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”:

Tuesday, December 15, 2009 10:50 pm

Odds and ends for 12/15

A way to balance the budget?: For the second straight month, the U.S. Treasury auctioned 1-month T-bills at 0.0% interest. The national budget gets significantly smaller if you whack out interest on the national debt, y’know.

All I want for Christmas is a repeal of Gramm-Leach-Bliley.

BOHICA: As part of “paying off” its multi-billion-dollar loan from the taxpayers, technically insolvent bank holding company Citigroup gets to keep $38 billion in tax credits that regulations normally would require it to give up. That figure will easily overshadow any profit the taxpayers may get from selling Citigroup shares. Merry. Freaking. Christmas.

But maybe Christmas is coming early; or, Who are you and what have you done with Sen. Jim Bunning?: Remember those 15 questions that the Cunning Realist suggested should be asked of Fed Chairman Ben Bernanke during his reconfirmation hearings? Unbelievably, a senator asked them. Even more unbelievably, the senator in question was Jim Bunning, heretofore a leading candidate for the title of Biggest Waste of Carbon in the U.S. Capitol.

You may now kiss the D.C. City Council: The District of Columbia has legalized gay marriage. Congress, per the Constitution, gets 30 legislative days to review the law once D.C.’s mayor has signed it, but the Democratic leadership will keep that puppy bottled up until the deadline has safely passed.

No room to talk: Panthers defensive backs Chris Harris and Chris Gamble need to STFU about Patriots WR Randy Moss. While they are having good years, and they did shut Moss down on Sunday, they apparently chose to ignore Wes Welker’s presence on the field. And what really matters is that yet again, the Panthers have failed to achieve consecutive winning seasons, while the Pats almost certainly are going to the playoffs.

Wardrobe police: Is Roy Williams gonna have me thrown out of North Carolina for wearing a Panthers jersey in Chapel Hill?

Shorter Janet Tavakoli: Except for Paul Volcker, the bankers don’t get it.

Brother can you spare your Visa card?: The Miami Herald, which recently laid off 199 people, is now attaching to each article a link through which people can contribute money online … to the paper, not the laid-off employees. The last time I can remember anything like this happening was when I was a kid and Ted Turner went on the air in Charlotte to ask people to send him money to keep Channel 36 on the air. (Yes, that’s Turner Broadcasting’s Ted Turner, and, yes, he repaid it.)

CBS Sports: “If any of our announcers talk about Tiger Woods, we’ll shoot this dog fire them.”

Best banking idea I’ve heard in a while: If Barney Frank has his way, only retail banks will be able to borrow from the discount window. At worst, this gets some banksters off the federal teat. It may even significantly ease the current credit crunch.

Quote of the day: “You’re either part of the solution or you’re a tool of ACORN.” — Conservative Brown, Boy Detective, by Tom Tomorrow.

Smarter Washington Post, please: The Post publishes a bunch of contextually challenged nonsense regarding the national debt. Economist Dean Baker rips them a new one. Yes, the national debt is too high and rising, but the bigger and more urgent problem is joblessness. The Post wants to scrap Social Security and Medicare but just doesn’t have the stones to say so.

Smarter Washington Post, please, cont.: Charles Lane criticizes colleague Ezra Klein’s criticism of Joe Lieberman … while also conceding that Klein’s factual claim is correct. Idiot. All you need to know about Lane is that he was Stephen Glass‘s editor. All you need to know about Klein is that Joe Lieberman finds him bothersome. (But here’s useful background on the contretemps.) Also, I posted the one-word comment “FAIL” on Lane’s blog post earlier; as of 10:30 p.m., it had been deleted, which fact I shortly thereafter commented upon. We’ll see if the 2nd comment stays up.

Smarter judges, please: U.S. District Judge William Duffey tells two Muslim defendants at a sentencing, “I’ll say this, our Gods are very different.” Uh, no, infidel; Christians and Muslims worship the same God.

If you like what Joe Lieberman is doing to health-care reform, wait’ll you see what he has planned for Social Security and Medicare.

Terminated; or, Cue the Limbaugh smears in 3 … 2… 1 …: Arnold Schwarzenegger throws Sarah Palin under the (hybrid?) bus.

Jerome “Swiftboat” Corsi asks,”Could it be that President Obama intends to bankrupt the USA in order to destroy free-enterprise capitalism itself?” Sounds like fun! Let’s play! Could it be that Jerome Corsi is a paranoid psychotic? Could it be that Jerome Corsi wouldn’t recognize the destruction of free-enterprise capitalism THAT’S NOW GOING ON, LED BY INVESTMENT BANKS, if it bit him in the ass? Could it be that Jerome Corsi has a financial motivation to misrepresent what the president is trying to do? Hey, this is fun! I could do this all day!

Paying for your wars: The Greatest Generation, so revered by conservatives, had no problem with this concept; indeed, they inculcated it in their children. So why do today’s Congressional leaders have such a problem?

Why is private health insurance such a bad idea? Let me the Main Street Alliance draw you a picture:

Back from the dead and ready to incriminate?: Some 22 million White House e-mails from the first Bush 43 administration have been “found,” four years and change after they “went missing.” In a perfect world, Karl Rove will be going to prison as a result for having 1) outed undercover CIA agent Valerie Plame and 2) obstructed a criminal investigation into the outing thereof. In the world we live in, we’ll probably find out that the missing $12 trillion in U.S. wealth, much of it sucked out of the home values and retirement savings of the middle class, is now in some Nigerian barrister’s bank account.

Math: About fifteen times as many people die in the U.S. every year as a result of lack of health insurance as died in the 9/11 terror attacks.

No methaqualone for you, says the Methaqualone Nazi!: The new Republican Party-sponsored Web-link shortener, GOP.am, includes this in its terms of use: “If you use it for spamming, illegal purposes or to promote lude content, your GOP.AM URL will be disabled.” Earlier, bloggers and commenters for Balloon Juice were using the site to provide links to bondage sites. Hee.

Tuesday, November 24, 2009 10:21 pm

Odds and ends for 11/24

  • Memo to college football’s Bowl Championship Series: Hiring Ari Fleischer to improve your image is like hiring Jenna Jameson to be the spokesbabe for abstinence.
  • Just a few questions for the global-warming deniers who claim the recent hacked scientist e-mails prove global warming is a hoax: “Which studies were compromised, how? Be specific. Cite papers and data sets. What is the evidence? Where is it? What work is affected? How? Show me the evidence that says so. This supposed scandal involves perhaps a half dozen people; how does it affect the work of the 3,000+ others whose work makes up climate science? How does it affect the work that was done before the alleged culprits graduated from university? The work from before they were born? Of the 30,000(ish) studies that make up climate science, which ones are undone? Where is the evidence? Be specific … show us exactly how and why?”
  • BONUS: Newtongate: the final nail in the coffin of Renaissance and Enlightenment ‘thinking’
  • And relatedly: “The number of Americans who believe global warming is occurring has declined to its lowest since 1997, though at 72 percent, it’s still a broad majority. The drop has steepened in the last year-and-a-half — almost exclusively among conservatives and Republicans.” And this Republican invites you deniers to just go right on fooling yourselves.
  • Did I see that right in the paper this morning — that Detroit’s 80,000-or-so-seat Silverdome was sold for $583,000? Yup. I saw that right. Wow. There are more expensive houses within two miles of mine. The thing cost $55.7 million ($222.7 million in 2008 dollars) to build back in the 1970s. I don’t think Detroit real estate can go much lower.
  • Robert Reich, in a nutshell, on what’s wrong with health-care reform without a real public option: “Our private, for-profit health insurance system, designed to fatten the profits of private health insurers and Big Pharma, is about to be turned over to … our private, for-profit health care system. Except that now private health insurers and Big Pharma will be getting some 30 million additional customers, paid for by the rest of us.”
  • Your stupid: Let me show you it: A Democratic Senate aide suggests that people who favor a public option are being “stupid” by criticizing Democratic senators who don’t. With support for a public option at 72%, BuggyQ at First Draft explains who’s really being stupid.
  • Your stupid: Let me show you it, The Sequel: Ezra Klein points out a basic flaw in the argument that the health-care reform bill will increase the deficit so we shouldn’t pass it: “I’m confused by the budget hawks who that take the line: ‘This bill needs to cut the deficit, and I don’t believe Democrats will cut the deficit, but since the actual provisions of the bill unambiguously cut the deficit, then I guess Congress won’t stick to it.’ People who want to cut the deficit should support this bill, and support its implementation. The alternative is no bill that cuts the deficit, and thus no hope of cutting the deficit.(Emphasis added for the C students out there.)
  • Asked and answered; or, Your stupid: Let me show you it, Reloaded: Michele Bachmann, the batsh*t insane congresscritter from Minnesota, asked the other day why Democrats didn’t support her. Because she seemed genuinely puzzled, the kids at TPM put together a photo essay.
  • Strange: I don’t know what’s stranger — that Lincoln, Nebraska, is the second-strangest city in the country or that Nawlins didn’t even make the top 75. (Raleigh was #34, not all that far behind LA at #28; Florida was the strangest state, which will surprise no one who has ever read Carl Hiaasen; and N.C. came in 48th out of the 50 states plus D.C.)
  • Stranger: If Santa got drunk and started Twittering, the results might look like this.
  • I’ve got your newspaper war right here. (Photo NSFW) As my friend Jon Lowder, who tipped me to this, said, “Somehow I don’t see this kind of action breaking out in the heated battle between the N&R and the W-S Journal, but we can dream.”

In fact, I think that’s what I’m going to go do right now. I may or may not blog again anytime soon this weekend, so if I don’t, Happy Thanksgiving to all.


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