Showing posts with label wacky. Show all posts
Showing posts with label wacky. Show all posts

Thursday, January 26, 2012

Is 2012 The Year White Male Republicans Realize Their Dreams of Government Control of Women's Bodies

2012 The Year White Male Republicans Realize Their Dreams of Government Control of Women's Bodies

2011 was a banner year for anti-choice activists who succeeded in pushing through a record number of abortion restrictions. But it’s a new year, and it appears the GOP is dead set on outdoing itself. Republicans in Congress and across the country are introducing a variety pack of extreme anti-abortion bills — including personhood initiatives, heartbeat bills, and fetal pain bills — that saw some success last year. Here is a run-down of the abortion restrictions American women across the country are already facing in the first month of 2012:

    – PERSONHOOD: The Virginia General Assembly’s very first bill, House Bill 1, is a “personhood” measure that defines life as beginning at conception and would essentially outlaw abortions. Modeling it on Mississippi’s failed measure, Virginia Republicans threaten to outlaw birth control and in vitro fertilization for couples trying to have a baby. Anti-choice activists hope to push similar measures in at least 11 other states, including Ohio and Kansas.

    – RACE-BASED ABORTIONS: Following in Arizona’s footsteps, Florida Republicans introduced a bill that would “require abortion providers to sign an affidavit stating they’re not performing the procedure because the woman did not want a child of a particular gender or race.” Despite a complete lack of evidence, they insist that minority women are seeking abortions, or have a higher abortion rate in their communities, because they loathe the race or sex of the fetus.

    – FETAL PAIN: Florida Republicans are simultaneously pushing a bill that prohibits abortion after 20 weeks based on the unfounded idea that fetuses can feel pain. “They suck their thumbs,” said state sponsor Rep. Daniel Davis (R). “They get hiccups. They get excited when their mom talks. They feel pain.” The medical community, however, insists that it is highly unlikely the fetus registers pain as its brain is not developed enough. U.S. Rep. Trent Franks (R-AZ) introduced the same measure to ban post-20 week abortions for women in Washington, D.C in order to protect a fetus from “the agonizing process of being aborted.”

    – HEARTBEAT BILL: Slowly proceeding in Ohio, the “heartbeat” bill is also gaining a foothold in the Oklahoma legislature. State Sen. Dan Newberry (R) and state Rep. Pam Peterson (R) filed companion measures that “require abortion providers to use a fetal heart rate monitor on the fetus of a woman who is at least eight weeks pregnant and make the heartbeat of the unborn child audible before an abortion is performed.” The heartbeat can often be detected as early as “six to seven weeks,” before a women even knows she is pregnant.

House GOP Reps. Jeff Duncan (R-SC) and Jim Jordan (R-OH) are also pushing their own anti-abortion bills in Congress. Duncan’s bill would “require abortion providers to obtain written certification from a woman seeking an abortion, then to wait 24 hours after that certification before performing the abortion.” Jordan’s bill would “require women seeking an abortion to be given the chance to view an ultrasound of their unborn child before obtaining the abortion.”

Wouldn't it be great if conservatives cared as much about real living human beings as they claim to care about a mass of tissue. They care so much about that tissue they freely lie and exaggerate. Ironically they hate the average American much they also lie and exaggerate to make life as hard as possible for them.

Monday, January 16, 2012

Sadly, Conservatives Are Not Patriots, They are Ethnocentric Nationalists Who Love Their Plutocratic Masters

















Sadly, Conservatives Are Not Patriots, They are Ethnocentric Nationalists Who Love Their Plutocratic Masters

Calls to rally the virtuous "producing classes" against evil "parasites" at both the top and bottom of society is a tendency called producerism. It is a conspiracist narrative used by repressive right wing populism. Today we see examples of it in some sectors of the Christian Right, in the Patriot movements and armed militias, and in the Far right. (see chart of US right). Producerism is involved in the relationship between Buchanan, Fulani, Perot, and the Reform Party.

Producerism begins in the US with the Jacksonians, who wove together intra-elite factionalism and lower-class Whites’ double-edged resentments. Producerism became a staple of repressive populist ideology.  Producerism sought to rally the middle strata together with certain sections of the elite. Specifically, it championed the so-called producing classes (including White farmers, laborers, artisans, slaveowning planters, and “productive” capitalists) against “unproductive” bankers, speculators, and monopolists above—and people of color below. After the Jacksonian era, producerism was a central tenet of the anti-Chinese crusade in the late nineteenth century. In the 1920s industrial philosophy of Henry Ford, and Father Coughlin’s fascist doctrine in the 1930s, producerism fused with antisemitic attacks against “parasitic” Jews.

Conservatives like to talk in big expansive terms about freedom, family and values. Dive into the details and you find their family values are all about their families, freedom is only for what they want - much like a five year old, and theyir values rest on the foundation of a cruel dog-eat-dog society perpetually at war.

Wednesday, January 11, 2012

None of the 2012 Republican Presidential Candidates Are Serious About Deficit Reduction or Stopping Redistribution of Wealth to the Wealthy

















None of the 2012 Republican Presidential Candidates Are Serious About Deficit Reduction or Stopping Redistribution of Wealth to the Wealthy

The 2012 Republican candidates are largely in lockstep when it comes to economic policy, wanting to give huge tax cuts to the rich and corporations while doing next to nothing to boost consumer demand or help the middle class and the unemployed who have been battered by the Great Recession. In fact, according to an analysis by Citizens for Tax Justice, the average tax cuts received by the richest 1 percent of Americans under the Republican plans would be 270 times as large as the cut received by the middle class:

    The share of tax cuts going to the richest one percent of Americans under these plans would range from over a third to almost half. The average tax cuts received by the richest one percent would be up to 270 times as large as the average tax cut received by middle-income Americans.

Perry wins the award with a tax cut for the richest 1 percent that is 270 times larger than his middle class tax cut, while Gingrich’s is 190 times larger. Santorum and Romney pull up the rear with tax cuts for the rich that are 100 times larger than the cuts for the middle class, while CTJ did not analyze Jon Huntsman or Ron Paul’s plans. (CTJ uses a current law baseline, rather than a current policy baseline, to calculate its cuts. Using a current policy baseline, millions of middle class families would see a tax increase under Romney’s plan.)

CTJ also noted that “the cost of the tax plans proposed by Republican presidential candidates would range from $6.6 trillion to $18 trillion over a decade.” Therefore, “even the meager tax cuts that would go to low-income and middle-income taxpayers under these plans would almost surely be offset by the huge cuts in public services that would become necessary as a result.”

The conservative field of candidates are classic example of robbing Peter to pay Paul, or putting a little more money in one pocket of the middle-class and taking it out of the other. One of the results of progressive taxation is that a little bit of the extraordinary wealth accumulated at the top goes back to help pay for bridges, roads, medical research, firefighting equipment, public universities and so forth. All of those things and more will suffer even more budget cuts. For what? So multimillionaires and billionaires can hoard even more unearned income than they already have.

Monday, January 2, 2012

His Royal Highness Mitt Romney Really Cares About The Workers





















His Royal Highness Mitt Romney Really Cares About The Workers

Speaking to reporters tonight in Des Moines, Iowa, a worker laid off by a company owned by Bain Capital accused former Bain Capital CEO and current Republican presidential candidate Mitt Romney of being “out of touch” with the concerns of average Americans.  Randy Johnson and more than 250 of his fellow workers at a Marion, Indiana American Pad and Paper (AMPAD) facility lost their jobs after Bain decided to close the plant amid a labor dispute.  Johnson, who noted that he personally reached out to Romney during the labor dispute, said, “I really think [Romney] didn’t care about the workers. It was all about profit over people.”  In addition to the layoffs and eventual bankrupting of AMPAD, Bain Capital under Romney’s leadership drove several other firms into bankruptcy and caused thousands of layoffs.

Conservatives and of course the radical anti-American movement known as conservatism finds nothing wrong with this kind of dog-eat-dog crony capitalism. Fair and humane capitalism in the tradition of American values is considered communism by the rabid fake patriots like Romney.

Saturday, December 31, 2011

Much of the World, Including The U.S., Does Does Practice Capitalism, They Practice Greed



















Much of the World, Including The U.S., Does Does Practice Capitalism, They Practice Greed

For those looking for signs of how globalization has woven the world into a web of unexpected vulnerability, 2011 offered a bumper crop.

An earthquake in Japan sent the global auto manufacturing industry into a conniption.

A flood in Thailand drastically reduced supplies of computer hard drives, forcing even a titan like Intel to swiftly reduce revenue forecasts.

State-subsidized solar panel production in China crushed a U.S.-subsidized solar start-up, thereby igniting a Washington political scandal.

It is child’s play to find further examples. The underlying reality is that unexpected consequences make everyone nervous. Sensibilities are on hair trigger. Just two weeks ago, the New York Times captured the new jitteriness in a single quote. In a story reporting how U.S. stock traders were increasingly setting their alarm clocks for the middle of the night, in order to absorb the latest news from Europe as soon as it started to break, one stock analyst, Michael Mayo, complains in a tone of bemused wonder: “Who would have thought we would have to be looking at Italian sovereign debt yields to figure out what Morgan Stanley’s stock will do?”
For those who haven’t been living and dying on every twist and turn of the European financial crisis, some unpacking of that sentence may be in order. Most modern governments routinely auction some form of state-backed bonds or other securities in order to raise cash. If the bond investors aren’t excited about the opportunity — let’s suppose, just for argument’s sake, that they’re afraid the Italian economy is about to collapse — then Italy must offer a higher interest rate, or yield, on those bonds to attract buyers. The higher the yield, the more negative the bond market’s judgment is assumed to be.

But for most of November and December, the health of Italy’s debt sales became not merely a judgment on Italy’s economic health and fiscal stability, but a swiftly translated proxy for investor sentiment about the state of all Europe. If Italy ran into real trouble, so the theory went, France and Germany would soon be swept into the vortex. And a European recession would obviously be bad news for the rest of the world. So one unsuccessful auction in Rome becomes immediate cause for bearish sentiment in New York and Tokyo and Shanghai.

And no one wants to be caught more than one nanosecond out of the loop. If the orders go out to sell or buy, you want to get there first. Since now, more than ever, bad news travels fast, everyone’s got to be quick on the trigger.

It doesn’t seem healthy, but we’re going to have to get used to it. Volatility and vulnerability are built into the infrastructure of our modern world. The jury may still out on the chaos theory question of whether a single butterfly flapping its wings in Botswana can cause a typhoon in the Philippines, but we now know without a shadow of a doubt that the relative success or failure of a troubled European government’s attempt to raise cash can send instant shock waves across financial markets across the globe.

And we know, intimately, that it doesn’t take much to set off a cascade of trouble — after the great global crash of 2008, traders everywhere are in a state of permanent PTSD. Beyond the obvious surface connections between markets — that European recession slowing U.S. economic growth — there are abundant linkages beneath the scenes that are obscure and hard to unravel, interconnections woven by complex derivatives and hedging strategies and computer-driven high-speed trading algorithms that instantly translate woe in one market to panic in another.

The inescapable conclusion: Our modern high-tech markets, in which more money than ever before swirls around the globe in a blink of an eye, are better at transmitting panic and fear than anything heretofore created by humans. If civilization is supposed to imply progress, then something has gone very awry: In the second decade of the 21st century, our infrastructure is increasingly fragile, increasingly prone to disruption. The sword of Damocles hangs above everyone’s head, and the thread that keeps it from falling is fraying perilously thin.

What is perhaps most fascinating about this state of affairs is how it has arisen as a consequence of global capital’s relentless quest for lower operating costs and greater efficiency and flexibility. The better we get at extending supply and production chains across the globe, the more vulnerable those chains become to a disruption at any given point. The faster we enable the transmission of information around the world and through the financial markets, the more volatile those markets become, as every new headline sends a different trading signal.
 If you want to fix this, guess what, according to right-wing conservatives, you're a socialist. If you want a capitalist system, a free market system that does regularly crush the middle and blue collar class, you're a stinking commie. In America we just do not have adult conversations about how to make things better because any talk of making things better, more fair, less catastrophic gets you labeled a communist. Do you hope your kids will live in a fair enlighetned societyand does not have to go through the economic insecurity you have to live with? Forget it. The powers that be have decided that greed is good. The powers that be have decided any attempt to bring back regulations like Glass–Steagall Act to protect average Americans is Marxism on wheels.

Thursday, December 29, 2011

Conservatives Keep Mangling American History - Maybe That is Why Their Agenda is Anti-American


























Conservatives Keep Mangling American History - Maybe That is Why Their Agenda is Anti-American

The mortgage crisis began in 2006 and it’s all President Obama’s fault—at least according to Fox News host Sean Hannity. Hannity recently blamed [1] Obama—“his policies, his economic plan, his fault”—for the mortgage crisis, ignoring who was actually president (that would be George W. Bush) as the housing market slipped [2].

Hannity’s is just one example of the selective memory and historical revision frequently on display in the conservative movement. Right-wing pundits, politicians and pseudo-historians are nibbling away at objective historical truths to rewrite history for present-day purposes, and hardly any topic is off-limits: glorifying the “Reagan Revolution” to children, sugarcoating the Jim Crow South and revising textbooks to offer a favorable view on Phyllis Schlafly—among many others.

Below, read about eight ways in which conservatives try to rewrite, sugarcoat or ignore aspects of American history.

1. Michele Bachmann on the founding fathers and slavery. Propelled to the front of the Republican field after her victory in the Iowa straw poll, Minnesota Representative Michele Bachmann’s historical views are notoriously error-prone. In one her infamous gaffes, she said [3] the founding fathers “work[ed] tirelessly to end slavery” (in fact, George Washington, James Madison and Thomas Jefferson owned slaves) and that John Quincy Adams [4] was a founding father—he was born in 1767.

Bachmann was a research assistant to John Eidsmoe for his 1987 book Christianity and the Constitution: The Faith of our Founding Fathers, in which Eidsmoe wrote, “The church and the state have separate spheres of authority, but both derive authority from God. In that sense America, like [Old Testament] Israel, is a theocracy.”

....................

2. Secession was fine, dandy and legal. Texas Governor and Republican presidential hopeful Rick Perry is fond of pro-secession comments [7]; in 2009, he joked [8] that “we can leave anytime we want. So we’re kind of thinking about that again.”

In his dreams. In fact, these attempts at humor sidestep what secession actually leads to: a nullification crisis, a Civil War, hundreds of thousands of casualties and the federal government as the victor anyway. And secession is illegal. In 1866 the Supreme Court ruled in Texas v. White [9] that Texas’s ordinance of secession was “absolutely null.”

...3. Forgetting September 11? Conservatives have an uncanny ability to misremember when the September 11 attacks occurred. In July, Fox News [12] host Eric Bolling said “we were certainly safe between 2000 and 2008?—?I don’t remember any terrorist attacks on American soil during that period of time.” (In his “apology [13],” he accepted no blame: “Yesterday, I misspoke when saying that there were no US terror attacks during the Bush years. Obviously, I meant in the aftermath of 9/11, but that is when the radical liberal left pounced on us…. thank you liberals for reminding me how petty you can be.”)

A surprising slip came from ex–New York City Mayor Rudy Giuliani. In January 2010 he claimed [14] that “we had no domestic attacks under Bush.”

.....4. Mike Huckabee’s “Learn Our History.” Mike Huckabee’s cartoon history series is whitewashing American history. While claiming to engage children in an easy-to-digest format without “misrepresentations…historical inaccuracies, personal biases and political correctness,” personal biases somehow make an appearance [17]. Each video is produced with consultation from Learn Our History’s “Council of Masters;” one “Master,” Larry Schweikart, is the author of 48 Liberal Lies About American History, including “Lie #45: LBJ’s Great Society Had a Positive Impact on the Poor.”

In a DVD [18] on the “Reagan Revolution,” viewers are invited to “journey to a time when America suffered from financial, international and moral crisis:” Washington, DC, 1977. A knife-wielding African-American man demands “gimme yo’ money!” Ronald Reagan’s arrival—against triumphant music playing and a caption reading “one man transformed the nation…and the world”—changed all that for the better, the DVD suggests.

5. The New Deal did harm. Anti–New Deal views have long reverberated among Republicans. Bachmann [19] blamed FDR for turning a recession into a depression by passing “Hoot-Smalley Tariff” (never mind that it’s Smoot-Hawley and it was passed three years prior to Roosevelt’s inauguration). And a barrage of recent books, including FDR’s Folly, by Jim Powell of the Cato Institute, and Amity Shlaes’s The Forgotten Man, blame FDR and the New Deal for prolonging the Depression. Newt Gingrich has praised [20] The Forgotten Man, with its anti-stimulus message, as a blueprint for a return to “Whig-style free-market liberalism.”

6. David Barton. An amateur-turned-“historian,” Barton is the founder of WallBuilders, a pseudo-historical organization “with an emphasis on the moral, religious, and constitutional foundation on which America was built,” says its website. One of his revisions [21] insists that John Adams claimed that government cannot exist without the Holy Ghost. In his presentations of the subject, Barton misunderstands Adams’s mocking statement about fervent believers in the Holy Ghost as historical truth, omitting succeeding sentences wherein Adams describes those beliefs to be “Artifice and Cunning.”

Barton’s claims about the religious roots of the country have been debunked from academics, even from Christian colleges. John Fea, chair of the history department at Messiah College, wrote [22], “Barton claims to be a historian. He is not. He has just enough historical knowledge, and just enough charisma, to be very dangerous.”

7. Texas Textbook Revisions. Last year the Texas Board of Education revised public school textbooks, expanding [23]discussion of Ronald Reagan at the expense of public figures like Justice Sonia Sotomayor, omitting reference to Thomas Jefferson as an Enlightenment thinker in favor of Protestant leader John Calvin, and offering favorable views [24] on Senator Joseph McCarthy, women’s rights opponent Phyllis Schlafly and the Heritage Foundation.

Many historians opposed [25] the changes—but the board voted along party lines [26] to approve of the revisions. Nearly 5 million Texas students live with the result.

8. Jim Crow wasn’t that bad. Last December, Governor Haley Barbour of Mississippi sugarcoated Jim Crow–era Mississippi, saying [27] of his native Yazoo County, “I just don’t remember it as being that bad,” and, “You heard of the Citizens Councils? Up north they think it was like the KKK. Where I come from it was an organization of town leaders.”

In reality, 1960s Mississippi was 42 percent black, of which only 2 percent were registered to vote, according to the nonprofit African-American Registry [28]. Civil rights activists were murdered [29] and students rioted [30] against integration. “Not bad” indeed! 

The Declaration of Independence and the U.S. Constitution were both based on Liberal political theory. Democracy itself is a liberal concept. As is small-r republicanism. The latter is tricky, trying to find the balance between individual rights and the other extreme where everyone, citing their individual rights, does anything they please. Conservatives plainly do not believe in balance. They believe the financial elite should have all the power and run the country instead of the people.


Saturday, December 24, 2011

The Millionaires Who Act Like Scrooge and Those Who Act Like Patriots



The Millionaires Who Act Like Scrooge and Those Who Act Like Patriots

It's holiday season, and mean-spirited misers abound. GOP legislators have Dickensian plans for the 99 percent, aiming at shredding our social safety nets, undermining our healthcare, and making us pay for the financial crisis created by reckless financiers. Naturally, they decry even a modest income tax surcharge on millionaires, channeling Scrooge-worthy logic to justify their worship of Big Money at the expense of everyone else.

Meanwhile, JPMorgan Chase honcho Jamie Dimon, the highest paid executive among the six biggest and most dangerous banks, whines that he doesn't deserve our ire: "Acting like everyone who's been successful is bad and because you're rich you're bad, I don't understand it," said Dimon, whose 2010 take totaled $23 million.

Let us help you understand it. We don't hate you because you're rich, Mr. Dimon. Americans actually tend to admire people who make lots of money and, say, contribute useful things to society and promote the public good. Witness the recent outpouring of love for Steve Jobs. No, we itch for our pitchforks because you are greedy. You want to horde everything at the top and you refuse to acknowledge that you have any responsibility toward your fellow Americans. In fact, the way you make your money makes you look like a public menace. You dealt in risky derivatives and mortgage schemes that helped tank the global economy. You defrauded your investors. Your bank has even had the gall to foreclose on military families. Back in October, thousands of us stood outside your swank apartment on Park Avenue holding signs and telling you in plain English why your statements that bank regulations are "un-American" and such are both stupid and harmful. But apparently the message didn't get through. I guess we'll have to keep coming back until you do get it.

There are plenty of 1 percenters who support Dimon's view of the world, in which crushing ordinary people in the name of greed is something to be applauded.

But not all. And, like Warren Buffett, whose op-ed "Stop Coddling the Super-Rich" sent shockwaves through the country back in August, they are becoming more and more vocal. Philadelphia lawyer and philanthropist Dan Berger, a member of the Patriotic Millionaires for Fiscal Strength, has been hitting the airwaves and writing for months explaining why current tax policy unfairly favors the rich -- and why that's dangerous for everyone. Berger is concerned about the social pathologies and dysfunction created by the concentration of wealth at the top, and worries that we have unlearned the lessons of the Great Depression -- the last time such concentration devastated the country. "We are in a golden age of the cult of wealth," he warns. "Economic, social, and political life by, of, and for the one percent is an old story in the history of world civilization--one which inevitably ends badly."

Over the last decade, incomes for the richest 1 percent of Americans grew faster than that of any other group. CEO pay has soared 300 percent since 1990, while that of the average worker has risen a paltry 4 percent. If 1 percenters can't be convinced that such disparities are morally wrong, Berger suggests they conjure up some "enlightened self interest" in order to grasp what might happen if society becomes further unbalanced. He sees the Occupy Wall Street movement as the mere "tip of the iceberg."

Billionaire hedge fund manager Jim Chanos has also gone public expressing his support for Occupy Wall Street and his objection to tax policies weighted toward the 1 percent: "I have a problem with private capital asking for lower tax rates on certain forms of income that I believe are income, not returns on capital, than say teachers, soldiers, fireman and policeman.” Chanos explained to AlterNet why 1 percenters who can't see why Americans are angry are seriously out of touch: "They say we live in an 'aspirational society,' but many of those in the 1 percent accuse the Occupy Wall Street movement of class warfare and bemoan the fact that the president dubs them millionaires and billionaires. Well, I'm pretty sure most of the 99 percent would still aspire to be called the same thing!"

The aspirational dreams encoded in our American DNA have been increasingly crushed by policies and practices that channel money toward the top and leave students saddled with debt, workers struggling to support their families and elderly people unable to live in dignity.

We do live in a society that redistributes wealth. Every worker in America makes their contribution towards producing the GDP or Gross National Product. At the end of the day the pie (GDP) is divided up. The top one percent get most of the pie and the crumbs trickle down to everyone else. Conservative Republicans want you to believe that the top deserves it because they produce most of the work. Yep, hard to believe anyone would believe that mountain of BS, but many Americans do, just listen to Anti-American Fox News. They will be glad to tell you that supply-side trickle down economics is good and raising taxes just a little on the top is pure communism.

Monday, December 19, 2011

Should Military Families Trust Mitt Romney. His Foreign Policy has Flip-flopped and he Is Not Sure What a Wise Decision Is




















Should Military Families Trust Mitt Romney. His Foreign Policy has Flip-flopped and he Is Not Sure What a Wise Decision Is

Appearing on Fox News Sunday with Chris Wallace, GOP presidential hopeful Mitt Romney dodged a question about whether or not the U.S. should have invaded Iraq in 2003. Instead of answering the question about knowing what we know now, Romney, who’s flip-flopped between calling the withdrawal of U.S. troops from Iraq “appropriate” and an “astonishing failure,” stood by his support for the war when he knew only what he knew then:

    WALLACE: [L]ooking back, and hindsight is always 20/20, should we have invaded? [...]

    ROMNEY: At that time, we didn’t have the knowledge that we have now. At that time, Saddam Hussein was hiding. He was not letting the inspectors from the United Nations into the various places that they wanted to go. The IAEA [International Atomic Energy Agency] was blocked from going into the palaces and so forth. And the intelligence in our nation and other nations was that this tyrant had weapons of mass destruction.

    And in the light of that — that belief, we took action which was appropriate at the time.


While running for governor of Massachusetts in 2002 at the height of the run-up to the Iraq war, Romney campaigned alongside President George W. Bush. Then-Romney aide and now-adviser Eric Fehrnstrom told reporters: “Al Gore has been a critic to the president’s policies in regard to the war on terrorism, specifically on the plans with regard to Iraq. Mitt’s position is that he supports the president.”

In his 2007 presidential campaign, Romney answered the same question Wallace posed the same way. “I supported the president’s decision based on what we knew at that time,” he said, noting that Hussein had not allowed inspectors in. But, as Media Matters pointed out at the time, by the fall of 2002, U.N. inspectors had entered Iraq and were making progress taking stock of weapons of mass destruction programs.

Today, Romney repeated the false claim that Hussein never allowed inspectors in, adding that “the IAEA was blocked from going into the palaces.” However, in a March 2003 Wall Street Journal op-ed, the head of the U.N. nuclear watchdog wrote: “In the past three months they have conducted over 200 inspections at more than 140 locations, entering without prior notice into Iraqi… presidential palaces.”

Ignoring altogether what the Iraqi government wanted, Romney said the U.S. “should have left 10,000, 20,000, 30,000 personnel there.”

Many Romney advisers pushed for invading Iraq in the early 2000s, and now they’re doing the same with Iran.

Asked by Wallace if, as president, Romney would send troops back to Iraq, the candidate replied, “I think the decision to send U.S. troops into a combat setting is a — is a very high threshold decision. This is not something you do easily.” Perhaps he should apply that principle to his reflections about the initial invasion.

How hard can it be to remember and have a straight up opinion on something his buddy George W. Bush one of the three worse presidents in U.S. history did? Bush kicked out inspectors. Why? Because they were not finding the WMD Bush and the conservative media said were in Iraq. Should U.S. military families put their lives in the hands of someone who wants it both ways - to pretend he doesn't remember important historical facts and also says he is an expert on foriegn policy. Maybe he can see Russia from the balcony at his mansion. 


Thursday, December 15, 2011

The Indefinite Detention Provisions in the NDAA Does Mean U.S. Citizens May be Detained Indefinitely by the Military. Obama Has Withdrawn Veto Threat So There Goes the 4th Amendment




















The Indefinite Detention Provisions in the NDAA Does Mean U.S. Citizens May be Detained Indefinitely by the Military. Obama Has Withdrawn Veto Threat So There Goes the 4th Amendment

Even at this 11th hour – when all of our liberties and freedom are about to go down the drain – many people still don’t understand that the indefinite detention bill passed by Congress allows indefinite detention of Americans on American soil.

The bill is confusing. As Wired noted on December 1st:

    It’s confusing, because two different sections of the bill seem to contradict each other, but in the judgment of the University of Texas’ Robert Chesney — a nonpartisan authority on military detention — “U.S. citizens are included in the grant of detention authority.”

A retired admiral, Judge Advocate General and Dean Emeritus of the University of New Hampshire School of Law also says that it applies to American citizens on American soil.

The ACLU notes:

    Don’t be confused by anyone claiming that the indefinite detention legislation does not apply to American citizens. It does. There is an exemption for American citizens from the mandatory detention requirement (section 1032 of the bill), but no exemption for American citizens from the authorization to use the military to indefinitely detain people without charge or trial (section 1031 of the bill). So, the result is that, under the bill, the military has the power to indefinitely imprison American citizens, but it does not have to use its power unless ordered to do so.

    But you don’t have to believe us. Instead, read what one of the bill’s sponsors, Sen. Lindsey Graham said about it on the Senate floor: “1031, the statement of authority to detain, does apply to American citizens and it designates the world as the battlefield, including the homeland.”

Another sponsor of the bill – Senator Levin – has also repeatedly said that the bill applies to American citizens on American soil, citing the Supreme Court case of Hamdi which ruled that American citizens can be treated as enemy combatants:

    “The Supreme Court has recently ruled there is no bar to the United States holding one of its own citizens as an enemy combatant,” said Levin. “This is the Supreme Court speaking.“

Levin again stressed recently that the bill applies to American citizens, and said that it was president Obama who requested that it do so:

Under questioning from Rand Paul, another co-sponsor – John McCain – said that Americans suspected of terrorism could not only be indefinitely detained, but could be sent to Guantanamo:

U.S. Congressman Justin Amash states in a letter to Congress:

    The Senate’s [bill] does not even distinguish between American citizens and non-citizens, or between persons caught domestically and abroad. The President’s power, in his discretion, to detain persons he determines have supported associated forces applies just as strongly to Americans seized on U.S. soil as it does to foreigners captured on a far away battlefield.

Two retired 4-star generals (Charles C. Krulak and Joseph P. Hoar) write in the New York Times:

    One provision [in the bill] would authorize the military to indefinitely detain without charge people suspected of involvement with terrorism, including United States citizens apprehended on American soil. Due process would be a thing of the past.

Colonel Lawrence Wilkerson – General Colin Powell’s chief of staff – says that the bill is a big step towards tyranny at home.  Congressman Ron Paul says that it will establish martial law in America.
One of the reasons this will pass is that most people are more concerned about their holiday shopping than they are about the Constitution and their rights being trampled. people think the military and the government will not come after them by mistake. It will only happen to the bad guys. Its the government by luck theory of rights.

Thursday, December 8, 2011

America's Crazy Drug War - Why Are Cops Losing Their Jobs for Questioning the Drug War?



































America's Crazy Drug War - Why Are Cops Losing Their Jobs for Questioning the Drug War?

With so much bloodshed, hundreds of thousands incarcerated, and millions of families torn apart, one would have to be blind not to question the failed war on drugs. Given their close proximity to the devastation it has wrought, it’s only natural that the police and Border Patrol officers tasked with executing the drug war for the last four decades would have the strongest views. Yet, around the country, some have been fired for criticizing the drug war as well as supporting drug decriminalization.

On April 13, 2009, 26-year-old Bryan Gonzalez was patrolling the U.S.–Mexican border near Deming, New Mexico, when he pulled up next to fellow agent Shawn Montoya for a break. The two began a casual discussion about the drug-related violence in Mexico, at which point Gonzalez shared his belief that drug legalization would end both the drug war and the cartel violence. When Montoya asked why Mexicans cross the border and steal jobs, Gonzalez responded that Mexicans came to the United States due to a lack of available jobs in Mexico.

Although he was born in the United States, Gonzalez informed Montoya that he had dual U.S.–Mexican citizenship until the age of 18, which gave him a unique understanding and sympathy for the migrants who cross the border. Gonzalez also mentioned Law Enforcement Against Prohibition, or LEAP, an organization of mostly retired law enforcement officials opposed to the drug war.

Little did Gonzalez know that know that voicing his beliefs would cost him his job. According to a lawsuit filed by the ACLU, he was reported to his supervisor, who sent word of the exchange to the Joint Intake Command in Washington, D.C., which launched an investigation into the matter.

In October 2009, after two years as a officer with excellent reviews from his employer, Gonzalez received a letter of termination from the Border Patrol, citing his “personal views that were contrary to the core characteristics of Border Patrol agents, which are patriotism, dedication, and esprit de corps.”

“I was terminated not because my service was inadequate, but because I hold certain opinions that are shared by millions of my fellow Americans,” Gonzalez is quoted as saying in an ACLU press release. “I am no less patriotic or dedicated to excellence in my work because I respectfully disagree with some of our current border enforcement policies. It was wrong for the U.S. Border Patrol to retaliate against me for exercising my free speech rights guaranteed by the very Constitution I swore to uphold.”

Micah McCoy, communications specialist at the American Civil Liberties Union (ACLU) of New Mexico, told AlterNet, “People don’t give up the right to have a political opinion when they put on a uniform of a government agency.” McCoy specified that Gonzalez was not expressing his view as a representative of the border patrol.  “It’s not like he was going on TV and saying all drugs should be legalized. He was having a casual conversation with a coworker that was reported to a supervisor by a third party who wasn’t even present during the conversation. And Bryan subsequently got fired for it.”

In January, the ACLU of New Mexico filed a lawsuit in federal court on behalf of Gonzalez. Meanwhile, the Justice Department is trying to have the case thrown out on behalf of the Border Patrol because Gonzalez has already lost a discrimination complaint filed with the Equal Employment Opportunity Commission, which backed the Border Patrol’s position that Gonzalez could no longer be trusted to uphold the law.

The more disturbing element to this story is that the retaliation against Gonzalez for his critical view of the drug war is not an isolated incident. Several law enforcement officers have faced similar reprisals for questioning the wisdom of U.S. drug policies. 

Its shame that outdated drug law policy cannot even be questioned. Making drugs such as marijuana legal would remove that completely from the costly court and jail system. Making the penalties for other drugs much lower would remove the very element of risk that inflates the costs that gives some pretty awful people motivation to commit more serious violent crime to protect their profits.

Wednesday, November 30, 2011

Freedom is Only For the Elite - Welcome to Republican America Which is Willing To Raise Payroll Taxes On 113 Million Households To Spare 345,000 Millionaires From Tiny Surtax
















Freedom is Only For the Elite - Welcome to Republican America Which is Willing To Raise Payroll Taxes On 113 Million Households To Spare 345,000 Millionaires From Tiny Surtax

Senate Democrats yesterday introduced legislation — as they’ve been promising to — that would extend a soon-to-expire payroll tax cut, and pay for it by implementing a surtax on income above $1 million. Republicans, of course, are opposing the plan, reviving their false claims that taxing the very wealthiest Americans will hit small businesses and job creators.

In essence, the GOP is saying that it’s willing to allow higher taxes on middle- and lower-income Americans in order to prevent tax increases on the very wealthy. According to an analysis by Citizens for Tax Justice, provided to the Washington Post’s Greg Sargent, the surtax would affect exceedingly few taxpayers, while a payroll tax cut expiration would wallop more than 100 million households:

    The surtax would impact around 345,000 taxpayers, roughly 0.2 percent of taxpayers, or one in 500 of them. Those people would pay on average an additional 2.1 percent of their overall income, or just over 1/50th of that overall income, in taxes.

    In a majority of states, only one-tenth of one percent, or one in 1,000 taxpayers, would pay this surtax.

    And how many people would benefit from the payroll tax cut? According to the group, around 113 million tax filing units — either single workers or families that include more than one worker — would see their payroll tax cut extended. That’s a lot of people — well over 113 million workers, in fact.

Allowing the payroll tax cut to expire at the end of the year would hit middle-class families with a $1,000 tax increase, providing a substantial drag on the economy. In fact, according to Macroeconomic Advisers, allowing the payroll tax cut to lapse “would reduce GDP growth by 0.5 percent and cost the economy 400,000 jobs.” Other estimates are even worse, with Barclays’s estimating that a payroll tax increase could say 1.5 percent off of GDP growth.

The GOP has, time and again, blocked any legislation that would increase taxes by the slightest amount on the ultra-wealthy, even with tax revenue at a 60 year low, taxes on the rich the lowest they’ve been in a generation, and income inequality out of control. Instead, Republicans would prefer to raise taxes on the middle-class, knocking the economy where it can least afford it.

Be sure and vote conservative Republican in 2012 so the United States of America can look and operate more like 16th century France. When will conservatives start wearing flowing velvet robes and silk brocaded vests so we can all better distinguish the elite from the common folk.

Rupert Murdoch The Anti-American International Business Mogul and His Fox News:: Student Indoctrination Is OK, But Only If The Teacher's a Proto-Fascist Conservative

Monday, November 28, 2011

Georgia Confederate Republican Loon Bill Looman is an Embarrassment to America

































Georgia Confederate Republican Loon Bill Looman is an Embarrassment to America

A business owner in western Georgia instituted a new company policy recently: “We are not hiring until Obama is gone.”

Bill Looman, who owns U.S. Cranes, LLC in Waco, Georgia, explained that while “I’ve got people that I want to hire now,” he didn’t think he would be able to foot the expense “unless some things change in D.C.”

Not content to simply implement the new policy internally, Looman decided to plaster it on all his company’s trucks. He did so, as 11Alive noted, “for all to see as the trucks roll up and down roads, highways and interstates.” Watch it:

The notion that President Obama’s economic policies preclude small businesses from hiring new workers isn’t the only ludicrous claim Looman pushes. A cursory glance at Looman’s public Facebook page shows he is prone to anti-Obama conspiracy theories. Earlier this month, he posted a false report that Larry Sinclair – the man who claimed he did drugs and had sex with President Obama – had died and implied foul play, writing “MAKES YOU WONDER HUH?” Looman’s page is also riddled with pro-confederate and anti-Muslim postings.

More importantly, Looman’s assertion that he would be able to hire more workers but for Obama’s economic policies defies reason. In the last few months alone, Obama has proposed giving major tax credits to businesses that hire new workers, including a $4,000 credit for hiring the long-term unemployed. Just this week, Obama signed a law to give additional tax credits to businesses that hire veterans.

Ironically, despite the fact that he claims to want to hire new workers, Looman’s anti-Obama anti-hiring stance will prevent his business from enjoying any of these new incentives.

Since taking office President Obama has given small businesses 17 tax cuts. Small businesses in the U.S. now have the lowest tax rate since 1960. That's right, Obama's tax rats are lower than Saint Ronnie Reagan. Looman, a fan of the treasonous Confederacy is doing a lot of people a favor. Who would want to work for this treasonous nut bag who pushes tin-foil wrapped conspiracy theories. 


Wednesday, November 23, 2011

Anti-American Conservative Newt Gingrich Was Pro Health Care Mandate Before He Was Against It



















Gingrich Backs Away From Individual Mandate: ‘I Never Focused On It Much’

In 1993, then-Speaker Newt Gingrich endorsed the concept of a national individual mandate, saying on Meet the Press, “I am for people, individuals — exactly like automobile insurance — individuals having health insurance and being required to have health insurance.” He reiterated the principle in 2007 — writing in a Des Moines Register op-ed, “Personal responsibility extends to the purchase of health insurance. Citizens should not be able to cheat their neighbors by not buying insurance” — and again in 2008: “Finally, we should insist that everyone above a certain level buy coverage (or, if they are opposed to insurance, post a bond).” His for-profit think tank, the Center for Health Transformation (CHT), still promotes the concept on its website, writing, “Anyone who earns more than $50,000 a year must purchase health insurance or post a bond.”

But since the requirement is also included in the Affordable Care Act, presidential candidate Newt Gingrich is against it and believes it to be unconstitutional. During an interview with the Union Leader on Monday, he announced that despite the long public record, he actually “never focused on it much on the federal level”:

    GINGRICH: I never focused on it much on the federal level. I talked about it at the center, at the state level and what we were trying to solve, we just concluded you couldn’t do it, it was too hard…As you work through it, at the time it was designed to block Hillarycare and the more you thought about it, the more you realized, a Congress that can compel you to do something like that, could compel you to do anything. What’s the limit to Congress’ power to dictate your life? And that, I think, will be heart of the argument at the Supreme Court?

The limit is actually fairly clear. The Supreme Court grants the Congress broad deference in regulating the country’s economic activities, so long as the activity is itself economic in nature. And since we all have bodies and they all get old and sick, health care costs are shifted to other payers throughout the country. In 2008, the government spent $43 billion providing uncompensated care to uninsured individuals. In that sense, even the failure to buy a product constitutes an “economic activity.”

For over sixty years conservative leaders such as Gingrich have been lying the Constitution. They say they believe in it literally word for word. While that kind of interpretation is not one the Founders intended - they did not have broadcast airwaves or air travel to regulate back in 1775 for one thing. Conservatives consistently cannot pass their own litmus tests. They decide to believe in whatever screwy point of view and than they find some way to shoe horn in their beliefs into the Constitution. This approach to living in a modern democratic republic is inherently Anti-American.

Saturday, November 19, 2011

Is Mitt Romney Morally Fit to Be President - He refused to help decorated Iraq war veteran become a cop

















Is Mitt Romney Morally Fit to Be President - He refused to help decorated Iraq war veteran become a cop

In an article documenting Mitt Romney's decade-long campaign for the presidency comes this extraordinary profile in political and moral cowardice:

    As Steve LeBlanc of The Associated Press documented in 2007, Romney issued no pardons or commutations while serving as governor, despite some seemingly benign pleas.

    In one of them, Anthony Circosta, a decorated Iraq war veteran, requested a pardon so he could pursue a career as a police officer.

    His background was marred because, as a 13 year old, he was convicted of assault for shooting another boy in the arm with a BB gun.

    The shot that did not break the other child’s skin.

    Nonetheless, Circosta’s plea was among the 100 requests for commutations and 172 requests for pardons that all were denied during Romney’s four years in office.

Apparently, Mitt Romney didn't want to risk having a Mike Dukakis-style Willie Horton issue appear on the campaign trail. Of course, even though Circosta "worked his way through college, joined the Army National Guard, and led a platoon of 20 soldiers in Iraq’s deadly Sunni triangle," Romney refused to help.

When it came to addressing George W. Bush's commutation of Scooter Libby's sentence, Romney defended it, however. So why the sudden shift from Romney? Simple: He was running for office, for Pete's sake. Republican office.

In case you do not remember Scooter Libby lied to protect V.P. Cheney from being prosecuting for exposing the identity f a CIA NOC agent who specilized in Middle-East WMD intelligence. Romney has the same priotites as every wing-nut conservative - party first, America and decency last.

OWS Comes to the Aid of Right-wing Reporter From Daily Caller.


Friday, November 18, 2011

America's Internet Might Become As Bad As China - Stop SOPA








































America's Internet Might Become As Bad As China

China operates the world’s most elaborate and opaque system of Internet censorship. But Congress, under pressure to take action against the theft of intellectual property, is considering misguided legislation that would strengthen China’s Great Firewall and even bring major features of it to America.

The legislation — the Protect IP Act, which has been introduced in the Senate, and a House version known as the Stop Online Piracy Act — have an impressive array of well-financed backers, including the United States Chamber of Commerce, the Motion Picture Association of America, the American Federation of Musicians, the Directors Guild of America, the International Brotherhood of Teamsters and the Screen Actors Guild. The bills aim not to censor political or religious speech as China does, but to protect American intellectual property. Alarm at the infringement of creative works through the Internet is justifiable. The solutions offered by the legislation, however, threaten to inflict collateral damage on democratic discourse and dissent both at home and around the world.

The bills would empower the attorney general to create a blacklist of sites to be blocked by Internet service providers, search engines, payment providers and advertising networks, all without a court hearing or a trial. The House version goes further, allowing private companies to sue service providers for even briefly and unknowingly hosting content that infringes on copyright — a sharp change from current law, which protects the service providers from civil liability if they remove the problematic content immediately upon notification. The intention is not the same as China’s Great Firewall, a nationwide system of Web censorship, but the practical effect could be similar.

Abuses under existing American law serve as troubling predictors for the kinds of abuse by private actors that the House bill would make possible. Take, for example, the cease-and-desist letters that Diebold, a maker of voting machines, sent in 2003, demanding that Internet service providers shut down Web sites that had published internal company e-mails about problems with the company’s voting machines. The letter cited copyright violations, and most of the service providers took down the content without question, despite the strong case to be made that the material was speech protected under the First Amendment.

The House bill would also emulate China’s system of corporate “self-discipline,” making companies liable for users’ actions. The burden would be on the Web site operator to prove that the site was not being used for copyright infringement. The effect on user-generated sites like YouTube would be chilling.

YouTube, Twitter and Facebook have played an important role in political movements from Tahrir Square to Zuccotti Park. At present, social networking services are protected by a “safe harbor” provision of the Digital Millennium Copyright Act, which grants Web sites immunity from prosecution as long as they act in good faith to take down infringing content as soon as rights-holders point it out to them. The House bill would destroy that immunity, putting the onus on YouTube to vet videos in advance or risk legal action. It would put Twitter in a similar position to that of its Chinese cousin, Weibo, which reportedly employs around 1,000 people to monitor and censor user content and keep the company in good standing with authorities.

Compliance with the Stop Online Piracy Act would require huge overhead spending by Internet companies for staff and technologies dedicated to monitoring users and censoring any infringing material from being posted or transmitted. This in turn would create daunting financial burdens and legal risks for start-up companies, making it much harder for brilliant young entrepreneurs with limited resources to create small and innovative Internet companies that empower citizens and change the world.

Adding to the threat to free speech, recent academic research on global Internet censorship has found that in countries where heavy legal liability is imposed on companies, employees tasked with day-to-day censorship jobs have a strong incentive to play it safe and over-censor — even in the case of content whose legality might stand a good chance of holding up in a court of law. Why invite legal hassle when you can just hit “delete”?

The potential for abuse of power through digital networks — upon which we as citizens now depend for nearly everything, including our politics — is one of the most insidious threats to democracy in the Internet age. We live in a time of tremendous political polarization. Public trust in both government and corporations is low, and deservedly so. This is no time for politicians and industry lobbyists in Washington to be devising new Internet censorship mechanisms, adding new opportunities for abuse of corporate and government power over online speech. While American intellectual property deserves protection, that protection must be won and defended in a manner that does not stifle innovation, erode due process under the law, and weaken the protection of political and civil rights on the Internet.

You can contact your senators and representatives directly - through e-mail and fox( check their websites) or there is a petition here.

What caused the financial crisis? The Big Lie goes viral.

Some stand to profit from the status quo: Banks present a systemic risk to the economy, and reducing that risk by lowering their leverage and increasing capital requirements also lowers profitability. Others are hired guns, doing the bidding of bosses on Wall Street.

They all suffer cognitive dissonance — the intellectual crisis that occurs when a failed belief system or philosophy is confronted with proof of its implausibility.

And what about those facts? To be clear, no single issue was the cause. Our economy is a complex and intricate system. What caused the crisis? Look:

Fed Chair Alan Greenspan dropped rates to 1 percent — levels not seen for half a century — and kept them there for an unprecedentedly long period. This caused a spiral in anything priced in dollars (i.e., oil, gold) or credit (i.e., housing) or liquidity driven (i.e., stocks).

Low rates meant asset managers could no longer get decent yields from municipal bonds or Treasurys. Instead, they turned to high-yield mortgage-backed securities. Nearly all of them failed to do adequate due diligence before buying them, did not understand these instruments or the risk involved. They violated one of the most important rules of investing: Know what you own.

Fund managers made this error because they relied on the credit ratings agencies — Moody’s, S&P and Fitch. They had placed an AAA rating on these junk securities, claiming they were as safe as U.S. Treasurys.

• Derivatives had become a uniquely unregulated financial instrument. They are exempt from all oversight, counter-party disclosure, exchange listing requirements, state insurance supervision and, most important, reserve requirements. This allowed AIG to write $3 trillion in derivatives while reserving precisely zero dollars against future claims.

• The Securities and Exchange Commission changed the leverage rules for just five Wall Street banks in 2004. The “Bear Stearns exemption” replaced the 1977 net capitalization rule’s 12-to-1 leverage limit. In its place, it allowed unlimited leverage for Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns. These banks ramped leverage to 20-, 30-, even 40-to-1. Extreme leverage leaves very little room for error.

•Wall Street’s compensation system was skewed toward short-term performance. It gives traders lots of upside and none of the downside. This creates incentives to take excessive risks.

• The demand for higher-yielding paper led Wall Street to begin bundling mortgages. The highest yielding were subprime mortgages. This market was dominated by non-bank originators exempt from most regulations. The Fed could have supervised them, but Greenspan did not.

• These mortgage originators’ lend-to-sell-to-securitizers model had them holding mortgages for a very short period. This allowed them to get creative with underwriting standards, abdicating traditional lending metrics such as income, credit rating, debt-service history and loan-to-value.

• “Innovative” mortgage products were developed to reach more subprime borrowers. These include 2/28 adjustable-rate mortgages, interest-only loans, piggy-bank mortgages (simultaneous underlying mortgage and home-equity lines) and the notorious negative amortization loans (borrower’s indebtedness goes up each month). These mortgages defaulted in vastly disproportionate numbers to traditional 30-year fixed mortgages.

To keep up with these newfangled originators, traditional banks developed automated underwriting systems. The software was gamed by employees paid on loan volume, not quality.

The people blaming government, Fannie May and whatever boogieman are just plain old gutless liars.

Thursday, November 17, 2011

What Caused the Financial Crisis? Or What Some Call The Great Recession


































What Caused the Financial Crisis? Or What Some Call The Great Recession

One group has been especially vocal about shaping a new narrative of the credit crisis and economic collapse: those whose bad judgment and failed philosophy helped cause the crisis.

Rather than admit the error of their ways — Repent! — these people are engaged in an active campaign to rewrite history. They are not, of course, exonerated in doing so. And beyond that, they damage the process of repairing what was broken. They muddy the waters when it comes to holding guilty parties responsible. They prevent measures from being put into place to prevent another crisis.

Here is the surprising takeaway: They are winning. Thanks to the endless repetition of the Big Lie.

A Big Lie is so colossal that no one would believe that someone could have the impudence to distort the truth so infamously. There are many examples: Claims that Earth is not warming, or that evolution is not the best thesis we have for how humans developed. Those opposed to stimulus spending have gone so far as to claim that the infrastructure of the United States is just fine, Grade A (not D, as the we discussed last month), and needs little repair.

Wall Street has its own version: Its Big Lie is that banks and investment houses are merely victims of the crash. You see, the entire boom and bust was caused by misguided government policies. It was not irresponsible lending or derivative or excess leverage or misguided compensation packages, but rather long-standing housing policies that were at fault.

Indeed, the arguments these folks make fail to withstand even casual scrutiny. But that has not stopped people who should know better from repeating them.

The Big Lie made a surprise appearance Tuesday when New York Mayor Michael Bloomberg, responding to a question about Occupy Wall Street, stunned observers by exonerating Wall Street: “It was not the banks that created the mortgage crisis. It was, plain and simple, Congress who forced everybody to go and give mortgages to people who were on the cusp.”

What made his comments so stunning is that he built Bloomberg Data Services on the notion that data are what matter most to investors. The terminals are found on nearly 400,000 trading desks around the world, at a cost of $1,500 a month. (Do the math — that’s over half a billion dollars a month.) Perhaps the fact that Wall Street was the source of his vast wealth biased him. But the key principle of the business that made the mayor a billionaire is that fund managers, economists, researchers and traders should ignore the squishy narrative and, instead, focus on facts. Yet he ignored his own principles to repeat statements he should have known were false.

Why are people trying to rewrite the history of the crisis? Some are simply trying to save face. Interest groups who advocate for deregulation of the finance sector would prefer that deregulation not receive any blame for the crisis.

Some stand to profit from the status quo: Banks present a systemic risk to the economy, and reducing that risk by lowering their leverage and increasing capital requirements also lowers profitability. Others are hired guns, doing the bidding of bosses on Wall Street.

They all suffer cognitive dissonance — the intellectual crisis that occurs when a failed belief system or philosophy is confronted with proof of its implausibility.

And what about those facts? To be clear, no single issue was the cause. Our economy is a complex and intricate system. What caused the crisis? Look:

*Fed Chair Alan Greenspan dropped rates to 1 percent — levels not seen for half a century — and kept them there for an unprecedentedly long period. This caused a spiral in anything priced in dollars (i.e., oil, gold) or credit (i.e., housing) or liquidity driven (i.e., stocks).

*Low rates meant asset managers could no longer get decent yields from municipal bonds or Treasurys. Instead, they turned to high-yield mortgage-backed securities. Nearly all of them failed to do adequate due diligence before buying them, did not understand these instruments or the risk involved. They violated one of the most important rules of investing: Know what you own.

*Fund managers made this error because they relied on the credit ratings agencies — Moody’s, S&P and Fitch. They had placed an AAA rating on these junk securities, claiming they were as safe as U.S. Treasurys.

• Derivatives had become a uniquely unregulated financial instrument. They are exempt from all oversight, counter-party disclosure, exchange listing requirements, state insurance supervision and, most important, reserve requirements. This allowed AIG to write $3 trillion in derivatives while reserving precisely zero dollars against future claims.

• The Securities and Exchange Commission changed the leverage rules for just five Wall Street banks in 2004. The “Bear Stearns exemption” replaced the 1977 net capitalization rule’s 12-to-1 leverage limit. In its place, it allowed unlimited leverage for Goldman Sachs, Morgan Stanley, Merrill Lynch, Lehman Brothers and Bear Stearns. These banks ramped leverage to 20-, 30-, even 40-to-1. Extreme leverage leaves very little room for error.

•Wall Street’s compensation system was skewed toward short-term performance. It gives traders lots of upside and none of the downside. This creates incentives to take excessive risks.

• The demand for higher-yielding paper led Wall Street to begin bundling mortgages. The highest yielding were subprime mortgages. This market was dominated by non-bank originators exempt from most regulations. The Fed could have supervised them, but Greenspan did not.

• These mortgage originators’ lend-to-sell-to-securitizers model had them holding mortgages for a very short period. This allowed them to get creative with underwriting standards, abdicating traditional lending metrics such as income, credit rating, debt-service history and loan-to-value.

• “Innovative” mortgage products were developed to reach more subprime borrowers. These include 2/28 adjustable-rate mortgages, interest-only loans, piggy-bank mortgages (simultaneous underlying mortgage and home-equity lines) and the notorious negative amortization loans (borrower’s indebtedness goes up each month). These mortgages defaulted in vastly disproportionate numbers to traditional 30-year fixed mortgages.

*To keep up with these newfangled originators, traditional banks developed automated underwriting systems. The software was gamed by employees paid on loan volume, not quality.

*Glass-Steagall legislation, which kept Wall Street and Main Street banks walled off from each other, was repealed in 1998. This allowed FDIC-insured banks, whose deposits were guaranteed by the government, to engage in highly risky business. It also allowed the banks to bulk up, becoming bigger, more complex and unwieldy.

*Many states had anti-predatory lending laws on their books (along with lower defaults and foreclosure rates). In 2004, the Office of the Comptroller of the Currency federally preempted state laws regulating mortgage credit and national banks. Following this change, national lenders sold increasingly risky loan products in those states. Shortly after, their default and foreclosure rates skyrocketed.

Bloomberg was partially correct: Congress did radically deregulate the financial sector, doing away with many of the protections that had worked for decades. Congress allowed Wall Street to self-regulate, and the Fed the turned a blind eye to bank abuses.

The previous Big Lie — the discredited belief that free markets require no adult supervision — is the reason people have created a new false narrative.
All the right-wing conservative Anti-American presidential candidates have done their part in telling the Big Lie. They seem to anyone - working class Americans, minorities, government, liberalism. The truth hurts. The free market is great when it workers. It only works when properly regulated. That's not communism or fascism or any other ism, its common sense and an honest history of the greed that always kicks in when regulations are too lax or not enforced.

Wednesday, November 16, 2011

America Hater Newt Gingrich Has Ethics. They Just Happen to Be Abominable
























America Hater Newt Gingrich Has Ethics. They Just Happen to Be Abominable

The GOP presidential primary is a lot like a kindergarten t-ball game: When it comes to being in first place, just about everybody gets a turn. And now, congratulations, Newt Gingrich: It’s your turn!

Steve Kornacki wrote about the Public Policy Polling survey that found Gingrich is following in the footsteps of Donald Trump, Michele Bachmann, Rick Perry and Herman Cain as the Republican flavor of the week. Gingrich benefits from three things: A lot of Republicans can’t stand Mitt Romney, Cain and Perry have shamed themselves in public, and by contrast, he’s had no bad debates. So far he’s come off as smart and affable, trying to rally his rivals against the big, bad media that’s trying to get them to fight.

Since Gingrich has mostly been in single digits, far back in the polls, his rivals have humored him and ignored his liabilities. That’s about to change, and Gingrich, like Perry, Cain and Michele Bachmann before him, will likewise wither under the hot sun of political scrutiny. The seemingly affable professor and author is a hothead with many political liabilities and almost as many enemies. He’s committed so many political and ethical transgressions that his baggage has baggage.

Gingrich is probably best known for serving his wife with divorce papers while she was recovering from cancer surgery, so he could marry his mistress, whom he later divorced to marry a staffer. But he’s also probably the only politician, who when you’re asked “What’s the worst thing he’s done?” has done a lot of things that rival leaving his cancer-stricken wife for his mistress. For most people in the world, in fact, that would be the hands-down worst act ever; for Gingrich, it’s just not that clear-cut (h/t Jamie Kilstein).

For instance, he’s the only House speaker in American history to be disciplined by Congress for ethics violations.  In 1998, he paid a $300,000 fine after he was found to have been misusing his tax-exempt foundations for political gain.

OK, those have to be the two worst things, dumping his wife who had cancer for his mistress, and congressional ethics sanctions, right?

But wait, but there’s more:

    Shutting down the government in 1995 at least partly because President Clinton allegedly snubbed him by seating him in the rear of Air Force One on a flight home from Yitzhak Rabin’s funeral. No, really, he told reporters the “snub” was “part of why you ended up with us sending down a tougher continuing resolution.”
    Advocating that the children of welfare recipients be taken away from their parents and raised in orphanages.
    Leading the drive to impeach Clinton over lying about adultery when he was himself lying about adultery, cheating on his wife with a staffer, Callista Bisek, who became his third wife.
    Insisting President Obama suffers from “a Kenyan anti-colonial mindset” like his Kenyan father, even though he barely knew his Kenyan father.
    Denouncing Paul Ryan’s radical budget (that was actually smart) as “right-wing social engineering,” then flip-flopping and warning that “any ad which quotes what I said Sunday is a falsehood.”
    Railing against Obama’s alleged “class warfare” when he’s run up a $500,000 tab at Tiffany’s.
But my all-time favorite Newt Gingrich “worst” was the time he blamed the horrendous case of Susan Smith, the South Carolina mother( a Republican who was having an affair with her Republican father-in-law) who murdered her young sons in 1994, on Democrats. Smith, you’ll recall, first blamed her son’s drowning deaths on a black man who supposedly car-jacked her, but it turned out, she did it herself. Just before the 1994 election, in which his party swept back into power, Gingrich said:

     I think that the mother killing the two children in South Carolina vividly reminds every American how sick the society is getting and how much we need to change things. The only way you get change is to vote Republican. That’s the message for the last three days.

Two days later, Gingrich defended his comments by insisting he’d been saying the same thing for years: that Democratic rule had frayed the moral fabric of the country: “We need very deep change if we’re going to turn this country around.” Asked directly if he was saying electing Republicans could stop killings like Smith’s, he said flatly: “Yes. In my judgment, there’s no question.”

He later blamed the Columbine and Virginia Tech killings on liberals, too.

America has never been perfect, but its "moral" fabric has always been in most danger by conservatism. Conservatism - forget the names of the political parties Republicans and Democrats, liberals and conservatives were in both parties until the 1980s - has always been the biggest threat to America. Conservatism by its very nature is anti-American. Conservatism as a movement has more in common with the ultra-nationalism of the Japanese leading up to WW II. Gingrich fits in perfectly. he believes in a dog-eat-dog culture and economy. He believes America should be ruled by the elite and voting rights given only to those who believe in the far Right agenda.


Scott Walker recall, Day 1, by the numbers and you can download a Walker recall form here. Beware of false recalls conservative nuts who will throw your recall petition in the trash.