Blog on the Run: Reloaded

Thursday, December 17, 2009 11:36 pm

Odds and ends for 12/17

All your drones are belong to us: A readily available, $26 piece of software has allowed Iraqi insurgents to intercept video from U.S. Predator drones. The government has known about this flaw since the weapons’ use in the Balkans in the 1990s but never did anything about it because it “assumed local adversaries wouldn’t know how to exploit it.” As Attackerman (h/t) comments, “Arrogance like this gets people killed.”

All our money are belong to the devil, so send us yours: Televangelist Rod Parsley’s Web site sets a Dec. 31 deadline for contributions and urges, “Will you help take back what the devil stole?” The ministry is in financial trouble primarily because it had to pay a $3.1 million judgment to the parents of a 2-year-old whom a teacher at the ministry severely beat.

Bill Gates sez, “Go ahead, make my day tax my estate!”: The Microsoft founder says we shouldn’t let the estate tax expire. I agree with him. Raise the cap, sure. Index for inflation, of course. But scrap? Nuh-uh.

Relatedly, if you have both money and heirs (Hi, Mom!), you might not sleep very well next year.

Wall Street is killing health care: That’s what taking your company public will do. (Previously.) Just ask the newspaper industry.

Odd couple: Sens. John McCain and Maria Cantwell have jointly introduced legislation to reimpose Glass-Steagall standards on banks. Comments HuffPo’s Jason Linkins: “Give McCain and Cantwell a big round of applause for their effort, because in Washington, this seemingly obvious response to the financial crisis is considered the domain of wild-eyed hippies (and Paul Volcker).”

Which raises a damn good question: Why, in Washington, has the obvious become the domain only of wild-eyed hippies and Paul Volcker, and not of the “serious” politicians/bureaucrats/journalists?

Worthwhile related point: Byron Dorgan warned us at the time that within 10 years we’d be sorry we repealed Glass-Steagall. BZZZT! Wrong! We were sorry within nine years.

Speaking of banksters, looks like Ben Bernanke is going to get reconfirmed. Which would be fine if, like a large majority of the American public, he gave the first damn about putting people back to work. But he doesn’t. Memo to Congressional Democrats: You can steal this issue from the Tea Party, or you can let the Tea Party steal your Congressional seats from you. Your call.

On the bright side, for Democrats and the jobless: A $154 billion economic-stimulus bill passed the House … without a single Republican vote. I’m a longtime deficit hawk, but part of the reason that I am is that I understand that there are times when only fiscal policy can jump-start the economy. So you have to balance the budget or run a surplus in good times to be in position to spend in bad times. And as I’ve said before, the biggest problem of the earlier stimulus package was that even at $787 billion, it was only about half as big as it needed to be (second biggest problem was it relied too heavily on tax cuts, not enough on direct spending).

Here are three more questions to be asked about health-care reform, based on public pledges Obama has made in the past. No one who wanted reform in any form or fashion is going to like the answers. Actually, this piece was so good that I’m going to deviate from standard Odds & Ends formatting and quote from it at some length:

I’ll be evaluating the bill according to three principles:

1. When this plan goes into effect, will it bring an end to the battles that health insurance consumers must wage to retain their coverage, or will the practice of rescission continue?

2. When this plan goes into effect, will it bring an end to the long-term, intractable debt that millions of hard-working Americans incur, simply because they get sick, get injured and grow old?

3. When this bill is signed into law, will Obama truly be in the position to say he’ll be the last president to “take up the cause,” or will it be obvious that we’ve only kicked the can down the road, and that more needs to be done?

In truth, the way I see things shaping up, I don’t believe that the eventual reform legislation will achieve any of these things. At the same time, I think that if it makes it to Obama’s desk, he’s going to sign it. But, pursuant to the cause of Not Kidding Ourselves, he’d better not call it a victory.

Sounds about right.

Is the Senate health-care bill comparable to the (successful) Dutch health-care system?: No, not really.

Republicans are crawling back toward sanity: Yesterday, Laura Ingraham was likening health-care reform to the Holocaust. Today, Miss. Gov. Haley Barbour is saying it’s only as bad as Jonestown. Whew. I was really afraid they were going off the deep end.


Advertisements

Friday, November 13, 2009 8:49 pm

Odds and ends, Nov. 13

  • Typing Under Ladders: Today’s Friday the 13th. I have exactly no interesting Friday-the-13th stories to tell. To the extent that I can remember the dates at all, two of the unluckiest days of my life, one involving romantic failure and one involving serious physical injury, occurred on the 4th of a month.
  • Home Game: Khalid Sheikh Muhammad and four other accused planners of the 9/11 terror attacks will be tried in civilian federal court in New York, just blocks from Ground Zero. The wingnuts are soiling their drawers at the thought of terrorists (accused, but still) on U.S. soil. Me? I think the U.S. court system can handle the case and that the FBI and NYPD are more than up to handling the security. This ain’t, in other words, an issue over which I’m going to lose any sleep. Nor should you.
  • Bloviation By Other Means: I watched CNN’s Lou Dobbs only enough to determine that he was a pompous, phony ass upon whom none of my time should be wasted, and so I don’t care that he left CNN except that I think he’s planning to run for president. Or for governor of Alaska. Whichever.
  • Nice Guys: Married women who learn they have a serious illness are seven times as likely as married men to end up separated or divorced.
  • Back from the Dead: Under the guise of deficit reduction, the rich are coming after your Social Security again. Don’t let them get away with it.
  • Undessicated after all: You remember when we rammed our manly missile into the moon a few weeks ago? Turns out the moon was wet. All innuendo aside, while this doesn’t throw everything we thought we knew about the moon up for grabs, it changes quite a lot, including the consensus on whether there ever might have been life on the moon. Cool.
  • Double Standard: If pro-choice women are considered immoral for threatening to oppose any health-care reform that bans spending federal money on abortion, what does that make the Roman Catholic Church?
  • Delay, Deny & Hope That I Die: Why would Senate Republicans delay extending unemployment benefits for weeks and weeks, and then finally vote unanimously in favor of them? Because procedural rules made delay the functional equivalent of denial, so they could screw people and still look good as far as the voting record went. Bastards.
  • Listening to the People Who Were Right: Ten years ago, Sen. Byron Dorgan, D-N.D., correctly told his colleagues that repealing the Glass-Steagall Act was a bad idea, one that within 10 years we would come to regret. So why is it that Byron Dorgan isn’t running all things financial in Washington today? Did you not just hear what I said? He correctly told his colleagues that repealing Glass-Steagall was a bad idea.
  • Cyber Pearl Harbor has already happened. Twice. Both times on George W. Bush’s watch, although so far as anyone can tell, it doesn’t look like Obama has learned anything from his predecessor’s mistakes.
  • I Believe the Technical Term for This Is “Fraud”: One reason Chrysler got a lot of taxpayer money was that it was going to produce greener cars. Only now that it has actually gotten the money, guess what it’s not doing?
  • Another Sin to Lay at the Feet (Tentacles?) of the Vampire Squid: Oh, nothing much, really. Just an oil scam. A $2.5 trillion oil scam.
  • Relatedly, and finally, Why Goldman Sachs Should be Broken Up, by, interestingly enough, Goldman Sachs.

Wednesday, October 21, 2009 10:46 pm

More odds and ends

  • The Galleon insider-trading case, in which billionaire Raj Rajaratnam was charged and the securities-rating firm Moody’s was implicated? Has been assigned to Judge Jed Rakoff. Yeah, this Jed Rakoff. (I hope the judge is taking extremely good care of his health, if you know what I mean, because he is making life intolerable for some very, very wealthy and powerful people.)
  • Former Fed Chairman Paul Volcker, who got us both into and out of the ’81-’82 recession, thinks we need to kind of restore the Glass-Steagall Act, which kept commercial banks from doing investments (and being dragged under when those investments went south) before its 1999 repeal. But he’s having trouble selling that idea to all the Goldman Sachs alumni on Team Obama.
  • If this hearing in fact happens tomorrow — I read or heard somewhere it could get delayed — it could get real ugly real fast for Fed Chairman Ben Bernanke and former Treasury Secretary Hank Paulson. Hell, it might even get ugly for current Treasury Secretary Tim Geithner. I’d be OK with any and/or all suffering some consequences, because you don’t have to be a Harvard MBA to know Bank of America shareholders got screwed.
  • Speaking of Hank Paulson, turns out that while he was still secretary, he met in Moscow with the board of Goldman Sachs. But nothing improper happened. Really. Move along; nothing to see here. These are not the droids banksters you’re looking for.
  • Dana Perino, concern troll. Memo: advice on how to conduct yourself from a PR standpoint from someone who used to take money to call people traitors and supporters of terrorists is probably not worth what you’re paying for it.
  • Shorter Congressman Jeb Hanserling (R-Texas): I’m here to protect banks; screw the consumers.
  • Another Republican, this time John McCain, thinks another earmark, this one $325,000 for earthquake study in Memphis, is a waste of money, and once again is wrong. Three words: New Madrid Fault.
  • Shorter Timothy Noah: Whatever happened to, you know, reporting?; or, The public option was always popular, you morons — you just pretended otherwise or weren’t paying attention.
  • More Noah, because this is just so good and so true: “Political reporters are momentum junkies, forever plotting out momentary trends to infinity. If they were meteorologists, they’d interpret 90-degree temperatures in July to predict 160-degree temperatures in December.”
  • John Cole righteously dopeslaps neocon pinhead Pete Wehner.
  • Sure, Sarah Palin’s $29 book can become a bestseller — when you sell it for $9 or give it away with a magazine subscription.
  • The Bush and Obama administrations actually threatened not to share intelligence with the U.K. if it released evidence of our torture of a guy named Binyam Mohammed. (Yeah, let’s stop sharing info with our oldest and most trusted ally. Genius.) Fortunately, Britain’s highest court is calling their bluff.
  • The maker of Tasers, which has long claimed that Tasers aren’t lethal, now concedes that they might be, potentially, well, a little bit, um, lethal. I’m guessing someone finally talked to their lawyer and figured that just maybe they might want to do a little butt-covering.
  • Socialism … and its potential benefits.
  • OTOH, let’s foster competition and innovation, not hinder it.

Finally, a bit of a health-care roundup:

  • The House Judiciary Committee voted 20-9 today to strip the health-insurance industry of its federal antitrust exemption. This is such a good idea that three Republicans even went along with it. I dearly hope my own representative, Howard Coble, was one of them. (thomas.loc.gov hasn’t been updated yet so I don’t know.)
  • You can too get a hip replacement under the Canadian health-care system even if you’re of retirement age. Ignore the urban legends/propaganda.
  • Sen. Richard Burr’s health-care reform plan: fail. Not epic fail, not actual sabotage of what the bill purports to support, but also not enough recognition of certain economic and financial realities.
  • Expand Medicare to include — well, anyone who wants in? That’s a public option even some Blue Dogs can believe in.
  • And even if we choose a real public option, the Congressional Budget Office says it won’t cost as much as opponents have been claiming.
  • Apparently, U.S. Sen. Arlen Specter had no idea that some people were unable to start their own businesses, or stuck in jobs they hate or aren’t suited for, because they can’t afford the health insurance costs they’d have to pay if they made those moves. I mean, c’mon, how imaginative do you have to be before that possibility occurs to you?
  • Last but not least, Al Franken humbles a Hudson Institute hack on health-care finance:


Senator Al Franken: I think we disagree on whether or not the healthcare reform we’re talking about now in Congress should pass. And you said that, kind of the way we’re going will increase bankruptcies. I want to ask you, how many bankruptcies because of medical crises were there last year in Switzerland?

Diana Furchtgott-Roth: I don’t have that number in front of me but I could find out and get back to you.

Franken: I can tell you how many it was. It’s zero. Do you know how many medical bankruptcies there were last year in France?

Furchtgott-Roth: I don’t have that number but I can get back to you if you like.

Franken: The number is zero.
…

Create a free website or blog at WordPress.com.

%d bloggers like this: