Blog on the Run: Reloaded

Friday, April 10, 2015 8:54 pm

Odds and ends for April 10

Vox.com has created an interactive map showing at least some information on each of more than 5,600 officer-involved homicides dating to 2000. The data are badly incomplete, and Steve Buttry and others have noted that it would be nice if the data were searchable in some ways that they currently are not. But what’s there is scary, and depressing, enough.

Looks like overzealous New York cops may have finally messed with someone with the resources to mess back.

It isn’t Facebook whose mantra is “Don’t be evil,” and here’s one reason why.

Some liberal sites like Newscorpse are arguing that this Roger Ailes statement means he’s admitting Fox News isn’t news but entertainment. That’s true, but I don’t think Ailes is admitting it. Rather, I think he’s talking about competing with TNT, USA, and ESPN merely in terms of audience ratings and share, not content, and that the other interpretation is an unsupported reach.

I admire Simon Schräder’s initiative and creativity even as I hope and expect that his freedom-of-information request will be unsuccessful.

So with its very viability under attack by the N.C. General Assembly, the UNC system decides that its biggest problem is … raising salaries for chancellors? Way to paint a bulls-eye on yourselves, guys.

Its leaders keep saying the legislature’s top priority is jobs, but as the man said in “48HRS,” we all know the truth’s a little different. My friend Susan Ladd continues to call out the legislature for its efforts to shrink state government until it fits inside your uterus.

Duke Energy got off with a $25 million slap on the wrist for contaminating groundwater in New Hanover County. Naturally, it is whining about that.

Two magistrates who left their jobs rather than issue marriage licenses to same-sex couples as now required in N.C. by court order are — duh — suing, claiming that their religious rights were violated. Here’s hoping a court swiftly and violently upsides them with the clue stick because I have had it with religious wingnuts and their oh-so-tender fee-fees. If y’all want to know what violation of religious liberty really looks like, Kenya can show you.

The News & Record’s Joe Killian eviscerates the Rhino Times’s fake poll on SB 36, Sen. Trudy Wade’s bill to create a GOP-controlled City Council in a city that’s two-thirds Democratic because they can’t seem to win at the polls.

My friend Linda Hoopes, a psychology Ph.D. with a special interest in resilience — how people respond to and recover from adversity — now has a weekly radio show and podcast, Resilience Radio. It airs live at 4 p.m. Eastern time on Mondays.

Damn. CLT Blog, one of the most innovative and journalistically successful citizen-journalism efforts around, has given up the ghost after 6-plus years. (h/t: @underoak)

Study: People who curse a lot are f—–g awesome.

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Saturday, September 27, 2014 6:40 pm

How Koch Industries could blow up financial markets again

If you liked 2008, you’ll love what could happen next:

Koch is also reaping the benefits from Dodd-Frank’s impacts on Wall Street. The so-called Volcker Rule, implemented at the end of last year, bans investment banks from “proprietary trading” – investing on their own behalf in securities and derivatives. As a result, many Wall Street banks are unloading their commodities-trading units. But Volcker does not apply to nonbank traders like Koch. They’re now able to pick up clients who might previously have traded with JPMorgan. In its marketing materials for its trading operations, Koch boasts to potential clients that it can provide “physical and financial market liquidity at times when others pull back.” Koch also likely benefits from loopholes that exempt the company from posting collateral for derivatives trades and allow it to continue trading swaps without posting the transactions to a transparent electronic exchange. Though competitors like BP and Cargill have registered with the CFTC as swaps dealers – subjecting their trades to tightened regulation – Koch conspicuously has not.

So, basically, Koch can now do to the nation’s and the world’s commodities markets what it has done to our air and water. And Congress, its morals and environmental concerns lubed by tens of millions in Koch lobbying money, is letting the company go right ahead and do that. And it will do it; the company’s regulatory and criminal record is one of almost unrelieved violations, punctuated only by fines that, while perhaps big in historical terms, are no more than a minor annoyance to the company’s balance sheet. More than enough evidence exists to level a RICO charge against CEO Charles Koch.

That a massive company with such a troubling record as Koch Industries remains unfettered by financial regulation should strike fear in the heart of anyone with a stake in the health of the American economy. Though Koch has cultivated a reputation as an economically conservative company, it has long flirted with danger. And that it has not suffered a catastrophic loss in the past 15 years would seem to be as much about luck as about skillful management.

What Congress does not seem to grasp is that luck and hope are not plans. Meanwhile, Koch Industries is doing its own planning:

In “the science of success,” Charles Koch highlights the problems created when property owners “don’t benefit from all the value they create and don’t bear the full cost from whatever value they destroy.” He is particularly concerned about the “tragedy of the commons,” in which shared resources are abused because there’s no individual accountability. “The biggest problems in society,” he writes, “have occurred in those areas thought to be best controlled in common: the atmosphere, bodies of water, air. . . .”

But in the real world, Koch Industries has used its political might to beat back the very market-based mechanisms – including a cap-and-trade market for carbon pollution – needed to create the ownership rights for pollution that Charles says would improve the functioning of capitalism.

In fact, it appears the very essence of the Koch business model is to exploit breakdowns in the free market. Koch has profited precisely by dumping billions of pounds of pollutants into our waters and skies – essentially for free. It racks up enormous profits from speculative trades lacking economic value that drive up costs for consumers and create risks for our economy.

That is a business model for whose banning we have more than sufficient justification. Koch Industries is the industrial and financial equivalent of a serial killer. It has killed many times, and left unimpeded, it is certain to kill again many more times.

Thursday, January 23, 2014 8:57 pm

Terrorist acts that our federal and state governments have ignored

Esquire’s Charlie Pierce with a thought experiment:

Imagine if there were three terrorist events in two weeks. First, terrorists poison a state’s water supply. Then, they rig a building to collapse and rig another one hundreds of miles away to explode. Nervous politicians would be blue-pencilling the Bill of Rights by daybreak. The NSA would throw a parade for itself. Edward Snowden would be hung in effigy, if we couldn’t do it in person. Somebody’s ass would get droned in Waziristan.

Sounds about right.

But in the past two weeks, we have seen West Virginia’s water supply be poisoned by a Koch Bros.-owned chemical plant (CORRECTION: As Roch notes below, the Kochs sold the plant Dec. 31, nine days before the leak), which promptly filed for bankruptcy protection so that the families who are harmed will have to be compensated by the state if they get compensated at all. Then we have the building collapse in Nebraska and the explosion in Oklahoma. And those events happened in the wake of the fertilizer plant explosion in West, Texas, that killed 15 people, injured more than 160 others and damaged or destroyed more than 150 buildings. What do these things have in common? Freedom! The dead hand of government regulation has been removed, by fiat or via lack of enforcement, so that these companies could kill Americans without significantly harming their owners’ bottom lines.

At Cogitamus.com, the Low-Tech Cyclist says:

I keep on waiting for the Democratic Party to get a clue about this: to say after the latest such disaster, “This is why we regulate, [expletive] — this is why we need the regulations, and why we need enough Federal inspectors out in the field to make sure they’re followed.  Because otherwise, they’ll poison our food, dump chemicals in our rivers, steal your wages, and make you work in places that could blow up.”

But Dems at the state and federal levels seem almost as in thrall to industry as their GOP brethren and sistren, so we’re all screwed. Pierce concludes:

(Forklift operator) Kendrick Houston was brave enough to go back into the fire (in Omaha). Yet too many of our politicians, local and national, don’t have the simple stones to stand up to a corporate class that has come to represent nothing but death and pillage. But they will show up at the funerals, boy. They will do that, and they will talk about the indomitable spirit of American individualism, through which people will run back into the fire, and then they will go out onto the stump next fall and talk about how the dead hand of government regulation is stifling that same spirit, and that freedom demands more victims. The American Dream becomes the province of the dead, Moloch with stock options, and that is the country today, where things fall down and things blow up and almost nothing ever changes.

The Republicans got the Congress back in 1994 in part by using language to frame the terms of the debate and even to describe their opponents as outlined in the now-famous document “Language: A Key Mechanism of Control.” So is it excessive to, as Low-Tech Cyclist does, call our plutocrat class “terrorists”? I think not — if the poison-tipped jackboot fits, wear it — but even then, they do what they do because we allow our legislators to let them. This, among many, many other reasons, is why voting matters and why electing people to office who believe that government can and should do its job, not those who are bent on dismantling what remains of government, is so important.

Some of our most vicious terrorists are home-grown, and it’s time they did time. But in addition, and better, it’s time we prevented them from getting in the way of what’s needed to keep our food, water, drugs, cosmetics, workplaces, and so on, safe. Because the free market doesn’t give a rat’s ass if you live or die. If you doubt me, you can just go to West, Texas, or even just down to Hamlet and ask.

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