Tag: Politics

“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

Dean Baker: Tax Policy Not the Root of U.S. Economic Problem

There has been much public discussion of who exactly pays taxes and who gets government benefits ever since Mitt Romney’s now-famous fundraising speech was made public. Almost all of this discussion has focused narrowly on what the government actually takes from people in tax revenue and what it pays out in Social Security, unemployment insurance, and other benefits. This is unfortunate, because tax and transfer policy is the less important way in which the government helps or harms people.

The set of rules the government puts in place that structure the economy redistributes far more income than its tax and transfer policy. Starting with an obvious example, the government has destroyed millions of manufacturing jobs through a trade policy that puts U.S. manufacturing workers in direct competition with low-paid workers in the developing world. This policy has also had the effect of driving down wages in other sectors as the displaced manufacturing workers are forced to compete for jobs in retail or elsewhere in the service sector.

Robert Kuttner: Pain in Spain

The European authorities seem determined to drive the continent into a repeat of the Great Depression.

The European Central Bank keeps playing a cute game designed more to impress the Germans than the financial markets or to provide real relief. Mario Draghi, ECB president, offers to buy unlimited amounts of the bonds of states that are being pummeled by speculators, but then undercuts his own offer by conditioning it on punishing austerity.

In Spain, in the days after Draghi’s latest pronouncement, the rate on government bonds briefly fell, but is now rising again as markets realize that Draghi’s conditions make it impossible for any elected government to accept the offer. Meanwhile, unemployment is rising to record levels and Spain’s depression keeps feeding on itself.

“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: The Better Bargain: Transaction Tax, not Austerity

On the eve of Occupy Wall Street’s first anniversary, Congressman Keith Ellison introduced a much-needed common sense bill: HR 6411, the Inclusive Prosperity Act. The bill taxes financial transactions to generate revenue for social needs. Amid our consensus-narrowed, deficit-obsessed political debate, it’s a call to arms, and a breath of fresh air.

As I’ve often argued, a financial transaction tax is deeply pragmatic, broadly popular and sorely needed. At a time when budget slashing is a bipartisan obsession, it offers vital revenue. As we struggle to escape the recession wrought by the 1 percent, it presents a simple solution to discourage speculation. As progressives fight too many defensive battles, the financial transaction tax presents an urgent opportunity to go on offense.

Bryce Covert: A Gaffe Is When a Republican Tells the Truth

This Sunday, I attended a panel at the Brooklyn Book Festival in which moderator Ta-Nehisi Coates started out with a question for the panelists: Does this campaign season matter? Are we learning anything about the candidates? I was in the audience, but my response would be: Yes, it matters, and we’re learning a great deal. But it’s mostly about what the Republican Party really thinks.

While this election season may appear gaffe-tastic, the most viral moments weren’t misspoken words. Rather, they reveal what’s deep in the conservative heart-opinions that many had warned existed for a long time (and had even appeared in real-life legislation) but have now been put into stark relief for the general public. This election season has been highly instructional about deep-seated beliefs on the right.

High Speed Frequency Trading (HFT) has been known to rattle traders and disrupt the stock market but has yet to be harnessed by regulators, until now.

Germany Acts to Increase Limits on High-Speed Trades

by Melissa Eddy and James Kanter

Chancellor Angela Merkel’s government approved draft legislation on Wednesday that foresees imposing additional controls on such trading. The proposed measures include requiring that all high-frequency traders be licensed, requiring clear labeling of all financial products traded by powerful algorithms without human intervention and limiting the number of orders that may be placed without a corresponding trade. Traders who violate the limits, which would be set once the law took effect, would face a fine.

“Computer-generated algorithmic transaction involves a variety of new risks,” Germany’s finance ministry said in a statement. “Germany is reacting to these risks with legislation that will create more transparency, security and a better overview.”

The legislation, which is subject to approval by both houses of Parliament, was written with an eye toward similar legislation being discussed in Brussels that could eventually apply across the European Union, which has 27 member nations, the official said.

A prime example of what happens when HFT runs amok occurred in August this year by Knight Match, a system used by high speed trades, nearly bankrupted the trading company Knight Capital that lost $440 million in 45 minutes.

Knight was saved by a hastily assembled $400 million from a consortium of investors, but it appears the damage to Knight’s reputation with customers, particularly high frequency traders, will take longer to repair. Knight says the volume numbers, which were compiled by stock market and technology research firm Tabb Group, exclude the trading glitch, which happened on August 1st. Knight was forced to shut down its systems for part of that day. The volume drop shows that traders shied away from Knight longer than just in the days following the trading glitch. A Knight spokeswoman says the company won’t comment on whether trading volumes rebounded in September until early next month.

The HFT system has caused some concern in Washington. At a Senate Banking Committee hearing trading professional expressed the the fears of investors:

It no longer is your parents’ or grandparents’ stock market. Rather, it’s become a Wild West of trading, with errant technology too often in control and setting stocks, commodities, currencies and futures up for violent moves that could make the $1 trillion flash crash of May 2010 look tame by comparison, testified David Lauer, who has designed trading technology and worked as an analyst for Allston Trading and Citadel Investment Group.

“U.S. equity markets are in dire straits,” Lauer said. “We are truly in a crisis.”

He noted that “retail investors have been fleeing the stock market in droves” and that the Chicago Booth/Kellogg School Financial Trust Index shows “investor confidence is nonexistent – with only 15 percent of the public expressing trust in the stock market.”

Rather than buying a stock and holding onto it, institutions using high-frequency trading buy and sell stocks constantly in milliseconds, or much faster than a blink of the eye. Lauer said about 50 to 70 percent of the volume of trading in the stock market now takes that form. Often trading systems send out phony trades aimed at manipulating others into buying or selling. The activity can mislead legitimate traders working for mutual funds, pension funds or individuals to buy a stock at too high a price or sell it at too low a price.

The system is also riddled with fraud:

A New York-based brokerage allowed overseas clients to run a scheme aimed at distorting stock prices by rapidly canceling orders, according to the U.S. Securities and Exchange Commission.

Clients of Hold Brothers On-Line Investment Services were “repeatedly manipulating publicly traded stocks” by placing and erasing orders in an illegal strategy designed to trick others into buying or selling, the SEC said today in a release. Hold Brothers, its owners, and the foreign firms Trade Alpha Corporate Ltd. and Demonstrate LLC agreed to settle allegations that the New York broker failed to supervise customers and pay $4 million in total SEC fines.

The SEC complaint targeted practices that abused high-speed computer trading on American equity venues. As high-frequency activity has grown in recent years, the agency’s efforts to stop fraudulent practices such as “layering” or “spoofing” have extended to the automated trading tactics.

However, the SEC has been called the “Barney Fife” of regulators when it comes to regulating HFT and their competence has been questioned:

But the agency is clearly outgunned when it comes to dealing with high-frequency trading, many experts agree. And a new lawsuit goes so far as to accuse the SEC of covering up high-speed fraud so nobody will know just how incompetent it really is, Courthouse News reports.

In the suit, a Wisconsin company called EMM Holdings accuses the SEC of not investigating a Houston high-speed trading firm called Quantlab Financial. According to EMM, Quantlab is perpetrating fraud amid all the high-speed churning and burning it does in the stock market. EMM notes that Quantlab has been flagged six times in the past eight years by the Financial Industry Regulatory Authority, the brokerage industry’s self-regulatory body, for not properly documenting its trades. EMM thinks this is evidence that Quantlab is trying to cover up some fraud, and it has asked the SEC (pdf) for any documents showing an investigation of Quantlab. The SEC has refused (pdf), on the grounds that doing so might interfere with law-enforcement activities. EMM has sued the SEC to force it to give up whatever goods it has on Quantlab.

Trouble is, it’s not entirely clear if the SEC is actually investigating Quantlab at all. EMM argues in its complaint that the only way the SEC could deny its record request is “if there is an on-going and active investigation.” And EMM accuses the SEC of letting this investigation fester, hoping the statute of limitations will run out.

“Given [the SEC’s] near complete abdication of its prosecutorial duties during the 2008 financial crisis, inaction and delay may unfortunately have become [the SEC’s] modus operandi for dealing with complex financial malfeasance,” EMM said in its complaint.

At least the Germans are willing to take the “bull by the horns” by limiting the ability of these trades to disrupt the market with rules that would slow trading, curb the volume and make it more expensive for traders to cancel large volumes of orders.  

“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

Dean Baker: Debt Worries: Economists Fail Arithmetic, Again

The Washington political establishment has decided that reducing the debt should be the country’s number one economic priority. The tens of millions who are unemployed, underemployed or out of the workforce altogether due to the fallout from the collapse of the housing bubble will just have to wait until things get better; limiting the growth of the debt is the order of the day in Washington. [..]

Is it possible that many of the world’s leading economists are completely missing the boat in their understanding of the way in which the debt poses a burden on the economy? While that may seem far-fetched, almost all of the world’s leading economists completely missed the housing bubbles, in the United States and elsewhere, and the dangers the housing bubbles posed to the economy. In fact, the reason that the United States and other countries are facing large deficits today is almost entirely the result of the failure of the economists who were guiding policy in the years preceding the crash. [..]

In fact, they were anxious to put Social Security money in the stock market. The Republican economists wanted to get the money into the market through private accounts, and the Democratic economists wanted to do it by investing the Social Security trust fund directly. Either way, both got their arithmetic wrong.

Robert Reich: Mitt Romney’s Biggest Problem: He’s Giving the GOP Exactly What It Wants in a Candidate

I’ve spent the past few days debating right-wingers – among them, Grover Norquist and Ann Coulter. This isn’t my idea of fun. I do it because apparently many Americans find these people persuasive, and it seems important to try to show why they’re profoundly wrong.

There are two major theories about why Romney is dropping in the polls. One is Romney is a lousy candidate, unable to connect with people or make his case.

The second is that Americans are finally beginning to see how radical the GOP has become, and are repudiating it. [..]

Romney’s failing isn’t that he’s a bad candidate. To the contrary, he’s giving this GOP exactly what it wants in a candidate. And that’s exactly the problem for Romney – as it is for every other Republican candidate – because what the GOP wants is not at all what the rest of America wants.

The Obama administration has now taken an even lower road the Bush/Cheney regime when it comes to terrorism and terrorist organizations. US Secretary of State, Hillary Clinton is expected to inform Congress that she will be removing Mujahideen-e-Khalq (MEK) from the department’s list of Foreign Terrorist Organizations (FTO). MEK was designated a terrorist organization in 1997 during the Clinton administration and was one of the reasons for the justification of the Bush invasion of Iraq. MEK has also has been linked to the assassinations of several of Iran’s nuclear scientists.

The decision was driven by a steady flow of funds to members of Congress, lobbying firms and former officials in support of Iranian group:

The campaign to bury the MEK’s bloody history of bombings and assassinations that killed American businessmen, Iranian politicians and thousands of civilians, and to portray it as a loyal US ally against the Islamic government in Tehran has seen large sums of money directed at three principal targets: members of Congress, Washington lobby groups and influential former officials.

There is a long list of MEK supporters from both sides of the aisle: Democrats Howard Dean, Ed Rendell, Wesley Clark, Bill Richardson, and Lee Hamilton;

Republicans Rudy Giuliani, Fran Townsend, Tom Ridge, Michael Mukasey, ex-FBI director Louis Freeh, Newt Gingrich and Andrew Card. Current Republican Congress members Ted Poe, Ileana Ros-Lehtinen, the chair of the House of Representatives foreign affairs committee,; Mike Rogers, chairman of the House of Representatives intelligence committee;  Dana Rohrabacher, chairman of the foreign affairs committee’s oversight subcommittee

Lobbyist groups: DLA Piper; Akin Gump Strauss Hauer & Feld; and DiGenova & Toensing;

Government outsiders and journalists: Nobel Peace Prize recipient, Eli Wiesel; pro-Israel supporter Alan Deschowitz; The Washington Post‘s Carl Bernstein and the Chicago Tribune‘s Clarence Page. Townsend and Rendell are both cable news contributors.

Glenn Greenwald, writing at The Guardian, has five lessons to be learned about :the rot and corruption at the heart of America’s DC-based political culture”:

Lesson One: There is a separate justice system in the US for Muslim Americans.

The past decade has seen numerous “material support” prosecutions of US Muslims for the most trivial and incidental contacts with designated terror groups. It is hardly an exaggeration to say that any Muslim who gets within sneezing distance of such a group is subject to prosecution. Indeed, as I documented last week, many of them have been prosecuted even for core First Amendment activities: political advocacy deemed supportive of such groups. [..]

In sum, there are numerous American Muslims sitting in prison for years for far less substantial interactions with terror groups than this bipartisan group of former officials gave to MEK. This is what New York Times Editorial Page Editor Andrew Rosenthal meant when he wrote back in March that the 9/11 attacks have “led to what’s essentially a separate justice system for Muslims“. The converse is equally true: America’s political elites can engage in the most egregious offenses – torture, illegal eavesdropping, money-driven material support for a terror group – with complete impunity.

Lesson Two: The US government is not opposed to terrorism; it favors it.

The history of the US list of designated terrorist organizations, and its close cousin list of state sponsors of terrorism, is simple: a country or group goes on the list when they use violence to impede US interests, and they are then taken off the list when they start to use exactly the same violence to advance US interests. The terrorist list is not a list of terrorists; it’s a list of states and groups which use their power to defy US dictates rather than adhere to them.

Lesson Three: “Terrorism” remains the most meaningless, and thus the most manipulated, term in political discourse.

Terrorism, at least in its applied sense, means little other than: violence used by enemies of the US and its allies. Violence used by the US and its allies (including stateless groups) can never be terrorism, no matter how heinous and criminal.

Lesson Four: Legalized influence-peddling within both parties is what drives DC.

MEK achieved its goal by doing more than merely changing the beneficiaries of its actions from Saddam to the US and Israel. It also found a way – how it did so remains a mystery – to funnel millions of dollars into the bank accounts of key ex-officials from both parties, a bipartisan list of DC lobbyist firms, and several key journalists. In other words, it achieved its policy aims the same way most groups in DC do: by buying influence within both parties, and paying influence-peddlers who parlay their political celebrity into personal riches.

Lesson Five: there is aggression between the US and Iran, but it’s generally not from Iran.

Over the last decade, the US has had Iran almost entirely encircled, thanks in part – only in part – to large-scale ground invasions of the nations on its eastern and western borders. Some combination of Israel and the US have launched cyberwarfare at the Iranians, murdered their civilian scientists, and caused explosions on its soil. The American president and the Israeli government continuously and publicly threaten to use force against them.

Remember Osama bin Laden and how well that went.

Where is the protest from the so-called progressive left who were so opposed to the right wing Republican fetish with a war with Iran? ‘It’s OK if you’re Obama” should not be acceptable.

“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 Optimism Cure

Mitt Romney is optimistic about optimism. In fact, it’s pretty much all he’s got. And that fact should make you very pessimistic about his chances of leading an economic recovery.

As many people have noticed, Mr. Romney’s five-point “economic plan” is very nearly substance-free. It vaguely suggests that he will pursue the same goals Republicans always pursue – weaker environmental protection, lower taxes on the wealthy. But it offers neither specifics nor any indication why returning to George W. Bush’s policies would cure a slump that began on Mr. Bush’s watch.

In his Boca Raton meeting with donors, however, Mr. Romney revealed his real plan, which is to rely on magic. “My own view is,” he declared, “if we win on November 6, there will be a great deal of optimism about the future of this country. We’ll see capital come back, and we’ll see – without actually doing anything – we’ll actually get a boost in the economy.”

Are you feeling reassured?

Robert Kuttner: Filling Geithner’s (Small) Shoes

Timothy Geithner has said that he’ll step down as Treasury Secretary at the end of Obama’s first term. Assuming that Mitt Romney keeps self-destructing and Obama wins a second term, who should succeed him?

Just as Obama’s choice in 2008 of an economic team led by Larry Summers and Tim Geithner told you a lot about what kind of president he’d be (and not be), Obama will signal a lot in his selection of Geithner’s replacement. [..]

This is a key appointment, folks. Should not be left to the usual suspects. Progressive community should be paying attention, big time.

Despite the Obama administration’s poor performance, it appears that President Obama is on his way to a second term. It also appears that the Senate will continue to remain in the hands of the Democrats and now there is speculation that favors the Democrats taking back the House of Representatives.

What has changed? Up with Chris Hayes host Chris Hayes and The Nation‘s Washington correspondent, John Nichols discuss the status of heavily contested U.S. House and Senate races across the country, and the polls that show a potential uptick for Democrats.

At the New York Times, Nate Silver, who writes Five Thirty Eight, gives his analysis on key Senate races and what has gone wrong for GOP Candidates:

Since we published our initial Senate forecast on Tuesday, Republicans have seen an additional decline in their standing in two major races.

Two polls of Virginia published on Wednesday gave the Democrat, the former Gov. Tim Kaine, leads of 4 and 7 percentage points over the Republican, the former Senator George Allen. [..]

The other problematic state for Republicans is Wisconsin, where their candidate, the former Gov. Tommy Thompson, had once appeared to hold the advantage.

Mr. Thompson’s Democratic opponent, Representative Tammy Baldwin, had published an internal poll earlier this week showing her pulling into the lead. [..]

Wednesday also brought bad news for Republicans in Massachusetts, where a fourth consecutive poll showed the Democrat Elizabeth Warren ahead of Senator Scott Brown; in Connecticut, where a poll gave the Democrat Chris Murphy a slight advantage over their candidate, Linda McMahon; and in Florida, where a Fox News poll gave the Democratic incumbent Bill Nelson a 14-point lead.

The Democrats’ chances of controlling the Senate have increased to 79 percent in the forecast, up from 70 percent on Tuesday.

Nate has two theories on what has effected the downturn for the GOP:

Theory No. 1: Is Romney a Downballot Drag?

Mr. Romney has not dictated much in the way of detailed programs in these areas, and some of the policy stances that he has articulated are unpopular.

Mr. Romney has also been less able to campaign effectively against an unpopular Democratic initiative, the Democrats’ health care bill, because he passed a similar bill as governor of Massachusetts.

Finally, some voters who disapprove of Mr. Obama, but who also have lukewarm feelings toward Mr. Romney, might lean toward voting Democrat for Senate in effort to ensure divided government, especially since Republicans also have control of the House.

Theory No. 2: G.O.P. Conservatism Is Hurting

An alternative hypothesis is that the shift has to do with overall perceptions of the Republican platform.

Nate’s last comment in the article was that if this trend continues with the Senate races leaning to Democrats just how vulnerable is the GOP to losing the House? Well here are a couple of articles that discuss just that possibility:

Breaking blue? Will Romney-Ryan troubles give Dems shot at House Majority?]

by Michael John Spinelli

(As) Romney-Ryan lose steam just when they’re supposed to be gaining on the White House, Republicans, including House Ohio Congressman and House Speaker John Boehner, show by actions they took last week that maintaining control of the people’s chamber may not be the slam dunk they once thought.

Reports surfaced late last week that House Republicans are throwing in $3.2 million to save their majority. Speaker John Boehner, one report said, is in “all-out panic mode,” manifested by his initiative to ask his Republican Members to put up $3.2 million from their coffers to save their shaky House majority.

If the Senate can stay in Democratic control, as many pollsters believe it can, and the House gavel leaves Boehner’s grip to be wielded by California congresswoman Nancy Pelosi again, President Obama’s second term will turn on a dime from being four years of more GOP obstruction to his every policy recommendation, to a term he can double down on, learning from the battlefield of missed first-term opportunities. [..]

Democrats are currently leading in national “generic ballot polls that ask people which party they prefer for House races (without naming candidates), Dylan Matthews at Wonkblog writes, about the fact that has led a forecasters like Princeton’s Sam Wang to conclude that, based on past elections, Democrats are favored to retake the House. Wang puts the odds of that occurring at 74 percent.

The article by Mr. Wang that is cited above is from August. This is Mr. Wang’s latest analysis of the Democrat’s change of taking back the House:

Conditions through August showed a 2% lead on the generic Congressional ballot for Democrats. As of September 20th, in the wake of the Democratic convention, the lead has widened to 4.0 +/- 2.0%. Although it has yet to be appreciated by pundits, this could well translate to a November loss of the House of Representatives by Republicans. Based on the generic Congressional ballot, the probability of a Democratic takeover is 74% with a median 16-seat majority. Whichever party is in control, the seat margin is headed for being narrower than the current Congress. Like any probability in the 20-80% range, this is a knife-edge situation. This picture may change over the coming six weeks as more information, especially district-level polls, becomes available. [..]

Predicting the House outcome is challenging. First, there is the basic problem that we have to estimate how far opinion will move between now and November. On top of that, there is uncertainty in knowing how the polling measurement – generic Congressional ballot preference – translates to a seat outcome.

Another approach would be to use district-by-district polls and ratings. An estimate like that can be seen from our data partner, Pollster.com. Their House outlook shows retained GOP control, and RealClearPolitics implies the same. However, many of those polls are weeks or months old. My estimate today suggests that in the coming weeks, we might look for district polls to move in the Democrats’ direction. This is also an opportunity for a detailed analytical approach, as taken elsewhere, to shine.

Regardless of which party controls the Executive Branch, it is the Congress that can dictate the direction of policies. We will be following these races and trends closely.

“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

The Sunday Talking Heads:

Up with Chris Hayes: Chris’ Sunday guests were not yet listed at the time this was posted.

This Week with George Stephanopolis: George Stephanopoulos‘ guests on “This Week” are Obama campaign senior adviser David Axelrod and Republican National Committee Chairman Reince Priebus.

The roundtable will debate all the week’s politics, with Republican strategist and ABC News political analyst and contributor Nicolle Wallace; former Obama domestic policy adviser Melody Barnes; conservative commentator Ann Coulter, author of the new book “Mugged“; Univision anchor Jorge Ramos; and University of California, Berkeley professor and former Clinton Labor Secretary Robert Reich.  

No George Will?

Face the Nation with Bob Schieffer:  This Sunday Mr. Schieffer sits down for an exclusive interview with former President Bill Clinton.

His roundtable guests Mother Jones‘ David Corn, who uncovered the “47 percent” video, The Wall Street Journal‘s Peggy Noonan, TIME Managing Editor Rick Stengel, former Clinton adviser and professor at Harvard University David Gergen and CBS News Political Director John Dickerson look at news from the campaign trail and offer their take on where things stand in Campaign 2012.

The Chris Matthews Show: This week’s guests Helene Cooper, The New York Times White House Correspondent; David Ignatius, The Washington Post Columnist; Major Garrett, National Journal Congressional Correspondent; and Katty Kay, BBC Washington Correspondent.

Meet the Press with David Gregory: MTP guests are Obama backer Gov. Deval Patrick (D-MA) and key Romney supporter Sen. Kelly Ayotte (R-NH).

MSNBC’s political analyst and White House correspondent, Chuck Todd breaks down the latest polls.

The roundtable guests are Mayor of Atlanta Kasim Reed, senior Romney adviser Bay Buchanan, host of “Morning Joe” Joe Scarborough, David Brooks of the New York Times, and Democratic strategist Dee Dee Myers.

State of the Union with Candy Crowley: Ms. Crowley’s guests are Senators Dick Durbin (D-IL) and Lindsey Graham (R-SC);  House Intelligence Chairman Mike Rogers (R); pollsters Whit Ayres; Anna Greenberg; Susan Page of USA Today; and CNN Senior Political Analyst Ron Brownstein.

This week marks the first anniversary of MSNBC’s Up with Chris Hayes (@upwithchris), the two hour discussion program that airs at 8 AM on Saturdays and Sundays. It has been a refreshing addition to the standard fare news talk programs, providing interesting guests from the news, news media and blogosphere. you can follow the conversation and add your own comments by following the hashtag #Uppers on Twitter, on Facebook and now at Up with Chris.Tumblr.com:

Today on Up w/ Chris Hayes we celebrated our one-year anniversary. Our first year on the air has been defined by a sense of self-discovery and experimentation, a determination to innovate, to push forward the boundaries of what our show can be. We’ve journeyed from a conference room in 30 Rockefeller Plaza to Inequalistan to Occupy Wall Street, tinkering and improving at every step of the way. And you, our online audience, have been an integral part of that process, making Up w/ Chris very much a communal enterprise.

In the spirit of that innovation, today we’re launching a Tumblr. For as much as you see on the air, there is so much more that goes into producing Up w/ Chris every week. We have a rigorous, thoughtful, creative editorial process, and we’re hoping this platform will be an expression of that. We’ll be posting considerably more of all those revealing production elements you see each week on the show: charts, graphs, photos, videos, thoughts from our producers, and more. We hope it will be evocative of the UP sensibility – weekend mornings, all week long.

We also want this to be as much of an interactive experience as possible. On Tumblr you can reply, reblog, ask us questions and more. Is there an especially knotty political issue you think UP can elucidate with a handy chart or graph? A myth we can debunk with a quick review of the empirical evidence? Some historical perspective we can provide? Let us know.

When we first launched our Twitter account – and when Wyeth Ruthven, the original #upper – created the #uppers hash tag, there were just eleven mentions. Today, our record is above 7,000. We hope to see the same growth and enthusiasm here. Welcome!

– Sal Gentile, segment & digital producer, Up w/ Chris Hayes.

Host Chris Hayes (@chrislhayes) discusses what we know now with guests John Nichols, Washington correspondent for The Nation and associate editor of Wisconsin’s Capital Times; L. Joy Williams, (@ljoywilliams) political strategist and founder LJW Political Stategies, co-host of radio show “This Week in Blackness.”; Ana Marie Cox, (@anamariecox) columnist for The Guardian and founder of the political blog Wonkette; and Kevin Williamson, deputy managing editor of The National Review.

Teachers End Chicago Strike on Second Try

by Monica Davey and Steve Yaccino

CHICAGO – The Chicago Teachers Union agreed on Tuesday to end its strike in the nation’s third-largest school system, allowing 350,000 children to return to classes on Wednesday and bringing to a close, at least for now, a tense standoff over issues like teacher evaluations and job security that had upended this city for more than a week.

In a private meeting on Tuesday afternoon, 800 union delegates voted overwhelmingly to suspend the strike after classes had been halted for seven school days, which left parents at loose ends and City Hall taking legal action. The delegates, who had chosen on Sunday to extend their strike rather than accept a deal reached by negotiators for the union and the Chicago Public Schools, this time decided to abandon their picket lines.

Karen Lewis, the union president, described the voice vote as 98 percent to 2 percent in favor and a sign that the deal was seen as good, though hardly perfect.

Village relocated due to climate change

by Brook Meakins

With sea levels rising, the villagers of Vunidogoloa in Fiji have been forced to move to higher lands

For the most part, many people still experience climate change on an academic rather than a personal level. But for the villagers of Vunidogoloa on Vanua Levu, Fiji’s second largest island, climate change has become a daily intrusion on every day life. The villagers of Vunidogoloa are currently relocating to drier and higher land because of sea level rise, erosion, and intensifying floods. I had the opportunity to visit the village midway through this process – one of the very first village relocation projects in the world – and spoke with people young and old about their upcoming move.

“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

Gail Collins: The Polar Express

This is the season of Extreme Politics. Everything’s exciting. Mitt Romney paid taxes! Joe Biden just bought a 36-pound pumpkin! Paul Ryan is campaigning with his mom again!

Oh, and Congress is ready to go home to run for re-election. I know you were wondering. [..]

The good news is that our lawmakers spent their last pre-election days in Washington working to pass a bill that would keep the government running for the next six months. This is sometimes referred to as a “continuing resolution,” and sometimes as “kicking the can down the road.” Personally, I am pretty relieved to see evidence that this group has the capacity to kick a can. [..]

The majority leader, Harry Reid, pointed out repeatedly that he has had to struggle with 382 filibusters during his six years at the helm. “That’s 381 more filibusters than Lyndon Johnson faced,” he complained. Obviously, Robert Caro is never going to write a series of grand biographies about the life of Harry Reid.

It’s a wonder anything ever gets done. Although, actually, it generally doesn’t.

New York Times Editorial: Voter Harassment, Circa 2012

This is how [voter intimidation worked in 1966 v]: White teenagers in Americus, Ga., harassed black citizens in line to vote, and the police refused to intervene. Black plantation workers in Mississippi had to vote in plantation stores, overseen by their bosses. Black voters in Choctaw County, Ala., had to hand their ballots directly to white election officials for inspection.

This is how it works today: In an ostensible hunt for voter fraud, a Tea Party group, True the Vote, descends on a largely minority precinct and combs the registration records for the slightest misspelling or address error. It uses this information to challenge voters at the polls, and though almost every challenge is baseless, the arguments and delays frustrate those in line and reduce turnout.