Tag: Politics

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: Now We’re Talking

The thousand-mile journey to comprehensive immigration reform has begun, as you might expect for Washington, with a single memo. Eight senators, four from each party, released it on Monday: a statement of principles behind a deal to overhaul the system in one big bill. It calls for more border and workplace enforcement, more visas for needed workers and legalization – with a path to citizenship – for 11 million undocumented immigrants.

The statement lacks specifics and leaves a lot of room for disappointment and retreat. But what’s encouraging is that it exists at all. No longer does the immigration debate consist of two groups yelling across a void. No longer is the discussion hopelessly immobilized by Republicans who have categorically rejected any deal that includes any hint of “amnesty.”

Richard (RJ) Eskow: As Federal Prosecutors Cash In, Big Bankers Go Unpunished

We needed heroes after the financial crisis. Instead we got bureaucrats, compromisers, and perhaps something much worse. Federal law enforcement officials, our “thin gray line” against banker crime, were charged with restoring the balance of justice and reducing the threat of future crises. Seems they had other things on their minds.

Now the Administration’s first-term posse is riding off into the sunset. The most visible departure is Deputy Attorney General Lanny Breuer. Remember those submissive or avaricious sheriffs in the old Westerns, the ones who were always letting the bad guys run wild ?  “Sorry, Ma’am, I’d like to help you and the boy but there ain’t nothin’ I can do.”  That’s Breuer, whose shattered credibility and extreme reluctance to prosecute has become the stuff of legend.  

But he’s not the only one. Meet the senior partners in a firm that be more aptly named “Covington, Burling, and Justice.”

William K. Black: By Their Responses, Ye Shall Know Them

You often cannot evaluate a person’s character until they are under pressure. Their response to substantive criticism reveals an important aspect of character. While we learn the most from substantive criticism, the process is almost always painful. For people in positions of power, the substantive criticism is particularly vital and useful because far too often people fail to “speak truth to power.” They fear being excluded from the debate and marginalized should they criticize the false statements that the powerful make in order to maintain and extend their power. [..]

Journalists constantly face the ethical issue of whether to speak truth to power. They need access to the powerful to do their jobs. Journalists also want to be viewed as “serious” and the powerful often define as “unserious” any journalist who criticizes the powerful and the myths that the powerful spread in order to maintain and exploit their power. Far too often, journalists decide against speaking truth to power. This self-censorship is particularly damaging because it is invisible to the public and because it inherently degrades the journalist’s integrity.

E. J. Dionne, Jr.: The Urgency of Growth

If you care about deficits, you should want our economy to grow faster. If you care about lifting up the poor and reducing unemployment, you should want our economy to grow faster. And if you are a committed capitalist and hope to make more money, you should want our economy to grow faster.

The moment’s highest priority should be speeding economic growth and ending the waste, human and economic, left by the Great Recession. But you would never know this because the conversation in our nation’s capital is being held hostage by a ludicrous cycle of phony fiscal deadlines driven by a misplaced belief that the only thing we have to fear is the budget deficit.

John Nichols: Priebus Is What Happens When a Party Loses Its Self-Respect

The Republican National Committee has retained Reince Priebus as party chairman, keeping the failed leader in a position previously occupied by Mark Hanna, Lee Atwater and Haley Barbour.

Even as he accepted his new term, Priebus acknowledged that he and his minions have led their party far from the American mainstream. “We have to build better relationships in minority communities, urban centers and college towns,” he admitted in his acceptence speech. [..]

Priebus was not reelected to build a multiracial, multiethnic party that embraces diversity and seeks to deliver a message of opportunity for all. The whole point of his chairmanship has been to combat the politics of inclusion that Republicans decry Barack Obama for practicing.

That has placed the once honorable Republican Party on the wrong side of history, and of American progress.

Harold Meyerson: Employees? Consumers? Feh!

The Republican war on the NLRB and the Consumer Financial Protection Bureau

Should the Supreme Court uphold it, last Friday’s decision by three Reagan-appointees to the D.C. Circuit Appellate Court appears at first glance to rejigger the balance of power between Congress and the president. The appellate justices struck down three recess appointments that President Obama had made to the five-member National Labor Relations Board during the break between the 2011 and 2012 sessions of Congress partly on the grounds that Congress wasn’t formally in recess, since one and sometimes two Republicans showed up to nominally keep it in session for the sole reason of denying Obama the right to recess appointments. Two of the three justices went further, ruling that the president can’t really make recess appointments at all. [..]

The real issue here is who Obama appointed, and to what agencies. The recess appointments he made in the 2011-2012 break were to the NLRB (two Democrats, one Republican) and the directorship of the Consumer Financial Protection Bureau (former Ohio attorney general Richard Cordray). Obama had sent these nominations to the Hill, but invoking the 60-vote supermajority rule, Republicans refused to consider them. They made clear that their problem with Cordray wasn’t Cordray; it was that they opposed the very existence of the Bureau, which had been created as part of Dodd-Frank in 2010. The idea of an agency that represented financial consumers solely-as opposed to other agencies like the Federal Deposit Insurance Corporation and the Controller of the Currency-struck them as a terrible idea. They proposed to amend the act by reconstituting the bureau as an agency, with multiple board members, that represented banks’ interests as well as their consumers. In short, they proposed a house divided against itself.

New SEC Head is a Fox

Pres. Barack Obama nominated former US Attorney of the Southern District of New York, Mary Jo White, to head the troubled Securities and Exchange Commission. The announcement comes a day after the damning PBS Fraontline expose of the Department of Justice’s failure to prosecute bank fraud and the resignation of Lanny Breuer, the head of the DOJ criminal division. Ms. White certainly has a fine reputation of being a tough prosecutor during her tenure as US Attorney, she managed something Rudi Guiliani failed to do, finally putting notorious mobster John “The Teflon Don” Gotti behind bars. However, in the 10 years since she left that office, Ms. White has worked diligently to protect the heads of the “Too Big To Fail” banks. In his Salon article, David Sirota called her a “Wall Street enabler” and goes on to enumerate the evidence:

Matt Taibbi, Rolling Stone contributing editor, in his article “Why Isn’t Wall Street in Jail,” recounts how during her tenure as head of litigation at the New York law firm Debevoise & Plimpton, Ms. White defended some very high profile bankers and played a key role in the “squelching of then-SEC investigator Gary Aguirre’s investigation into an insider trading incident involving future Morgan Stanley CEO John Mack

   The deal looked like a classic case of insider trading. But in the summer of 2005, when Aguirre told his boss he planned to interview Mack, things started getting weird. His boss told him the case wasn’t likely to fly, explaining that Mack had “powerful political connections.”…

   Aguirre also started to feel pressure from Morgan Stanley, which was in the process of trying to rehire Mack as CEO … It didn’t take long for Morgan Stanley to work its way up the SEC chain of command. Within three days, another of the firm’s lawyers, Mary Jo White, was on the phone with the SEC’s director of enforcement…

   Pause for a minute to take this in. Aguirre, an SEC foot soldier, is trying to interview a major Wall Street executive – not handcuff the guy or impound his yacht, mind you, just talk to him. In the course of doing so, he finds out that his target’s firm is being represented…by the former U.S. attorney overseeing Wall Street, who is going four levels over his head to speak directly to the chief of the SEC’s enforcement division…

   Aguirre didn’t stand a chance. A month after he complained to his supervisors that he was being blocked from interviewing Mack, he was summarily fired, without notice. The case against Mack was immediately dropped: all depositions canceled, no further subpoenas issued.

In February of 2012 on a panel at a New York University School of Law even, Ms White expressed her doubts about whether banks had committed crimes ahead of the financial crisis stating that care should be taken to “distinguish what is actually criminal and what is just mistaken behavior, what is even reckless risk-taking, and not bow to the frenzy.”

Another point of conflict is Ms. White’s husband. Yves Smith at naked capitalism notes that “John White, who headed the SEC’s corporate finance section under Chris Cox and was heavily involved in detailed Sarbanes Oxley rulemaking, and now that he is back at Cravath, has been lobbying against regulation.”

Nor does Ms. White have a background in finance or the “inner workings of the trading system:”

Although she has represented many executives accused of financial crimes, White is not an expert on the inner workings of trading systems, a lack of knowledge that may not serve her well as the SEC struggles to keep up with rapid changes in increasingly complex financial markets.

“The problem with the SEC is that they don’t seem to have a grip on” high-frequency trading and other major issues affecting modern financial markets, said Joe Saluzzi, co-head of equity trading at independent brokerage Themis Trading and a frequent critic of high-speed trading. “We’re concerned about cleaning up the market, and we need the SEC to take the lead here.”

Her background puts to question how aggressively White might prosecute financial fraud and enforce new rules under the Dodd-Frank financial reform law — most of which have not yet been adopted by the SEC.

Matt Taibbi recounts a conversation he had with a head fund manager regarding Ms. White’s:

His point about White is simple and it makes a lot of sense. She may very well at one time have been a tough prosecutor. But she dropped out and made the move a lot of regulators make – leaving government to make bucketloads of money working for the people she used to police. “That move, being a tough prosecutor, then going to work defending scumbags, you can only make that move once,” was his point. “You can’t go back again, you know what I mean?”

Think about it: how do you go back and sit in S.E.C.’s top spot after all of those years earning millions as a partner for a firm that represented Morgan Stanley, Bank of America, Goldman, Sachs, Deutsche, Chase, and AIG, among others? Think that fact that his firm has retained her firm has anything to do with Jamie Dimon coming out and saying that White is the “perfect choice” to run the S.E.C.? Think of all the things she knows but can’t act upon. Could she really turn around and target Morgan Stanley after being their lawyer for all those years?

Ms. White is not only another example of the government’s revolving door from public service to private practice back to public service but of Pres. Obama’s signal to Wall Street that they are safe to continue with business as usual. Mary Jo White is the fox in the hen house.  

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: Makers, Takers, Fakers

Republicans have a problem. For years they could shout down any attempt to point out the extent to which their policies favored the elite over the poor and the middle class; all they had to do was yell “Class warfare!” and Democrats scurried away. In the 2012 election, however, that didn’t work: the picture of the G.O.P. as the party of sneering plutocrats stuck, even as Democrats became more openly populist than they have been in decades.

As a result, prominent Republicans have begun acknowledging that their party needs to improve its image. But here’s the thing: Their proposals for a makeover all involve changing the sales pitch rather than the product. When it comes to substance, the G.O.P. is more committed than ever to policies that take from most Americans and give to a wealthy handful.

Glenn Greenwald: Kiriakou and Stuxnet: the danger of the still-escalating Obama whistleblower war

The only official punished for the illegal NSA program was the one who discussed it. The same is now true of torture

This Obama whistleblower war has nothing to do with national security. It has nothing to do with punishing those who harm the country with espionage or treason.

It has everything to do with destroying those who expose high-level government wrongdoing. It is particularly devoted to preserving the government’s ability to abuse its power in secret by intimidating and deterring future acts of whistleblowing and impeding investigative journalism. This Obama whistleblower war continues to escalate because it triggers no objections from Republicans (who always adore government secrecy) or Democrats (who always adore what Obama does), but most of all because it triggers so few objections from media outlets, which – at least in theory – suffer the most from what is being done.

Nancy Goldstein: Obama, Civil Rights is About Legislation, Not Alliteration

Please Don’t get me wrong. I enjoy a charismatic speaker, a gay marching band and a nice bit of alliteration as much as the next lesbian. But by the time President Obama invoked “Seneca Falls, and Selma, and Stonewall” in his inauguration speech, I was ready to flog him with an It Gets Better DVD. If words were action, this president would be a progressive’s dream. But the LGBT community has been to this rodeo before: the one where Obama at his best – which is to say, in campaign mode – suckers us with platitudes about his commitment to fairness and change, civil rights and constitutional values, and then sits on his butt until we force him to seek an actual political solution.

Cynical, me? No indeed. The Obama who boomed on Monday that “our journey is not complete until our gay brothers and sisters are treated like anyone else under the law – for if we are truly created equal, then surely the love we commit to one another must be equal as well” sent out his press secretary the very next day to assure us that the president won’t be expending any political capital to make his rhetoric a reality. When it comes to audacity, Obama’s real legacy is not one of hope, but of feigned helplessness. There’s plenty he could do about LGBT inequality in America if he wanted to, Congress be damned.

Robert Kuttner: Obama’s Heaviest Lift

President Obama is off to a good start in his second term. “We, the people,” he pledged in his second inaugural, “still believe that every citizen deserves a basic measure of security and dignity.” Amen to that.

But as the economy continues its agonizingly slow recovery, his greatest challenge will be to reverse the economy’s widening inequality. Ordinary working families are falling further and further behind the cost of living.

The picture is especially brutal for young adults, who are likely to find themselves saddled with college debt, facing jobs that offer neither benefits nor career security.

Though the unemployment rate is coming down, the deeper trends in job markets only intensify the trend of the past three decades — the lion’s share of the gains going to the top.

Alan Grayson: An Unconstitutional Two-fer

This week, the Republican leadership in the U.S. House of Representatives did something that you wouldn’t think is even possible: they introduced (and then the House passed) a five-page bill that, despite its brevity, may violate two separate provisions of the United States Constitution. [..]

Up until now, the federal debt limit has been a number. Now it’s a concept, and an undefined one at that. I find it hard to square that vagueness with Section 4 of the 14th Amendment, which states that: “The validity of the public debt … shall not be questioned.”

Not content with establishing that constitutional dilemma alone, the Republican leadership then made Congressional pay dependent on passing a budget. The bill says that if the Senate doesn’t pass a budget, then Senate pay (which is monthly) is postponed to the first week of 2015. Specifically, it changes pay from $14,500 a month to zero per month, and then something like a $300,000 lump sum on Jan. 2, 2015.

John Nichols: Three Strategies to Block the Gerrymandering of the Electoral College

As Republican National Committee chairman Reince Priebus promotes one of the most blatant assaults on democracy in modern times-a scheme to gerrymander the Electoral College so that the loser of the popular vote could win key states and the presidency-the number-one question from frustrated citizens is: What can we do about it?

After so many assaults on voting rights and the electoral process itself have been advanced, it is easy to imagine that Priebus, Karl Rove and their team could get away even with so audacious an initiative as the rigging of presidential elections. [..]

So can Priebus be stopped? It’s possible. But democracy advocates need to move fast, and smart.

What to do?

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 Sunday will be: Ambassador Swanee Hunt, the former ambassador to Austria from 1993 to 1997, now the Elizabeth Roosevelt Lecturer in Public Policy at Harvard University’s Kennedy School of Government; Robin Wright (@wrightr), joint fellow at the U.S. Institute of Peace and the Woodrow Wilson International Center; Horace Campbell, professor of African politics, African-American studies and political science at Syracuse University; Joshua Trevino (@jstrevino), vice president of external public relations at the Texas Public Policy Foundation; Vince Warren (@VinceWarren), executive director of the Center for Constitutional Rights; Phyllis Bennis, director of the New Internationalism Project at the Institute for Policy Studies; and Adam Serwer (@AdamSerwer), reporter and blogger for Mother Jones.

This Week with George Stephanopolis: Sunday’s guests on “This Week” are Foreign Relations Committee members Sen. John McCain (R-AZ) and Sen. Robert Menendez (D-NJ).

“Zero Dark Thirty” screenwriter and producer Mark Boal and Atlantic national correspondent Mark Bowden, best-selling author of “Blackhawk Down,” discuss the controversy over the Oscar-nominated film’s depiction of so-called enhanced interrogation in the hunt for Osama bin Laden.

The  roundtable debates all the week’s politics, with ABC News’ George Will; Rep. David Schweikert (R-AZ); Democratic strategist and ABC News contributor Donna Brazile; NPR “Morning Edition” host Steve Inskeep; and New Republic owner and publisher Chris Hughes, who interviewed President Obama for an Oval Office exclusive hitting newsstands next week.  

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are Sen. Dianne Feinstein (D-CA); New York City Police Commissioner Ray Kelly; former Republican Speaker of the House Newt Gingrich and Rep. Marsha Blackburn (R-TN) who will discuss gun control.

A panel looks at the big news this week: Defense Secretary Leon Panetta’s announcement lifting the ban on women in combat, the three-month debt ceiling deal which passed the House Wednesday, gun control and more with former Romney Campaign Senior Adviser Kevin Madden, Obama Deputy Campaign Manager Stephanie Cutter, The New York TimesDavid Sanger and The Washington Post‘s David Ignatius.

The Chris Matthews Show: This week’s guests are Chuck Todd, NBC News Chief White House Correspondent; Kelly O’Donnell, NBC News Capitol Hill Correspondent; Kathleen Parker, The Washington Post Columnist; and Chris Frates, National Journal Congressional Correspondent.

Meet the Press with David Gregory: Former Republican Vice Presidential Nominee Rep. Paul Ryan (R-WI) sits down exclusively with David Gregory for his first live interview since the election.

The roundtable guests are incoming President of the Heritage Foundation, former Senator Jim DeMint (R-SC); President and CEO of the NAACP Ben Jealous; Washington Post Associate Editor Bob Woodward; NBC’s Chief Foreign Affairs Correspondent Andrea Mitchell; and NBC News Special Correspondent Ted Koppel.

State of the Union with Candy Crowley: Ms. Crowley’s guests are retired Gens. Stanley McChrystal and Michael Hayden; Sen. Dianne Feinstein (D-CA);  Gov. Bob McDonnell (R-VA), Gov. Scott Walker (R-WI), Saratoga Springs, Utah Mayor Mia Love (R) and former Commerce Secretary Carlos Gutierrez.

The Legacy of Aaron Swartz

The White House announced a National Day of Civic Hacking, June 1 – 2, 2013, as the internet continues to mourn the hacker and activist, Aaron Swartz, who died of suicide at age 26. Aaron’s partner Taren Stinebrickner-Kauffman, executive director and founder of SumofUs.org joins host Chris Hayes; Lawrence Lessig, Roy L. Furman Professor of Law at Harvard Law School; Susan Crawford, professor for the Center on Intellectual Property & Information Law Program at Carodozo School of Law; and Ta-Nehisi Coates, senior editor for The Atlantic on the Up with Chris panel to discuss the legacy of Aaron Swartz.

What We Now Know

Up host Chris Hayes  discusses what we have learned this week about congressional gridlock, Senate Majority Leader Harry Reid’s (D-NV) “gentleman’s agreement” handshake with Senate Minority Leader Mitch McConnell (R-KY) and the dwindling hope for considerable change to the filibuster. He is joined by Mike Pesca (@pescami), sports correspondent for National Public Radio; Taren Stinebrickner-Kauffman (@Sum_Of_Us), executive director and founder of SumofUs.org and partner of Internet activist Aaron Swartz; Susan Crawford (@scrawford), author and  professor for the Center on Intellectual Property & Information Law Program at Carodozo School of Law; and Ta-Nehisi Coates (@tanehisi), senior editor for The Atlantic.

Real Filibuster Reform Will Not Be Coming to the Senate

What Killed Filibuster Reform?

Scott Lemieux, The American Prospect

Senators have a disincentive for getting rid of the anti-majoritarian rule: It gives them more power.

The failure to reform the filibuster is a very bad thing. The question is why so many Democratic senators-including some blue-state representatives like Vermont’s Patrick Leahy and California Senators Dianne Feinstein and Barbara Boxer-showed so little inclination to act in the interests of progressive values.

One issue is that some senators may not accurately perceive the damage that the filibuster does to Democratic interests. [..]

The larger problem, however, is that even for senators who understand the history of the filibuster and its inherently reactionary effects, the filibuster represents a disjuncture between the interests of progressives as a whole and the individual interests of Democratic senators. Collectively, the filibuster makes it harder to advance policy goals. But on an individual level, the filibuster and the Senate’s other arcane minority-empowering procedures give senators far more power than ordinary members of a typical Democratic legislature (including the House of Representatives). This helps to explain why even relatively liberal senior members tend to be more reluctant to abandon the filibuster than newer Democratic senators; once you get used to power, it’s hard to give it up.

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

Robert Reich: The Myth of Living Beyond Our Means

Brace yourself. In coming weeks you’ll hear there’s no serious alternative to cutting Social Security and Medicare, raising taxes on middle class, and decimating what’s left of the federal government’s discretionary spending on everything from education and job training to highways and basic research.

We” must make these sacrifices, it will be said, in order to deal with our mushrooming budget deficit and cumulative debt.

But most of the people who are making this argument are very wealthy or are sponsored by the very wealthy: Wall Street moguls like Pete Peterson and his “Fix the Debt” brigade, the Business Roundtable, well-appointed think tanks and policy centers along the Potomac, members of the Simpson-Bowles commission.

Seth Korman: Democrats: Even When They Win, They Don’t Win

There is something both honorable and maddeningly infuriating with the current incarnation of the Democratic Party. Even as it seems to represent the policy preferences a growing majority of Americans, it remains unable to translate this authority into real, political power.

How is it that the increasingly popular Democrats refuse to wield the political cudgel that the voters have placed in their hand, while the increasingly unpopular Republicans have no qualms about pushing radical reforms to maintain a toehold on power?

Margaret Flowers: Top CEOs plan to loot US social programmes

A top CEO plan to curb social programmes will be bad for everyone – except them.

The new recommendations for Social Security and Medicare released by the Business Round Table are beyond belief. It’s as if the people who wrote them never gaze outside of the tinted windows in their limousines.

As I wrote earlier in “Stop Obama’s Grand Charade“, the newest tactic to impose more austerity measures in the US comes from a group of over 80 CEOs who are starting with $60 million to spend on a campaign called “Fix the Debt “. They plan to convince people in the US that not only are cuts to vital programmes necessary, but that such cuts will strengthen them when exactly the opposite is true.

These CEOs are members of the Business Round Table, an elite corporate club that claims to create 7.3 trillion in annual revenues. That gives them a lot of political clout. The real reason for their push to cut spending on important programmes like Social Security and Medicare is so corporate tax rates can be cut further. Of course, they don’t say that. They say things like Social Security and Medicare are running out of money and we must preserve and strengthen them (preserve and strengthen sound eerily like the language we used in 2010 when we were fighting cuts by the Deficit Commission). This push for corporate tax cuts comes although corporate profits have grown by 171 percent during the Obama presidency alone, the highest growth in profits since 1900.

Richard (RJ) Eskow: Senator’s Denial of News Story Reflects Deep Resistance to ‘Chained-CPI’ Social Security Cut

Here’s an “Washington insider” story that could affect every family in the country. Congressional newspaper The Hill reported today that Sen. Chuck Schumer was considering using a special parliamentary maneuver to pass a budget deal.  

But this wasn’t just another “inside baseball”story, the kind that fascinates policy wonks and bores all other living beings. This story included an explosive paragraph which seemed to suggest that Schumer, the Senate’s #3 Democrat, was interested in a deal that included the “chained-CPI” cut to Social Security benefits. It also included cryptic language about “Medicare reform,” words that are often used as Beltway code for raising the eligibility age or other drastic benefit reductions to that program. [..]

This is partly the story of a poorly-worded paragraph on a volatile topic. But it’s primarily an economic and political story, not a media one. The fiery response from House progressives and outside groups demonstrates that there is growing and organized resistance to the chained-CPI.The prompt clarification from Schumer’s office, as reported in The Hill, shows that an increasing awareness among leading Democrats that the idea is politically toxic.

David Sirota: The President of Perpetual War

Four years into his presidency, Barack Obama’s political formula should be obvious. He gives fabulous speeches teeming with popular liberal ideas, often refuses to take the actions necessary to realize those ideas and then banks on most voters, activists, reporters and pundits never bothering to notice-or care about-his sleight of hand.

Whether railing on financial crime and then refusing to prosecute Wall Street executives or berating health insurance companies and then passing a health care bill bailing out those same companies, Obama embodies a cynical ploy-one that relies on a celebrity-entranced electorate focusing more on TV-packaged rhetoric than on legislative reality.

Jessica Valenti: Why Ending the Ban on Women in Combat Is Good for All Women

Responding to the news that the Pentagon will lift the ban on women in combat, lawyer and former Marine Ryan Smith made an impassioned argument in The Wall Street Journal for why this new policy is such a bad idea: “It is humiliating enough to relieve yourself in front of your male comrades; one can only imagine the humiliation of being forced to relieve yourself in front of the opposite sex.” And here I thought those in combat would have bigger concerns than who will see you go number two. [..]

The truth is that women are already dying in service to their country and are already on the frontlines, despite the existing policy.

What lifting the ban on women in combat will really mean is more opportunity for career advancement. The ACLU points out that women will now be eligible for tens of thousands of jobs that were once only available to men.

But perhaps even more importantly, it will start to chip away at the benevolent sexism that clouds our culture and suggests that inequality is just another form of chivalry.

ROTFLMAO: Tax the Banks to Punish Obama

Seriously, you can’t make this stuff up.

Dave Camp Bank Tax Bill Would Punish Obama-Friendly CEOs

by Zach Carter and Ryan Grim, The Huffington Poat

WASHINGTON — House Ways and Means Committee Chairman Dave Camp (R-Mich.) is considering legislation that would significantly increase taxes for the nation’s largest banks while providing tax breaks to struggling homeowners. [..]

The bill would significantly strengthen the Volcker Rule, which bans banks from speculating in securities markets with taxpayer money. The Volcker Rule’s implementation has been delayed as bank lobbyists have flooded regulatory agencies in Washington, pillorying the ban with loopholes. Hefty tax burdens for proprietary trading would reduce bank incentives to engage in the risky activity.

Camp’s legislation also would permanently establish a homeowner aid plan advocated by former Rep. Brad Miller (D-N.C.), who retired this month. When banks grant homeowners mortgage relief, the IRS considers the debt-reduction taxable income. As a result, struggling homeowners can face an unmanageable tax burden. A $50,000 debt reduction can spark an $18,000 tax bill — money that borrowers struggling to avoid foreclosure simply do not have. Miller successfully lobbied to include a one-year fix on the tax policy in the fiscal cliff deal. Camp’s legislation would permanently end the tax policy.

Steve Benen at The Maddow Blog aptly notes that “hell hath no fury like a House Ways and Means committee chairman scorned” but points out Camp’s “big deal” won’t impress the bank lobby:

Camp sent an angry letter to the Business Roundtable a month ago, and now Republicans are saying if there must be new revenue, it should be “on their backs.”

How big a deal is Camp’s bill? I think it’s safe to say the bank lobby won’t be impressed.

   Camp’s new bill would harvest government revenues from complex financial transactions involving derivatives, some of which figured prominently in the 2008 banking collapse. Although the 2010 financial reform legislation would curb some excesses in the derivatives market, the legislation isn’t yet fully implemented, and leaves much of the market unregulated. Financial reform advocates have urged new taxes on derivatives to deter excessive risk-taking by big banks. […]

   Camp’s bill would establish a new tax regime for derivatives, requiring banks to declare the fair market value of the products at the end of each year. Any increase in value would be considered corporate income, subject to taxation. It’s a more aggressive tax treatment than Wall Street enjoys for either derivatives or for trading in more traditional securities. […]

   The bill would significantly strengthen the Volcker Rule, which bans banks from speculating in securities markets with taxpayer money. The Volcker Rule’s implementation has been delayed as bank lobbyists have flooded regulatory agencies in Washington, pillorying the ban with loopholes. Hefty tax burdens for proprietary trading would reduce bank incentives to engage in the risky activity.

How serious is Camp about this? It’s hard to say at this point, though I suspect it’s mostly about posturing and political chest-thumping. Camp wants to send a message that he’s displeased and see this as a vehicle. Even if the committee chair got serious about this, I imagine other Republicans would intervene to stop its progress.

Benen thinks that in the aftermath of Pres. Obama’s reelection the business community see him as “a leader who is going nowhere” but “is reaching out to them.” At the same time they view the Republicans as untrustworthy and increasingly reckless.

But seriously, folks, the Republicans are threatening to tax the banks and help stressed homeowners as a “payback” for supporting Pres. Obama. Oh, please, let them.

ROTFLMAO

A Half Billion Dollar Tax Gift to BioTech Company

Unbeknownst to most of the legislators and public, tucked very neatly in section 632 (pdf) of the “fiscal cliff” bill, was provision that gave the world’s largest biotechnology firm, Amgen, a drug maker that sells a variety of medications, a half billion dollar gift that allows the company to evade Medicare cost-cutting controls by delaying price restraints on a class of drugs used by kidney dialysis patients for two years. Meanwhile in December, Amgen had been fined  $762 million in civil and criminal penalties for illegal marketing of one of its other drugs. This pricing break would wipe out two thirds of those fines.

This undercover handout of taxpayer’s dollars during a so-called “fiscal crisis” was reported in depth by The New York Times investigative reporters, Eric Lipton and Kevin Sack, who also revealed the “architects” of this giveaway, Republican Minority Leader Mitch McConnell, Democratic Senator Max Baucus, chair of the Senate Finance Committee, and that committee’s ranking Republican, Orrin Hatch.

Amgen has deep financial and political ties to lawmakers like Senate Minority Leader Mitch McConnell, Republican of Kentucky, and Senators Max Baucus, Democrat of Montana, and Orrin G. Hatch, Republican of Utah, who hold heavy sway over Medicare payment policy as the leaders of the Finance Committee.

It also has worked hard to build close ties with the Obama administration, with its lobbyists showing up more than a dozen times since 2009 on logs of visits to the White House, although a company official said Saturday that it had not appealed to the administration during the debate over the fiscal legislation.

The measure flies in the face of attempts to curb the enormous expense of dialysis for the Medicare program by reversing incentives to over-prescribe medication. But that didn’t deter the “three amigos” from sneaking in the provision to their generous benefactor:

Amgen’s employees and political action committee have distributed nearly $5 million in contributions to political candidates and committees since 2007, including $67,750 to Mr. Baucus, the Finance Committee chairman, and $59,000 to Mr. Hatch, the committee’s ranking Republican. They gave an additional $73,000 to Mr. McConnell, some of it at a fund-raising event for him that it helped sponsor in December while the debate over the fiscal legislation was under way. More than $141,000 has also gone from Amgen employees to President Obama’s campaigns.

What distinguishes the company’s efforts in Washington is the diversity and intensity of its public policy campaigns. Amgen and its foundation have directed hundreds of thousands of dollars in charitable contributions to influential groups like the Congressional Black Caucus and to lesser-known groups like the Utah Families Foundation, which was founded by Mr. Hatch and brings the senator positive coverage in his state’s news media.

Amgen has sent large donations to Glacier PAC, sponsored by Mr. Baucus in Montana, and OrrinPAC, a political action committee controlled by Mr. Hatch in Utah.

Not surprisingly when the news of this giveaway hit the paper, it enraged a bipartisan group of legislators to repeal this section.

U.S. Rep. Peter Welch (D-Vt.) filed legislation this week to eliminate the exemption for a class of drugs, including Amgen’s Sensipar, that are used by kidney dialysis patients. [..]

“Amgen managed to get a $500-million paragraph in the fiscal-cliff bill and virtually no one in Congress was aware of it,” Welch said. “It’s a taxpayer ripoff and comes at a really bad time when we’re trying to control healthcare costs. Amgen should not be allowed to turn Medicare into a profit center.” [..]

Other co-sponsors of the bill seeking repeal include House Republican Richard Hanna of New York and two House Democrats, Jim Cooper of Tennessee and Bruce Braley of Iowa.

Rep. Welch sat down with Bill Moyers on Moyers & Company to discuss Amgen’s “sweetheart deal”



The transcript can be read here

“When there is this back room dealing that comes at enormous expense to taxpayers and enormous benefit to a private, well-connected, for-profit company, we’ve got to call it out,” Welch tells Bill. “Those members of Congress who are concerned about the institution, about our lack of credibility, about the necessity of us doing things that are in the public good as opposed to private gain, we’ve got to call it out.”

Punting the Pundits

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Paul Krugman: Deficit Hawks Down

President Obama’s second Inaugural Address offered a lot for progressives to like. There was the spirited defense of gay rights; there was the equally spirited defense of the role of government, and, in particular, of the safety net provided by Medicare, Medicaid and Social Security. But arguably the most encouraging thing of all was what he didn’t say: He barely mentioned the budget deficit. [..]

Mr. Obama’s clearly deliberate neglect of Washington’s favorite obsession was just the latest sign that the self-styled deficit hawks – better described as deficit scolds – are losing their hold over political discourse. And that’s a very good thing.

Why have the deficit scolds lost their grip? I’d suggest four interrelated reasons.

New York Times Editorial: Women in the Battlefield

The Pentagon’s decision to end its ban on women in combat is a triumph for equality and common sense. By opening infantry, artillery and other battlefield jobs to all qualified service members regardless of sex, the military is showing that categorical discrimination has no place in a society that honors fairness and equal opportunity.

Defense Secretary Leon Panetta, who overturned the ban this week, and the Joint Chiefs of Staff, who unanimously urged him to do it, deserve praise for bringing military policy in line with reality. Women have been in the thick of combat in Iraq and Afghanistan for more than a decade. More than 280,000 have been deployed there, thousands have been injured and more than 150 killed. With the rule abolished, such service and sacrifice will no longer be unofficial and unrecognized.

Joseph A. Palermo: Flaccid Filibuster Reform Throws a Wet Blanket on ‘Audacity’

Senate Majority Leader Harry Reid talked a big game about taking apart the filibuster leading up to his Grand Bargain with Republican leader Mitch McConnell. The Kentucky senator now promises to play nice. But like Lucy holding the football for Charlie Brown, he has once again snookered the hapless Majority Leader. Reid has rewarded McConnell for his years of obstructionism and hyper-partisanship. The whole charade wouldn’t matter much if the fate of the United States and the world didn’t depend to a large degree on the decisions of these 100 politicians.

Reid’s handshake deal with McConnell means there’ll be no “talking filibuster” like in Mr. Smith Goes to Washington, and he also caved on the idea of requiring a 41-vote threshold to filibuster. Senators can still saunter over to the floor followed by a text message from a staffer and tie up any piece of legislation that doesn’t meet their fancy. And without a formal vote on altering the filibuster, we don’t even know all of the Democratic senators who sided with McConnell and the Republicans to hold them accountable. [..]

The Democrats should try something new: Stand up for what you believe in, have a public fight about it, and then if you lose you still look like you have principles and a backbone. Reid’s filibuster deal with McConnell makes the Democrats look like they have neither principles nor backbone.

John Nichols: Why Do ‘Pro-Life’ Pols Like Paul Ryan Protect Weapons of Mass Murder?

Congressman Paul Ryan consistently-make that aggressively-identifies himself as “pro-life.”

If the Catholic congressman’s definition of the term is narrowly limited to the debate about reproductive rights, perhaps Ryan can convince himself that his use of the term is appropriate.

But leading American Catholics are telling Ryan and other politicians that they can’t get away with claiming to be “pro-life” and “pro-NRA.” Theologians, priests and nuns are challenging the House Budget Committee chairman and 2012 Republican vice presidential nominee-who often suggests that his ideas and positions are influenced by Catholic teaching on social and economic issues-and other elected Catholics who trumpet their “pro-life” positions to think more seriously about the meaning of the term.

George Zornick: There Was No Reason to Surrender on Filibuster Reform

There’s a lot of unconvincing spin coming from the Senate Democrats who brokered an awful “filibuster reform” deal with Senate Minority Leader Mitch McConnell Thursday morning. Chief among them is the argument that this is any kind of actual reform-it isn’t. [..]

Simply put, the most radical ideas put forth by Republicans, and thus those most deserving of the filibuster, are likely to be wildly unpopular. They can be defeated without it. And in the event of a crisis, Democrats would still have the talking filibuster.

An even broader point-and the most important one-is that the Senate was simply not designed to work under a sixty-vote threshold. It’s not what the framers intended. The Senate is considered the more deliberative body because members have six-year terms and generally bigger constituencies, not because they are supposed to pass everything with a supermajority. If Reid truly respects the institution, he should have considered restoring it to its original form.

Alex Pareene: Virginia GOP jumps on the deform-the-electoral vote bandwagon

Republicans know America doesn’t support them, so now they’re looking to count less of America

Electoral vote-rigging plans show a Republican Party that is finally acknowledging the reality that a majority of Americans don’t subscribe to its brand of conservatism. Virginia was a “red state” for the entirety of the post-Civil Rights Act era, and this move shows that the GOP has effectively given up on winning it for the foreseeable future. It’s a stunning admission of irrelevance. [..]

Now we see what the Republican Party does when it can’t ignore the evidence that most Americans aren’t Republicans: Instead of changing anything at all about their beliefs to bring themselves closer to the mainstream, they are all brainstorming increasingly bizarre ways of winning elections without receiving more support from citizens.

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