Blog on the Run: Reloaded

Sunday, January 24, 2010 12:08 am

Odds and ends for 1/23

Insider trading at the Fed?: Or tied to the Fed, anyway. Yet one more reason to audit the thing, and I don’t mean just routine annual audits, either.

Meanwhile, over at the New York Stock Exchange, one can also find hinky goings-on.

Prop-trading ban will hit Goldman Sachs a lot harder than Goldman says, according to an independent credit analyst. In the immortal words of Al Capone, I’ll send flowers. If you own Goldman stock, you should consider the strong probability that you’re being lied to.

Roundup of stories on the prop-trading ban and related issues, here.

Whose Kiss of Death is deadlier, Fred Mishkin’s or Alan Greenspan’s? I don’t care as long as at least one of the two works as advertised and Ben Bernanke slithers back off to the private sector.

So if Bernanke doesn’t stay as Fed chair, who should get the job? Zero Hedge nominates John Taylor, whose thoughts on the roots of the current crisis can be found here. I do not agree with everything Taylor believes, but I believe that on balance he would be a substantial improvement on Bernanke. I’d like to know whether someone else might be even better.

Paul Volcker’s rise from exile to the president’s right hand helpfully resurrects a short (well, compared with Barney Frank’s 1,100-page bill) paper on restoring security and stability to the U.S. financial system.

Rx from Ezra Klein: “If Democrats abandon health-care reform in the aftermath of Brown’s victory, the lesson will be that they can’t govern. … A plumber and I both agree that my toilet should work. But if he can’t make it work, I’m not going to pay him any money or invite him into my home. Governance isn’t just about ideology. It’s also about competence and will. That’s where Democrats are flagging.”

Another Rx: The California Supreme Court ruled this week that people with prescriptions for medical marijuana can have/grow all they need, not subject to arbitrary state limits. Yeah, that increases the likelihood of abuse, but there was no medical basis for the old limits. Let doctors make that call.

My BS meter just pegged: The same Lord Hutton who certified, despite questionable evidence, that British weapons inspector David Kelly committed suicide has ordered all records in the case sealed for 70 years.

My BS meter just pegged again: Walter Isaacson reviews the new book by John Yoo in today’s NY Times without ever using the word “torture.”

S.C. Lt. Gov. Andre Bauer says we need to stop feeding poor people because they breed: I am not making this up: “You’re facilitating the problem if you give an animal or a person ample food supply. They will reproduce, especially ones that don’t think too much further than that. And so what you’ve got to do is you’ve got to curtail that type of behavior.” He also called for drug testing for the parents of the 58 percent of S.C. schoolkids who receive free or reduced-price lunch. I think I know who needs the drug test.

Obama adopts another trick from the Bush bag: This time, it’s having the Justice Department’s Office of Legal Counsel retroactively legalize illegal surveillance. So that’s why the Senate never took up Dawn Johnsen‘s confirmation as head of OLC: There’s no way she’d have signed off on this crap.

The pope says priests should blog. I think that’s a great idea, but I think they’ve got other things to do first.

And finally, DJ Earworm’s annual remix of the Billboard magazine Top 25 pop songs of the year, for 2009. This year’s is called “Blame it on the Pop”:

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Monday, December 14, 2009 10:02 pm

Odds and ends for 12/14

Kabuki: President Obama talked tough to the bankers today, but don’t be misled: If he 1) knew what he was doing and 2) were serious about it, a lot of the executives he’s talking to would have been jobless by now and the U.S. taxpayer would be substantially better off.

Heck of a job, Bushie: The Bush administration’s birth-control policies helped fuel a population boom in Africa, which also means a poverty boom. Nice.

Tony Blair: We were gonna remove Saddam, and if he didn’t have WMDs, then we’d come up with some other reason. No, that’s actually pretty much what he said. If we don’t put these people in prison, our grandchildren are going to be calling us “good Germans.”

Rumsfeld, 10 military officials skate on torture liability: The Supreme Court declined today to hear an appeal of an appeals-court ruling that former Defense Secretary Donald Rumsfeld and 10 military officials are immune from civil claims of torture filed by four now-released Guantanamo prisoners from Britain. Even the normally reliable SCOTUSBlog hasn’t elaborated on this ruling, so I’m not sure what it means, but any time the word “immunity” appears close to Rumsfeld’s name, my gorge rises. (So, yeah, in case you’re wondering, I’ve spent the last five years throwing up in my mouth a little bit.)

“The bill is a hodgepodge. And it should be.”: Physician/journalist Atul Gawande, author of this groundbreaking article on why medical costs are rising so fast, says there’s actually a century-old historical precedent for measures in the health-care reform bill to improve efficiency, and a successful precedent at that: agriculture. It’s an unexpectedly optimistic piece. Check it out.

Burn in hell, Joe Lieberman: Ezra Klein says it best: “At this point, Lieberman seems primarily motivated by torturing liberals. That is to say, he seems willing to cause the deaths of hundreds of thousands of people in order to settle an old electoral score.”

“You have toyed with me for the last time!”: Fully a third of Democratic voters say they’ll be less likely to turn out in 2010 if Congress doesn’t pass a public option. Also, 81% say Joe Lieberman should be punished if he filibusters health-care reform. I think Lieberman should be punished in any event, just for being an ass.

Not so fast with that cover-up, there, mate: Also related to the Iraq invasion, six top physicians in Britain have launched legal action to have the purported suicide of government bioweapons expert Dr. David Kelly re-investigated. Kelly died in 2003, supposedly a suicide, just days after he was exposed as the source of a news report that a dossier of evidence regarding Iraq’s WMD program had been “sexed up” to justify invading Iraq. The physicians credibly claim that the investigation was, in technical terms, screwed six ways to Sunday.

Not so fast, the sequel: The Russian Supreme Court has overturned the acquittals of four suspects in the 2006 slaying of journalist Anna Politkovskaya. All four were accused of being accomplices. The actual triggerman, who evidence in the trial said was paid $2 million, is believed to be still at large. (Earlier.)

What’s going on in southern Russia? In August, 20 people died in a suicide bombing, described in Russian news reports as the latest in a series of attacks in the republic of Ingushetia. Then early today in that same area, a large bomb on an above-ground natural-gas pipeline was defused. Insights, anyone?

Ho-ho-home: Authors Stephen and Tabitha King are paying $12,999* so that 150 members of the Maine National Guard, currently in training in Indiana before shipping out to Afghanistan in January, can come home for the holidays. Glad they’re getting to go home. Wish they didn’t have to go overseas.

*Because he thought $13,000 was an unlucky number. One of King’s personal assistants kicked in the remaining buck.

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