The Commentariat -- October 11
A Heartwarmer. Sheryl Gay Stolberg of the New York Times. Mr. Biden visits his Scranton home.
Robert Kuttner, writing in the Huffington Post, makes a few minor factual errors in his post (e.g., it wasn't a pocket veto), but his overall point is worth considering (or hoping for!): "By pocket-vetoing the bill that sailed through Congress to expedite mortgage foreclosures, President Obama may have begun a chain reaction that will blow up Treasury Secretary Tim Geithner's confidence game with the banks."
Paul Krugman: "... if job-creating government spending has failed to bring down unemployment in the Obama era, it’s not because it doesn’t work; it’s because it wasn’t tried." ...
... This New York Times page breaks down where the stimulus money went.
... Krugman has a brief post on the Economics Nobel recipients; his take is the same as mine: "And yes, this is the same Peter Diamond whose nomination to the Fed board has been held up because of Republican doubts about his qualifications." Krugman links to his August 6 post:
Senate Republicans holding up Peter Diamond’s nomination to the Federal Reserve Board on the grounds that he may not be qualified to make monetary policy. Aside from the fact that the same Senators cheerfully confirmed Bush nominees who didn’t know much about economics of any kind, this is especially stupid right now. ...
I do not believe he’s ready to be a member of the Federal Reserve Board. I do not believe that the current environment of uncertainty would benefit from monetary policy decisions made by board members who are learning on the job. -- Sen. Richard Shelby, on Nobel Prize-winning economist Peter Diamond, who was Ben Bernanke's econ professor. Shelby returned Diamond's "unacceptable" nomination to the White House ...
... CW: there are times when Republican hypocrisy is so ripe, they can smell it in Norway. ...
... Christopher Rugaber of the AP: "Companies still aren't finding it easy to fill job vacancies," partly because traditional jobs have morphed into ones that require broader experience. "The total number of job openings does remain historically low: 3.2 million, down from 4.4 million before the recession. But the number of openings has surged 37 percent in the past year. And yet the unemployment rate has actually risen during that time."
Washington Post Editorial Board: the U.S. tax code provides for spending $200 billion a year on social programs for the wealthiest 5 percent of Americans. "The code is salted with 'tax expenditures' -- programs, many worthy, designed to promote policies from homeownership to education to retirement savings" The code "lacks transparency and accountability" and "tends to award the most help to those who need it least."
CW: ever wonder why Goldman-Sachs CEO Henry Paulson took that low-paying government job as Dubya's Treasury Secretary? Think it was to nobly serve his country? Gary Gordon of McClatchy News: while Goldman CEO, "Paulson had presided over the firm's plunge into the business of buying up subprime mortgages ... and then repackaging them into securities.... During Paulson's first 15 months as the treasury secretary..., Goldman unloaded more than $30 billion in dicey residential mortgage securities ... and became the only major Wall Street firm to dramatically cut its losses and exit the housing market safely. Goldman also racked up billions of dollars in profits by secretly betting on a downturn in home mortgage securities." Experts say it's obvious Paulson's inaction at Treasury was designed to maximize Goldman profits despite the disastrous consequences for the markets & the American economy. CW: and Paulson will never suffer any consequences.
MoveOn.org gets hold of a prospectus for RepubliCorpTM. Interactive:
The Cabal of Multinational Corporations is pleased to formally announce RepubliCorpTM, a new combined entity following our complete merger with the Republican Party.
RepubliCorpTM combines the ethics-free campaigning savvy of the GOP with the limit-free spending power of Corporate AmericaTM. This merger is precisely timed: With the recent Citizens United ruling finally placing the United States Government on the open market, RepubliCorpTM is now perfectly positioned to lead our hostile takeover bid, currently scheduled for completion on November 2nd 2010.
Howard Kurtz & Karen Tumulty of the Washington Post: "The increasing polarization of cable news is transforming, and in some ways shrinking, the electoral landscape. What has emerged is a form of narrowcasting, allowing candidates a welcoming platform that helps them avoid hostile press questioning and, in some cases, minimize the slog and the slip-ups of retail campaigning."
I have 11-year-old twin boys, and this campaign has allowed us to accelerate awkward conversations. -- Delaware Democratic Senate nominee Chris Coons, when asked about his opponent's denunciation of masturbation ...
... Frank Bruni of the New York Times profiles Chris Coons, Delaware's Democratic nominee for Senate. CW: finally, someone in the MSM decides to mention the candidate who is actually qualified to serve.
Of "Speedos & Grinding." Nicholas Confessore of the New York Times: New York Republican gubernatorial candidate Carl Paladino defends remarks he made yesterday about gays, says he's not a bigot. CW: you decide. Update: here's a clip:
"Fraud Files" introduces you to Florida's Republican gubernatorial candidate Rick Scott. Sadly, this is an accurate portrait & the scary music is apt:
West Virginia's Democratic Gov. Joe Manchin, who is running for the Senate, answers his opponent's "hicky" ad:
Jane Lorber of the New York Times: "Brave New Films, the documentary film company behind a series of damaging anti-McCain viral videos during the 2008 presidential campaign, has put its sights on Carly Fiorina, the Republican candidate for Senate in California. In the latest of three videos attacking Ms. Fiorina..., several former Hewlett-Packard employees who were laid off during Ms. Fiorina’s tenure as chief executive ... describe her as ruthless and extravagant." (See the earlier videos at the link.):
Stolen Valor. Dan Elliott of the AP: "The Justice Department is battling to save a federal law that makes it illegal to lie about being a war hero, appealing two court rulings that the statute is an unconstitutional muzzle on free speech.... The Stolen Valor Act makes it a crime punishable by up to a year in jail to falsely claim to have won a military medal, whether or not an impostor seeks financial gain."
Russell Gold of the Wall Street Journal: "Surprise inspections of deepwater drilling rigs in the Gulf of Mexico dwindled to about three a year over the past decade, even as exploratory drilling far from shore increased.... And since 2004 federal authorities haven't made a single surprise inspection on any of the 50 or so deepwater natural gas and oil production platforms in the Gulf, despite a law requiring periodic unannounced inspections."
If It's Broke, Don't Fix It. Change Its Name. "... the Minerals Management Service was recently renamed the Bureau of Ocean Energy Management, Regulation and Enforcement. Nice work, Ken Salazar!
John Hamilton of Media Matters on how right-wing talkshow pundits like Glenn Beck & Michael Savage inspire acts of violence against progressives & authorities, including the President. ...
... If you missed it, also see Dana Milbank's column on Beck's violence-inspiring rhetoric, which I linked Saturday. Milbank briefly covers the same ground Hamilton does.
I know it must be true because I read it in the Daily Mail: at the rally in Philadelphia yesterday, someone threw a book at President Obama. In an unrelated incident, police removed a naked man from the crowd. The article has photos of both. CW: I'm sparing you the photos of the naked man, who needs to start working out.
Update: according to The Weekly Standard the man who streaked the rally was named Juan James Rodriguez, & billionaire Alki David promised him $1 million for the stunt. Forget the starving children of the world. This is a great way to spend your money, Mr. David.
You can see the flying book near the end of this video clip:
... Update: "Secret Service spokesman Ed Donovan told Politico that the book lobbing incident was not a threat, but friendly fire. 'The book was thrown by an over-exuberant person,' he said. 'It wasn’t a threatening thing, the person wanted to give the president the book.'"
At long last, C-SPAN has made video of the rally available. President Obama begins speaking about 10 minutes in: