts

By MIRWAIS KHAN, Associated Press Writer

Wed Oct 6, 9:50 am ET

KANDAHAR, Afghanistan – President Hamid Karzai condemned the “enemies of Afghanistan” on Wednesday after roadside bombs killed nine people, including five children, as insurgents fight intensified NATO-led operations in the south.

Meanwhile, NATO and Afghan forces reported killing 22 militants – including two “shadow” governors of northern provinces.

In the roadside bombings Tuesday night in Kandahar city, the Interior Ministry said nine people were killed and 30 injured, including many police officers. The blasts targeted a police vehicle and ripped through an intersection – a day after four officers died in coordinated bombings that were also aimed at police.

38 GOP-allied group weighs in with $4 million in ads

By JIM KUHNHENN, Associated Press Writer

Tue Oct 5, 11:06 pm ET

WASHINGTON – A deep-pocketed alliance with ties to top Republicans Karl Rove and Ed Gillespie is pumping more than $4 million into key Senate races in a single week of advertising, a crucial infusion to counter a surge in Democratic Party spending as Election Day draws near.

The new wave of ads by Crossroads Grassroots Policy Strategies and its affiliate, American Crossroads, comes during the final, most intense weeks of the congressional campaign. The money, together with that of other groups aligned with the GOP, represents a new beachhead in this year’s less regulated world of money and politics.

For the two Crossroads groups, the new spending means they have poured nearly $14 million into fiercely competitive Senate races in eight states – Florida, Illinois, Kentucky, Missouri, Pennsylvania, Nevada, Colorado and Washington – since August.

39 Bank bailout supporters struggling for re-election

By TOM RAUM, Associated Press Writer

Tue Oct 5, 9:19 pm ET

WASHINGTON – The government’s giant bank bailout may well have averted a second Great Depression, economists say, but a lot of voters aren’t buying it. Support for the program is turning into a kiss of death for many in Congress.

Longtime Republican lawmakers – tarred by their votes for the emergency aid to banks, insurance and auto companies – have been sent packing in primaries. Fresh political attack ads are lambasting candidates from both parties for supporting the $700 billion package that Republican President George W. Bush pushed through Congress at the height of the financial crisis in October 2008.

The actual cost to taxpayers will be far less than the original price tag, perhaps totaling $50 billion or less. But it’s been difficult for lawmakers to make the case that they saved the nation from possible financial ruin – as some economists suggest. It’s far easier for opponents, especially in political sound bites, to portray the issue as Wall Street fat cats against ordinary Main Street folks in the final-weeks cacophony of the campaign.

40 Mass. congressman’s wife pleads guilty in tax case

By DENISE LAVOIE, AP Legal Affairs Writer

47 mins ago

BOSTON – As U.S. Rep. John Tierney watched from the front row of a federal courtroom, his wife pleaded guilty Wednesday to charges that she helped her brother conceal income from an illegal offshore gambling business that generated millions of dollars.

Patrice Tierney, 59, of Salem, entered guilty pleas to four counts of aiding and abetting the filing of false tax returns related to her fugitive brother, Robert Eremian. She was accused of managing a bank account for her brother that took in more than $7 million in illegal gambling profits.

“I take full responsibility for what my part in this was,” Patrice Tierney told U.S. District Judge William Young, who released her on personal recognizance. Sentencing is scheduled for Jan. 13.

41 Gay teen suicides create a ‘teachable moment’

By GEOFF MULVIHILL, Associated Press Writer

52 mins ago

HADDONFIELD, N.J. – Gay Americans have arrived at a “teachable moment.”

Often feeling marginalized in political discourse or grousing that they’re used as political pawns, they have the nation’s attention – and sympathy – after a recent spate of teenage suicides and two apparent anti-gay attacks in the heart of their community.

Same-sex marriage and gays in the military remain on the political front burner, but general education and anti-discrimination campaigns are drawing a wider audience. While advocates hesitate to appear as if they’re capitalizing on tragedy, some observers say the political gains from it could come naturally.

42 Environmentalists fret about NY island’s future

By FRANK ELTMAN, Associated Press Writer

1 hr 23 mins ago

PLUM ISLAND, N.Y. – Researchers since the 1950s have studied dangerous animal diseases here that if unleashed could imperil the nation’s livestock. Cold War germ warfare testing also occurred on Plum Island, and for decades the U.S. Army used it as a coastal defense post.

Nevertheless, many environmentalists characterize it as a “remarkable gem” and “exemplary site for fish and wildlife” when describing its attributes.

The federal government wants to relocate the animal disease lab to Kansas and is proceeding with plans to sell the isolated, 840-acre pork chop-shaped island off the eastern tip of Long Island, a move that has some environmentalists fretting about Plum Island’s future.

43 Judge delays hearing into Texas man’s execution

By JEFF CARLTON, Associated Press Writer

1 min ago

AUSTIN, Texas – A judge asked to re-examine evidence used to convict a Texas man who was executed for burning down his home and killing his three daughters postponed a hearing in the case on Wednesday, after prosecutors asked the judge to step aside.

State District Judge Charles Baird delayed the hearing in the Cameron Todd Willingham case until Oct. 14, telling the court he wanted to give an attorney for Willingham’s family time to respond to prosecutors’ request to have him removed. In the meantime, Baird may decide to recuse himself or ask another judge to decide whether he should step aside.

Attorneys for Willingham’s family, backed by the New York-based legal aid center the Innocence Project, are seeking to clear his name. Willingham was put to death in 2004 after being convicted of burning down his Corsicana home in 1991 and killing his 2-year-old daughter and 1-year-old twins. Several fire experts have found serious fault in the arson findings that led to Willingham’s 1992 conviction.

44 Stop to go! Philly trains to recycle brake energy

By PATRICK WALTERS, Associated Press Writer

2 hrs 38 mins ago

PHILADELPHIA – For years, subway cars have been able to recycle some of the energy created when they brake, turning it into electricity to help power the train or others running on the rails at the same time.

The problem is it’s a short-term benefit, with much of the energy wasted by the time the train stops braking. Now, transit agencies in Philadelphia and other cities across the country are hoping to harness that lost energy by storing it in batteries and putting it back into the system, something that could potentially save millions of dollars in energy costs.

“What we’re wasting here is the kinetic energy of a moving train,” said Andrew Gillespie, chief engineer of power for Philadelphia’s transit agency, the Southeastern Pennsylvania Transportation Authority. He estimates that 50 to 70 percent of that power is wasted.

45 Mazda’s new small car is fun to drive

By ANN M. JOB, For The Associated Press

Wed Oct 6, 12:41 pm ET

The bright, neon-green exterior ensured no one missed my 2011 Mazda2 test car. But it was the hatchback’s maneuverable small size and fuel economy that really caught everyone’s attention.

New for 2011, the diminutive Mazda2 is the first smaller, so-called B-segment car that Mazda Motor Corp. of Japan has brought to the United States in some seven years.

Less than 13 feet long and lighter than many small hatchback competitors, the Mazda2 is a nimble, five-door handler whose 100 horsepower engine provides a surprisingly sprightly ride, particularly with the five-speed manual transmission.

46 Anti-gay church’s lawyer study in contradictions

By JOHN HANNA, Associated Press Writer

Tue Oct 5, 11:03 pm ET

TOPEKA, Kan. – In one photo, Margie Phelps has a furrowed brow and is stomping on the American flag at one of the numerous protests her fundamentalist church has held nationwide against the military, gays and the Catholic church.

Another picture reveals a different Phelps. One with a warm smile as she’s presented an award for her work at the Kansas Department of Corrections, where she puts in long hours and is known for her calm demeanor in helping former prison inmates return to society.

To some, Phelps is a study in contradictions. She’s a member of her family’s divisive Westboro Baptist Church and she’s set to go before the U.S. Supreme Court on Wednesday to represent her church in a case that tests the scope of free speech protections under the Constitution’s First Amendment.

47 US seeks big vote on Russia nuclear arms pact

By EDITH M. LEDERER, Associated Press Writer

Tue Oct 5, 8:37 pm ET

UNITED NATIONS – The Obama administration is hoping for an overwhelming Senate vote this year to ratify the new arms control treaty with Russia, the chief U.S. negotiator said Tuesday.

Rose Gottemoeller said chances for ratification of the New START Treaty in the “lame duck” session after the November midterm elections are “good.”

She pointed to the 14-4 bipartisan vote in the Senate Foreign Relations Committee last month which sent the treaty to the full Senate, and the administration’s efforts to build support including answering about 900 questions from senators and holding 18 hearings and four major briefings.

48 Black community looks for Chicago mayor candidate

By TAMMY WEBBER, Associated Press Writer

Tue Oct 5, 8:12 pm ET

CHICAGO – Black ministers, politicians and business leaders are scrambling to unify their community behind one candidate in Chicago’s wide-open mayoral race, which already features a former White House chief of staff, as many as four congressmen and a sheriff among those preparing to run.

So many potential candidates have surfaced – at least a dozen in the black community alone – that many fear the black vote could be widely split, ruining a chance to exercise the kind of influence that helped elect Chicago’s first black mayor, Harold Washington, in 1983.

Among other considerations is whether Rahm Emanuel, praised by President Barack Obama even as he left the administration last week to run, will win support from black voters in Obama’s hometown.

People Power: European Activism & Constitutional Crises

(4 pm. – promoted by ek hornbeck)

All across Europe recently there have been wave after wave of co-ordinated general strikes and massive demonstrations showing a solidarity and a unity across unions representing different kinds of workers in different countries, different levels of skill, against austerity proposals by governments, that put to shame the levels of public street activism in the US and Canada.

Fresh off a summer lecturing in Greece and France, economist, author, and Professor Emeritus of Economics at the University of Massachusetts, Amherst, Richard D. Wolff, well-known for his work on Marxian economics, economic methodology and class analysis, Yale University Ph.D. in Economics, and Professor at The New School University in New York City, gives his analysis on the massive European mobilizations and strikes. He also compares the US movement to the European one, and find the European workers to be much more advanced in their struggle.

This extraordinary unity is all built around a central demand which can be conveyed by their chief slogan: we are the working people who produce the profits, the goods, and the service of the capitalist economy; we are not going to pay for its crisis. And that’s really the central demand, that if the banks and the corporations and the speculations produced a crisis that working people had no role in-and I want to remind viewers that in Europe they didn’t even have the mortgage kind of crisis in European countries that we had here; it was a crisis of the banking sector, the financial, large corporations, and so on-the demand of the people is, we are not going to be made to pay. You’re not going to solve this economic crisis by having the government borrow money, throw the money at the banks and the big corporations, bail them out, and then make the mass of people pay by cutting government payrolls, by cutting government services, all those things called austerity.



Real News Network – October 05, 2010

European Workers Distance from US Through Action

Richard Wolff: European workers say they won’t pay for crisis while US counterparts talk of ‘One Nation

(transcript below)

Transcript:

JESSE FREESTON, PRODUCER, TRNN: The past week saw mass mobilizations of the left in both Europe and the United States. But according to Richard Wolff, visiting professor of economics at the New School in New York, the European actions were of a much more militant nature. Wolff spent the summer lecturing in Greece and France. He joined us from New York.

RICHARD D. WOLFF, ECONOMICS PROFESSOR, THE NEW SCHOOL: An absolutely historical event occurred in Europe. For the first time, perhaps ever, but certainly in a very long time, coordinated strikes and demonstrations occurred in nearly every European country, from one country, Spain, in which a general strike basically stopped everything in the country, to a coordinated demonstration at the center of the European Parliament in Brussels, to all kinds of strikes and demonstrations in Scandinavia, in Poland, in Great Britain, in Greece, in Portugal, in France, in Germany, demonstrating a solidarity and a unity across unions representing different kinds of workers in different countries, different levels of skill, immigrants, native folks. This extraordinary unity is all built around a central demand which can be conveyed by their chief slogan: we are the working people who produce the profits, the goods, and the service of the capitalist economy; we are not going to pay for its crisis. And that’s really the central demand, that if the banks and the corporations and the speculations produced a crisis that working people had no role in-and I want to remind viewers that in Europe they didn’t even have the mortgage kind of crisis in European countries that we had here; it was a crisis of the banking sector, the financial, large corporations, and so on-the demand of the people is, we are not going to be made to pay. You’re not going to solve this economic crisis by having the government borrow money, throw the money at the banks and the big corporations, bail them out, and then make the mass of people pay by cutting government payrolls, by cutting government services, all those things called austerity. It will only make the economic crisis worse if governments lay off large numbers of people and cut back public services. That will make everyone’s life harder. It will make more people unemployed and unable to buy things and maintain the mortgage payments on their homes. So for them it is a nonsensical response to an economy that’s already in trouble. Their solution? Simple. The way you overcome a government debt is to reduce the need for the government to borrow, and the way to do that is finally-and they believe it’s long overdue-to use the government’s taxing power to tax those most able to pay. The wealthiest top 5 percent of all European countries are the ones who have done best in the last 30 years. They’ve become, relatively, much richer compared to the average person. They’ve done better. They have the greatest ability. If the government taxed them, it would have the resources to fix the economy, which will not only be better for everybody else, but in the end it will be better even for those rich people than letting the economy continue to deteriorate, which only creates greater tension between the few who are wealthy and the large middle and poor that are really being asked to bear the lion’s share of the cost of an economic crisis they did not cause.

FREESTON: While the European actions highlight class differences, Wolff says that the US message of one nation ignores them.

WOLFF: It demands a very mild [inaudible] in the nature of an appeal and a hope for something to be done. The Europeans are far beyond that. They’re making a demand. In some countries, for example France, they are really demanding that either the government reverse its policy or the government has to leave. It’s a constitutional crisis.

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.

Rep. Lynn Woolsey (D-Calif.): Repeal “Don’t Ask, Don’t Tell” Now

“Don’t Ask, Don’t Tell” is a fundamental issue of civil rights and human dignity that deserves to be taken far more seriously.  Since 1993, more than 14,000 Americans have been relieved of their duties under “Don’t Ask, Don’t Tell.”  That’s about 15 people dismissed every week, their jobs taken away, their service and their honor denigrated, not because of how they performed but because of who they are.

I can’t think of anything less American than asking young men and women to die for our freedoms, and then not extending them those very same

freedoms.  It’s incomprehensible to me that we would ask our troops to live with secrets and shame about the core of their very identities.  And how can

an institution as devoted to truth and honor as the U.S. military enshrine and embrace a doctrine that instructs people to lie?

I’m fully aware that being in the military involves a subjugation of self that is unique, that makes it different than just about any other job.  But that does

not justify “Don’t Ask, Don’t Tell.”  As former Army Captain Jonathan Hopkins wrote in the New York Times: “Other soldiers don’t get enough

time with their families; I’m prohibited from having a family.”

Any policy that forces brave Americans to choose between serving their country and having a family is just deplorable.  Enough is enough.  It’s time

to get rid of “Don’t Ask, Don’t Tell.”

Amy Goodman: From Tuskegee to Guatemala Via Nuremberg

News broke last week that the U.S. government purposefully exposed hundreds of men in Guatemala to syphilis in ghoulish medical experiments conducted during the late 1940s. As soon as the story got out, President Barack Obama phoned President Alvaro Colom of Guatemala to apologize. Colom called the experiments “an incredible violation of human rights.” Colom also says his government is studying whether it can bring the case to an international court.

The revelations came about through research conducted by Wellesley College medical historian Susan Reverby on the notorious Tuskegee syphilis study. The two former U.S. government research projects, in Tuskegee, Ala., and Guatemala-equally noxious-are mirror images of each other. Both point to the extremes to which ethics can be disregarded in the pursuit of medical knowledge, and serve as essential reminders that medical research needs constant supervision and regulation. . . . .

Researchers are quick to point out that such practices are a thing of the past and have led to strict guidelines ensuring informed consent of subjects. Yet efforts are being made to loosen restrictions on medical experimentation in prisons. We need to ask what “informed consent” means inside a prison, or in a poor community when money is used as an incentive to “volunteer” for research. Medical research should only happen with humane standards, informed consent and independent oversight, if the lessons of Nuremberg, Tuskegee and, now, Guatemala are to have meaning.

Paul Krugman: If the Choice Is a CEO, Obama Should Say No

There has been a great deal of speculation in the media lately about whether President Barack Obama will, or should, decide to appoint a former chief executive officer to take over for Lawrence H. Summers, the director of the National Economic Council.

Mr. Summers announced in late September that he will be leaving at the end of the year.

Now, obviously, Mr. Obama should simply choose someone who can do a good job as his top economic adviser. Forget about image, or the message the appointment would supposedly send – there are about 600 people in the United States who care, and most of them are paid to care about these sorts of things.

Is having been a successful C.E.O. a good qualification for this job? The answer is no.

Bob Herbert: That’s Where the Money Is

It’s beyond astonishing to me that John Boehner has a real chance to be speaker of the House of Representatives.

I’ve always thought of Mr. Boehner as one of the especially sleazy figures in a capital seething with sleaze. I remember writing about that day back in the mid-’90s when this slick, chain-smoking, quintessential influence-peddler decided to play Santa Claus by handing out checks from tobacco lobbyists to fellow Congressional sleazes right on the floor of the House.

It was incredible, even to some Republicans. The House was in session, and here was a congressman actually distributing money on the floor. Other, more serious, representatives were engaged in debates that day on such matters as financing for foreign operations and a proposed amendment to the Constitution to outlaw desecration of the flag. Mr. Boehner was busy desecrating the House itself by doing the bidding of big tobacco. . . .

The U.S. is in terrible shape right now because far too much influence has been ceded to the financial and corporate elites who have used that influence to game the system and reap rewards that are almost unimaginable. Ordinary working Americans have been left far behind, gasping and on their knees.

John Boehner has been one of the leaders of the army of enablers responsible for this abominable state of affairs.

David Sirota: D.C. GOPers Attack Conservative Voters for Questioning Pentagon Waste

Over the last few months, we’ve seen some serious — and potentially groundbreaking — fractures in the old consensus over defense spending. In particular, we’ve seen the rise of rank-and-file conservatives  who have been more willing to connect their deficit grievances with the bloated Pentagon budget. Indeed, I saw this firsthand when I interviewed top-tier Republican congressional candidate Ryan Frazier on AM760 — a veteran, he said that we need to look seriously at defense spending cuts.

Joan Walsh: Christine O’Donnell is not me!

And neither was Linda Tripp. Another troubled GOP woman finds solace in saying, “I’m you” — but we’re not buying it

The folks at Crooks and Liars beat me to it,  but I meant to blog last night about that crazy Christine O’Donnell commercial, where she declares, “I’m you!” Because those of us who remember the Clinton impeachment as the previous low point in our political culture (at least in my adult lifetime) were all, apparently, creeped out in exactly the same way. Those were the very words Monica Lewinsky betrayer Linda Tripp used after her infamous grand jury appearance in 1998. . . . .

At least Tripp didn’t have to start with, “I’m not a witch” (although the woman Time magazine dubbed “The friend from hell” might have used another word that rhymes with rich, given her appalling treatment of Lewinsky, a young woman who confided in her.) . . .

I honestly thought O’Donnell’s makeover ad was another parody when I first saw it.  But the best stylists can’t flat-iron the kookiness out of the candidate. Rock on, Christine — but please stop pretending you’re me!

Melissa McEwan: Sex in the US: the shocking truth

The way a survey is reported, you’d think it’s a surprise anyone’s having any. This hypocritical puritanism poisons public discourse

The profound disconnect between who we are and who we regard ourselves to be would be amusing if it weren’t so dangerous. The persistent narratives that we keep our bits buttoned-up and locked-down, only allowed fresh air for dignified attempts at Jesus-sanctioned reproduction attempts, that kids shouldn’t be having sex because they’re irresponsible, that same-sex sex is for deviant weirdos, are the damnable propaganda that underlie some of the most destructive, woman-hating, gay-hating legislation in this nation.

The lies we tell ourselves about who we are in the bedroom (or on the kitchen floor, or the conference room table at work, or the backseat of the car) are why we still argue about funding comprehensive sex education in public schools, why we are still fighting the slow but steady erosion of the conferred rights of Roe v Wade in state governments, why we are still having the absurd debate about whether we should allow to serve openly the gay, lesbian and bisexual soldiers who are willing to die for this country, in spite of its stubborn insistence on treating them as second-class citizens. . . .

Sex is different for different people. If only that weren’t still a radical statement in America.

On This Day in History: October 6

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

October 6 is the 279th day of the year (280th in leap years) in the Gregorian calendar. There are 86 days remaining until the end of the year.

On this day in 1927. The Jazz Singer makes its debut in New York City.

The first feature-length motion picture with synchronized dialogue sequences, its release heralded the commercial ascendance of the “talkies” and the decline of the silent film era. Produced by Warner Bros. with its Vitaphone sound-on-disc system, the movie stars Al Jolson, who performs six songs. Directed by Alan Crosland, it is based on a play by Samson Raphaelson.

The story begins with young Jakie Rabinowitz defying the traditions of his devout Jewish family by singing popular tunes in a beer hall. Punished by his father, a cantor, Jakie runs away from home. Some years later, now calling himself Jack Robin, he has become a talented jazz singer. He attempts to build a career as an entertainer, but his professional ambitions ultimately come into conflict with the demands of his home and heritage.

The premiere was set for October 6, 1927, at Warner Bros.’ flagship theater in New York City. The choice of date was pure show business-the following day was Yom Kippur, the Jewish holiday around which much of the movie’s plot revolves.  The buildup to the premiere was tense. Besides Warner Bros.’ precarious financial position, the physical presentation of the film itself was remarkably complex:

   

Each of Jolson’s musical numbers was mounted on a separate reel with a separate accompanying sound disc. Even though the film was only eighty-nine minutes long…there were fifteen reels and fifteen discs to manage, and the projectionist had to be able to thread the film and cue up the Vitaphone records very quickly. The least stumble, hesitation, or human error would result in public and financial humiliation for the company.

None of the Warner brothers were able to attend: Sam Warner-among them, the strongest advocate for Vitaphone-had died the previous day of pneumonia, and the surviving brothers had returned to California for his funeral.

According to Doris Warner, who was in attendance, about halfway through the film she began to feel that something exceptional was taking place. Jolson’s “Wait a minute” line had prompted a loud, positive response from the audience. Applause followed each of his songs. Excitement built, and when Jolson and Eugenie Besserer began their dialogue scene, “the audience became hysterical.”  After the show, the audience turned into a “milling, battling, mob”, in one journalist’s description, chanting “Jolson, Jolson, Jolson!” Among those who reviewed the film, the critic who foresaw most clearly what it presaged for the future of cinema was Life magazine’s Robert Sherwood. He described the spoken dialogue scene between Jolson and Besserer as “fraught with tremendous significance…. I for one suddenly realized that the end of the silent drama is in sight”.

Critical reaction was generally, though far from universally, positive. New York Times critic Mordaunt Hall, reviewing the film’s premiere, declared that

   

not since the first presentation of Vitaphone features, more than a year ago [i.e., Don Juan], has anything like the ovation been heard in a motion-picture theatre…. The Vitaphoned songs and some dialogue have been introduced most adroitly. This in itself is an ambitious move, for in the expression of song the Vitaphone vitalizes the production enormously. The dialogue is not so effective, for it does not always catch the nuances of speech or inflections of the voice so that one is not aware of the mechanical features.

Variety called it “[u]ndoubtedly the best thing Vitaphone has ever put on the screen…[with] abundant power and appeal.” Richard Watts, Jr. of the New York Herald Tribune called it a “a pleasantly sentimental orgy dealing with a struggle between religion and art…. [T]his is not essentially a motion picture, but rather a chance to capture for comparative immortality the sight and sound of a great performer.” The Exhibitors Herald’s take was virtually identical: “scarcely a motion picture. It should be more properly labeled an enlarged Vitaphone record of Al Jolson in half a dozen songs.” The film received favorable reviews in both the Jewish press and in African American newspapers such as the Baltimore Afro-American, the New York Amsterdam News, and the Pittsburgh Courier. The headline of the Los Angeles Times review told a somewhat different story: “‘Jazz Singer’ Scores a Hit-Vitaphone and Al Jolson Responsible, Picture Itself Second Rate.” Photoplay dismissed Jolson as “no movie actor. Without his Broadway reputation he wouldn’t rate as a minor player.”

 105 BC – Battle of Arausio: The Cimbri inflict the heaviest defeat on the Roman army of Gnaeus Mallius Maximus.

69 BC – Battle of Tigranocerta: Forces of the Roman Republic defeat the army of the Kingdom of Armenia led by King Tigranes the Great.

68 BC – Battle of Artaxata: Lucullus averts the bad omen of this day by defeating Tigranes the Great of Armenia.

1582 – Because of the implementation of the Gregorian calendar, this day is skipped in Italy, Poland, Portugal and Spain.

1600 – Jacopo Peri’s Euridice, the earliest surviving opera, receives its premiere performance in Florence, signifying the beginning of the Baroque Period

1683 – William Penn brings 13 German immigrant families to the colony of Pennsylvania, marking the first immigration of German people to America.

1762 – Seven Years’ War: conclusion of the Battle of Manila between Britain and Spain, which resulted in the British occupation of Manila for the rest of the war.

1789 – French Revolution: Louis XVI returns to Paris from Versailles after being confronted by the Parisian women on 5 October

1849 – The execution of the 13 Martyrs of Arad after the Hungarian war of independence.

1854 – The Great fire of Newcastle and Gateshead starts shortly after midnight, leading to 53 deaths and hundreds injured.

1884 – The Naval War College of the United States Navy is founded in Newport, Rhode Island.

1889 – Thomas Edison shows his first motion picture.

1903 – The High Court of Australia sits for the first time.

1906 – The Majlis of Iran convene for the first time.

1908 – Austria annexes Bosnia and Herzegovina.

1923 – The great powers of World War I withdraw from Istanbul

1927 – Opening of The Jazz Singer, the first prominent talking movie.

1928 – Chiang Kai-Shek becomes Chairman of the Republic of China.

1939 – World War II: The last Polish army is defeated.

1945 – Baseball: Billy Sianis and his pet billy goat are ejected from Wrigley Field during Game 4 of the 1945 World Series (see Curse of the Billy Goat).

1973 – Egypt launches a coordinated attack against Israel to reclaim land lost in the Six Day War. The Ramadan War Yom Kippur War starts at 2:05 pm that day.

1976 – Cubana Flight 455 crashes into the Atlantic Ocean shortly after taking off from Bridgetown, Barbados after two bombs, placed on board by terrorists with connections to the CIA, exploded. All 73 people on-board are killed.

1976 – New Premier Hua Guofeng orders the arrest of the Gang of Four and associates and ends the Cultural Revolution in the People’s Republic of China.

1976 – Massacre of students gathering at Thammasat University in Bangkok, Thailand to protest the return of ex-dictator Thanom, by a coalition of right-wing paramilitary and government forces, triggering the return of the military to government.

1977 – In Alicante, Spain, fascists attack a group of MCPV militants and sympathizers, and one MCPV sympathizer is killed.

   * 1977 – The first prototype of the MiG-29, designated 9-01, makes its maiden flight.

1979 – Pope John Paul II becomes the first pontiff to visit the White House.

1981 – President of Egypt, Anwar al-Sadat is assassinated.

1985 – PC Keith Blakelock is murdered as riots erupt in the Broadwater Farm suburb of London.

1987 – Fiji becomes a republic.

1995 – 51 Pegasi is discovered to be the first major star apart from the Sun to have a planet (and extrasolar planet) orbiting around it.

2000 – Yugoslav president Slobodan Milosevic resigns.

2000 – Argentine vice president Carlos Alvarez resigns.

2002 – The French oil tanker Limburg is bombed off Yemen.

2007 – Jason Lewis completes the first human-powered circumnavigation of the globe.

Prime Time

Well, last I remember Cylon Zoe was tearing apart a transport van in an acid trip remake of Short Circuit.  I’m still not sure how I feel about Caprica even after an entire season because of the ultimate failure of Galactica (and please, what a frakking cop out it was).  The only admirable characters are the Adamas and it’s kind of like rooting for the Corleones (not that I don’t root for the Corleones).  Stargate Universe is more of the same only now we have Lucian Alliance characters to wear red shirts and ignore.  And what was the point of the fantasy alien baby kidnapping sequence?  To make us feel better?  Babies die all the time, they can’t help themselves.  I don’t know why it was part of the plot in the first place.

I think sometimes writers don’t have a clue and just make stuff up for shock value and then try to dig themselves out of a hole.

A night of broadcast premiers none of which are remotely worth watching.

Later-

Dave hosts Tony Blair, Mavis Staples, and Jeff Tweedy.  Jon has Bruce Willis (unwatchable), Stephen Leon Botstein.  No Alton.

BoondocksGranddad’s Fight

Tony Blair-

  • Liar
  • Murderer
  • War Criminal

May he end his long, long life of suffering locked in a dank cell at Spandau, despised and forgotten.

Evening Edition

Evening Edition is an Open Thread

From Yahoo News Top Stories

1 French rogue trader Kerviel jailed, fined billions

by Annie Thomas, AFP

38 mins ago

PARIS (AFP) – A Paris court on Tuesday sentenced rogue trader Jerome Kerviel to three years in jail and ordered the 33-year-old to pay back the five billion euros that his market gambles cost Societe Generale bank.

The judge said the trader’s acts had “damaged the world economic order” and found him guilty of breach of trust, forgery and entering false data into computers at Societe Generale, of one of Europe’s biggest banks.

Kerviel looked shaken as the sentence was announced. Dressed in a dark suit and white shirt, he dodged hordes of journalists as he walked away from the courtroom to await further procedures that will decide when he enters custody.

2 Wonder carbon pioneers win Nobel Physics Prize

by Rita Devlin Marier, AFP

Tue Oct 5, 12:33 pm ET

STOCKHOLM (AFP) – Two Russian-born scientists, Andre Geim and Konstantin Novoselov, won the 2010 Nobel Physics Prize Tuesday for pioneering work on graphene, touted as the wonder material of the 21st century.

Both laureates began their careers as physicists in Russia but now work at the University of Manchester in Britain. Geim holds Dutch nationality and Novoselov is both a British and Russian national.

The Royal Swedish Academy of Sciences hailed graphene, a form of carbon isolated only six years ago, for its glittering potential in computers, home gadgets and transport.

3 Europe pressures China as currency war bites

by Roddy Thomson, AFP

2 hrs 15 mins ago

BRUSSELS (AFP) – Europe pressured China Tuesday to let the yuan rise as fears grew of a global “currency war” while a French call for a new, more stable world monetary order received short shrift from Germany.

A trio of top eurozone officials urged Chinese Premier Wen Jiabao to live up to a June vow to make the yuan more flexible to counter accusations Beijing deliberately undervalues its currency so as to boost exports and growth.

The call came as a two-day Asia-Europe Meeting (ASEM) gathering 46 nations wound up with a consensus for more effective global economic governance.

4 Organisers defend Games as Australia, India shine

by Martin Parry, AFP

2 hrs 35 mins ago

NEW DELHI (AFP) – Commonwealth Games organisers defended the Delhi showpiece and insisted Tuesday that empty stadiums would fill up as Australia and India took a stranglehold on the medals table.

Glitches continue to haunt the event for nations and territories of the former British Empire, with row after row of empty seats a major concern.

Embattled organising committee chief Suresh Kalmadi blamed the lack of spectators on ticket booths not being set up outside stadiums, and said the blunder had been fixed.

5 Bosnia divided on key vote

by Katarina Subasic, AFP

Mon Oct 4, 10:56 am ET

SARAJEVO (AFP) – Bosnia’s election results showed moderates gaining ground in the central government, but hardliners remained entrenched in the Serb entity, casting a shadow Monday over the country’s European future.

Moderate Bakir Izetbegovic was set to secure the main Muslim seat in Bosnia’s tripartite presidency after Sunday’s vote, according to partial results.

The Serbs meanwhile re-elected hardline Bosnian Serb nationalist Nebojsa Radmanovic, who has advocated secession of the Serb-run Republika Srpska.

6 Global marine life census charts vast world beneath the seas

by Beatrice Debut, AFP

Mon Oct 4, 5:50 pm ET

LONDON (AFP) – Results of the first ever global marine life census were unveiled Monday, revealing a startling overview after a decade-long trawl through the murky depths.

The Census of Marine Life estimated there are more than one million species in the oceans, with at least three-quarters of them yet to be discovered.

The 650-million-dollar (470-million-euro) international study discovered more than 6,000 potentially new species, and found some species considered rare were actually common.

7 Europe triumph in thrilling Ryder Cup finale

by Rob Woollard, AFP

Mon Oct 4, 7:33 pm ET

NEWPORT, Wales (AFP) – Europe defeated the United States to win the Ryder Cup here on Monday, prevailing in a thrilling contest to finally overcome a gutsy American fightback.

US Open champion Graeme McDowell was the hero for the Europeans, holding his nerve to close out a three and one victory over world number 16 Hunter Mahan amid joyous scenes at Celtic Manor.

The victory avenged Europe’s defeat to the Americans at Valhalla two years ago and was witnessed by an estimated 35,000 fans, who turned out in droves to see the first Monday finish in the history of the competition.

8 Summer comes to Paris with Ungaro garden party

by Emma Charlton, AFP

Mon Oct 4, 5:56 pm ET

PARIS (AFP) – Summer came to town on Monday as Emanuel Ungaro’s new British designer threw a garden party in Paris, showcasing a high-society look that was all flowers, glitter and delicate lacework.

Giles Deacon skipped the catwalk in favour of a live display, with models sipping champagne around a montage of flower-covered old cars — Beetles and a yellow camper van — with giant butterflies poking out the top.

A whiff of the 1920s filled the vast glass venue, as models showed off black cocktail dresses of see-thru lace embroidery, with dangling crystal earrings and hair in a single rolled plait over the forehead.

9 US pledges 4 billion dollars to fight AIDS, other diseases

AFP

2 hrs 59 mins ago

WASHINGTON (AFP) – US President Barack Obama’s administration on Tuesday pledged what it said was a record four billion dollars over three years to a global fund devoted to fighting AIDS, malaria and tuberculosis.

But Health GAP, a non-government organization, immediately expressed “profound disappointment” with the pledge, saying it fell two billion dollars short of what Democratic supporters in Congress were asking for.

The announcement was made in New York as more than 40 donor countries, private foundations, and corporations met to replenish the resources of the Global Fund to Fight AIDS, Tuberculosis and Malaria for 2011 through 2013.

10 Leaders of China, Japan ease rift in chance summit encounter

AFP

Tue Oct 5, 12:34 pm ET

BRUSSELS (AFP) – Leaders of China and Japan, locked in the fiercest bilateral dispute in years, mended fences at a chance post-dinner Brussels encounter, a first step to restoring ties between the Asian powers.

Asked Tuesday whether the encounter was arranged by a third party, Japanese government press secretary Satoru Sato said in the EU capital that the meeting “happened suddenly” and “naturally.”

The evening meeting between Japan’s Prime Minister Naoto Kan and Chinese Premier Wen Jiabao at an Asia-Europe summit Monday broke the ice after an almost month-long territorial row over islands in the East China Sea.

11 Car bomb explodes outside N. Ireland shopping centre

by Eamonn Mallie, AFP

Tue Oct 5, 3:41 am ET

BELFAST (AFP) – A car bomb exploded Tuesday outside a shopping centre in Northern Ireland, causing substantial damage but no injuries, police said, amid an upsurge in violence in the province.

The blast occurred just after midnight outside a bank in Londonderry and follows a string of recent attacks blamed on dissident republicans seeking to undermine hard-won peace in the British province.

“Shortly after midnight (2300 GMT) a device in a Corsa car exploded outside a bank at the rear of the DaVinci retail complex” in the city, said a spokesman from the Police Service of Northern Ireland.

12 Ex-trader Kerviel sentenced to 3 years in jail

By Lionel Laurent, Reuters

14 mins ago

PARIS (Reuters) – Former Societe Generale trader Jerome Kerviel was sentenced to three years in jail by a Paris court on Tuesday for his role in a trading scandal and ordered to pay the French bank 4.9 billion euros ($6.8 billion).

The verdict came as a victory for SocGen, which always maintained Kerviel acted alone and without the sanction of his managers at the bank. It had sought payment of damages for the money it lost unwinding the trader’s risky market bets in 2008.

Kerviel’s lawyer said he would immediately appeal the verdict, which he said was “senseless” and cleared the bank of all blame.

13 Ford to cut dealers in Lincoln revamp

By Bernie Woodall, Reuters

11 mins ago

DEARBORN, Michigan (Reuters) – Ford Motor Co has told its U.S. dealers it expects to drop about 175 Lincoln dealerships in and around urban markets as part of a plan to overhaul the brand with a new look and high-end stores.

Ford executives, who met on Monday and Tuesday with Lincoln dealers at Ford headquarters, said the No. 2 U.S. automaker plans to remake Lincoln by differentiating it more sharply from its mass-market Ford vehicles.

As part of that effort, Ford will focus on the top 130 U.S. metro areas by population, where it has about 500 Lincoln dealerships now, executives said.

14 Special report: The Pentagon’s new cyber warriors

By Jim Wolf, Reuters

Tue Oct 5, 11:44 am ET

WASHINGTON (Reuters) – Guarding water wells and granaries from enemy raids is as old as war itself. In the Middle Ages, vital resources were hoarded behind castle walls, protected by moats, drawbridges and knights with double-edged swords.

Today, U.S. national security planners are proposing that the 21st century’s critical infrastructure — power grids, communications, water utilities, financial networks — be similarly shielded from cyber marauders and other foes.

The ramparts would be virtual, their perimeters policed by the Pentagon and backed by digital weapons capable of circling the globe in milliseconds to knock out targets.

15 Duo wins 2010 physics Nobel for super-thin carbon

By Niklas Pollard and Adam Cox, Reuters

Tue Oct 5, 12:09 pm ET

STOCKHOLM (Reuters) – Two Russian-born scientists shared the 2010 Nobel Prize for physics for showing how carbon just one atom thick behaved, a discovery with profound implications from quantum physics to consumer electronics.

Andre Geim and Konstantin Novoselov of the University of Manchester in England conducted experiments with graphene. One hundred times stronger than steel, it is a new form of carbon that is both the thinnest and toughest material known.

“Since it is practically transparent and a good conductor, graphene is suitable for producing transparent touch screens, light panels and maybe even solar cells,” the committee said.

16 France holds 12 in Europe anti-terrorism operation

By Brian Love, Reuters

Tue Oct 5, 11:18 am ET

PARIS (Reuters) – French police arrested 12 people on Tuesday in early morning swoops the interior minister said were directly linked to a campaign to counter an elevated terrorism threat in Europe.

France is on high alert after seven hostages, including five French citizens, were kidnapped by the North African wing of al Qaeda last month, and approval by the Senate of a bill to ban full-face veils. The hostages are still being held.

The U.S. State Department on Sunday issued a warning to Americans to exercise caution while in Europe. Also on Sunday, Britain raised its terrorism threat level to high from general for those traveling to Germany and France.

17 Financial stability set back by debt woes: IMF

By David Lawder, Reuters

Tue Oct 5, 12:30 pm ET

WASHINGTON (Reuters) – Sovereign debt risk in Europe and continued real estate woes in the United States have dealt a setback to global financial stability in the past six months, the International Monetary Fund said on Tuesday.

The IMF said risks to the financial sector could be reduced if legacy problem assets were cleaned up, if governments improved their fiscal positions and if more clarity were provided on global financial regulation.

“The global financial system is still in a period of significant uncertainty and remains the Achilles’ heel of the economic recovery,” the IMF said in its semi-annual Global Financial Stability Report.

18 U.S. sues AmEx, Visa, MasterCard, latter two settle

By Maria Aspan and Diane Bartz, Reuters

Tue Oct 5, 7:59 am ET

WASHINGTON/NEW YORK (Reuters) – The Justice Department sued American Express Co, Visa Inc and MasterCard Inc on Monday, accusing them of violating antitrust laws and citing rules that prevented merchants from encouraging consumers to use cheaper credit cards.

Simultaneously, the Justice Department settled with Visa and MasterCard, which agreed to allow merchants to offer discounts to consumers who use less expensive types of credit or debit cards. The companies said the settlement, subject to court approval, did not involve any payment.

The lawsuit has the potential to cut into a significant source of profits for American Express and threatens to reshape the competitive landscape of the card processing business.

19 BOJ reverts to zero rates, pledges to buy more assets

By Rie Ishiguro and Leika Kihara, Reuters

Tue Oct 5, 10:02 am ET

TOKYO (Reuters) – The Bank of Japan on Tuesday pledged to pump more funds into the struggling economy and keep rates virtually at zero, surprising markets and stealing a march on the Federal Reserve in providing a fresh dose of economic stimulus.

The yen initially fell in reaction to the BOJ news, but later reversed course to be firmer against the dollar than when the BOJ news broke.

For months, the central bank had eschewed government calls for more decisive action, such as buying more government bonds, focusing instead on a limited funding scheme.

20 Bank bailout supporters struggling for re-election

By TOM RAUM, Associated Press Writer

1 min ago

WASHINGTON – The government’s giant bank bailout may well have averted a second Great Depression, economists say, but a lot of voters aren’t buying it. Support for the program is turning into a kiss of death for many in Congress.

Longtime Republican lawmakers – tarred by their votes for the emergency aid to banks, insurance and auto companies – have been sent packing in primaries. Fresh political attack ads are lambasting candidates from both parties for supporting the $700 billion package that Republican President George W. Bush pushed through Congress at the height of the financial crisis in October 2008.

The actual cost to taxpayers will be far less than the original price tag, perhaps totaling $50 billion or less. But it’s been difficult for lawmakers to make the case that they saved the nation from possible financial ruin – as some economists suggest. It’s far easier for opponents, especially in political soundbites, to portray the issue as Wall Street fat cats against ordinary Main Street folks in the final-weeks cacophony of the campaign.

21 Nevada Tea Party chairman quits after tape flap

By MICHAEL R. BLOOD and CRISTINA SILVA, Associated Press Writers

51 mins ago

LAS VEGAS – The chairman of the Tea Party of Nevada resigned Tuesday after a recording was made public capturing Republican Sharron Angle badmouthing GOP leaders during a meeting with the shadowy group’s U.S. Senate candidate.

The exit of chairman Syd James is another blow to the candidacy of Tea Party of Nevada nominee Scott Ashjian, who has been denounced by state tea party leaders who say he has no connection to the movement that advocates limited government and tightfisted public spending.

In a statement, James said he was endorsing Angle, whose uneasy relations with national Republicans were laid bare in the tape, which Ashjian recorded secretly and later released to the Las Vegas Sun newspaper.

22 Hungary sludge flood called ‘ecological disaster’

By BELA SZANDELSZKY, Associated Press Writer

9 mins ago

DEVECSER, Hungary – Hungary declared a state of emergency in three counties Tuesday after a flood of toxic red sludge from an alumina plant engulfed several towns and burned people through their clothes. One official called it “an ecological disaster” that may threaten the Danube and other key rivers.

The toll rose to four dead, six missing and at least 120 people injured after a reservoir failed Monday at the Ajkai Timfoldgyar plant in Ajka, a town 100 miles (160 kilometers) southwest of Budapest, the capital.

Several hundred tons of plaster were being poured into the Marcal River to bind the toxic sludge and prevent it from flowing on, the National Disaster Management Directorate said.

23 Women testify about sex with HIV-positive airman

By ROXANA HEGEMAN, Associated Press Writer

53 mins ago

WICHITA, Kan. – Two women testified at a military hearing Tuesday that they would not have had sex with an airman had they known he was HIV positive, and one said she believed him when he said he wasn’t because he was in the Air Force.

Tech Sgt. David Gutierrez has been charged with violating military law by having unprotected sex with at least 11 people without telling them he was infected.

The two women who testified Tuesday detailed numerous encounters where they had unprotected sex with Gutierrez, including at several so-called swinger parties in the Wichita area. Some of their sexual encounters were videotaped by the 43-year-old airman’s wife, they said.

24 Undocumented language found hidden in India

By RANDOLPH E. SCHMID, AP Science Writer

53 mins ago

WASHINGTON – A “hidden” language spoken by only about 1,000 people has been discovered in the remote northeast corner of India by researchers who at first thought they were documenting a dialect of the Aka culture, a tribal community that subsists on farming and hunting.

They found an entirely different vocabulary and linguistic structure.

Even the speakers of the tongue, called Koro, did not realize they had a distinct language, linguist K. David Harrison said Tuesday.

25 Half of baseball’s playoff team watch wallets

By RONALD BLUM, AP Sports Writer

31 mins ago

NEW YORK – It’s not just the usual suspects in the playoffs this year.

Texas, ranked 23rd according to Major League Baseball’s latest payroll figures, won the AL West. Tampa Bay, just 20th, beat out the high-spending New York Yankees and Boston to win the AL East.

Cincinnati won the NL Central and is going to the postseason for the first time since 1995 despite ranking 19th. No. 16 Atlanta won the NL wild card.

26 Ex-French trader must pay $6.7 billion for fraud

By GREG KELLER, AP Business Writer

52 mins ago

PARIS – Ex-trader Jerome Kerviel was convicted on all counts Tuesday in history’s biggest rogue trading scandal, sentenced to at least three years in prison and ordered to pay his former employer damages of euro4.9 billion ($6.7 billion) – a sum so staggering it drew gasps in the courtroom.

The court rejected defense arguments that the 33-year-old trader was a scapegoat for a financial system gone haywire with greed and the pursuit of profit at any cost – a decision sure to take some pressure off the beleaguered banking system overall.

By ordering a tough sentence for a lone trader, the ruling marked a startling departure from the general atmosphere of hostility and suspicion about big banks in an era of financial turmoil. It was a huge victory for Kerviel’s former employer Societe Generale SA, France’s second-biggest bank, which long had a reputation for cutting-edge financial engineering and has put in place tougher risk controls since the scandal broke in 2008.

27 Euro terror alert spotlights voiceprint technology

By RAPHAEL G. SATTER, Associated Press Writer

Tue Oct 5, 2:07 pm ET

LONDON – Did their voices betray them? The discovery of an alleged terror plot against Europe owes at least some of its success to “voiceprint” technology that allows law enforcement to electronically match a voice to its owner.

The technique – which some compare to fingerprinting – can be a powerful anti-terror tool, officials increasingly believe. Law enforcement agencies are already considering how a voice database could help thwart future plots.

The reported plot against European cities, in which suspects allegedly spoke of a Mumbai-style shooting spree, has triggered travel warnings and refocused attention on al-Qaida activities on the Pakistan-Afghanistan border, where several of the voices were recorded.

28 Nobel Prize honors super-strong, super-thin carbon

By MALCOLM RITTER and KARL RITTER, Associated Press Writers

10 mins ago

NEW YORK – It is the thinnest and strongest material known to mankind – no thicker than a single atom and 100 times tougher than steel. Could graphene be the next plastic? Maybe so, says one of two scientists who won a Nobel Prize on Tuesday for isolating and studying it.

Faster computers, lighter airplanes, transparent touch screens – the list of potential uses runs on. Some scientists say we can’t even imagine what kinds of products might be possible with the substance, which hides in ordinary pencil lead and first was extracted using a piece of Scotch tape.

Two Russian-born researchers shared the physics Nobel for their groundbreaking experiments with graphene, which is a sheet of carbon atoms joined together in a pattern that resembles chicken wire.

29 Here comes the sun: White House to go solar

By DINA CAPPIELLO, Associated Press Writer

Tue Oct 5, 12:15 pm ET

WASHINGTON – Solar power is coming to President Barack Obama’s house.

The most famous residence in America, which has already boosted its green credentials by planting a garden, plans to install solar panels atop the White House’s living quarters. The solar panels are to be installed by spring 2011, and will heat water for the first family and supply some electricity.

Energy Secretary Steven Chu announced the plans Tuesday in Washington at a conference of local, state, academic and nonprofit leaders aimed at identifying how the federal government can improve its environmental performance.

30 Big-name companies to help colleges train workers

By ERIC GORSKI, AP Education Writer

Tue Oct 5, 6:31 am ET

As the White House stages a first-of-its-kind community college summit Tuesday, the Obama administration is proposing that stronger partnerships between two-year public colleges and big-name U.S. employers such as McDonald’s and The Gap will help better match workers with jobs during the economic recovery and beyond.

Community college officials welcomed the new initiative, “Skills for America’s Future.”

But it’s unclear whether the project will help meet Obama’s education goals. Community colleges are short of cash, jammed with laid-off workers and students who in better times would attend four-year schools and spending heavily on remedial education for students ill-prepared for college.

31 Chile president sees miners rescued before Oct. 15

By VIVIAN SEQUERA, Associated Press Writer

Tue Oct 5, 6:30 am ET

SAN JOSE MINE, Chile – Chile’s president said Monday that his government is “very close” to pulling 33 trapped miners to safety and he hopes to be there in person to see the rescue before leaving on a trip to Europe.

It was Sebastian Pinera who told the miners after they were found alive Aug. 22 that they would be saved by Christmas, and his government has assembled a team of hundreds to support them while three simultaneous drilling operations pound escape shafts through a half-mile of rock.

The drilling has gone well enough to move up the date since then, but rescue leaders have been cautious: Only last week, they estimated a late-October pullout.

32 Richardson’s shadow looms in hard-fought NM race

By BARRY MASSEY, Associated Press Writer

Tue Oct 5, 6:31 am ET

ALBUQUERQUE, N.M. – In a historic race where New Mexico will elect its first female governor, the outcome could hinge on voter discontent with a man not even on the ballot: Gov. Bill Richardson.

The governor’s popularity has plunged amid corruption investigations as he nears the end of his second term, and his presence looms large in the race between Republican Susana Martinez and Democratic Lt. Gov. Diane Denish.

Martinez frequently mentions Richardson in campaign appearances, and her TV ads feature pictures of Denish alongside Richardson. Denish has attempted to distance herself from Richardson even though she’s his lieutenant governor.

33 Thai court clears way for Viktor Bout extradition

By KINAN SUCHAOVANICH, Associated Press Writer

2 hrs 59 mins ago

BANGKOK – An alleged Russian arms smuggler dubbed “The Merchant of Death” was led off by masked commandos after a Thai court Tuesday removed a key legal obstacle to his U.S. extradition, which has landed Thailand in the midst of a diplomatic tussle between Washington and Moscow.

Viktor Bout, who allegedly supplied weapons that fueled civil wars in South America, the Middle East and Africa, has been fighting extradition since his March 2008 arrest in Bangkok as part of a U.S.-led sting operation.

The Bangkok Criminal Court on Tuesday dismissed a new trial against Bout, which had threatened to stall the extradition further. It was the latest phase – and a potential turning point – in a long-running legal battle. Both Washington and Moscow have been demanding Bout’s hand-over.

34 DA: Judge should recuse self in Texas arson case

By JEFF CARLTON, Associated Press Writer

6 mins ago

DALLAS – The district attorney whose office prosecuted a Texas man who was executed for setting fire to his home and killing his three daughters asked a judge to recuse himself from a hearing that could declare the executed man innocent.

Navarro County District Attorney R. Lowell Thompson filed a motion in state district court in Austin late Monday asking that Judge Charlie Baird recuse himself from Wednesday’s hearing in the case of Cameron Todd Willingham.

Baird, as a former member of the court of Criminal Appeals, already heard details of the case and voted to uphold Willingham’s conviction, according to the motion. Thompson also questioned whether Baird is impartial, noting he won a “Courage Award” this year from the Texas Coalition to Abolish the Death Penalty.

35 Black community looks for Chicago mayor candidate

By TAMMY WEBBER, Associated Press Writer

36 mins ago

CHICAGO – Black ministers, politicians and business leaders are scrambling to unify their community behind one candidate in Chicago’s wide-open mayoral race, which already features a former White House chief of staff, as many as four congressmen and a sheriff among those preparing to run.

So many potential candidates have surfaced – at least a dozen in the black community alone – that many fear the black vote could be widely split, ruining a chance to exercise the kind of influence that helped elect Chicago’s first black mayor, Harold Washington, in 1983.

Among other considerations is whether Rahm Emanuel, praised by President Barack Obama even as he left the administration last week to run, will win support from black voters in Obama’s hometown.

36 Most 9/11 responders OK settlement resolving suit

By DAVID B. CARUSO, Associated Press Writer

49 mins ago

NEW YORK – A lawyer representing 10,000 ground zero workers suing New York City over their exposure to World Trade Center dust said Tuesday that 75 percent have signed a settlement resolving their claims and most of the rest have indicated they will do so.

Those figures suggest the city may be close to resolving a painful legal battle with construction workers, police officers and firefighters who developed respiratory problems and other illnesses after working in the sooty ruins after Sept. 11, 2001.

The settlement, worth as much as $713 million, requires that 95 percent of the plaintiffs sign on by Nov. 8.

37 Emanuel hits Chicago streets, makes case for mayor

By LINDSEY TANNER, Associated Press Writer

Tue Oct 5, 3:13 am ET

CHICAGO – Last week, Afghanistan. This week, parents protesting the proposed demolition of a park field house.

Former White House chief of staff Rahm Emanuel hit the campaign trail on Monday and got a sudden taste of the vastly different agenda he’d face as Chicago’s mayor – and the hurdles he must overcome to be elected.

A day after unveiling his campaign on a new website, Emanuel hit the streets vowing to “hear from Chicagoans – in blunt and honest terms” about what they want from their next mayor. Many were happy just to shake hands, exchange hugs, or drink coffee with President Barack Obama’s hard-charging former right hand man.

38 Corruption-riddled city cancels council meeting

By JOHN ROGERS, Associated Press Writer

Tue Oct 5, 3:13 am ET

BELL, Calif. – It was the first regularly scheduled City Council meeting in the corruption-riddled Los Angeles suburb of Bell since eight current and former city officials were charged with looting city funds – but it didn’t happen.

The Monday night meeting was canceled when four council members facing criminal charges didn’t show up.

“Due to the lack of a quorum, we won’t be able to have our regular meeting today,” Lorenzo Velez, the only councilman not facing criminal charges, told more than 200 people who’d come to the meeting.

39 2 arrested in anti-gay beating at famed NY gay bar

By JENNIFER PELTZ, Associated Press Writer

Mon Oct 4, 10:49 pm ET

NEW YORK – A patron at the Stonewall Inn, a powerful symbol of the gay rights movement since protests over a 1969 police raid there, was tackled to the floor and beaten in an anti-gay bias attack over the weekend, authorities said Monday.

Two men were arrested in the early Sunday beating, which came little more than a day after a group of male friends bidding an affectionate good night to each other were attacked in another anti-gay assault elsewhere in Manhattan, prosecutors said.

The attacks came amid heightened attention to anti-gay bullying following a string of suicides attributed to it last month, including a New Jersey college student’s Sept. 22 plunge off the George Washington Bridge after his sexual encounter with a man in his dorm room was secretly streamed online.

40 Casino owners, senators charged in Ala bingo probe

By PHILLIP RAWLS, Associated Press Writer

Mon Oct 4, 9:09 pm ET

MONTGOMERY, Ala. – After the governor began raiding the state’s electronic bingo halls, casino owners sent lobbyists to the Capitol with orders to make their Vegas-style parlors legal. Part of the plan, federal authorities said Monday, was to offer lawmakers millions of dollars in bribes.

The Justice Department unveiled an indictment accusing the owners of two of Alabama’s largest casinos, four state senators and several lobbyists of a scheme to buy and sell votes in the Legislature. One defendant has pleaded guilty to offering a senator $2 million to vote for a bill to keep the bingo machines operating.

Since Republican Gov. Bob Riley began his raids nearly two years ago, the issue has set off angry statehouse rallies and complaints by local officials that casino closures cost poor counties much-needed jobs. Against this backdrop and with the pro-gambling bill on the verge of passage, the Justice Department announced last spring that it was looking into corruption at the statehouse.

41 Foreign buyers see big opportunity in housing bust

By MICHELLE CONLIN, AP Real Estate Writer

Mon Oct 4, 5:37 pm ET

The Viceroy, a swanky condominium complex in downtown Miami, gives the impression that the United States is in another real estate boom. The sales office is strangely exuberant. Buyers gush about the glam condos – designed by hipster tastemaker Kelly Wearstler – and their hotel-like amenities: poolside libations, daily housekeeping and room service food stirred up by a celebrity chef.

Since January, 262 of the Viceroy’s 372 units have sold. But there’s a twist: Almost 90 percent of the buyers are foreigners. And they all paid cash.

The Viceroy’s story is playing out across Miami. Individual investors from as far as Argentina, Canada, Colombia, France, Israel, Italy, Norway and Venezuela are swarming the city’s sales offices to get in on what they see as one of the greatest real estate fire sales in the history of the United States.

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: Wall Street’s Global Race to the Bottom

Wonder what’s happening with bank reform? Watch your wallets.

Having created giant loopholes in the Dodd-Frank law recently passed by Congress (keeping “customized” derivatives underground, for example), fighting off attempts to cap the size of the biggest banks, and keeping capital requirements relatively modest, Wall Street is now busily whittling back the rest through regulations.

Squadrons of lawyers and lobbyists are now pressing the Treasury, Comptroller of the Currency, SEC, and the Fed to go even easier on the Street.

Their main argument is if regulations are too tight, the big banks will be less competitive internationally. Translated: They’ll move more of their business to London and Frankfurt, where regulations will be looser.

Eugene Robinson Midterm campaigns, brought to you by . . . ?

The Republican grab for Congress is being funded by a pack of wolves masquerading as a herd of sheep.

How sweet and innocent they seem, these mysterious organizations with names like Americans for Job Security. Who could argue with that? Who wants job insecurity?

It turns out, according to The Post, that an entity called Americans for Job Security has made nearly $7.5 million in “independent” campaign expenditures this year, with 88 percent going to support Republican candidates. Who’s putting up all that money? You’ll never know, because Americans for Job Security — which calls itself a “business association” — doesn’t have to disclose the source of its funding.

Likewise, the American Future Fund has spent $6.8 million on campaigns this year, with every penny of that money benefiting Republicans. The patriotically named group — and, really, who doesn’t want America to have a future? — is based in Iowa and has never before been a big player in the Great Game of campaign finance. Now, suddenly, it has a king’s ransom to throw around.

The following article is a “must read the whole thing”

Barry Friedman and Dahlia Lithwick: Watch as We Make This Law Disappear

How the Roberts Court disguises its conservatism.

t’s dark and silent. Reporters trickle into the grand ceremonial room from a door on the left; like everyone, they’ve been instructed that no recording devices of any sort are allowed. A clutch of spectators, some of whom have been waiting for hours, enters at the rear. At 10 a.m. on the dot, never earlier and never later, the marshal utters her incantation: “The honorable, the chief justice and the associate justices of the Supreme Court of the United States.” Then they file, from behind the velvet curtain, wearing long black robes; they sit behind a tall dais, sipping water from silver cups. Silent footmen glide back and forth bearing thick books. For the justices, it’s a typical oral argument day, but if you didn’t know better, you’d think you were watching the initiation into Harry Potter’s school for wizards, Hogwarts; or, better yet, the Penn and Teller show at the MGM Grand in Vegas. Magic, mystery, and hush everywhere you look.

The metaphor is more than apt. There’s another, newer, layer of illusion at work at the highest court of the land. Under the stewardship of its boyish chief justice, John Roberts, the court has taken the law for a sharp turn to the ideological right, while at the same time masterfully concealing it. Virtually every empirical study confirms this rightward turn. Yet recent public opinion polls indicate Americans continue to see a bench that is, if anything, a wee bit too liberal.

Joan Walsh: Meg Whitman’s meltdown

The GOP candidate’s hypocrisy is helping to hand the California governor’s office back to Jerry Brown

Like a lot of California Democrats, I’ve been waiting for Jerry Brown to start his campaign for governor. Sure, he began running ads last month — terrible ads, in my opinion, featuring Brown as a talking head, that mostly serve to remind people he was already governor, a long, long time ago, whatever his accomplishments.

I’ve always assumed Brown would win anyway, though, because he’s got one key asset: He’s not Meg Whitman. And during Saturday’s Univision debate, I spotted another Brown asset: He knows how to make a moral and emotional appeal to our sense of justice, that California used to be a better place, and can be one again.

Whoever is behind the sudden emergence of Whitman’s former maid, Nicky Diaz — the woman the former eBay CEO says deceived her about having legal immigration status, going so far as to steal a letter from the federal government notifying Whitman about her illegal status (that turned out not to be true), but whom Whitman fired immediately upon “learning” the truth — it’s a defining story for Whitman, and not in a good way. I am sensitive to all the ways women are held to a different and higher standard than men in politics, and I search for descriptors that capture Whitman that are not somehow stereotypical.

E.J. Dionne, Jr.: Health Care’s Second Wind

Here is another piece of conventional wisdom about this year’s election that is being rendered patently false. It’s been said over and over that no Democrats are running on the health care bill. Actually, more and more of them are proudly campaigning on what the plan has achieved-and they should.

In a fight for his political life in Wisconsin, Sen. Russ Feingold went on the air last week with an advertisement that explicitly defends provisions in the bill and attacks his opponent, Republican Ron Johnson, for wanting to repeal it.

The ad portrays two different Wisconsin citizens telling Johnson: “Hands off my health care.” Their message is that repealing the health care law would, as another voter says, “put insurance companies back in control.”

Feingold’s is one of the more powerful ads about the bill, but the senator is not alone. In an ad that focuses on holding corporations accountable, Rep. Steve Israel of New York touts the bill for stopping insurance companies from denying coverage because of pre-existing conditions. In Nevada, Rep. Dina Titus has a TV ad praising the same provision.

And in his effort to win back a traditionally Democratic congressional seat in New Orleans, state Rep. Cedric Richmond has made incumbent Republican Joseph Cao’s vote against the health care bill a central issue in the campaign.

Paul Loeb: Don’t Let the Russ Feingolds Go Down For the Sins of the Blanche Lincolns

In trying to get one-time Obama supporters to volunteer for the November election, I often hear this refrain: “The Democrats have sold us out. I’m tired of their spinelessness, their subservience to corporate interests. I’m staying home to teach them a lesson.” Not everyone responds this way, but enough do to make me worry, because if these people don’t show up and work to get others to vote, it could make the difference in race after neck-and-neck race, as a similar withdrawal of Democratic volunteers and voters did in 1994. As I’ve written, we either get past our broken hearts to help elect the best possible candidates between now and November, or cede even more power to the most destructive interests in America.

But suppose you simply can’t stomach your local Democratic candidates? Suppose you’re simply too furious at their compromises and retreats? Then make phone calls or donate to those you do respect, but don’t abdicate entirely. Maybe it’s Russ Feingold, narrowly trailing in the latest Wisconsin polls. Or Jack Conway, challenging Rand Paul in Kentucky. Or Barbara Boxer, with the slimmest of leads in California. Or Congressman Alan Grayson, a powerful progressive voice being hammered by outside money in a swing district of Florida. Or anyone else you might choose. But unless you’re as purist as the Republican fundamentalists, I can’t imagine you want to see candidates who’ve stood for strong humane values be defeated by opponents who have nothing but contempt for democracy, justice, and even the barest stewardship of the planet. To shift our country’s direction, we’re going to have to elect and reelect some less than stellar candidates as well, but making sure the best of them win is a critical task.

Dean Baker: Sleazy Xenophobia in Pursuit of Social Security Cuts

When Barry Goldwater ran for president as a genuine conservative back in 1964 he was often labeled as an “extremist.” His campaign responded to this criticism with the slogan: “extremism in the pursuit of liberty is no vice.”

Goldwater’s descendants are swarming the political playing field these days in their efforts to attack Social Security and Medicare. They have no qualms about making assertions that are deceptive and inaccurate. And they are not above appeals to nationalistic/racist sentiments to advance their case. The slogan for the current crew could be “xenophobia in pursuit of Social Security cuts is no vice.”

This xenophobia comes out most directly in their stories that tie the budget deficit to borrowing from foreigners, with China always being mentioned as the big lender to raise fears. This presumably scores well in the fear factor with focus groups, but it has nothing to do with economic reality.

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