Thursday Reads

Posted: May 31, 2012 | Author: | Filed under: 2012 presidential campaign, Barack Obama, Mitt Romney, morning reads, U.S. Politics, unemployment | Tags: , , , , , , , , , , , , , , , , , , , , | 39 Comments

Good Morning!! I’ve got a mixed bag of reads for you this morning, so I hope there will be something her to interest you.

Did you see the piece in The New York Times on Obama’s “secret kill list?” Very creepy. The article makes it clear that President Obama is actively engaged in decisions about which “terrorists” to target with drone attacks.

Mr. Obama is the liberal law professor who campaigned against the Iraq war and torture, and then insisted on approving every new name on an expanding “kill list,” poring over terrorist suspects’ biographies on what one official calls the macabre “baseball cards” of an unconventional war. When a rare opportunity for a drone strike at a top terrorist arises — but his family is with him — it is the president who has reserved to himself the final moral calculation.

“He is determined that he will make these decisions about how far and wide these operations will go,” said Thomas E. Donilon, his national security adviser. “His view is that he’s responsible for the position of the United States in the world.” He added, “He’s determined to keep the tether pretty short.”

At Slate, William Saletan breaks down the problems with the Times story and explains why the supposedly strict rules for choosing which people to target are really pretty meaningless.

To understand the Times story, you have to go back to a speech given last month by John Brennan, Obama’s counterterrorism adviser. Brennan argued that the administration was waging drone warfare scrupulously. He described a rigorous vetting process. The Times report, quoting some officials and paraphrasing others, largely matches Brennan’s account. But on two key points, it undermines his story. The first point is target selection. Brennan asserted:

The president expects us to address all of the tough questions. … Is this individual a significant threat to U.S. interests? … Our commitment to upholding the ethics and efficacy of this counterterrorism tool continues even after we decide to pursue a specific terrorist in this way. For example, we only authorize a particular operation against a specific individual if we have a high degree of confidence that the individual being targeted is indeed the terrorist we are pursuing. This is a very high bar. … Our intelligence community has multiple ways to determine, with a high degree of confidence, that the individual being targeted is indeed the al-Qaida terrorist we are seeking.

The rules sound strict. But reread the fourth sentence: “We only authorize a particular operation against a specific individual if we have a high degree of confidence that the individual being targeted is indeed the terrorist we are pursuing.” The phrase “against a specific individual” hides the loophole. Many drone strikes don’t target a specific individual. To these strikes, none of the vetting rules apply.

At Salon, Jefferson Morley explores the death of one little girl who was “collateral damage” in one of Obama’s drone strikes in Pakistan in 2010.

Around midnight on May 21, 2010, a girl named Fatima was killed when a succession of U.S.-made Hellfire missiles, each of them five-feet long and traveling at close to 1,000 miles per hour, smashed a compound of houses in a mountain village of Mohammed Khel in North Waziristan along the Afghanistan-Pakistan border. Wounded in the explosions, which killed a half dozen men, Fatima and two other children were taken to a nearby hospital, where they died a few hours later.

Behram Noor, a Pakistani journalist, went to the hospital and took a picture of Fatima shortly before her death. Then, he went back to the scene of the explosions looking for evidence that might show who was responsible for the attack. In the rubble, he found a mechanism from a U.S.-made Hellfire missile and gave it to Reprieve, a British organization opposed to capital punishment, which shared photographs of the material with Salon. Reprieve executive director Clive Stafford Smith alluded to the missile fragments in an Op-Ed piece for the New York Times last fall. They have also been displayed in England.

“Forensically, it is important to show how the crime of murder happened (which is what it is here),” said Stafford Smith in an email. “One almost always uses the murder weapon in a case. But perhaps more important, I think this physical proof — this missile killed this child — is important to have people take it seriously.”

Tuna that is contaminated with Fukushima radiation has shown up in California.

Bluefin tuna contaminated with radiation believed to be from Fukushima Daiichi turned up off the coast of California just five months after the Japanese nuclear plant suffered meltdown last March, US scientists said.

Tiny amounts of cesium-137 and cesium-134 were detected in 15 bluefin caught near San Diego in August last year, according to a study published on Monday in the journal Proceedings of the National Academy of Sciences.

The levels were 10 times higher than those found in tuna in the same area in previous years but still well below those that the Japanese and US governments consider a risk to health. Japan recently introduced a new safety limit of 100 becquerels per kilogram in food.

The timing of the discovery suggests that the fish, a prized but dangerously overfished delicacy in Japan, had carried the radioactive materials across the Pacific Ocean faster than those conveyed by wind or water.

There’s a new smartphone for those in Japan who want to know if they are in a “radiation hotspot.”

Mobile phone operator Softbank Corp said on Tuesday it would soon begin selling smartphones with radiation detectors, tapping into concerns that atomic hotspots remain along Japan’s eastern coast more than a year after the Fukushima crisis….

The smartphone in the company’s “Pantone” series will come in eight bright colors and include customized IC chips made by Sharp Corp that measure radiation levels in microsieverts per hour.

The phone, which goes on sale this summer, can also keep track of each location a user tests for radiation levels.

And get this– NASA says that the earthquake and tsunami in Japan “disturbed the upper atmosphere.”

The massive earthquake and tsunami that hit Fukushima, Japan, last year wreaked havoc in the skies above as well, disturbing electrons in the upper atmosphere, NASA reported.

The waves of energy from the quake and tsunami that were so destructive on the ground reached into the ionosphere, a part of the upper atmosphere that stretches from about 50 to 500 miles (80 to 805 km) above Earth’s surface.

Greg Sargent discusses the surreal double-standard that Romney is using to compare his record in Massachusetts with Obama’s record as President.

You really couldn’t make this one up if you tried.

The Romney campaign is out with a new press release blasting Obama for presiding over a “net” loss in jobs. As I’ve been saying far too often, this metric is bogus, because it factors in the hundreds and hundreds of thousands of jobs the economy was hemorrhaging when Obama took office, before his policies took effect.

But this time, there’s an intriguing new twist in the Romney campaign’s argument.

In the same release attacking Obama over “net” job loss, the Romney camp also defends Romney’s jobs record as Governor of Massachusetts by pointing out … that Romney inherited a state economy that was losing jobs when he took office.

Seriously.

Check it out.

At Alternet, Steven Rosenfeld lists “five reasons the ‘Geezer Empire’ of Billionaire Republicans Are Showering Romney With Cash.” I’m can’t really excerpt this one. You need to go read the article for yourself.

The British supreme court found that Julian Assange must be extradited to Sweden, but in a surprise reversal, Assange has been given 14 days to “consider a challenge to the judgment.”

Julian Assange’s fight against extradition to Sweden may stagger on to a second round at the supreme court after he was granted permission to submit fresh arguments.

Despite losing by a majority of five to two, his lawyers have been given 14 days to consider whether to challenge a central point of the judgment on the correct interpretation of international treaties.

The highly unusual legal development came after the supreme court justices decided that a public prosecutor was a “judicial authority” and that therefore Assange’s arrest warrant had been lawfully issued.

Assange, who is wanted in connection with accusations of sexual assault and rape in Sweden, was not in court; there was no legal requirement for him to be present. According to his solicitor, Gareth Peirce, he was stuck in central London traffic and never made it to the court in Westminster. Assange denies the accusations.

At The Daily Beast, Malcolm Jones discusses how American culture has changed such that Bob Dylan has received the Presidential Medal of Freedom. Jones points out that very few folk or rock musicians have been so honored. Certainly, Dylan is a “game changer”:

You don’t have to like or admire Dylan to admit that he was a game changer. He made folk music hip. He made rock lyrics literate or, put another way, he made his audience pay attention to lyrics because he made them mean something. He blew a hole in the notion that radio hits have to clock in at less than three minutes. He proved that you can stand on a stage with just a guitar and not much of a voice and hold people’s attention for, oh, about five decades. By the way you can read affordable guitar reviews at topsevenreview.com if you want. He wrote songs in his 20s that he can still sing today without a trace of embarrassment.

Dylan was distinctly an outsider, and there he remained for quite a while. It’s juvenile fun watching old press conferences when reporters did finally come calling later in the decade. The questions are so dorky. But what you realize is that the national press at that time had almost no one in its ranks that we would recognize as music writers. Most of the reporters sent to interview Dylan were 40-somethings in suits who treated him like Chubby Checker, just another flash in the pan phenom to be indulged. Instead, they found a musician who was the smartest man in any room, and someone who was more than happy to make fun of them (“You walk into the room, with your pencil in your hand …”).

The point is, in the mid-60s there really was an establishment and an anti-establishment (to be upgraded to a counterculture in a couple of years), and no one doubted which side of the line Dylan stood on. Back then, there were bitter fights over high culture and low, insiders and outsiders, and who got to say who was who. In 1965, the Pulitzer board refused to give a prize to Duke Ellington.

Over the years, all of that has more or less collapsed in on itself. Pulp fiction writers are in the American canon. Brian Wilson is understood to be a great American artist and not merely a great pop songwriter. The times did change, and Dylan was in the thick of making it happen.

But perhaps most telling is that Dylan is an old man now; his age is the one thing he has in common with others who have received the medal, but Jones says:

It’s cheap and easy to say that Dylan is now a member of the establishment. It’s also wrong, because there is no longer an establishment as we once knew it. And Dylan and his music had everything to do with that.

Interesting. So I’ll end with this:

What are you reading and blogging about today?

Monday Reads

Posted: May 28, 2012 | Author: | Filed under: Foreign Affairs, Fox News, Mitt Romney, morning reads, Republican presidential politics, Syria, The DNC, U.S. Politics | Tags: , , , , , , , , , , , , , , , , , , | 24 Comments

Good Morning!!

I’m filling in for Dakinikat today, while she wends her way back down to New Orleans after her daughter’s great big Bollywood wedding. It’s another very slow news day today, but I’ve tried to dig up some interesting reads for you anyway.

The U.N. Security Council has condemned Syria’s government for the Houla massacre.

An emergency council meeting in New York on Sunday accused President Bashar al-Assad’s forces of unleashing havoc in the town, calling the bombardment of residential areas “an outrageous use of force” which violated international law.

“The security council condemned in the strongest possible terms the killings, confirmed by United Nations observers, of dozens of men, women and children and the wounding of hundreds more … in attacks that involved a series of government artillery and tank shellings on a residential neighbourhood,” the non-binding statement said.

Russia, which has resisted previous western-led condemnations of its Damascus ally, signed up to the declaration, signalling the extent of revulsion over images of infant corpses lined side by side after Friday’s slaughter, one of the worst incidents in the 14-month conflict.

You probably heard that John McCain, who for mysterious reasons is a permanent fixture on the Sunday talk shows even though he’s wrong about everything, has called Obama’s foreign policy and especially his caution on Syria “feckless.” The Villagers really love that word for some reason….why not just say “irresponsible” or “lazy”? Those are some of the definitions of the word.

On the other hand, outgoing Indiana Senator Richard Lugar, who is a lot more thoughtful than McCain, thinks Obama is right to be cautious on Syria. From TPM:

“I think that he has been very cautions. And I think that he’s cautions because he’s in the process of withdrawing our troops along with NATO from Afghanistan, pivoting our policy toward China and the east, more toward a situation of using robots – the ability to not to have to send in troops. It’s a difficult situation. So when you talk about Syria, and you talk about troops or intervention, the president has been very cautious. I think properly so.”

Also on the Sunday shows, Bob Shieffer asked Romney adviser Ed Gillespie why Mitt won’t appear anywhere except Fox News. Gillespie responded that Romney meet with “some schoolchildren last week.” Shieffer said, “I know schoolchildren are happy to see him.”

Good one, Bob!

On Candy Crowley’s show Rudy Giuliani was supposed to be playing surrogate for Romney and pulled a Cory Booker. Giuliani began by announcing that Romney is “the perfect choice” and then proceeded to “trash” Romney’s Massachusetts record while “explaining” his trashing of Romney back in 2008.

“Well, I mean, there’s a certain amount of personal ego in that — at that point, I was probably comparing his record to my record,” he said about his dings at Romney. “And maybe it was circumstances or whatever, but I had massive reductions in unemployment. He had a reduction in unemployment of about 8,10 percent — I think it was 15 percent. I had a reduction of unemployment of 50 percent. He had a growth of jobs of about 40,000; we had a growth of jobs of about 500,000. So I was comparing what I thought was my far superior record to his otherwise decent record. … That’s all part of campaigning.”

But, he added, Romney is much better than President Barack Obama.

I guess it’s still not quite as bad as the “endorsement” Romney got from Mitch Daniels.

Politico has a somewhat long piece for them on why Republicans are afraid that Romney “lacks the ‘vision thing'” For example:

“At the end of the day, you can’t just be all, you know, anti-Obama,” said former Ohio Secretary of State Ken Blackwell, whose state is key to Romney’s chances. “It has to be, I think, two parts that and one part here’s the antidote, here’s the vision, here’s the path that I would like to lead America down.”

And GOP strategist Mark McKinnon — who advised former two-term Republican president George W. Bush — said it’s time for Romney to outline his agenda.

“It’s important to establish the problem when you are a challenger because you are asking voters to fire the incumbent. So, Romney has to file his grievances,” McKinnon said. “But at some point he has to show that he has a vision of a better way. He can’t just say ‘The future is bleak, follow me.’ Because no one will.”

That sounds a little bit like the “advice” Mitch Daniels gave to Mitt. Sadly, Mitt has no vision for a better way. He just wants to be King so he can order everyone around and fire people when he feels like it.

I’ve been so focused on politics for the past several years that I’ve somewhat lost touch with popular culture. So it came as a shock to me today when reading an article about the Cannes Film Festival that one of the movies being shown there is an adaptation of Jack Kerouac’s On The Road. I knew instantly it would be horrible. Every Kerouac adaptation has been.

I used to be fascinated by Kerouac. I was on the Lowell, MA, Kerouac Festival Board for a few years, I’ve done two major research projects on Kerouac’s life and work, one of which I presented at at academic conference. I’ve read everything Kerouac has written, including his letters. I will never see this film, because I don’t want the book ruined for me. Trust me on this, just read the book if you haven’t already, and skip the movie.

The Washington Post has a piece on the Wisconsin recall election which is coming up on June 5: Scott Walker’s fate will have November implications.

Walker made national headlines last year when he eliminated most collective-bargaining rights for public employee unions, triggering huge protests. The fight put friends, neighbors and family members on opposite sides and left the state as polarized as any in the nation. It will culminate in next month’s recall election, only the third for a sitting governor in U.S. history.

The Democrats need to get off their butts and into Wisconsin soon or Walker is going to win. That would be disastrous, and would likely put the state in play for Romney in November. Wisconsin Democrats have been begging for help from the DNC, and it has been slow in coming.

I recently heard an interesting interview on NPR about Lulu DeCarrone, a coffee shop owner who decided to pull the plug on WiFi in her shop. She suddenly realized that her customers were sitting alone at tables for hours just staring at their computers and not talking. No one was having fun anymore and Lulu wasn’t making much money either. Quoting her:

It happened around three or four years ago. One afternoon, I was standing behind the counter and I allowed laptops for a while. And there were four tables, and four people sitting with laptops there. And I remember thinking, “This is like a crypt. I don’t like the feel of it.” Well, two ladies came in a little bit later and they were having such a good time. They were old friends, they haven’t seen each other in a long time and they were laughing and just carrying on. And the people who were sitting on the laptops kept glaring at them. And I made the decision right then and there. I thought I would rather lose my business and sell pencils out of a hat in front of the British Art Museum, than have this atmosphere in my store….

I thought, “Oh my God, maybe no one will come. Maybe I’ll lose it.” And I swear to you, that I was willing to do that. But it worked in reverse. I am the absolute opposite of what Starbucks does, and I’m very happy about it.

It’s become like Mecca for people who are disgusted. I never expected this. This has blown my mind; I never thought that would happen. I get compliments every single day. So I think that’s what it’s given me: Not a big bank account, certainly not driving a fancy car — but it has given me something that’s much harder to get, joy.

I’m no Luddite, but I have to admit, I do get disgusted sometimes the way gadgets have taken over and replaced socializing in public. When I was teaching at a large university, it was rare to see a student who wasn’t either listening to music on headphones, talking on the phone, or texting. They were completely out of touch with whatever was happening in their surroundings in the present moment. And so I also enjoyed this piece at the WaPo on people who ruin things for everyone around them by talking loudly on their cell phones. Here’s a sample:

I love taking the train and typically enjoy the ride. It can be so peaceful, and you don’t have the stress that comes with flying. But if I don’t get a seat in the “quiet car” that Amtrak has designated for those us who want peace, I’m privy to some conversations that should only be conducted in private.

I understand the occasional short conversation to let someone know when to pick you up or that the train is running late, but people are holding long and involved conversations, often about inane stuff. Businessmen are barking orders or, in one case I overheard, holding a conference call. I really don’t want to know your business.

On a recent Amtrak trip, a woman sat next to me and made a call to her friend who, I learned, was afraid she had a sexually transmitted disease. Thankfully, another seat opened up and the woman moved. But I could still hear her describing the test for the disease.

And have you noticed that many people seem to have no compunction about making you wait while they take calls? Why not just call the person back later and talk to the person you’re with?

OK, that’s all I’ve got. What are your recommended links for today?

Thursday Reads: Romney’s Lies, Debt Ceiling Showdown, and Dimonfreude

Posted: May 17, 2012 | Author: | Filed under: Barack Obama, Corporate Crime, corporate greed, Economy, House of Representatives, Mitt Romney, morning reads, Surreality, The Media SUCKS, U.S. Economy, U.S. Politics, unemployment, voodoo economics, Voter Ignorance | Tags: , , , , , , , , , | 22 Comments

Good Morning!

On Tuesday night I wrote a brief post about the bizarre speech Mitt Romney gave in Des Moines, Iowa earlier that day. I was struck by Romney’s childish effort to get at President Obama by talking about Bill Clinton’s economic policies and claiming that Obama must have ignored those policies because he has some kind of grudge against both Clintons. It was so strange and off key that I thought Romney sounded like a crotchety old busybody gossiping over the backyard fence.

I didn’t really even go into the many baldfaced lies Romney told in the speech–I guess I’ve become so accustomed to his total refusal to confine himself to reality as it is that I almost don’t notice it anymore. Basically, Romney attacked Obama the deficit that was primarily created by Bush, and made his usual claims that he (Romney) will be able to cut taxes by 20 percent, increase defense spending, and at the same time magically balance the budget and dramatically reduce unemployment. Only a moron would buy what he’s selling.

Yesterday, a number of bloggers commented on that speech, so I thought I’d share some of those reactions in this morning’s reads.

Steve Benen at Maddowblog: A peek into an alternate reality.

Mitt Romney delivered a curious speech in Iowa yesterday, presenting his thoughts on the budget deficit, the debt and debt reduction, which is worth reading if you missed it. We often talk about the problem of the left and right working from entirely different sets of facts, and how the discourse breaks down when there’s no shared foundation of reality, and the Republican’s remarks offered a timely peek into an alternate reality where facts have no meaning.

Even the topic itself is a strange choice for Romney. If the former governor is elected, he’ll inherit a $1 trillion deficit and a $15 [trillion] debt, which he’ll respond to by approving massive new tax cuts and increasing Pentagon spending. How will he pay for this? No one has the foggiest idea.

In other words, the guy who intends to add trillions to the debt gave a speech yesterday on the dangers of adding trillions to the debt.

Benen says he doesn’t believe Romney is “stupid,” but he must be “operating from the assumption that voters are stupid.” I’d say that’s true. I think Romney believes that he’s much smarter and more worthy than just about anyone and that poor and middle-class people are beneath contempt.

Jonathan Cohn at The New Republic: Romney’s Make-Believe Story on the Economy. Cohn writes about Romney’s claims that Obama’s failure to reduce the deficit is the cause of the “tepid recovery,” unemployment, and the struggles of seniors to get by on fixed incomes.

Note the way Romney establishes cause and effect here: Obama’s contribution to higher deficits are the reason more people can’t get work and more seniors can’t make ends meet right now. This is an audacious claim and, while I’m no economist, I’m pretty sure it places Romney on the outer edges of the debate among mainstream scholars.

I know of serious conservatives who think the Recovery Act, which has increased deficits temporarily, didn’t ultimately do much to create jobs in the near term. And I know of serious conservatives who think that creating jobs now wasn’t worth the long-term downside of adding to the federal debt, however incrementally. Both viewpoints seem to represent minority views, if a recent University of Chicago survey of leading economists is indicative. But the arguments have at least some logic to them.

But Romney’s suggestion that unemployment today is a consequence of Obama’s contribution to the deficit (real or imagined) requires further leaps of logic. You’d have to argue, for example, that extensions of unemployment benefits have reduced incentives to work (despite research to the contrary) and that such negative effects substantially outweigh the positive effects of traditional stimulus measures. It’s not impossible to make this case. I think Casey Mulligan, also of the University of Chicago, has written things along these lines for the New York Times. But, unless I’m missing something, that argument is even more marginal than suggestions the Recovery Act didn’t help at all.

I suspect that even Cohn’s effort to make sense of Romney’s fantasy economic theory will have Dr. Dakinikat pulling her hair out.

Jonathan Chait at New York Magazine: Romney’s Budget Fairy Tale.

In the real world, the following things are true: The budget deficit was projected to top $1 trillion even before President Obama took office, and that was when forecasters were still radically underestimating the depth of the 2008 crash. Obama did propose temporary deficit-increasing measures, an economic approach endorsed in its general contours, if not its particulars, by Romney’s economists. These measures contributed a relatively small proportion to the deficit, and their effect is short-lived. Obama instead focused on longer-term measures to reduce the deficit, including comprehensive health-care reform projected to reduce deficits by a trillion dollars in its second decade. Obama put forward a budget plan that would stabilize the debt as a percentage of the economy. Obama has hoped to achieve deeper long-term deficit reduction by striking bipartisan deals with Congress, and he has tried to achieve this goal by openly endorsing a bipartisan deficit plan in the Senate and privately agreeing to a more conservative plan with John Boehner, both of which were killed by Republican opposition to any higher revenue.

But Romney doesn’t seem to live in the real world, and Chait suggests that Romney either doesn’t understand how deficits work or doesn’t care if what he says makes any sense at all.

In Romney’s telling, the terms debt and spending are essentially interchangeable. When presented with Obama’s position — that the solution to the debt ought to include both higher taxes and lower spending — he rejects it out of hand. Naturally, Romney has admitted before that his budget plan “can’t be scored.” It’s an expression of conservative moral beliefs about the role of government. While loosely couched in budgetary terms, Romney is expressing an analysis that resides outside of, and completely at odds with, mainstream macroeconomic forecasting and scoring assumptions.

At the Plum Line, Greg Sargent discusses How Mitt Romney gets away with his lying.

If you scan through all the media attention Romney’s speech received, you are hard-pressed to find any news accounts that tell readers the following rather relevant points:

1) Nonpartisan experts believe Romney’s plans would increase the deficit far more than Obama’s would.

2) George W. Bush’s policies arguably are more responsible for increasing the deficit than Obama’s are.

Oh, sure, many of the news accounts contain the Obama campaign’s response to Romney’s speech; the Obama campaign put out a widely-reprinted statement arguing that Romney’s plans would increase the deficit and that he’d return to policies that created it in the first place.

But this shouldn’t be a matter of partisan opinion. On the first point, independent experts think an actual set of facts exists that can be used to determine what the impact of Romney’s policies on the deficit would be. And according to those experts, based on what we know now, Romney’s policies would explode the deficit far more than Obama’s would.

Obviously, the problem is the obsequious corporate media. But the Romney campaign makes it impossible for even the few remaining serious reporters to question his policies by keeping the candidate completely insulated from the press except for occasional appearances on Fox News and lightweight network morning shows like Good Morning America. Yesterday, Politico reprinted tweets from several reporters who were “physically” blocked from talking to Romney on a rope line.

Speaking of Republican ignorance of basic economics, House Republicans are gearing up for another pitched battle on increasing the debt ceiling. Speaker John Boehner met with President Obama at the White House today and they “clash[ed] over” increasing the debt limit, according to The Hill.

The president convened the meeting of the bipartisan congressional leadership to discuss his “to-do list” for Congress, but an aide to the Speaker said the bulk of the meeting was spent on other issues, including a pile-up of expiring tax provisions and the next increase in the federal debt limit.

Boehner asked Obama if he was proposing that Congress increase the debt limit without corresponding spending cuts, according to a readout of the meeting from the Speaker’s office. The president replied, “Yes.” At that point, Boehner told Obama, “As long as I’m around here, I’m not going to allow a debt-ceiling increase without doing something serious about the debt.”

Shortly after the meeting, White House press secretary Jay Carney told reporters that the president warned the leadership that he would not allow a repeat of last August’s debt-ceiling “debacle,” which led to a downgrade in the U.S. credit rating.

Sigh……

In a related story, there’s this piece at Wonkblog about the Pete Peterson summit and how Democrats talked long-windedly about cutting “entitlements,” and Republican refused to talk about tax increases. Read it and weep. I’m not even going to quote from it, because it’s too damn depressing.

So far Jamie Dimon seems to have survived the $2 billion loss recently suffered by J.P. Morgan.

The CEO of JPMorgan Chase survived a shareholder push Tuesday to strip him of the title of chairman of the board, five days after he disclosed a $2 billion trading loss by the bank.

CEO Jamie Dimon also won a shareholder endorsement of his pay package from last year, which totaled $23 million, according to an Associated Press analysis of regulatory filings.

Dimon, unusually subdued, told shareholders at the JPMorgan annual meeting that the company’s mistakes were “self-inflicted.” Speaking with reporters later, he added: “The buck always stops with me.”

Yeah, right. The buck will stop with the taxpayers if Dimon’s bank ultimately crashes and burns. Bill Moyers asked economist Simon Johnson about that.

Moyers: I was just looking at an interview I did with you in February of 2009, soon after the collapse of 2008 and you said, and I’m quoting, “The signs that I see… the body language, the words, the op-eds, the testimony, the way these bankers are treated by certain congressional committees, it makes me feel very worried. I have a feeling in my stomach that is what I had in other countries, much poorer countries, countries that were headed into really difficult economic situations. When there’s a small group of people who got you into a disaster and who are still powerful, you know you need to come in and break that power and you can’t. You’re stuck.” How do you feel about that insight now?

Johnson: I’m still nervous, and I think that the losses that JPMorgan reported — that CEO Jamie Dimon reported — and the way in which they’re presented, the fact that they’re surprised by it and the fact that they didn’t know they were taking these kinds of risks, the fact that they lost so much money in a relatively benign moment compared to what we’ve seen in the past and what we’re likely to see in the future — all of this suggests that we are absolutely on the path towards another financial crisis of the same order of magnitude as the last one.

A number of shareholders have sued Dimon over the losses, according to Bloomberg (via the SF Chroncle). And of course lots of people are gloating over Dimon’s getting temporarily knocked off his pedestal. Jena McGregor writes in the WaPo:

It’s being called Dimonfreude.

There are barely disguised smirks emanating from the canyons of Wall Street and the business press over the fact that Jamie Dimon has had to admit a mistake — and a whale of one, for that matter.

For years, the JPMorgan CEO (and America’s least-hated banker, as he was known) has worn a halo over those pinstripes. Dimon has been called President Obama’s “favorite banker”. Institutional Investor magazine has called him the country’s best CEO for two years running. And his actions during the financial crisis have been painted in patriotic terms: Press reports said he “answered the call” from then-FDIC chairman Sheila Bair to buy Washington Mutual, one of two banks he scooped up during the financial meltdown, and he has cited a patriotic duty to a country in crisis as why he took in $25 billion in government aid.

Yet now, Dimon is in the hot seat as JPMorgan confronts a $2 billion trading loss and the early stages of a criminal probe by the Justice Department.

Finally, some sad news: Estranged Wife of Robert F. Kennedy Jr. Is Found Dead at Home in Westchester

Mary R. Kennedy, the estranged wife of Robert F. Kennedy Jr., was found dead on Wednesday at the family’s home in Bedford, N.Y. She was 52.

Ms. Kennedy’s death was confirmed in a statement from her family, who did not comment on the circumstances. The Bedford Police Department said only that it had investigated a “possible unattended death” in an outbuilding at the home.

Her lawyer, Kerry A. Lawrence, would not say whether foul play was suspected. Kieran O’Leary, a spokesman for Westchester County, said an autopsy was scheduled for Thursday morning.

Born Mary Richardson, Ms. Kennedy joined one of America’s foremost political families in 1994, in a marriage ceremony aboard a boat on the Hudson River, near Stony Point, N.Y. At the time, she was an architectural designer at Parish-Hadley Associates in New York.

Those are my suggested reads for today. What are you reading and blogging about?

Tuesday Reads

Posted: May 15, 2012 | Author: | Filed under: 2012 presidential campaign, Barack Obama, Mitt Romney, morning reads, Republican presidential politics, U.S. Economy, U.S. Politics | Tags: , , , , , , , , , , , , , , , | 29 Comments

Good Morning!! Let’s get right to the news. Yesterday wasn’t a big political news day here in the U.S. The President appeared on The View and talked about gay marriage and the Kardashians. He also pandered to young women at Barnard.

The Obama campaign released a new ad highlighting Mitt Romney’s career as a corporate “vampire” at Bain Capital.

The Obama campaign ad focuses on Bain Capital’s misadventures with GST steel of Kansas City and features former steelworkers describing what they saw between the time Bain bought the firm in 1993 and filed to put it in bankruptcy in 2001. (Romney left Bain in 1999).

“It was like a vampire. They came in and sucked the life out of us,” says one of the men. “What Bain Capital did was not capitalism, it was bad management,” says David Foster, lead negotiator for workers at GST Steel. Former steelworker Joe Soptic accuses Bain of cutting corners on safety, saying “it was like working in the sweatshops of the ’30s,” and that watching the plant close was “like watching an old friend bleed to death.”

The campaign also set up a new website to provide information about “Romney economics.”

Ron Paul announced that he won’t compete in any of the remaining primaries, but he still plans to compete with Mitt Romney for delegates to the Republican convention.

Ron Paul, the congressman from Texas and a favorite of tea partyers, effectively ended his presidential campaign Monday but urged his fervent supporters to continue working at the state party level to cause havoc for presumptive Republican nominee Mitt Romney.

In an email to supporters, Paul urged his libertarian-leaning backers to remain involved in politics and champion his causes despite the apparent end of his presidential aspirations. Paul has found success in wrecking the selection process for delegates to the party’s late-summer nominating convention in Tampa, Fla., and trumpeted that he has delayed Romney’s expected nomination….

Paul’s supporters have proved successful in winning state GOP conventions in places such as Maine and Nevada. His supporters in Iowa and Nevada were chosen to lead the state central parties.

Over the weekend, Paul’s supporters managed to boo Mitt Romney’s son Josh off the stage at the Arizona state Republican convention.

Hundreds of state GOP members were gathered at Grand Canyon University to elect delegates for the national convention in July in Tampa, Fla., which is expected to select Mitt Romney as the official Republican nominee to challenge President Obama.

“We cannot afford four more years of President Obama,” said Josh Romney, the third of Mitt Romney’s five sons. “We need someone to step in there and turn things around.”

But Josh Romney had to stop repeatedly as people booed and yelled for Paul, who has continued campaigning in the Republican primary.

What is Ron Paul up to? At HuffPo, Stewart J. Lawrence suggests that Paul may be trying to set up his son Rand Paul to become Romney’s vice presidential choice. Or perhaps he just wants a speaking role at the Convention and input into the party platform. In any case, Romney may have to deal with Ron Paul at some point.

So it was a pretty quiet day in the U.S., but not in Europe, where Greece is teetering on the brink of destruction and threatening to pull all of the Eurozone down with it. From the Washington Post: Greek deadlock heightens fears of full European economic crisis.

Political deadlock in Greece rattled world markets Monday, reviving fears that the fractious Mediterranean country could spurn an international bailout, abandon the common European currency and risk a fresh round of world economic turmoil.

European stock indexes fell, with Greece’s market now at a 20-year low, while the euro currency continued a recent decline against the dollar. U.S. stocks also fell.

Coming only days before the leaders of the world’s Group of Eight industrialized nations meet at Camp David, the standoff in Greece over its political direction has thrust Europe’s troubles to the top of the agenda. A downturn in Europe could stagger a fragile recovery in the United States and undermine growth around the world.

Some headlines from The Independent UK:

World braces itself for Greek euro exit.

Financial markets were plunged into fresh turmoil after Greece’s political parties failed once again to agree to form a unity government, and European policymakers warned that Greece’s aid payments would be cut off unless Athens quickly produced an administration prepared to deliver far-reaching economic reforms and budget cuts.

Without those funds from the European Union and the International Monetary Fund, Greece could run out of cash to meet its national debt interest payments as early as next month. The country would then have no option but to default. Most analysts expect that a default would be a prelude to Greek exit from the single currency altogether.

Panic and violence in the streets as protesters turn against politicians.

Southern Europe is preparing for a summer of discontent as protesters of all ages, and from across the political spectrum, plan demonstrations against greater austerity measures and against those policymakers who say there is no alternative to cuts.

Up to 50,000 “Indignant Ones” gathered in Madrid’s Puerta de Sol area on Saturday, many more than expected, to demonstrate against the Spanish government’s austerity measures. But, as indignant as they might have been, there were fewer on the streets for what was billed as an even bigger rally on Sunday, despite a message of support from the US rocker Bruce Springsteen.

A public holiday in Madrid today is likely to draw another protest, and one group almost certain to be there is the yayoflautas, a collection of people in their sixties and seventies, and who were involved in anti-Franco protests. The group has staged sit-ins in banks, radio stations, hospitals and even the reception area of a ratings agency.


Angela Merkel’s party humiliated by shock election defeat

Angela Merkel’s ruling conservatives suffered a humiliating defeat in key elections in Germany’s most populous state yesterday when voters rejected her party’s austerity policies and handed a resounding victory to her pro-growth Social Democratic Party opponents.

Ms Merkel’s Christian Democrats were shell-shocked by the devastating result they returned in the poll in North Rhine Westphalia, which has a total population of 18 million. Exit polls showed that they secured a mere 25.5 per cent of the vote – their worst performance ever in the state….

By contrast, the pro-growth Social Democrats and their candidate Hannelore Kraft, 50, romped home with 38 per cent of the vote. They were expected to form a so-called Red-Green coalition with the environmentalist Greens who won around 12 per cent of the vote. The two parties secured enough seats to obtain an absolute majority in the state parliament.

U.S. politicians should be paying attention. Austerity is not a long-term winning policy.

In miscellaneous news, Gizmodo reports that the Kodak company had a nuclear reactor in its basement for many years.

Kodak may be going under, but apparently they could have started their own nuclear war if they wanted, just six years ago. Down in a basement in Rochester, NY, they had a nuclear reactor loaded with 3.5 pounds of enriched uranium—the same kind they use in atomic warheads….

Kodak officials now admit that they never made any public announcement about it. In fact, nobody in the city—officials, police or firemen—or in the state of New York or anywhere else knew about it until it was recently leaked by an ex-employee. Its existence and whereabouts were purposely kept vague and only a few engineers and Federal employees really knew about the project.

The company had a legitimate purpose for having the reactor and radioactive material:

Kodak’s purpose for the reactor wasn’t sinister: they used it to check materials for impurities as well as neutron radiography testing. The reactor, a Californium Neutron Flux multiplier (CFX) was acquired in 1974 and loaded with three and a half pounds of enriched uranium plates placed around a californium-252 core.

But still it’s amazing they were able to get away with the reactor and especially the secrecy. The reactor was dismantled in 2006.

Why would a mafia boss be buried in a Roman basilica? Especially when he was suspected of abducting a 15-year-old girl, the daughter of a Vatican employee.

Forensic teams and marble workers have pried open a mobster’s tomb in the basilica Sant’Apollinare in Rome, searching for clues that might help to solve one of Italy’s greatest mysteries.

Fifteen-year-old Emanuela Orlandi, the daughter of a Vatican bank functionary, disappeared in 1983 on her way to a music lesson. Her body has never been found, and the truth about what happened to her has puzzled investigators for nearly 30 years. One of the most prominent conspiracy theories was that Orlandi’s remains would be found in the crypt where the notorious Roman mafioso Enrico “Renatino” De Pedis was eventually laid to rest after he was shot dead in a Rome square in 1990.

On Monday, his tomb was finally opened. His body was there, inside a three-layer sarcophagus, well preserved and wearing a dark blue suit and black tie. Police took fingerprints and confirmed his identity. But also, tucked inside a niche of the ancient crypt – a burial place since before Napoleonic times – were dozens of boxes containing unidentified human bones.

Dozens of boxes of bones?! This should be an interesting story to follow.

Finally, I’d like to call your attention to a profile of Mitt Romney’s top adviser Eric Fernstrom, published in GQ Magazine. It’s long, but well worth reading. Here’s a brief preview:

Fehrnstrom calls himself a “utility player,” and in the press he’s typically identified as a “Romney spokesman” or a “Romney strategist.” But that doesn’t begin to do justice to his place in the high command. Fehrnstrom has been with Romney for a decade, longer than any other political adviser on his 2012 campaign. “Anytime I’ve got questions or I’ve got a doubt, I know I can go to Eric and I’m getting feedback from someone who’s inside Mitt’s brain,” Romney’s senior adviser Kevin Madden told me. Or as Peter Flaherty, another senior Romney adviser, puts it: “Eric has a deeper shelf of institutional knowledge of Mitt Romney than anyone I know whose last name is not Romney.”

Fehrnstrom’s first job for Romney was running the press shop during his successful 2002 run for Massachusetts governor. But his role quickly expanded, and as Romney’s national profile grew, so did his trusted aide’s. (So much so that when Scott Brown was looking for someone to help him win Ted Kennedy’s old Massachusetts Senate seat in 2010, he hired Fehrnstrom, who remains Brown’s top strategist.) Over the course of his decade with Romney, Madden says, Fehrnstrom has become “a Tom Hagen figure. He’s consigliere to the governor.”

But with two slight differences. Whereas Hagen was always trying to cool off the hotheaded Sonny Corleone and keep the peace, Fehrnstrom, 50, is both the wise man and the hothead. He wears the uniform of the modern political consultant—iPad tucked in the crook of his arm, open-collared shirt, rectangular-framed glasses—but his fleshy face and thick New England accent betray a rougher core. And far from reining in Romney, he performs the opposite service for his client: Fehrnstrom toughens him up. “Eric gives Mitt a capability that Mitt doesn’t have,” says Ben Coes, Romney’s campaign manager in 2002. “It’s a streetwise savvy; it’s an on-the-ground Boston-smarts mentality; it’s a back-alley-politics, survival-of-the-fittest point of view. Mitt is not a knife fighter. Eric is a knife fighter.” The best political operatives are the ones who provide their clients with a tangible quality the candidate himself lacks. If Karl Rove was Bush’s brain, then Fehrnstrom is Romney’s balls.

That’s all I’ve got for today. What are you reading and blogging about?

Thursday Reads

Posted: May 10, 2012 | Author: | Filed under: 2012 presidential campaign, Barack Obama, Civil Rights, Democratic Politics, GLBT Rights, legislation, Mitt Romney, morning reads, Republican politics, Team Obama, torture, U.S. Politics, War on Women | Tags: , , , , , , , , , , , | 43 Comments

Good Morning!!

Yesterday was a great day. President Obama took a clear stance on a very important issue, saying that same sex couples should have the same marriage rights and privileges as every other American. But this really is not about marriage or about LGBT rights. It’s about equal rights for every citizen of this country. The President’s action is a big step in the right direction.

The New York Times has the behind the scenes skinny on how Obama decided to take his stand yesterday.

Before President Obama left the White House on Tuesday morning to fly to an event in Albany, several aides intercepted him in the Oval Office. Within minutes it was decided: the president would endorse same-sex marriage on Wednesday, completing a wrenching personal transformation on the issue.

As described by several aides, that quick decision and his subsequent announcement in a hastily scheduled network television interview were thrust on the White House by 48 hours of frenzied will-he-or-won’t-he speculation after Vice President Joseph R. Biden Jr. all but forced the president’s hand by embracing the idea of same-sex unions in a Sunday talk show interview.

Obama had intended to state his position on the issue before this summer’s Democratic Convention, but Joe Biden’s statement of his support for same-sex marriage last weekend accelerated the decision-making process.

Initially Mr. Obama and his aides expected that the moment would be Monday, when the president was scheduled to be on “The View,” the ABC daytime talk show, which is popular with women….

Yet the pressure had become too great to wait until then, his aides told him; on Monday, the White House press secretary, Jay Carney, was pummeled with questions from skeptical reporters about Mr. Obama’s stance. After the Tuesday morning meeting, Dan Pfeiffer, the president’s communications director, contacted ABC and offered a wide-ranging interview with the president for the following day.

Meanwhile, Mitt Romney announced that he continues to oppose same-sex marriage and he also opposes civil unions that resemble marriage. Appearing on a local Fox station in Colorado, Romney

“Well, when these issues were raised in my state of Massachusetts, I indicated my view, which is I do not favor marriage between people of the same gender, and I do not favor civil unions if they are identical to marriage other than by name,” Romney told KDVR. “My view is the domestic partnership benefits, hospital visitation rights, and the like are appropriate but that the others are not.”

RNC Chairman Reince Priebus responded to Obama’s announcement by suggesting that same-sex marriage would be an issue in the presidential race.

“While President Obama has played politics on this issue, the Republican Party and our presumptive nominee Mitt Romney have been clear,” Priebus said. “We support maintaining marriage between one man and one woman and would oppose any attempts to change that.”

IMO, it would be huge mistake for Romney to focus on social issues in the campaign, his campaign knows it. Just look what happened when Rick Santorum did it. But Romney should be forced to clarify his stance on this issue. Buzzfeed offered five questions to help him do so. Check it out.

Oddly, Log Cabin Republicans were enraged by President Obama’s announcement. Here is the press release the group released yesterday:

“That the president has chosen today, when LGBT Americans are mourning the passage of Amendment One, to finally speak up for marriage equality is offensive and callous,” said R. Clarke Cooper, Log Cabin Republicans Executive Director. “Log Cabin Republicans appreciate that President Obama has finally come in line with leaders like Vice President Dick Cheney on this issue, but LGBT Americans are right to be angry that this calculated announcement comes too late to be of any use to the people of North Carolina, or any of the other states that have addressed this issue on his watch. This administration has manipulated LGBT families for political gain as much as anybody, and after his campaign’s ridiculous contortions to deny support for marriage equality this week he does not deserve praise for an announcement that comes a day late and a dollar short.”

Addicting Info responded to the Log Cabin Republican release:

Here’s the official White House list of stuff the Obama administration has done for the LGBT community. It is not remotely comprehensive. Obama has done more for the LGBT community in three years than every single previous president combined. If that’s “manipulating” the LGBT community, what do the Log Cabin Dummies consider “full-throated support?” Should he divorce Michelle and marry Joe Biden?

As for the claim of “political gain;” what gain would that be? Will moderates suddenly sit up and say, “YES! The hell with the economy! I was only interested in gay rights!”? Will conservatives suddenly feel that their institutional bigotry is misplaced and they should embrace the LGBT community as fellow humans instead of condemning them to burn for eternity as “unnatural?” Will the GOP decide that perhaps gay-baiting is not the way to go and focus on the issues? Hell, gay Republicans can’t even muster any support for Obama. They’re outraged! They’re offended! Not at their own party whose official platform is virulently anti-gay but at that goddamned Obama for not supporting them sooner! Obama gets nothing from supporting gay marriage and only hands the right another cudgel to attack him with.

{{Loud, extended applause}}

Can you stand some more good news? Think Progress reports that on Tuesday,

Congress took up legislation that could significantly impact women’s health — and no, it doesn’t limit contraception or force anything into their vaginas.

The Pregnant Workers Fairness Act aims to protect pregnant women in the workplace from common discrimination — not being allowed to carry a water bottle, for example — that threatens their health and stops them from being productive employees, or from working altogether.

Introduced by Reps. Jerrold Nadler (D-NY), Carolyn Maloney (D-NY), Jackie Speier (D-CA), Susan Davis (D-CA) and George Miller (D-CA), the bill would “ensure that pregnant women are not forced out of jobs unnecessarily or denied reasonable job modifications that would allow them to continue working,”

The Republicans will fight it, and let’s hope lots of pregnant women hear about a new front in the War on Women and punish them in the voting booth.

And here’s just a little more good news from Reuters: U.S. drops plan to close rural post offices.

The U.S. Postal Service said on Wednesday that it is abandoning for now its plan to close thousands of post offices in rural locations and instead will shorten their hours of operation.

The change represents a victory for U.S. lawmakers and rural communities who created a backlash against the cash-strapped agency last summer when it began considering more than 3,600 post offices for closure this year.

Rather than shuttering offices starting next week, when a self-imposed moratorium on closings was set to end, the plan is to cut the operating hours of 13,000 locations with little traffic to between two and six hours a day.

It’s good news/bad news situation, with hours being cut at rural post offices; but it’s a step in the right direction.

And even more good news–can you believe it? The Justice Department announced yesterday that it plans to sue Sheriff Joe Arpaio of Arizona for civil rights violations.

The U.S. Justice Department has been seeking an agreement requiring Arpaio’s office to train officers in how to make constitutional traffic stops, collect data on people arrested in traffic stops and reach out to Latinos to assure them that the department is there to also protect them.

Arpaio has denied the racial profiling allegations and has claimed that allowing a court monitor would mean that every policy decision would have to be cleared through an observer and would nullify his authority.

Justice Department officials told a lawyer for Arpaio on April 3 that the lawman’s refusal of a court-appointed monitor was a deal-breaker that would end settlement negotiations and result in a federal lawsuit.

I hate to ruin the upbeat mood, but I felt I had to include this article from the BBC: ‘Vomiting and screaming’ in destroyed waterboarding tapes. It’s an interview with Jose Rodriguez, head of the CIA Counterterrorism Ceneter, and the man who destroyed the torture tapes. Read it if you can stand it. I think every American needs to know what was done in our name.

What are you reading and blogging about today?

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