I have a mix of news links for you this morning, but nothing too terribly depressing. As I told you Tuesday, I’ve got a bit of Christmas overload, plus I’ve had a flu bug for a few days. So lets’ start out on a positive note.
Today at 12:30AM ET was the Winter Solstice, and therefore today is the shortest day of the year. That means in a few weeks, it will get dark in the Boston area around 4:30PM instead of 4:00. Right now, twilight begins about 3:30PM. I am so looking forward to longer days. From the WaPo:
If you pay attention to these things, you’ll notice a lag of a few weeks between the time the sun begins to set later in the day and the time it rises earlier. But the 22nd is, nonetheless, in the northern hemisphere, our shortest day, and the one in which the sun hoists itself the most miserly distance above the horizon. To top it off, the daily rate at which the sun sinks lower in the sky has been slowing, until it stops. Hence the word solstice, which means that the sun “stands still.”
It’s only for a theoretical instant, of course, but it can often seem, during these days of dark and cold, as if life itself has ground to a halt. Gardening can take place in the jewel boxes of our cold frames and greenhouses, but with growth so slow that there is little for you to do. The hibernation practiced by some creatures starts to seem like a great idea, and the southern migration of others a possible plan.
Not surprisingly, the human celebrations held in this season are full of light, whether it’s from Hanukkah candles, bonfires or sparkly tinsel draped over trees. You can almost understand why people light up their lawns with electrified reindeer. The longer the nights and the greater the inactivity they foster, the more we need our spirits lifted.
“People are celebrating the solstice more than ever in recent memory,” said Selena Fox, who isn’t just any Wiccan priestess. She’s a psychotherapist and the founder of Wisconsin’s Circle Sanctuary, a nonprofit Wiccan church and, according to its website, a 200-acre nature preserve….
Solstice is “widely celebrated today by Wiccans, druids, heathens and other pagans; by indigenous peoples practicing traditional ways in Africa, Asia, Polynesia, Australia, Europe and the Americas; by environmentalists and astronomers; by secular humanists and Freethinkers; by eco-Christians and those of other religions and philosophies,” Fox told The Times in an interview Wednesday….
Humankind has been “observing solstices for thousands of years,” Fox said, but the celestial events have become even more of the moment. Why? Because this is an “age of climate change and a need to have sustainability on the planet,” she said, so it makes sense that a holiday that has “connecting with the cycles of nature” at its core would become popular.
And of course that is why the mythic birth of Jesus was set on December 25, to symbolize rebirth and light coming back to the world. In pagan terms, the birth of the new sun. Here’s a video of the Solstice celebration at Stonehenge in 2009.
One year from now, the 2012 Winter Solstice will mark the end of the Mayan calendar, and we’ll probably have to deal with all kinds of apocalyptic prediction about what is going to happen next. NASA has a page debunking the idea that the end of the world is coming on December 22, 2012. Of course the maniacs in Washington DC might do something that would cause the end of the world as we know it. Let’s hope not.
Yesterday, Dakinikat had a post on John Boehner’s payroll tax fiasco. First Boehner said the House would agree to a 2-month extension of the payroll tax holiday and unemployment benefits, as passed by the Senate. Then suddenly Boehner announced that Republicans wouldn’t vote for the compromise bill–now they wanted a year’s extension or nothing. WTF?!
What happened between Boehner’s agreement to follow the Senate’s lead and his tacit admission that his own caucus had overruled him? Aides and House members describe a now-infamous caucus conference call Saturday morning, when rank-and-file members blasted the Boehner-blessed deal, which they felt gave in on too many of their demands and delivered too little in return.
A closed door meeting Monday night revealed more doubts from conservatives over whether Boehner had pushed for the best deal they could have gotten and fueled Democratic frustration that Boehner, who they believe negotiated in good faith, simply cannot speak for his caucus anymore. The debacle capped a tumultuous year for the speaker, reigniting questions about how much longer he can lead the unwieldy GOP coalition, many of whose members clearly have no interest in following him where he wants to go.
Publicly, Boehner and House Republicans presented a united front this week, blaming President Obama for shortening a tax cut they say they have wanted to pass all along. But Democrats blamed a group of Republicans they’ve dubbed “the kamikazes,” the GOP freshmen who arrived in January on a wave of Tea Party anger and have shown time and again that they are willing to blow up their careers and everything around them in service to their cause.
The kamikazes’ casualty list this year is long. They blew up the debt-ceiling vote this summer, sparking a downgrade in the nation’s credit rating. They blew up the appropriations process so thoroughly that routine spending votes morphed into philosophical standoffs that nearly locked down the federal government three times and required seven temporary funding patches just to keep the lights on. And this week, they managed to blow up not just a tax cut that nearly everyone in Washington agrees is a good idea, but also their party’s hard-earned reputation for cutting taxes and, quite possibly, their chances at a long-term majority in the House and future control of the Senate.
Talk about self-immolation! In the meantime, questions are being asked about Boehner’s leadership.
At ABC’s The Note, Jonathan Karl is predicting the Republicans will fold. We’ll see. President Obama is really good at finding ways to give in to the Congressional terrorists. Maybe someone can distract him long enough to let this play out without his intervention.
Nestled amid plains so flat the locals joke you can watch your dog run away for miles, Fargo treasures its placid lifestyle, seldom pierced by the mayhem and violence common in other urban communities. North Dakota’s largest city has averaged fewer than two homicides a year since 2005, and there’s not been a single international terrorism prosecution in the last decade.
But that hasn’t stopped authorities in Fargo and its surrounding county from going on an $8 million buying spree to arm police officers with the sort of gear once reserved only for soldiers fighting foreign wars.
Every city squad car is equipped today with a military-style assault rifle, and officers can don Kevlar helmets able to withstand incoming fire from battlefield-grade ammunition. And for that epic confrontation—if it ever occurs—officers can now summon a new $256,643 armored truck, complete with a rotating turret. For now, though, the menacing truck is used mostly for training and appearances at the annual city picnic, where it’s been parked near the children’s bounce house.
“Most people are so fascinated by it, because nothing happens here,” says Carol Archbold, a Fargo resident and criminal justice professor at North Dakota State University. “There’s no terrorism here.”
Read it and weep. If Fargo has that much military hardware, imagine what they’ve got in NYC, Chicago, and LA! Police State Amerika is here.
The Justice Department on Wednesday announced the largest residential fair-lending settlement in history, saying that Bank of America had agreed to pay $335 million to settle allegations that its Countrywide Financial unit discriminated against black and Hispanic borrowers during the housing boom.
A department investigation concluded that Countrywide loan officers and brokers charged higher fees and rates to more than 200,000 minority borrowers across the country than to white borrowers who posed the same credit risk. Countrywide also steered more than 10,000 minority borrowers into costly subprime mortgages when white borrowers with similar credit profiles received regular loans, it found.
Now how about putting some banksters in jail for bringing down the economy? Not holding my breath, but at least BOA has to cough up some bucks.
Former House Speaker Newt Gingrich became the target on Monday of a Federal Election Commission (FEC) complaint filed by the non-profit watchdog group Citizens for Responsibility and Ethics in Washington (CREW), which accused the Georgia Republican of illegally profiting off his campaign.
The complaint is based on a revelation by The Washington Post‘s Dan Eggen, who discovered that Gingrich had personally sold a mailing list to his campaign and profited to the tune of $47,005, then failed to report the transaction on a key FEC document. That’s count one, according to CREW.
That mailing list did not belong to Gingrich personally, CREW said. It instead belonged to Gingrich Productions, Inc., a private business that sells Gingrich’s books. Since he paid himself instead of Gingrich Productions, CREW alleged that a second count of using campaign money for personal expenses is called for as well. The treasurer who signed off on the deal is also accused of violating campaign finance laws.
CREW explained in their complaint (PDF) that Gingrich Productions often stages events at the same time as Newt 2012, Inc., his non-profit group and principal campaign committee, which could constitute improper corporate contributions to a political campaign in that the campaign directly benefits from Gingrich Productions’ events.
It goes on to note that the mailing list Gingrich moved from his book company to his campaign was actually a list of people who were waiting at Gingrich events to have their books signed, showing even further how Gingrich Productions and Newt 2012 work in tandem to help each other.
Whoopsie! Everybody’s out to get Newt these days. I’d love to see him end up in jail along with some banksters, but again–not holding my breath.
As you’ve all heard, Ron Paul stalked off the set of an interview at CNN yesterday after he was asked about some racist passages in newsletters he published years ago. But USA today has caught Paul in a serious contradiction about those writings.
Rep. Ron Paul has tried since 2001 to disavow racist and incendiary language published in Texas newsletters that bore his name, denying he wrote them and even walking out of an interview on CNN Wednesday. But he vouched for the accuracy of the writings and admitted writing at least some of the passages when first asked about them in an interview in 1996.
Some issues of the newsletters included racist, anti-Israel or anti-gay comments, including a 1992 newsletter in which he said 95% of black men in Washington “are semi-criminal or entirely criminal.”
Paul told TheDallas Morning News in 1996 that the contents of his newsletters were accurate but needed to be taken in context. Wednesday, he told CNN he didn’t write the newsletters and didn’t know what was in them.
Hmmmm…. I guess Mitt Romney isn’t the only flip-flopper in the Republican presidential race.
Mitt Romney unveiled a brand-new stump speech in New Hampshire last night, reading a carefully-crafted, poll-tested text from two teleprompters. Confident that his Republican primarily rivals simply won’t (or can’t) catch him, the former one-term governor ignored the other GOP candidates in his speech, and focused exclusively on attacking President Obama.
Wow! Two telepromters? Now why does that sound familiar? Anyway, the point is that Romney has been reduced to following the Tea Party meme that Obama is a commie socialist. From the speech:
“Just a couple of weeks ago in Kansas, President Obama lectured us about Teddy Roosevelt’s philosophy of government. But he failed to mention the important difference between Teddy Roosevelt and Barack Obama. Roosevelt believed that government should level the playing field to create equal opportunities. President Obama believes that government should create equal outcomes.
“In an entitlement society, everyone receives the same or similar rewards, regardless of education, effort, and willingness to take risk. That which is earned by some is redistributed to the others. And the only people who truly enjoy any real rewards are those who do the redistributing — the government.
“The truth is that everyone may get the same rewards, but virtually everyone will be worse off.”
ROFLOL! Benen writes:
It stands to reason that Romney, who’s completed the transition from “progressive” views to far-right hysterics, would present a worldview different from the center-left president’s. But this speech was written in a twisted fantasy land, and it ascribes views to Obama that are simply made up. It’s just madness.
Presidential candidate Mitt Romney told a Boston talk radio host on Wednesday that he supports the deportation of President Obama’s Kenyan-born uncle who was arrested this fall on drunken driving charges in Massachusetts.
When asked by Boston radio personality Howie Carr whether the president’s relative, Onyango Obama, should be deported, Romney said, “the answer is ‘yes.’”
“Well, if the laws of the United States say he should be deported, and I presume they do, then of course we should follow those laws,” Romney said. “And the answer is ‘yes.’”
Hannity: The president has been using class warfare as we know. He says Republicans want dirty air, dirty water. Says Republicans want old people, kids with autism and Down’s syndrome to fend for themselves. Pretty outrageous charges.
Romney: Shameful. It’s really shameful.
Hannity: Explain, and how do you counter that if you get this nomination?
Romney: You know, I think the president has gone from being a failed presidency, a guy over his head, to someone who is now so desperate to get re-election that he’s doing things that are very much counter to the interest of the country and he knows it. In the past I think he was just misguided. Now I think he really knows that his decision in Afghanistan to pull the troops out a couple of months earlier than commanders suggested. That was not a wise, not a wise thing for the country. The Keystone pipeline, he knows we need that oil, he knows the consequences.
If Romney is this nuts now, imagine what he’ll be like in the thick of the primaries. Folks, Romney is not the “reasonable” candidate. There is no reasonable candidate on the Republican side. It’s going to be a completely insane candidate vs. a fascist pretending to be a Democrat. Followed by the end of the Mayan calendar. If we’re lucky, the world will end before the next president is inaugurated. Just kidding, I think.
Rep. Jim Sensenbrenner (R-Wisc.), known for his cantankerous ways and for not speaking to media unless it’s his idea, was overheard at the Delta Crown lounge at Reagan National Airport today talking on his cellphone about an incident he said occurred three weeks ago while at an Episcopal church auction. Please note, a church auction.
Our source, a Democratic operative who heard the whole thing, said he was “very loud”. Sensenbrenner was overheard saying that after buying all their “crap” (his word) a woman approached him and praised first lady Michelle Obama. He told the woman that Michelle should practice what she preaches — “she lectures us on eating right while she has a large posterior herself.”
The operative said it sounded like he was on the phone with a staffer who was telling him that someone in the media would likely write about his comments (concerning something) to which he said it was heresy and just liberal media bias to print gossip. But “he stands by his remarks.”
Sensenbrenner is on the pudgy side. Someone should tell him that people who live in glass houses shouldn’t throw stones.
That’s all I’ve got for you today. What are you reading and blogging about?
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Bank of America Corp. is dropping its plan to charge customers $5 a month for making purchases with their debit cards, a person familiar with the situation said.
The move is a dramatic retreat following decisions by several rivals in recent days to drop customer tests of the new fees. SunTrust Banks Inc. and Regions Financial Corp. also said Monday that they will stop charging customers for debit-card transactions.
Bank of America decided against the fees due to negative customer feedback on the plan and the moves by rivals, which left the Charlotte, N.C., lender as the only big bank planning to levy the fee on some customers next year.
According to Bloomberg, BofA CEO David Darnell claims the bank just “listened” to customers.
“We have listened to our customers very closely over the last few weeks and recognize their concern with our proposed debit usage fee,” David Darnell, co-chief operating officer, said in a statement from the Charlotte, North Carolina-based lender today. “As a result, we are not currently charging the fee and will not be moving forward with any additional plans to do so.”
Darnell wants us to believe that he had no clue that customers would be angry at being charged for accessing their own money. But actually, he apparently paid more attention to what his competitors were doing.
Bank of America reversed course after competitors including Wells Fargo & Co. (WFC), the No. 2 debit-card issuer, decided not to charge similar fees. Atlanta-based SunTrust Banks Inc. (STI) and Regions Financial Corp., based in Birmingham, Alabama, said yesterday they will eliminate their check-card fees after customers rebelled.
At least it’s a small win for the 99%. And I’m sure the banks were paying close attention to the Occupy Movement too, even if they’ll never admit it.
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Good Morning!! Today is the official Martin Luther King birthday holiday. I hope everyone has the day off. I think I have a few interesting reads for you this morning.
I’ll start with this in depth report by Naomi Klein on scientific studies of the impact of the BP oil gusher on the ecology of the Gulf of Mexico. While the government reassures Americans that everything down in the gulf is safe safe safe, scientists are finding plenty of evidence that that’s not the case. According to
Ian MacDonald, a celebrated oceanographer at Florida State University. “The gulf is not all better now. We don’t know what we’ve done to it.”
MacDonald is arguably the scientist most responsible for pressuring the government to dramatically increase its estimates of how much oil was coming out of BP’s well. He points to the massive quantity of toxins that gushed into these waters in a span of three months (by current estimates, at least 4.1 million barrels of oil and 1.8 million gallons of dispersants). It takes time for the ocean to break down that amount of poison, and before that could happen, those toxins came into direct contact with all kinds of life-forms. Most of the larger animals—adult fish, dolphins, whales—appear to have survived the encounter relatively unharmed. But there is mounting evidence that many smaller creatures—bacteria, phytoplankton, zooplankton, multiple species of larvae, as well as larger bottom dwellers—were not so lucky. These organisms form the base of the ocean’s food chain, providing sustenance for the larger animals, and some grow up to be the commercial fishing stocks of tomorrow. One thing is certain: if there is trouble at the base, it won’t stay there for long.
There is evidence of permanent changes in organisms likely caused by the oil and dispersants, and those changes may be passed on to future generations as mutations. In addition, the damage to creatures at the lower end of the food chain is so extensive that it may lead to collapses and even extinctions in larger species. While it will be difficult to directly pin all the damage on BP, there really isn’t much doubt that the oil and dispersants are at the root of the problems. It’s very bad, folks.
Last week, Anne Hays put her latest copy of the New Yorker back in the mail, with a note explaining that the august publication owed her a refund for putting out the second issue in a row featuring almost no pieces by women. In a December issue of the New Yorker content by women made up only three pages of the magazine’s 150; one January issue contained only two items by women, a poem and a brief “Shouts and Murmers” item.
“I am baffled, outraged, saddened, and a bit depressed that, though some would claim our country’s sexism problem ended in the late ’60s, the most prominent and respected literary magazine in the country can’t find space in its pages for women’s voices in the year 2011,” wrote Hays in the letter, promising to send back every issue containing fewer than five female bylines. “You tend to publish 13 to 15 writers in each issue; five women shouldn’t be that hard,” she concluded.
Her letter, posted to Facebook and widely circulated last week, has prompted Ms. magazine to start an online petition reminding the magazine’s editors that there are in fact lots of women in the world and that many of them write feature articles, reviews and poems, and that the premier literary/current events magazine in the country should reflect that fact.
According to the article, the New Yorker is not alone in ignoring women writers. Read it and weep.
The Senate Banking Committee is looking into allegations today about Bank of America’s Foreclosure process. As you may know, there have been problems with foreclosure documents that have led many to question the legality of many foreclosure actions by banks. At least seven banking officers will appear before the committee to argue the case that robo-notorization and other means of speeding up the process of making people homeless are not illegitimate. Retiring Senator Bank-Lobbyist-in-Training Chris Dodd is in charge of that committee.
Democrats said they are concerned not only about foreclosures, but also about whether mortgage servicers are properly handling mortgage modifications intended to keep some homeowners from losing their properties.
“If many banks and servicers are not handling even basic foreclosure procedures correctly, it is likely that many are also not correctly evaluating homeowners for mortgage modifications,” Senator Robert Menendez, a New Jersey Democrat who is a member of the Banking Committee, said in a letter to Treasury Secretary Timothy F. Geithner that is scheduled to be sent today.
In the House, lawmakers will also call in overseers and regulators from government agencies, including the OCC and the Federal Housing Finance Agency.
The spotlight on the foreclosure process has anxious financial executives mobilizing on Capitol Hill. A financial lobbyist said senior executives have been meeting with lawmakers and their staffers, and industry groups are planning letter campaigns aimed at preventing aggressive new legislation.
“Everyone’s very nervous about what’s going to happen this week,” said another industry official, who spoke on condition of anonymity because his firm has a stake in the outcome. “We have all hands on deck.”
It’s unclear what new measure could pass in a politically divided Congress, but some ideas under consideration could broadly reshape the mortgage industry.
Some lawmakers want to resurrect legislation that would give bankruptcy judges the power to order lenders to reduce the principal that homeowners owe. Others are pushing for some big banks to spin off their mortgage-servicing arms to avoid conflicts of interest. There’s also discussion of replacing the industry’s current system for tracking mortgages with one that would be subject to federal regulation.
“The risk is small that a bill gets through,” the financial lobbyist said, but “we are taking it very seriously.”
Meanwhile, Americans for Financial Reform have requested the FED withdraw a Rescission Rule. In real estate transactions, these rules generally offer up a ‘cooling off period’ that give a buyer a chance to nullify a sales contract within a certain period. Most state rescission rules run from five to 15 days. The FED’s considering tightening the process to favor the lenders. Here’s some information on the request from AFR to the FED.
In the face of an unparalleled foreclosure crisis, now is the time to reinforce the fundamental importance of TILA rescission. Instead, the Board’s proposal would eviscerate the single most effective tool that homeowners have to stop foreclosures and avoid predatory loans: the extended right of rescission. The FRB Docket R-1390 contains a series of proposed changes to the TILA rules governing mortgage lending.
A few of the proposed changes, including new “material A much greater concern is the proposed decimation of TILA’s right of rescission. At the depths of the worst foreclosure crisis since the Great Depression, we are surprised that the Federal Reserve Board has proposed rules that would eviscerate the primary protection homeowners currently have to escape abusive loans and avoid foreclosure: the extended right of rescission in 12 CFR § 226.15 and 226.23. disclosures” for home secured credit, would advance consumer protections.
Some changes are neither particularly damaging nor particularly beneficial to consumers. Other parts of the proposal, however, would seriously undermine the reliability of TILA disclosures on home secured credit. Instead of informing consumers about the terms of their loans as Congress intended, these proposals would allow broad misstatements of loan terms through new tolerances that are without statutory authority.
The Truth in Lending Act passed by Congress specifically provides consumers the right to unwind an illegal loan through “rescission” for up to three years after the loan was consummated. The statute – and current Board regulations –both provide that if the proper disclosures were not provided to the homeowner at the closing, the homeowner can rescind the loan by sending a notice to the creditor. The statute then requires the creditor to cancel the security interest. Only after the creditor has complied with its obligation to cancel the security interest is the homeowner required to pay back the lender the amount still due on the loan. This order of obligations is the essence of the protection provided by TILA’s extended right of rescission. The cancelling of the security interest means that the homeowner has a defense to a foreclosure. It also means that the homeowner has the means to obtain refinancing so as to be able to tender the amount due. The extended right of rescission does not mean that the homeowner does not have to repay the loan. While the amount due is reduced by the finance charges, fees and amounts the homeowner has already paid, the balance is still due the creditor.
Current momentum to push the laws to protect mortgage loan originators and processors appears aimed at protecting them from the consequences of some really shoddy underwriting practices. This seems mostly motivated to save them the billions of dollars of costs they–and in turn the Federal Government–would incur should there be zero tolerance of these egregious practices. Not only are billions of dollars of investors money at risk–including pensions and institutional investment funds–but there’s also that little matter of the bankrupt Fannie and Freddie that sit on tons of the nasty stuff and are currently being propped up by tax payer money.
Oddly enough, there are calls again for the FED or Treasury to do more ‘stress tests’ to see exactly what the potential fall out from this massive stupidity might be. Will we once again have to fork over our Treasury to pay for the greed of the housing and mortage debacle? All of this undoubtedly has the markets shaky, I went in search of why so much Big RED numbers in the major stock indexes today. The uncertainty inherent in this problem is undoubtedly fueling the equities set back. We continue to see fall out from the District’s inability to deal with the current systemic risk in our Financial System due to massive and hasty deregulation. Here’s some more analysis from WAPO.
At the same time, he said, panel members sympathize with the conundrum facing policymakers as they deal with the issue: On one hand, grinding foreclosures to a halt unnecessarily could harm the economy and slow its recovery. On the other, he said, distressed borrowers are entitled to due process, especially when banks are trying to take their homes.
Administration officials say they are keeping a close watch on the issue.
“We strongly believe that the reported behavior within the mortgage servicer industry is simply unacceptable, and servicers who have failed to follow the law must be held accountable,” said Treasury spokesman Mark Paustenbach. He added that the administration has led an interagency effort to “investigate misconduct, protect homeowners and mitigate any long-term effects on the housing market. The independent regulatory agencies, the Justice Department and [the Department of Housing and Urban Development] are examining servicers’ behavior, and we will continue to monitor the situation closely.”
This loosely means they’re probably anticipating the need for more bailouts. Good luck with that given the influx of hostile partisans coming in from the right wing of the Republican Party in January. What’s a bunch of lame ducks to do?
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The Sky Dancing banner headline uses a snippet from a work by artist Tashi Mannox called 'Rainbow Study'. The work is described as a" study of typical Tibetan rainbow clouds, that feature in Thanka painting, temple decoration and silk brocades". dakinikat was immediately drawn to the image when trying to find stylized Tibetan Clouds to represent Sky Dancing. It is probably because Tashi's practice is similar to her own. His updated take on the clouds that fill the collection of traditional thankas is quite special.
You can find his work at his website by clicking on his logo below. He is also a calligraphy artist that uses important vajrayana syllables. We encourage you to visit his on line studio.
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