Tag: Politics

Aug 12 2012

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

David Cay Johnston: The victims of low-interest locusts

Another financial crisis looms for U.S. taxpayers, a disaster likely to create even worse human misery than the mortgage fiasco that some of us warned about years before the Wall Street meltdown in 2008.

The crisis next time: collapsing investment incomes for older Americans as artificially reduced interest rates force them to use up their savings and drive more pension plans into failure.

Eviscerating the interest income of savers is the undeniable result of a long-running Federal Reserve policy to reduce interest rates, especially since December 2008. The Fed reiterated on Aug. 1 that it plans to keep interest rates low through late 2014. It says this helps to promote stronger economic growth and bring down the jobless rate.

As in the mortgage crisis, you can see this disaster building by examining the official data.

Richard (RJ) Eskow: Attorney General to U.S.: Nothing to See On Wall Street, Folks, Just Move Along

Yesterday the Justice Department announced that once again it’s not going to pursue evidence of Wall Street crimes which has been sent its way. It has already failed to act on information sent to it by sources whose investigators are apparently more dogged than its own, including several other government agencies and the Financial Crisis Inquiry Commission. Now the bipartisan committee which was led by Senators Carl Levin and Tom Coburn can be added to the list of sources whose leads weren’t pursued by Attorney General Eric Holder and his staff.

Holder was on the defensive yesterday, a sign that the mounting criticism of his inaction is getting his attention. He was also scornful of that criticism, saying that it’s belied by “a troublesome little thing called facts.”

There’s something troublesome here, all right, but it isn’t the facts.

John Nichols: Paul Ryan Covers Romney’s Right Flank

Mitt Romney will announce his running-mate Saturday morning on the USS Wisconsin.

Wisconsin, it will be noted, is the home state of Congressman Paul Ryan.

And the campaign bling factories are gearing up to print “Romney-Ryan” pins.

That’s a significant shift.

Until just a few days ago, Ryan was considered an unlikely prospect for the No. 2 spot on the Republican ticket: too rigid in his budgetary obsessions, too whacky in his enthusiasm for Ayn Rand’s novels and Austrian economics, too enthusiastic about taking apart Social Security, Medicare and Medicaid.

But Romney has always liked Ryan.

And so has the Republican right.

Eugene Robinson; Heating up debate on climate change

Excuse me, folks, but the weather is trying to tell us something. Listen carefully, and you can almost hear a parched, raspy voice whispering: “What part of ‘hottest month ever’ do you people not understand?”

According to the National Oceanic and Atmospheric Administration, July was indeed the hottest month in the contiguous United States since record-keeping began more than a century ago. That distinction was previously held by July 1936, which came at the height of the Dust Bowl calamity that devastated the American heartland. [..]

We can’t do anything about the greenhouse gases we’ve already spewed into the atmosphere, but we can minimize the damage we do in the future. We can launch a serious initiative to develop and deploy alternative sources of energy. We can decide what kind of environment we leave to our grandchildren.

I’d like to hear President Obama and Mitt Romney talk about the future of the planet. What about you?

Dan Moran: NRA prevents funding for studies on gun violence

There was nothing unusual about the University of Colorado’s grant to its once-promising student, James E. Holmes.

If Holmes weren’t accused of killing a dozen people and wounding 58, we’d never know that he received $21,600 for living costs while he pursued his doctorate in neuroscience. Nor was there anything odd about how the university paid for the stipend. The money came from an annual grant awarded by the National Institutes of Health.

But if the National Institutes of Health had granted money to a researcher delving into the reasons for mass shootings, there might have been trouble. In an Orwellian use of power politics, the gun lobby led by the National Rifle Association has in many instances muzzled federal agencies’ ability to fund basic research into gun violence.

Robert Reich: Back From Three Weeks Vacation With a Bold Proposal

When I left the U.S. economy was in a stall, Greece was on the brink of defaulting, the euro-zone couldn’t get its act together, the Fed couldn’t decide on another round of quantitative easing, congressional Democrats and Republicans were in gridlock, much of the nation was broiling, and neither Obama nor Romney had put forward a bold proposal for boosting the economy, slowing climate change, or much of anything else.

What a difference three weeks makes.

Here’s a bold proposal I offer free of charge to Obama or Romney: Every American should get a mandatory minimum of three weeks paid vacation a year.

Most Americans only get two weeks off right now. But many don’t even take the full two weeks out of fear of losing their jobs. One in four gets no paid vacation at all, not even holidays. Overall, Americans have less vacation time than workers in any other advanced economy.

This is absurd. A mandatory three weeks off would be good for everyone — including employers.

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Aug 12 2012

Punting the Pundits: Sunday Preview Edition

“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: Up with Chris Hayes is preempted for NBC’s coverage of the 2012 Summer Olympics. Chris will return next week.

This Week with George Stephanopolis: This Week’s gusts are  Obama campaign senior adviser David Axelrod and former Minnesota Governor Tim Pawlenty.

The roundtable debates Romney’s vice presidential pick and all the week’s politics, with ABC News’ Cokie Roberts, former Vermont Governor and founder of Democracy for America Howard Dean, Wall Street Journal Editorial Page Editor Paul Gigot, California Lieutenant Governor Gavin Newsom, host of Current TV’s “The Gavin Newsom Show,” and Wall Street Journal columnist Peggy Noonan.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are Senior Advisor to the Romney Campaign Eric Fehrnstrom and Obama Deputy Campaign Manager Stephanie Cutter; and Newt Gingrich.

Roundtable analysis from The Washington Post‘s Ruth Marcus, The Week‘s Bob Shrum, The Daily Beast‘s David Frum, The Washington Post‘s Michael Gerson and POLITICO‘s Roger Simon.

The Chris Matthews Show: The Chris Matthews Show is preempted for NBC’s coverage of the 2012 Summer Olympics.

Meet the Press with David Gregory: A special edition of  MTP’s with guests: RNC Chairman and fellow Wisconsinite, Reince Priebus and Governor of Ryan’s home state of Wisconsin, Scott Walker. The discussion continues on the roundtable with MSNBC’s Rachel Maddow; NBC’s Chief White House Correspondent and Political Director Chuck Todd; Editor of the National Review, Rich Lowry; the Washington Post‘s Dan Balz, and author and radio talk show host Bill Bennett, for whom Ryan was a speechwriter while Bennett was Secretary of Education.

State of the Union with Candy Crowley: Ms. Crowley’s guests are Senator John Thune (R-SD);  Senior Advisers to both campaigns – David Axelrod and Ed Gillespie.

Aug 12 2012

What We Now Know

Up with Chris Hayes returned after a two week hiatus for NBC’s coverage of the 2012 Olympics and just in time for a major political announcement by the presumptive Republican presidential nominee. It was leaked late last night and all over Twitter in seconds that former Massachusetts Governor Mitt Romney has selected Rep. Paul Ryan, (R-WI) for his running mate. So it isn’t at all surprising that this was the topic that dominated the discussion. Two segments that I felt were most important examined Rep. Ryan’s stance on Medicare and it impacts on the Romney campaign. In the second segment Chris and his guests reviewed Ryan’s voting record and the impact on tackling the deficit. Joining Chris on the panel were Rachel Maddow, host of MSNBC’s Rachel Maddow Show; Avid Roy, health care policy adviser to Gov. Romney; Melissa Harris Perry, host of MSNBC’s Melissa Harris Perry Show and Ezra Klein, political analyst for the Washington Post; and John Nichols, contributing editor at The Nation.

Aug 10 2012

Rebuilding a Mosque and Fighting Hate

The recent shooting in the Sikh temple in Wisconsin that left six dead, the burning of a Mosque in Joplin, MO and the smearing of Huma Adedin, longtime aide to Secretary of State Hillary Clinton were all fueled by the Islamaphobia of crazed white supremacists and fear mongering from our elected representatives and high profile government officials with outrageous imaginary claims of links to terrorists. It is the job of those of us on the Internet and in the traditional MSM to denounce the hate and help right the wrongs that we can. This is how it’s done:

Glenn Greenwald: Combating Islamophobic violence

Helping a burned-to-the-ground Missouri mosque quickly re-build would make a powerful and constructive statement

Shortly after the Islamic Society of Joplin opened a mosque in 2007 in Joplin, a small town in Southwest Missouri, the sign in front was set on fire, an act determined to be arson. On the 4th of July of this year, someone who is undoubtedly a deeply patriotic person was filmed by a surveillance camera throwing a flaming object onto the roof of the mosque in an attempt to burn it down, causing some fire damage (see the video below); despite a $15,000 reward offered by the FBI for information leading to the arrest of those responsible and a clear shot of the attacker’s face, nobody has come forward to identify him.

On Monday of this week – the day after the Sikh temple shooting in Wisconsin – that same Joplin mosque burned to the ground, completely destroyed by a fire that began in the middle of the night. So powerful was the fire that “only remnants indicated a building had been there, including some stone pillars that were still standing and a few pieces of charred plywood loosely held up by a frame.” Although the cause has not yet been determined, investigators – for obvious reasons – have labeled the fire “suspicious” and are searching for signs of arson. As obviously ugly as these incidents are, they offer an opportunity to make an important statement.

In response to these events, a teenaged member of that mosque, Joplin high school student Laela Zaidi, began using social media such as Reddit to talk about what happened and to discuss the importance of the mosque to her community (it’s not only the town’s only mosque, but the only one within a 50-mile radius, leaving Joplin’s Muslim families with no place to gather for Ramadan); the results of Zaidi’s online efforts (including her defense of her community) are surprisingly moving. In Salon on Monday, Joplin native Susan Campbell described the abundant humanitarianism in the town when it was devastated by a horrendous tornado last year, and called upon residents to tap into those same sentiments now by turning the July 4 attacker into authorities. Local-area churches and synagogues have quickly united in a show of support for the mosque.

Most significantly, a little-publicized online campaign to raise the $250,000 needed to rebuild the mosque has produced extremely quick and impressive results. Yesterday, when Al Jazeera’s The Stream wrote about the then-hours-old campaign, it had already raised 1/5 of the money needed ($51,000). When the campaign was first brought to my attention last night and I tweeted a link to it, it had already raised $75,000. As of this morning, barely 24 hours after the campaign began, just over half of the money needed ($126,000) has been raised. Having this Southwest Missouri mosque be able to quickly raise the money needed to re-build – all from small donations of people on the Internet disgusted by these attacks – would be a powerful statement indeed, and I really encourage everyone who can do so to donate.

As of today (Friday), over $262,000 has been raised, exceeding the goal for rebuilding the Mosque. Don’t stop. Donate here

In Glenn’s article, he points out the ugly trend of hate crimes directed at the Muslim community that have reached epidemic levels and the complicity of some of our elected officials and the mainstream media:

This happens because overt expression of Islamophobia is, far and away, the most accepted form of bigotry in mainstream American precincts. Now and then, certain expressions of it are so extreme as to embarrass mainstream circles – Peter King’s Congressional investigation into The Enemy Within or the Michele Bachmann attacks on Hillary Clinton’s Muslim aide – and are thus roundly condemend, but more often than not, they are perfectly acceptable.

The Washington Post‘s Dana Milbank today suddenly realized that Andrew McCarthy – the former federal prosecutor and oft-quoted “legal expert” now writing obsessive anti-Muslim screeds for National Review – is a hatemongering crackpot with exactly the right last name. The NYPD is exposed for indiscriminately targeting innocent Muslims with mass surveillance and infiltration in their communities, and almost every mainstream state and city politician – led by Democratic Sen. Chuck Schumer and the Democratic mayoral front-runner Christine Quinn – cheers. When demands were made that an Islamic community center be moved away from Ground Zero in Manhattan – as though Muslims generally were to blame for the 9/11 attack – even some prominent liberal politicians supported that demand.

And a hearty thanks to Stephen Colbert for taking them to the woodshed with his humor:

Aug 10 2012

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

Christian Neumeister: It’s Just Business: How Corporate America Made Slaves of the Young

Companies across the nation are gleefully denying interns fair wages for their work, in flagrant violation of long-standing labor law, and have the nerve to tell the world they are doing these people a favor.

Huge numbers of college students and recent graduates in a tight labor market are too scared to ask for compensation. Consequently, many interns must work for years in unpaid positions to build their résumés while depending on their parents for financial support. Not only do unpaid internships stop some from paying down a collectively exploding student debt, they compound the economical class differences between those who can afford to work for free and those who can’t.

This exploitative practice has evolved over the generations since the passage of the Fair Labor Standards Act in 1938 and a 1947 Supreme Court ruling about railroad trainees that officially defined unpaid internships; that ruling was mostly ignored by businesses, and today’s systemic abuse of interns eventually developed.

Mark Weisbot: UN Should Get Rid of Cholera Epidemic That It Brought to Haiti

Haitians have had a long and arduous struggle just to achieve the rights that most people in the rest of the hemisphere have enjoyed. From the revolution of Haitian slaves that won independence from the French in 1804, through the U.S. occupation (1915-1934), the Duvalier family dictatorship (1957-1986), and the last 20 years of devastating foreign intervention, the “international community” just hasn’t seen Haitians as having the same basic human rights as people in other countries. [..]

This is perhaps most clear in the failure of the United Nations to take responsibility for the additional devastation they have brought to Haiti with the deadly disease of cholera. Since the outbreak began in October 2010, more than 7,445 Haitians have died of the disease and more than 580,000 have been infected, and these official numbers are an underestimate. It is now firmly established, by a number of scientific studies, that UN troops brought cholera to Haiti by dumping their human waste into the country’s water supply. [..]

No wonder more than 70 percent of Haitians responding to a recent poll said they wanted MINUSTAH to leave within a year.  The UN can use the money currently wasted on this military force to rid the country of cholera.  Then, at least, they will have cleaned up one of their biggest crimes in the country.

Amy Goodman: On Gun Laws, It’s Bipartisan Consensus Not Gridlock That’s the Problem

Another mass murder, another shooting spree, leaving bodies bullet-riddled by a legally obtained weapon. This time, it was Oak Creek, Wis., at a Sikh temple, as people gathered for their weekly worship. President Barack Obama said Monday, “I think all of us recognize that these kinds of terrible, tragic events are happening with too much regularity for us not to do some soul-searching.” Amidst the carnage, platitudes. With an average of 32 people killed by guns in this country every day-the equivalent of five Wisconsin massacres per day-both major parties refuse to deal with gun control. It’s the consensus, not the gridlock, that’s the problem.

The president’s press secretary, Jay Carney, said, “We need to take common-sense measures that protect Second Amendment rights and make it harder for those who should not have weapons under existing law from obtaining weapons.” It’s important to note where Jay Carney made that point, reiterating the phrase “common sense” five times in relation to the President’s intransigence against strengthening gun laws, and invoking “Second Amendment” a stunning eight times. He spoke from the James S. Brady Press Briefing Room in the White House, named after one of Mr. Carney’s predecessors, shot in the head by John Hinckley during the attempted assassination of President Ronald Reagan in 1981. Brady survived and co-founded with his wife the Brady Campaign to Prevent Gun Violence. After each of these massacres, the Brady Campaign has called for strengthened gun control.

Mike Lofgren: Religion Destroyed the Republican Party

The following is excerpted from “The Party Is Over,” a new book by former Republican staffer and Truthdigger of the Week Mike Lofgren, published by Viking Press.

Having observed politics up close and personal for most of my adult lifetime, I have come to the conclusion that the rise of politicized religious fundamentalism may have been the key ingredient in the transformation of the Republican Party. Politicized religion provides a substrate of beliefs that rationalizes-at least in the minds of its followers-all three of the GOP’s main tenets: wealth worship, war worship, and the permanent culture war.

Religious cranks ceased to be a minor public nuisance in this country beginning in the 1970s and grew into a major element of the Republican rank and file. Pat Robertson’s strong showing in the 1988 Iowa presidential caucus signaled the gradual merger of politics and religion in the party. Unfortunately, at the time I mostly underestimated the implications of what I was seeing. It did strike me as oddly humorous that a fundamentalist staff member in my congressional office was going to take time off to convert the heathen in Greece, a country that had been overwhelmingly Christian for almost two thousand years. I recall another point, in the early 1990s, when a different fundamentalist GOP staffer said that dinosaur fossils were a hoax. As a mere legislative mechanic toiling away in what I held to be a civil rather than ecclesiastical calling, I did not yet see that ideological impulses far different from mine were poised to capture the party of Lincoln.

Joe Conason: The ‘Missing Evidence’ in Romney’s Tax Records

Harry Reid has provoked outrage among liberals as well as conservatives, who seem to believe he has violated propriety by repeating gossip about Mitt Romney’s taxes. The Senate leader says someone connected with Romney told him that the Republican candidate paid no income taxes for a period of 10 years. Offended by Reid’s audacity, commentators on the right have indicted him for “McCarthyism,” while others on the left have accused him of inventing the whole story.

Evidently the chief complaint against Reid-aside from aggressiveness unbecoming a Democrat-is that he cited “an extremely credible source” who he has so far declined to name. Some journalists have gone so far as to suggest that Reid must be lying because he won’t identify the source. [..]

Many of Reid’s critics work for news outlets that rely on unnamed sources every day, of course, publishing assertions that range from the mundane to the outlandish. It is hard to see why an unnamed source quoted by a daily newspaper or a monthly magazine-or hidden behind a screen in a TV studio-is more credible than a person whispering in the ear of a United States Senator.

E. J. Dionne, Jr.: Will Conservatives Reject Obamacare’s Rebates?

Here’s a chance for all who think Obamacare is a socialist Big Government scheme to put their money where their ideology is: If you truly hate the Affordable Care Act, you must send back any of those rebate checks you receive from your insurance companies thanks to the new law.

This is just common sense. If you think free enterprise should be liberated from Washington’s interference, what right does Uncle Sam have to tell the insurers they owe you a better deal? Keeping those refunds will make you complicit with Leviathan.

And here’s a challenge to Mitt Romney. You are running a deceitful ad about waivers the Obama administration has yet to issue based on rules allowing governors to operate their welfare-to-work programs more effectively. Will you please stop talking about your devotion to states’ rights?

Aug 09 2012

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

Dean Baker: The Fed, Ben Bernanke and the rotten Libor

Ben Bernanke had an obligation as Fed chair to expose and stop the rigging of inter-bank lending rates.

The case of the rigged Libor turns out to be the scandal that just keeps on giving. It reveals a great deal about the behaviour of the Federal Reserve Board and central banks more generally.

Last month, Federal Reserve Board Chairman Ben Bernanke gave testimony before Congress in which he said that he had become aware of evidence that banks in the UK were rigging the Libor – the inter-bank lending rate and one of the primary benchmarks for short-term interest rates – in the autumn of 2008. According to Bernanke, he called this to the attention of Mervyn King, the head of the Bank of England. Apparently Mervyn King did nothing, since the rigging continued, but Bernanke told Congress there was nothing more that he could do.

The implications of Bernanke’s claim are incredible. There are trillions of dollars of car loans, mortgages and other debts, in the United States, tied to the Libor. There are also huge derivative contracts whose value depends on the Libor at a moment in time. People were winning or losing on these deals not based on the market, but rather on the rigged Libor rate being set by the big banks.

Michael T. Klare: The Coming Hunger Wars: Heat, Drought, Rising Food Costs, and Global Unrest

The Great Drought of 2012 has yet to come to an end, but we already know that its consequences will be severe. With more than one-half of America’s counties designated as drought disaster areas, the 2012 harvest of corn, soybeans, and other food staples is guaranteed to fall far short of predictions. This, in turn, will boost food prices domestically and abroad, causing increased misery for farmers and low-income Americans and far greater hardship for poor people in countries that rely on imported U.S. grains. [..]

At this point, the focus is understandably on the immediate consequences of the still ongoing Great Drought: dying crops, shrunken harvests, and rising food prices. But keep an eye out for the social and political effects that undoubtedly won’t begin to show up here or globally until later this year or 2013.  Better than any academic study, these will offer us a hint of what we can expect in the coming decades from a hunger-games world of rising temperatures, persistent droughts, recurring food shortages, and billions of famished, desperate people.

Glen Ford: Where Will the US Strike Next in Africa?

Under the direction of the United States, the UN Security Council recently extended sanctions for another year against the northeast African nation of Eritrea. The country of 6 million people, nestled against the Red Sea, is on America’s hit list. In the imperial double-speak of Washington, Eritrea is described as a “destabilizing” force in the region – which simply means the government in Asmara has refused to buckle under to U.S. military domination of the Horn of Africa. [..]

Eritrea’s real sin is to be one of the very few nations in Africa that do not have military relations with AFRICOM, the U.S. war machine. That puts a bulls-eye on her back, along with Zimbabwe and Sudan, which U.S. Ambassador to the UN Susan Rice demanded be blockaded and bombed back in the George Bush administration. Barack Obama’s Africa policy is an extension and expansion of Bush’s aim to militarize the continent, and the much older U.S. policy to create chaos and horrific human suffering in those regions it cannot directly control. In practice, Obama’s doctrine is the same as Bush: “You are either with us or against us.”

Gail Collins: The Wacky Primary Voters

Missouri Republicans have just nominated a Senate candidate who appears to believe that the government’s college student loan program is the equivalent of Stage 3 cancer. Actually, he said “the Stage 3 cancer of socialism,” which is perhaps not the exact same thing. But I believe you get the idea.

This was a week after Texas Republicans nominated a Senate candidate who is worried about protecting the world’s golf courses from the United Nations. Republicans, I think you need to get a grip. [..]

Next week we have Wisconsin, where former Gov. Tommy Thompson, the guy everyone expected the Republicans to nominate for the Senate, is in trouble thanks to a challenge from – yes! – the Tea Party. And will Connecticut Republicans nominate a former congressman with a reputation for bipartisanship or a businesswoman whose claim to fame is building a professional wrestling empire? Duh.

Paul Krugman: US Conservatives Pile on the Excuses

The commentators Mike Konczal and Jonathan Chait both had good blog posts recently on “You didn’t build that,” the statement President Obama made during a speech in July that, deliberately misinterpreted, has dominated right-wing discourse these past few days. But I think both of them missed a couple of tricks.

The first is that both in effect shrugged their shoulders over the fact that for several days running the central theme of the Romney campaign has rested on a complete lie.

I understand; going on about the dishonesty can get boring. But we should step back often to look at this remarkable spectacle. I really don’t think there’s been anything like this in American political history: a presidential campaign with a pretty good chance of winning that is based entirely on cynical lies about what the sitting president has said. No, Mr. Obama hasn’t apologized for America; no, he hasn’t denigrated achievement. Yet take away those claims, and there’s nothing left in Mitt Romney’s rhetoric.

Michael Wolff: Never Forget Who Profits Most in $2 Billion Presidential Campaign

Campaign fundraising’s reality is that donors large and small end up disappointed. So cui bono? The media and media buyers

What does all this money, in the most well-funded presidential race ever, buy?

There’s the $750m for the president; $800m for Mitt Romney; and then there’s a couple of hundred more in Super Pac funds.

What do the people putting up all this dough in politics actually get? Or maybe a better question: how do people keep falling for this? [..]

Sheldon Adelson has been one of the big spenders during this campaign (by some estimates, his spend may go to $100m), first for Newt Gingrich, and now for Romney, accompanying the Republican candidate and his entourage on their recent trip to Israel. This might be what Adelson wants: some big-man travel, some personal press, a sense of bully-boy insinuation into Israel-US relations, some faith-based pride. But does he get real influence?

Jim Hightower: The People’s Choice! Only, Not Really

If you thought right-wing politicos couldn’t get any goofier, take a peek at Texas on “Cruz Control.”

Ted Cruz is America’s latest tea party darling, having just pulled off a political contortion in Texas that few would’ve thought humanly possible: He got to the right of Gov. Rick Perry! The “Oops” governor is himself a former tea party darling who’s such a far-out know-nothing that he’s renowned for putting the goober in gubernatorial. By the time of last week’s Republican runoff election in Texas, however, Cruz had squinched himself Houdini-like into even farther-out political positions than Perry has taken, thus wowing the tealeaf crowd and defeating the guy whom Perry was backing to be the Party’s nominee for a seat in the U.S. Senate.

How far out is he? One of the white-hot talking points Cruz used to fire-up the narrow extremists who now control the Texas GOP is that he will, by God, defend America’s golf courses! You might not have realized that golf course defense is a burning national issue crying out for the attention of U.S. senators, but such keen vigilance on even the most unimaginable threats to our nation is the kind of stuff that makes Cruz a tea party fave.

Aug 09 2012

Fines Not Commensurate with the Crime

The fines that are being levied against banks and companies for investment fraud, fraudulent advertising, money laundering and the like are large but come nowhere near the cost to tax payers and investors. Since these fines are but a fraction of the profits that these criminals reap, the fines won’t deter them from repeating the offense. Nor does it help that as part of the settlement the company and its employees are let off the hook for criminal wrongdoing.

Glaxo Agrees to Pay $3 Billion in Fraud Settlement

In the largest settlement involving a pharmaceutical company, the British drugmaker GlaxoSmithKline agreed to plead guilty to criminal charges and pay $3 billion in fines for promoting its best-selling antidepressants for unapproved uses and failing to report safety data about a top diabetes drug, federal prosecutors announced Monday. The agreement also includes civil penalties for improper marketing of a half-dozen other drugs. [..]

Part of the civil settlement also includes claims that the company overcharged the government for drugs. Glaxo did not admit any wrongdoing in the civil settlement.

Despite the large amount, $3 billion represents only a portion of what Glaxo made on the drugs. Avandia, for example, racked up $10.4 billion in sales, Paxil brought in $11.6 billion, and Wellbutrin sales were $5.9 billion during the years covered by the settlement, according to IMS Health, a data group that consults for drugmakers.

In the New York Times article, Patrick Burns, spokesman for the whistle-blower advocacy group Taxpayers Against Fraud, stated, “So a $3 billion settlement for half a dozen drugs over 10 years can be rationalized as the cost of doing business.” Also, Eliot Spitzer, former New York State Attorney General who sued GlaxoSmithKline in 2004 over allegations about the drug Paxil, was quoted as saying that “What we’re learning is that money doesn’t deter corporate malfeasance, The only thing that will work in my view is C.E.O.’s and officials being forced to resign and individual culpability being enforced.”

In another case, Morgan Stanley, an international investment firm, has agreed to pay a fine of $4.8 million with no admission of wrongdoing for electricity price-fixing said to cost consumers $300 million. Justice department officials said that it sends a message to the banking industry. What message would that be?

The government said the arrangement allowed KeySpan to withhold substantial electricity generating capacity from the market, driving prices higher for consumers, and generated $21.6 million of net revenue for Morgan Stanley.

U.S. District Judge William Pauley in Manhattan said he shared the concerns of state officials and the AARP, a nonprofit serving people 50 and older, that any settlement should have reflected the harm to consumers and forced Morgan Stanley to give up the $21.6 million.

“Given the government’s stark allegations of manipulative conduct against Morgan Stanley, disgorgement of $4.8 million is a relatively mild sanction,” Pauley wrote. “There is a risk that a large financial services firm like Morgan Stanley could view such a modest penalty as merely a cost of doing business.

“But despite this court’s misgivings, the government’s decision to settle for less than full damages is entitled to judicial deference, particularly in view of the novelty of the government’s theory.”

The judge also rejected the AARP argument that the $4.8 million be returned to consumers, in part because sending it instead to the U.S. Treasury served the public interest.

So the consumers are left holding the bag, particularly the financially stressed elderly and poor, while the Morgan Stanley and Keyspan continue business as usual concocting new ways to break the law.

If whistleblowers can reveal it, why can’t the government prosecute it? The claim by the Obama administration that it’s too hard to find the evidence to pin on an individual just rings too hollow. It may be hard but it is possible with subpoenas and little more effort. It is well past time we held the criminals responsible for breaking the laws and stop prosecuting those who expose it.

Aug 09 2012

It’s Getting Warmer

It’s getting warmer and that appears to be the trend. Is it too late to so something? What are the consequences? Is there the political will to take action? Naomi Wolf exams those questions in this article from The Guardian about the impact of the current American drought, the American phenomenon of climate change denial and the effects of “political polarization” on public opinion:

America has led the world in climate change denial, a phenomenon noted with amazement by Europeans, not to mention thinking people around the world. Year after year, the US has failed to sign global treaties or curb emissions, even as our status as a source of a third of the world’s carbon emissions goes unchanged. [..]

But could our denial be cracking, this summer, as, in the heartland – that most iconic of American landscapes – broiling temperatures injure humans and cook fish in the water? This summer a crisis has occurred (though one that, again, is seldom reported on in terms of our outsize contribution to the disaster), as midwestern farmers lost vast swaths of their corn crop to scalding heat and drought. In the American unconscious of wishful ignorance, this disaster and loss was to be borne, as usual, by other people far away. [..]

But we face some serious problems in rising out of our torpor. In “Shifting Public Opinion on Climate Change: An Empirical Assessment of Factors Influencing Concern over Climate Change in the US, 2002-2010“, John Wihbey shows that Gallup surveys reveal Americans’ level of concern varying widely [..]

Wihbey and colleagues’ study found that this fluctuation was caused by, among other factors, political polarization. In other words, when one party says global warming is a crisis and the other says all that is nonsense, and there is no cooperation between political elites at both ends of the spectrum, the net result is apathy.

What is even more ominous, is how China and India have manipulated carbon credits to make a profits from the production of HFC-23, a gaseous byproduct of a coolant that causes global warming and is used in air-conditioners and then destroying it:

When the United Nations wanted to help slow climate change, it established what seemed a sensible system.

Greenhouse gases were rated based on their power to warm the atmosphere. The more dangerous the gas, the more that manufacturers in developing nations would be compensated as they reduced their emissions.

But where the United Nations envisioned environmental reform, some manufacturers of gases used in air-conditioning and refrigeration saw a lucrative business opportunity.

They quickly figured out that they could earn one carbon credit by eliminating one ton of carbon dioxide, but could earn more than 11,000 credits by simply destroying a ton of an obscure waste gas normally released in the manufacturing of a widely used coolant gas. That is because that byproduct has a huge global warming effect. The credits could be sold on international markets, earning tens of millions of dollars a year. [..]

What was intended to fix the problem of hydro-chlorofluorocarbons has now created its own major problem:

The United Nations and the European Union, through new rules and an outright ban, are trying to undo this unintended bonanza. But the lucrative incentive has become so entrenched that efforts to roll it back are proving tricky, even risky.

China and India, where most of the 19 factories are, have been resisting mightily. The manufacturers have grown accustomed to an income stream that in some years accounted for half their profits. The windfall has enhanced their power and influence. As a result, many environmental experts fear that if manufacturers are not paid to destroy the waste gas, they will simply resume releasing it into the atmosphere. [..]

Some Chinese producers have said that if the payments were to end, they would vent gas skyward. Such releases are illegal in most developed countries, but still permissible in China and India. [..]

Already, a small number of coolant factories in China that did not qualify for the United Nations carbon credits freely vent this dangerous chemical. And atmospheric levels are rapidly rising.

Wall St. also has their grubby paws in this, too. Goldman Sachs invested in carbon credits and a coolant factory in Monterrey, Mexico, that receives carbon credits is 49 percent owned by Honeywell. So these companies, especially in China and India, are holding the world hostage. Pay up or we kill the climate faster.

James Hansen, director of NASA’s Goddard Institute for Space Studies joined Eliot Spitzer, host of “Viewpoint” to discuss how heat waves are a indicator of global warming.

“If we continue with business as usual this century, we will drive to extinction 20 to 50 percent of the species on the planet,” Hansen says. “We are pushing the system an order of magnitude faster than any natural changes of climate in the past.”

“We’re gonna have to reduce carbon dioxide emissions, and that is not as difficult as you think. If we would just make fossil fuels pay for their true cost to society, we could begin to move to different energies and energy efficiency,” Hansen contends. “We should be collecting a fee from fossil fuel companies that gradually rises over time and 100 percent of that money should be distributed to the public, not one dime to the government. If we did that, the people who do better than average in limiting their fossil fuel use will actually get more in this dividend than they would pay in increased energy prices.”

NASA’s James Hansen warns escalating climate crisis requires intervention

Aug 08 2012

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

Jeanne Mirer and Marjorie Cohn: The Toxic Effects of Agent Orange Persist 51 Years After the Vietnam War

From the beginning of the spraying 51 years ago, and even today, millions of Vietnamese have died from, or been completely incapacitated by, diseases which the US government recognizes are related to Agent Orange for purposes of granting compensation to Vietnam veterans in the United States. The Vietnamese, who were the intended victims of this spraying, experienced the most intense, horrible impact on human health and environmental devastation. Second and third generations of children, born to parents exposed during the war and in areas of heavy spraying hot spots, suffer unspeakable deformities that medical authorities attribute to the dioxin in Agent Orange. [..]

For the past 51 years, the Vietnamese people have been attempting to address this legacy of war by trying to get the United States and the chemical companies to accept responsibility for this ongoing nightmare. An unsuccessful legal action by Vietnamese victims of Agent Orange against the chemical companies in US federal court, begun in 2004, has nonetheless spawned a movement to hold the United States accountable for using such dangerous chemicals on civilian populations. The movement has resulted in pending legislation HR 2634 hot spots, lawsuit to compensate them, as the unintended victims, for their Agent-Orange-related illnesses. But the Vietnamese continue to suffer from these violations with almost no recognition, as do the offspring of Agent-Orange-exposed US veterans and Vietnamese-Americans.

Ruth Coniff: Tragedy in Wisconsin and Our Out-of-Control Gun Policies

The shooting rampage Sunday at the Wisconsin Sikh Temple outside Milwaukee has got to prompt serious soul-searching about our out-of-control gun policies in this country.

Although President Obama’s timely words of condolence strike the right note, once again the President did not seriously address the main problem: that the floridly psychotic, violent racists, and anyone else who attends a gun show or chooses to order thousands of rounds of ammunition online, has easy access to weapons like the two semiautomatic handguns the temple gunman apparently used.

This is not a hunting issue. It is not an issue of self defense. It is a question, as the President himself put it after the horrible massacre in a Colorado movie theater, of whether automatic weapons belong in the hands of soldiers, or of anyone who cares to use them.

Yves Smith: Where Are the Feds?

The New York Superintendent of Financial Services dropped a bombshell today, filing an order (pdf) against Britain’s Standard Chartered Bank. It charges the bank with having engaged in at least $250 billion of illegal transactions with Iranian banks, including its central bank, from 2001 to 2010, and of engaging in similar schemes with Libya, Myanmar and Sudan (those investigations are in progress). It threatens SCB with the loss of its New York banking license and termination of access to dollar clearing services. The latter alone is as huge deal. You are not a real international bank unless you have dollar clearing. Sumitomo Bank looked at giving up its US banking license in 1985 when it was examining deal structures for making an investment in Goldman, and ascertained that giving up access to Fedwire would cost it over $100 million a year and considerably weaken its position in Japan. SCB is certain to be a much more active dollar player than Sumitomo was and the volume of international transactions has grown hugely since then.

SCB squealed like a stuck pig, claiming that only $14 million of transactions were out of compliance. But the bank has nowhere to go. The NY Superintendent, Benjamin Lawsky, has made his determination. The only thing open for discussion is what sort of punishment he is going to impose.  [..]

The lack of action by everyone ex(cept) the lowly New York banking supervisor is mighty troubling.

Inge Fryklund: On Drugs and Democracy

The UN Office of Drug Control (UNODC) has thoroughly documented the violence, crime, and corruption linked with the worldwide heroin and opium trade. The U.S. news media report every day on the mayhem and corruption of government officials caused by the drug wars in Mexico, Colombia, and other points south of our border. In Afghanistan, the Taliban tax the opium trade and protect poppy farmers from eradication, fueling the insurgency and our 11-year war.

However, these problems are all consequences of drug prohibition, not of the drugs themselves. In legal terms, drugs are malum prohibitum (wrong because prohibited by law) rather than malum in se (inherently wrong, such as theft or murder). During the U.S. experiment with Prohibition (1920-1933), alcohol was malum prohibitum; as soon as it was legalized, it again became a normal regulated, traded, and taxed consumer product.

We need to rethink our prohibition of drugs. What problem are we trying to solve by making drugs illegal? Have we chosen the most effective and affordable solution? Are the collateral consequences worth it?

Katrina vanden Heuvel: Romney’s incredible extremes

The pro-Obama New Priorities PAC stumbled across this phenomena early in 2012 in its focus group testing. When they informed a focus group that Romney supported the budget plan by Rep. Paul Ryan (R-Wis.), and thus championed ending Medicare as we know it while also championing tax cuts for the wealthy, focus group participants simply didn’t believe it. No politician could be so clueless.

Incredulity may complement what New York Times columnist Maureen Dowd dubbed Romney’s strategy of “hiding in plain sight.” Romney refuses to release his tax returns, scrubbed the records and e-mails of his time as governor and as head of the Olympics, keeps secret details of his Bain dealings and covers up the names of his bundlers. And then, he’s able to announce extremely cruel policy positions with impunity, because the voters just can’t believe that’s what he is for.

This is what comes to mind with the publication of a study (pdf)  on the effects of the Romney tax policy by the non-partisan Tax Policy Center and the Brookings Institution.

Bryce Covert: Cutbacks to Unemployment Insurance Came Long Before the Great Recession

You may have heard that we’re in the middle of an unemployment crisis. It’s little wonder that an average of 365,500 people per week made new claims for unemployment benefits over the past month. These high numbers have been straining unemployment insurance programs at the federal and state level, and many states have run out of reserves to pay for them, triggering a reduction in benefits. But this crisis wasn’t inevitable. The pull back in unemployment benefits is just another result of state-level choices to cut taxes at the expense of state spending, spending that could be cushioning the blow of the Great Recession.

States are unable to adequately finance their unemployment insurance programs just when they are most needed not because they were unexpectedly overwhelmed. As a new report from the National Employment Law Project shows, it was because they failed to finance them during the good times like they’re supposed to. Here’s the way it works: federal law requires each state to collect unemployment insurance contributions from employers and deposit them into a state trust fund held in the treasury. During good times, the trust funds accumulate reserves so that claims can be paid out during downturns. This makes the program countercyclical, helping to pump money into workers’ pockets and therefore businesses (via their spending) when times are tough.

Aug 07 2012

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: Business Fears the Fiscal Cliff

So it turns out that federal spending is important to the economy after all.

As Nelson Schwartz reported in The Times on Monday, a number of manufacturers say they are canceling plans for investing and hiring, in part, because they fear that some $100 billion in budget cuts will take effect in 2013. In all, the law currently calls for $1.2 trillion in automatic spending cuts over 10 years, starting Jan. 1, divided between nondefense programs and defense projects.

Republican lawmakers demanded the cuts last year as part of their brinkmanship over the debt ceiling, and business lobbies have generally supported slashing the deficit. But now that the cuts are imminent, corporate executives seem to have realized that the last thing the economy needs is a large budget cut across the board.

Gore Vidal: Gore Vidal Speaks Seriously Ill of the Dead

The following was first published March 20, 2008 at Truthdig

I can recall that day in the 1930s when a “news” (sic) magazine appeared in Washington, D.C.; it was called Newsweek: meant to be a counterbalance to Time Magazine’s uncontrollable malice. In due course the two became sadly alike as Vincent Astor morphed into Henry Luce: Was it something in the water? I once asked Henry Luce why he called Time a news magazine when it was simply Uncle Harry’s means of venting his rage (this was 1960 or so) at liberals, and “degenerate art” like the plays of Tennessee Williams-he had no answer. At Newsweek Vincent Astor was far too stupid to answer any such complaint. Now here we are in the Newsweek of 2008, and it’s still lousy. There have been a few decent writers in between that were less nutty than today’s Newsweek hacks. [..]

The unique mess that our republic is in can be, in part, attributed to a corrupt press whose roots are in mendacious news (sic) magazines like Time and Newsweek, aided by tabloids that manufacture fictional stories about actual people. This mingling of opinion and fiction has undone a media never devoted to truth. Hence, the ease with which the Republican smear-machine goes into action when they realize that yet again the party’s permanent unpopularity with the American people will cause them defeat unless they smear individually those who question the junk that the media has put into so many heads. Anyone who says “We gotta fight ’em over there or we’re gonna have to fight ’em over here.” This absurdity has been pronounced by every Republican seeking high office. The habit of lying is now a national style that started with “news” magazines that was further developed by pathological liars that proved to be “good” Entertainment on TV. But a diet of poison that has done none of us any good.

I speak ex cathedra now, ad urbe et orbe, with a warning that no society so marinated in falsity can long survive in a real world.

Jim Hightower: Turning College Students Into Commodities

Let’s take a trip deep into the magic kingdom of “Laissez Fairyland” and prostrate ourselves before the infallible and inscrutable force known as the free market.

While this awesome deity cannot be seen, the high priests of free-market fundamentalism insist that we mere mortals must simply have faith that its mysterious workings are always in our best interest. Yeah, sure, your holiness. We saw how well that worked out for us wandering pilgrims after you true believers deregulated Wall Street, which then crashed on our streets.

Well, get ready. Free-market purists want us to have another ungodly religious encounter with their omnipotent deity. Looking at America’s trillion-dollar student debt crisis, these spiritualists had a burning-bush revelation.

The crisis can be healed by letting the magic market (aka Wall Street) lay its hands on the funding of college education. Get the government out of the student loan business, they preach, and let global speculators invest directly in students by covering their tuition. In other words, turn students into just another Wall Street commodity to be purchased by the wealthy.

George Zornick: Media Help Advance Romney’s Lies About Ohio Early Voting

This weekend, Republican presidential candidate Mitt Romney launched on attack an the Obama campaign that is unambiguously based on a lie. On his Facebook page, Romney posted a note directly accusing the re-election effort of working to undermine the voting rights of military members in Ohio: [..]

The background is that, while all Ohio voters used to enjoy in-person early voting privileges for three days, Republicans in the state legislature this year restricted that right to military members only. The Obama campaign subsequently filed a lawsuit asking that the privileges be extended to all voters: [..]

Yet many mainstream political reporters are unable or unwilling to discern that a lie has been told, and say so in their reporting. Eric Alterman recently described the pernicious so-called “even-handedness” of much of the political press, and it’s on display in no clearer fashion than in this case-there is zero room for interpretation about what the Obama campaign lawsuit seeks.

John Nichols: Shootings at Sikh Temple Test the Founding Faith of America

As Americans mourn the killings at the Sikh gurdwara in Oak Creek, Wisconsin, it is vital to remember the real history of religious freedom in America.

And to embrace it.

This is about something very different from the cheap sloganeering of those who would blur lines of separation between church and state and use the promise of freedom to worship as an excuse to discriminate against others. The vision advanced today by right-wing politicians-who cloak themselves in a Constitution they do not seem to have read very closely-often imagines America as “a Christian nation.” But that characterization is at odds with the ideal of the founders, who enacted religious freedom protections “meant to comprehend, within the mantle of [their] protection, the Jew and the Gentile, the Christian and Mahometan, the Hindoo, and infidel of every denomination.” Jefferson was fascinated by the great religions of the world. He was not just aware of them. He searched out copies of the holy texts of Islam, Judaism, Hinduism and other religions, and he consulted them when preparing core documents of the American experiment. He and the most enlightened of his comrades wanted America to protect and welcome the practitioners of those faiths.

Of course, Jefferson wanted future American presidents and political leaders to share his recognition that the “wall of separation” between church and state was designed to prevent favoritism for one doctrine or faith over another.

But he also wanted America to be a welcoming place for the followers of all faiths. And he wanted the believers in Muslims, Hindus, Jews, Christians and, yes, Sikhs to be safe from threats and violence.

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