Mary Landrieu has stood up for Louisiana time and again during her 18 years in the U.S. Senate. She fought for our fair share of oil and gas lease revenues. She made sure our communities received vital disaster aid after Hurricane Katrina and the levee breaches, after Hurricane Rita, after Gustav, after Isaac. She understood the need to keep flood insurance premiums affordable long before others in Congress came to that realization.
Her opponent is trying to distract voters from Sen. Landrieu’s accomplishments in the Senate. He shouldn’t be allowed to get away with that.
The most important question in the Dec. 6 runoff election is who would best represent the interests of Louisiana residents in Washington. The answer is clear: Mary Landrieu.
Her Gulf of Mexico Energy Security Act, which passed in 2006, achieved something Louisiana leaders had tried for decades to do: Require the federal government to give our state and other energy-producing states a significant share of revenues from offshore drilling. By 2017, the act will provide an estimated $500 million each year for restoring Louisiana’s coast.
Those revenues will benefit Louisianians for generations to come and help families hold onto the land they love.
Sen. Landrieu also helped ensure that New Orleans and other communities across South Louisiana got the federal resources essential to rebuilding homes, businesses and levees post-Katrina. That wasn’t an easy task, with influential members of Congress questioning whether we deserved help.
She played a key role in writing and passing the Restore Act, which will ensure that the vast majority of BP’s fines for the 2010 oil spill will go to coastal restoration — with Louisiana in line for the largest share. Her leadership and ability to work with Republican colleagues in other Gulf states was essential to the act’s approval.
She also wrote provisions into law allowing FEMA to forgive community disaster loans, which eliminated $391 million in post-Katrina debt for parish governments. In the past year, $54.8 million in loans for Jefferson Parish, $67.8 million for St. Tammany Parish schools and $24.4 million for the St. Tammany sheriff and parish government were wiped off the books thanks to her efforts.
Sen. Landrieu also successfully fought last year to reverse exorbitant flood insurance rates that would have been devastating for homeowners and businesses. Not only did she help get legislation through the Senate, she brought the stories of distressed homeowners to Congress with a collection of anecdotes and photos called MyHomeMyStory.
These are major achievements that speak to her leadership skills, her effectiveness and her commitment to her state.
Happy Thanksgiving!! Let’s Talk Turkey!!!
Posted: November 27, 2014 Filed under: morning reads | Tags: Bill Cassiday, Louisiana, Mary Landrieu 14 CommentsGood Morning and Happy Thanksgiving!
We’ve gotten passed the Turkey Amnesty Day–an executive action–with President Obama. Mac and Cheese were saved from Thanksgiving Dinner and will live out their lives in the National Zoo. You can see the President talk turkey on that link. It was a cute speech with Sasha and Malia standing by to clap for the rescue.
President Obama poked fun Wednesday at his conservative critics over his executive actions that give legal status to as many as five million undocumented immigrants, saying his Thanksgiving pardon of a turkey would doubtlessly be criticized as “amnesty.”
Obama joked that the pardon of a turkey named Cheese would be the “most talked about executive action this month” and one that’s “fully within my legal authority, the same kind of action taken by Democrats and Republican presidents before.”
“I know some will call this amnesty, but don’t worry, there is plenty of turkey to go around,” he said.
During a speech at a Polish community center in Chicago on Wednesday, Obama used similar language to his turkey pardoning. He called his actions within his “legal authority,” reminded the audience about former President Ronald Reagan’s immigration executive order, and hit back against those who call the executive order “amnesty.”
The turkey pardon’s White House audience chuckled at Obama’s jokes, but last week’s executive action that gave legal status and work permits to illegal immigrants isn’t a laughing matter for many conservatives. Republicans ripped Obama’s decision, accusing him of acting outside his authority, and threatened that they’ll go after him with legislation that seeks to block Obama’s order.
I know most of us aren’t in the mood today for something long and depressing. I thought I’d take this opportunity to lay down a little dirt on the Cassiday-Landrieu Race and a lot of good research done by two fellow Louisiana Bloggers on Triple Dipping “Double Bill” Cassiday. Cassiday has been running on an nti-Obama and anti-government health care program campaign and that’s just about it. Interestingly enough, the millionaire doctor has three sources of income and all are either from State or Federal Government sources. He also appears to be commiting payroll fraud concurrently. I’m glad to see that National media and state Newspapers are now picking up on the story. We vote in a few weeks. I’m not sure this will make any difference but it really should give some of these voters pause. Will they vote this turkey into office?
Rep. Bill Cassidy, R-Baton Rouge is disputing reports on two political blogs about his part-time work at LSU Health Sciences Center (LSUHSC) that suggested he was compensated for hours he didn’t perform, didn’t do the teaching work for which he was given a House ethics waiver to perform, and filed work sheets indicated he did medical work when Congress was conducting votes and holding hearings.
The allegations, based on records obtained by Jason Berry writing on theamericanzombie.com, were posted Tuesday — just 11 days before the Dec. 6 Louisiana Senate runoff between Cassidy and incumbent Democratic Sen. Mary Landrieu. The records also were the subject of a report on the political blog by Lamar White Jr. on CenLamar.com.
The reports outline Cassidy’s continued work for LSUHSC after his election to Congress in November, 2008. The House Ethics Committee approved part-time work for Cassidy as a “teaching physician,” offering a “regular course of instruction.”
In an interview Wednesday, Cassidy said that although LSUHSC records don’t show him doing lectures, he taught students as he and they worked with patients at clinics and other facilities. He also advised students, worked with them on their research and papers, including in Washington when he would meet with students doing residencies and internships in area medical facilities after the day’s congressional work ended.
Memos from LSUHSC said that Cassidy was expected to work, “on average,” 7.5 hours a week, or 30 hours a month, for a stipend of $20,000, reflecting about one-fifth of his hours and pay from before 2009 when he was working full-time.
But 16 time sheets obtained from LSU by American Zombie, and later provided NOLA.com | The Times-Picayune, show he reported working a cumulative 219.75 hours, or 13.7 hours per month — well short of the 30 hour per month figure. None of the time sheets showed him working more than 27 hours in a single month.
Cassidy said that he wasn’t being paid “by the hour,” and that he worked longer hours when Congress wasn’t in session. A Cassidy campaign spokesman said he often worked more than the specified hours for LSCHSC.
The blogs questioned whether it was appropriate for Cassidy to retain his tenure at LSUHSC after going part-time, and to be compensated for malpractice insurance. Cassidy said LSU provides malpractice insurance for all is part-time physicians.
As for tenure, Cassidy said he wasn’t even aware he had been kept in a tenured position.
To quote my friend Nath Pizzolato, “BILL CASSIDY draws a PAYCHECK from the FEDERAL GOVERNMENT AND from the STATE GOVERMENT for a job he’s NOT EVEN WORKING? And even though BILL CASSIDY is in the top ONE PERCENT, his wife draws her own GOVERNMENT PAYCHECK for NOT WORKING? THREE GOVERNMENT PAYCHECKS? Sounds like THE CASSIDYS are some WELFARE FREELOADERS GETTING RICH off HARD-WORKING, HONEST TAXPAYERS.”
Late Tuesday, a handful of local Louisiana political blogs released internal emails and school records they say call into question whether Cassidy remained on payroll as a congressman while not contributing at the school, wrongly logged hours at LSU while he was in Washington, and whether he maintained tenure when he didn’t meet the minimum requirements.
“The documents speak for themselves and certainly raise serious questions that Congressman Cassidy will have to answer,” Landrieu spokesman Fabien Levy said in a statement.
“Congressman Cassidy may have taken home over $100,000 in taxpayer funds for work he never did. Most people don’t get paid enough for the work they do, let alone for the work they don’t do. But it seems Congressman Cassidy got a pat on the back and a check in the bank. Louisiana taxpayers deserve answers.”The Landrieu campaign noted that some people at LSU have been arrested for falsifying time sheets.
Lamar White’s blog piece was picked up by IND Reporter the day he published it. I love that he’s coined the Congressman “Double Bill” Cassiday given he’s getting paid by Congress and the state simultaneously.
On at least 21 different occasions during the last 2.5 years, Rep. Bill Cassidy billed the Louisiana State University Health Sciences Center for work allegedly performed on the same days Congress voted on major legislation and held important committee hearings on energy and the Affordable Care Act, according to records first posted by Jason Berry ofThe American Zombie. Cassidy, a medical doctor, remained on LSU’s payroll after he was first elected, despite concerns by his associates about the nature of work that Cassidy, as a member of Congress, could legitimately conduct in his capacity as an employee of LSU.
Cassidy faces incumbent U.S. Sen. Mary Landrieu in the Dec. 6 runoff.
In May of 2010, Cassidy received an extensive opinion from the House Committee on Standards of Official Conduct, advising, among other things, that he could be compensated as a “teaching physician” who teaches “a regular course of instruction.” The House Committee also advised Cassidy that, although he is prohibited from practicing medicine for compensation, he could still accept “payments for professional medical services in an amount that does not exceed the actual and necessary expenses associated with the medical services provided.” Payments for actual and necessary expenses associated with medical services, it is worth noting, are considered on a case-by-case basis; physician members of Congress are not allowed to earn a salary for the practice of medicine.
Although the records released are incomplete, they raise serious legal and ethical questions about Cassidy’s role at LSU and seem to suggest that Cassidy may have been in open violation of the House Committee’s clear guidelines and may have been grossly overcompensated for his work.
Instead of taking a leave of absence from LSU after he was elected in November 2008, Cassidy agreed to an 80 percent reduction in his salary, or approximately $20,000 a year, slightly less than the $26,550 annual limitation on outside wages earned by members of Congress. There were practical reasons a physician who had been newly and narrowly elected to a Congressional seat that had already changed hands twice in the last two years would want to remain on LSU’s payroll: In addition to his salary, LSU also paid for Cassidy’s medical malpractice insurance, continuing education, and licensing fees, expenses that can easily total in the thousands. In the event that he lost re-election, he would be able to immediately return to his medical practice, without even skipping a beat.
Remember this guy is part of Boehner’s gang that hates the Affordable Health Care Act and votes against poor people getting any kind of government money. He even voted against his own district getting Hurricane Relief. He also wants to privatize Medicare while his wife uses it as part of her disability benefits. He said that he didn’t during a recent debate, but here’s the article from two years ago showing the votes. Again, Newspapers across the state are supporting Landrieu. I can’t imagine facing a major hurricane again without her.
Anway, I hope you have a good long weekend and that you have plenty of food on your table! I’m terrifically busy right now but I will be attending a brunch on Sunday with Debbie Wasserman Schultz. I hope I can report back on that for you.
If you want to read the original great analysis and work done by two Louisiana bloggers, be sure to check out their original analysis on the Double Bill. Here’s the article from CenLAmar’s site. Also, here’s the link to American Zombie. Lamar and Jason did a great job pulling the data together and doing the analysis. It appears their work has “legs”. Go give them some traffic love!!!
What’s on your agenda today? This is an open thread so have at it!!!
Bonus Turkey Material: TURKEYS AWAY!!!
Tuesday Reads: Obvious Misogyny (at least to us anyway)
Posted: November 18, 2014 Filed under: Hillary Clinton, misogyny, morning reads, Rape Culture, The Media SUCKS, Vagina, War on Women | Tags: agism, Bill Cassidy, European Space Agency, Jean-Paul Goude, Kim Kardashian, Mary Landrieu, Matt Taylor, PhD costume, Racism, Sexism 39 CommentsGood Morning!
I avoid pop culture whenever possible. I admit to being an effete snob about the music, the fashion, the sheeplike behavior of the entire thing. Sometimes, pop culture just forces itself on you to the point you have to just sit down and ask yourself WTF were they thinking? So, with that and a series of face palms, I direct your attention to obvious misogyny with definite agist and racial overtones. Nothing breaks the internet quite like some one who just refuses to see what they’ve done.
So, first up is an ad that’s attacking Senator Mary Landrieu that just makes me want to scream bloody murder. I’m really tired of the entire ploy to make older women irrelevant. This definitely falls into this category and the boyz behind it are like “what, sexist and agist, who me?”
Democratic Sen. Mary Landrieu is denouncing an attack ad against her as being sexist because it shows her aging.
The ad, paid for by the Ending Spending Action Fund, suggests Washington has changed Landrieu, 58, over time and uses the age progression to illustrate that change.
Landrieu campaign spokesperson Fabien Levy called the ad “appalling.” He said it’s an example of Republican challenger Rep. Bill Cassidy and his allies distracting from the issues.
“It is appalling that Congressman Cassidy and his allies would illustrate the senator’s age progression with a leading phrase that Washington has ‘changed’ her,” Levy said. “The ad is as classless as it is sexist, and Congressman Cassidy and his allies should remove [it] from television immediately.”
It’s hard to know what to say to below the belt optics like this that play into the idea of how a woman of a certain age–past the change–is all used up. I see it. Do you? Of course, we’ve seen this and many other sexist tropes applied to Hillary Clinton and I’m getting prepared for a lot more.
Let me first be transparent here: I’m a Republican, and I’d like nothing more than to see Clinton go down in flames. And, as a recent front-page story in The New York Times noted, many in my party are already seeking to label the former first lady a “has-been” by virtue of her decades on the political stage.
Their case is as follows: Clinton has been in the spotlight in one form or another since the late 1970s when her husband, Bill, first became attorney general in their home state of Arkansas at the age of 30. Ironically, as Times reporter Jonathan Martin pointed out, it was Bill’s youthfulness that propelled him to the Arkansas governorship and later the presidency. Now, it could be the inverse that puts the brakes on the Hillary freight train.
There is undoubtedly a lot of spin in this new anti-Clinton narrative. But there are indeed signs that the baby boomers are going to have a tough time winning another presidential race.
That is a really stale link to an article titled “Hillary Clinton is too Old to be President”.
The next thing up is one ESA scientist who has all the sympathy the dudebro crowd can muster. He did a major interview about the Rosetta project while wearing a Hawaiian shirt. I generally expect scientists to be quirky so that doesn’t bother me at all. What bothered me and many other women is that it was bedecked with the stereotypical male fantasy of a submissive, naked female in fetish wear with space guns. You won’t believe the deep denial of the dudebro crowd on this one. I kept seeing nerd guys acting like women were upset because NAKED! Dude, it’s not the lack of clothes. It’s the impossible body image, the obvious visual references–repeatedly–to the submissive woman, and the overall lack of awareness of the wearer who should know that women frequently feel pushed out of career areas where this kind of subtle, perpetual sexual harassment happens. The scientist cried when he figured it out but the dudebro crowed continues to call us the new puritans because we’d rather have a more female-centric idea of our bodies and expressions of our sexuality. I see it. Do you?
Dr. Matt Taylor, one of European Space Agency scientists responsible for landing a spacecraft, on the surface of a comet, offered a tearful apology today for his tasteless choice in button-downs. On a streamed Google Hangout, hosted by the ESA, Dr. Taylor said he was “very sorry” and called wearing the shirt “a big mistake.”
In a post Philae landing-interview, Dr. Taylor was wearing a Hawaiian-style shirt covered with scantily clad women. Many picked up on this outfit choice, and were understandably outraged. A deluge of tweets and responses spilled onto the Internet. (In an aside there was the not shocking discovery that women who tweeted displeasure with the shirt were attacked, and men who tweeted criticism of the shirt were not.)
The shirt itself is pretty tasteless. The women on it are another reinforcement of our icky societal standard of beauty; the women are celebrated for their sex appeal. And the fact that Taylor thought that this was appropriate could point to the fact that he doesn’t work with enough women, or that he lacks the judgement to see how this could be offensive. Both are serious and issues.
Young girls are discouraged from the sciences (myself included, but that is a different story). There is also a huge terrible dearth of women in STEM fields, and when women are in those fields they must often contend with harassment, sexism and unequal pay. Because even if a woman does make it through the pipeline into STEM, they are not treated properly.
The shirt was more than just nearly naked women.
However, I think there is a bigger problem. I’ll admit I don’t know the full gender breakdown of every scientist who worked on the Rosetta mission (and I searched for a list). However, watching the livestream of the Philae landing, during the
victory speeches I saw microphone passed from man, to man, to man, and a female master of ceremonies (who had to call someone out for flirting). And on the Google Hangout, where Taylor made his apology, there were two women: one was the moderator, and one lone female scientist. That is a problem.
Hey little girls! Welcome to your STEM career where we constantly remind you that your role as a space engineer is to be Barbarella!!!
Perhaps you’d like a sexy Ph.D costume to go with that doctorate in astrophysics? Yes, yes, I am a humorless feminist on this one. (h/t to Delphyne for this one.)
The “Delicious Women’s Ph.D Darling Sexy Costume,” available on Amazon, features a “micro mini graduation robe” and cap, but you’ll have to provide your own high heels.
Women who actually hold Ph.Ds have started reviewing the costume, and their responses are nothing short of incredible. Here are eight of the best responses:
1. This costume doesn’t live up to its name. — Alyssa Picard
Sleeves are too short & have no stripes. Costume does not feature a hood. This is a “sexy BA” at best.
2. This product definitely helps women with Ph.Ds feel sexier. — Dawn Rouse
Like all lady Ph.Ds, I frequently ask myself: “How could I be sexier?”
Delicious costumes has come to my rescue! I can now lecture in my 5 inch gold spiked heels and “barely there” regalia while giving nary a thought to the male gaze and its implications on the prevalence of rape culture in our society.
I fully expect my chili pepper rating on RMP to go through the roof once I begin to greet my students in this costume. Hopefully I can keep my “post structural hegemonies” from engaging in some wardrobe malfunctions. Then again, who cares?
I’m sexy! Forget about the 7 years I spent sweating out a dissertation and engaging in innovative research!
SEXY!!!!
3. The perfect outfit for showing off one’s accomplishments. — Mary from MN
When I left my nursing job for graduate school, I was so distressed. I mean what was I going to wear? There were plenty of sexy nurse costumes that I could wear to honor my accomplishments in that profession, but after I attained my PhD there was something missing. I was better educated, but not sexy. Until now. Thank you, Delicious Costumes, for filling the void. You’ve given women like me who have worked our asses off earning our degrees a way to show our asses off, too. Keep it classy, Amazon.
4. Why wasn’t this available in the ’90s? — Elizabeth P. Mackenzie
I got my Ph.D. in 1997. If only I had known about this costume. I would have worn it to liven up my doctoral defense. Instead of my committee focusing on the boring experiment they made me do over the course of several years and giving me a three hour long exam, I could have worn this, popped out of a cake, batted my eye lids asked adorably, “Puwease let me have a Ph.D.? I’ve been so good.”
Also, math is hard.
5. Perfect for all graduate student activities! — Tracy L. Brock
Wow! Super-slinky yet surprisingly comfortable for those long nights lounging around grading poorly organized undergrad essays. Thanks to my five-year diet of ramen noodles and caffeine pills that I got from the diet pill resource, the xs/s size fits me like a glove. I’ve never felt sexier–or smarter!
6. This outfit failed to get me tenure. Would not recommend. — PassionPhD
I spent 6 years working hard to get my PhD, which was extra hard because I am a lady, and it hurt my ovaries to think so much. After obtaining this advanced degree, the only position I could secure, like the majority in my field, was an adjunct position teaching for less than $2000 a course. Then I got this LadyPhD regalia and my life immediately changed! My department, full of esteemed and very prestigious senior male tenured faculty, saw me walking in the hall, invited me into the department meeting, and right there on the spot, immediately voted to make me a TENURED FULL PROFESSOR.
Sadly, the next morning, I found out it was NOT a faculty meeting that I had wandered into, just professors having an office cocktail party and I was not tenured after all. I WANT MY MONEY BACK. I have student loans to pay off!!
Here are some twitter comments on the Taylor shirt to check out what women and supportive men were saying. You can go find the stunned misogynist comments on your own.
Okay, so here it is. This is the one topic that I really didn’t want to write about but am doing it any way. The obviously photoshopped, distorted picture of Kim Kardashian’s body was last week’s topic. But, I’ve finally decided I want to take it on. Again, it’s not about the nudity. It’s not about her being a mother and being nude or sexual. It’s the overt misogyny with an objectification of a distorted female form that’s the problem. Kim obviously is a willing participant in all of this and seems to thrive on being the subject–or object–of voyeurism.
The problem is that her photos are just the latest run at an old theme from an artist that has used similar pictures to objectify black women as willing exotic savages all ready for pillage. So, here we go with the Kim Kardasian Butt Saga.
The photographer responsible for the image is Jean-Paul Goude, and there’s more to know about him than that he’s “French” and “legendary.” Both those things are also true, but there’s this too: his artistic history is fraught with justified accusations of objectifying and exoticizing black women’s bodies. This isn’t a tangent of his work –- it’s what his entire oeuvre is built upon. It’s not a coincidence that his 1983 pictorial autobiography is titled Jungle Fever. “Blacks are the premise of my work,” the artist told People magazine in 1979, “I have jungle fever.”
To create his exoticized images, Goude would photograph black women in poses which ranged from athletic to primitive. He would then literally cut the image into pieces and reassemble it to create something even more formidable. You can see how he pulled off the pre-photoshop manipulation via the infamous photo he created of Grace Jones, with whom he had a turbulent relationship in the ’80s, for the artist’s now-iconic Island Life album cover:
Criticizing Kim’s cover because “it’s Photoshopped” is missing the point of his art. As Goude said of the Jones cover, “…unless you are extraordinarily supple, you cannot do this arabesque. The main point is that Grace couldn’t do it, and that’s the basis of my entire work: creating a credible illusion.”
Paper is wrongly attributing the inspiration for Kim Kardashian’s cover to a vintage Goude photo called “Champagne Incident.” The photo is actually 1976′s “Carolina Beaumont,” and it’s about more than balancing skills. An innocent mistake perhaps, but the fact that Beaumont is being literally obscured by it seems sadly appropriate.
So, this has not gone unnoticed in places where racism and sexism matter.
So last night while everyone else was arguing over Kim’s K’s right to show her butt, my focus was on something else entirely. When I looked at the spread all I saw was a not so subtle reincarnation of Saartjie Baartman – imagery that is steeped in centuries of racism, oppression and misogyny. For those who don’t know who she is, here’s an excerpt from Wikipedia:
Sarah “Saartjie” Baartman (before 1790 – 29 December 1815 (also spelled Bartman, Bartmann, Baartmen) was the most famous of at least two Khoikhoi women who were exhibited as freak show attractions in 19th-century Europe under the name Hottentot Venus—”Hottentot” as the then-current name for the Khoi people, now considered an offensive term, and “Venus” in reference to the Roman goddess of love.
Saartjie was a woman whose large buttocks brought her questionable fame and caused her to spend much of her life being poked and prodded as a sexual object in a freak show.
Sound familiar?
But something tells me Kim probably has no clue about the cultural and historic significance of what she’s done. Instead, she probably just thought it would be cool to do an edgy photo shoot with famous photographer. And many of you have fallen for that oversimplified stance as well.
I’m the first to admit that some of the work that Jean-Paul Goude has done over the past 30 years has become iconic, particularly his work with his (then-girlfriend) Grace Jones. But the one he chose to recreate for Paper Magazine is problematic for several reasons.
The original shot is of a black woman standing in front of a blue wall while she pops champagne into a glass placed on her rear end. And it’s from a book entitled: Jungle Fever.
Let that soak in for a second. Jungle. Fever.
According to a People Magazine article written about the couple in 1979:
Jean-Paul has been fascinated with women like Grace since his youth. The son of a French engineer and an American-born dancer, he grew up in a Paris suburb. From the moment he saw West Side Story and the Alvin Ailey dance troupe, he found himself captivated by “ethnic minorities—black girls, PRs. I had jungle fever.” He now says, “Blacks are the premise of my work.”
This is a man who boldly told news reporters that his black girlfriend was a “schizo… outrageous bitch”and that at times he would get hysterical and explode in violence during their arguments.
You can learn more about the artist here.
Though he was criticized at the time—and still is—for exoticizing African-American women in his work, a claim that wasn’t helped by his book Jungle Fever, Goude’s images of Grace Jones at least presented her as a strong female. In some ways, they were arguably feminist, with Goude broadening her shoulders and lengthening her neck so she appeared to be towering over the viewer. It’s also hard to imagine Grace Jones, an innovator who did it all—production, recording, singing, acting, modeling—not being in full control of her image. (In the case of “Carolina Beaumont,” the original image is certainly a conversation starter about race and femininity but, judging from that photo, the model looks like she’s having just as much of a good time as Kim K.)
Arguably feminist? Discuss!
Yes, here we are again in a time still promoting body dysmorphia for women. It just makes me damned mad. But then, I’ve been spending a lot of time reading why feminism isn’t necessary and what it’s terrible because men are the real victims of sexism like that poor scientist and his Groovy shirt. I personally feel like I just wrote part deux to my 1975 Feminist Philosophy class midterm essay during my sophomore year of university. Really! This still? Really?
Will it ever end?
What’s on your reading and blogging list today?
Monday Reads
Posted: September 29, 2014 Filed under: morning reads | Tags: Death penalty for abortions, Elizabeth Warren, FED, Goldman Sachs, Martha Raddatz, Mary Landrieu, Regulatory Capture, Sherrod Brown, Whistle Blowing 38 Comments
Good Morning!
I attended a V to shining V party on Saturday night! It was great to be out among active women’s rights advocates. We also had some great snacks and games. We got to “Pin the Probe on the Politician”. Those pictures are of Bobby Jindal, Bill Cassidy, and Rick Perry all appropriately pinned at various points. I’m continuing my stump for Mary Landrieu and polls show that I’ve got to continue to work to find support and volunteers for her.
As Democratic Sen. Mary Landrieu defends her U.S. Senate seat in Louisiana, a new CNN/ORC International pollindicates the third-term incumbent carries a slim advantage over her closest GOP rival in the general election this November.
But this is Louisiana, and the election system can be complicated. There are nine candidates — Republicans, Democrats, and a Libertarian — on the ballot this November, and if no candidate crosses the 50% threshold, the race moves into a December runoff between the top two contenders.
Landrieu currently falls well below the 50% mark at 43% support among likely voters. Republican Rep. Bill Cassidy comes in second at 40%, according to the survey.
But the poll’s sampling error among likely voters is plus or minus four percentage points, meaning the two candidates are about even.
In a state with large swaths of conservative voters, Landrieu is considered one of the most vulnerable Democrats up for re-election this year. Republicans, eager to take control of the Senate, have focused on the race as a potential pick-up seat. The GOP needs a net gain of six seats to retake the majority.
If the horse race in Louisiana stays relatively the same, Landrieu and Cassidy would be the two candidates heading into the runoff — and that’s when things flip.
The poll indicates that Cassidy would fare slightly better in a runoff than Landrieu, 50%-47%.
“Keep in mind that the electorate in December is probably going to be smaller and quite a bit different from those who turn out to vote in November,” CNN Polling Director Keating Holland said.
I thought I’d bring up something that’s been intriguing me for a few days. A whistle blower–Fed Employee–has pretty much charged the New York Fed with being captured by Goldman Sach’s. The story was first broke by ProPublica. The woman was fired when she released a negative assessment of GS during an examination.
Barely a year removed from the devastation of the 2008 financial crisis, the president of the Federal Reserve Bank of New York faced a crossroads. Congress had set its sights on reform. The biggest banks in the nation had shown that their failure could threaten the entire financial system. Lawmakers wanted new safeguards.
This story was co-published with This American Life, from WBEZ Chicago.
Hear the radio version onthese stations or download the episode now.
The Federal Reserve, and, by dint of its location off Wall Street, the New York Fed, was the logical choice to head the effort. Except it had failed miserably in catching the meltdown.
New York Fed President William Dudley had to answer two questions quickly: Why had his institution blown it, and how could it do better? So he called in an outsider, a Columbia University finance professor named David Beim, and granted him unlimited access to investigate. In exchange, the results would remain secret.
After interviews with dozens of New York Fed employees, Beim learned something that surprised even him. The most daunting obstacle the New York Fed faced in overseeing the nation’s biggest financial institutions was its own culture. The New York Fed had become too risk-averse and deferential to the banks it supervised. Its examiners feared contradicting bosses, who too often forced their findings into an institutional consensus that watered down much of what they did.
The report didn’t only highlight problems. Beim provided a path forward. He urged the New York Fed to hire expert examiners who were unafraid to speak up and then encourage them to do so. It was essential, he said, to preventing the next crisis.
A year later, Congress gave the Federal Reserve even more oversight authority. And the New York Fed started hiring specialized examiners to station inside the too-big-to fail institutions, those that posed the most risk to the financial system.
One of the expert examiners it chose was Carmen Segarra.
Segarra appeared to be exactly what Beim ordered. Passionate and direct, schooled in the Ivy League and at the Sorbonne, she was a lawyer with more than 13 years of experience in compliance – the specialty of helping banks satisfy rules and regulations. The New York Fed placed her inside one of the biggest and, at the time, most controversial banks in the country, Goldman Sachs.
It did not go well. She was fired after only seven months.
So,I should remind you that I used to work for Fed Atlanta. I should also tell you that I’ve thought the NYC Fed has been a prime example of regulatory capture. You can go back into the files to see my dissections of the 2005 financial crisis as well as read my contempt for Gaithner. But, anyway, this story has legs, as they say so I wanted to share some updates.
Segarra found three clear cases where Goldman appeared to be engaged in wrongdoing, but where Fed staff pushed back at her attempts to correct it. The latter two incidents have audio evidence from Segarra’s recordings corroborating them.
The wealthy clients incident
A senior Goldman executive, at a meeting with Fed officials early in Segarra’s tenure, expressed the view that “once clients were wealthy enough, certain consumer laws didn’t apply to them,” in Bernstein’s words; this is corroborated by minutes from the meeting in questions. When Segarra tried to look into the issue further, a Fed colleague protested, saying the executive didn’t say that, or if he did, that he didn’t mean it.
The Santander incident
In early January, Goldman was closing a deal with the Spanish bank Santander, the point of which, Fed regulators discerned, was to take risky assets off of Santander’s hands so as to increase its ratio of capital to assets so as to comply with European regulators. The deal required Goldman to notify the Fed about the deal and get it to sign off, which Goldman hadn’t done.
While Fed officials, including Michael Silva, initially sounded outraged, in the end Silva only brought it up once, at the very end of a meeting with Goldman officials, and in a tone that Segarra found overly deferential. She thought the debrief from the meeting with other Fed officials suggested the Fed feared Goldman retaliation if they were too aggressive. This was despite the fact that Goldman was required to hand over information and the Fed could punish it, including criminally, if it failed to comply.
The most forceful action they considered taking against Goldman for the deal was sending them a letter; Bernstein couldn’t confirm that one was ever sent.
The conflict of interest policy incident
The Fed requires banks like Goldman to have firmwide conflict of interest policies that fit certain requirements. Segarra concluded that Goldman lacked such a policy, not least because Goldman’s staffer in charge of managing conflicts of interest told her the firm’s policy had no definition of “conflict of interest.”
Silva agreed with her. But after he got pushback from another Fed examiner, he changed his view, just as Segarra was about to take regulatory action to force Goldman to adopt a real policy. Silva protested that the bank had a conflict of interest policy, but Bernstein notes that it was “just a few paragraphs long and very general .… We showed it to two experts: former Fed examiners familiar with the Fed’s guidance on this issue. They both said it wouldn’t qualify as a policy.”
Silva urged her to recant her statement that there was no policy, despite the fact that he could have easily overridden her. Segarra suggests this was because, to quote Bernstein, “if she submitted her conclusions, it would create a formal record that her bosses didn’t want.” Eventually, Segarra agreed to say there was was a policy, albeit a “very poor policy,” but privately insisted to Silva that there was “no way this is a policy.” A week later, she was fired.
Elizabeth Warren–the senator at the right place, right time and with the right amount of expertise is calling for investigations. Notice both the Senator and the Whistle Blower are outspoken,intelligent, and obviously moral women.
An influential U.S. senator wants to hold hearings into “disturbing” issues raised by secretly taped conversations between Federal Reserve supervisors and officials at Goldman Sachs Group Inc <gs.n>, a bank the Fed was tasked with policing.
Elizabeth Warren, a Democrat on the Senate Banking Committee, on Friday called for hearings after portions of the recordings from 2011 and 2012 were made public. Fellow Democrat Sherrod Brown, also a committee member, called for a “full and thorough investigation” into the allegations they raised.
I’m hoping this does lead to an investigation and perhaps a call for changes in laws and the regulatory regime. I see that Sherrod Brown from Ohio has also called for congressional investigations.
Sens. Elizabeth Warren (D-Mass.) and Sherrod Brown (D-Ohio) are both calling for Congress to investigate the New York Federal Reserve Bank after recently releasedsecret recordings show the central bank allegedly going light on firms it was supposed to regulate.
Warren and Brown, both members of the Senate Banking Committee, called for an investigation of the New York Fed after Carmen Segarra, a former examiner at the bank, released secretly recorded tapes that she claims show her superiors telling her to go easy on private banks. Segarra says that she was fired from her job in 2012 for refusing to overlook Goldman’s lack of a conflict of interest policy and other questionable practices that should have brought tougher regulatory scrutiny.
Finally, a right wing forced birth zygote fetishist who will fess up to wanting to kill doctors, women, nurses, and any one else who might be associated with an abortion. We’ve always known they were pro death penalty for any one that steps out side their narrow world. The National Review’s Kevin D. Williamson wants them all “shot or hung”.
So this morning on Twitter, this happened; National Review writer Kevin D. Williamson made the real “pro-life” agenda very, very clear, expressing his opinion that women who have abortions should be put to death — by hanging. And not just the women; he says the doctor who performs the abortion, the nurses who assist, and the hospital staff who enable it should also be executed.
This was not satire, or a “joke.” He really believes this, as you’ll see if you read the following Twitter collection from the bottom up.
Is it more or they just getting more out there and obvious all the time? I think they just want women to shut up and go away. Oh, in an interesting turn of events ABC’s Martha Raddatz cut off Rick Perry in mid conspiracy theory rant. Do you suppose they’re actually going make a practice of this?
ABC News host Martha Raddatz on Sunday cut off Texas Gov. Rick Perry (R) after he spent four minutes defending a conspiracy theory that President Barack Obama was plotting to fill up the United States with undocumented immigrants.
Speaking to Fox News last week, Perry had asserted that the president was responsible for the growing crisis of women and children immigrants coming across the border.
“We either have an incredibly inept administration, or they’re in on this somehow or another,” Perry opined. “I mean I hate to be conspiratorial, but I mean how do you move that many people from Central America across Mexico and then into the United States without there being a fairly coordinated effort?”
During a Sunday interview on ABC News, host Martha Raddatz gave the Republican governor a chance to back away from his conspiracy theory.“Governor, do you really believe there’s some sort of conspiracy to get people into the United States by the federal government, by the Obama administration?” Raddatz asked.
“When I have written a letter that is dated May of 2012, and I have yet to have a response from this administration, I will tell you they either are inept or don’t care, and that is my position,” Perry said, doubling down on the theory. “We have been bringing to the attention of President Obama and his administration since 2010, he received a letter from me on the tarmac… I have to believe that when you do not respond in any way, that you are either inept, or you have some ulterior motive of which you are functioning from.”
The former Republican presidential candidate added that his theory was proved by the fact that the president had not responded to his letter, and had not deployed drones to the border.
“Unless we secure our southern border, this is going to continue to be a massive amount of individuals that are coming to the United States,” Perry warned. “And, frankly, we don’t have a place to house them as it is. And if we have a major event, a hurricane that comes in to the Gulf Coast, I don’t have a place to be housing people who are displaced because this administration…”
At that point, Raddatz interrupted Perry and ended the interview.
I will once again point out that it was MARTHA Raddatz and not GEORGE that stepped in and actually acted embarrassed to question an obviously whacked set of answers to a legitimate question.
I think I’m finding a pattern of a need for more women in positions that matter.
So, that’s it for me this morning! What’s on your reading and blogging list today?
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