* On Sunday morning two AP headlines caught my attention – “It’s Race Against Time To Save Ike Stalwarts” and “Feds, Wall Street Race to Save Lehman.” The first headline refers to the humanitarian efforts to save human beings in the aftermath of a natural disaster – hurricane Ike, that devastated large parts of Texas. The second headline refers to a man-made disaster - the potential bailout of another financial institution that has been managed by seedy and greedy millionaires. They were enabled by an incompetent federal government and an impotent congress blinded by the campaign contributions and lobbyist gifts funded by these same financial mega corporations now facing bankruptcy.
A competent parent knows that a teenager needs guidance and oversight – the same constrictions needed by commercial institutions that are myopically consumed by profits. This greed on steroids is devoid of ethics, integrity and the concept of the common good. We are now told that it is in our interest to use billions of dollars of taxpayer money to keep private companies like Bear Stearns and Lehman and quasi governmental companies like Fannie Mae and Fannie Mac from being flushed into oblivion. These same companies who fought every suggestion at oversight and regulation, whose policies consciously screwed over so many Americans, are now asking the American taxpayer for handouts. Neither the executive branch nor congressional branch of the government exercised their fiduciary responsibility to the American people.
Monday morning headlines: BLACK MONDAY; World Stocks Sink; U.S. Stocks Set to Sink at Open; Merrill Sells Itself to Bank of America; Lehman Files for Bankruptcy; FED Takes Emergency Steps; Insurance Giant AIG Scrambles for Cash; Banks Roll Out $70 Billion Loan Program. I am waiting for the next Republican politician to extol free enterprise free of regulation. I am waiting for the next Democratic politician to exhibit a patriotic spine and tell the American people that they will fight for legislation to achieve two goals: real ethics reform that actually minimizes the influence of lobbyists; public financing of elections so that the legislators are not in the pockets of special interest groups and so that legislators are not spending so much of their time trolling for campaign contributions from banks, insurance companies, oil and gas companies, insurers and pharmaceutical companies. Any congressman that does not support such measures should be thrown the hell out of office.
Monday afternoon – McCain tells a rally in Florida, "The fundamentals of our economy are strong." If this is a result of McCain listening to his economic advisors they are bigger derriere orifices than Bush’s financial team.
* Why Black Monday occurred:
1.) Incomes shrank for most Americans over the last expansion.
2.) But Americans kept spending thanks to a mammoth increase in household debt.
3.) To increase the amount of debt in the system, lending standards were lowered.
4.) Lowered lending standards have led to a higher default rate from borrowers.
5.) Higher default rates have lowered the value of all the collateral backed by mortgages.
6.) Lowered collateral values have killed the balance sheets of literally every major financial company.
So wrote Hale Stewart at the Huffington Post. He provides details about each of the above points in an interesting and informative article. Stewart’s piece and other writings this week would lead one to conclude that a Republican president, a Republican congress and an Alan Greenspan-led Federal Reserve became too cozy with America’s major financial institutions and that created a perfect storm for financial disaster. Their arrogance and greed led them to believe our current crisis could not happen. I suggest a read of this article to determine if there is merit to John McCain’s claim that the fundamentals of our economy are strong.
* Six alarm fire – On Tuesday John McCain called “for a high-level commission to study the current economic crisis and claimed that a corrupt and excessive Wall Street had betrayed American workers.” A commission may have some merit even if we know what happened. What was missing in McCain’s exhortation was mention of the commission by him and his Republican Party being a party to this debacle. It is reminiscent of the pyromaniac that sets a blaze and then calls for the Fire Department. Perhaps the American voter will begin to understand that a McCain presidency is akin to appointing the arsonist the Fire Chief.
* The pieces of the puzzle continue to come together – From the Progress Report: McCain and his running mate, Gov. Sarah Palin (R-AK), published an op-ed in the Wall Street Journal (on September 9) that called lobbyists "primary contributors" to the crisis. One of these lobbyists though, is McCain's own campaign manager, Rick Davis, who "served as president of an advocacy group led by Fannie Mae and Freddie Mac that defended the two companies against increased regulation." Davis challenged even the smallest reform measures intended to make sure that Fannie Mae and Freddie Mac were being held more accountable for their actions. This helped the mortgage giants, "consistently [beat] back congressional efforts to increase oversight, even after a major accounting scandal in 2003 resulted in a $400 million fine for Fannie.
In an effort to provide full disclosure it should be noted that Rick Davis is only one of 120 lobbyists working for the McCain campaign. That McCain is one heck of a lobbyist basher!
Also earning special mention is the economic advisor to McCain, former Senator Phil Graham. While a senator and then as a lobbyist Graham opposed any legislation that would have regulated financial institutions – regulations that may have averted the financial crisis gripping America and the international community. I wrote about Mr. Graham in July of this year. His hands are as dirty as his pockets are full.
The Republican Party and the lobbyists took their relationship to a new level at the beginning of the Bush administration. It was spirited by then Senator Rick Santorum (R-PA) who led the K Street project - a marriage od Republican politicians and lobbyists that threw open the doors of congressional access to the likes of Jack Abramoff, former ultra lobbyist and current resident of a federal prison. Santorum was rejected for re-election in 2006 but the effect of his efforts to put the federal government up for sale continues today.
* Speaking of money ill-spent – George Bush has given Pakistan billions of dollars to be our ally in the global war against terrorism. This week the Pakistani government ordered its troops to fire on the U.S. military if it conducts raids in Pakistan against terrorists and their supporters. Yes, the world is a complicated place. Let us hope that the next president has the ability to navigate such treacherous terrain. Someone who has not rubber-stamped Lost George.
* What is an over-worked secretary to do? - Speaking last week to the annual Conference of the White House Initiative on National Historically Black Colleges and Universities, Secretary of State Condoleezza Rice admitted that there are too few African-Americans in her agency. "I can go into a whole day of meetings at the Department of State -- and actually rarely see somebody who looks like me," Rice said. "And that is just not acceptable." Since January 6, 2005 Rice has been in her current position working around the clock to cover the errors of her boss. There simply has been no time available or inclination to change the State Department from looking like the Republican National Convention.
* You would too - Thirty-two of the nation’s leading historians have sent letters to congressional leaders calling on them to strengthen the Presidential Records Act (PRA). They are concerned that as the Bush administration prepares to leave office they are ready to expunge the record on its tenure. Expunging the record makes perfect sense. Their “record” is one of incompetency, lies and illegal activities. One would have to be in a vegetative state to not try to hide such documentation. Destroying the records will also help keep some of them out of prison.
* Last weekend in Andover, MA legal scholars, lawyers, and activists came together for "JUSTICE ROBERT H. JACKSON CONFERENCE: PLANNING FOR THE PROSECUTION OF HIGH LEVEL AMERICAN WAR CRIMINALS. As the insulated and self-protected members of the Bush administration leave the White House in January 2009 I am surer that they will be looking over their shoulders than they were “certain” that Iraq had weapons of mass destruction. Thousands of Americans were culpable in the use of torture, breaking the law and the ever-present “cover up.” Unlike a tragic Italian opera this will not be over when the fat lady sings the aria Arevaderchi.
* Get your free score card - If you are having difficulty keeping up with the McCain lies a new website sponsored by the Democratic Party will help you. The name of the site is Count the Lies - McCainPedia.org. This website will need a server capable of handling substantial gigabytes of memory.
* That Grand Old Party – The Michigan Republican Party is attempting to question voters’ eligibility whose homes have been foreclosed. “According to voting rights experts a foreclosure notice does not mean that a person is no longer a resident -- making it an inadequate basis for a challenge.” I imagine that GOP strategists have strategized that more Democrats have homes that have been foreclosed than Republicans. Thirteen U.S. Senators have petitioned the Justice Department to prevent disenfranchisement of voters who have lost their homes.
* A wealth of insight – NY Times op-ed columnist Frank Rich once again offers a cogent and perceptive analysis of the presidential race. I highly recommend a read of this in-depth article for which a summarization would not do it justice. I will note his concluding recommendation to the Democratic presidential nominee: If Obama “focuses voters on the 2008 McCain, the Palin question will take care of itself.”
* "No nation is permitted to live in ignorance with impunity."
Thomas Jefferson
Showing posts with label Pakistan. Show all posts
Showing posts with label Pakistan. Show all posts
Tuesday, September 16, 2008
Sunday, November 11, 2007
11/11/07
*Make no mistake – On November 2, 2007 four former JAG officials (Admirals and Generals) wrote a letter to Sen. Patrick Leahy stating their views about waterboarding. You can read the letter in its entirety. Excerpts: “We write because this issue above all demands clarity: Waterboarding is inhumane, it is torture, and it is illegal... Abu Ghraib and other notorious examples of detainee abuse has been the product, at least in part, of a self-serving and destructive disregard for the well-established legal principles applicable to this issue. This must end...Waterboarding detainees amounts to illegal torture in all circumstances. To suggest otherwise - or even to give credence to such a suggestion - represents both an affront to the law and to the core values of our nation.” Many of us in America have waited a long time to see respected individuals address the obfuscations and fabrications committed by our country’s highest leadership. My question for these former JAGs is similar to the one I have for Colin Powell: “Where have you been”? Abu Ghraib, Guantanamo, and the use of torture approved by Bush/Cheney/Gonzales did not begin last month. Where have you been?
* Verschärfte Vernehmung – This German phrase translates as “enhanced interrogation”. In an article by Andrew Sullivan at The Atlantic he says,” It's a phrase that appears to have been concocted in 1937, to describe a form of torture that would leave no marks, and hence save the embarrassment pre-war Nazi officials were experiencing as their wounded torture victims ended up in court. The methods ... are indistinguishable from those described as "enhanced interrogation techniques" by the president (Bush).” Achtung! This article is a must read for an understanding of the despicable road this administration has chosen to travel. It affects the moral structure of America, the actions of other countries and the safety of the men and women who serve in our military.
*Imported toys ~ Not child’s play - With the amount of toxic lead recently found in Barbie Doll accessories it seems safe to say that Ken will be keeping his pants on. In a related matter, Ken denies that he gave Aqua Dots to Barbie for her birthday. Aqua Dots is a children’s toy just recalled for containing a chemical similar to GHB, also known as the date rape drug. When ingested, it metabolizes into GHB. At least 6 children in the U.S. and 3 in Australia have been hospitalized. The dangerous chemical was used to coat the beads because it is one-quarter the price of the chemical normally used for such purposes. One wonders what role U.S. importers have in these dangerous products due to price pressures they impose on Chinese producers. Do you yearn for the simple days when toys were made in America and companies responsibly inspected their products BEFORE they were put into distribution?
*Democracy & War on Terror debacles ~ Iraq, Afghanistan and Pakistan - The NY Times observes in an article “Straying Partner Leaves White House in a Lurch” that Pakistan could become a disaster for Bush and the Middle East.” For more than five months the United States has been trying to orchestrate a political transition in Pakistan that would manage to somehow keep Gen. Pervez Musharraf in power without making a mockery of President Bush’s promotion of democracy in the Muslim world... General Musharraf’s move to seize emergency powers and abandon the Constitution (on Nov. 2nd) left Bush administration officials close to their nightmare: an American-backed military dictator who is risking civil instability in a country with nuclear weapons and an increasingly alienated public.” A further complication is the fact that remote parts of Pakistan have been a safe haven for al Qaeda, the Taliban and probably Osama bin Laden. America and the Middle East region approach a new level of danger. The Middle East is an amalgam of diverse and conflicting ideologies irritated by centuries of hatred, distrust and religious extremism, and festered by decades of questionable American foreign policy, often fueled by “oil”. Almost seven years ago Bush and Cheney entered the fray and at almost every turn they exasperate the volatile situation. Their Iraq and Afghanistan policy has actually increased terrorism and done nothing to advance democracy. The situation in Pakistan may present even greater dangers. In a statement taken from the George W. Bush playbook, Musharraf said that he imposed the state of emergency to help fight Islamic militancy. Some would call it playing the boogeyman card.
*Engaging candidates – The blog crooksandliars.com recently identified two most interesting people involved in politics who embrace progressive ideas:
~Dennis Shulman is running for representative in northern New Jersey. He is a progressive Democrat. He is also a rabbi, a clinical psychologist, an author, a drummer and a blind man. His campaign motto is, “We can do better.” His opponent Scott Garrett is the personification of Bush politics and philosophy. The campaign will be a provocative match-up highlighting contrasts in today’s American political ideology. Howie Klein at firedoglake.com does an excellent write-up of Shulman that is worth reading.
~Doris Haddock recently ran for the Senate in New Hampshire. She is 94. Three years ago she walked from California to NH to highlight the need for campaign finance reform. In a serendipitous turn of events she became a candidate with few resources and much courage running against a two-term incumbent with significant campaign dollars. HBO will be airing a documentary about this amazing woman titled “Run Granny Run” – a true life story about how everyday people can do extraordinary things. You can learn more about Ms. Haddock and details about the air times at this HBO site.
*Coffee break takes on new meaning – Over 2% of the Ethiopian population is infected with HIV Aids and over 7% in the capitol, Addis Ababa. In a new initiative to fight the spread of this disease, coffee scented and colored condoms are being marketed around the country. Ethiopians have a coffee mania and it is hoped that this approach will increase the use of condoms, a proven method to reduce the spread of Aids. The promotion of abstinence in preventing unwanted pregnancies and communicable diseases in America and around the world has been a dismal failure. We should applaud innovation that impacts these serious problems.
*Best of the less bad – Sens. Diane Feinstein (D-CA) and Chuck Schumer (D-NY) (and 4 other Democrats) voted for Michael Mukasey for Attorney General because “it is the best nomination they could expect from President Bush”. This mentality does not serve our country. Instead of seeking the best leadership available our representatives settle for better than worse. It is one of the many reasons why this country has almost no respect for Congress. Its approval ratings are lower than the president. An interesting side note is that the 53 senators voting for Mukasey were the fewest ‘yeas” for an attorney general since 1952.
*Environmentally we are one world – Coal is inexpensive and abundant and it has fueled the economic growth of China and India. Unfortunately, the burning of coal has a tremendous down side. “It takes five to 10 days for the pollution from China's coal-fired plants to make its way to the United States, like a slow-moving storm. It shows up as mercury in the bass and trout caught in Oregon's Willamette River. It increases cloud cover and raises ozone levels. And along the way, it contributes to acid rain in Japan and South Korea and health problems everywhere from Taiyuan to the United States.” Under Bush the official U.S. policy on domestic and international environmental problems has been to pretend they do not exist. I doubt that I will ever understand this administration’s avoidance of the fact that they have children and grandchildren who will have to live with the consequences of the world’s rapidly deteriorating environment? In a new report the American Academy of Pediatrics said, “Global warming is likely to disproportionately harm the health of children, and politicians should launch "aggressive policies" to curb climate change”. Unfortunately, the few myopic fools who don’t get it are the ones setting policy.
The “in” crowd – Hedge funds are the relatively new way for wealthy entrepreneurs to invest in companies. They have been extremely profitable. However, through a loophole in the tax structure, the managers of these funds pay about a 15% capital gains tax instead of an income tax rate that should be in the 35% range. Billionaire Warren Buffet recently observed how ridiculous it is that he pays only 18% on his taxable income. When discussions have arisen to repair the tax laws, these new titans of industry have mustered their financial resources and inundated legislators with lobbyists and campaign contributions. Senator Chuck Schumer is the recipient of much of this attention. He has now decided he will oppose higher tax rates for hedge funds and private-equity firms. This is another example where the wealthy dominate the influence on legislators to the detriment of most Americans. Our elected leaders frequently respond like Pavlov’s dogs when they sniff the odor of money. Long-term senators and representatives too often become part of the problem rather than the solution because they have totally sold their independence to campaign contributors. The elections of 2006 brought some fresh integrity to congress in the likes of Webb and Tester and McCaskill but there is still much change needed if our country is to move forward in a responsible manner. I have often noted the need for public financing of elections. Perhaps it is also time for the U.S. to examine the merits of term limits for congressmen.
*Elect to improve the electoral process - The non-partisan group Common Cause has a petition to congress that you can sign demanding an immediate overhaul of our campaign finance system.
*Bush Galloping to history – “Bush reached an unwelcome record. By 64%-31%, Americans disapprove of the job he is doing. For the first time in the history of the Gallup Poll, over 50% say they "strongly disapprove" of the president. Richard Nixon had reached the previous high, 48%, just before an impeachment inquiry was launched in 1974.” I suspect the perception of Bush will continue to decline as the American people learn more about what he and his administration has perpetrated on this country.
*Addict in denial – The House of Representatives and the Senate voted to override a Bush veto of a water projects measure that included spending programs for health and labor. The President said he vetoed the bill because of the cost. I am reminded of a formers radio sports talk host. Mixed in with his sports commentary were barbs aimed at illegal drug users. The drug commentaries and his job ended when he was arrested for buying heroin in a neighborhood infamous for street sales of drugs. Bush has had no problem spending the surplus he inherited from Clinton. He ignores the consequences of the huge deficit he has created as he continues to ask congress for billions of dollars more for Iraq. As long as Bush gets his “Iraq” crack fix, spending is not an issue for him. Just don’t mention health and welfare for his citizens and repairing the infrastructure for his country.
*”Integrity” is a four-letter word - Last week I noted that the head of the Consumer Product Safety Commission (CPSC) took frequent expensive trips that were funded by the groups she was responsible for overseeing. In her self-defense she claimed that the travel was approved by an ethics official. The Washington Post is reporting, “In several cases, the agency made travel bookings before the trips were approved. For another industry-financed trip detailed in internal agency documents, written legal approval came after the trip.” The article points out that on at least one of these trips the “ethics official” was a member of the travel party. “R. David Pittle, who was appointed by President Richard M. Nixon to help found the agency in 1973 and served as a commissioner until 1982, said: "The CPSC is the only thing standing between a consumer and a potentially dangerous product. . . . For me, it doesn't matter if these trips and gratuities pass some legal test -- it's highly inappropriate public policy." It will be a refreshing change when public interest becomes a significant part of public policy.
*Hooray for the FCC (this is not a typo) – It appears that we are about to see a government action that will be to our benefit. The Federal Communications Commissions (FCC) “is preparing to impose significant new regulations to open the cable television market to independent programmers and rival video services after determining that cable companies have become too dominant in the industry.” For quite some time cable companies have been successful in lobbying the government to limit competition. Of course, we pay the price. I have seen articles that in France, where there is greater competition in the cable market, the average cost for telephone, cable TV and internet access combined is $44 per month. That is less than half of what I pay Comcast and I do not have the phone service. A consumer-friendly federal agency seems odd but it is certainly welcome.
*Boos for the FCC – The FCC has an ambitious plan to relax the decades-old media ownership rules, including repealing a rule that forbids a company to own both a newspaper and a television or radio station in the same city. I recently noted that a vibrant democracy requires the free exchange of diverse ideas. Many feel that the current level of media consolidation has not been a healthy development in this regard. Allowing further consolidation of media ownership would be a grievous error.
*A Family Affair – President Bush’s education initiative “No Child Left Behind” has had questionable success but it ensured that his brother Neil moved forward financially. “The inspector general of the Department of Education has said he will examine whether federal money was inappropriately used by three states to buy educational products from a company, Ignite Learning of Austin, TX, owned by Neil Bush... critics in Texas contend that school districts are buying Ignite’s signature product, the Curriculum on Wheels, because of political considerations... The product, they said, does not meet standards for financing under the No Child Left Behind Act”. Citizens for Responsibility and Ethics in Washington stated that the products do not meet “scientifically proven methods”. Investors in Ignite Learning include the President’s parents. If memory serves me, when mother Barbara Bush donated money to Katrina victims the funds were earmarked for educational software produced by son Neil’s company. One could say of the Bush family that they left America behind.
* “In a time of universal deceit, telling the truth becomes a revolutionary act.”
George Orwell (pen name of Eric Arthur Blair), 1903-1950, novelist, political and cultural commentator
* Verschärfte Vernehmung – This German phrase translates as “enhanced interrogation”. In an article by Andrew Sullivan at The Atlantic he says,” It's a phrase that appears to have been concocted in 1937, to describe a form of torture that would leave no marks, and hence save the embarrassment pre-war Nazi officials were experiencing as their wounded torture victims ended up in court. The methods ... are indistinguishable from those described as "enhanced interrogation techniques" by the president (Bush).” Achtung! This article is a must read for an understanding of the despicable road this administration has chosen to travel. It affects the moral structure of America, the actions of other countries and the safety of the men and women who serve in our military.
*Imported toys ~ Not child’s play - With the amount of toxic lead recently found in Barbie Doll accessories it seems safe to say that Ken will be keeping his pants on. In a related matter, Ken denies that he gave Aqua Dots to Barbie for her birthday. Aqua Dots is a children’s toy just recalled for containing a chemical similar to GHB, also known as the date rape drug. When ingested, it metabolizes into GHB. At least 6 children in the U.S. and 3 in Australia have been hospitalized. The dangerous chemical was used to coat the beads because it is one-quarter the price of the chemical normally used for such purposes. One wonders what role U.S. importers have in these dangerous products due to price pressures they impose on Chinese producers. Do you yearn for the simple days when toys were made in America and companies responsibly inspected their products BEFORE they were put into distribution?
*Democracy & War on Terror debacles ~ Iraq, Afghanistan and Pakistan - The NY Times observes in an article “Straying Partner Leaves White House in a Lurch” that Pakistan could become a disaster for Bush and the Middle East.” For more than five months the United States has been trying to orchestrate a political transition in Pakistan that would manage to somehow keep Gen. Pervez Musharraf in power without making a mockery of President Bush’s promotion of democracy in the Muslim world... General Musharraf’s move to seize emergency powers and abandon the Constitution (on Nov. 2nd) left Bush administration officials close to their nightmare: an American-backed military dictator who is risking civil instability in a country with nuclear weapons and an increasingly alienated public.” A further complication is the fact that remote parts of Pakistan have been a safe haven for al Qaeda, the Taliban and probably Osama bin Laden. America and the Middle East region approach a new level of danger. The Middle East is an amalgam of diverse and conflicting ideologies irritated by centuries of hatred, distrust and religious extremism, and festered by decades of questionable American foreign policy, often fueled by “oil”. Almost seven years ago Bush and Cheney entered the fray and at almost every turn they exasperate the volatile situation. Their Iraq and Afghanistan policy has actually increased terrorism and done nothing to advance democracy. The situation in Pakistan may present even greater dangers. In a statement taken from the George W. Bush playbook, Musharraf said that he imposed the state of emergency to help fight Islamic militancy. Some would call it playing the boogeyman card.
*Engaging candidates – The blog crooksandliars.com recently identified two most interesting people involved in politics who embrace progressive ideas:
~Dennis Shulman is running for representative in northern New Jersey. He is a progressive Democrat. He is also a rabbi, a clinical psychologist, an author, a drummer and a blind man. His campaign motto is, “We can do better.” His opponent Scott Garrett is the personification of Bush politics and philosophy. The campaign will be a provocative match-up highlighting contrasts in today’s American political ideology. Howie Klein at firedoglake.com does an excellent write-up of Shulman that is worth reading.
~Doris Haddock recently ran for the Senate in New Hampshire. She is 94. Three years ago she walked from California to NH to highlight the need for campaign finance reform. In a serendipitous turn of events she became a candidate with few resources and much courage running against a two-term incumbent with significant campaign dollars. HBO will be airing a documentary about this amazing woman titled “Run Granny Run” – a true life story about how everyday people can do extraordinary things. You can learn more about Ms. Haddock and details about the air times at this HBO site.
*Coffee break takes on new meaning – Over 2% of the Ethiopian population is infected with HIV Aids and over 7% in the capitol, Addis Ababa. In a new initiative to fight the spread of this disease, coffee scented and colored condoms are being marketed around the country. Ethiopians have a coffee mania and it is hoped that this approach will increase the use of condoms, a proven method to reduce the spread of Aids. The promotion of abstinence in preventing unwanted pregnancies and communicable diseases in America and around the world has been a dismal failure. We should applaud innovation that impacts these serious problems.
*Best of the less bad – Sens. Diane Feinstein (D-CA) and Chuck Schumer (D-NY) (and 4 other Democrats) voted for Michael Mukasey for Attorney General because “it is the best nomination they could expect from President Bush”. This mentality does not serve our country. Instead of seeking the best leadership available our representatives settle for better than worse. It is one of the many reasons why this country has almost no respect for Congress. Its approval ratings are lower than the president. An interesting side note is that the 53 senators voting for Mukasey were the fewest ‘yeas” for an attorney general since 1952.
*Environmentally we are one world – Coal is inexpensive and abundant and it has fueled the economic growth of China and India. Unfortunately, the burning of coal has a tremendous down side. “It takes five to 10 days for the pollution from China's coal-fired plants to make its way to the United States, like a slow-moving storm. It shows up as mercury in the bass and trout caught in Oregon's Willamette River. It increases cloud cover and raises ozone levels. And along the way, it contributes to acid rain in Japan and South Korea and health problems everywhere from Taiyuan to the United States.” Under Bush the official U.S. policy on domestic and international environmental problems has been to pretend they do not exist. I doubt that I will ever understand this administration’s avoidance of the fact that they have children and grandchildren who will have to live with the consequences of the world’s rapidly deteriorating environment? In a new report the American Academy of Pediatrics said, “Global warming is likely to disproportionately harm the health of children, and politicians should launch "aggressive policies" to curb climate change”. Unfortunately, the few myopic fools who don’t get it are the ones setting policy.
The “in” crowd – Hedge funds are the relatively new way for wealthy entrepreneurs to invest in companies. They have been extremely profitable. However, through a loophole in the tax structure, the managers of these funds pay about a 15% capital gains tax instead of an income tax rate that should be in the 35% range. Billionaire Warren Buffet recently observed how ridiculous it is that he pays only 18% on his taxable income. When discussions have arisen to repair the tax laws, these new titans of industry have mustered their financial resources and inundated legislators with lobbyists and campaign contributions. Senator Chuck Schumer is the recipient of much of this attention. He has now decided he will oppose higher tax rates for hedge funds and private-equity firms. This is another example where the wealthy dominate the influence on legislators to the detriment of most Americans. Our elected leaders frequently respond like Pavlov’s dogs when they sniff the odor of money. Long-term senators and representatives too often become part of the problem rather than the solution because they have totally sold their independence to campaign contributors. The elections of 2006 brought some fresh integrity to congress in the likes of Webb and Tester and McCaskill but there is still much change needed if our country is to move forward in a responsible manner. I have often noted the need for public financing of elections. Perhaps it is also time for the U.S. to examine the merits of term limits for congressmen.
*Elect to improve the electoral process - The non-partisan group Common Cause has a petition to congress that you can sign demanding an immediate overhaul of our campaign finance system.
*Bush Galloping to history – “Bush reached an unwelcome record. By 64%-31%, Americans disapprove of the job he is doing. For the first time in the history of the Gallup Poll, over 50% say they "strongly disapprove" of the president. Richard Nixon had reached the previous high, 48%, just before an impeachment inquiry was launched in 1974.” I suspect the perception of Bush will continue to decline as the American people learn more about what he and his administration has perpetrated on this country.
*Addict in denial – The House of Representatives and the Senate voted to override a Bush veto of a water projects measure that included spending programs for health and labor. The President said he vetoed the bill because of the cost. I am reminded of a formers radio sports talk host. Mixed in with his sports commentary were barbs aimed at illegal drug users. The drug commentaries and his job ended when he was arrested for buying heroin in a neighborhood infamous for street sales of drugs. Bush has had no problem spending the surplus he inherited from Clinton. He ignores the consequences of the huge deficit he has created as he continues to ask congress for billions of dollars more for Iraq. As long as Bush gets his “Iraq” crack fix, spending is not an issue for him. Just don’t mention health and welfare for his citizens and repairing the infrastructure for his country.
*”Integrity” is a four-letter word - Last week I noted that the head of the Consumer Product Safety Commission (CPSC) took frequent expensive trips that were funded by the groups she was responsible for overseeing. In her self-defense she claimed that the travel was approved by an ethics official. The Washington Post is reporting, “In several cases, the agency made travel bookings before the trips were approved. For another industry-financed trip detailed in internal agency documents, written legal approval came after the trip.” The article points out that on at least one of these trips the “ethics official” was a member of the travel party. “R. David Pittle, who was appointed by President Richard M. Nixon to help found the agency in 1973 and served as a commissioner until 1982, said: "The CPSC is the only thing standing between a consumer and a potentially dangerous product. . . . For me, it doesn't matter if these trips and gratuities pass some legal test -- it's highly inappropriate public policy." It will be a refreshing change when public interest becomes a significant part of public policy.
*Hooray for the FCC (this is not a typo) – It appears that we are about to see a government action that will be to our benefit. The Federal Communications Commissions (FCC) “is preparing to impose significant new regulations to open the cable television market to independent programmers and rival video services after determining that cable companies have become too dominant in the industry.” For quite some time cable companies have been successful in lobbying the government to limit competition. Of course, we pay the price. I have seen articles that in France, where there is greater competition in the cable market, the average cost for telephone, cable TV and internet access combined is $44 per month. That is less than half of what I pay Comcast and I do not have the phone service. A consumer-friendly federal agency seems odd but it is certainly welcome.
*Boos for the FCC – The FCC has an ambitious plan to relax the decades-old media ownership rules, including repealing a rule that forbids a company to own both a newspaper and a television or radio station in the same city. I recently noted that a vibrant democracy requires the free exchange of diverse ideas. Many feel that the current level of media consolidation has not been a healthy development in this regard. Allowing further consolidation of media ownership would be a grievous error.
*A Family Affair – President Bush’s education initiative “No Child Left Behind” has had questionable success but it ensured that his brother Neil moved forward financially. “The inspector general of the Department of Education has said he will examine whether federal money was inappropriately used by three states to buy educational products from a company, Ignite Learning of Austin, TX, owned by Neil Bush... critics in Texas contend that school districts are buying Ignite’s signature product, the Curriculum on Wheels, because of political considerations... The product, they said, does not meet standards for financing under the No Child Left Behind Act”. Citizens for Responsibility and Ethics in Washington stated that the products do not meet “scientifically proven methods”. Investors in Ignite Learning include the President’s parents. If memory serves me, when mother Barbara Bush donated money to Katrina victims the funds were earmarked for educational software produced by son Neil’s company. One could say of the Bush family that they left America behind.
* “In a time of universal deceit, telling the truth becomes a revolutionary act.”
George Orwell (pen name of Eric Arthur Blair), 1903-1950, novelist, political and cultural commentator
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