More than 20 percent of the nation’s water treatment systems have violated key provisions of the Safe Drinking Water Act over the last five years, according to a New York Times analysis of federal data.
That law requires communities to deliver safe tap water to local residents. But since 2004, the water provided to more than 49 million people has contained illegal concentrations of chemicals like arsenic or radioactive substances like uranium, as well as dangerous bacteria often found in sewage.
Monday, December 07, 2009
Or We Could Improve Our Water Systems?
I get really annoyed when people suggest it's oh so hard to come up with quick infrastructure projects. It isn't.
How About Some Supertrains?
Or at least repairing some of those supertrain bridges?
Washington (CNN) – President Obama will propose using $200 billion from the Troubled Asset Relief Program (TARP) to support creating jobs, White House officials confirmed Monda
The president, in an economic speech before the Brookings Institution on Tuesday, will argue that the money would be well spent by funding projects to build bridges and roads, weatherize homes, and provide other assistance for small businesses as well as the unemployed.
Negotiating
Since all the dirty hippies decided that the public option was what mattered, it was probably inevitable that it would go (I don't know this, I'm hopefully mostly kidding). Pissing off the hippies is what "moderates" do, and as most of them don't have a clue about policy anyway, if the hippies are for it then they know it must be bad.
Along those lines, dirty fucking hippies like digby shouldn't they think lowering the Medicare age is a good idea, because if so it won't happen.
Next time there's a major piece of legislation, I hope "The Left" can organize around supporting all the stuff they actually don't like and rejecting all the stuff that they actually do. We might just trick the "moderates" that way.
...adding, in practice I think any "compromise" which will make liberals sort of happy will just be a shiny object which will be pulled away at the last second.
Along those lines, dirty fucking hippies like digby shouldn't they think lowering the Medicare age is a good idea, because if so it won't happen.
Next time there's a major piece of legislation, I hope "The Left" can organize around supporting all the stuff they actually don't like and rejecting all the stuff that they actually do. We might just trick the "moderates" that way.
...adding, in practice I think any "compromise" which will make liberals sort of happy will just be a shiny object which will be pulled away at the last second.
Pool Boy Journlism
I do not know why elite journalism wants to elevate and showcase its worst elements.
At Least We Covered The Bonuses
I find it weird that some see these losses as somehow "small."
That's about what the annual federal food stamp program costs, though expenditure per food stamp recipient is a bit less than it is for the banksters.
WASHINGTON — The Treasury Department expects to recover all but $42 billion of the $370 billion it has lent to ailing companies since the financial crisis began last year, with the portion lent to banks actually showing a slight profit, according to a new Treasury report.
That's about what the annual federal food stamp program costs, though expenditure per food stamp recipient is a bit less than it is for the banksters.
EPA
A tax or a well administered cap and trade program would be superior (and more favored by business) to EPA regulation, which is presumably why the EPA is now going to threaten to regulate the hell out of carbon emissions.
The Obama administration will formally declare Monday that carbon dioxide and other greenhouse gas emissions pose a danger to the public's health and welfare, a move that lays the groundwork for an economy-wide carbon cap even if Congress fails to enact climate legislation, sources familiar with the process said.
"What Is Left Of True America"
I'm sure it's a lovely place, but I really detest people claiming a particular pile of rubble is somehow The Genuine Slice Of Americana That The Rest Of Us Do Not Have Access to.
Forks is purer than that. Forks has its own natural enchantments. Forks is what is left of true America. It is America without Starbucks, America without Disney and without superficiality.
Forks is all that is right with America set in beautiful landscapes of rock, tree and moss. And that is why Forks should be visited.
So Quit
The whole firm should be put on government pay scales.
Five senior executives at American International Group told the bailed-out insurer last week they may quit if their compensation was cut significantly by the U.S. pay czar, the Wall Street Journal reported.
Sunday, December 06, 2009
Aside From All His Other Problems
When Little Tommy Friedman finds a metaphor he likes, he keeps repeating it until you want to fire a nailgun into your brain. He said basically the same thing on Hardball and on Charlie Rose.
Really Awful Policy
So the Treasury is going to try to encourage the streamlining of short sales as an alternative to foreclosures. Of course what they could also do is streamline an equivalent mortgage principal modification which might let people stay in homes, but that would make too much sense.
This Is Crazy Talk
I mean, nothing like this has ever happened.
Though now I don't think the issue is low interest rates per se but the Fed's decision to backstop everything.
FRANKFURT -(Dow Jones)- The ultra-low level of global interest rates may increase the risk of excessive risk-taking by banks, and consequently of new asset price bubbles, according to a study published Monday by the Bank for International Settlements.
A special report in the BIS's quarterly survey of international finance concluded that there is "evidence of a significant link between an extended period of low interest rates prior to the (2007-2008 financial) crisis and banks' risk-taking."
...
The report's author Leonardo Gambacorta urged central banks to "learn how to factor in the effect of their policies on risk-taking", adding that "monetary policy is not fully neutral from a financial stability perspective".
Though now I don't think the issue is low interest rates per se but the Fed's decision to backstop everything.
Gambling Our Way To Prosperity
More and more casinos are opening up, competing with each other, and shockingly they may not turn out to be the solution to municipal revenue problems.
Nobody could have predicted...
Nobody could have predicted...
Sunday Bobbleheads
Face the Nation has Gates and Clinton.
This Week has Gates, Clinton, and Feingold.
Meet the Press has Gates, Clinton, and President John McCain.
Some redundancies. Document the atrocities!
This Week has Gates, Clinton, and Feingold.
Meet the Press has Gates, Clinton, and President John McCain.
Some redundancies. Document the atrocities!
Saturday, December 05, 2009
More Thread
Via. Here's a great song and video, high quality stuff provided here at no cost to you the customer. You just don't get this class of service at other blogs.
Senators Are Silly People
One thing I wish they would collectively realize is that while they speechify on C-SPAN as if they imagine the whole world is watching, they'd better hope the whole world isn't watching because "the world's greatest deliberative body" looks like a clown show to most people. No disrespect meant to clowns. Except the very scary ones.
Amenities Lacking In My Urban Hellhole
I don't go to movies very often in part because there isn't a super convenient quality mainstream cinema all that close (there are indie screens which are closer, but not super close either). There are two with decent transit access that aren't very close and one a bit closer but not quite walking distance without decent transit access.
Just so you know everything isn't perfect here!!
Just so you know everything isn't perfect here!!
Option Arms
We're entering into peak recast wave territory, though plenty of people will stop paying their mortgages even before they get bitten by that. 40%!
Good Morning
Couple more banks were swallowed while I was out.
Greater Atlantic Bank, Reston, VA and Benchmark Bank, Aurora, IL.
Greater Atlantic Bank, Reston, VA and Benchmark Bank, Aurora, IL.
Friday, December 04, 2009
Maybe Someone Does Get It
Good.
Obama said he believes that the best way to reduce the deficit is through economic growth, and that by contrast, cutting back on government stimulus too early could stifle the recovery.
"Now, if we can't grow our economy, then it is going to be that much harder for us to reduce the deficit," Obama said. "The single most important thing we could do right now for deficit reduction is to spark strong economic growth, which means that people who've got jobs are paying taxes and businesses that are making profits have taxes -- are paying taxes. That's the most important thing we can do."
Obama's answer came in response to a question from Bob Kuttner, an editor of The American Prospect and a Huffington Post contributor, during the White House jobs summit. It received little attention from a mainstream media that prefers driving the storyline that the deficit is the greatest threat facing the economy.
The Very Hungry FDIC
Swallows Buckhead Community Bank, Atlanta, GA and First Security National Bank, Norcross, GA.
More Money
The advantage of using TARP money for jobs is that it's already allocated. Hopefully they use it wisely.
New Trains Needed
According to his liveblogging staff, LaHood says Amtrak will need to replace its entire fleet over the coming decade.
More People = More Local Good Stuff
The general bias against greater density of development exists even in urban hellholes, and even in neighborhoods of urban hellholes with a bit of obvious blight. The point is not that greater density is always better, but if you have a bunch of empty storefronts and generally lack key retail options, the way to improve on that is to increase local demand. The way to increase local demand is to have there be more people locally.
Violence Against Asians
South Philly's has large and growing Asian (largely, but not just, people of Vietnamese origin and descent) and Hispanic populations, creating a very mixed-race community. Sadly, racially motivated violence against Asians is commonplace in the schools.
Tian, 19, of South Philly, and five other students who are recent immigrants are staying home today because they were among 26 Asian students who were attacked by a gang of other students throughout the day yesterday, said Xu Lin, of the Chinatown Development Corporation, who works with victimized students.
District officials said that 10 students have been suspended. No arrests were reported, but students who were outside the school yesterday said they had seen students being led out of the building in handcuffs.
Worried The Good News Is Bad News
As I said yesterday, while I wasn't rooting for a bad economy I was somewhat rooting for a bad-sounding measurement of the economy. There's no contradiction here as measurement is imperfect and the unemployment number specifically bounces around quite a bit. The worry is that momentum for an aggressive jobs bill is lost. Obviously I could be completely wrong about everything and an aggressive jobs bill isn't needed, but our Fed chair doesn't seem to be too concerned about the unemployment rate, so...
Whatev
I don't buy this story.
Dec. 4 (Bloomberg) -- The U.S. Treasury Department’s refusal to sell its 34 percent stake in Citigroup Inc. is hampering the bank’s plans to repay $20 billion of remaining bailout funds, people familiar with the bank said.
Executives at the New York-based bank are growing frustrated because they can’t sell stock to raise money for repayment until the Treasury signals when and how it will unload its 7.7 billion shares, said the people, declining to be identified because the matter is under discussion. Investors may be reluctant to buy shares because a Treasury sale could drive down the price.
Thursday, December 03, 2009
Jobs Report
It comes out tomorrow. I'm certainly not hoping for bad news in the sense of wanting there to be more economic pain than there actually is, but I wouldn't mind some bad news in the data, as in a big jump in the measured unemployment rate. Maybe that'd light some fires, though I'm so old I can remember when 10.2% unemployment was some kind of nightmare scenario.
Consensus forecast is -125K jobs. Place your over/under bets! I'll go with the under, meaning fewer total jobs/more lost jobs.
Consensus forecast is -125K jobs. Place your over/under bets! I'll go with the under, meaning fewer total jobs/more lost jobs.
Nothing Left To Do
I said yesterday that I didn't have strong feelings about Bernanke's confirmation. It's not that I'm a fan, it's just that I didn't imagine anyone who would be on the likely short list to replace him would be any better.
But his testimony today was awful. Apparently more fiscal stimulus is bad according to Helicopter Ben. It's his mandate to maintain full employment. He hasn't done it. The Fed's effectively at zero interest rates. So, basically, 10.2% unemployment is ok with Ben.
Nothing to be done. Well, except for stealing from regressive taxes.
Heckuva job!
But his testimony today was awful. Apparently more fiscal stimulus is bad according to Helicopter Ben. It's his mandate to maintain full employment. He hasn't done it. The Fed's effectively at zero interest rates. So, basically, 10.2% unemployment is ok with Ben.
Nothing to be done. Well, except for stealing from regressive taxes.
Heckuva job!
The Left
When insider publications raise questions about base voters, they tend to talk about it as if what matters are whether highly plugged in highly informed base voters are going to be excited or stay home. But the real issue isn't whether someone like me stamps my feet, writes furious blog posts, and refuses to go push the button with Arlen Specter's name next to it, it's whether the new and younger voters who voted for Obama, some of whom are plugged in and some of whom aren't, just don't bother. It's whether activists bother to register new and changed location voters. It's about voters who, for whatever reason, don't always bother to vote show up.
There might be some pissed off anti-Obama Lefties - and good for them! - who choose to stay home, but much more important are the larger number of people who need a bit of encouragement to get them to the polls.
There might be some pissed off anti-Obama Lefties - and good for them! - who choose to stay home, but much more important are the larger number of people who need a bit of encouragement to get them to the polls.
Jobs
I think "it's the economy stupid" has always been seen a bit too strongly as the reason for the 1992 Clinton victory, but I don't much doubt that, whether or not she's wise to lay down such a market, the 2010 midterms will come down to jobs.
Perhaps They Could Mortgage One Of McCain's Homes?
I don't think quite enough attention is being paid to the various state budget catastrophes that are ongoing.
The state's cash-flow problems are so dire that it took less than two weeks for government to tap the entire $700 million loan it had borrowed to help with short-term needs
....
On Nov. 19, the state finalized a loan agreement with Bank of America for $700 million, the first time since the Depression that Arizona has needed to turn to an outside borrower.
Stuff To Build
For example, Amtrak bridges need a bit of help. Finally getting around to long-needed maintenance projects does not make for sexy headlines, and even worse can cause closures and travel delays, but it's still kinda necessary.
Awhile back I took the train (NJT) to Atlantic City, a city which stands as a glorious tribute to the prosperity that a gambling economy provides, and while I have no idea what the status of the bridge over the Delaware actually is, it was about the scariest bridge I've ever been on..
Awhile back I took the train (NJT) to Atlantic City, a city which stands as a glorious tribute to the prosperity that a gambling economy provides, and while I have no idea what the status of the bridge over the Delaware actually is, it was about the scariest bridge I've ever been on..
Build Stuff
Yes this is my personal bias, but passing a comprehensive long term much improved Transportation Bill is probably the best chance to nudge this economy out of recession.
At The Risk Of Making An Obvious Point
So I decided that I'd at least link to some data to perhaps make it a bit meatier... as I see politicians continuing to fret over that evil deficit, I wish someone would inform them that a big cause of declining tax revenues/increasing deficit is... unemployment!
And that isn't just a short term thing. Longer term the unemployed find their job skills degrading, more are likely to move into gray market employment where income isn't necessarily taxed, labor force participation might decline, etc. There aren't these two separate things - unemployment and deficit - they're rather intertwined.
And that isn't just a short term thing. Longer term the unemployed find their job skills degrading, more are likely to move into gray market employment where income isn't necessarily taxed, labor force participation might decline, etc. There aren't these two separate things - unemployment and deficit - they're rather intertwined.
Thursday Is New Jobless Day
457K new lucky duckies, 5000 fewer than last week. Still high, though inching towards not quite awful territory...
Wednesday, December 02, 2009
Right Is Right
Barbara Boxer is right about this:
This really is not even debatable. Data was stolen and then misrepresented in order to slander specific individuals, even to accuse them of criminal wrongdoing: this is what happened.
"ClimateGate" is about the contemptible methodology of powerful interests cheering on mass human suffering for narrow financial gain, full stop. It's about theft and libel. Period.
Leaked e-mails allegedly undermining climate change science should be treated as a criminal matter, Sen. Barbara Boxer (D-Calif.) said Wednesday afternoon.
Boxer, the top Democrat on the Senate Environment and Public Works Committee, said that the recently released e-mails, showing scientists allegedly overstating the case for climate change, should be treated as a crime.
This really is not even debatable. Data was stolen and then misrepresented in order to slander specific individuals, even to accuse them of criminal wrongdoing: this is what happened.
"ClimateGate" is about the contemptible methodology of powerful interests cheering on mass human suffering for narrow financial gain, full stop. It's about theft and libel. Period.
More Like This
I don't have strong feelings about the Bernanke confirmation, but I think a little lefty obstructionism of it has utility regardless. If nothing else it'll cause the Villagers to rediscover the evils of obstructionism, which is only okay if you're a Republican.
Short Motion
I get that in thinking about a quick jobs bill, the speed at which money can be spent is important. Still if they'd had plan 'B' a year ago and said, "we think this will work but just in case get some plans together for next year" there would be more potential projects.
A year seems like a long time, but here we are...already almost a year later.
A year seems like a long time, but here we are...already almost a year later.
Philly Doesn't Get Any Transit Nerd Love Either
Hey, Ray, I'm all for PortlandAndDenver and the rest of them, but we're one of those few cities that didn't scrap all of our trolley lines. How about kicking in some cash to restart a couple more lines that my local transit authority promised to restart...
Not Shrinking!!
Maybe all those New York Times articles about how Philly is Brooklyn or whatever finally worked!
My urban hellhole is far from perfect, and there are neighborhoods which live up to the hellhole name, but there is a slowly increasing portion of the city which provides something which is in pretty short supply in this country, decent and relatively affordable walkable urban living.
After decades of population loss, the city has stopped shrinking, according to revised Census Bureau estimates delivered to the city earlier this week.
On Monday, the city received a letter from the Census Bureau raising the 2008 population estimate by about 93,000.
My urban hellhole is far from perfect, and there are neighborhoods which live up to the hellhole name, but there is a slowly increasing portion of the city which provides something which is in pretty short supply in this country, decent and relatively affordable walkable urban living.
Marriage Equality
Hopefully once New York does the right thing, its neighbor, New Jersey follows suit.
Though I wouldn't recommend anyone in Pennsylvania start holding their breath waiting for it to happen here.
Though I wouldn't recommend anyone in Pennsylvania start holding their breath waiting for it to happen here.
There Is A Sliver Of A Story Here
Forgive my contribution to Tiger's Penis Week, but it is worth reading Charlie Pierce on how journalists and PR people collude to maintain images and celebrity brands. Until they stop.
Volt
Plug-in hybrid car goes on sale next year. I don't think "pure" electric vehicles will really be viable until the range goes up a bit and fast charging stations are more widely available, though an exception would be for certain government and business fleets. Obviously some people might want one!
Allies Serving Up Shit Sandwiches
No, CAP, religion is not morality and health care reform which doesn't cover uteruses isn't "comprehensive health care reform" which meets "basic human needs."
FHA
When Wall Street stopped eating Big Shitpile, all the action just went to the FHA.
Too much policy has been about propping up home prices, instead of letting people keep their homes.
Too much policy has been about propping up home prices, instead of letting people keep their homes.
Tommy Friedman's War
Accountability free pundit world. Little Tommy Friedman today:
Little Tommy Friedman back then.
Suck on this Tommy you sick fuck.
To me, the most important reason for the Iraq war was never W.M.D. It was to see if we could partner with Iraqis to help them build something that does not exist in the modern Arab world: a state, a context, where the constituent communities — Shiites, Sunnis and Kurds — write their own social contract for how to live together without an iron fist from above.
Little Tommy Friedman back then.
I think it [the invasion of Iraq] was unquestionably worth doing, Charlie.
...
We needed to go over there, basically, um, and um, uh, take out a very big state right in the heart of that world and burst that bubble, and there was only one way to do it.
...
What they needed to see was American boys and girls going house to house, from Basra to Baghdad, um and basically saying, "Which part of this sentence don't you understand?"
You don't think, you know, we care about our open society, you think this bubble fantasy, we're just gonna to let it grow?
Well, Suck. On. This.
Okay.
That Charlie was what this war was about. We could've hit Saudi Arabia, it was part of that bubble. We coulda hit Pakistan. We hit Iraq because we could.
Suck on this Tommy you sick fuck.
Tuesday, December 01, 2009
Those Meddling Bloggers
I'm actually somewhat less enamored by the awesome power of "citizen journalism," as opposed to, I guess, "non-citizen journalism," but otherwise I think Arianna's piece on evolving journalism is pretty good.
I'm quite happy for newspapers to try to charge readers any way they want. I don't think "information has to be free" or whatever, I just don't think most of them are going to have much luck charging.
I'm quite happy for newspapers to try to charge readers any way they want. I don't think "information has to be free" or whatever, I just don't think most of them are going to have much luck charging.
Hey, Why Don't We Sell Some Bonds
Because, like, those bonds would soooo be different from these other bonds we sell to finance that debt you're so worried about.
The idiots who rule us.
...I actually have no idea if there was a "war tax," but in 1944 income above $200,000 was taxed at a 94% rate. That's about $2.5 million in today's dollars.
In lieu of a "war tax" to pay for a troop increase in Afghanistan, Democratic Sen. Ben Nelson (NE) is proposing war bonds.
"We didn't have a war tax in the second World War," Nelson said, and instead the government sold Americans bonds."People invested in their country, in that fashion made a lot of sense back then. I don't know why it might not make sense today, certainly in lieu of jumping to tax."
The idiots who rule us.
...I actually have no idea if there was a "war tax," but in 1944 income above $200,000 was taxed at a 94% rate. That's about $2.5 million in today's dollars.
Gambling Our Way To Prosperity
I don't really have anything against legalizing gambling, though I hate the casino projects in Philadelphia because they're shitty urban development, but gambling as substitute for appropriate taxation is really a dumb way to go.
Liquor Licenses
One reason so many areas are dominated by big chain restaurants is that some states sharply limit the number of restaurant liquor licenses. In New Jersey towns get one restaurant license for every 3 thousand people. That isn't many.
Sigh
White House is sending out emails asking people to host their own jobs summits.
A key feature of the Bush administration was that talking was always more important than doing.
A key feature of the Bush administration was that talking was always more important than doing.
Not Much Transit Nerd Love For Salt Lake
I haven't been there since it started service, but Salt Lake city has been pretty aggressive about developing its local rail service, though it usually isn't talked about much by transit nerds focused on denverandportland.
Here's the map.
Here's the map.
Wiping Out Debt
By converting it into different less important debt.
Creditors get paid before preferred shareholders in bankruptcy. Awesome.
NEW YORK (CNNMoney.com) -- AIG announced Tuesday that it completed a deal wiping out $25 billion of its debt to taxpayers by selling stakes in two subsidiaries to the Federal Reserve Bank of New York.
The troubled insurer gave the New York Fed preferred shares of two of its international life insurance companies, including $16 billion of American International Assurance Co. and $9 billion of American Life Insurance Co. The deal was originally announced in March.
Creditors get paid before preferred shareholders in bankruptcy. Awesome.
Probably Harder To Raise That One
And while I'm all for raising the gas tax, as contrary to myths all those roads and their maintenance are not covered by it currently, I think a non-regressive tax should be the starting place...
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