Tag: TMC Politics

Punting the Pundits

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

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

Follow us on Twitter @StarsHollowGzt

Glenn Greenwald: On the Espionage Act charges against Edward Snowden

Who is actually bringing ‘injury to America’: those who are secretly building a massive surveillance system or those who inform citizens that it’s being done?

Prior to Barack Obama’s inauguration, there were a grand total of three prosecutions of leakers under the Espionage Act (including the prosecution of Dan Ellsberg by the Nixon DOJ). That’s because the statute is so broad that even the US government has largely refrained from using it. But during the Obama presidency, there are now seven such prosecutions: more than double the number under all prior US presidents combined. How can anyone justify that?

For a politician who tried to convince Americans to elect him based on repeated pledges of unprecedented transparency and specific vows to protect “noble” and “patriotic” whistleblowers, is this unparalleled assault on those who enable investigative journalism remotely defensible? Recall that the New Yorker’s Jane Mayer said recently that this oppressive climate created by the Obama presidency has brought investigative journalism to a “standstill”, while James Goodale, the General Counsel for the New York Times during its battles with the Nixon administration, wrote last month in that paper that “President Obama will surely pass President Richard Nixon as the worst president ever on issues of national security and press freedom.” Read what Mayer and Goodale wrote and ask yourself: is the Obama administration’s threat to the news-gathering process not a serious crisis at this point?

Paul Krugman: Et Tu, Bernanke?

For the most part, Ben Bernanke and his colleagues at the Federal Reserve have been good guys in these troubled economic times. They have tried to boost the economy even as most of Washington seemingly either forgot about the jobless, or decided that the best way to cure unemployment was to intensify the suffering of the unemployed. You can argue – and I would – that the Fed’s activism, while welcome, isn’t enough, and that it should be doing even more. But at least it didn’t lose sight of what’s really important.

Until now.

Leonard Pitts, Jr.: Leonard Pitts Jr.: We’re surrendering our civil liberties

It will not be with guns.

If ever tyranny overtakes this land of the sometimes free and home of the intermittently brave, it probably won’t, contrary to the fever dreams of gun rights extremists, involve jack-booted government thugs rappelling down from black helicopters. Rather, it will involve changes to words on paper many have forgotten or never knew, changes that chip away until they strip away precious American freedoms.

It will involve a trade of sorts, an inducement to give up the reality of freedom for the illusion of security. Indeed, the bargain has already been struck.

Juan Cole: So When Will Dick Cheney Be Charged With Espionage?

The US government charged Edward Snowden with theft of government property and espionage on Friday. [..]

Charging leakers with espionage is outrageous, but it is par for the course with the Obama administration.

The same theory under which Edward Snowden is guilty of espionage could easily be applied to former vice president Dick Cheney. [..]

What Cheney did in ordering his aides Scooter Libby and Karl Rove to release the information about Plame’s identity was no different from Snowden’s decision to contact the press.

And yet, Cheney mysteriously has not been charged with Espionage. Hmmm….

New York Times Editorial Board: More Overreach by the N.Y.P.D.

The revelation in 2011 that the New York City Police Department was spying on law-abiding Muslims rightly attracted scrutiny from the Justice Department, which announced last year that it intended to review the program. The disclosure also raised troubling questions about whether the city was violating a federal court order that bars it from retaining information gleaned from investigations of political activity unless there are reasonable indications of potential wrongdoing. The purpose of that order was to discourage unjustified surveillance and prevent police from peering into people’s private affairs and building dossiers on them without legitimate cause.  [..]

Police Commissioner Raymond Kelly has responded to such complaints by insisting that the department’s surveillance program is perfectly legal and implying that critics are undermining public safety. This is the same response he offers when challenged on the stop-and-frisk program. This arrogant approach tries to discredit legitimate criticism while justifying further overreach by a department with a history of abusive behavior. It is up to the courts to determine whether the Muslim surveillance program and the stop-and-frisk program are constitutional. What already seems clear is that these surveillance policies create suspicion and mistrust, which does not help the Police Department or anyone else.

Robert M. Morgenthau: Let Shooting Victims Sue

In 2004, relatives of eight people shot in the Washington-area sniper attacks received $2.5 million dollars from the maker and seller of the rifle used in those shootings. That was a matter of simple justice. But the gun lobby had no use for that kind of justice. They went to work and, the next year, Congress passed the Protection of Lawful Commerce in Arms Act, severely reducing the legal liability of gun manufacturers, distributors and dealers for reckless acts that send guns to the black market. The National Rifle Association called it “the most significant piece of pro-gun legislation in 20 years.”

This kind of legislation encourages arms dealers to turn a blind eye to the lethal consequences of what they peddle, and rewards their breathtaking irresponsibility. [..]

The Second Amendment right to bear arms is an important right. But the contours of that right must not extend to those who look away as their guns enter the hands of criminals and the mentally unstable. Congress should immediately repeal the 2005 gun immunity law, and let free-market incentives encourage responsible behavior by the gun industry.

Edward Snowden Has Left Hong Kong: Up Date

Up Date: Fugitive Snowden seeks asylum in Ecuador: foreign minister

Ecuadorean Foreign Minister Ricardo Patino, visiting Vietnam, tweeted: “The Government of Ecuador has received an asylum request from Edward J. #Snowden.”

NSA whistleblower, Edward Snowden has left Hong Kong arriving in Moscow aboard a commercial flight, presumably on his way to a third country for asylum.

In a statement, WikiLeaks said the 30-year-old was heading to a democratic country “via a safe route” for asylum purposes and that the organisation was assisting at his request. Snowden had been in hiding in Hong Kong since identifying himself as the source of revelations on US surveillance programmes.

His flight from US authorities, which want to charge him with espionage, appeared set to continue with an onward flight west from Moscow to Havana on Monday. From there, various reports indicated that he would try to get to either Caracas or Quito.

The Hong Kong government said on Sunday he had left of his own accord “through a lawful and normal channel” and said the request filed by the US did not fully comply with legal requirements. Pointedly, it also said it wanted Washington to clarify Snowden’s claims that the US had hacked targets in the territory.

He was accompanied by one of Julian Assange’s closest advisers, Sarah Harrison.

On Friday, Snowden was charged with espionage under the 1917 law. He becomes the eighth whistleblower to be charged under the act by the Obama administration, which has used the charge more than any other president.

Snowden, 29, is charged with theft of government property, unauthorised communication of national defence information and wilful communication of classified communications intelligence information to an unauthorised person, according to court documents.

The head of the NSA, Gen. Keith Alexander stated that Snowden has “caused irreversible damage to US.” This coming from the man who lied to congress and has admitted publicly that the surveillance had violated the Fourth Amendment.

Have I mentioned that David Gregory is a hack and an embarrassment for NBC?

Good luck to Mr. Snowden.

Punting the Pundits: Sunday Preview Edition

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

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

Follow us on Twitter @StarsHollowGzt

The Sunday Talking Heads:

Up with Steve Kornacki: On this Sunday’s Up the guests are Christina Bellantoni, politics editor, PBS NewsHour; Raul Reyes, contributor, NBCLatino.com, columnist, USA Today; Robert Costa, Washington editor, National Review; Rep. Hakeem Jeffries, (D) New York; Ana Marie Cox, political columnist, The Guardian; Chris Geidner, legal & senior political reporter, BuzzFeed.com; and Garance Franke-Ruta, senior editor, The Atlantic.

This Week with George Stephanopolis: Guests on “This Week” are:  NSA Director Gen. Keith Alexander; and Rep. Tulsi Gabbard (D-HI).

On the Foreign Policy Roundtable are: Christiane Amanpour, ABC News; Richard Haass, Council on Foreign Relations; and Dan Senor, Foreign Policy Initiative.

On the Politics Roundtable are: Rep. Joaquín Castro (D-TX); Rep. Mike Kelly (R-PA); Rebecca Jarvis, ABC News; and former “Car Czar” Steven Rattner.

Face the Nation with Bob Schieffer: Mr. Schieffer’s guests are Sen. Dianne Feinstein (D-CA); Sen. Bob Corker (R-TN); and Sen. Jeff Sessions (R-AL).

His roundtable guests are: Bobby Ghosh, TIME; Susan Page, USA Today; Gerald Seib Wall Street Journal; John Dickerson, CBS News; and Clarissa Ward, CBS News.

The Chris Matthews Show: On this Sunday’s panel are Chuck Todd, NBC News; Katty Kay, BBC; Kelly O’Donnell, NBC News; and David Ignatius, The Washington Post.

Meet the Press with David Gregory: This week’s guests on MTP are:  Sen. Dick Durbin (D-IL); Sen. Tom Coburn (R-OK); Rep. Mike Rogers (R-MI); and Rep. Loretta Sanchez (D-CA).

Siting in on the roundtable are: Former White House Press Secretary Robert Gibbs; GOP Strategist Mike Murphy; Atlanta Mayor Kasim Reed (D); Former CEO of Hewlett Packard, Carly Fiorina and Chuck Todd, NBC News.

State of the Union with Candy Crowley: Ms. Crowley’s guests are  Sen. Chuck Schumer (D-NY); Sen. Rand Paul (R-KY); Dan Balz, The Washington Post; Dana Bash, CNN; Democratic Strategist Stephanie Cutter; and GOP Strategist Kevin Madden

What We Now Know

On the week’s segment of Up with Steve Kornacki, Maggie Halberman, Politico; political strategist Basil Smikle;  Josh Barro, Business Insider; and Maya Wiley, Center for Social Inclusion discuss what they have learned this week.

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

Jonathan Turley: The Fantastic Feinstein: How To Make Privacy Disappear While Appearing To Defend It

Civil libertarians have long viewed Senator Dianne Feinstein (D.,CA) as a menace to privacy and civil liberties in her role on the  Senate Intelligence Committee. She has worked to blocked investigation of torture while supporting warrantless surveillance of our own citizens. Recently, many Californians became aware of her role in seeking ever-expanding powers for the security state. Feinstein desperately tried to get citizens to embrace a new model of privacy that allows for their continual surveillance in the latest scandals under her tenure. That has not worked particularly well so now Feinstein is taking a new approach: she is proclaiming her concern over the dangers of privacy posed by . . . drones. That’s right. Like the street magicians distracting an audience, Feinstein is trying to get citizens to focus on the use of drones for surveillance and promising some form of “regulation” in the future. The obvious intent behind yesterday’s carefully constructed scene was to present Feinstein in the light of a fighter for, rather than an attacker of, privacy rights. [..]

Feinstein appears to be taken advice from street magicians: [..]

I hear that her next trick will be to saw the Separation of Powers in half by further supporting the unchecked powers of the President.

Gary Younge: Is Obama Worse Than Bush? That’s Beside the Point

Obama’s transformation from national security dove to hawk is the norm: any president is captive to America’s imperial power

Not long after the story into the National Security Administration’s spying program broke, US president Barack Obama insisted the issues raised were worthy of discussion:

   “I welcome this debate and I think it’s healthy for our democracy. I think it’s a sign of maturity because probably five years ago, six years ago we might not have been having this debate.”

In fairly short order, a YouTube compilation appeared, showing Obama debating with himself as he matured. Flitting back and forth between Obama the candidate and the Obama the president, we see the constitutional law professor of yore engage with the commander-in-chief of today. [..]

What makes these clips so compelling is that they show not evolution, but transformation. On this issue, at least, Obama has become the very thing he was against. They’re not gaffes. These are brazenly ostentatious flip-flops. And regardless of how much they cost him, Obama has clearly no intention of taking them back.

Laura K. Donohue: NSA surveillance may be legal – but it’s unconstitutional

The National Security Agency’s recently revealed surveillance programs undermine the purpose of the Foreign Intelligence Surveillance Act, which was established to prevent this kind of overreach. They violate the Fourth Amendment’s guarantee against unreasonable search and seizure. And they underscore the dangers of growing executive power. [..]

Americans reasonably expect that their movements, communications and decisions will not be recorded and analyzed by the government. A majority of the Supreme Court seems to agree. Last year, the court considered a case involving 28-day GPS surveillance. Justice Samuel Alito suggested that in most criminal investigations, long-term monitoring “impinges on expectations of privacy.” Justice Sonia Sotomayor recognized that following a person’s movements “reflects a wealth of detail about her familial, political, professional, religious, and sexual associations.” [..]

Congress has an opportunity to create more effective checks on executive power. It could withdraw Sections 215 and 702 and introduce new measures to regulate intelligence collection and analysis. There are many options.

Richard (RJ) Eskow: ‘B.S. It’s What’s For Dinner’: Conservatives and Cattlemen Coddle Rich Kids, Stiff Seniors

I always liked those scenes in old Westerns where the ranchers get together to face a common threat to their livelihood, usually some greedy family dynasty that’s scheming with a big bank, railroad, or mining operation. The scene always starts the same way:

“Boys, we’ve got ourselves a problem!”

Organizations like the National Cattlemen’s Beef Association are supposed to help their members by making sure people can and do buy their products.  That’s why the NCBA created its famous ad campaign: “Beef. It’s what’s for dinner.”

So why aren’t they fighting the pro-rich-people austerity policies that are killing the market for beef?

Ralph Nader: Corporatizing National Security: What It Means

Privacy is a sacred word to many Americans, as demonstrated by the recent uproar over the brazen invasion of it by the Patriot Act-enabled National Security Agency (NSA). The information about dragnet data-collecting of telephone and internet records leaked by Edward Snowden has opened the door to another pressing conversation-one about privatization, or corporatization of this governmental function.

In addition to potentially having access to the private electronic correspondence of American citizens, what does it mean that Mr. Snowden-a low-level contractor-had access to critical national security information not available to the general public? Author James Bamford, an expert on intelligence agencies, recently wrote: “The Snowden case demonstrates the potential risks involved when the nation turns its spying and eavesdropping over to companies with lax security and inadequate personnel policies. The risks increase exponentially when those same people must make critical decisions involving choices that may lead to war, cyber or otherwise.”

David Sirota: Power Killer

This is a tale of two presidents-the one we hope we have and the one we actually have. It is also a tale of two kinds of violence-the surgical and the indiscriminate-and how the latter blurs the distinction between self-defense and something far more sinister.

This story began last year, when the White House told the New York Times that President Obama was personally overseeing a “kill list” and an ongoing drone bombing campaign against alleged terrorists, including American citizens. Back then, much of the public language was carefully crafted to reassure us that our country’s military power was not being abused. [..]

The unstated deal being offered to America was simple: Accept a president claiming unprecedented despotic authority in exchange for that president promising to comport himself as an enlightened despot-one who seeks to limit the scope of America’s ongoing violence.

Around the Blogosphere

 photo Winter_solstice.gifThe main purpose our blogging is to communicate our ideas, opinions, and stories both fact and fiction. The best part about the the blogs is information that we might not find in our local news, even if we read it online. Sharing that information is important, especially if it educates, sparks conversation and new ideas. We have all found places that are our favorites that we read everyday, not everyone’s are the same. The Internet is a vast place. Unlike Punting the Pundits which focuses on opinion pieces mostly from the mainstream media and the larger news web sites, “Around the Blogosphere” will focus more on the medium to smaller blogs and articles written by some of the anonymous and not so anonymous writers and links to some of the smaller pieces that don’t make it to “Pundits” by Krugman, Baker, etc.

We encourage you to share your finds with us. It is important that we all stay as well informed as we can.

Follow us on Twitter @StarsHollowGzt

This is an Open Thread.

The AMA has decided obesity is a disease but fail to acknowledge that the biggest cause of obesity is poor diet. Calories are the biggest cause of obesity but doctors very rarely ever talk to their patients about nutrition.

I wonder if the AMA would consider making violence against women a disease now that the WHO has reported that it’s “global health problem of epidemic proportions”

h/t lambert at Corrente who continues to update on ObamaCare Clusterf**k.

Kevin Gosztola at FDL The Dissenter has the up dates for Day 7 and Day 8 of Bradley Manning’s trial and reports that Edward Snowden has become the 8th person to be indicted for espionage by the Obama Justice Department.

At FDL Action, Jon Walker tells us how Senate Minority Leader, Mitch McConnell tried to scare Democrats by threatening to actually making the Senate functional. Harry Reid will never stand for that.

Just for laughs, Sen. McConnell thinks that a constitutional amendment that would establish that corporations are inhuman not people with constitutional rights is absurd. I guess he’s worried that the next amendment would be to deny human hybrid turtles the right to hold elected office.

At the FDL News Desk, DSWright has an open letter to the Secret Service regarding the Aaron Swartz file and tells us that sources are not talking to the Associated Press.

At Hullabaloo, digby said something:

One of the most laughable comments the NSA program supporters have been making is the one insisting that the FISA court is “transparent.” It’s rulings are secret as are the government’s interpretations of the law and those rulings. If that’s what we call due process these days, we might as well just officially institute a Star Chamber and call it a day.

Atrios wants to know if there is any reason that the defeat of the farm bill is bad news?

Oh Cool! The Rude Pundit think that “David Brooks is the Paula Deen of the Times” op-ed page and tears him a new one as only he can.

At Esquire’s Politics Blog, Charlie Pierce rips into President Obama for his ludicrous argument defending the transparency of the FISA court.

And the last words go to watertiger at Dependable Renegade for her tribute to James Gandolfini on his death at 51 from a sudden heart attack while on vacation in Italy:

And yet, Dick Cheney is still alive.

Only the good die young. R.I.P. James and Michael.

Punting the Pundits

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

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

Follow us on Twitter @StarsHollowGzt

Paul Krugman: Profits Without Production

One lesson from recent economic troubles has been the usefulness of history. Just as the crisis was unfolding, the Harvard economists Carmen Reinhart and Kenneth Rogoff – who unfortunately became famous for their worst work – published a brilliant book with the sarcastic title “This Time Is Different.” Their point, of course, was that there is a strong family resemblance among crises. Indeed, historical parallels – not just to the 1930s, but to Japan in the 1990s, Britain in the 1920s, and more – have been vital guides to the present.

Yet economies do change over time, and sometimes in fundamental ways. So what’s really different about America in the 21st century?

The most significant answer, I’d suggest, is the growing importance of monopoly rents: profits that don’t represent returns on investment, but instead reflect the value of market dominance. Sometimes that dominance seems deserved, sometimes not; but, either way, the growing importance of rents is producing a new disconnect between profits and production and may be a factor prolonging the slump.

New York Times Editorial Board: The Fed’s Next Move

The recent announcements by the Federal Reserve have generated huge interest – and, on Wall Street, a sell-off costing the Dow Jones industrial average more than 500 points in two days. Only six weeks ago, the Fed was talking about continued “downside risks to the economic outlook.” On Wednesday, however, it said these risks had diminished since last fall, and that it expected further improvement to drive the jobless rate down to 7 percent by mid-2014, at which point it would end its stimulative bond-buying programs. [.]]

The Fed is in a spot. If it continues its bond-buying programs, bubbles could form; but worse, if it ends the programs prematurely, economic weakness could persist and deepen.

The Fed chairman, Ben Bernanke, said that the plan could change as conditions warrant. That is reassuring. Still, the Fed can’t keep buying bonds forever. The real responsibility for boosting the economy lies with Congress, where Republicans have thwarted most attempts to spur growth, create jobs and strengthen the safety net, while successfully focusing the attention of the Obama administration on deficit reduction – exactly the wrong remedy for today’s economy.

Marcy Wheeler: Government Spying: Why You Can’t ‘Just Trust Us’

For proof that the current surveillance programs are ripe for abuse, Americans need only look at what preceded them.

Since we learned that the government has been collecting and storing Americans’ call data for years, Senate Intelligence Committee chair Dianne Feinstein; her counterpart in the House, Mike Rogers; and James Clapper, director of national intelligence, have been trying to claim it is not as bad as it sounds. The collection doesn’t include the content of communications, merely “metadata,” they argue, and anyway, the secret Foreign Intelligence Surveillance Act (FISA) court limits the circumstances under which the government can access this information. “The court only allows the data to be queried when there is a reasonable suspicion, based on specific facts, that the particular basis for the query is associated with a foreign terrorist organization,” says Clapper.

In other words, the government’s response amounts to “trust us.”

But Americans have good reason to distrust the program, which, according to The Washington Post, is called MAINWAY. That’s true not just because history reminds us that the government has abused surveillance authorizations in the past, as it did when it used COINTELPRO to spy on dissidents decades ago. It’s also true because one of the direct predecessors of this program proved ripe for abuse.

Dean Baker and David Rosnick: Do Wall Street and the 1 Percent Thrive at the Expense of Our Kids?

One of the most compelling lines put forward by those seeking cuts in Social Security and Medicare is that spending on the elderly is coming at the expense of our children. The people putting forward this argument typically point to the high percentage of children living near or below the poverty line. The argument is that if we could cut money for programs that primarily serve the elderly then we would free up money that could be spent to ensure that the young get a decent start on life.

There are many reasons this logic is faulty, most importantly by implying that there is any direct relationship between the money we spend on seniors and the money we spend on our children. Even if we were to cut funding for Social Security and Medicare there is no mechanism that ensures the money saved would go to helping children. It is entirely possible that the money would simply be diverted to tax cuts targeted to the wealthy or for some other purpose.

Stan Sorscher: “Free Trade” Was Never Really About Trade

First, let me say that I am 100% in favor of trade. Trade is when we do what we do best, they do what they do best, and we trade. Trade, done right, will raise living standards.

If trade is good, then free trade must be better, right? So consider this old joke about “free trade.”

   It’s not free.

   It’s not trade.

Twenty years after NAFTA we can add that it doesn’t work. It’s bad for millions of workers, families and communities around the world.

“Free trade” is not free. Our free trade policy encourages production to leave the country. We’ve lost millions of manufacturing jobs. More than 60,000 manufacturing plants were closed between 2000 and 2010 as production moved overseas. These costs are real.

Jim Hightower: Repeal the Patriot Act

It’s back. The Patriot Act – that grotesque, ever-mutating, hydra-headed monstrosity from the Bush-Cheney Little Shop of Horrors – has risen again, this time with an added twist of Orwellian intrusiveness from the Obamacans.

Since 2006, Team Bush, and then Team Obama, have allowed the little-known, hugely powerful National Security Agency to run a daily dragnet through your and my phone calls – all on the hush-hush, of course, not informing us spyees. Now exposed, leaders of both parties are piously pointing to the Patriot Act, saying that it legalized this wholesale, everyday invasion of our privacy, so we shouldn’t be surprised, much less upset by NSA’s surreptitious peek-a-boo program. [..]

It’s not enough to fight NSA’s outrageously invasive spying on us – the Patriot Act itself is a shameful betrayal of America’s ideals, and it must be repealed.

The Financial Crisis: The Ratings Agency Did It In The Back Room

Earlier this year, the Justice Department brought a $5 billion fraud law suit against the ratings agency Standard and Poors for knowingly giving triple “A” ratings to financial products the agency’s analysts understood to be unworthy. The financial crisis that began in 2007 was mostly caused by those fraudulent ratings. Senators Al Franken (D-MN) and Roger Wicker (R-MI) worked together on an amendment that was included in  Dodd-Frank (pdf) to bring accountability and transparency to the ratings process. The amendment also required that the Securities and Exchange Commission conduct a study, that study has been completed (pdf). It found that there were “inherent” conflicts of interest in the system contributed to the 2008 crisis.

Contributing editor and investigative journalist for Rolling Stone Matt Taibbi published an in depth look at the ratings agencies and how ratings agencies like Moody’s and Standard & Poor’s helped trigger the meltdown with new documents. The documents surfaced from two lawsuits that files against S&P by  a diverse group of institutional plaintiffs with King County, Washington, and the Abu Dhabi Commercial Bank. The plaintiffs claimed that S&P, along with Morgan Stanley, fraudulently induced them to heavily invest in a pair of doomed-to-implode subprime-laden deals. Matt calls these new revelations the “Last Mystery of the Financial Crisis:

What about the ratings agencies?

That’s what “they” always say about the financial crisis and the teeming rat’s nest of corruption it left behind. Everybody else got plenty of blame: the greed-fattened banks, the sleeping regulators, the unscrupulous mortgage hucksters like spray-tanned Countrywide ex-CEO Angelo Mozilo.

But what about the ratings agencies? Isn’t it true that almost none of the fraud that’s swallowed Wall Street in the past decade could have taken place without companies like Moody’s and Standard & Poor’s rubber-stamping it? Aren’t they guilty, too?

Man, are they ever. And a lot more than even the least generous of us suspected.

Thanks to a mountain of evidence gathered for a pair of major lawsuits, documents that for the most part have never been seen by the general public, we now know that the nation’s two top ratings companies, Moody’s and S&P, have for many years been shameless tools for the banks, willing to give just about anything a high rating in exchange for cash.

In incriminating e-mail after incriminating e-mail, executives and analysts from these companies are caught admitting their entire business model is crooked.

Matt joined MSNBC’s All In host Chris Hayes to discuss how these newly-revealed documents are “the smoking gun of the financial crisis” revealing the corruption and dishonesty at the core the industry.

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 Board: Prying Private Eyes

Whatever one thinks about Edward Snowden and his revelations about government snooping, the case has been a useful reminder of the extent to which the government has outsourced intelligence work to the private sector and the risks in doing so. [..]

It is highly doubtful, however, that American taxpayers are getting their money’s worth. The basic justification for outsourcing government work is to get a job done better and cheaper. Outsourcing intelligence does not appear to achieve either aim. At a Senate hearing on intelligence contractors in September 2011, a witness from the Project on Government Oversight, a watchdog group, cited research from 2008 showing that the government paid private contractors 1.6 times what it would have cost to have had government employees perform the work.

Eugene Robinson: This Will Not End Well

In Syria, the Obama administration seems to be stumbling back to the future: An old-fashioned proxy war, complete with the usual shadowy CIA arms-running operation, the traditional plan to prop up ostensible “moderates” whose prospects are doubtful and, of course, the customary shaky grasp of what the fighting is really about.

This will not end well.

It is tragic that more than 90,000 people have been killed in the bloody Syrian conflict, with more than a million displaced. But I have heard no claim that President Obama’s decision to arm the rebels will halt or even slow the carnage. To the contrary, sending more weapons into the fray will likely result in greater death and destruction, at least in the short term.

E. J. Dionne: Immigration: Time to Choose Sides

The future of immigration reform is, for now at least, not up to House Speaker John Boehner. It is in the hands of a group of moderately conservative Republican senators who have to decide whether their desire to solve a decades-old problem outweighs their fears of retaliation from the party’s right wing.

These senators are clearly looking for a way to vote for a bill that is the product of excruciating but largely amicable negotiations across partisan and ideological barriers. But these Republicans-they include Bob Corker, John Hoeven, Susan Collins, Dean Heller and Rob Portman-want enough changes in the measure’s border security provisions so they can tell tea party constituents that they didn’t just go along with a middle-of-the-road consensus.

Jared Berstein: CBO Scores the Immigration Reform Bill and Finds… (Wait for It)… It Reduces the Deficit

Well, would you look at that: CBO just released their analysis of the fiscal impact of the immigration reform legislation from the Senate and it turns out that the bill is expected to lower the budget deficit by $197 billion over the next decade.

That means that opponents who wanted to make the case that comprehensive reform of our current “system” would be a net cost — e.g., the Heritage folks — just got some pretty bad news. [..]

What’s going on here is that the budget agency expects immigration to generate more costs but even more revenues. Between health programs, entitlements, SNAP, etc., they expect spending to go up about $260 billion over the next ten years. But they estimate revenues to go up about $460 billion. The net difference, about $200 billion, is the projected impact on the deficit.

Richard (RJ) Eskow: The Looting of Detroit

Nearly 100 years ago two young Detroit girls visited a now-vanished island park that had a dance pavilion, amusement rides, and swimming, and wrote that they were “having fun” on a piece of paper. Then they put the paper in a bottle and tossed it into the St. Clair River, where a diver found it last June.

They wouldn’t recognize the place today. Detroit, which grew and prospered for much of the last century, has become a wasteland of abandoned buildings, lawlessness, and municipal debts.

Somebody’s going to pay for that.

It’s not going to be the politicians whose decisions undermined Detroit.  And it’s not going to be the industrial and financial executives who made bad decisions, yet retired with their full pensions and portfolios.

Robert Sheer: The Terror Con

For defense contractors, the government officials who write them mega checks, and the hawks in the media who cheer them on, the name of the game is threat inflation. And no one has been better at it than the folks at Booz Allen Hamilton, the inventors of the new boondoggle called cyberwarfare.

That’s the company, under contract with the National Security Agency, that employed whistle-blower Edward Snowden, the information security engineer whose revelation of Booz Allen’s enormously profitable and pervasive spying on Americans now threatens the firm’s profitability and that of its parent hedge fund, the Carlyle Group.

The Most Powerful Man You Never Heard Of

Meet the most powerful man you’ve never heard of until recently, Gen. Keith B. Alexander,  Director of the National Security Agency (DIRNSA)and Chief of the Central Security Service (CHCSS) since August 1, 2005 and Commander of the United States Cyber Command since  May 21, 2010. He is a four star general in the United States Army and, according to Wikipedia, plans to retire in 2014, which may not be soon enough for some. Did I mention that he is also a proven liar? So, when he says, as he did, without any evidence, before the House Permanent Select Committee on Intelligence, that 50 terrorist attack were thwarted by the contested programs of the NSA take it with a large grain of salt.

Chris Hayes, host of MSNBC’s “All In,” looks at Gen. Alexander’s tenure over the NSA with James Bamford and explains why he may be the most powerful man in Washington that you have yet to hear of.

Transcript can be read here

“We jokingly referred to him as Emperor Alexander, because whatever Keith wants, Keith gets.”

The Secret War

by James Bradford, Wired

Infiltration, sabotage, mayhem, for years, four star general Keith Alexander has been building a secret army capable of launching devastating cyberattacks. Now it;s rady to unleash hell.

Inside Fort Meade, Maryland, a top-secret city bustles. Tens of thousands of people move through more than 50 buildings-the city has its own post office, fire department, and police force. But as if designed by Kafka, it sits among a forest of trees, surrounded by electrified fences and heavily armed guards, protected by antitank barriers, monitored by sensitive motion detectors, and watched by rotating cameras. To block any telltale electromagnetic signals from escaping, the inner walls of the buildings are wrapped in protective copper shielding and the one-way windows are embedded with a fine copper mesh.

This is the undisputed domain of General Keith Alexander, a man few even in Washington would likely recognize. Never before has anyone in America’s intelligence sphere come close to his degree of power, the number of people under his command, the expanse of his rule, the length of his reign, or the depth of his secrecy. A four-star Army general, his authority extends across three domains: He is director of the world’s largest intelligence service, the National Security Agency; chief of the Central Security Service; and commander of the US Cyber Command. As such, he has his own secret military, presiding over the Navy’s 10th Fleet, the 24th Air Force, and the Second Army.

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