Saturday, November 07, 2009
Evening Thread
I heard Steve King (R-"Moran") is papering the Capitol grounds with the health care bill.
Has anyone read it to him to make sure he's got the right document?
Has anyone read it to him to make sure he's got the right document?
Stupak
Awhile back Dan Savage coined a new word, or at least a new meaning for a word.
Suggestions for Stupak?
Suggestions for Stupak?
We Ate It
The press likes to talk about the tremendous bank bailout success - paid it back with interest! - but that's only if you ignore the failures and likely future failures...
The Worst Person In The World
Bart Stupak.
I do not know why some people think women shouldn't have access to appropriate medical care. Something is wrong with them.
I do not know why some people think women shouldn't have access to appropriate medical care. Something is wrong with them.
That Was A Big One
Just getting around to skimming the FDIC press releases.
As of October 23, 2009, United Commercial Bank had total assets of $11.2 billion and total deposits of approximately $7.5 billion. East West Bank paid the FDIC a premium of 1.1 percent for the right to assume all of the deposits of United Commercial Bank. In addition to assuming all of the deposits of the failed bank, East West Bank agreed to purchase approximately $10.2 billion in assets of the failed bank. As part of the purchase and assumption agreement, the FDIC transferred to East West Bank all qualified financial contracts to which United Commercial Bank was a party and those contracts remain in full force and effect.
The FDIC and East West Bank entered into a loss-share transaction on approximately $7.7 billion of United Commercial Bank's assets. East West Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share arrangement is projected to maximize returns on the assets covered by keeping them in the private sector. The agreement also is expected to minimize disruptions for loan customers
Morning Thread
The ebola virus moved from my computer to me.
FDIC had a late night feast, eating:
Prosperan Bank, Oakdale, MN
Gateway Bank of St. Louis, St. Louis, MO
United Commercial Bank, San Francisco, CA
FDIC had a late night feast, eating:
Prosperan Bank, Oakdale, MN
Gateway Bank of St. Louis, St. Louis, MO
United Commercial Bank, San Francisco, CA
Friday, November 06, 2009
Every Little Thing
I didn't like George Bush and pretty much every little thing he did annoyed me, but I didn't think everything which annoyed me was somehow a big deal. But the right really just goes after every little thing because they know that eventually drudgico will pick some of it up and Chuck Todd will be blathering about it. Back in the day we'd be like uh, hey, uh, isn't torture, you know, bad? Now they have to settle for "some phrase I dislike for reasons I cannot articulate."
Village Think
The Villagers all declared that having two more solid HCR votes in the House would make it harder to pass. Either that or they think governors get to vote. Anyway, duh.
Crappy Policy
Extending unemployment is good, but the attached homebuyers' tax credit sucks and is expensive. Oh well.
Blue Doggery
The thing is that the media will generally let them get away with these contradictions. Everyone knows liberals just like to raise taxes and spend lots of money on useless crap, so a liberal supported health care plan must cause the deficit to increase. Only the brave Blue Dogs, fresh off voting to spend billions for more Freedom Bombs, can save us from that fate.
Oops. My Bad.
Former Citigroup guy John Reed, force behind Glass-Steagal repeal, actually apologizes for it.
Apologizing isn't exactly a difficult thing to do, but it's so rare that any of our elites admit any responsibly for anything.
Obviously the only way he can fully make amends is by donating a substantial portion of his fortune to a certain baby blue blogger.
Apologizing isn't exactly a difficult thing to do, but it's so rare that any of our elites admit any responsibly for anything.
Obviously the only way he can fully make amends is by donating a substantial portion of his fortune to a certain baby blue blogger.
3 Pictures
I know supplemental war funding is technically "free," but perhaps we need some non-free extra stimulus instead...
No We Can't
It's a bit depressing that the types of big and important infrastructure projects, things that were commonplace a hundred years ago, seem like impossible dreams. And Krugman's obviously correct that high unemployment will lead some to conclude that Hoover was right.
I know not everyone shares my personal infrastructure priorities, but I don't think it's especially controversial to say that we don't do much thinking big anymore. At least the second trans-Hudson rail tunnel will likely be built, though I'm not so sure about New York's 2nd avenue subway.
I know not everyone shares my personal infrastructure priorities, but I don't think it's especially controversial to say that we don't do much thinking big anymore. At least the second trans-Hudson rail tunnel will likely be built, though I'm not so sure about New York's 2nd avenue subway.
Strike
I don't have strong views on the rightness or wrongness of my local transit authority (SEPTA) strike. Important issue is the underfunded pension, with the union saying theirs is much more underfunded than management's, and management just saying they're doing what's legally required. Recent events certainly give the union good reason to be concerned that their pensions might be like Lucy's football when the time comes to collect. If it's as underfunded as they say, then that's a pretty damn good reason to strike. I am puzzled by people who think bus driver wages are extremely high. For those people, I say... SEPTA's hiring! Have fun driving that bus, Paul Davies. As if.
As someone not dependent on it to get around, I obviously don't have the perspective of someone having a difficult/impossible to get to work/school. Get that people are pissed, just think they should be a little less sure about who they should be pissed at.
Talks breaking down, so strike continues!
As someone not dependent on it to get around, I obviously don't have the perspective of someone having a difficult/impossible to get to work/school. Get that people are pissed, just think they should be a little less sure about who they should be pissed at.
Talks breaking down, so strike continues!
Emp-Pop
Employment to population ratio is at early 80s levels. Ugly.
Male 20+ unemployment at 10.7%, female 20+ at 8.1%.
Male 20+ unemployment at 10.7%, female 20+ at 8.1%.
What Was Supposed To Happen
Last January the administration predicted that if the stimulus passed then employment would peak at 8% right around now and then begin declining.
Obviously that isn't what's happening.
Obviously that isn't what's happening.
This Will Probably Keep Happening
Fannie needs $15 billion more. It isn't surprising, as they were basically tasked with eating big shitpile.
Blame
Mithras makes a point about Maine:
I really do believe the days of this sort of bigotry are numbered, but then again, how long, Lord, how long, you know? Equal rights for all denied by very narrow majorities? The fuck?
If you oppose another American's right to marry who she or he wants to marry, you're a pisspoor excuse for an American. Period.
Maine voters decisively rejected same-sex marriage yesterday, 53% to 47%. Last November, when California voters overturned gay marriage there, the exit polls indicated that out of the Obama constituencies, overwhelming opposition from African-American (and, to a lesser extent, Hispanic) voters helped tip the balance. This was controversial, to put it mildly. Well, Maine is 97% white, and Obama won it in a landslide, 58%-42%.
I really do believe the days of this sort of bigotry are numbered, but then again, how long, Lord, how long, you know? Equal rights for all denied by very narrow majorities? The fuck?
If you oppose another American's right to marry who she or he wants to marry, you're a pisspoor excuse for an American. Period.
Thursday, November 05, 2009
First Draft!
Athenae & the First-Draft gang are holding a fundraiser. A is a fantastic writer, 1stD is a fantastic site, they're True-Baby-Blue Eschatonians, help them out if you at all can.
More Shooters
Senator Hutchison says current unsure thinking is that there was at least one more shooter..
Fort Hood
Military guy on MSNBC says 12 dead, 31 wounded. One shooter killed, 2 possible accomplices apprehended...
Afternoon Thought
When your first reaction to tragic events is to consider how they might support your politics, it's time to go for a nice long walk.
Getting Your Freak On
Some days I get a bit conflicted about how much to pay attention to the freak show of the day. This stuff matters in a sense because the mainstream media covers it, but it doesn't actually really matter. Sometimes I think I should try to point out how absurd it all is, and sometimes I think that if I bother I'm part of the Mark Halperin approved news media.
Making Them Understand
Robert Reich:
Democratic members of Congress have an irrational fear of the imagined "attack ad" which makes them frightened of actually supporting legislation for fear Republicans will make it sound bad. Who knows, maybe in normal times that fear is rational. But if unemployment is this high a year from now - and I think it likely will be (happy to be wrong!) absent additional help - all incumbents in swing districts will have a lot to fear.
That should be Obama's selling point to the Blue Dogs. He should tell them the economy needs a bigger stimulus in order to show improved job numbers by the mid-term elections. And he should make sure they understand that they're more politically endangered next November if the the job numbers aren't moving in the right direction by then than if they vote for a larger stimulus now.
Democratic members of Congress have an irrational fear of the imagined "attack ad" which makes them frightened of actually supporting legislation for fear Republicans will make it sound bad. Who knows, maybe in normal times that fear is rational. But if unemployment is this high a year from now - and I think it likely will be (happy to be wrong!) absent additional help - all incumbents in swing districts will have a lot to fear.
An Idea, Any Idea?
While a Congress in which one party theoretically has 60 votes in the Senate can probably walk and chew gum at the same time, it would be nice to know just what focusing on jobs and the economy would mean. For me it would mean direct aid to state and local governments and a massive public works project. To Evan Bayh it might mean cutting the corporate tax rate, or maybe it means nothing at all, but at least he could... propose that!
Reading through the Hill article, these centrists are actually making the case that voters, in the Change election, actually elected them with the hopes that they would do nothing. Interesting way to see things.
Reading through the Hill article, these centrists are actually making the case that voters, in the Change election, actually elected them with the hopes that they would do nothing. Interesting way to see things.
Politicians Are All From The South
This was true for so many years that the politician archetype in pop culture was always some middle aged white dude with at least a modest southern accent.
Never Going To Learn
It isn't even some controversial crazy idea Markos Moulitsas came up with, it's pretty well understood that elections in off-years, off-off-years, and of course special elections, are won by motivating turnout, specifically motivating those voters who are capable of being motivated... the base voters.
Still if the Dems get clobbered in 2010, it will inevitably be because Obama tried to ram his Marxist agenda through, and if only he'd done what more "moderate" dems, who think government should spend money on wars and subsidizing large corporations, wanted, then everything would have been fine.
Let's just hope a few of them are out of a job.
Still if the Dems get clobbered in 2010, it will inevitably be because Obama tried to ram his Marxist agenda through, and if only he'd done what more "moderate" dems, who think government should spend money on wars and subsidizing large corporations, wanted, then everything would have been fine.
Let's just hope a few of them are out of a job.
Cab Driver Anecdotes
Aside from everything else, I do wish someone would explain to conservatives that cab drivers are, you know, service workers and good service workers are adept at catering to the desires and prejudices of their clients.
Health Professionals
The role doctors and other health professionals have played in facilitating US torture practices is, for me anyway, shocking. Hippocratic oath? Not so much.
Or, as Atrios might say, monsters.
Or, as Atrios might say, monsters.
Wednesday, November 04, 2009
Secret copyright treaty
This is a very bad thing.
It's like having your whole family deprived of the right to use the US mail just because someone copied more than 40 lines when quoting from a book - or was even accused of it. Without a trial.
Signed,
Not Atrios
It's like having your whole family deprived of the right to use the US mail just because someone copied more than 40 lines when quoting from a book - or was even accused of it. Without a trial.
Signed,
Not Atrios
Incompatible
All the reports of the complete traffic clusterfuck that is center city Philadelphia serve to remind us that dense population and employment centers are only possible if a significant portion of the population does not travel to those centers in a car. Not everyone wants to live/work in such a place, and that's great, but such places for too long have also had car-centric policies which have worked against their viability and livability.
Selfish Greedy Workers
And judging by that same twitter feed, most people are not standing in solidarity with the workers. The announced-late-at-night 3 AM strike was a dick move, I admit, but otherwise a big problem is that in these situations there often isn't much solid information about just what are the real issues for the union. News stories focus on wages, and while everyone thinks 50 grand (with some seniority) is a lot for a bus driver, not many of those people are applying for those awesome bus driver jobs. This article provides a bit more of the union's perspective. Aside from wages and health care, concerns about pension underfunding and other issues exist.
Dependent
Skimming through a feed of a twitter search on the keyword SEPTA and one realizes just how many people are dependent on my local transit authority to get around. I think there's a tendency to see public transit as merely an option, an alternative. You can drive to work or you can drive to the park-n-ride and ride the train. But large numbers of transit users have no car and driving is not an option. People are rather upset about being unable to get to class or work. 275,000 daily trips on the two-line subway system alone. Some of those people have other options, but plenty don't.
Feeling That Nedmentum Again
Ned Lamont thinking about running for governor. I have no deep thoughts on the subject and have no knowledge of his potential rivals. Discuss!
Green Shoots
Record high number of bankruptcies since the new law took effect.
New jobs numbers come out Friday, and they'll almost certainly be ugly. Only question is how ugly.
New jobs numbers come out Friday, and they'll almost certainly be ugly. Only question is how ugly.
Strike
About half of Philadelphia district kids take public transportation to school. So the local transit authority strike is having a significant impact on attendance. Day 2!
Let's Cancel The NFL Season Too
Glennzilla:
This has long been one of the weirdest thing about Villagers to me, that they long for the day when all political disagreement ends, along with the idea that it should be the overarching goal of any president. People disagree about stuff, and representative democracy is how we try to hash that out instead of shooting each other. Essentially what these people want is politics without the people, a Washington which could rule unfettered without the prying eyes of the great unwashed real people they profess to speak for.
Villagers are weird.
- Indeed, it was not all that long ago when Broderian trans-partisan fetishists were holding up that same oligarch as the ideal presidential candidate who would finally and single-handedly vanquish America's messy and unpleasant political disputes.
This has long been one of the weirdest thing about Villagers to me, that they long for the day when all political disagreement ends, along with the idea that it should be the overarching goal of any president. People disagree about stuff, and representative democracy is how we try to hash that out instead of shooting each other. Essentially what these people want is politics without the people, a Washington which could rule unfettered without the prying eyes of the great unwashed real people they profess to speak for.
Villagers are weird.
America's Assignment Editor
Glenn Beck.
Some days I worry about the future of journalism, then I see that the LA Times pays Jonah Goldberg and see this crap on the teevee. It really can't get any worse, and "real" journalists have long failed to complain. In fact, they spent the last couple of weeks defending Fox.
Some days I worry about the future of journalism, then I see that the LA Times pays Jonah Goldberg and see this crap on the teevee. It really can't get any worse, and "real" journalists have long failed to complain. In fact, they spent the last couple of weeks defending Fox.
Tuesday, November 03, 2009
Damn
And Jim Corzine was THIS CLOSE to imposing the Dictatorship of Teh Proletariat, too.
From the comments:
Hard to disagree...
From the comments:
CORAZINE CALLED CHRISPIE AND PLEDGED A SMOOTH TRANSITION AND TOLD HIM HE JUST BOUGHT A CREDIT DEFAULT SWAP ON TEH STATE - LIKE LOUIS TEH GREAT SAID "AFTER MUA ON TEH LUGE" - ITS OVER BABY OVER
Merkin Patriot
Hard to disagree...
Deep Thought
After tonight's elections results, Joe Biden must resign, Sarah Palin must be confirmed as his replacement, and then Barack Obama must resign. The people have spoken.
No Matter What Happens
It'll probably be good for Republicans. It always is.
And, yes, the only potentially meaningful result tonight would be a Corzine loss. None of the rest of the contests are even close to having some sort of national implication.
I don't care about NY-23.
And, yes, the only potentially meaningful result tonight would be a Corzine loss. None of the rest of the contests are even close to having some sort of national implication.
I don't care about NY-23.
Phillies Saved By SUPERTRAIN
Cliff Lee's cab got stuck in traffic, so the subway took him to the stadium.
Even Southerners Don't Like Bush
While I think that they know it factually, elite media types still have a hard time shrugging off their image of Codpiece Boy, The Most Popular President Ever. But even in the South, people prefer Obama.
Post-Racial Society
Had to have been bad if suit was initiated in Bush era.
Los Angeles Clippers owner and real estate mogul Donald T. Sterling has agreed to pay a record $2.725 million to settle allegations that he discriminated against African Americans, Hispanics and families with children at scores of apartment buildings he owns in and around Los Angeles.
...
In court filings, Justice Department lawyers presented evidence that the Sterlings made statements “indicating that African Americans and Hispanics were not desirable tenants and that they preferred Korean tenants” occupy buildings they owned in Koreatown.
California
What does it mean for the President if a Democrat wins a seat in a Congressional special election?
CA-10
CA-10
Investment
I think it's a mistake, as some do, to compare economics/growth of the US with other countries and see it just as some "Who's got the biggest GDP" competition as if that matters. But if other countries are doing somehow better, or we fret that they'll win the game sometime in the future, it does tell us that maybe we're, you know, doing something wrong.
Tip Of The Spear
I'm not sure if the teabaggers will have much success in purifying their party, but it'll be interesting to see how the Villagers will react. My guess is they'll portray them as just folks exercising their patriotic duties, unlike those dirty fucking hippie traitors who ran a primary against the greatest man in America, Joe Lieberman.
Already Started
Josh:
And we're off...
Close race, state with big African-American population, election day, Fox/Drudge right-wing news machine ... isn't about time for the phony vote fraud allegations to start flying?
And we're off...
Mo Bailouts
RBS and Lloyds get more cash from the UK government.
They're getting 31 billion pounds. Annual total NHS budget is just over 100 billion pounds...
They're getting 31 billion pounds. Annual total NHS budget is just over 100 billion pounds...
Monday, November 02, 2009
Science-Based Healthcare Reform
As we peasants observe the process of HCR, our attention is rightly focused on hoping to squeeze out the most progressive mandate/regulate/subsidize scheme we can. But some people are also advocating to ensure that the reforms embrace science-based medicine, and it's something I personally support.
It's a second order issue, but for the reality based community it's a natural fit. And it's also important to note that money spent on ineffective treatments is money wasted. Unregulated, unsafe, and oversold treatments (Zicam, anyone?) not only waste money, but they take advantage of people in a vulnerable position. It's not something we should be encouraging, let alone subsidizing.
And while I'm preaching, I should say that Davenoon was being entirely unfair to homeopaths by highlighting that quack. Clearly, he is unfamiliar with the well established scientific principle of the 18th camel by which homeopathy works.
(Go Phillies! Also.)
It's a second order issue, but for the reality based community it's a natural fit. And it's also important to note that money spent on ineffective treatments is money wasted. Unregulated, unsafe, and oversold treatments (Zicam, anyone?) not only waste money, but they take advantage of people in a vulnerable position. It's not something we should be encouraging, let alone subsidizing.
And while I'm preaching, I should say that Davenoon was being entirely unfair to homeopaths by highlighting that quack. Clearly, he is unfamiliar with the well established scientific principle of the 18th camel by which homeopathy works.
(Go Phillies! Also.)
Stamps
Amount of poverty is staggering.
In my urban hellhole mixed race/income neighborhood I see a lot of food stamp (actually benefit card) usage.
Nearly half of all U.S. children and 90 percent of black youngsters will be on food stamps at some point during childhood, and fallout from the current recession could push those numbers even higher, researchers say.
In my urban hellhole mixed race/income neighborhood I see a lot of food stamp (actually benefit card) usage.
More Stimulus?
Finally.
Had a pet theory that they'd wait until unemployment rounded that magic 10% mark. And, well, it might be a convenient time tobribe provide some very important money for senators to bring home with them.
Nov. 2 (Bloomberg) -- President Barack Obama’s advisers are “seriously” considering proposing a second stimulus measure to boost the economy, Commerce Secretary Gary Locke said in an interview.
Had a pet theory that they'd wait until unemployment rounded that magic 10% mark. And, well, it might be a convenient time to
Of Course He Went There
Stay Classy, Rush.
LIMBAUGH: Scozzafava has screwed every RINO in the coun -- we can say that she's guilty of widespread bestiality. She has screwed every RINO in the country. Everyone can see just see how phony and dangerous they are. You know, 2010 might be a nightmare for PETA. Two animals may become extinct; RINOs and Blue Dog Democrats. Pelosi's gonna kill off the Blue Dogs, and the conservatives are gonna finally get rid of RINOs. The American people have had enough.
Balloon Payments
A big problem now is that many commercial real estate loan terms included balloon payments. If you don't have the cash around, you can always refinance, right? Well, obviously that's wrong, now, as CRE assets are also underwater...
Senator Speaks
Orrin Hatch says we can't have health care reform because it will be awesome and everyone will love it and they'll be so grateful that they will vote for Democrats for all eternity.
And He Isn't Prancing Around In Embroidered Costumes
George Bush is a truly weird dude. I'm glad that isn't so scary anymore.
That Is Not Light Rail
It's a little thing, but I've noticed an increasing trend of lumping together all types of rail projects, generally referring to everything as "light rail" even when it isn't. The story is fine, but the picture accompanying it is a metrolink commuter train, which is diesel-powered heavy rail.
But Bloggers Are Different!
Ultimately it all basically worked out, but once upon a time there were plenty of people who felt very strongly that the FEC needed to regulate those nasty bloggers because they... talked about politics! And were different than other media outlets because... well, I never quite understood it, but basically it was because occasionally blogs did stuff like this.
What's Good For Goldman
McClatchy:
Goldman spent years buying hundreds of thousands of subprime mortgages, many of them from some of the more unsavory lenders in the business, and packaging them into high-yield bonds. Now that the bottom has fallen out of that market, Goldman finds itself in a different role: as the big banker that takes homes away from folks such as the Beckers.
The couple alleges that Goldman declined for three years to confirm their suspicions that it had bought their mortgages from a subprime lender, even after they wrote to Goldman's then-Chief Executive Henry Paulson — later U.S. Treasury secretary — in 2003.
Unable to identify a lender, the couple could neither capitalize on a mortgage hardship provision that would allow them to defer some payments, nor on a state law enabling them to offset their debt against separate, investment-related claims against Goldman.
Sunday, November 01, 2009
Duh
As with the VCR before it, the main purpose of the DVR is time-shifting, not commercial skipping, and in an era when more shows have plot arcs instead of being standalones, it's really the only way to ensure continued interest.
BK
CIT declaring, US out $2.7 billion.
Because some banks have repaid TARP funds, you occasionally catch bobbleheads talking about how it was all a great big success, but it's only a success if you ignore the failures... and the failures which haven't happened yet.
Because some banks have repaid TARP funds, you occasionally catch bobbleheads talking about how it was all a great big success, but it's only a success if you ignore the failures... and the failures which haven't happened yet.
Perhaps You Could Write Them A Sternly Worded Letter?
I really don't think the issue is an unwillingness to take on risk.
Nov. 1 (Bloomberg) -- U.S. Treasury Secretary Timothy Geithner said the country’s economic recovery and job creation hinge on banks taking more risk and restoring the flow of credit to businesses.
“The big risk we face now is that banks are going to overcorrect and not take enough risk,” Geithner said in an interview today on NBC’s “Meet the Press” program. “We need them to take a chance again on the American economy. That’s going to be important to recovery.”
Banksters
And we all bailed them out anyway.
WASHINGTON — In 2006 and 2007, Goldman Sachs Group peddled more than $40 billion in securities backed by at least 200,000 risky home mortgages, but never told the buyers it was secretly betting that a sharp drop in U.S. housing prices would send the value of those securities plummeting.
Goldman's sales and its clandestine wagers, completed at the brink of the housing market meltdown, enabled the nation's premier investment bank to pass most of its potential losses to others before a flood of mortgage defaults staggered the U.S. and global economies.
Sunday Bobbleheads
Face the Nation has Axelrod and predictably Holy Joe Lieberman, Washington's last honest man.
Meet the Press has Geithner, Plouffe, and former Obama campaign guy Krakauer.
This Week has Valerie Jarrett.
Document the atrocities!
Meet the Press has Geithner, Plouffe, and former Obama campaign guy Krakauer.
This Week has Valerie Jarrett.
Document the atrocities!
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