Billionaire Who Cleaned Up on Subprime Mortgage Foreclosures Hosts Secret Romney Fund Raiser

I just came across this in The Daily Beast and had to share.

Mitt Romney held a high-dollar fundraiser Thursday night at the home of John Paulson, the controversial hedge-fund billionaire who made a fortune shorting the housing market and subprime mortgages in 2007.

New York grocery billionaire John Catsimatidis told The Daily Beast the fundraiser, at Paulson’s posh townhouse at 9 East 86th Street on the Upper East Side of Manhattan, was a “big-dollar event” for wealthy donors like himself “fighting for the soul of America.” The Romney campaign did not return requests for information about the fundraiser—which was not listed on the candidate’s public schedule. Paulson’s publicist, Armel Leslie, also did not return calls seeking comment.

A neighbor who witnessed the event from across the street described it to The Daily Beast as a large crowd of “older white people, mostly men,” who started showing up around 7:30 p.m. Thursday. Around 8 p.m., sirens started blaring as more and more people started to show. There was security at the door as well as a police car on the street.

Then things became quiet until the sirens started up at 9:30 p.m. An SUV tried to block 86th Street, but New York drivers characteristically went around it. Then, as the security stood in the street, Romney emerged from the townhouse, “looking tall and neat.” He took off his suit jacket and climbed into the SUV.

The Daily Beast says this is a departure for Romney, since Paulson is one of the people who caused the economic crisis and who made obscene profits from it–Paulson made 3.7 billion on foreclosures. But I googled and found that Paulson also hosted a ritzy fundraiser for Romney at his (Paulson’s) Southhampton home last summer.

Interestingly, Paulson and fellow hedge fund billionaire Paul Singer (another big Romney donor) also made big bucks from the auto industry bailout, according to a February article by Greg Palast.

Gov. Romney…asserted that the Obama Administration’s support for General Motors was a, “payoff for the auto workers union.” However, union workers in GM’s former auto parts division, Delphi, the unit taken over by Romney’s funders, did not fare so well. The speculators eliminated every single union job from the parts factories once manned by 25,200 UAW members.

The two hedge fund operators turned a breathtaking three-thousand percent profit on a relatively negligible investment by using hardball tactics against the US Treasury and their own employees.

Under the control of the speculators, Delphi, which had 45 plants in the US and Canada, is now reduced to just four factories with only 1,500 hourly workers, none of them UAW members, despite the union agreeing to cut contract wages by two thirds.

It wasn’t supposed to be quite so bad. The Obama Administration and GM had arranged for a private equity investor to provide half a billion dollars in new capital for Delphi, but that would have cut the pay-out to Singer and Paulson. The speculators blocked the Obama-GM plan, taking the entire government bail-out hostage. Even the Wall Street Journal’s Dealmaker column was outraged, accusing Paul Singer of treating the auto company, “like a third world country.”

Romney and Paulson both graduated from Harvard Business School and each went to work for The Boston Consulting Group soon after. I don’t know if they were at Harvard and BCG at the same time, but it seems possible. Wikipedia has a list of famous people who came out of BCG, including Jeffrey Immelt and Benjamin Netanyahu. These are truly Romney’s people.

As I’ve written a number of times, Barack Obama was Wall Street’s candidate in 2008, but Mitt Romney IS Wall Street. Just reading about these guys scares the sh%t out of me!


Romney Career Advice Open Thread

Gov. John Kasich and Mitt Romney at Otterbein U.

Yesterday, presumed Republican Presidential standard bearer Mitt Romney managed a stunning quadruple-gaffe. In one “lecture” at Ohio’s Otterbein University he demonstrated his ignorance about ordinary American families, his disdain for working people, and his cluelessness about the American economy. On top of that, he managed to put his audience to sleep! Watch the video and note the dozing students behind Romney:

Yes, Jimmy John’s! Romney’s pal Jimmy John Liautaud started a sandwich store franchise in 1983 with a $25,000 loan from his dad. Romney advised Otterbein students to do the same:

Accusing the president of attacking successful Americans, Romney urged students to borrow money from their parents — as John did — if they need to do so to succeed in starting their own businesses.

“Even now, I believe you’re watching a president who is trying to deflect and divert from his record by trying to find ways to, if you will, attack fellow Americans, between rich and poor, and other dimensions,” said Romney. “This kind of divisiveness, this attack of success, is very different than what we’ve seen in our country’s history.”

“We’ve always encouraged young people, take a shot, go for it, take a risk, get the education, borrow money if you have to from your parents, start a business,” he said.

Of course! Because everyone has parents with an extra $25,000 lying around. Why didn’t I think of that? It’s a simple answer to the economic crisis–stop attacking rich people and borrow money from your rich parents instead.

And be like Jimmy John’s–a company cited for illegal labor practices! Great idea!

Judge Rules Jimmy John’s Must Re-Hire Workers Fired for Sick Leave Complaints

A National Labor Relations Board administrative law judge has ruled six former Minneapolis Jimmy John’s sandwich shop employees must be re-hired and paid back wages.

The workers in question said if they called in sick and couldn’t find replacements for their shifts they risked being fired. So, they started warning Jimmy John’s customers that they could be eating sandwiches made by under-the-weather sandwich makers….

Davis Ritsema, one of the fired workers, explained how sick leave policy challenge began. “One day I was coughing and had a high temperature, but I felt pressured to work.”

Mike Wilkow, another former Jimmy John’s worker, added, “I was vomiting and handling sandwiches. They made me stay until the end of my shift.”

Yes, take Mitt Romney’s advice: borrow money from your wealthy parents, hire minimum-wage workers and deny them sick leave. That’ll help the economy recover!

Romney also attacked Obama’s economic stimulus, apparently unaware that Otterbein University received more than $80,000 in stimulus funds used for a federal work-study program.

ROMNEY: Then there was the stimulus itself. $787 billion of borrowing. It could have been entirely focused on getting getting the private sector to buy capital equipment, for instance. That puts people to work. Or to hire people. Instead, it primary [sic] protected people in the governmental sector, which is probably the sector that should have been shrinking.

Of course, as Dr. Dakinikat has repeatedly explained, businesses aren’t going to invest capital in equipment to produce products when Americans have so little money to spend. Furthermore, Ohio college are now suffering the loss of stimulus funds, because Governor Kasich, who accompanied Romney at Otterbein, hasn’t done anything to replace them.

What’s on your mind this lovely Saturday morning?


Thursday Reads

North Dakota Badlands--where I'd like to be this morning

Good Morning!!

Like JJ, I’m a little sick of the political news these days. Plus I’m a little under the weather with a cold, so please be patient if I don’t make a whole lot of sense today.

I heard a little of Mitt Romney’s victory speech on Tuesday night, and when I got up yesterday I decided to read the transcript. The speech was every bit as vapid as I remembered.

There is not one specific policy mentioned in the speech, just attacks on Obama and promises that no one could fulfill. Romney begins by playing to the people he has been disrespecting throughout the primaries:

For every single mom who feels heartbroken when she has to explain to her kids that she needs to take a second job … for grandparents who can’t afford the gas to visit their grandchildren … for the mom and dad who never thought they’d be on food stamps … for the small business owner desperately cutting back just to keep the doors open one more month – to all of the thousands of good and decent Americans I’ve met who want nothing more than a better chance, a fighting chance, to all of you, I have a simple message: Hold on a little longer. A better America begins tonight.

Really? A better America with no employer-provided health care, no Social Security, no Medicare, no Planned Parenthood? Romney claims that his “success in business” has taught him how to create jobs and build a booming economy (Even though his business was buying up successful companies and bleeding them dry. And even though he didn’t do those things when he was Governor of Massachusetts.)

…you might have heard that I was successful in business. And that rumor is true. But you might not have heard that I became successful by helping start a business that grew from 10 people to hundreds of people. You might not have heard that our business helped start other businesses, like Staples and Sports Authority and a new steel mill and a learning center called Bright Horizons. And I’d tell you that not every business made it and there were good days and bad days, but every day was a lesson. And after 25 years, I know how to lead us out of this stagnant Obama economy and into a job-creating recovery!

Really? The only thing I’ve heard him recommend is tax cuts for rich people and more austerity for the rest of us. What am I missing? Then he asks the Reagan question–are you better off now than you were back in 2008?

what do we have to show for three and a half years of President Obama?

Is it easier to make ends meet? Is it easier to sell your home or buy a new one? Have you saved what you needed for retirement? Are you making more in your job? Do you have a better chance to get a better job? Do you pay less at the pump?

If the answer were “yes” to those questions, then President Obama would be running for re-election based on his achievements…and rightly so. But because he has failed, he will run a campaign of diversions, distractions, and distortions. That kind of campaign may have worked at another place and in a different time. But not here and not now. It’s still about the economy …and we’re not stupid.

At least Romney seems to have found a better speechwriter, but as Ezra Klein points out:

Three and a half years ago…Barack Obama wasn’t yet president. The date was Oct. 25, 2008, and Obama hadn’t even won the election yet, much less taken office.

The National Bureau of Economic Research says the recession officially began in December 2007. The worst of it came in the fourth quarter of 2008. Obama was inaugurated on Jan. 20, 2009. The time frame Romney chose, in other words, thrusts the very worst of the recession into Obama’s lap despite the fact that he wasn’t even president yet. It’s like blaming a fireman for the damage the blaze did before he arrived.

As Klein says, the real question should be “are you better off now than you would have been had Mitt Romney been president?” Romney claims Obama wants the government to control our lives.

This President is putting us on a path where our lives will be ruled by bureaucrats and boards, commissions and czars. He’s asking us to accept that Washington knows best – and can provide all.

We’ve already seen where this path leads. It erodes freedom. It deadens the entrepreneurial spirit. And it hurts the very people it’s supposed to help. Those who promise to spread the wealth around only ever succeed in spreading poverty. Other nations have chosen that path. It leads to chronic high unemployment, crushing debt, and stagnant wages.

I have a very different vision for America, and of our future. It is an America driven by freedom, where free people, pursuing happiness in their own unique ways, create free enterprises that employ more and more Americans. Because there are so many enterprises that are succeeding, the competition for hard-working, educated and skilled employees is intense, and so wages and salaries rise.

I see an America with a growing middle class, with rising standards of living. I see children even more successful than their parents – some successful even beyond their wildest dreams – and others congratulating them for their achievement, not attacking them for it.

That last part is what Romney seems to really need–adoration for his achievement of getting rich at the expense of all the little people who were driven out of work and into bankruptcy while Romney headed Bain Capital. Other than that, it sounds like he’s talking about the Eisenhower-Kennedy years–except in that economy the wealthy and corporations paid their fair share of taxes.

I don’t think Romney has made his case to be President, unless people just want to vote for him because he “loves America.”

The Romney campaign is synchronizing it’s work with the Republican National Committee, so I wonder if this idea came from the campaign or the RNC: Republican National Committee Files Complaint Over Obama Travel

The Republican National Committee has filed an official complaint with the Government Accountability Office over President Barack Obama’s use of official resources for campaign travel.

In a letter to the watchdog agency, RNC Chairman Reince Priebus writes to call attention “to a case of misuse of government funds benefitting “Obama for America” (OFA), otherwise known as the president’s reelection campaign.”

Priebus pointed to Obama’s current trip to North Carolina, Colorado, and Iowa — three battleground states — to discuss extending lower interest rates on student loans as examples of this tax-payer funded campaign travel.

“One might imagine that if this were genuinely a government event he might have stopped in a non-battleground state like Texas or Vermont,” Priebus said.

“This President and Air Force One seem to have a magic magnet that only seem to land in battleground states in this country,” Priebus told reporters earlier Wednesday before the complaint was drafted.

And so on… The GAO replied to a request from Buzzfeed:

GAO Spokesman Charles Young told BuzzFeed that the watchdog agency has yet to receive the RNC letter. “But we conduct our work at the request of the Congress.”

That was a pretty good slapdown. I seem to recall George W. Bush making a lot of speeches in swing states back in 2004. I wonder if Priebus was upset about that too? Geeze.

Vanity Fair has posted video of a memorial service held for Christopher Hitchens on April 20th. Hitchens died on December 15, 2011. In his honor, I’d like to quote from one of his Slate pieces that is very relevant to the 2012 presidential race: Mitt Romney and the weird and sinister beliefs of Mormonism.

The founder of the church, one Joseph Smith, was a fraud and conjurer well known to the authorities of upstate New York. He claimed to have been shown some gold plates on which a new revelation was inscribed in no known language. He then qualified as the sole translator of this language. (The entire story is related in Fawn Brodie’s biography, No Man Knows My History.* It seems that we can add, to sausages and laws, churches as a phenomenon that is not pleasant to watch at the manufacturing stage. Edmund Wilson wrote that it was powerfully shocking to see Brodie as she exposed a religion that was a whole-cloth fabrication.) On his later forays into the chartless wilderness, there to play the role of Moses to his followers (who were permitted and even encouraged in plural marriage, so as to go forth and mass-produce little Mormons), Smith also announced that he wanted to be known as the Prophet Muhammad of North America, with the fearsome slogan: “Either al-Koran or the Sword.” He levied war against his fellow citizens, and against the federal government. One might have thought that this alone would raise some eyebrows down at the local Baptist Church.

Saddling itself with some pro-slavery views at the time of the Civil War, and also with a “bible” of its own that referred to black people as a special but inferior creation, the Mormon Church did not admit black Americans to the priesthood until 1978, which is late enough—in point of the sincerity of the “revelation” they had to undergo—to cast serious doubt on the sincerity of their change of heart.

Read the rest at the link and see if you think Romney’s religion is relevant. Ross Douthat is concerned about it.

I’m going to wrap this up, because I’m really not feeling well, but I want to share a story with you from Boston. It’s a week or so old, but still worth highlighting: ‘She-Hulk’ collars alleged T creep after lewd act. It’s a about a young woman (who didn’t want her name used) riding the MBTA, minding her own business and then suddenly finding herself the object of–to put it mildly–unwanted attention.

“This guy was just being a real creeper,” she said. As she shuffled along the train, he followed her. She zoned out, listening to music, only to look up and see him standing over her.

“I looked up and felt awkward, so I looked down,” she said. She said the man was exposing and touching himself, but tried to cover himself with his shirt.

The woman — not someone to meekly let an alleged creep get away with it — shouted out what he was doing, but no one stepped in to help. She said one male passenger even shrugged. So, she said, she went into “She-Hulk” mode, lunging as the man tried to bolt at Packard’s Corner in Brighton.

She said she held the man with one hand and “berated” him while she waited for the cops to arrive. She said he looked frightened.

“He kept saying sorry, but he was just sorry for himself,” she said.

The Boston Globe had an account of the arrest of the perp, Michael Galvin, 37, of Hudson St. in Somerville.

Officers found Galvin being dragged by his apparent victim, who grabbed him by his sweatshirt as he attempted to leave the train at the stop….When she caught up to him, he allegedly said, “I think I need help, I think something is wrong with me.” The woman held him until police arrived, according to an MBTA Transit Police report released by the agency.

Police arrived and spoke to Galvin, who said his shorts fell down accidentally on the packed and jostling train, the report said.

But the woman told a different story. Galvin allegedly approached her slowly on the crowded train. She told officers that she “got a weird vibe from the guy and tried to move away but couldn’t because the trolley was so packed.”

When Galvin was near her and she looked down, she said she saw that his shorts were pulled down “just enough to have his penis exposed, and he was stroking it.”

It’s just one small win for women, but a very satisfying one, IMHO.

So what are you reading and blogging about today?


Tuesday Night with Ann and Mitt

Good Evening everyone!

Tonight’s post is dedicated to Ann and Mitt Romney. I have some more background on Ann Romney’s “struggles,” as a follow up to Dakinikat’s earlier post. And, since Mitt Romney will essentially wrap up the Republican presidential nomination tonight, I’ve collected some advice for Mitt Romney from various sources.

As everyone knows by now, Ann Romney is a stay-at-home mom. And she has lots of homes to stay at home in. But Ann is more than a mom. She has a hobby that is very important to her. A very expensive hobby. Her passion is collecting and riding dressage horses.

Now I don’t want to be cruel about Ann’s expensive hobby, because she says it has helped her to deal with her multiple sclerosis; but, let’s face it, very few multiple sclerosis sufferers can afford the Ann Romney cure.

After the notorious Hilary Rosen remark about Ann Romney not working a day in her life, Dave Weigel wrote a piece called The Ann Romney Wars, in which he linked to some articles about Ann’s hobby. I hadn’t heard about it before.

First up, a NYT piece by Jodi Kantor from 2007: The Stay-at-Home Woman Travels Well. Kantor writes about Ann’s diagnosis with multiple sclerosis in 1998 and her efforts to treat the disease.

Though she used steroids to combat her initial attack, today Mrs. Romney takes no medicine for her disease, instead relying on alternative therapies such as horseback riding — she calls it “joy therapy”— to keep herself well. But doctors say that only medication, which patients often resist because of unpleasant side effects, slows the long-term progress of the disease.

Ann had ridden horses as a child–like her husband, she comes from a wealthy family.

During her rehabilitation from her initial attack, she took up dressage, going from a novice so weak that she could barely sit in the saddle to a winner of top amateur medals. She sometimes enters professional-level contests, against the advice of her trainer, Jan Ebeling. “She wants to measure herself against the best,” he said.

Dressage is a sport of seven-figure horses and four-figure saddles. The monthly boarding costs are more than most people’s rent. Asked how many dressage horses she owns, Mrs. Romney laughed. “Mitt doesn’t even know the answer to that,” she said. “I’m not going to tell you!”

Ann Romney in 2008

For more detail on Ann’s dressage career, read this article from 2008: Dressage Makes Ann Romney’s Soul Sing. And here’s a more recent article from March, 2012: For Ann Romney, Horses are a Lifeline.

She has competed in amateur rounds of major dressage tournaments. She has funded dressage horses and riders of Olympic caliber. She and her husband, former Massachusetts governor Mitt Romney, have at least part-ownership of four warmbloods (as the kind of horse often used for dressage is known), according to a campaign spokeswoman.

“My horses rejuvenate me like you can’t believe” she told Fox News last week. “They give me balance. They give me energy. I think it’s because I love them so much.”

How nice for her.

Dressage demands agility and finesse — and money….Dressage, whose roots date to ancient Greece, got its name (and its pronunciation, dress-AHGE) from a French term that means “training.” According to the U.S. Dressage Federation, “its purpose is to develop the horse’s natural athletic ability and willingness to work making him calm, supple and attentive to his rider.” Unlike other types of holdings, dressage horses are living investments whose value can tumble with the wrong turn of a hoof.

The Romneys, through a campaign aide, declined to tally how much they spend on dressage, saying, “We are not required to disclose this information.” But some of their animals cost more than $100,000, and the Romneys continue to sink tens of thousands of dollars into year-round training and feeding, plus veterinary bills.

Ann learned how to use horseback riding for healing at a very exclusive clinic

run by an accomplished trainer and German emigre named Jan Ebeling, owner of state-of-the-art stables north of Simi Valley at a ranch known as the Acres. Ebeling and his wife, Amy, hosted Romney often. “I would probably come out once a month to once every six weeks for about a week,” Romney recalled.

The Acres is home to a 40-stall barn, indoor arena, dressage ring and obstacle courses. There are steep and dusty trails on the state-owned acreage nearby. Trusted James Herriot-type veterinarians and farriers and a young German assistant tend to the animals and take them through their paces; other horses, nursing injuries or strains, are pampered in the barn.

On Ann’s birthday, Donald Trump threw a party for her and provided a cake that celebrated her love of horses and dressage.

The cake, created by celebrity chef Buddy Valastro, of the TV show “Cake Boss,” is topped with a sugar-coated Romney riding atop a horse standing in a field of green frosting. Romney is an avid horseback rider and often goes riding to soothe the symptoms of her multiple sclerosis.

These two people really are not like you and me. Is it so cruel to point that out? I really do have a hard time feeling sorry for Ann. She and Mitt desperately need to learn how to deal with the wealth issue. At HuffPo, English professor Mark Cassello offered some free advice:

It is not Romney’s wealth that makes him unable to relate. It is his incapacity to acknowledge the privileged position from which he began. It is admirable that he worked his way up from being an “entry level” consultant to an executive in the Boston Consulting Group. Unfortunately, this achievement will not resonate with the real grinders who build, fuel, and deliver America. For them, being a consultant is as foreign an experience as choosing a car elevator for a new house in La Jolla.

If the question about being too rich to relate is asked again (and it will be), Romney should answer this way: “I understand why people might feel that way about me. Most Americans do not have parents who are governors or corporate executives. I was born in a very fortunate financial situation. But the more important, and more American, story is how my family labored for generations to provide me with the opportunities that have blessed my life. As president, I want to bring opportunity to a new generation of Americans, so they will feel empowered to pursue the dreams they have for their families and for their communities.”

It’s good advice, but somehow, I just can’t imagine Romney having the humility to say something like that.

Charles Pierce, who knows the Romneys better than most journalists, offered some suggestions for Romney on his path to dumping the Tea Partiers and tacking away from the far right agenda he’s been pushing during the primaries. Unfortunately, I can’t quote the whole thing, but here’s a taste:

God, you people are saps. You didn’t see this coming? I pandered and I pandered, and then, every night, I went back to my hotel room, stuck my fingers down my throat, and then had a good laugh. You think that whole “Etch-a-Sketch” thing was a staff blunder? Honkies, please. Could I have signaled more clearly that your audience with me was over? Smedley? Show these lovely people waving their Bibles and their rubber fetuses the door, will you? Lovely to have met you. Really. We must do this again some time. Say, if we’re all really lucky, and I’ve always been luckier than you poor deluded hayshakers, maybe the summer of 2015? It’s a date. We have a lovely parting gift for you.

Me.

Haven’t you goobers caught on yet? I am running for president because I am supposed to be president. That is the essence of my political philosophy. That is the basic tenet of my fundamental ideology. I should be president because I am rich and handsome and my great-granchildren are already financially bulletproof to the point where, if my pals in the financial-services “industry” crash the economy completely, and animal hides become the medium of exchange again, my great-grandchildren will have more pelts than anyone else, and they will rule the world. I should be president because I should be president. And because…

I’m Mitt Romney, bitches, and I’m all you got left.

Now that’s more like it! There’s lots more at the link.


Tuesday Reads

Good Morning!! Let’s see what’s in the news today.

Mitt Romney has been whining about the “liberal media” giving him a hard time, but a new Pew survey has found that the “liberal media” are friendlier to Mitt Romney than President Obama. Adam Serwer at Mother Jones:

The Liberal Media has consistently given more positive coverage to likely Republican Presidential candidate Mitt Romney compared to President Barack Obama, according to a new survey of media coverage from the Pew Research Center’s Excellence in Journalism Project.

During the early weeks of 2012, Romney’s media coverage was slightly negative—between January 2 and February 26, 33 percent of the stories about the ex-Massachusetts governor were positive and 37 percent were negative, according to Pew’s analysis. But Romney has received mostly positive coverage since then (47 percent positive to 24 percent negative). By contrast, according to the report, President Barack Obama “did not have a single week in 2012 when positive coverage exceeded negative coverage.”

Check out the full report at the Pew link.

Florida Rep. Allen West was booted from an NAACP fund-raiser because of his claim that around 80 Democrats in the House of Representatives are card-carrying members of the Communist Party.

Rep. Allen West (R-Fla.) was supposed to be the keynote speaker at a fundraiser for his district chapter of the National Association for the Advancement of Colored People (NAACP) this past Saturday. But days before the event, the group canceled the gathering and asked West not to come back when they rescheduled. Why?

“There’s a certain statement he made about Communists,” Jerry Gore, president of the Martin County NAACP, told Scripps Treasure Coast Newspapers. “That statement alone … we do not represent that type of atmosphere.”

But that didn’t keep West from making more ludicrous remarks. Yesterday, he claimed that the Muslim Brotherhood is “being allowed to influence strategy.”

Rep. Allen West (R-Fla.) criticized the FBI on Monday for removing nearly 900 pages of training material it deemed to be offensive, saying it showed extremist Muslim groups were influencing national strategy.

The FBI made the move after Sen. Dick Durbin (D-Ill.) complained about some passages, including one that advised agents to “never attempt to shake hands with an Asian” and another that said agents should expect “outbursts” from Arab minds.

West said that by removing such passages, the FBI was committing “cultural suicide” and allowing groups like the Muslim Brotherhood to influence U.S. policy.

“We have to understand that when tolerance becomes a one-way street it leads to cultural suicide,” West told “Fox and Friends” on Monday. “We should not allow the Muslim Brotherhood or associated groups to be influencing our national strategy.”

When asked if he believed those groups were influencing U.S. strategy, West responded, “Oh, absolutely,” and cited the Fort Hood, Texas, shooting report that didn’t mention the suspect’s Muslim faith as a potential motive for the killings.

In another throwback to the McCarthy era, a few days ago Bill O’Reilly accused Robert Reich of being a communist.

Yesterday, Reich responded: Communist Accusations Matter.

For the record, I’m not a communist and I don’t secretly adore Karl Marx.

Ordinarily I don’t bother repeating anything Bill O’Reilly says. But this particular whopper is significant because it represents what O’Reilly and Fox News, among others, are doing to the national dialogue….

O’Reilly based his claim on an interview I did last week with Jon Stewart on the Daily Show, in which I argued that because America’s big corporations were now global we could no longer rely on them to make necessary investments in human capital or to lobby for public investments in education, infrastructure, and basic R&D. So, logically, government has to step in.

Since when does an argument for public investment in education, infrastructure, and basic R&D make someone a communist or a secret adorer of Karl Marx?

Since the Tea Party crazies crawled out from under their rocks and took over the Republican Party, I guess. I sure wish they’d crawl back where they came from.

Now this is refreshing. Sen. Tom Harken defended Social Security in the Huffington Post yesterday, and proposed some solutions to future problems:

To strengthen America’s retirement system, my proposal would increase Social Security benefits and greatly improve the financial stability of the program. It does so by:

• Increasing the amount of earnings covered by higher replacement rates in order to increase benefits by approximately $60-70 per month
• Changing the way the COLA is calculated so that it better corresponds to the typical expenses of seniors
• Removing the cap, currently $110,100, that unfairly protects the highest earning Americans from paying into Social Security like the majority of hardworking Americans.

All told, according to the Social Security Actuary, this proposal would extend the life of the Social Security Trust Fund to 2052 while cutting the long term funding deficit in half.

I’m sure Mitt Romney will explain to Senator Harkin why it would be wrong to try to raise payroll taxes on high income “job creators.”

Speaking of Willard, the LA Times had an interesting story on Romney’s health care plan–they call it “revolutionary,” and not in a good way.

In public, Romney has only sketched the outlines of a plan, and aides have declined to answer questions about the details. But his public statements and interviews with advisors make clear that Romney has embraced a strategy that in crucial ways is more revolutionary — and potentially more disruptive — than the law Obama signed two years ago.

The centerpiece of Romney’s plan would overhaul the way most Americans get their health coverage: at work. He would do so by giving Americans a tax break to buy their own health plans. That would give consumers more choices, but also more risk.

Critics and independent analysts say the impact would probably leave a larger number of Americans without insurance.

In addition,

While offering consumers more choices, Romney’s plan would give companies strong incentives to stop providing insurance to workers. It also would overhaul the 46-year-old Medicare and Medicaid programs for the elderly, poor and disabled.

The plan could swell the federal deficit; a similar plan backed by Sen. John McCain (R-Ariz.) during the 2008 presidential campaign would have cost more than $1 trillion over 10 years, on par with the price tag for the Obama healthcare law.

Romney keeps claiming he’s going to cut the deficit. Somehow I don’t think privatizing Social Security, Medicare, and Medicaid will do that. Maybe he thinks he can end those programs completely.

Democracy Now has been running a series on NSA spying. A good starting point is this article at Alternet: Whistleblower: The NSA is Lying — The U.S. Government Has Copies of Most of Your Emails

National Security Agency whistleblower William Binney reveals he believes domestic surveillance has become more expansive under President Obama than President George W. Bush. He estimates the NSA has assembled 20 trillion “transactions” — phone calls, emails and other forms of data — from Americans. This likely includes copies of almost all of the emails sent and received from most people living in the United States.

While you’re at Alternet, here’s another article you should read: How Obama Became a Civil Libertarian’s Nightmare

When Barack Obama took office, he was the civil liberties communities’ great hope. Obama, a former constitutional law professor, pledged to shutter the military prison at Guantanamo Bay, Cuba, and run a transparent and open government. But he has become a civil libertarian’s nightmare: a supposedly liberal president who instead has expanded and fortified many of the Bush administration’s worst policies, lending bipartisan support for a more intrusive and authoritarian federal government.

Please go read the whole thing and then check out Glenn Greenwald’s take on the story.

As I’m sure everyone here knows, we don’t live in a democracy anymore.

So what are you reading and blogging about today?