Friday, November 28, 2008

Lou Dobbs doesn't want to deal with his own culpability for hate crimes from Crooks and Liars


Lou Dobbs distorts on hate crimes
icon Download | Play   icon Download | Play [h/t Heather]

The recent attention paid to a notorious Long Island hate crime in which a group of young whites went in search of Latinos to harm has raised serious questions about the relationship between immigrant-bashing rhetoric and the surge of anti-Latino bias crimes nationally.

And the mainstream purveyors of this rhetoric -- particularly pundits like Bill O'Reilly and Lou Dobbs -- are denying their culpability in the only means available to them: By distorting the reality of hate crimes themselves.

In O'Reilly's case, this entailed conflating hate crimes with ordinary (and completely unrelated) crimes.

And in Dobbs', as we saw on his Monday program, it entails distorting statistics and pretending that he's never bashed or demonized Latinos on his CNN show:

rest at http://crooksandliars.com/david-neiwert/lou-dobbs-doesnt-want-deal-his-own-c

The Infuriating New Face Of Poverty [We Hate Your Kids] from Gawker

What a sad post; via http://gawker.com/5099094/the-infuriating-new-face-of-poverty - very well done over at Gawker.

26moms.600.jpg At left is a picture the Times is running on A1 this morning, the day before Thanksgiving. It depicts a Florida mom showing off all the useless crap she was able to scrounge for daughter McKenna (!), like a fake plastic kitchen, thanks to a "noble sacrifice" this year: The mom will bravely go without this season's new designer jeans, according to the accompanying story. Notice that she seems to be nicely up-to-date with last season's pricey denim; that she is standing in a garage larger than many apartments; that it seems to be furnished with an operative extra refrigerator; and that discarded toys (from prior Christmases?) are plainly visible in plastic boxes in the background. This typifies sacrifice in America today? The coming depression is so going to eat the nation alive, and the world will laugh, because we deserve it.

In America, reports the Times, mothers (JUST like this one!) are cutting back on their all-important clothes-shopping trips (down a whopping 18 percent, jeepers!) and using "online tools to organize meetings with other mothers to swap clothing, toys, video games and books. Others are buying DVDs and video games in bulk from warehouse stores like BJ's Wholesale Club, then taking the sets apart to create multiple gifts."

Sounds intense. What do mothers spend their time frantically worrying about elsewhere? Buying that Doodle Pro or Mortal Kombat disk in time for Ramadan or whatever? Not quite:

Her friend rushed over to help her, struggling to wipe the liquid away, when she too was showered with acid. She covered her face, crying out for help as they sprayed her again, trying to aim the acid into her face. The weapon was a water bottle containing battery acid; the result was at least one girl blinded and two others permanently disfigured. Their only crime was attending school.

It was not an isolated incident. For women and girls across Afghanistan, conditions are worsening — and those women who dare to publicly oppose the traditional order now live in fear for their lives.

read the rest at http://gawker.com/5099094/the-infuriating-new-face-of-poverty

Government Bailout Hits $8.5 Trillion from AfterDowningStreet.org

Graphic: Table of Bailout Funds Committed and Expended So Far

The federal government committed an additional $800 billion to two new loan programs on Tuesday, bringing its cumulative commitment to financial rescue initiatives to a staggering $8.5 trillion, according to Bloomberg News.

That sum represents almost 60 percent of the nation's estimated gross domestic product.

Given the unprecedented size and complexity of these programs and the fact that many have never been tried before, it's impossible to predict how much they will cost taxpayers. The final cost won't be known for many years.

The money has been committed to a wide array of programs, including loans and loan guarantees, asset purchases, equity investments in financial companies, tax breaks for banks, help for struggling homeowners and a currency stabilization fund.

Most of the money, about $5.5 trillion, comes from the Federal Reserve, which as an independent entity does not need congressional approval to lend money to banks or, in "unusual and exigent circumstances," to other financial institutions.

To stimulate lending, the Fed said on Tuesday it will purchase up to $600 billion in mortgage debt issued or backed by Fannie Mae, Freddie Mac and government housing agencies. It also will lend up to $200 billion to holders of securities backed by consumer and small-business loans. All but $20 billion of that $800 billion represents new commitments, a Fed spokeswoman said.

About $1.1 trillion of the $8.5 trillion is coming from the Treasury Department, including $700 billion approved by Congress in dramatic fashion under the Troubled Asset Relief Program.

The rest of the commitments are coming from the Federal Deposit Insurance Corp. and the Federal Housing Administration.

Only about $3.2 trillion of the $8.5 trillion has been tapped so far, according to Bloomberg. Some of it might never be.

Relatively little of the money represents direct outlays of cash with no strings attached, such as the $168 billion in stimulus checks mailed last spring.

Where it's going

rest at http://www.afterdowningstreet.org/node/37941

Rachel Maddow Show: Republicans Blaming the Workers for the Problems at GM, Ford and Chrysler from Crooks and Liars

via http://videocafe.crooksandliars.com/heather/rachel-maddow-show-republicans-blaming-wor

Rachel Maddow talks to Ron Gettlefinger from the UAW about the demonization of union workers and the attempt by the right to blame the auto workers for the problems at GM, Ford and Chrysler. The chattering class on cable news has done its best to tout the Republican party line and scare everyone to death about the dangers of unionization when unions are our last front in trying to prevent a complete race to the bottom in this country, and Rachel's right, it is class warfare. The ones who have been winning that war are desperate to maintain the status quo. Look for this fight to get louder and uglier if they try to get the Employee Free Choice Act through the Congress again.

video and rest at http://videocafe.crooksandliars.com/heather/rachel-maddow-show-republicans-blaming-wor

Lieberman Donated to GOPs: Gordon Smith, Peter King from Firedoglake


rt_lieberman_070511_070511_msthumbnail.thumbnail.jpg

Five weeks before Jeff Merkley spoke of the Obama spirit of reconciliation during the Senate Democratic caucus meeting that eventually voted 42-13 to allow Joe Lieberman to keep his Homeland Security and Governmental Affairs Committee gavel, Lieberman donated $5,000 to incumbent Oregon GOP Senator Gordon Smith's reelection

Lieberman's support of Sen. John McCain (R-Ariz.) for the presidency was well known, punctuated by his nationally televised speech at the Republican National Convention in St. Paul criticizing Obama as not prepared to be president. His endorsement of Sen. Susan Collins (R-Maine), who has served as the top Republican beside him at the Homeland Security and Governmental Affairs Committee, also was well known in Democratic circles.

But not even Merkley knew of Lieberman's backing of Smith in their critical Senate race, until Capitol Briefing alerted his staff today.

"We were surprised to hear this news, but it's time to put the election behind us. Jeff Merkley is looking forward to working with all his new colleagues on an agenda that will put our nation back on track," said Julie Edwards, spokeswoman for Merkley.

rest at http://campaignsilo.firedoglake.com/2008/11/26/lieberman-donated-to-gops-gordon-smith-peter-king/

Lieberman contributed to GOP Senate and House candidates. from Think Progress

via http://thinkprogress.org/2008/11/26/lieberman-gop-donate/

The fact that Sen. Joe Lieberman (I-CT) supported Sen. John McCain (R-AZ) in the presidential election is well-known. However, the Washington Post reports today that Lieberman was also supporting at least four Republican lawmakers. His Reuniting our Country PAC gave $5,000 to Sen. Gordon Smith (R-OR) and another $5,000 to Rep. Peter King (R-NY) in October. He wrote an op-ed in the St. Pioneer Press defending Sen. Norm Coleman (R-MN), and publicly endorsed and contributed to the re-election of Sen. Susan Collins (R-ME). More recently, Lieberman has said that he fears "America will not survive" if Democrats receive a filibuster-proof majority.

Jury convicts mom of lesser charges in online hoax


Mom, daughter lodged net campaign that drove teen nemesis to suicide.

LOS ANGELES – A Missouri mother on trial in a landmark cyberbullying case was convicted Wednesday of only three minor offenses for her role in a mean-spirited Internet hoax that apparently drove a 13-year-old girl to suicide.

The federal jury could not reach a verdict on the main charge against 49-year-old Lori Drew — conspiracy — and rejected three other felony counts of accessing computers without authorization to inflict emotional harm.

Instead, the panel found Drew guilty of three misdemeanor offenses of accessing computers without authorization. Each count is punishable by up to a year in prison and a $100,000 fine. Drew could have gotten 20 years if convicted of the four original charges.

U.S. District Judge George Wu declared a mistrial on the conspiracy count. There was no immediate word on whether prosecutors would retry her.

"I don't have any satisfaction in the jury's decision," said Drew's lawyer, Dean Steward. "I don't think these charges should have ever been brought."

Tina Meier, the mother of the dead girl, said Drew deserves the maximum of three years behind bars.

"For me it's never been about vengeance," she said. "This is about justice."

rest at http://news.yahoo.com/s/ap/20081126/ap_on_re_us/internet_suicide


The U.S. Treasury Market Reaches Breaking Point; 20 Percent of Trading Volume Represents “Fails” or Bonds That Will not Be Delivered on Schedule from cryptogon.com

This is THE core process that animates the entire zombie money system… I'm at a bit of a loss to think of applicable analogies that might describe the failure of this mechanism.

Have you ever seen a top fuel dragster explode at maximum throttle? That's my best guess.

Via: Euromoney:

The US treasury market reaches breaking point

Tuesday, November 25, 2008
The US treasury market reaches breaking point
by Helen Avery

As attention focuses on the treasury market's ability to cope with the US's growing funding needs, Euromoney reveals the structural issue that could cause the world's market of last resort to grind to a halt in its hour of greatest need.

The problem: the settlement system for the US government bond market has broken down

THE US TREASURY market, the foundation of government bond and corporate bond markets worldwide, is suffering a crisis of confidence at the worst possible moment. Investors in treasuries are the lenders enabling the US government bail-out of the country's broken financial institutions. That leaves them financing purchases of equity of volatile and highly questionable worth and backing a ragbag of distressed assets. For now, treasury yields are at record lows across the term structure as investors with cash to invest conclude that they can trust no one else with their money. But investors must wonder at what point the expanded supply of government debt and its use will make the borrower inherently less creditworthy.

There is an even more pressing concern for many participants in this increasingly swollen market: the settlement system has broken down. Following the collapse of Lehman Brothers in September, fails to deliver among the 17 primary dealers in the US treasury market have rocketed to more than $2 trillion over a period of weeks and still lie above $1.3 trillion. Broker/dealers have stopped delivering bonds. Holders of US treasuries are now scared to lend into the repo market in case their bonds are not returned, and potential buyers sit on the sidelines fearful of handing over their money to a counterparty that at best might not deliver a bond on time, and at worst might go under.

rest at http://cryptogon.com/?p=5309

Executive Compensation: Tax Them Into the Ground from Firedoglake


by Admit One

by Admit One

The executive compensation debate is beyond tiresome and beyond stupid.  It's not hard to rein in executive compensation, all you have to do is decide what the maximum pay you want someone to be able to receive is and tax most of the rest of it away.  The simplest thing is to just count all income equally, tax it all at the same rate, don't allow deductions beyond a certain level (50K or so) and tax all income above, say 1 million at 90%, 95% for all income above 5 million.  Don't allow too much income deferral and there you go. Slap on some "in kind" rules for corporations (yes, if your corporation pays for your car, that's salary) and while there will always be loopholes, you'll still rein in the worst excesses.

Yes, this will effect a few other people, such as sports celebrities.  Oh well.  Yes, the Chamber of Commerce, reliable right wing hacks that they are, will scream about how the best people need ridiculous salaries, but if the "best people" are the folks who brought us this economic disaster maybe what we need is for companies to be run by second raters who don't see their job as looting the place to the ground in order to earn the highest bonuses.

And that's the bottom line.  As long as executives know that in 5 years they can make so much money they'll never need to work again, they won't take care to make sure that their business is long-term viable.  Rule #1 of designing incentive systems isn't "more money equals better performance" it's "match incentives to the behaviour you want."  If you want an economy that doesn't have bubbles, don't pay people for creating bubbles, pay them for long term steady growth, paying high salaries and creating new jobs.

rest at http://firedoglake.com/2008/11/26/executive-compensation-tax-them-into-the-ground/

China: Emergency Rate Cuts, Riots, Factory Workers Fired by the Millions from cryptogon.com by Kevin

Via: Telegraph:

Today, around 500 protesters rioted at the Kai Da toy factory in Dongguan in the Pearl River delta, flipping over a police car and trashing computers in a dispute over payoffs to 80 fired workers. Tens of thousands of factories across the region have already shut their gates.

Yin Weimin, China's Social Security minister, has revealed that employment is the Communist Party's number one concern in the downturn and said the "situation is critical". Unemployment is expected to rise from 4pc to 4.5pc by the end of the year and anecdotal reports have suggested that 3m people have already been fired in the industrial province of Zhejiang alone.

Two major provinces, Shandong and Hubei, have already responded by banning companies from firing staff without permission from the government.

The Chinese government has also announced a £373bn bailout to stimulate domestic growth by investing in infrastructure. However, only a fifth of the money is likely to come from central government coffers, with the rest coming from a mix of private enterprise and local government funds.

rest http://cryptogon.com/?p=5316

The Real Truth behind the Citigroup Bank Nationalization

Citigroup Abyss

The Real Truth behind the Citigroup Bank Nationalization

By F. William Engdahl, 24 November 2008

On Friday November 21 the world came within a hair's breadth of the most colossal financial collapse in world history according to bankers on the inside of events with whom we have contact. The trigger was the bank which only two years ago was America's largest, Citigroup. The size of the US Government de facto nationalization of the $2 trillion banking institution is an indication of shocks yet to come in other major US and perhaps European banks thought to be 'too big to fail.'

The clumsy way in which US Treasury Secretary Henry Paulson, himself not a banker but a Wall Street 'investment banker', whose experience has been in the quite different world of buying and selling stocks or bonds or underwriting and selling same, has handled the unfolding crisis has been worse than incompetent. It has made a grave situation into a globally alarming one.

'Spitting into the wind'

A case in point is the secretive manner in which Paulson has used the $700 billion in taxpayer funds voted him by a labile Congress in September. Early on Paulson put $125 billion in the nine largest banks, including $10 billion for his old firm, Goldman Sachs. However, if one compared the value of the equity share that $125 billion bought with the market price of those banks' stock, US taxpayers have paid $125 billion for bank stock that a private investor could have bought for $62.5 billion, according to a detailed analysis from Ron W. Bloom, an economist with the US United Steelworkers union, whose workers face devastating job losses were GM to fail.

rest at http://www.engdahl.oilgeopolitics.net/Financial_Tsunami/Citigroup_Abyss/citigroup_abyss.html

2009: Titanic Shocks and Changes to the Global Order of a Scale Perhaps Not Experienced in the Past Five Centuries from cryptogon.com

from http://cryptogon.com/?p=5318

Via: Engdahl:

What neither Paulson nor anyone in Washington is willing to reveal is the real truth behind the Citigroup bailout. By his and the Republican Bush Administration's adamant earlier refusal to take an initial resolute action to immediately nationalize the nine or so largest troubled banks and reorganize the assets into some form of 'good bank' and 'bad bank,' similar to what the Government of Sweden did with what it called Securum, during its banking crisis in the early 1990's, allowing the healthy banks to continue lending to the real economy so the economy could continue operating, while the State merely sat on the undervalued real estate assets of the Swedish banks for some months until the recovering economy made the assets again marketable to the private sector, Paulson and his 'crony capitalists' have turned a bad situation into a globally catastrophic one.

His apparent realization of the error of his initial refusal to nationalize, deeming it in effect 'un-American' came too late. When Paulson reversed policy on September 19 and presented the nine largest banks with an ultimatum to accept partial Government equity ownership, abandoning his original bizarre plan to merely buy up the toxic waste asset-backed securtities of the banks with his $700 billion TARP taxpayer money, he never revealed why.

Under the original Paulson Plan, as Dimitri B. Papadimitriou and Research Scholar L. Randall Wray of the respected Jerome Levy Institute at Bard College in New York point out, Paulson sought to create a situation in which the US 'Treasury would become an owner of troubled financial institutions in exchange for a capital injection—but without exercising any ownership rights, such as replacing the management that created the mess. The bailout would be used as an opportunity to consolidate control of the nation's financial system in the hands of a few large (Wall Street) banks, with government funds subsidizing purchases of troubled banks by "healthy" ones.'

Paulson soon realized the scale of crisis, largely triggered by his inept handling of the Lehman Brothers case, had created an impossible situation. Were Paulson to use the $700 billion to buy up toxic waste ABS assets from the select banks at today's market price, the $700 billion would be far too little to take an estimated $2 trillion ($2,000 billion) in Asset Backed Securities off the books of the banks. The Levy Economics Institute states, 'It is probable that many and perhaps most financial institutions are insolvent today — with a black hole of negative net worth that would swallow Paulson's entire $700 billion in one gulp.'

That reality is the real reason Paulson was forced to abandon his original 'crony bailout' TARP plan and opt to use some of his money to buy equity shares in the nine largest banks. That scheme as well is 'dead on arrival.' The dilemma he has created with his inept handling of the crisis is simple: If the US Government paid the true value for these nearly worthless assets, the banks would have to write down huge losses, and, as Levy economists put it, 'announce to the world that they are insolvent.' On the other hand, if Paulson raised the toxic waste purchase price high enough to protect the banks from losses, $700 billion 'will buy only a tiny fraction of the 'troubled' assets.' That is what the latest nationalization of Citigroup is about.

It is only the beginning. The 2009 year will be one of titanic shocks and changes to the global order of a scale perhaps not experienced in the past five centuries. This is why we speak of the end of the American Century and its Dollar System.


Jonathan Turley on The Rachel Maddow Show: We're all complicit in Bush's war crimes if we ignore them from Crooks and Liars


Maddow & Turley on Torture
icon Download | Play   icon Download | Play

As David already discussed, constitutional-law expert Jonathan Turley joined Rachel last night to discuss the fate of top Bush administration figures involved in "harsh interrogation techniques." The White House has indicated that Bush will not be issuing blanket pardons, but the Wall Street Journal later reported that that's because it's "unnecessary" to do so.

Turley makes a critical point in the interview -- namely, that the moral burden of torture is on the backs of each one of us until these people are brought to justice. And it will be profoundly immoral to let them go:

"We have third world countries that when they have found that their leaders committed torture war crimes, they prosecuted them. But the most successful democracy in history is just, I think, about to see war crimes, do nothing about it. And that's an indictment not just of George Bush and his administration. It's the indictment of all of us if we walk away from a clear war crime and say it's time for another commission."


rest http://crooksandliars.com/silentpatriot/jonathan-turley-rachel-maddow-show-w

Americans’ Food Stamp Use Nears All-Time High from cryptogon.com by Kevin

This may sound strange, but there's a lot of opportunity at this stage of collapse. Gardening and food security issues might resonate with many more people now than in recent years. If you know someone who is on the verge of snapping out their trance, offer books, links, some seeds, or a hand.

Additionally, I have found that food is a gateway issue to getting people to understand the wider horror industrial complex. There's no need to go there right away, but once people understand industrialized food production, there's pretty much no issue that's off the table.

When you look at the food that people are going to receive in these programs below, there's going to be virtually no nutrient dense whole foods included. People are going to be eating substances that are going to reduce fertility, cause cardiovascular diseases, cancers and a variety of other problems. It's a diet of walking malnutrition, keeping people just alive enough to make them susceptible to chronic diseases. Better to kill people slowly on empty calories and genetically engineered poison than have them riot and burn the whole f*cking show down. This is how poor people are dealt with in the Western world. It's easier to give someone a breakfast stick than it is to fight him, house to house.

If you know anyone who's going to go on the dole, try to get them to see the full circle. Turn them on to the Weston A. Price Foundation, farmers markets, good fats, small scale organic gardening and bartering. Individuals might find that the crooked corporations need Obama Clause more than they do.

Via: Washington Post:

Fueled by rising unemployment and food prices, the number of Americans on food stamps is poised to exceed 30 million for the first time this month, surpassing the historic high set in 2005 after Hurricane Katrina.

The figures will put the spotlight on hunger when Congress begins deliberations on a new economic stimulus package, said legislators and anti-hunger advocates, predicting that any stimulus bill will include a boost in food stamp benefits. Advocates are also optimistic that President-elect Barack Obama, who made campaign promises to end childhood hunger and whose mother once briefly received food stamps, will make the issue a priority next year.

rest at http://cryptogon.com/?p=5327

Demands For Baby Formula Recall Mount, FDA Changes Its Story On Melamine Contamination, But Insists Products Are Safe - CBS News

(CBS/AP) Disclosure that laboratory tests have detected traces of contamination in several major brands of infant formula generated concern and confusion Wednesday, with a national consumer group and the Illinois attorney general demanding a Food and Drug Administration recall.

The FDA shunned those calls, but admitted it had released inaccurate information on what chemicals were found in which top selling products.

As worried parents called manufacturers looking for guidance about the presence of melamine and a key byproduct in U.S.-made formula, the FDA reiterated its position that the baby food is safe and parents should continue feeding it to their babies, contending the extremely low levels of contamination do not present a health danger.

Also, a spokesman for one major manufacturer criticized the FDA for its release of the inaccurate information.

"We're getting inundated by calls from moms confused about the situation," said Pete Paradossi, a spokesman for Mead Johnson, one of the three major manufacturers of U.S.-made formula involved in the problem detections.

Melamine is the industrial chemical found in Chinese infant formula - in far larger concentrations - that has been blamed for killing at least three babies and making at least 50,000 others ill.

The FDA and said the melamine contamination in U.S.-made formula had occurred during the manufacturing process, whereas melamine was intentionally added to the Chinese products. U.S. Manufacturers say their products are safe.

"The levels that we are detecting are extremely low," said Dr. Stephen Sundlof, director of the FDA's Center for Food Safety and Applied Nutrition. "They should not be changing the diet. If they've been feeding a particular product, they should continue to feed that product. That's in the best interest of the baby."

Part of the confusion Wednesday stemmed from the FDA's own statements.

While proclaiming that the very low concentrations detected of melamine and a similar compound called cyanuric acid pose no health danger to infants, the FDA has maintained it is unable to identify any exposure level of melamine in infant formula "that does not raise public health concerns."

Further complicating the situation was inaccurate data that FDA released to The Associated Press, which was disclose the formulas' brand names in an investigative report Tuesday.

A spreadsheet the AP obtained from the FDA under a Freedom of Information Act request stated that Mead Johnson's infant formula powder, Enfamil LIPIL with Iron, contained traces of melamine.

rest http://www.cbsnews.com/stories/2008/11/26/health/main4635889.shtml

17 Reasons To Give Thanks

EDITOR'S NOTE: The Progress Report will be off the rest of this week. Your daily report will return Monday, December 1.

This Thanksgiving, progressives have a lot to be thankful for. Here's our list:

We're thankful we'll soon have a president who will hit the ground running instead of a president who is running the country into the ground.

We're thankful that Keith Olbermann and Rachel Maddow are demonstrating every night how strong and intelligent progressive voices can be successful on TV.

We're thankful we live in a center-left America rather than "Hannity's America."

We're thankful John McCain has more time to spend in the houses he owns...even if he can't remember them all.

We're thankful Sarah Palin has more time to watch over Russia and warn us in case Vladimir Putin ever "rears his head."

We're thankful that we're moving closer towards a complete withdrawal from Iraq.

We're thankful for the thousands of protesters who took to the streets across America to push for marriage equality.

We're not thankful for neo-McCarthys, neo-Hoovers, neo-Nazis, and neocons.

We're thankful for Tina Fey.

rest at http://pr.thinkprogress.org/

Why Rachel Maddow is 'thankful' Bush admin is ending from Raw Story Breaking News

What is it about the Bush administration that makes people so thankful it's ending?

DA reveals evidence against Cheney, says 'don't let it die' from Raw Story Breaking News

Hopes media won't 'let it die'

Urlacher: Baby Mama "Unreasonable" from Chicagoist

via http://chicagoist.com/2008/11/27/urlacher_baby_mama_unreasonable.php

2008_11_27_urlacher.jpgChicago Bears' Brian Urlacher responded yesterday to the statement made by his son's mother, Tyra Robertson, that Urlacher painted his son's nails and put him in a "gender inappropriate pull-up," calling Robertson "unreasonable" and that he was "incensed" that she has caused him to miss scheduled visits. Urlacher claims he's missed 12 planned visitations since August 28th. As to the whole nail polish/pink diaper situation, Urlacher had a perfectly reasonable explanation, especially to any parent that has raised both boys and girls in the same house:

"He did get his nails painted. Yes. [My daughters] painted his nails. So what? His sisters were painting their nails, so he was like, 'I want to paint my nails.' He's 3 years old. Who cares?

"And, yes, he did have a pull-up on of his [3-year-old sister's]. But she wears his pull-ups also. His were out, so he put on one of hers. … So what? It's a pull-up." Our thoughts exactly, Brian.

Thanksgiving Costumes Banned at Calif. Kindergarden from Don't Tase Me, Bro!

No more school reenactments of Pilgrim-Native American "feast for Claremont kindergarden class.

LA Times reports

For decades, Claremont kindergartners have celebrated Thanksgiving by dressing up as pilgrims and Native Americans and sharing a feast. But on Tuesday, when the youngsters meet for their turkey and songs, they won't be wearing their hand-made bonnets, headdresses and fringed vests.

Parents in this quiet university town are sharply divided over what these construction-paper symbols represent: A simple child's depiction of the traditional (if not wholly accurate) tale of two factions setting aside their differences to give thanks over a shared meal? Or a cartoonish stereotype that would never be allowed of other racial, ethnic or religious groups?

"It's demeaning," Michelle Raheja, the mother of a kindergartner at Condit Elementary School, wrote to her daughter's teacher. "I'm sure you can appreciate the inappropriateness of asking children to dress up like slaves (and kind slave masters), or Jews (and friendly Nazis), or members of any other racial minority group who has struggled in our nation's history."

Raheja, whose mother is a Seneca, wrote the letter upon hearing of a four-decade district tradition, where kindergartners at Condit and Mountain View elementary schools take annual turns dressing up and visiting the other school for a Thanksgiving feast. This year, the Mountain View children would have dressed as Native Americans and walked to Condit, whose students would have dressed as Pilgrims.

rest at http://donttasemeblog.com/2008/11/thanksgiving-costumes-banned-a.html

Reporters thankful to save 50 bucks from Politico Top Stories

News organizations with reporters in Chicago have at least one thing to be thankful for this Thanksgiving.

No press conference by President-elect Barack Obama means no $50 wireless Internet fee for reporters covering it.

For three days this week, reporters arrived at the Hilton Chicago ballroom to cover Obama's press conferences only to discover that their air cards couldn't get a signal. The only option was to buy into the Hilton's Internet plan for $50 a day.

Now, that may sound like a lot of money just for getting online to file a story or Google "Paul Volcker," but the hotel's telecommunications staff assured reporters that 50 bucks was a great deal — more than 80 percent off.

The usual conference rate for logging on at the Hilton is $600 a day.

rest http://www.politico.com/news/stories/1108/16038.html

Wow, If We Still Had a Constitution We Wouldn't Have to Have Clinton as Secretary of State from AfterDowningStreet.org

Some legal scholars believe appointing Clinton to State would be unconstitutional
By Ron Brynaert, Raw Story

While the appointment of Senator Hillary Clinton to Secretary of State appears to be an all but done deal, there are some legal scholars who believe that the move would be unconstitutional.

"Why? Because the Constitution forbids the appointment of members of Congress to administration jobs if the salary of the job they'd take was raised while they were in Congress," NBC's Pete Williams reports.

Article I, Section 6: "No Senator or Representative shall, during the Time for which he was elected, be appointed to any civil Office under the Authority of the United States which shall have been created, or the Emoluments whereof shall have been increased during such time; and no Person holding any Office under the United States, shall be a Member of either House during his Continuance in Office."

An Emolument is defined as the product (as salary or fees) of an employment, The Atlantic's Matthew Berger points out.

"Essentially, you cannot take a job if the salary was increased during your current congressional term," Berger notes. "And the salary for cabinet officials has gone up in the past year. Even if it is lowered back down, constitutional scholars say that may not be enough to fix the problem."

The Washington Post notes, "In Clinton's case, during her current term in the Senate, which began in January 2007, cabinet salaries were increased from $186,600 to $191,300."

rest http://www.afterdowningstreet.org/node/37953

'Zombie' bankers feast on U.S. econ. from Raw Story Breaking News

Okay, so where are Zombie Street's hoops to dine? Where is Zombie Street's timetable of repayment for accepting $2 trillion from the Federal Reserve in emergency loans? Where is Zombie Street's proof it hasn't already started a "Great Depression" by its own acceptance of tax breaks above and beyond the original feeding-frenzy bill? And why does the U.S. government helping the Big Three automakers — but not Zombie Street — get labled "protectionist"? Why are the Big Three the "cry babies," yet Zombie Street gets no tough love for its bitching? Why not treat the Big Three and Zombie Street the same? Restructure their business systems!

Naomi Klein, author of The Shock Doctrine: The Rise of Disaster Capitalism, is unfortunately wrong now. Wall Street is not a "multi-trillion-dollar crime scene" anymore. It's a bloodbath. It's Night of the Living Capitalists.

Congress must do what traditional zombie hunters do during a zombie invasion. Aim for their heads, which means in this case, figuratively speaking, of course, jail their leaders. Or if that's too extreme, President Barack Obama come Jan. 20, 2009, could follow Sen. Bernie Sanders' recommendation for the second course of the feeding-frenzy.

"We should use the second $350 billion tranche to create millions of good paying jobs rebuilding our crumbling bridges, roads, culverts, schools and water systems. We can also create millions of jobs by moving away from foreign oil and fossil fuels and into energy efficiency and sustainable energies," the Independent Vermont senator said.

rest http://www.lonestaricon.com/absolutenm/anmviewer.asp?a=3482&z=308

The Citigroup Gold-At-$2000 Story from cryptogon.com

Via: Telegraph:

Gold is poised for a dramatic surge and could blast through $2,000 an ounce by the end of next year as central banks flood the world's monetary system with liquidity, according to an internal client note from the US bank Citigroup.

The bank said the damage caused by the financial excesses of the last quarter century was forcing the world's authorities to take steps that had never been tried before.

This gamble was likely to end in one of two extreme ways: with either a resurgence of inflation; or a downward spiral into depression, civil disorder, and possibly wars. Both outcomes will cause a rush for gold.

"They are throwing the kitchen sink at this," said Tom Fitzpatrick, the bank's chief technical strategist.

"The world is not going back to normal after the magnitude of what they have done. When the dust settles this will either work, and the money they have pushed into the system will feed though into an inflation shock.

"Or it will not work because too much damage has already been done, and we will see continued financial deterioration, causing further economic deterioration, with the risk of a feedback loop. We don't think this is the more likely outcome, but as each week and month passes, there is a growing danger of vicious circle as confidence erodes," he said.

"This will lead to political instability. We are already seeing countries on the periphery of Europe under severe stress. Some leaders are now at record levels of unpopularity. There is a risk of domestic unrest, starting with strikes because people are feeling disenfranchised."

rest http://cryptogon.com/?p=5345

GM files to keep public from tracking corporate jet from Raw Story Breaking News

General Motors, under fire for flying its chief executive to Washington for hearings on an auto bailout on its corporate jet, has asked the FAA to block the public from being able to track its plane.

"We availed ourselves of the option as others do to have the aircraft removed," a GM spokesman told Bloomberg News.

Flightaware.com, a website that tracks plane movements, has previously revealed information about the movement of GM's leased Gulfstream Aerospace G-IV jet. Its last flight shown was for its trip Nov. 18 from Detroit to Washington, where GM CEO Rick Wagoner spoke to a Senate and House panel on a $25 billion emergency loan plan for the US auto industry.

rest http://rawstory.com/news/2008/GM_seeks_to_keep_public_from_1128.html

AIG Still Paying Bonuses to Top Execs from The Washington Independent


I guess the folks at AIG, the insurance company that has gotten tens of billions of dollars from the government to keep it afloat, didn't listen very closely the other day when President-elect Barack Obama mentioned in an interview that top business executives should forgo their bonuses in troubled times.

Via Naked Capitalism, the Financial Times reports that on the day before Thanksgiving, AIG revealed it will give millions of dollars in "retention bonuses" to 130 key executives. The timing gets even more peculiar: It came one day after AIG said that it would restrict salary and bonuses for top executives.

From the Financial Times:

rest http://washingtonindependent.com/20296/aig-still-paying-bonuses-to-top-execs

From Rove the Hutt: We Don’t Need A Change In Our Health Care System from Think Progress

via http://thinkprogress.org/2008/11/28/rove-health-insurance/

rove.jpgIn an op-ed in the Wall Street Journal today, Karl Rove applauds Barack Obama's appointment of a "first-rate economic team," cheering the selections of Treasury Secretary Tim Geithner, National Economic Council director Lawrence Summers, Council of Economic Advisers chief Christina Romer, and OMB head Peter Orszag.

But while issuing compliments of most of Obama's nominees, Rove issued this back-handed swipe at Melody Barnes, who ThinkProgress first reported would be chosen to lead the White House Domestic Policy Council:

The only troubling personnel note was Melody Barnes as Domestic Policy Council director. Putting a former aide to Ted Kennedy in charge of health policy after tapping universal health-care advocate Tom Daschle to be Health and Human Services secretary sends a clear signal that Mr. Obama didn't mean it when his campaign ads said he wouldn't run to the "extremes" with government-run health care.

During the campaign, Barnes helped inform Obama's health care approach — the same approach he is now promising to pursue in office. Obama pledged to bring together "doctors and patients, unions and businesses, Democrats and Republicans" together to build on the existing system and "reduce the cost of health care to ensure affordable, accessible coverage for all Americans."

Taking a look at the health care stats in the Bush/Rove era, it's clear that most Americans have seen a decline in their health care at the same time that health insurance companies have reaped tremendous gains:

– Since 2000, the ranks of the uninsured have grown by 7.2 million.

Health care premiums have doubled under Bush. Employer-sponsored health insurance premiums have risen from $5,791 in 1999 to $12,680 in 2008.

– The fastest growing component of health care is health insurers' administrative costs.

Enrollment in Medicare private plans doubled. Through such plans, insurers "have increased the cost and complexity of the program without any evidence of improving care."

– The combined profits of the nation's largest insurance companies and their subsidiaries increased by over 170 percent between 2003 and 2007.

Obama is putting together a team, starting with Melody Barnes and Tom Daschle, who will be committed to ending the unfairness and inequity of the current health care system. Meanwhile, Karl Rove is committed to defending the health insurance industry and preventing any change to the status quo. Fortunately, the American people are proclaiming that they are ready for the change that Obama is promising.

The Casualty of Black Friday from Truthdig


WalMart

What does the post-Thanksgiving shopping rush dubbed Black Friday really symbolize in the U.S.? The death of a Long Island worker after a mob of shoppers rushed into a Wal-Mart certainly shows the worst of American consumerism and excess, but where do we position such exuberance in a time of economic downturn?


NewsDay:

Bargain-hungry shoppers stepped on a fallen Wal-Mart worker, who died Friday morning, after the crowd knocked down the store's front doors—and the worker—during the "utter chaos" of a Black Friday shopping melee, Nassau County police said.

rest http://www.truthdig.com/eartotheground/item/20081128_the_casualty_of_black_friday/

Wednesday, November 26, 2008

Obama family visits food bank, school on Thanksgiving Eve from Daily Kos


The Obama family made a surprise visit to a Chicago church food bank earlier today to help distribute meals, according to a pool report filed today by Tom DeFrank of the New York Daily News. After 40 minutes or so, the soon-to-be first family visited with students at the parochial school attached to the church, where they answered questions and got in a little teasing at the expense of the Secret Service.

One of the most powerful simple statements from the pool report came from Obama: Asked why he'd brought his daughters along, he replied: "I want them to learn the importance of how fortunate they are and to make sure they're giving back."

DeFrank's pool report is so full of life and color on this Thanksgiving Eve, I'm going to reproduce it in full. It begins after Obama's press conference this morning when he announced his Economic Recovery Advisory Board:

rest http://www.dailykos.com/storyonly/2008/11/26/161241/77/358/666796

Obama on the Tightrope from The Washington Independent


Sen. Barack Obama (D-Ill.)(WDCpix)

Sen. Barack Obama (D-Ill.)(WDCpix)

With the economy in turmoil, Congress in recess and President George W. Bush all but absent from the economic debate, President-elect Barack Obama again held the national spotlight Wednesday, announcing the newest members of the economic team that will advise him on how to manage the crisis.

In his third press conference this week, Obama named former Federal Reserve Chairman Paul A. Volcker and campaign adviser Austan Goolsbee, an economics professor at the University of Chicago, to head the President's Economic Recovery Advisory Board. The new panel will help to lift the nation's recession and stabilize financial markets. Proclaiming that Washington's policy-making is often "too insular," Obama said the two experts will bring outside-the-Beltway thinking to the nation's capital.

rest http://washingtonindependent.com/20227/obama-on-a-tightrope

Obama takes the reins on economic crisis from Politico Top Stories

entire http://www.politico.com/news/stories/1108/16023.html

In three quick days, Barack Obama has seized the nation's economic recovery plan from President George W. Bush and propelled it in a direction long opposed by the White House.

For evidence of Obama's sudden ascendancy, look no further than the corner of the television screen during the president-elect's third and final economic news conference of the week. Stocks were rising from earlier declines Wednesday as Obama promised to get the economy back on track.

"Markets hate uncertainty, and if they're not getting direction from the current administration they'll look to the next," said Vincent Reinhart, a former director of the Federal Reserve Board's Division of Monetary Affairs during the Bush administration.

What's striking in this case, however, is the market's tolerance for the widely different approach that Obama is promoting, compared to recovery plan laid out by Bush.

Obama is promoting multi-billion dollar economic stimulus package that the Bush administration vowed to veto.

Democrats Need to Advocate for Impeachment Proceedings in the House, Before Bush/Cheney Leave Office from AfterDowningStreet.org

via http://www.afterdowningstreet.org/node/37942

Democrats need to advocate for impeachment proceedings in the House, before Bush/Cheney leave office
By Karen Rubin

Countless editorials and op-ed pieces have described the flurry of activity in the Bush Administration to cement into law and entangle the incoming Obama Administration with regulations that continues the pattern of pro-Corporation, anti-environment, anti-civil rights rule-making that the electorate effectively rejected in 2006 and 2008.

That is why even in these waning days of the Bush/Cheney Administration, to save the Republic, the House must act to impeach Bush & Cheney now, even in these final days, even in what is called the lame duck presidency.

In the first place, even as a lame duck, Bush is still abusing his powers by signing regulations that will entangle the next Administration, effectively canceling out the will of the people as expressed in this tidal wave election.

An Economic Team for “Bold, Clear, Decisive Steps” from Change.gov | Blog

from http://change.gov/newsroom/entry/an_economic_team_for_bold_clear_decisive_steps/

Every day this week, President-elect Barack Obama has introduced new members of his economic team. Today it was Paul Volcker and Austan Goolsbee, who will lead the President's Economic Recovery Advisory Board.

Asked if the flurry of public activity was a response to the current Administration's handling of the current crisis, President-elect Obama said that his focus on the economy was about something much broader.

"No, I think what it speaks to is the frustration of eight years in which middle class wages have gone down, or in real terms their family incomes have been reduced," he said. "It expresses frustration about our inability to tackle some of the long term problems that we've been facing and have been talking about for decades, whether it's health care, energy, an education system that's been slipping behind in critical areas like math or science. And most of all, I think frustration with the incapacity of Washington to take bold, clear, decisive steps to deal with our economic problems."

For years President-elect Obama has fought not only for an overhaul of the regulations that govern Wall Street -- as his economic agenda states, "Barack Obama and Joe Biden believe that our deep systemic financial market crisis requires a systemic response" -- but for bold action in nearly every area of public policy.

The members of the economic team he announced this week clearly reflect these key principles. Each has the experience, ability, and will to enact bold change. Below we've put together some recent statements from each member of the team to give you an idea of where they're coming from on these key issues.


Timothy Geithner, Treasury Secretary-designate:
"Apart from the mix of incentives and constraints set by regulatory policy, the structure of the regulatory system in the United States needs substantial reform. Our current system has evolved into a confusing mix of diffused accountability, regulatory competition, an enormously complex web of rules that create perverse incentives and leave huge opportunities for arbitrage and evasion, and creates the risk of large gaps in our knowledge and authority. This crisis gives us the opportunity to bring about fundamental change in the direction of a more streamlined and consolidated system with more clarity around responsibility for the prudential safeguards in the system."
--Speech, 6/9/08, link

Larry Summers, Director-designate of the National Economic Council:
"I think the defining issue of our time is: Does the economic, social and political system work for the middle class?... Because the system's viability, its staying power and its health depend on how well it works for the middle class."
--New York Times, 6/10/07, link

Christina Romer, Director-designate of the President's Council of Economic Advisors:
"Poverty is arguably the most pressing economic problem of our time. And because rising inequality, for a given level of income, leads to greater poverty, the distribution of income is also a central concern."
--Economic Review, 1/1/99, link

Melody C. Barnes, Director-designate of the Domestic Policy Council:
"To restore fairness to our system, I will embark on a multi-faceted approach including increasing our investment in public education, promoting genuine health care reform, and backing a higher minimum wage... Our economic security, our national security, our health, and the future of the global environment are fundamentally linked to the choices we make about energy."
--"What a Progressive President Might Say," Op-ed, Washington Post, 1/22/07, link

Peter Orszag, Director-designate of the White House Office of Management and Budget:
"While I'm on the topic of health care, I'd like to make a point related to the current turmoil in financial markets. Many observers have noted that addressing the problems in financial markets and the risks to the economy may displace health care reform on the policy agenda… Although it may not seem immediately relevant given our current difficulties, it will be crucial to address the nation's looming fiscal gap -- which is driven primarily by rising health care costs -- as the economy eventually recovers from this current downturn."
--CBO Director's Blog, 10/13/08, link

Paul Volcker, Chair of the Economic Recovery Advisory Board:
"The new system seemed to work effectively in fair financial weather, with great confidence in its efficiency and presumed benefits. However, I believe there is no escape from the conclusion that, faced with the kind of recurrent strains and pressures typical of free financial markets, the new system has failed the test of maintaining reasonable stability and fluidity... The critical pressures on our financial markets are not unique, nor can an approach to dealing with those pressures be successful in isolation. We have a lot upon which to build, and we should not miss the opportunity to extend the areas of cooperation."
--Testimony to the Joint Economic Committee, 5/14/08, link

Tuesday, November 25, 2008

UK: People who fail to tell the authorities of a change of address or amend other key personal details within three months will face fines of up to £1,000 per offense from cryptogon.com

Madness.Or comedy gold?The crazed fascist nature of this is over the top, but the sections that pertain to transgendered and homeless people are priceless.

Via: Guardian:

People who fail to tell the authorities of a change of address or amend other key personal details within three months will face civil penalty fines of up to £1,000 a time when the national identity card scheme is up and running, according to draft Home Office regulations published yesterday.

The Home Office made clear that repeated failures to keep an entry on the national identity register up to date could ultimately be enforced by bailiffs being sent round to seize property.

But yesterday's detailed regulations to implement the national identity card scheme make clear that they intend to avoid the creation of ID card "martyrs", by levying no penalty on those who refuse to register for the national identity card database in the first place.

The Liberal Democrat peer, Lady Williams, is amongst ID card "refuseniks" who have said they are prepared to go to jail rather than sign up for the scheme.

But the regulations show that the main sanction they are likely to face is being barred from leaving the country when it is time to renew their passport.

rest http://cryptogon.com/?p=5286

Daily Show: Sarah Palin's Greatest Hits from Crooks and Liars

Oh, Sarah. How we will (not) miss you.

video here http://crooksandliars.com/silentpatriot/daily-show-sarah-palins-greatest-hit

Chiropractor Sues Patient Over Negative Yelp Review [Lawsuits] from Consumerist


Chris Norberg left a negative review on Yelp after he got into a billing dispute with chiropractor Steven Biegel. Instead of quietly fuming like most people who get bad reviews on Yelp do, Biegel sued Norberg for defamation. Can you really sue someone for a negative online review?

Well, you can file a lawsuit for anything. The question is whether you will win. Norberg has set up a site, standforspeech.com, about his issue and made available the documents related to his case. Read 'em and see who you think is right.

Remember folks, the best defense against libel and slander is the truth. As long as he's telling it, he should be ok, right?

Below, what exactly Norberg said about Biegel that sparked the lawsuit in the first place...

rest http://consumerist.com/5098559/chiropractor-sues-patient-over-negative-yelp-review

At family farm, grim claims of organ culling from captured Serb soldiers | World news | The Guardian

"Of all the many atrocities that human rights groups want investigated from the 1998-99 Kosovo conflict, the alleged harvesting of organs from Serbian soldiers by ethnic Albanians is one of the most gruesome. Hundreds of Serbian families have for a decade been demanding what happened to those who disappeared during and after the war. In April, Carla Del Ponte the former UN war crimes prosecutor, gave greater credence to suggestions of a macabre operation, in which as many as 300 Serbs were allegedly abducted and transported to Albania to have their organs removed. In a memoir, she wrote: "Victims deprived of only their first kidney were sewn up and confined again inside the shack until they were killed for their vital organs."

video and rest http://www.guardian.co.uk/world/2008/nov/25/kosovan-albanian-guerrillas-war-crime

Corporate shills want to blame unions for auto industry's demise from Crooks and Liars


Blaming the unions on Fox
icon Download | Play   icon Download | Play
[H/t to Dave for the video.]

Fox's Neil Cavuto had a fellow named Rick Berman of the "Employee Freedom Action Committee" on his program yesterday blaming the auto workers' unions for the demise of the auto industry. Berman natters on at length about the legacy costs for American automakers (neglecting to mention that the legacy we're talking about here originates with a workforce that made these corporations the giants they are today) and trots out a thick union contract to complain about how onerous it is for these corporations to deal with unions.

Cavuto, of all people, tries to be "fair and balanced":

rest http://crooksandliars.com/david-neiwert/corporate-shills-want-blame-unions-a

Mexican journalists threatened from Raw Story Breaking News

CIUDAD JUAREZ, Mexico -- Armando Rodríguez, at El Diario newspaper, was the top crime reporter in the deadliest city in Mexico. He had seen it all. But this was different. This was personal. Earlier this month, someone had hung the decapitated body of a local drug thug from a bridge on the airport road. Later the head appeared downtown at the Plaza of Journalists, wrapped in a plastic bag, carefully placed at the foot of a statue of a newsboy hawking papers.

The Raw Story | Bush Labor Department misled Congress in effort to privatize jobs

President George W. Bush's Labor Department misled Congress in an effort to prove outsourcing jobs to private companies was more efficient than assigning the jobs to government employees, according to a Government Accountability Office report released Monday.

The report (pdf here) found that the Department used fictional projected numbers to improve "savings reports" -- even when real numbers were already available. And when the government did find private firms to take a government job, that employee generally was either reassigned to another task with the same title or promoted.

rest http://rawstory.com/news/2008/Bush_Labor_Department_misled_Congress_in_1125.html

Russian Professor Says U.S. Will Break Up After Economic Crisis

Nov. 24 (Bloomberg) -- A professor at the diplomatic academy of Russia's Ministry of Foreign Affairs said the U.S. will break into six parts because of the nation's financial crisis.

"The dollar isn't secured by anything," Igor Panarin said in an interview transcribed by Russian newspaper Izvestia today. "The country's foreign debt has grown like an avalanche; this is a pyramid, which has to collapse."

Panarin said in the interview that the financial crisis will worsen, unemployment will rise and people will lose their savings -- factors that will cause the country's breakup.

"Dissatisfaction is growing, and it is only being held back at the moment by the elections, and the hope" that President- elect Barack Obama "can work miracles," he said. "But when spring comes, it will be clear that there are no miracles."

The U.S. will fracture into six parts: the Pacific coast; the South; Texas; the Atlantic coast, central states and the northern states.

"Now we will see a change to the regulatory system on a global financial scale: America will cease to be the world's regulator," to be replaced by China and Russia, he said.

via http://www.bloomberg.com/apps/news?pid=20601103&sid=a3sayDZz.QKc&refer=us

Billy Corgan and the Smashing Pumpkins hate their fans....

via http://www.beachwoodreporter.com/column/the_tuesday_papers_133.php

Is it just me or does it seem like Billy Corgan is crying out for attention these days?

Poor Billy.

The latest comes our way from Elliott Harris, who notes the following in his Quick Hits column today (it's appeared many other places too, I know, so don't send me hostile e-mail):

"The word is Billy Corgan of Smashing Pumpkins fame had unkind words during a concert last week in town regarding Eddie Vedder of Pearl Jam fame and Vedder's Cubs-inspired ''All the Way.' Cubs fan Corgan told the crowd between tunes Vedder's song doomed the team's chance to return to the World Series for the first time since 1945 and win its first one since 1908. ''Last I checked, Eddie ain't living here, OK?'' Corgan is said to have said. ''Eddie ain't living here to write a song about my [expletive] team.' Good to know it wasn't the ballplayers' or manager's fault."

Corgan's kind of on a roll with this sort of, um, crap. (And I hate that Eddie Vedder song.) So much so that when Corgan cancelled last Saturday night's show at the Auditorium - you know, the "White Crosses" half of his "Black Sunshine/White Crosses" two-part conceit - because he wasn't feeling well, Chicagoist said he had fell ill with grumpiness.

Still in question is whether it was grumpiness or artifice behind his recent attack on, as CHARTattack puts it, "Audiences Everywhere."

In "Smashing Show Ends In Bizarre Rant," Tribune rock critic Greg Kot wrote that "it all ended in deflating weirdness, with Corgan ranting on the microphone while the crowd filtered out wondering what happened. After a rousing first half, the momentum ebbed and flowed, and then finally nose-dived.

"'Why are you upset with us?' Corgan said. 'It's 'cause we don't do what you want us to do . . . We don't know what the [expletive] you want from us."

Poor Billy.

Jim DeRogatis, of the Sun-Times, wrote "if I had to hazard a guess, I'd say it was all part of the show, folks. Nothing spontaneous - or personal - about it. Despite invoking universally negative reactions from fans and reviewers across the country, Corgan has done this on every night of the tour at every one of the 'Black Sunshine' shows."

So this is Corgan's version of The Wall?

The real problem with Corgan is his deep desire to be profound despite having absolutely nothing original to say. But my sense is that DeRogatis is right. That doesn't make Corgan right, though.

"Why, if almost everyone has hated this tortured routine on earlier tour stops, does Corgan persist with it?" DeRogatis asks. "The man has never been anything less than 100-percent committed (and some say that he should BE committed) to his grand conceptual conceits, even when no one understands or likes them."

I'll leave the final assessment to Pitchfork, under the headline: "Smashing Pumpkins' Anniversary Tour Is a Shitshow."

"Poor setlist choices, awful-sounding music, and confounding sartorial decisions mixed with heavy doses of audience mockery: These are the reports we've been getting about the Smashing Pumpkins' '20th Anniversary Tour', and guesses at Billy Corgan's motivations can only confuse and infuriate."

Corgan may see that as Mission Accomplished; if so, though, he's the one who doesn't get it.

WOW Visual Guide to the Financial Crisis | The Big Picture



from http://www.ritholtz.com/blog/2008/11/visual-guide-to-the-financial-crisis/

Tim Geithner Under the Microscope from The Washington Independent

Wall Street sure does like the thought of Tim Geithner running the Treasury Dept. next year. (The Dow surged 494 points Friday as the news leaked, and 397 yesterday as the appointment was officially announced.) But, like Sarah Palin before him, the relatively obscure Geithner — who's headed New York's Federal Reserve Bank for the past five years — was certain to get a closer examination after being named to a position of such tremendous public importance. Indeed, The New York Time's Andrew Ross Sorkin has a revealing piece today that questions just how wizardly the 47-year-old is if he couldn't foresee the financial mess coming:

Mr. Geithner also oversaw and regulated an entire industry whose decline has delivered a further blow to an already weakened American economy. Under his watch, some of the biggest institutions that were the responsibility of the New York Fed — Bear Stearns, Lehman Brothers, Merrill Lynch and most recently, Citigroup — faltered. While he was one of the first regulators to smartly articulate the potential for an impending disaster, a number of observers question whether he went far enough to stop the calamity.

rest http://washingtonindependent.com/20040/tim-geithner-under-the-microscope

Obama explains the fundamentals of 'smarter government' from Daily Kos


This isn't about big government or small government. It's about building a smarter government that focuses on what works.

Bravo, President-Elect Obama. That's how you explain the progressive vision of government to an anxious country that needs serious leadership to calm the jitters.

Obama addressed the need for government belt-tightening and a health care system for all at a press conference this morning during which he also named his OMB team.

The address in full:

rest http://www.dailykos.com/storyonly/2008/11/25/1292/7595/912/666234

Obama's Transition Team Includes Contributors, Bundlers and Lobbyists from Capital Eye

Members of Barack Obama's transition team weren't necessarily selected solely on their résumés and expertise--some may have scored positions over similarly qualified individuals because they supported the president-elect by bundling money for his presidential campaign or opening their own wallets to him. And although Obama prohibits registered lobbyists from making financial contributions to his transition, influence peddlers past and present are showing up on the team that's building the foundation for the next administration.

The Obama transition office recently announced nearly 400 individuals who have been dispatched to review the workings of federal agencies. Our researchers here at the Center for Responsive Politics are working to match these individuals to our databases of contributors, bundlers and lobbyists.

Check out the full list of names, along with tallies of their campaign contributions and links to their profiles in our Lobbying, Revolving Door and Bundler databases here. Here's a summary of what we've found:

rest at http://www.opensecrets.org/news/2008/11/obamas-transition-team-include.html

Citibank Never Figured That Housing Prices Would Drop from Firedoglake


070402_hamilton.jpgThere is an article in the NYT on the fall of Citibank that has some startling admissions, but none more shocking than this:

Citigroup's risk models never accounted for the possibility of a national housing downturn, this person said, and the prospect that millions of homeowners could default on their mortgages. Such a downturn did come, of course, with disastrous consequences for Citigroup and its rivals on Wall Street.

They never factored that housing prices would drop?  Really?  Kobe figured that out, he sold his house in 2004.

rest http://firedoglake.com/2008/11/25/citibank-never-figured-that-housing-prices-would-drop/

“Thank you sir, that’s the change we need on behalf of White Sox fans.”

from http://thinkprogress.org/2008/11/25/obama-admits-mistakes/

During yesterday's press conference with President-elect Obama, the journalists were divided into a White Sox section and a Cubs section. The pool reporter lamented that he — "a genuine White Sox fan" — was assigned to the Cubs section. During today's press conference, Obama apologized to the reporter and took a shot at the Bush administration's unwillingness to admit error:

I understand that as a life-long White Sox fan, you were placed in the Cubs section yesterday. And I want to apologize for that. This is also part of the new way of doing business: When we make mistakes, we admit them.

The reporter, Steve Thomma, responded, "Thank you sir, that's the change we need on behalf of White Sox fans."

video and rest http://thinkprogress.org/2008/11/25/obama-admits-mistakes/

Here's what a fucking douchbag looks like: the President of the Cook County Board - "Stroger's 2009 Budget Expected from Chicagoist"


president_todd_h__stroger_8.jpgThe Cook County budget showdown is gearing up as county President Todd Stroger is expected to unveil his 2009 budget proposal today. Stroger has already put pressure on Cook County commissioners to approve a plan to borrow $720 million. The Stroger administration argues that the money is needed in order to keep the county afloat. Donna Dunnings, the county's chief financial officer and Stroger's cousin, told the Trib yesterday that massive layoffs are in store if the plan is rejected.

Commissioner Forrest Claypool, however, isn't buying it. He argues that the county should be swimming in money after the board passed a controversial tax hike that gives Chicago the highest sales tax in the nation.

"The big question in all this remains, however, where did all the money go?" Claypool told the Trib. "Where did Stroger's massive sales-tax increase go and all those hundreds of millions of dollars?"

rest: http://chicagoist.com/2008/11/25/strogers_2009_budget_expected.php

The Tax History Conservatives Want Us to Forget from Firedoglake

Grover Norquist is regularly billed as one of the leading intellectual lights of the conservative movement - and I think you will agree that the arguments he made in a debate with me over taxes this morning on CNBC highlight not merely the shocking intellectual bankruptcy of the movement he leads, but just how out of touch Republicans in Washington really are.

The debate revolved around President-elect Obama's potential plans to put off raising taxes on the very wealthy. Norquist begins the debate with the claim - I kid you not - that "the economy is in the present state because when the Democrats took the House and Senate in 2006 you knew those tax increases were going to come in 2010." He insisted that, "The stock market began to collapse as soon as you recognize that those old tax rates were coming back." Yes, because under "those old tax rates" - ie. Clinton-era tax rates - the economy was so much worse than it is today.

As you'll see, the CNBC reporters start laughing at Norquist, having trouble taking him seriously.

video and rest http://firedoglake.com/2008/11/25/the-tax-history-conservatives-want-us-to-forget/

Morris is corrupt and yes, stupid too from Daily Kos

It's fun beating up on Dick Morris, since he's a treasure trove of material. As recently noted, Morris used his media platforms to promote an advertiser to his email newsletter

without disclosure, which I'm sure all of his other publishers appreciated.

But let's not forget that no matter how corrupt he might be, he's also dishonest and stupid. To wit:

Conservatives cannot count on the Republican Party to fight their battles for them, and certainly cannot count on them to win. The right needs to develop cyber-roots conservative organizations to rival the power of groups like MoveOn.org. The stellar efforts of NewsMax.com and its ally, GOPtrust.com, illustrate the power of such efforts. Together, these groups raised $10 million for an independent expenditure on media in swing states featuring the Rev. Jeremiah Wright's anti-American bombast.

And their efforts worked.

Virtually all the polls agreed that Obama would win 52-53 percent of the vote, but the surveys varied in the amount of undecideds they found. On Election Day, virtually every undecided voter went to McCain, and Obama's final vote share was no more and no less than the 52-53 percent the surveys had predicted. This unanimity among undecided voters is attributable to the endgame of groups like GOPtrust.com and NewsMax.com.

rest http://www.dailykos.com/storyonly/2008/11/25/13352/305/154/665991

Rep. Filner: 'Culture of Dishonesty' At Department of Veterans Affairs from TPR: The Public Record

The economic meltdown that has dominated media coverage over the past several months has overshadowed a crisis at the Department of Veterans Affairs, an agency in dire need of new leadership, veterans groups and Democratic lawmakers say.


VA is now treating more than 350,000 Iraq and Afghanistan war veterans and with the war in Iraq guaranteed to continue for at least another three years, and with the possibility of more troops being sent to fight in Afghanistan, tens of thousands of those veterans will likely seek medical care and benefits from the VA for combat related injuries.

But the VA is still unprepared to meet these challenges.

In recent months, as benefits claims have piled up at the VA, some of the agency's 250,000 employees have apparently become so overwhelmed with their work load that they were prepared to shred hundreds of benefits claims in order to avoid processing the forms, thereby denying veterans the benefits they have come to depend upon to survive.

rest http://www.pubrecord.org/nationworld/521-rep-filner-culture-of-dishonesty-at-department-of-veterans-affairs.html

Redford: Bush plan to drill around national parks 'criminal' from Raw Story Breaking News

Among George W. Bush's parting gifts to the American people have been several actions that appear as direct assaults on the environment, meant to be impossible for the Obama administration to reverse.

One such last-minute assault noted by MSNBC's Rachel Maddow is that "the Bush administration has decided to open up vast swaths of wilderness in eastern Utah for oil and gas extraction -- right next to the pristine natural beauty of places like Arches National Park."

"On Election Day," Maddow explained, "the Bureau of Land Management proposed leasing almost 360,000 acres of land to oil and gas speculators -- bypassing the National Park Service to do it. And the thing about defiling nature to drill is that once it's done, it's done. You don't get pristine back."

"Do you think they'll get away with it?" Maddow asked actor and environmentalist Robert Redford.

rest http://rawstory.com/news/2008/Robert_Redford_Plan_to_drill_in_1125.html

Monday, November 24, 2008

FLASHBACK: Chambliss Hosted Golf Event At Whites-Only Country Club from Think Progress


ap081115034597.jpg As ThinkProgress noted yesterday, Chambliss has a long history of using official funds to feed his golf habit and endear himself to lobbyists. For example, Chambliss oversees the Republican Majority Fund PAC. Under him, 68 percent of its spending has gone to travel, golf events, meals and administrative costs. As the Atlanta Journal-Constitution reported, "[O]f the top 10 recipients of the Majority Fund's money since 2007, only one was a political organization."

At the 2000 Republican convention, Chambliss — along with then-lawmakers Bob Ney and Tom DeLay, who have both faced significant legal and ethical troubles — hosted a golf event for lobbyists at Aronimink Golf Club in Philadelphia, which has a long history of discrimination against people of color. As the New York Times reported in 1993:

Unable to meet the requirement that clubs must have nondiscriminatory membership policies to host tournaments, the Aronimink Golf Club has asked to be relieved of its agreement to be the site of the 1993 P.G.A. Championship, the Professional Golfers' Association of America said tonight.

Aronimink, a private club in Newtown Square, Pa., near Philadelphia, has no minority-group members. […]

rest http://thinkprogress.org/2008/11/24/chambliss-golf-blacks/

CTA To "Continuous Riders": Get Off Our Train from Chicagoist


2008_11_24_ctasign.jpgThe CTA is creating a stink with some with new signs that are aimed at "continuous riders" that critics say are aimed at the city's homeless. The signs have gone up recently and some, like Chicago Carless' Mike Doyle, suggest the signs are aimed at curbing the number of homeless people who take to the warm train cars during Chicago's harsh winters.

Any regular 'L' rider can attest to the wave of homeless Chicagoans who take to the warm interiors of CTA rail cars during the city's brutal winter months. Although generally a benign presence in the system, their downtrodden visual appearance–and in many cases odor–earns them the ire of many fellow, more fortunate passengers.
With that in mind, it doesn't take a rocket scientist to figure out why the CTA would hurry to install the aforementioned signage at the start of another Windy City winter. Of course, it isn't necessarily legal to single out homeless people and deny them service.

rest http://chicagoist.com/2008/11/24/cta_to_continuous_riders_get_off_ou.php

Heckuva Bailout: Citi and AIG Still Pay Hundreds Of Millions In Sports Sponsorship from Firedoglake


2514055103_1c49192050_m.thumbnail.jpgIn his press conference today, Obama says he wants Detroit automakers to come up with a "plan" before they can receive a bridge loan that will keep three million jobs from being lost as we teeter on the edge of a global depression. 

I guess this is the plan for Citi and AIG:

AIG, Citibank and a number of other federally bailed-out financial institutions have no plans to cancel hundreds of millions of dollars in sports team sponsorships, even as they take billions in taxpayer support, ABC News has found.

rest http://firedoglake.com/2008/11/24/heckuva-bail-out-citi-and-aig-still-pay-hundreds-of-millions-in-sports-sponsorship/

Just Like He Did To Cleland: Saxby Chambliss Swiftboating Jim Martin With Disgusting New Ads from Firedoglake

It's hard to believe, but Saxby Chambliss' campaign in the Georgia runoff, which has already been characterized by race baiting, fear mongering and gay bashing has hit a new low.

Over the last few days, both the National Republican Senatorial Committee and a far-right group called Freedom's Watch have both launched ads attacking Democrat Jim Martin for being "soft on crime." More specifically, the conservatives insist that Martin has opposed measures that would crack down on criminals who prey on children.

Of all the issues Republicans could have picked, this has to be the most offensive -- Martin's daughter was kidnapped when she was just eight years old.

The ads in question are here and here. Sick.

rest and video  via http://firedoglake.com/2008/11/24/just-like-he-did-to-cleland-saxby-chambliss-swiftboating-jim-martin-with-disgusting-new-ads/

Top Wal-Mart lobbyist to be charged in Abramoff case from Raw Story Breaking News

Wal-Mart's former Republican outreach director will be charged with conspiracy to commit wire fraud, the next to fall in a long list of current and former lobbyists linked to the Jack Abramoff lobbying scandal, according to court documents filed last week.

Abramoff, formerly a powerful Republican lobbyist for the Miami-based Greenberg Traurig lawfirm, is now serving a jail sentence for bribing public officials.

James Hirni will be charged with conspiracy to commit wire fraud, according to papers filed by the Justice Department in U.S. District Court cited by Roll Call Sunday. Hirni was an executive director for Wal-Mart's Republican outreach effort.

rest http://rawstory.com/news/2008/WalMarts_Republican_outreach_director_to_be_1124.html

Candidate for RNC chairman was member of whites-only club from Raw Story Breaking News

South Carolina's GOP chairman, Katon Dawson, who announced his candidacy to be chairman of the Republican National Committee Sunday, was a member of a whites only country club until September, Talking Points Memo revealed Monday.

South Carolina's The State reported that Dawson had resigned from the Forest Lake Club after concerns about its "whites only" deed. He said that he'd fought to change the restriction over the summer, though he'd been a member for 12 years.

Dawson announced his candidacy Sunday.

"The paper says he was a member for 12 years, so it seems like a pretty fair question to ask whether he started working to change the club's rules this summer, and then resigned, in preparation for his RNC chair candidacy," TPM's Greg Sargent wrote.

Read the full story here.

rest http://rawstory.com/news/2008/Candidate_for_RNC_chairmanship_was_member_1124.html

Jeff Bridges’ Iron Man Photo Diary from /Film

You probably know Jeff Bridges as an actor, but many people don't know that he also dabbles in photography as a hobby. Bridges recently updated his online photo book with his behind the scenes Iron Man photos. There are lots of great stuff including a look inside Stan Winston studios, photos from early production meetings, a wardrobe test, and various sets from the film.

rest http://www.slashfilm.com/2008/11/24/jeff-bridges-iron-man-photo-diary/

Silent Bob from The Big Picture


The New York Times tugs on the loose threads in the Rubin story to see if it will unravel a little. Ostensibly this is a story about Rubin's acolytes coming to power and how they're going to have to repudiate–or transform–the basic tenets of Rubinomics. But that's a red herring. No one would expect the endlessly pragmatic Rubin to be pushing a 15-year-old playbook:

All three advisers — whom Mr. Obama will officially name on Monday and Tuesday — have been followers of the economic formula that came to be called Rubinomics: balanced budgets, free trade and financial deregulation, a combination that was credited with fueling the prosperity of the 1990s.

But times have changed since then. On Wall Street, Mr. Rubin is facing questions about his role as director of Citigroup given the bank's current woes. And in Washington, he and his acolytes are calling for a new formulation to address the global economic crisis that Mr. Obama will inherit — and rejecting or setting aside, for now, some of their old orthodoxies.

rest http://www.ritholtz.com/blog/2008/11/silent-bob/

Starving For Change from Truthdig: Drilling Beneath the Headlines


The swelling numbers waiting outside homeless shelters and food pantries around the country have grown by at least 30 percent since the summer. If Barack Obama continues to turn to the elites who created the mess, if he does not radically redirect the nation's resources to assist the working class and the poor, we will become a third-world country. 

Elba Figueroa worked as a nurse's aide until she got Parkinson's disease.  She lost her job. She lost her health care. She receives $703 a month in government assistance. Her rent alone costs $750. And so she borrows money from friends and neighbors every month to stay in her apartment. She laboriously negotiates her wheelchair up and down steps and along the frigid sidewalks of Trenton, N.J., to get to soup kitchens and food pantries to eat.

"Food prices have gone up," the 47-year-old Figueroa said, waiting to get inside the food pantry run by the Crisis Ministry of Princeton and Trenton. "I don't have any money. I run out of things to eat. I worked until I physically could not work anymore. Now I live like this."

The pantry, which occupies a dilapidated three-story art deco building in Old Trenton, one of the poorest sections of the city, is one of about two dozen charities that struggle to provide shelter and food to the poor. Those who quality for assistance are permitted to come once a month and push a shopping cart in a U shape around the first floor where, clutching a piece of paper with allotted points, they can stock up on items using the pantry's point system according to the number of people in a household. The shelves of the pantry hold bags of rice, jars of peanut butter, macaroni and cheese and cans of beets, corn and peas. Two refrigerated cases hold eggs, chickens, fresh carrots and beef hot dogs. "All Fresh Produce 2 pounds = 1 point" a sign on the glass door of the refrigerated unit reads. Another reads: "1 Dozen EGGS equal 3 protein points. Limit of 1 dozen per household."

rest http://www.truthdig.com/report/item/20081124_starving_for_change/

Citibank Teaches Us How To Destroy A $244 Billion Banking Institution [Too Big To Fail] from Consumerist

Only two short years ago, Citibank was worth $244 billion. Now, after its stock lost half of its value in just the past week, the bank is estimated to be worth $20.5 billion. What happened? The New York Times attempted to answer that question Saturday, and it pointed the finger at the usual suspects — conflicts of interest between those who were supposed to manage risk — and those who stood to benefit from making risky bets.

The Times says that in September of last year, Citibank held a meeting to discuss the looming mortgage crisis. Citibank's CEO at the time, the since-canned Charles O. Prince III, asked Thomas G. Maheras, who oversaw trading at the bank, "whether everything was O.K." Maheras assured him that it was, and kept assuring him until it was too late.

rest http://consumerist.com/5097272/citibank-teaches-us-how-to-destroy-a-244-billion-banking-institution

What Barack Obama Needs to Know About Tim Geithner, the AIG Fiasco and Citigroup | The Big Picture

"If the rule of driving money to the strong banks (see "View from the Top: A Prime Solution to the US Banking Crisis") safety and soundness is to be effective, it must be applied to all. And now you know why we have questions about the nomination of Tim Geithner to be the next Treasury Secretary. If you look at how the Fed and Treasury have handled the bailouts of Bear Stearns and AIG, a reasonable conclusion might be that the Paulson/Geithner model of political economy is rule by plutocrat. Facilitate a Fed bailout of the speculative elements of the financial world and their sponsors among the larger derivatives dealer banks, but leave the real economy to deal with the crisis via bankruptcy and liquidation. Thus Lehman, WaMu, Wachovia and Downey shareholders and creditors get the axe, but the bondholders and institutional counterparties of Bear and AIG do not.

Few observers outside Wall Street understand that the hundreds of billions of dollars pumped into AIG by the Fed of NY and Treasury, funds used to keep the creditors from a default, has been used to fund the payout at face value of credit default swap contracts or "CDS," insurance written by AIG against senior traunches of collateralized debt obligations or "CDOs." The Paulson/Geithner model for dealing with troubled financial institutions such as AIG with net unfunded obligations to pay CDS contracts seems to be to simply provide the needed liquidity and hope for the best. Fed and AIG officials have even been attempting to purchase the CDOs insured by AIG in an attempt to tear up the CDS contracts. But these efforts only focus on a small part of AIG's CDS book.

The Paulson/Geithner bailout model as manifest by the AIG situation is untenable and illustrates why President-elect Obama badly needs a new face at Treasury. A face with real financial credentials, somebody like Fannie Mae CEO Herb Allison. A banker with real world transactional experience, somebody who will know precisely how to deal with the last bubble that needs to be lanced - CDS."

rest at http://www.ritholtz.com/blog/2008/11/what-obama-geithner-aig-fiasco/

On Government Bailouts, Wall Street Wins Again from The Washington Independent

Well, let's see. Detroit does a lousy job of managing the auto business and comes to Washington for a bailout. The government sends top executives home empty-handed. Lawmakers say later they might consider some sort of lifeline, under some pretty tough conditions, including cutbacks and restructuring, so the people responsible for the mess don't look like they're getting a free ride.

Then Citigroup, which did a lousy job of managing toxic subprime mortgage-backed assets, comes to the the government for yet another bailout…. and just gets one. No tough talk, and full job security at the top for the no-talent executives who almost brought one of the world's biggest banks to its knees, along with the rest of the economy because of greed.

It's the ultimate triumph of Wall Street over Main Street. As economist and former Labor Secretary Robert Reich notes, if you ever doubted whether connections mean anything and that Wall Street is far more important to politicians than the possibility of several million unemployed autoworkers out on the street, the Citigroup bailout puts that to rest.

From Reich:

This is not a particularly good deal for American taxpayers, but it is a marvelous deal for Citi. In return for all the cash and guarantees they are giving away, taxpayers will get only $27 billion of preferred shares paying an 8 percent dividend. No other strings are attached. The senior executives of Citi, including those who have served at the highest levels in the US government, have done their jobs exceedingly well. The American public, including the media, have not the slightest clue what just happened.

Meanwhile, more than a million workers in the automobile industry, along with six million mortgagees, and a millions of Americans who depend on small businesses and retailers for paychecks, are getting nothing at all.

rest http://washingtonindependent.com/19804/when-it-comes-to-government-bailouts-wall-street-wins-again

FED PLEDGES TOP $7.4 TRILLION from cryptogon.com

Adrift in a squall. Snapped mast. No rudder. Taking on water.

Via: Bloomberg:

The U.S. government is prepared to lend more than $7.4 trillion on behalf of American taxpayers, or half the value of everything produced in the nation last year, to rescue the financial system since the credit markets seized up 15 months ago.

The unprecedented pledge of funds includes $2.8 trillion already tapped by financial institutions in the biggest response to an economic emergency since the New Deal of the 1930s, according to data compiled by Bloomberg. The commitment dwarfs the only plan approved by lawmakers, the Treasury Department's $700 billion Troubled Asset Relief Program. Federal Reserve lending last week was 1,900 times the weekly average for the three years before the crisis.

rest http://cryptogon.com/?p=5256

Georgia Woman Loses Home for Having Had Consensual Oral Sex as a Teenager from Don't Tase Me, Bro!

From the Scarlet Letter dept. Back in 1997 Wendy Whitaker a  17 year old high school sophomore had oral sex with a sixteen year old classmate, and was arrested under the state's sodomy laws. Because of that arrest she was registered as a sex offender. Because of her sex offender status she  and her husband have been evicted from their home which is located within 1000 feet of a school.

Atlanta Journal-Constitution reports

The lead plaintiff in a federal lawsuit that seeks to overturn parts of Georgia's sex-offender registry law is now trying to eliminate her classification as a sex offender.

Wendy Whitaker's status as an offender violates the Constitution's guarantee against cruel and unusual punishment, says her new lawsuit, filed Friday in Columbia County Superior Court.

Whitaker, 29, is on the registry for having consensual oral sex with a classmate three weeks before his 16th birthday. Whitaker had just turned 17. Both were high school sophomores.

Because of her 1997 sodomy conviction, Whitaker must register as a sex offender for life and comply with the law's residency restrictions that bar her from living within 1,000 feet of designated areas where children congregate.




rest http://donttasemeblog.com/2008/11/georgia-woman-loses-home-for-h.html

Five Myths About Our Ailing Health Care System from Truthout - All Articles

With Congress ready to spend $700 billion to prop up the U.S. economy, enacting health-care reform may seem about as likely as the Dow hitting 10,000 again before the end of the year. But it may be more doable than you think, provided we dispel a few myths about how health care works and how much reform Americans are willing to stomach.

    1. America has the best health care in the world.

    Let's bury this one once and for all. The United States is No. 1 in only one sense: the amount we shell out for health care. We have the most expensive system in the world per capita, but we lag behind many developed countries on virtually every health statistic you can name. Life expectancy at birth? We rank near the bottom of countries in the Organization for Economic Cooperation and Development, just ahead of Cuba and way behind Japan, France, Italy, Sweden and Canada, countries whose governments (gasp!) pay for the lion's share of health care. Infant mortality in the United States is 6.8 per 1,000 births, more than twice as high as in Japan, Norway and Sweden and worse than in Poland and Hungary. We're doing a better job than most on reducing smoking rates, but our obesity epidemic is out of control, our death rate from prostate cancer is only slightly lower than the United Kingdom's, and in at least one study, American heart attack patients did no better than Swedish patients, even though the Americans got twice as many high-tech treatments.

    Moreover, the quality of health care is different in different parts of the country. The Centers for Medicare and Medicaid Services have issued a list of 26 measures of quality, such as making sure that heart-attack patients being discharged from the hospital get a prescription for a beta blocker or aspirin to help reduce the risk of a second attack. It turns out that quality is all over the map, and it isn't necessarily better in the places we might expect, such as academic medical centers. Worse still, according to the Congressional Budget Office (CBO), there appears to be no connection between how much Medicare and other payers spend on patients in different parts of the country and the quality of the care the patients receive. You are no more likely to get that beta blocker or aspirin in Los Angeles than in Portland, even though Medicare spends twice as much per beneficiary in Los Angeles.

    2. Somebody else is paying for your health insurance.

    Nope. Even when your employer offers coverage, he isn't reaching into his own pocket to cover you and your fellow employees; he's reaching into your pocket, paying you lower wages than he would if he didn't have to pay for your health insurance.

    Rising health-care costs are partly to blame for stagnant wages. Over the past five years, health insurance premiums have risen 5.5 times faster on average than inflation, 2.3 times faster than business income and four times faster than workers' earnings. Four times. That's why wages have been nearly flat since the 1980s, even as U.S. productivity has been going up. In effect, about half the money you should be earning for being more productive is being sucked up by ever more expensive health-insurance premiums.

    If you pay taxes, you're also paying for the health care provided through state and federal programs such as Medicare, Medicaid, the Veterans Administration and the military. All told, the average family of four is coughing up $29,000 a year for health care through taxes, lower wages and out-of-pocket medical expenses.

    3. We would save a lot if we could cut the administrative waste of private insurance.

    The idea that we could wring billions of dollars in savings this way is seductive, but it wouldn't really accomplish that much. For one thing, some administrative costs are not only necessary but beneficial. Following heart-attack or cancer patients to see which interventions work best is an administrative cost, but it's also invaluable if you want to improve care. Tracking the rate of heart attacks from drugs such as Avandia is key to ensuring safe pharmaceuticals.

    Let's just say that we could wave a magic wand and cut private insurers' overhead by half, to what the Canadian government spends on administering its health-care system - 15 percent. How much would we save? Not as much as you may think. Private insurers pay a little more than a third of what we spend on health care, which means that we'd cut a little more than 5 percent from our total budget, or about $124 billion. That's not peanuts, but it's not even enough to cover everybody who's currently uninsured.

    More to the point, we only get to save it once. That's because administrative waste isn't what's driving health-care costs up faster than inflation. Most of the relentless rise can be attributed to the expansion of hospitals and other health-care sectors and the rapid adoption of expensive new technologies - new drugs, devices, tests and procedures. Unfortunately, only a fraction of all that new stuff offers dramatically better outcomes. If we're worried about costs, we have to ask whether a $55,000 drug that prolongs the lives of lung cancer patients for an average of a few weeks is really worth it. Unless we find a cure for our addiction to the new but not necessarily improved, our national medical bill will continue to skyrocket, regardless of how efficient insurance companies become.

    4. Health-care reform is going to cost a bundle.

    Only if you think that covering the uninsured is our only priority. Yes, making health care available to all citizens is the right thing to do. But it isn't the only thing to do. We also have to fix the spectacularly wasteful and expensive way doctors and hospitals deliver care.

    Our physicians are working within a truly dysfunctional, often chaotic system that prevents them from caring for us properly. Between 50,000 and 100,000 patients die each year from preventable medical errors. According to the Centers for Disease Control, 1.7 million Americans acquire an infection while in the hospital and nearly 100,000 of them die from it. Laboratory imaging tests are routinely repeated because the originals can't be found. Patients with such chronic illnesses as heart failure and diabetes land in the hospital because their physicians fail to monitor their condition. When patients have multiple doctors, there's often nobody keeping track of the different medications, tests and treatments each one prescribes.

    Our doctors and hospitals are failing to provide us with care we need while delivering a staggering amount that we don't need. Current estimates suggest that as much as 20 to 30 percent of what we spend, or about $500 billion, goes toward useless, potentially harmful care.

    There are two bright spots. One: We can improve the quality of care and cut costs without rationing. There are models out there for how to do it right - the Mayo Clinic, the Geisinger Clinic in Pennsylvania, the Cleveland Clinic and California's Kaiser Permanente are just a few of the organized group practices that are doing a better job for less. Their doctors are better than average at using the best medical evidence available. They're more likely to be using electronic medical records, which can help keep track of patients who have multiple physicians and need complex care. And they're less likely to provide unnecessary care.

    Two: Even moderate reform of the delivery system would improve care and save money. The Lewin Group's analysis shows that a bill proposed by Sen. Ron Wyden, an Oregon Democrat, calling for a more comprehensive overhaul of the health-care system than either McCain's plan or Obama's could actually insure everyone and save $1.4 trillion over 10 years. More reform is cheaper.

    5. Americans aren't ready for a major overhaul of the health-care system.

    We may be readier than you think. A recent study published in the New England Journal of Medicine found that only 7 percent of Americans rate our health-care system excellent. Nearly 40 percent consider it poor. A whopping 70 percent believe it needs major changes, if not a complete overhaul.

    Now is not the time to think small, to cover a few million Americans and leave the bigger job of controlling costs and improving quality for another day. We can't afford not to reform the delivery system as soon as possible. At 17 percent of gross domestic product, health care is the biggest single sector of the economy, and it's consuming a larger and larger proportion every year. According to CBO projections, health care will account for 25 percent of GDP by 2025 and 49 percent by 2082. That's simply unsustainable. Any plan that reforms health care has to do more than simply cover the uninsured. The nation's health and wealth depend on it.

    --------

    Shannon Brownlee, a visiting scholar at the National Institutes of Health Clinical Center, is the author of "Overtreated." Ezekiel Emanuel, an oncologist and author of "Healthcare, Guaranteed," is chairman of the center's Department of Bioethics. The views expressed here are the authors' own.



rest http://www.truthout.org/112408M

Idiots and Bailouts from AfterDowningStreet.org

It's a safe bet that within the next several months, Congress will vote to bail out General Motors. It will be a colossal boondoggle involving, probably, upwards of $50 billion when it's through, and it will fail in the end.

The reason is before our eyes. This bloated megacorporation is being run by idiots.

For years, as it became evident to everyone that oil prices were going to soar because demand has been exceeding both production and supply and will continue to do so, it has been obvious that to succeed, a car company had to offer well-made cars that could demonstrate high gas mileage. GM, perhaps more than any other company, ignored that reality and has been paying the price, watching its share of the car market wither.

rest http://www.afterdowningstreet.org/node/37888

40,000 Swarm Farm to Gather Free Food from cryptogon.com

Via: Washington Post:

A farm couple got a huge surprise when they opened their fields to anyone who wanted to pick up free vegetables left over after the harvest — 40,000 people showed up.

Joe and Chris Miller's fields were picked so clean Saturday that a second day of gleaning — the ancient practice of picking up leftover food in farm fields — was canceled Sunday. " 'Overwhelmed' is putting it mildly," Chris Miller said. "People obviously need food."

She said she expected 5,000 to 10,000 people to show up Saturday to collect free potatoes, carrots and leeks. Instead, an estimated 11,000 vehicles snaked around cornfields and backed up more than two miles. About 30 acres of the 600-acre farm 37 miles north of Denver became a parking lot.
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Miller said they opened the farm to the free public harvest after hearing reports of food being stolen from churches. It was meant as a thank-you for customers.



rest http://cryptogon.com/?p=5264

Congress to Pass Bailout Sized Stimulus from Firedoglake


fdr_obama.thumbnail.jpgSchumer is talking a 500 billion to 700 billion dollar stimulus bill, spread over 2 years.  The Obama campaign is talking about 2.5 million jobs.  This is good, a very large stimulus bill is needed.

As with everything, the devil will be in the details.  There are good ways to do stimulus, such as food stamps and unemployment extensions, and there are bad ways to do stimulus, like tax cuts for the rich or giving money to corporations which aren't efficient at creating jobs.

In general, here's some of what I'd like to see in a stimulus bill, from most important to least:

rest http://firedoglake.com/2008/11/24/congress-to-pass-bailout-sized-stimulus/

Bank Eat Bank: Bailout Encourages Mergers, and Paulson Decides who Lives and Who Dies' | Corporate Accountability and WorkPlace | AlterNet

"With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones."

With newfound bailout money in their wallets, big banks have been rushing to gobble up smaller ones. At the center of these mergers is the Treasury Department, led by Goldman Sachs alums Henry Paulson and Neel Kashkari. While neglecting struggling homeowners they have created major incentives for widespread bank consolidation, which could lead to a host of new problems. And, as members of Congress recently noted, Treasury officials seem to be making the rules up as they go.

rest and video http://www.alternet.org/workplace/108322/

A Response to the Extreme Anti-Gay Comments by My Brother, New Gingrich | Rights and Liberties | AlterNet:

 "'You should be more afraid of the new political climate in America, because, there is no place for you in it.'"

Note: This letter to Newt Gingrich from his sister is prompted by his outrageous statement on Nov. 14 to Fox News's Bill O' Reilly: "I think there is a gay and secular fascism in this country that wants to impose its will on the rest of us, is prepared to use violence, to use harassment. I think it is prepared to use the government if it can get control of it. I think that it is a very dangerous threat to anybody who believes in traditional religion."

Dear Newt,

I recently had the displeasure of watching you bash the protesters of the Prop 8 marriage ban to Bill O'Reilly on FOX News. I must say, after years of watching you build your career by stirring up the fears and prejudices of the far right, I feel compelled to use the words of your idol, Ronald Reagan, "There you go, again."

rest http://www.alternet.org/rights/108310/

The 10 Worst Corporations of 2008 | Corporate Accountability and WorkPlace | AlterNet:

The 10 Worst Corporations of 2008 | Corporate Accountability and WorkPlace | AlterNet: "The financial meltdown and economic crisis illustrated that corporations will destroy even themselves in search of profit."

2008 marks the 20th anniversary of Multinational Monitor's annual list of the 10 Worst Corporations of the year.

In the 20 years that we've published our annual list, we've covered corporate villains, scoundrels, criminals and miscreants. We've reported on some really bad stuff - from Exxon's Valdez spill to Union Carbide and Dow's effort to avoid responsibility for the Bhopal disaster; from oil companies coddling dictators (including Chevron and CNPC, both profiled this year) to a bank (Riggs) providing financial services for Chilean dictator Augusto Pinochet; from oil and auto companies threatening the future of the planet by blocking efforts to address climate change to duplicitous tobacco companies marketing cigarettes around the world by associating their product with images of freedom, sports, youthful energy and good health.

But we've never had a year like 2008.

The financial crisis first gripping Wall Street and now spreading rapidly throughout the world is, in many ways, emblematic of the worst of the corporate-dominated political and economic system that we aim to expose with our annual 10 Worst list. Here is how.


rest http://www.alternet.org/workplace/108321/

Wal-Mart CEO Lee Scott retiring. from Think Progress

scottnew.gifWal-Mart Chief Executive Officer Lee Scott will retire effective Feb. 1, 2009. He will be replaced by Mike Duke, who currently heads the company's international operations. While Wal-Mart has made constructive efforts to tackle the health care crisis and establish more environmentally-friendly business practices under Scott's tenure, it has also worked tirelessly to erode workers' rights.

rest http://thinkprogress.org/2008/11/21/lee-scott-retiring/

Buy One Dodge Ram, Get One Free [Deals] from Consumerist

"Buy one new dodge ram, get a second dodge ram at no additional cost," reads the ad for Rob Lambdin's University Dodge. The auto industry is officially totally fucked.

rest at http://consumerist.com/5095746/buy-one-dodge-ram-get-one-free

Iraqi Oil Ministry and Shell Oil Secret Agreement Leaked

here: http://www.al-ghad.org/2008/11/22/shell-iraq-oil-agreement/

All US Financials Will be Nationalized in a Year: Manager - Financials

 "It's not preferable, but all major U.S. financial companies will eventually be under government control because the alternative is so much worse, Hugh Hendry, chief investment officer at hedge fund Eclectica Asset Management, said Friday.

'All financials will be owned by the U.S. government in a year,' Hendry said. 'I bet you.'"

Nationalizations take dramatic losses from the private sector and places them on the larger balance sheet of the public sector, he said.

"It's not good," but society is vulnerable and society is going to have to intervene, Hendry said.

Shareholders Should Get Nothing

Because the taxpayers are forced to foot the bill for bailout out the banks, shareholders shouldn't be compensated, Hendry added.

(Watch the accompanying video for Hendry's full comments...)

"Actually the shareholders of Citigroup have looked the other way for more than a decade" while management took excessive risk, he said.

Shareholders should take nothing away if it is nationalized, because the taxpayer will be "paying this for a long, long time," he added.

rest and video http://www.cnbc.com/id/27835645

2008 Design Challenge - The New York Times

Slideshow of some amazing designs: http://www.nytimes.com/slideshow/2008/11/23/automobiles/autoshow1123-bakeoff_3.html

Presidents of Colleges Give Back Some Pay - NYTimes.com

In the week since The Chronicle of Higher Education published its annual survey of university presidents' pay — a week in which the nation's economic troubles worsened — several of the highest-paid presidents said that they would give back part of their pay or forgo their raises.

Pat Callan, president of the National Center for Public Policy and Higher Education, said he had never heard of such a wave of givebacks.

"When you see a cluster like this," he said, "it seems like sort of belated recognition that this presidential pay thing has gotten out of hand. People are getting tuition increases, some faculty are facing layoffs, it just doesn't look too good for presidents, no matter how capable they are, to be getting so much money. Americans have had a touching faith in higher education; it's losing its good image with the public."

The chancellor of Washington University in St. Louis, Mark S. Wrighton, announced on Thursday that he would take a 5 percent cut from his base salary on Jan. 1 and another 5 percent reduction on July 1.

Mr. Wrighton, who announced his decision in an e-mail message to the university community, also pointed out that the university's endowment had declined about 25 percent since July 1, that some capital projects were being delayed and that faculty salary increases would be lower than in past years.

Mr. Wrighton said he had a base salary of about $560,000 and a total compensation package of about $780,000. He also earns about $360,000 from serving on two corporate boards.

rest http://www.nytimes.com/2008/11/23/education/23college.html

License-plate scanning catching crooks, raising privacy worries

Wow we really are moving towards a world where we will be monitored 24-7.....its scary but to expected becasue people are too dumb, overworked, stressed out and too busy to really care.

License-plate scanning catching crooks, raising privacy worries

Officer David Callister parks his patrol car under a shady interstate overpass, angling his cameras to target a flurry of passing traffic. Then he waits.

Infrared units mounted to the front of Callister's vehicle scan the license plates of a Casa Grande firefighter, an Ohio State football fan and everyone else who drives past as he hunts for stolen vehicles.

Every plate is photographed, time-stamped, labeled on a GPS map and automatically logged into an Arizona Department of Public Safety database. An electronic voice alerts Callister to stolen vehicles within seconds after they pass, giving him the ability to make quick arrests.

Callister is among the growing number of Arizona officers who use cameras to scan thousands of plates on a daily basis, sweeping parking lots and highways to recover stolen vehicles faster than ever before.

In the past two years, the technology has been lauded as more than a tool to thwart car thieves. DPS claims its program has the potential to intercept violent criminals and Amber Alert suspects, though lawmakers and activists raise questions about invasion of privacy for average citizens whose plates are scanned.

In a state that routinely ranks among the top five in the U.S. in auto theft, DPS scanned more than 1.6 million plates since introducing its first cameras in 2006 - leading directly to 122 felony arrests.

Callister, a DPS Border Crimes Unit officer, uses a set of the agency's 25 plate-reader cameras to track stolen vehicles south of Phoenix. He said the system supplements everyday police work, freeing him from the routine checks that used to consume his time.

"Three years ago, all I had in my car was a radio to talk to a dispatcher, and I had to wait my turn," Callister said. "If I was lucky, I could run 10 vehicles a day," he said. "Now, with the plate reader and my computer, I've had days when I've read over 8,000."

http://www.azcentral.com/news/articles/2008/11/23/20081123autotheft1123.html

"Richardson would be the most visible Hispanic named to Obama's Cabinet."

The Associated Press: Official: Richardson to be commerce secretary

NEW YORK (AP) — A Democratic official says President-elect Barack Obama will name New Mexico Gov. Bill Richardson as commerce secretary.

The official says Obama plans to announce Richardson's selection after Thanksgiving. The official spoke on condition of anonymity because the official was not authorized to speak publicly about the negotiations.

Richardson was energy secretary and U.N. ambassador under President Bill Clinton. Richardson would be the most visible Hispanic named to Obama's Cabinet.

Richardson dropped out of the Democratic presidential contest in January and endorsed Obama.

via http://www.google.com/hostednews/ap/article/ALeqM5h2qtj24vzZZS2Jid8I03W0bz7zXwD94KNK1O1

Richard Shelby Wants To Place US Government In Bankruptcy And Eliminate Military Pensions And Benefits from Firedoglake


images8.thumbnail.jpegSeriously. He must be saying that, right?

Because here is what Shelby (and many other belligerent Republican union busters) has been spewing in every microphone and videocam he can get his demented Chesire cat grin in front of:

"I think a lot of it will be life support," Shelby, R-Ala., said. "I believe their best option would be some type of Chapter 11 bankruptcy ... These leaders have been failures and they need to go."

Let me draw an analogy that will drive Richard Shelby and his fellow mouth breathing bottom feeders nuts. What about military pensions and benefits after retirement? Well, come on, what about it blowhards that are so quick to call for trashing the pensions and benefits of the auto workers, are you also arguing to trash and burn the same for those in the military???

rest  http://emptywheel.firedoglake.com/2008/11/23/richard-shelby-wants-to-place-us-government-in-bankruptcy-and-eliminate-military-pensions-and-benefits/

George Will: ‘The First New Deal Didn’t Work’

As Nobel-laureate Paul Krugman wrote recently in the New York Times, "There's a whole intellectual industry, mainly operating out of right-wing think tanks, devoted to propagating the idea that F.D.R. actually made the Depression worse. So it's important to know that most of what you hear along those lines is based on deliberate misrepresentation of the facts. The New Deal brought real relief to most Americans."

video and rest at http://thinkprogress.org/2008/11/23/will-new-deal/

Another reason to hate good ol Joe: On Lieberman’s Watch Katrina Kids Sickest in US from Firedoglake


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For all the talk during last week's Senate Democratic caucus about how Joe Lieberman went South forty years ago to march for racial equality and justice, did anyone even ask about his oversight of the Homeland Security Department that's created Katrina Kids, the sickest ever?

Now, the children of Katrina who stayed longest in ramshackle government trailer parks in Baton Rouge are "the sickest I have ever seen in the U.S.," says Irwin Redlener, president of the Children's Health Fund and a professor at Columbia University's Mailman School of Public Health. According to a new report by CHF and Mailman focusing on 261 displaced children, the well-being of the poorest Katrina kids has "declined to an alarming level" since the hurricane. Forty-one percent are anemic—twice the rate found in children in New York City homeless shelters, and more than twice the CDC's record rate for high-risk minorities. More than half the kids have mental-health problems. And 42 percent have respiratory infections and disorders that may be linked to formaldehyde and crowding in the trailers, the last of which FEMA finally closed in May. 

The "recovery" from Katrina may be worse than the initial response itself:

The "unending bureaucratic haggling" at federal and state levels over how to provide services and rebuild health centers for the Gulf's poor has made a bad situation much worse, says Redlener: "As awful as the initial response to Katrina looked on television, it's been dwarfed by the ineptitude and disorganization of the recovery."

rest at http://firedoglake.com/2008/11/23/on-liebermans-watch-katrina-kids-sickest-in-us/

Chambliss’s Profligate Spending On Golf Outings With Lobbyists from Think Progress


nantucket_fundraiser_golf_n.jpg Since 2005, Sen. Saxby Chambliss (R-GA), who is currently locked in a tough run-off election battle against Democrat Jim Martin, has been in charge of the Republican Majority Fund. The PAC, established in the 1970s, was set up to help fund GOP candidates. However, as the Atlanta Journal-Constitution reports today, Chambliss has instead used it as a personal fund to ingratiate himself to lobbyists, reward his political contributors, and fund his golfing habit:

Under Chambliss, however, 68 percent of the Majority Fund's spending – about $1 million – has gone for travel, golf events, meals and administrative costs, reports to the Federal Election Commission show. Political contributions comprised just 32 percent of the committee's spending, or $472,500.

rest http://thinkprogress.org/2008/11/23/chambliss-golf/

"THE world’s fattest man has finally managed to consummate his marriage after friends built him a “sex ramp”.

 "THE world's fattest man has finally managed to consummate his marriage after friends built him a "sex ramp".

Tubby Manuel Uribe, 43, slimmed down to 47st for his wedding to Claudia Solis, 38, two weeks ago.

He was carted to the ceremony on a flatbed truck but was unable to have his wedding night fun.

So pals constructed a three-foot ramp, reinforced with concrete, allowing him to raise the lower half of his body."

rest http://www.dailystar.co.uk/starfun/view/58845/Fatty-s-rampy-pumpy/

THE DAILY BANTER.COM: 10 Republicans Who Should Go Away

I can't stress enough how awesome this article - please go over and read the whole thing here http://www.thedailybanter.com/tdb/2008/11/10-people-who-need-to-go-away.html

Here is a snippet - Fox News presenter Sean Hannity is the quintessential hack - no brain, just a vacant space in his head for GOP talking points. Hannity is a smooth presenter, articulate and emotive, the perfect frontman for the bankrupt ideology he is paid to promote. Hannity has gone from dreadful to absolutely nauseating since Palin ignited his loins, gushing over the re emergence of brainless conservatism and filling his head with dreams of a conservative comeback in 2012. The visible anguish Hannity now shows after the Democratic victory is a joy to watch, clearly karmic pay back for the years of gloating over the sorry state of Democrats. Hannity was sick to his stomach after Obama was elected, and may develop some serious ulcers over the next four years. However, luckily for him, he may get treatment for free if Obama institutes universal health care."

10 Republicans who should go away from Raw Story Breaking News

With a new political era looming, veterans of the old political arena will scramble to redefine themselves in order to make a living. Politicians, media commentators and analysts may be ill equipt to deal with the changing electorate, increased power of the blogosphere and massive discontent with the status quo. Who will survive in the modern epoch? Here are 10 who should really think about calling it quits:

1. William Kristol

There's no need to go on about how wrong Bill Kristol has been on just about everything, and what a spineless shrimp of a man he is. Just read this quote from an article he penned on the eve before the war in Iraq:

rest http://www.thedailybanter.com/tdb/2008/11/10-people-who-need-to-go-away.html

Citigroup bailout: leaving the incompetents in charge from Firedoglake


citi.thumbnail.jpgSo, now it's Citi's turn to get bailed out.  The plan is to take on Citi's losses beyond a certain (still undetermined) level.  If the government does so, Citi will give it either warrants (the right to purchase shares later) or preferred shares.  Shares are better for taxpayers.  At the least what should happen is Buffett Shares: preferred shares with warrants as well.

When Switzerland did this for UBS, their agreement got them 6 billion of shares for 60 billion dollars of purchasing crap, with the debt held in a seperate entity, so that if it all goes down, UBS won't take the losses.  Good deal, if you can get it.

The rule here continues to be the same as it has been throughout this crisis: the people who caused the crisis must be left in charge of the organizations, the executive class running financial institutions must not be significantly harmed.

Because these folks are not competent, this is clearly the wrong decision, yet again.

rest http://firedoglake.com/2008/11/23/citigroup-bailout-leaving-the-incompetents-in-charge/

Yet Another Holder Holdup from Firedoglake by Teddy Partridge


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In case you thought Chiquita and Marc Rich were Eric Holder's only stumbling blocks on his way to being nominated as Barack Obama's Attorney General, Stephanie Mencimer at Mother Jones revealed yet another reason why Senate GOPs might go to town on this nomination.

Her characterization of the Holder's involvement in the Marc Rich pardon as a "minor hiccup" may not hold up after George Lardner Jr's New York Times op-ed column today, but she had this to say last week about Holder:

Given Holder's otherwise squeaky-clean reputation and a democratic Congress, that minor hiccup isn't likely to slow him down. What might give some members of Congress pause, however, is Holder's record as US Attorney for the District of Columbia during the Clinton administration. If Democrats are looking for a crusader to clean house at the Justice Department and elsewhere in the federal government, Holder might not be their man.  

rest http://firedoglake.com/2008/11/23/yet-another-holder-holdup/

Microfluidic Chip Tests For Cancer In 10 Minutes from FuturePundit



Microfluidic chips will get more powerful every year just like computer processors and will drive down the cost of medical testing by orders of magnitude.

Measuring proteins in the blood can help doctors determine patients' cancer risk and monitor the health of the elderly and people with chronic diseases. But current methods for testing these proteins are too expensive and require too much blood to be performed regularly. A microfluidic chip in clinical trials does on a single chip in 10 minutes what normally takes multiple technicians hours to do--and with just a single drop of blood. Researchers hope to make bedside diagnostics based on blood proteins a reality by bringing down the cost of such tests by at least an order of magnitude.

The diagnostic chip is being developed by Caltech chemistry professor James Heath and by Leroy Hood, the president and founder of the Institute for Systems Biology, in Seattle. Heath and Hood have founded a company called Integrated Diagnostics to commercialize the blood chip.

Microfluidic chips will eventually show up at home and people will test themselves using a home lab kit at very low cost. A laptop or smart phone will display the test results. The number of diseases these chips can detect will grow enormously and the chips will allow diagnosis at much earlier stages of disease development. This will of course help cure cancer before it metastasizes. But it will also enable much earlier and successful intervention in many other disease processes.


rest http://www.futurepundit.com/archives/005730.html

Citigroup, Feds Reach Deal from CrossingWallStreet.com


Well, the deal is done. Citigroup reached a deal with the Feds whereby the government will backstop $306 billion of its crappy assets. Note that the assets are not being taken off the balance sheet (TARP is dead). In exchange, the government will get 8% preferred shares (i.e., our crappy assets). The government will also kick in another $20 billion of TARP money (Update: TARP lives!)

For its troubles, Citi will now have to comply with the exec comp restrictions plus it has to go along with the FDIC's mortgage modification program.

There's a lot going on here so let's look at the objectives. For one, the government is aware that other troubled banks are watching this deal. Even if other banks never get it, a bar has been set that will influence future behavior.

rest at http://www.crossingwallstreet.com/archives/2008/11/citigroup_feds.html

Sunday, November 23, 2008

Obama Taking Action Before Taking Office from Truthout - All Articles


    Washington - With a series of forceful actions in recent days, amid an almost unprecedented set of challenges, Barack Obama has taken an unusual step for a president-elect: attempting to alter the country's perilous course even before he takes office.

    The most dramatic example came Saturday, when Obama announced a far more aggressive economic stimulus plan than previously promised - a two-year program to addd 2.5 million jobs he said represented "an early down payment on the type of reform my administration will bring to Washington."

rest http://www.truthout.org/112308B

Eric Holder Pushed the Marc Rich Special Treatment for Over a Year? from Firedoglake


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Fran Townsend has been peddling an alternate reality version of how Eric Holder came to OK the Marc Rich pardon.

Holder "got a last-minute phone call" from the Clinton White House to vet Rich, Townsend told CNN, where she is a contributor.

"He was put in a horrible position," Townsend said, adding that Holder was being criticized unfairly in the Rich matter.

The charitable view is that Ms. Townsend's imagination has won some battle with her memory. The less charitable view is that her years in the Bush White House have caused her to adopt one of their more famous mottos, "Reality? We don't need no stinkin' reality, we make our own reality!"

rest http://firedoglake.com/2008/11/23/eric-holder-pushed-the-marc-rich-pardon-for-over-a-year/

Le Citi Toujours Dormer... from Grasping Reality with Both Hands: The Semi-Daily Journal of Economist Brad DeLong

Why oh why can't we have a better press corps? Eric Dash and Julie Creswell write that:

  • Citigroup had poor risk controls.
  • As a result, the bank owned $43 billion of mortgage-related assets that it incorrectly thought were safe.
  • They weren't.
  • And so as a result the market value of Citi has collapsed by a factor of ten: from $200 billion to $20 billion.

To which the only appropriate response is: "Huh?" How can losses out of $43 billion of optimistically overvalued asserts eliminate $224 billion of value? Eric Dash and Julie Creswell don't answer that question. They don't even seem to recognize that it is a question that they should be interested in. That they were given this story to write, and that no editors said "wait a minute! this doesn't add up!" is yet another signal that the New York Times is in its death spiral: not the place to go to learn anything about an issue.

Here they are:

rest http://delong.typepad.com/sdj/2008/11/le-citi-toujour.html

Retreating glaciers mean less drinking water from Politics in the Zeros. Anti-war, global warming, peak oil, progressive politics by Bob Morris


Glacier in Peru. Photo from 1978 on left, 2004 on right.

Glaciers are shrinking worldwide. This means less drinking water for billions. Celcias has an excellent overview, focusing on several countries.

Key quote:

"When the glaciers are gone, they are gone. What does a place like Lima do? Or, in northwest China, there are 300 million people relying on snowmelt for water supply. There's no way to replace it until the next ice age."

rest http://polizeros.com/2008/11/23/retreating-glaciers-mean-less-drinking-water/

22 US banks collapsed this year- International Business-News-The Economic Times



NEW YORK: As many as 22 American banks have collapsed this year so far, even as the banking giant Citigroup, led by Indian-American, Vikram Pandit, struggled this

week to save itself from becoming number 23 in this fast growing long list.

On Friday, three US banks collapsed with two of them being in California and the third one in Georgia.

The two California banks which were shut down Friday are Downey Savings and Loan of Newport Beach and PFF Bank and Trust of Pomona. The 12.78 billion Downey, The Wall Street Journal, said is the third largest bank to fall this year. Topping the list is $307 billion Washington Mutual.

In Georgia the Community Bank of Loganville closed down.

With little signs of improvement, The Wall Street Journal said regulators expect more failures during the remaining part of this year and next year, as "rotting real estates and other loans continue to weigh down bank balance sheets."

The deposits and some of the assets of the two collapsed Californian banks were bought by US Bancorp, which now has emerged as one of the strongest US banks during the current financial turmoil. Deposits and assets of the Georgian bank was acquired by Bank of Essex from Virginia.

rest http://economictimes.indiatimes.com/International_Business/22_US_banks_collapsed_this_year/articleshow/3747878.cms

PageOneQ | Ted Haggard opens new business blocks from old church:

 "Earlier this month, a guest took the pulpit at Open Bible Fellowship in Morrison, Ill., a 350-member church surrounded by cornfields. The speaker was an insurance salesman from Colorado named Ted Haggard.

The former superstar pastor, disgraced two years ago in a sex-and-drugs scandal, had returned — this time as a Christian businessman preaching a message that was equal parts contrition and defiance. Haggard linked his fall to being molested in second grade and apologized again.

His two sermons were posted, fleetingly, on Haggard's Web site under one word: 'Alive!'"

rest via http://pageoneq.com/news/2008/haggard112308.html

Conyers, Sanchez to Introduce Bill to Protect Homeowners From Foreclosure from TPR: The Public Record

House Judiciary Committee Chairman John Conyers, Jr. (D-MI) and Commercial and Administrative Law Subcommittee Chairwoman Linda Sánchez (D-CA) said they will introduce legislation allowing homeowners facing foreclosure to protect their homes in bankruptcy. Their bill, the Democratic lawmakers said, would correct a 30-year-old anomaly in the Bankruptcy Code allowing the modification of nearly all loans except a family's home.

Despite the passage of the financial rescue package empowering the Treasury Department to help homeowners facing foreclosure, this administration has instead spent billions of taxpayer dollars to finance mergers, executive bonuses and spa treatments for bank executives, Conyers sand Sanchez said.

rest http://www.pubrecord.org/politics/516-conyers-sanchez-to-introduce-bill-to-protect-homeowners-from-foreclosure.html

AG Holder and his role in the Marc Rich pardon

Political Punch: "Former Washington Post reporter George Lardner Jr. writes an op-ed this weekend for the New York Times looking at the role in the scandalous pardon of Marc Rich -- 'indicted along with his partner, Pincus Green, and their companies on 65 counts of defrauding the I.R.S., mail fraud, tax evasion, racketeering, defrauding the Treasury and trading with the enemy' -- and the role in the pardon played by PEBO's top choice to be attorney general, Eric Holder."

rest http://blogs.abcnews.com/politicalpunch/2008/11/holder-and-the.html

Fed to Rescue Another Shaky Bank from Truthdig: Drilling Beneath the Headlines

What's a hundred billion between capitalists? The Fed and the Treasury are once again throwing good cash after bad business. This time the culprit is Citigroup, which could get bailed out—courtesy of you—to the tune of a hundred billion dollars.

rest http://www.truthdig.com/eartotheground/item/20081123_fed_to_rescue_another_shaky_bank/

New Deal Denialism--Conservative Liars On The Rampage from Open Left - Front Page

As conservative economics collapses disastrously under the weight of its many, many lies, it is only natural that the liars fall-back position is to take aim at the hope of actually cleaning up their mess.  And hence the sudden rise of New Deal denialism.  It's not as if this comes out of nowhere.  It comes out of the same sorts of folks who denied the New Deal as it was succeeding right before their very eyes.  And it comes out of the right-wing think tank complex.  And it gets spouted by George Will on ABC This Week.  And it's a load of bull.  Video of Will on the flip. Pride of place to this simple diagram (click to enlarge), which shows the truth: the New Deal was working just fine, until FDR, with a premature sense of relief, and a lingering belief in the old economics, decided it was time to go back to balanced budgets, thus precipitating the recession of 1937/38.  It was, in effect, a text-book science experiment: turn the New Deal stimulus policies on, economic goes up, turn them off, economy goes down.  But Will--and many others--are trying to pretend the exact opposite, that FDR's policies remained constant, and proved disasterous in 1938:

rest at http://www.openleft.com/showDiary.do?diaryId=10117