Tag: Punting the Pundits

Punting the Pundits: Sunday Preview Edition

Punting the Punditsis an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

The Sunday Talking Heads:

Up with Chris Hayes: Joining Chris at 8 AM ET will be: Bill McKibben (@billmckibben), author of “Eaarth: Making a Life on a Tough New Planet” and founder of 350.org, a global grassroots environmental movement to solve the climate crisis; Eric Klinenberg (@EricKlinenberg), professor of sociology at New York University and author of “Heat Wave: A Social Autopsy of Disaster in Chicago“; Thomas Mann and Norman Ornstein, authors of “It’s Even Worse Than It Looks: How the American Constitutional System Collided with the New Politics of Extremism.” Mann is senior fellow for governance studies and the W. Averell Harriman Chair at the Brookings Institution. Ornstein is a resident scholar at the American Enterprise Institute; Joan Walsh (@joanwalsh), MSNBC political analyst and Salon’s editor-at-large; Esther Armah (@estherarmah), playwright and author, host of “Wake Up Call” on WBAI-FM; and Stephen Moore, Wall Street Journal editorial board senior economics writer, and the former president of the Club for Growth.

The Melissa Harris-Perry Show: Guest list was not announced at this time.

This Week with George Stephanopolis:”Nightline” co-anchor Terry Moran hosts “This Week” Sunday, as Maryland Gov. Martin O’Malley and Louisiana Gov. Bobby Jindal face off in a “This Week” debate on the economy and the 2012 election.

The roundtable debates all the week’s politics, with ABC News’ George Will; Washington Post columnist E.J. Dionne, author of the new book “Our Divided Political Heart: The Battle for the American Idea in an Age of Discontent;” PBS’ “Washington Week” moderator and managing editor Gwen Ifill; former Counselor to the Treasury Secretary and Obama administration Lead Auto Adviser Steven Rattner; and Mort Zuckerman, editor in chief of U.S. News & World Report.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guest are Assistant Majority Leader Sen. Dick Durbin, D-Ill., and former Mississippi Gov. Haley Barbour, former Chairman of the RNC; Historian and author Doris Kearns Goodwin, Sports Illustrated‘s Frank Deford, MLB TV’s Harold Reynolds and ESPN’s Jayson Stark.

The political roundtable guests are CBS News political correspondent Jan Crawford, Chief White House Correspondent Norah O’Donnell and Political Director John Dickerson.

The Chris Matthews Show: This week’s guests are Joe Klein, TIME Columnist: S. E. Cupp, NY Daily News Columnist; Katty Kay, BBC Washington Correspondent; and Howard Fineman, The Huffington Post Senior Political Editor.

Meet the Press with David Gregory: Meet the Press will not air Sunday, July 8 due to NBC Sports coverage of the Tour de France. Instead, join ek hornbeck and I for the Live Blog of Le Tour Stage 8 here at The Stars Hollow Gazette

State of the Union with Candy Crowley: Ms. Crowleys guest this Sunday are Senate Minority Leader Mitch McConnell (R-SC); Obama Campaign Senior Adviser Robert Gibbs; former CBO director Douglas Holtz-Eakin and Mark Zandi, Chief Economist for Moody’s Analytics; and former New Jersey Senator Bill Bradley.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

Joe Nocera: Libor’s Dirty Laundry

Here in the early stages of the Libor scandal – and, yes, this thing is far from over – there are two big surprises.

The first is that the bankers, traders, executives and others involved would so openly and, in some cases, gleefully collude to manipulate this key interest rate for their own benefit. With all the seedy bank behavior that has been exposed since the financial crisis, it’s stunning that there’s still dirty laundry left to be aired. We’ve had predatory subprime lending, fraudulent ratings, excessive risk-taking and even clients being taken advantage of in order to unload toxic mortgages. [..]

Which brings me to the second big surprise. Britain and America have reacted to the Libor scandal in completely different ways. Britain is in an utter frenzy over it, with wall-to-wall coverage, and the most respectable, pro-business publications expressing outrage. Yes, Barclays is a British bank, and the first word in Libor is “London.” But still: The Economist ran a headline about the scandal that read, in its entirety, “Banksters.”

Yet, on these shores, the reaction has been mainly a shrug. Perhaps we’re suffering from bank-scandal fatigue, having lived through Bank of America’s various travails, and the Goldman Sachs revelations, and, most recently, the big JPMorgan Chase trading loss. Or maybe Libor is just hard to gets one’s head around.

New York Times Editorial: The Square Off Over Jobs

There’s no solace in the employment report for June, released Friday. The economy added a paltry 80,000 jobs last month, leaving no doubt that the economy is slowing. In the past three months, the economy averaged 75,000 new jobs a month, compared with 226,000 in the prior three months. The jobless rate in June held steady at 8.2 percent, which is down from the recession peak of 10 percent in October 2009 but still very high.

Who is to blame?

How can it be fixed? [..]

The question then is why the recovery under Mr. Obama has not been stronger. Part of the answer lies beyond the control of any American politician, including the euro zone crisis and, more recently, the slowdown in China. But part is the result of obstructionist Republican politics, including the fiasco in 2011 over raising the debt ceiling, which dented confidence in Congress’s ability to steer the economy.

Richard (RJ) Eskow: Is Obama’s Corporate-Friendly Approach Really “How Liberals Win”?

Recently my friend and colleague Bill Scher challenged progressive critics of President Obama’s conciliatory approach toward corporations with a New York Times op-ed entitled “How Liberals Win.” Far from being “business as usual,” Bill writes, “the Supreme Court’s upholding of Mr. Obama’s health care law reminds us that the president’s approach has achieved significant results.” [..]

Sorry, Bill. I’m with those who have concluded that the Obama White House has failed, both pragmatically and politically, on a number of key progressive issues. In my view, believing otherwise requires an almost ahistorical view of liberalism. We can’t preemptively limit the definition of “liberal victory” to whatever corporate interests will allow.

Wherever the truth lies, the road ahead is clear: We can’t allow the radical right to take power this year. But we need to fight for results, not politicians, by building a mobilized and truly independent citizens’ movement.

Mark Weisbrot: Federal Government Can Restore Full Employment. If Only it Wanted to Do So

Three years after our worst recession since the Great Depression officially ended, the U.S. economy is still very weak.  The people most hurt by this weakness are the unemployed and the poor, and of course the two problems are related. We have about 23 million people who are unemployed, involuntarily working part-time, or have given up looking for work — nearly 15 percent of the labor force.  And poverty has reached 15.1 percent of the population;  amazingly, a level that it was at in the mid-1960s.

The first priority of the U.S. government should therefore be restoring full employment.  This is a relatively easy thing to do.  As Nobel laureate economist Paul Krugman aptly put it: “It’s like having a dead battery in a car, and while there may be a lot wrong with the car, you can get the car going remarkably easily, if you’re willing to accept that’s what the problem really is.”

Most economists are well aware what the problem really is, since it is so simple and basic.  The economy lost about $1.3 trillion in private annual spending when the real estate bubble burst in 2007, and much of that has not recovered. State and local governments continue to tighten their budgets and lay off workers.  If the federal government had simply funded these governments’ shortfalls, we would have another two million jobs today.

Ruslan Pukhov: Why Russia Is Backing Syria

MANY in the West believe that Russia’s support for Syria stems from Moscow’s desire to profit from selling arms to Bashar al-Assad’s government and maintain its naval facility at the Syrian port of Tartus. But these speculations are superficial and misguided. The real reason that Russia is resisting strong international action against the Assad regime is that it fears the spread of Islamic radicalism and the erosion of its superpower status in a world where Western nations are increasingly undertaking unilateral military interventions. [..]

To people in Moscow, Mr. Assad appears not so much as “a bad dictator” but as a secular leader struggling with an uprising of Islamist barbarians. The active support from Saudi Arabia, Qatar and Turkey’s Islamist government for rebels in Syria only heightens suspicions in Russia about the Islamist nature of the current opposition in Syria and rebels throughout the Middle East.

Finally, Russians are angry about the West’s propensity for unilateral interventionism – not to mention the blatantly broad interpretation of the resolutions adopted by the United Nations Security Council and the direct violations of those resolutions in Libya.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

New York Times Editorial: Bank Scandal Deepens

The settlement between government authorities and Barclays over the bank’s attempts to rig benchmark interest rates drew a picture of a bank that was negligent and corrupt at various times and to varying degrees. Unfortunately, as big banks go, that comes as no shock.

It would be a shock if regulators and prosecutors found the resources and willingness to go wherever the rate-rigging scandal leads, even to the upper echelons of the world’s biggest banks and powerful central banks, including the Bank of England and the Federal Reserve.

Paul Krugman: Off and Out With Mitt Romney

In a better America, Mitt Romney would be running for president on the strength of his major achievement as governor of Massachusetts: a health reform that was identical in all important respects to the health reform enacted by President Obama. By the way, the Massachusetts reform is working pretty well and has overwhelming popular support.

In reality, however, Mr. Romney is doing no such thing, bitterly denouncing the Supreme Court for upholding the constitutionality of his own health care plan. His case for becoming president relies, instead, on his claim that, having been a successful businessman, he knows how to create jobs.

This, in turn, means that however much the Romney campaign may wish otherwise, the nature of that business career is fair game. How did Mr. Romney make all that money? Was it in ways suggesting that what was good for Bain Capital, the private equity firm that made him rich, would also be good for America?

And the answer is no.

Robert Sheer: Crime of the Century

Forget Bernie Madoff and Enron’s Ken Lay-they were mere amateurs in financial crime. The current Libor interest rate scandal, involving hundreds of trillions in international derivatives trade, shows how the really big boys play. And these guys will most likely not do the time because their kind rewrites the law before committing the crime.

Modern international bankers form a class of thieves the likes of which the world has never before seen. Or, indeed, imagined. The scandal over Libor-short for London interbank offered rate-has resulted in a huge fine for Barclays Bank and threatens to ensnare some of the world’s top financers. It reveals that behind the world’s financial edifice lies a reeking cesspool of unprecedented corruption. The modern-day robber barons pillage with a destructive abandon totally unfettered by law or conscience and on a scale that is almost impossible to comprehend.

Mark Weisbrot: Mexico’s Election: It’s the Economy Stupid

If ever there were an election pre-ordained as a result of a country’s economic performance, it would be that of Mexico.  The ruling PAN party was destined to lose because it presided over a profound economic failure for more than 11 years.  Almost any government in the world would have lost under such circumstances. [..]

More than half of all Mexicans are living below the official poverty line, but the new government has little to offer the poor majority or even to produce the long-term growth that Mexico once had.  Sadly, Mexico’s economic progress will probably be quite limited until there is a more level playing field for elections.

Bryce Covert: GOP’s Rejection of Medicaid Funds Is One More Ideologically Driven Bad Idea

My emotions after the Supreme Court’s ruling on the Affordable Care Act last week went through various stages: confusion (thanks, CNN), shock and finally sheer joy. It was a complete surprise to have the highest court uphold the entire law, including the individual mandate. Liberals rightly celebrated the ruling as a historic step toward ensuring a better quality of life for all Americans. [..]

It seems foolhardy for governors to reject what is basically free money to help more people in their own states gain health insurance. Josh Barro wrote just after the ruling that while the White House’s stick was taken away, its carrot-the federal government’s picking up 100 percent of the states’ Medicaid expansion tab for the early years, gradually declining to 90 percent after that-would be enough to incite states to participate. And they stand to see other economic benefits. States that already provide coverage and care to people living at 133 percent of the poverty line would no longer shoulder those costs, saving them millions. Even for those that don’t offer such coverage, the bill stands to save all states money by getting rid of the “hidden tax” they pay in higher insurance premiums that account for the cost of covering the uninsured, also potentially saving millions.

Eugene Robinson: The Money Manager

You can conduct byzantine transactions through opaque investment accounts and private corporations in offshore tax havens such as Bermuda and the Cayman Islands. Or you can credibly run for president at a time of great economic distress.

I don’t think you can do both.

Let me be clear that I have nothing against wealth. In fact, I have nothing against great wealth, which is how I would classify Mitt Romney’s estimated $250 million fortune. We can argue about the social utility of private equity firms such as Bain Capital, but Romney isn’t responsible for distorting the system so that financiers are grossly overpaid. He just took advantage of the situation.

Increasingly, however, I have to wonder whether the achievement Romney touts as his biggest asset in running for president-his business success-might be seen by many voters as a liability.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

New York Times Editorial: A Gap in Health Coverage

The Supreme Court decision upholding the constitutionality of health care reform inadvertently opened a hole in health insurance coverage that could harm some of the nation’s poorest citizens. The problem arises from a mismatch between how the law was framed and how the court’s ruling will affect Medicaid, the joint state-federal health program for the poor. [..]

In states that choose not to expand Medicaid, substantial numbers of the very poor could be left out of coverage. The reform law provides tax credits to help people with incomes between 100 percent and 400 percent of the federal poverty level (about $23,000 to $92,000 for a family of four) buy private insurance. But the bill’s drafters made no provision to provide subsidies for anyone below the poverty line because they assumed that those people would be covered by expanded Medicaid.

Tina Rosenberg: In Rwanda, Health Care Coverage That Eludes the U.S.

Last week’s Supreme Court decision upholding of the constitutionality of President Obama’s health care law moves the United States closer to the goal of health coverage for all. All other developed countries have it. But so do some developing nations – Brazil, Thailand, Chile. These countries are mostly middle income. But one country on the list is among the poorest of the poor: Rwanda.

The point is not that Americans should envy Rwanda’s health system – far from it. But Rwanda’s experience illustrates the value of universal health insurance.  “Its health gains in the last decade are among the most dramatic the world has seen in the last 50 years,” said Peter Drobac, the director in Rwanda for the Boston-based Partners in Health, which works extensively with the Rwandan health system.

It couldn’t have happened without health insurance.

Dean Baker: Why Americans Should Work Less – The Way Germans Do

There is a solution to unemployment: if we worked the same shorter hours as Germany, we’d eliminate joblessness overnight

Nobel Laureate Paul Krugman and Richard Layard, a distinguished British economist, took the lead last week in drafting a sign-on “Manifesto for Economic Common Sense“, condemning the turn toward austerity in many countries. This manifesto seems destined to garner tens or even hundreds of thousands of signatures, including mine.

While the basic logic of the manifesto is solid, there is an important aspect to the argument that is overlooked. We can deal with unemployment every bit as effectively by having people work fewer hours, as we can by increasing demand.

The most important point to realize is that the problem facing wealthy countries at the moment is not that we are poor, as the stern proponents of austerity insist. The problem is that we are wealthy. We have tens of millions of people unemployed precisely because we can meet current demand without needing their labor.

Jim Hightower: Supreme Court’s Plutocratic Political Hacks Rule Against the People in Montana

“Two wrongs don’t make a right,” as my old Texas momma used to instruct my brothers and me. But apparently, five of the justices on our Supreme Court didn’t have mommas with such ethical sensibilities – or perhaps they’re just ignoring their mommas’ wisdom now in order to impose their extremist political agenda on you and me.

That agenda became startlingly clear in 2010, when the black-robed cabal of Clarence Thomas, Anthony Kennedy, John Roberts, Antonin Scalia and Sam Alito hung their infamous Citizens United edict around America’s neck. It allowed unlimited sums of corporate cash to spew into our elections, effectively legalizing the wholesale purchase of America’s elected officials. In his majority decision, Supreme joker Kennedy drew from his deep well of political ignorance and judicial arrogance to declare that these gushers of special interest money “do not give rise to corruption or the appearance of corruption.”

Is he on the court – or in a comedy club? Not only were Kennedy and his fellow corporatists wrong on the substance of their decree, but also ridiculously wrong on the politics. You don’t need a law degree to see that CEOs are presently flooding this year’s presidential and congressional races with hundreds of millions of corporate campaign dollars, gleefully perverting the political process to buy government policy for their own gain. That not only gives the appearance of corruption, it is corrupt.

Laura Flanders: Workers vs. Investors: Famous Windows Factory in Danger of Liquidation

A workers’ cooperative in the Goose Island area of Chicago is desperately trying to stop the liquidation of a windows and doors factory the sale of which will scuttle their plans but benefit some well-connected investors.

Union members who put their bodies on the line not once but twice to save their windows and doors factory in Chicago found out Sunday that their former employer has broken a pledge to give workers a fair chance to buy factory equipment and plans instead to sell off machines as soon as Friday rather than let a Black and Latino-led workers’ cooperative buy and keep the plant in operation.

The workers, members of the United Electrical and Machine Workers of America Local 1110, sat in and briefly occupied their plant this February after owner, Serious Energy of California, announced a shut-down and a plan to move jobs out of state. Many of the same workers occupied the same factory in December 2008, becoming a cause-celebre at the height of the unemployment crisis.

Jules Boykoff and Alan Tomlinson: Olympian Arrogance

While Europe roils in economic turmoil, London is preparing for a lavish jamboree of international good will: in a few weeks, the city will host the 2012 Summer Olympics.

But behind the spectacle of athletic prowess and global harmony, brass-knuckle politics and brute economics reign. At this nexus sits the International Olympic Committee, which promotes the games and decides where they will be held. Though the I.O.C. has been periodically tarnished by scandal – usually involving the bribing and illegitimate wooing of delegates – those embarrassments divert us from a deeper problem: the organization is elitist, domineering and crassly commercial at its core.

The I.O.C., which champions itself as a democratic “catalyst for collaboration between all parties of the Olympic family,” is nonetheless run by a privileged sliver of the global 1 percent. This has always been the case: when Baron Pierre de Coubertin revived the Olympics in the 1890s, he assembled a hodgepodge of princes, barons, counts and lords to coordinate the games. Eventually the I.O.C. opened its hallowed halls to wealthy business leaders and former Olympians. Not until 1981 were women allowed in.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Wednesday is Ladies’ Day.

Follow us on Twitter @StarsHollowGzt

Katrina vanden Heuvel: A court of, by and for the 1%

The highest court in the land has spoken. That’s how President Obama characterized the Supreme Court’s surprising – and welcome – decision to uphold the Affordable Care Act, the signature domestic achievement of Obama’s first term. With its divided and bitterly contested 5 to 4 ruling, the arch-conservative Roberts Court spared a major piece of progressive legislation and, in the process, rescued the 35 million uninsured Americans who would have suffered, had the law been struck down. [..]

Right after the highest court in the land spoke, however, one of the lowest forces in the land spoke, too.

Americans for Prosperity, the shadowy conservative super PAC, announced that it would run $8.2 million worth of attack ads to slam health-care reform in nearly a dozen key swing states. No doubt many more of the GOP’s secretive sugar daddies will soon follow suit.

Lori Wallach: NAFTA on Steroids

While the Occupy movement has forced a public discussion of extreme corporate influence on every aspect of our lives, behind closed doors corporate America is implementing a stealth strategy to formalize its rule in a truly horrifying manner. The mechanism is the Trans-Pacific Partnership. Negotiations have been conducted in extreme secrecy, so you are in good company if you have never heard of it. But the thirteenth round of negotiations between the United States and eight Pacific Rim nations will be held in San Diego in early July. [..]

Think of the TPP as a stealthy delivery mechanism for policies that could not survive public scrutiny. Indeed, only two of the twenty-six chapters of this corporate Trojan horse cover traditional trade matters. The rest embody the most florid dreams of the 1 percent-grandiose new rights and privileges for corporations and permanent constraints on government regulation. They include new investor safeguards to ease job offshoring and assert control over natural resources, and severely limit the regulation of financial services, land use, food safety, natural resources, energy, tobacco, healthcare and more.

Amy Goodman: Climate Change: ‘This Is Just the Beginning’

Evidence supporting the existence of climate change is pummeling the United States this summer, from the mountain wildfires of Colorado to the recent “derecho” storm that left at least 23 dead and 1.4 million people without power from Illinois to Virginia. The phrase “extreme weather” flashes across television screens from coast to coast, but its connection to climate change is consistently ignored, if not outright mocked. If our news media, including-or especially-the meteorologists, continue to ignore the essential link between extreme weather and climate change, then we as a nation, the greatest per capita polluters on the planet, may not act in time to avert even greater catastrophe. [..]

Add drought to fire and violent thunderstorms. According to Dr. Jeff Masters, one of the few meteorologists who frequently makes the connection between extreme weather and climate change, “across the entire Continental U.S., 72 percent of the land area was classified as being in dry or drought conditions” last week. “We’re going to be seeing a lot more weather like this, a lot more impacts like we’re seeing from this series of heat waves, fires and storms. … This is just the beginning.”

Ellen Brown: Europe’s Shock Doctrine: Government by the Banks, for the Banks

The ESM Coup D’Etat in Europe

On Friday, June 29th, German Chancellor Angela Merkel acquiesced to changes to a permanent Eurozone bailout fund-“before the ink was dry,” as critics complained.  Besides easing the conditions under which bailouts would be given, the concessions included an agreement that funds intended for indebted governments could be funneled  directly to stressed banks.

According to Gavin Hewitt, Europe editor for BBC News, the concessions mean that:

   [T]he eurozone’s bailout fund (backed by taxpayers’ money) will be taking a stake in failed banks.

   Risk has been increased. German taxpayers have increased their liabilities. In future a bank crash will no longer fall on the shoulders of national treasuries but on the European Stability Mechanism (ESM), a fund to which Germany contributes the most.

   In the short term, these measures will ease pressure in the markets. However there is currently only 500bn euros assigned to the ESM. That may get swallowed up quickly and the markets may demand more. It is still unclear just how deep the holes in the eurozone’s banks are.

The ESM is now a permanent bailout fund for private banks, a sort of permanent “welfare for the rich.”  There is no ceiling set on the obligations to be underwritten by the taxpayers, no room to negotiate, and no recourse in court.

Rebekah Wilce: WTO Not So COOL: Rules Against Popular U.S. Meat Labeling Law

The World Trade Organization (WTO) issued a final ruling today against the U.S. country-of-origin labeling (COOL) law. This popular pro-consumer policy, which informs shoppers where meat and other foods were raised or grown, enjoys the support of 93% of Americans, according to a 2010 Consumers Union poll. Now Congress must gut or change the law to avoid the application of punitive trade sanctions.

The original meat labeling law passed as part of the 2002 farm bill and was expanded in the 2008 farm bill to apply to other foods like fresh fruits, nuts, and vegetables. Canada, Mexico, and several other countries filed a complaint regarding the policy with the WTO in December 2008 calling the popular consumer measure a “disguised” barrier to trade. The organization initially ruled in their favor in November 2011, but the U.S. filed an appeal in March 2012. Today, a WTO  tribunal made up of three trade officials ruled that the U.S. law is a violation of the WTO’s legally binding “Technical Barrier to Trade” agreement. The ruling is final. If the United States does not gut or change the law, the WTO can apply punitive sanctions, usually in the form of tariffs on U.S. exports. The ruling also casts into doubt the WT0-legality of other popular labeling laws.

Michelle Chen: New Orleans Teachers Get Justice, but Schools Still Under Attack

After Hurricane Katrina washed over New Orleans, many survivors had virtually nothing left to lose. But the city’s teachers were then hit by the storm’s ripple effect: the loss of thousands of jobs in the tattered school system. Recently, a civil district court ruled that the state had effectively robbed thousands of school employees of funds that were supposed to help tide them over as the city recovered.

After Katrina, the New York Times reports, most New Orleans schools were taken over by the state’s Recovery School District, which absorbed a stream of federal aid while the local school board was left impoverished:

   In December 2005, the local school board, with few schools and little money in its control, passed a resolution firing 7,500 school employees, who at that time had been on “disaster leave without pay,” an employment status that Judge Julien found in her decision to be “fictional.” She concluded that the state was liable for rendering the local board unable to fulfill its contractual obligations to its workers.

The ruling could lead to major payments to teachers whose careers and wages were upended by the purge. But aside from recompense for “disaster leave,” New Orleans public schools will remain adrift in a flood of drastic reforms. After Katrina, the city became an incubator for non-unionized charter schools and “experimental” restructuring plans.

Lisa Savage: At Afghanistan Summit This Week, Will Afghan Women Be at the Table?

When rich countries like the U.S., Japan, and NATO nations get together periodically to discuss the future of development funding for Afghanistan, who represents the interests of women and children who actually live there? Mostly men.

Even though research shows that durable security accords responsive to real conditions for civilians in war zones require women’s participation in the planning stages. Even though United Nations Security Council Resolution 1325 recognized this reality, and called for significant numbers of women to be present in all security talks.

On July 8-9 in Tokyo governments, international organizations, and other major donors will meet to discuss and take on financial commitments for a ten year period after 2014. As global players discuss funding Afghanistan’s future development, will they continue the pattern of devoting 90% of funds to building the Afghan army and police forces? If they really want peace, they will invite Afghan women to the table and listen to their expert testimony on how to make Afghanistan a safe place for them and their families.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

New York Times Editorial: Rigged Rates, Rigged Markets

Marcus Agius, the chairman of Barclays, resigned on Monday, saying “the buck stops with me.” His was the first departure since the British bank agreed last week to pay $450 million to settle findings that, from 2005 to 2009, it had tried to rig benchmark interest rates to benefit its own bottom line. [..]

The rates in question – the London interbank offered rate, or Libor, and the Euro interbank offered rate, or Euribor – are used to determine the borrowing rates for consumers and companies, including some $10 trillion in mortgages, student loans and credit cards. The rates are also linked to an estimated $700 trillion market in derivatives, which banks buy and sell on a daily basis. If these rates are rigged, markets are rigged – against bank customers, like everyday borrowers, and against parties on the other side of a bank’s derivatives deals, like pension funds.

Robert Kuttner: Mitigating Merkel’s Mischief

If Europe continues its steady march to financial depression and collapse of the Euro, no politician will be more to blame than German Chancellor Angela Merkel. Last week, Merkel repeated the same pattern that has characterized her behavior since the sovereign debt crisis began — resisting sensible reforms until the costs of delay became overwhelming, and then reversing course 180 degrees only after the damage was far greater than necessary. [..]

Merkel, characteristically, still opposes any respite for the suffering Greeks. It is up to the rest of Europe to isolate her again so that she can reverse course citing changed circumstances. Nor is Merkel willing to seriously rein in the financial speculation against government bonds that turns moderate budgetary problems into dire crisis. This, too, will take the resolve of wiser leaders.

Robert Reich: Mitt Romney and the New Gilded Age

The election of 2012 raises two perplexing questions. The first is how the GOP could put up someone for president who so brazenly epitomizes the excesses of casino capitalism that have nearly destroyed the economy and overwhelmed our democracy. The second is why the Democrats have failed to point this out. [..]

Part of the answer, surely, is that elected Democrats are still almost as beholden to the wealthy for campaign funds as the Republicans, and don’t want to bite the hand that feeds them. Wall Street can give most of its largesse to Romney this year and still have enough left over to tame many influential Democrats (look at the outcry from some of them when the White House took on Bain Capital).

Dean Baker: A Wall Street Gambling Tax: The Remedy to Inequality

As the presidential election builds up steam, the Washington elites in both parties are actively scheming to find ways to cut Social Security and Medicare benefits for retired workers. The media have widely reported on efforts to slip through a version of the deficit reduction plan developed by Morgan Stanley director Erskine Bowles and former Senator Alan Simpson. Since the vast majority of voters across the political spectrum reject cuts to these programs, the Washington insiders hope to spring this one on us after the election, when the public will have no say.

That is the sort of anti-democratic behavior we expect from elites who naturally want to protect their own interests. Of course, the rest of us are more concerned about the well-being of the country as a whole rather than preserving the wealth of the richest 1 percent.

Mark Weisbrot: For Mexicans, It Was the Economy, Stupid

IF ever there were an election preordained as a result of economic performance, it would be Mexico’s election on Sunday. The ruling National Action Party, or PAN, was destined to lose because it had presided over profound economic failure for 11 years. Almost any government in world would have lost under such circumstances.

Commentators, focused on the six-year-old drug war, have largely neglected to note the depth of Mexico’s economic problems. Let’s start with the basics: Since 2000, when the PAN was first elected, income per person in Mexico has grown by just 0.9 percent annually. This is terrible for a developing country, and less than half the rate of growth of the Latin American region during this period – which was itself not stellar. If we just look at per capita growth since the last election, in 2006, Mexico finishes dead last of all the countries in Latin America.

George Zornick: Tea Party Govs Say ‘No’ to Medicaid Expansion

Nearly 1 million Floridians will be denied access to Medicaid they would have otherwise received under the Affordable Care Act if Governor Rick Scott gets his way. The Supreme Court ruling last week on the law made it easier for states to opt out of an expansion, and Sunday night the governor’s office e-mailed a statement from Scott that “since Florida is legally allowed to opt out, that’s the right decision for our citizens.” [..]

But now hospitals in South Carolina and Florida are looking at a rate reduction without the corresponding increase in Medicaid coverage.

Hospital lobbies are always powerful in state politics, and could yet convince state legislators to buck the ideological governors and support an expansion. Combine the big industry money with a powerful narrative about denying coverage to hundreds of thousands of people, plus the diminishing returns of rallying against Obamacare-particularly after the fall elections-and by 2014 it’s possible Florida, South Carolina and other states will end up participating. They’re just going to make a lot of noise first.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

New York Times Editorial: The Radical Supreme Court

The Supreme Court’s landmark decision upholding the Affordable Care Act was a deft turn by Chief Justice John Roberts Jr., who voted with the court’s four moderate liberals for the first time in a 5-to-4 ruling. Yet, while they upheld the law’s mandate for individuals to buy insurance under Congress’s taxing power, the chief justice joined the four other conservatives to reject that provision under the Constitution’s commerce clause.

That rejection underscores the aggressiveness of the majority’s conservatism and marks a stunning departure from the long-established legal consensus that Congress has broad power to regulate the economy.

Paul Krugman: Europe’s Great Illusion

Over the past few months I’ve read a number of optimistic assessments of the prospects for Europe. Oddly, however, none of these assessments argue that Europe’s German-dictated formula of redemption through suffering has any chance of working. Instead, the case for optimism is that failure – in particular, a breakup of the euro – would be a disaster for everyone, including the Germans, and that in the end this prospect will induce European leaders to do whatever it takes to save the situation.

I hope this argument is right. But every time I read an article along these lines, I find myself thinking about Norman Angell.

Who? Back in 1910 Angell published a famous book titled “The Great Illusion,” arguing that war had become obsolete. Trade and industry, he pointed out, not the exploitation of subject peoples, were the keys to national wealth, so there was nothing to be gained from the vast costs of military conquest.

Joseph E. Stiglitz: How policy has contributed to the great economic divide

The United States is in the midst of a vicious cycle of inequality and recession: Inequality prolongs the downturn, and the downturn exacerbates inequality. Unfortunately, the austerity agenda advocated by conservatives will make matters worse on both counts.

The seriousness of America’s growing problem of inequality was highlighted by Federal Reserve data released this month showing the recession’s devastating effect on the wealth and income of those at the bottom and in the middle. The decline in median wealth, down almost 40 percent in just three years, wiped out two decades of wealth accumulation for most Americans. If the average American had actually shared in the country’s seeming prosperity the past two decades, his wealth, instead of stagnating, would have increased by some three-fourths.

In some ways the data confirmed what was already known, but the numbers still shocked. We knew that house prices – the principal source of saving for most Americans – had declined precipitously and that trillions of dollars in home equity had been wiped out. But unless we understand the link between inequality and economic performance, we risk pursuing policies that will worsen both.

Devon G. Peña: Fear & Loathing in Texas: State Republican Party Seeks to Ban Critical Thinking in Public Schools

Platform Prohibits Teach Higher Order Thinking Skills

What is it about the political rightwing in the Lone Star State? It seems like they are now competing with Arizona to take the lead as the nation’s most anti-education and anti-intellectual state.

Here is the actual language from a position statement in the 2012 Texas Republican Party Platform:

   “Knowledge-Based Education – We oppose the teaching of Higher Order Thinking Skills (HOTS) (values clarification), critical thinking skills and similar programs that are simply a relabeling of Outcome-Based Education (OBE) (mastery learning) which focus on behavior modification and have the purpose of challenging the student’s fixed beliefs and undermining parental authority.”

Where does this Republican fear of critical thinking come from? One would have to surmise it may be derived from two sources: Either (1) they learned some nifty reactionary ideas from the Arizona struggle against HB2281, the law banning the teaching of Chicana/o Studies in public schools, or (2) they understand that Texas public schools are now filled with a majority of minority [sic] students, most of them Mexican-origin, and it may not be a good idea to encourage them to become anything other than servants of the 1% by denying them anything but rote learning and vocational educations.

Robert Sheer: Supreme Court Leaves Romney in the Cold

Mitt Romney is an idiot or, even worse, is pretending to be one. His tantrum of a response on Thursday to the Supreme Court’s health care decision was pure playground: As president I will own the ball, and the game will be played by rules that leave me a winner.

That game has already been called in a decision written by the top-ranking conservative jurist, and shorn of the constitutional objection; Barack Obama’s health care plan now will be judged by its practical outcomes. Romney’s promise that “I will act to repeal Obamacare” from “my first day as president of the United States” is a prescription of destructive gridlock for a program already well under way.

By immediately committing to reverse a health care reform based on the very program he implemented as governor of Massachusetts, Romney has gone to war with himself. Obviously, neither he nor his advisers has yet grasped that the decision written by Chief Justice John Roberts has changed the terms of the debate.

Roger Bybee: Dems Paint Romney as “Outsourcer-In-Chief,” But Will Obama’s Trade Deal Blow It?

The Obama administration and Democrats have been busily puncturing Mitt Romney’s record as an experienced “job creator,” with a multi-pronged attack on Romney’s role as a “pioneer” in offshoring jobs while heading up the private-equity fund Bain Capital.

Backed up by an ever-mounting supply of evidence from the New York Times, Boston Globe, and the Washington Post, Obama and the Democrats have shredded Rommey’s arguments that he is the man to restore employment.

Yet recent leaks reveal that the Obama administration has been secretly negotiating with Pacific Rim nations the Trans-Pacific Partnership (TPP) trade deal, based on the job-destroying NAFTA model. Obama-as with his trade deals last year with South Korea, Panama, and human-rights pariah Colombia-is once more falling into line behind CEOs in promoting what he as a candidate fiercely denounced in 2008 as “trade deals like NAFTA and China [that] have been signed with plenty of protections for corporations and their profits, but none for our environment or our workers who’ve seen factories shut their doors and millions of jobs disappear.

Punting the Pundits: Sunday Preview Edition

Punting the Punditsis an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

The Sunday Talking Heads:

Up with Chris Hayes: Joining Chris at 8AM ET will be: Gov. Brian Schweitzer (@brianschweitzer), Democrat of Montana; Rep. Peter Welch, Democrat of Vermont and member of the House Oversight and Government Reform Committee; Kansas Secretary of State Kris Kobach, Republican and co-architect of Arizona’s controversial immigration statute, SB 1070; Heather McGhee (@hmcghee), vice president of policy and research at the progressive think tank Demos; Maria Hinojosa (@Maria_Hinojosa), anchor of NPR’s Latino USA and president of Futuro Media Group; and Glenn Greenwald (@ggreenwald), former Constitutional and civil rights litigator, contributor at Salon.com.

The Melissa Harris-Perry Show: The guest list was not announced.

This Week with George Stephanopolis: This Week’s guests are Vicki Kennedy, the widow of the late Sen. Ted Kennedy; White House chief of staff Jack Lew and House Budget Committee chair Paul Ryan, R-Wis.

The roundtable debates the Supreme Court’s key health care and immigration decisions and all the week’s politics, with Keith Olbermann, ABC News’ George Will, Democratic strategist and ABC News contributor Donna Brazile, former Rep. Artur Davis, and “Nightline” co-anchor Terry Moran, who covers the Supreme Court for ABC News.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are Sen. Chuck Schumer, D-N.Y., and Sen. Tom Coburn, R-Okla.; , Gov. Martin O’Malley, D-Md., and Gov. Scott Walker, R-Wisc.

The roundtable breaks down the political and legal implications of this week’s Supreme Court decisions: POLITICO‘s John Harris, National Journal‘s Major Garrett, CBS News’ John Dickerson and Jan Crawford.

The Chris Matthews Show: This Week’s Guests Joan Biskupic, Reuters Supreme Court Correspondent; John Heilemann, New York Magazine National Political Correspondent; Katty Kay, BBC Washington Correspondent; and Pete Williams, NBC News Justice Correspondent.

Meet the Press with David Gregory: MTP’s guests are House Minority Leader Rep. Nancy Pelosi (D-CA); Obama supporter former Gov. Howard Dean (D-VT) and Romney Supporter Gov. Bobby Jindal (R-LA).

The roundtable guests are NBC’s Savannah Guthrie and Chuck Todd; Washington Post columnist Eugene Robinson; and the National Review‘s Rich Lowry.

State of the Union with Candy Crowley: The SoU’s guests this Sunday are Jack Lew, President Obama’s Chief of Staff; Jennifer Granholm, the former Michigan Governor; Carly Fiorina, the former Hewlett Packard CEO; CNN”s White House Correspondent Dan Lothian, and USA Today‘s Washington Bureau Chief Susan Page; and Colorado Gov. John Hickenlooper.

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

Paul Krugman: The Real Winners

So the Supreme Court – defying many expectations – upheld the Affordable Care Act, a k a Obamacare. There will, no doubt, be many headlines declaring this a big victory for President Obama, which it is. But the real winners are ordinary Americans – people like you.

How many people are we talking about? You might say 30 million, the number of additional people the Congressional Budget Office says will have health insurance thanks to Obamacare. But that vastly understates the true number of winners because millions of other Americans – including many who oppose the act – would have been at risk of being one of those 30 million.

So add in every American who currently works for a company that offers good health insurance but is at risk of losing that job (and who isn’t in this world of outsourcing and private equity buyouts?); every American who would have found health insurance unaffordable but will now receive crucial financial help; every American with a pre-existing condition who would have been flatly denied coverage in many states.

Richard (RJ) Eskow: Don’t Kid Yourself. It’s Still a Corporate Court. Here Are 10 Lessons From CEO Roberts

Was today’s ruling a victory for justice over corporate power? Did Chief Justice John Roberts rise above partisan differences because that’s where an honest reading of the law took him?

Nah. The majority on this Supreme Court is a wholly-owned subsidiary of Corporate America. Call it SCOTUS™ Inc., and it’s brought to you by the same fine folks that gave you Citizens United and Bush v. Gore. John Roberts is its CEO, not its chief justice.

The point isn’t to reinforce anybody’s cynicism. The point is to act more effectively on behalf of our ideals, by seeing things as they really are.

Robert Reich: Roberts’ Switch

Today a majority of the Court upheld the constitutionality of the Affordable Care Act, otherwise known as Obamacare in recognition of its importance as a key initiative of the Obama administration. The big surprise, for many, was the vote by the Chief Justice of the Court, John Roberts, to join with the Court’s four liberals. [..]

Unfortunately for President Obama – and for Chief Justice Roberts, to the extent his aim in joining with the Court’s four liberals was to reduce the public appearance of the Court’s political partisanship – the four conservatives on the Court, all appointed by Republican presidents, were fiercely united in their view that the entire Act is unconstitutional. Their view will surely become part of the Romney campaign.

George Zornick: Ruling Could Allow Republicans to Deny Medicaid to Millions of Poor Americans

The Affordable Care Act didn’t survive entirely as passed-somewhat lost amidst the intense focus on the individual mandate was a ruling that part of the law’s Medicaid expansion was unconstitutional. The Supreme Court’s modification of the law probably won’t have a fundamental, long-term impact, but does make it easier for rogue Republican governors to exempt their states from participating in the expansion-and could cost millions of low-income, uninsured Americans a chance at government health care. [..]

The decision is only hours old, and as yet, no Republican governor has announced that he or she will reject the Medicaid expansion. But if anyone does it will have real impacts on many uninsured in that state-in Texas, for example, Rick Perry could yank Medicaid away from 1.8 million people who would get it under an expansion. The biggest question for healthcare reformers and the uninsured going forward is whether Perry and his cohorts will actually pull the trigger.

John Nichols: Bernie Sanders, Nurses: We Still Need ‘Medicare for All’

There has been few steadier Congressional hands throughout he debate over healthcare reform than that of Vermont Senator Bernie Sanders. Principled in his support for the real reform of “Medicare for All,” yet pragmatic in his advocacy for Affordable Care Act provisions that expand public health programs and allow states to experiment with single-payer options, Sanders has been in the thick of every fight over President Obama’s signature reform. And the ensuing legislative and legal battles over its implementation.

What Sanders says about Thursday’s Supreme Court decision upholding the ACA provides important insights for progressives as they respond to a complex decision that, in the words of the National Nurses United union, “should not be seen as the end of the efforts by health care activists for a permanent fix of our broken health-care system.”

Robert Sheer: Supreme Court Leaves Romney in the Cold

Mitt Romney is an idiot or, even worse, is pretending to be one. His tantrum of a response on Thursday to the Supreme Court’s health care decision was pure playground: As president I will own the ball, and the game will be played by rules that leave me a winner.

That game has already been called in a decision written by the top-ranking conservative jurist, and shorn of the constitutional objection; Barack Obama’s health care plan now will be judged by its practical outcomes. Romney’s promise that “I will act to repeal Obamacare” from “my first day as president of the United States” is a prescription of destructive gridlock for a program already well under way.  

Punting the Pundits

“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.

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

Follow us on Twitter @StarsHollowGzt

E. J. Dionne: Scalia Should Resign from the Supreme Court

Justice Antonin Scalia needs to resign from the Supreme Court.

He’d have a lot of things to do. He’s a fine public speaker and teacher. He’d be a heck of a columnist and blogger. But he really seems to aspire to being a politician – and that’s the problem.

So often, Scalia has chosen to ignore the obligation of a Supreme Court justice to be, and appear to be, impartial. He’s turned “judicial restraint” into an oxymoronic phrase. But what he did this week, when the court announced its decision on the Arizona immigration law, should be the end of the line.

Katrina vanden Heuvel: Women Who Don’t Have Anything Close to ‘Having It All’

Anne-Marie Slaughter, the first women to head policy planning in the State Department, has set the punditry buzzing with her Atlantic cover story, ” Why Women Still Can’t Have it All,” on the pressures felt by successful professional women.

Women with high-powered careers competing for leadership roles while raising a family face harsh and conflicting pressures, as Slaughter details. But the stark reality is that most working mothers face far more daunting obstacles simply trying to keep their families afloat. And with advertisers geared to young affluents, celebrating a lifestyle that few can afford, the reality of most working mothers is too seldom discussed in the media.

Jonathan Turley: A Bigger, Better Supreme Court: The Case for Reform

A string of key decisions decided by 5-4 split effectively makes it a ‘court of one’. It’s time to debate a less dysfunctional future

This week, the country awaits the blockbuster ruling of the supreme court on the future of national healthcare in the United States. Citizens have waited anxiously every Monday morning for weeks for the next pronouncement – whether on immigration, free speech or, now, healthcare – to be handed down from the highest court. It has left many uneasy about the hold that such a small number of unelected jurists have on the nation.

Once again, many important decisions were the result of a court of one – 5-4 decisions, with “swing Justice” Anthony Kennedy deciding the issue for the nation. Healthcare is just one of a litany of cases that are reshaping the country in an image dictated often by just five members of the court. This has included sweeping changes in the political process from the Bush v Gore decision in 2000 (where the supreme court effectively chose the next president), to the Citizen’s United case (where the court struck down campaign finance limits for corporations).

Amy Goodman: Big Money Wins in the Big Skies of Montana

“I never bought a man who wasn’t for sale,” William A. Clark reportedly said. He was one of Montana’s “Copper Kings,” a man who used his vast wealth to manipulate the state government and literally buy votes to make himself a U.S. senator. That was more than 100 years ago, and the blatant corruption of Clark and the other Copper Kings created a furor that led to the passage, by citizen initiative, of Montana’s Corrupt Practices Act in 1912. The century of transparent campaign-finance restrictions that followed, preventing corporate money from influencing elections, came to an end this week, as the U.S. Supreme Court summarily reversed the Montana law.  Five justices of the U.S Supreme Court reiterated: Their controversial Citizens United ruling remains the law of the land. Clark’s corruption contributed to the passage of the 17th Amendment to the U.S. Constitution. Now, close to 100 years later, it may take a popular movement to amend the Constitution again, this time to overturn Citizens United and confirm, finally and legally, that corporations are not people.

Wendall Potter: Dems Play with Private Insurance Industry, Get Burnt

Et tu, Ron?

As President Obama read former Aetna CEO Ron Williams’ op-ed in The Wall Street Journal renouncing his support for a key provision of the health care reform law, he must have felt like Julius Caesar when Caesar realized, as he drew his last breath, that his close friend Brutus was in cahoots with his assassins.

Williams’ betrayal appeared in last Monday’s edition of the Journal under the headline, “Why I No Longer Support the Health Insurance Mandate.” The fact that it was published just days before the Supreme Court was expected to rule on the constitutionality of the mandate made it clear that Williams was not the trusted advisor the President thought he was, that, like Brutus, Williams had thrown his lot with those plotting against the commander-in-chief.

John Nichols: Labor’s Got to Get Serious About Amending to Overturn ‘Citizens United’

AFL-CIO President Richard Trumka is pulling no punches when it comes to the US Supreme Court’s recent pattern of decisions regarding the way in which corporations can engage in politics versus the way in which unions can engage.

“[This] Supreme Court says you cannot do anything to hamper the First Amendment rights of corporations,” argues Trumka. “But when it comes to workers, they haven’t seen a detriment to the First Amendment that they haven’t liked yet.”

Trumka has been increasingly critical of the Supreme Court’s 2010 Citizens United v. FEC ruling in recent months, arguing: “Citizen United has ushered in a new era of elections and it’s not a pretty picture.”

But now he has even more reason to be concerned. And, hopefully, to swing the labor movement toward even more aggressive support of fundamental reforms in how election campaigns are financed-up to and including a constitutional amendment to overturn Citizens United.

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