Friday Reads
Posted: March 9, 2012 Filed under: Economy, Global Financial Crisis, House of Representatives, investment banking, Mitt Romney, morning reads, Regulation, religious extremists, Rush Limbaugh | Tags: Dennis Kucinich, Dump Rush, FED, SEC 36 Comments
Good Morning!
Well, we’ve always known Pat Robertson was a little off. Reconcile all his throw back ideas about women and the GLBT community with his views on decriminalizing marijuana, I dare you!!
“I really believe we should treat marijuana the way we treat beverage alcohol,” Mr. Robertson said in an interview on Wednesday. “I’ve never used marijuana and I don’t intend to, but it’s just one of those things that I think: this war on drugs just hasn’t succeeded.”
Mr. Robertson’s remarks echoed statements he made last week on “The 700 Club,” the signature program of his Christian Broadcasting Network, and other comments he made in 2010. While those earlier remarks were largely dismissed by his followers, Mr. Robertson has now apparently fully embraced the idea of legalizing marijuana, arguing that it is a way to bring down soaring rates of incarceration and reduce the social and financial costs.
“I believe in working with the hearts of people, and not locking them up,” he said.
Rush has lost at least 50 advertisers after his horrendous, personal attacks on a university student exercising her first amendment rights. Just what kind of advertisers does the big blowhard have left? Well, he’s picked up an online dating service for married people interested in extramarital relations. There’s your family values for you!!!
Advertisers learned something about Rush Limbaugh’s demographic this week.
“Here we thought lots of pleasant, upstanding people were listening to and enjoying the rational things Rush had to say,” dozens of companies said. “Apparently not.”
It turns out that people who really, truly still enjoy Rush Limbaugh’s show are — how do I put this? — jerks.
At least that’s what the new advertisements moving into the vast empty lot of Rush Limbaugh, Inc., implies. “Ah,” you say, as a rat runs over your foot and several people offer payday loans and try to sell you watches from their trench coats. “This place seems to have gone downhill somewhat.”
So far, he’s picked up AshleyMadison.com, the site where you go to cheat on your wife, and another Web site that is explicitly for sugar-daddy matchmaking.
Republicans in the House have basically gone after finance regulators in a way that would basically change one of the major mandates of the Fed’s economic stabilization mandate and the SEC’s ability to police the markets for fraud. The FED suggestions are outrageous. They would completely stop the FED’s ability to stimulate the economy and would change the composition of the FED board from economists to the Bank’s District Presidents who are answerable to their member banks.
The bill, which will be formally introduced later this week by Congressman Brady, would eliminate the employment leg of the dual mandate, requiring the Federal Reserve to focus only on price stability.
The legislation would also restructure the Federal Open Market Committee (FOMC). The bill would give permanent seats on the committee to the twelve regional Federal Reserve bank presidents, who are chosen by regional Federal Reserve Bank directors. Those boards are composed of private citizens.
Yesterday, SEC chairman Mary Schapiro begged Congress to increase the agency’s funding, arguing that “the rapidly expanding size and complexity of the markets presents enormous oversight challenges.” Representative Barney Frank, ranking member of the House Financial Services Committee, offered a bill to provide that funding—and Republicans voted lockstep to trash it.
Republicans on the committee offered the perverse argument that since the SEC has repeatedly suffered oversight breakdowns in the past, it’s not entitled to additional funding. Representative Jo Ann Emerson, a Missouri Republican and member of the House Appropriations Committee, echoed this argument in the hearing with Schapiro yesterday:
“I think this body is reticent to throw more money at the SEC until ya’ll have proven that you have addressed the structural problems from within…in a comprehensive way,” [Emerson said]. “Since 2001, SEC’s budget has increased over 200 percent. Despite this tremendous growth in resources over the past decade, the SEC failed to detect Ponzi schemes such as Madoff and Stanford, the U.S. financial system nearly collapsed, and judges continue to question SEC settlements and regulations.”
Further starving a regulatory agency that’s already clearly unable to handle its massive mission is not a terribly convincing argument—one would have to truly believe the SEC is completely capable of policing Wall Street but simply suffering from “structural problems,” as Emerson asserts. (To give a sense of the very real funding problems, JPMorgan Chase—only one of the 35,000 entities the SEC is tasked with regulating—spends four times the entire SEC budget on information technology alone). But it’s the only argument Republicans have—the SEC is funded entirely by fees from the financial industry, so Republicans can’t carp about the deficit.
None of these folks seem to have any idea about what caused the financial crisis nor how much the underfunding and disabling of regulators and regulators have played into all these problems It’s really disheartening.
Meanwhile, Romney has told a university student that students going to cheap schools they could afford would be better than government student loans. BTW, where are there cheap schools now?
Mr. Romney was perfectly polite to the student. He didn’t talk about the dangers of liberal indoctrination on college campuses, as Rick Santorum might have. But his warning was clear: shop around and get a good price, because you’re on your own.
“It would be popular for me to stand up and say I’m going to give you government money to pay for your college, but I’m not going to promise that,” he said, to sustained applause from the crowd at a high-tech metals assembly factory here. “Don’t just go to one that has the highest price. Go to one that has a little lower price where you can get a good education. And hopefully you’ll find that. And don’t expect the government to forgive the debt that you take on.”
There wasn’t a word about the variety of government loan programs, which have made it possible for millions of students to get college degrees. There wasn’t a word urging colleges to hold down tuition increases, as President Obama has been doing, or a suggestion that the student consider a work-study program.
And there wasn’t a word about Pell Grants, in case the student’s family had a low enough income to qualify. That may be because Mr. Romney supports the House Republican budget, which would cut Pell Grants by 25 percent or more at a time when they are needed more than ever.
Instead, the advice was pretty brutal: if you can’t afford college, look around for a scholarship (good luck with that), try to graduate in less than four years, or join the military if you want a free education.
Robert Scheer writes about Dennis Kucinich who will leave Congress after his term finishes. His district was merged with Marcy Kaptur’s and she won on Tuesday. It’s an interest profile for a quirky politician.
Kucinich never competed in that way. He has been a national symbol of resistance to excessive government power and waste. He also has been a champion of social justice. His has been a rare voice, and one way or another it must continue to be heard. Simply put, when it came to the struggle for peace over war, Dennis was the conscience of the Congress. And he was always at the forefront in defending the rights of unionized workers who once formed the backbone of a solid middle class and who are now threatened with extinction.
Kucinich will surely be back for another turn in public life. As he put it in our Playboy interview:
“I appreciate Woody Allen’s humor because one of my safety valves is an appreciation for life’s absurdities. His message is that life isn’t a funeral march to the grave. It’s a polka.”
What’s on your reading and blogging list today?
In The Land Of The Delusional
Posted: March 2, 2012 Filed under: 2012 presidential campaign, Austerity, double-speak, Economy, income inequality, Mitt Romney, religious extremists, Republican presidential politics, the GOP, U.S. Economy, War on Women, Women's Healthcare 16 CommentsIn the Land of the Delusional the Koch brothers are principled citizens who merely disagree with Democratic policy stands and are aghast at the
vindictive slurs leveled against them and all other sincere, freedom-loving Republicans. In the Land of the Delusional, the hate and rage on review is a product of pink-bellied Lefties, Alinski acolytes, looking to take down American virtue and reduce the country’s might and glory. In the Land of the Delusional bankrupt ideas, economic mayhem and privateering can be obscured by attacks on woman, gays and the down and outers.
March is living up to its reputation—coming in like snarling Lion. Rush Limbaugh exposed a full Monty of misogyny, his comments on Sandra Fluke provoking even House Speaker Boehner to suggest the diatribe was ‘inappropriate.’ What inspired the outburst? Several weeks of desperate frontal attacks on women’s healthcare issues, thinly veiled and wrapped beneath ‘religious liberty’ arguments.
Let’s not kid ourselves! This is little more than shifting the conversation from discussion over economic issues, for which the Republican party has no credible position. The US Budget Watch has reported that Republican plans to slash taxes on corporations and high-income earners would explode the national debt up to $3 trillion. And for all the ballyhoo by the Norquist group the Washington Post reported [as well as many other sources] that the country’s revenue-collection has eroded to a 60-year low.
From the WP report:
Polls show that a large majority of Americans blame wasteful or unnecessary federal programs for the nation’s budget problems. But routine increases in defense and domestic spending account for only about 15 percent of the financial deterioration, according to a new analysis of CBO data.
The biggest culprit, by far, has been an erosion of tax revenue triggered largely by two recessions and multiple rounds of tax cuts. Together, the economy and the tax bills enacted under former president George W. Bush, and to a lesser extent by President Obama, wiped out $6.3 trillion in anticipated revenue. That’s nearly half of the $12.7 trillion swing from projected surpluses to real debt. Federal tax collections now stand at their lowest level as a percentage of the economy in 60 years.
But why let facts stand in the way. Paul Ryan, the Republican’s designated ‘serious thinker’ certainly doesn’t.
Ryan also complimented Romney’s economic plan. The congressman’s stamp of approval has been important for Republicans since he earned praise last year for his ambitious budget — which would dramatically change Medicare— from strong conservatives.
“Very credible. They are talking about entitlement reform. They are putting specifics on the table on Medicare and Social Security reform. The president, knowing that these are the big drivers of our debt, is ducking it,” Ryan said of Romney’s proposals.
Ah, yes. The ideologically blind leading those blinded by ambition. That certainly gives me confidence.
But as Paul Krugman suggested a mere 10 ten days ago, Mitt Romney let slip a truism in the swirl of Michigan campaigning when he said:
“If you just cut, if all you’re thinking about doing is cutting spending, as you cut spending you’ll slow down the economy.”
Over which the ideological purists set the dogs loose. The Club for Growth immediately denounced the Romney slip, insisting that it was a clear indication that Mitt was an imposter, not a ‘true’ limited government conservative [translation: not willing to drown all government in that Norquist bathtub].
What’s a candidate to do? Retreat, of course, in the same way Romney flipped on the Blunt Amendment, breaking all records, I would guess. In less than an hour, Candidate Romney twisted from ‘not going to go there’ to ‘of course, I support it.’ Enough to make your head spin. This is a political party in the death throes.
So, what’s the best way to distract?
Let’s pillory the women, start calling them sluts or suggest they film sexual exploits for the sake of some overweight, mean-spirited shock jock. Or let’s pretend that the perceived decline of the Nation rests squarely on the shoulders of the Gay Community and their screechy insistence that they too expect and deserve [can you believe the gall of these people] basic civil rights. And don’t forget the statistics on the ever-expanding numbers of Americans slipping into poverty. We tried calling them losers and moochers. How about we deny they exist, the way a North Carolina legislator recently announced. Yes sir, that’s the ticket!
In the Land of the Delusional schizophrenics rule the day, magical thinking replaces reason and bare-foot and pregnant is a very good thing. In the Land of the Delusional all things are possible.
Except the truth.
Eeps! They’re doing it Again! Live Blog for Republican Debate
Posted: February 22, 2012 Filed under: 2012 elections, 2012 presidential campaign, 2012 primaries, Live Blog, Mitt Romney, Rick Santorum | Tags: Arizona debate 134 Comments
Newt’s been oddly quiet. Romney is scrambling for funds and any sign of enthusiastic support from outside of the Republican Money Class. Paul picked up a big super pac donation from a really odd Louisianian. Then there’s Saint Rick of the Sexually Obsessed. He’s undoubtedly going to get the spotlight tonight as his completely crazy religious views have taken him to places that I doubt any one has one before. The establishment hates him but the crazy base thinks he’s just right. Afterall, his culture jihad got him thrown out of his senate position.
“Santorum’s job tonight is to quell fears about his general-election electability,” says Republican strategist Ford O’Connell. “Taking on social issues to differentiate himself from [Newt] Gingrich and Romney is a good strategy, but it’s high risk. He’s been over-talking.”
Santorum’s first task, Mr. O’Connell says, is to take his strong views on social issues – a plus with the so-called “values voters” in the Republican base – and turn them into a discussion on limited government and strong families, not about telling individuals what to do. In recent days Santorum has been all over birth control, women’s role in society, and same-sex marriage.
Then there’s the story about his 2008 speech on how Satan was “attacking the great institutions of America,” now in its second day on the highly read Drudge Report. When asked about it Tuesday, Santorum didn’t disavow the remarks.
“I’m a person of faith. I believe in good and evil,” Santorum said in response to questions from CNN, host of the Wednesday night debate, which begins at 8 p.m. Eastern time.
Then he added that he didn’t think the topic was relevant to today.
“What we’re talking about in America today is trying to get America growing. That’s what my speeches are about. That’s we’re going to talk about in this campaign,” said Santorum.
Meanwhile, Romney’s hoping his newly released tax plan will get some votes. I’m sure it won’t be from economists or people that like strong economies. Look for him to try to fit this in where he can. Well, that an some pointed jabs at Santorum.
Reducing the top corporate tax rate to 25 percent was a central point of an economic proposal Romney offered in September. The former Massachusetts governor’s plan, which would eliminate taxes on interest, dividends and capital gains for individuals making $200,000 or less per year, came under criticism over a lack of details.
Romney suggested during a town-hall meeting in Shelby Township, Michigan, yesterday that he’d offer details.
“I’ll be coming out with some proposals of my own this week that describe how I cut, create more pro-growth tax policies,” Romney said. “I want to see a flatter, fairer, broader-based tax system.”
The Debate will be on CNN tonight at 8 pm EST. It’s being held not too far where my parents lived for awhile in Mesa Arizona.
Washington bureau chief Sam Feist, who’s producing CNN’s seventh debate this cycle, said the 8 p.m. face-off “comes at an important moment in the campaign” as tight races develop in Arizona and Michigan. And given the lack of debates since January, Feist said “there are a lot of topics that are likely to come up in this debate that, frankly, haven’t come up in the other debates.”
Feist wasn’t about to tip off the candidates about what moderator John King might throw their way, but social issues, which received increased media attention since the Florida debates, are expected to get some play.
It’s also possible that former senator Rick Santorum could be asked about his 2008 comments about Satan “attacking the great institutions of America,” which had a second life Tuesday thanks to The Drudge Report. When asked if the Satan comments could come up, Feist simply said that “nothing is off the table.”
The questions asked during the previous 20 debates this week came under scrutiny from New York University professor Jay Rosen and his students in the Studio 20 program, who studied all 839 of them. The students, working with The Guardian, found that 13 percent of the questions asked involved “campaign strategy and the way the candidates responded to each other’s negative ads.”
However, they noted that members of debate or online audiences asked zero questions about polls, flip-flops or negative ads, suggesting that journalists may be preoccupied by process-oriented questions that are of less interest to the public.
Feist said he found the study “interesting and valuable,” but quibbled with how the questions were categorized. “If you ask a candidate about a comment made in a negative ad, I don’t see that as campaign strategy,” Feist said. “I see that as a rare opportunity to have the candidate respond to the negative ads that the public has been inundated with.”
This will be last debate before Super Tuesday so look for every candidate to try to make high impact statements. Will they all play nice?
Tuesday Reads: More Caucuses and a Beauty Contest; Dems Support Anti-Union Bill; and Protecting Children vs. Parents’ Rights
Posted: February 7, 2012 Filed under: 2012 presidential campaign, 2012 primaries, Mitt Romney, morning reads, Newt Gingrich, Reproductive Rights, Republican presidential politics, U.S. Politics, Women's Rights | Tags: Braden and Charlie Powell, breast cancer, Colorado caucuses, Josh Powell, Komen Foundation, Maine caucuses, Minnesota caucuses, Missouri primary, Nancy Brinker, NEGATIVE campaigning, Rick Santorum, Susan Powell 51 CommentsGood Morning!!
There are four more Republican caucuses and one “primary” coming up this week. Tomorrow, Minnesota and Colorado will hold caucuses and Missouri has a beauty contest, a non-binding primary (actual delegates will be apportioned by the Missouri Republican party on March 17). Maine holds it’s caucuses on Saturday. After that, we get a two-week respite with no primaries. Won’t that be great?
Right now, Rick Santorum is leading in the polls in Minnesota, and Mitt Romney has wasted no time in turning his mean-spirited attacks on the new upstart. Wall Street Journal:
In a radio interview in Minnesota on Monday, Mr. Romney criticized Mr. Santorum for voting to raise the country’s borrowing limit, allowing earmark spending to proliferate and letting government spending explode.
“His approach was not effective and, frankly, I happen to believe if we’re going to change Washington we can’t just keep on sending the same people there in different chairs,” he said in an interview on WCCO.
The Romney camp also circulated a research memo to challenge Mr. Santorum’s contention that Mr. Romney imposed a “top-down, government-run” health-care system in Massachusetts that led to higher costs and longer wait times. For good measure, the Romney team rereleased Mr. Santorum’s endorsement of Mr. Romney in the 2008 race.
Romney is currently leading in Colorado, but there are suggestions that Santorum could do well there too–maybe even take first place. From CNN:
Could Rick Santorum pull off a surprise victory in this week’s caucuses? Newt Gingrich thinks so.
“I think that Santorum’s going to have a pretty good day tomorrow and he will have earned it. He targeted differently than I did,” Gingrich told reporters gathered outside an energy forum in Golden, Colorado….
Speaking to reporters after the same forum, Santorum opted against setting any expectations for the caucuses. But he questioned Mitt Romney’s ability to close the deal with Republican voters, noting the former Massachusetts governor has failed to attract as many voters as he did in 2008 in some previous contests.
“He’s underperformed from four years ago. And I suspect he will again,” Santorum said about Tuesday’s caucuses.
Former Pennsylvania senator Rick Santorum has spent the past few days shuttling among Minnesota, Missouri and Colorado hoping that a good showing in one or all Tuesday would show the conservative electorate was not solidly behind former Massachusetts governor Mitt Romney.
“Our hope is conservatives are stepping back and looking at the race and making the same calculations that I’ve just made that a Romney nomination will not be in the best interest of us winning the general election,” Santorum told reporters here Monday. “We need to have a conservative alternative and my feeling is that Speaker Gingrich has sort of had his chance in the arena and came up short in Florida and Nevada, and now it’s our turn.”
Santorum has spent a great deal of time in Missouri while the other candidates were competing in Nevada. He apparently thinks the “show me” state will help him launch a comeback in the race.
Tomorrow’s primary in Missouri is the staging ground for Rick Santorum’s latest campaign message—that he is the real conservative alternative to Mitt Romney and that he is the person who can best compete with Barack Obama.
A win in Missouri would be absolutely crucial in keeping Santorum’s campaign afloat. His chances look good there because Newt Gingrich—whose campaign has been plagued by logistical missteps such as failing to get on the ballot in Virginia—decided not to sign up for tomorrow’s primary.
Unfortunately for Santorum, a win won’t get him any delegates.
Yesterday, Democrats in the Senate joined their right-wing colleagues in passing an anti-union FAA bill.
The Senate passed a Federal Aviation Administration bill on Monday that includes an anti-union measure bitterly opposed by labor groups.
The bill, which modernizes America’s air traffic control system and funds the FAA through 2014, was fought over for four years, leading to a partial shutdown of the FAA last summer because of anti-union measures added by the Republican-controlled House.
It passed 75 to 20, with a majority of Democrats backing it.
Among the controversial provisions were changes to labor law for rail and airline workers — backed by the airline industry — that would count anyone who did not vote in an election for a union as voting against it, making it much more difficult to certify attempts to organize new unions.
What’s the point of voting for Democrats if they’re no different from Republicans?
This story makes me so sad that I had to share it with you. It demonstrates one of the worst thing about U.S. family courts–they care more about parents rights than they do children’s safety and well-being. Yesterday, the husband of a missing Utah woman, Susan Powell, committed suicide and chose to take his two sons along with him.
The deaths of a Washington man and his two sons in what authorities believe was a murder-suicide may mean the 2009 disappearance of the children’s mother may never be solved.
Josh Powell, a suspect in the disappearance of Susan Cox-Powell, died Sunday along with his two sons, 5-year-old Braden and 7-year-old Charlie, in what police believe was an intentionally set fire in Powell’s Puyallup, Washington, home.
It was a tragic development in a puzzling case that began two years ago in the Salt Lake City suburb of West Valley City, Utah, when Susan Cox-Powell, 28, went missing.
Josh Powell was never charged in her disappearance, and was embroiled in a bitter custody dispute with his wife’s parents.
Why was this man allowed access to his children? If the court believed he had the right to see them, why not arrange for the meeting to take place in a neutral location? Not only was this man a strong suspect in the murder of the children’s mother, but also he had allowed the boys to live with his father who was arrested awhile ago for possession of child pornography. The arrest led to Powell’s in-laws getting custody of the two boys. Powell apparently had been planning the murder suicide for some time.
Authorities say Josh Powell planned the deadly house fire that killed him and his young sons for some time, dropping toys at charities and sending final emails to multiple acquaintances.
Powell, the husband of missing Utah woman Susan Powell, died along with his children Sunday.
Authorities say they found 10 gallons of gasoline inside the home. A five-gallon can was spread throughout the house and used as an accelerant in the huge blaze. Another can was found by the bodies.
They say Josh Powell did send longer emails to some people, including his cousin and pastor, with instructions such as where to find his money and how to shut off his utilities
The motive for killing the boys might have been the fact that once they were away from their father, they began talking about the night their mom disappeared.
The children of missing woman Susan Cox Powell have said for years that “Mommy’s in the mine,” an attorney representing the Cox family said on Monday….adding the boys mentioned their mother may have been looking for crystals in the mine.
Another lawyer representing the Cox family said the children had started talking to their grandparents about things they remembered from the night their mother vanished.
“They were beginning to verbalize more,” said attorney Steve Downing. “The oldest boy talked about that they went camping and that Mommy was in the trunk. Mom and Dad got out of the car and Mom disappeared.”
The attorney said Charlie Powell drew a disturbing picture as a part of a school assignment several months ago. The drawing depicted the boy’s father driving the van with Charlie and Braden sitting in the backseat, and their mother in the trunk.
“There was a subsequent question with regard to, ‘Why is your mother in the trunk?’ And his response was simply that he didn’t know, but his mother and father had gotten out of the van, and his mother then got lost,” said Downing.
So why was the man allowed access to his children? A psychologist quoted in an article in the Christian Science Monitor seems troubled by the decision.
Joy Silberg, a psychologist who specializes in child protection and abuse cases, says courts often place more value on parental rights than a child’s safety – or see them as equal concerns, when in her view, the parental rights should be secondary.
“I have situations where the child has disclosed very clear disclosures about a parent, or terror at being near a parent … and the judge still orders a child to go [to visitation] because the parental right is seen as having so much more power,” says Dr. Silberg.
While she doesn’t know all the facts of the Powell case, she adds, “it’s hard for me to believe that this was completely out of the blue and that no one knew he was this destructive. People usually leave clues.”
In fact, Powell was named a “person of interest” by the authorities when his wife, Susan Cox-Powell, disappeared two years ago. But he was never officially charged with any crime, and no details have ever been made public linking him with the case.
I don’t like to end with an utterly heartbreaking story like that, so I’ll add this one from The Daily Beast on Nancy Brinker and her really really bad decision to defund Planned Parenthood. Apparently Brinker is real meanie when it comes to competition with other groups raising funds for breast cancer.
“Komen plays hardball and is determined to stay on top,” says a member of another cancer organization, who declined to be identified. “Let’s be honest about all this: people think of breast cancer as a charity, but it’s really a major business.”
I’m going to keep that in mind the next time I get a request for funds for breast cancer. I’ll especially want to find out what each group’s attitude is toward women’s autonomy. More from the article:
…in the early ’80s, she [Nancy] met and married multimillionaire restaurateur Norman Brinker, a major Republican donor. He had previously been married to Grand Slam tennis star Maureen “Little Mo” Connnelly, who had died from ovarian cancer.
When they tied the knot, the union provided Nancy with a network of A-list political connections and friends, plus the funds to lead a luxurious lifestyle and create the Komen Foundation, now the Susan G. Komen for the Cure with affiliates in 170 communities in 50 nations. (Interesting note: the largest Race for the Cure, a three-day run, is held in Rome, Italy.)In 1993 Norman Brinker suffered severe head injuries during a polo match and remained on crutches for the rest of his life. Several years later the couple divorced and with a hefty settlement, formidable drive, and her chum George W. Bush in the White House, Nancy was ready to step onto the world stage. First the [resident appointed her ambassador to Hungary and then U.S. chief of protocol.
Did Nancy dump her rich hubby because his health problems were a pain in the a$$. Inquiring minds want to know. There’s more gossipy stuff in the article if you’re interested.
Now what are you reading and blogging about today?











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