Why 69 is obscene.

According to a new report by Pew Charitable Trusts, the median length of the list of disclosures that you will be presented when you open a new checking account is 69 pages.

ƒFinancial institutions do not summarize important policies and fee information in a uniform, concise, and easy-to-understand format that allows customers to compare account terms and conditions. The median length of bank checking account disclosure statements has decreased, but is still cumbersome at 69 pages. For credit unions, the median length is 31 pages. Although shorter, credit union disclosures often do not include information that would allow a customer to compare account fees, terms, and conditions.

On a related note, the Consumer Financial Protection Bureau (CFPB) will be making its complaint database public today. The Washington Post indicates the importance of this data:
Complaints are the primary way that most consumers interact with the new agency. The CFPB said it has received more than 45,000 in the year since the bureau was launched. How it handles those complaints — and how much it makes public — has been a source of tension between the agency and financial industry groups.

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Glenn Greenwald: The presence of military leaders makes journalists stupid

You'll need to look long and hard to find a journalist who, while interviewing a U.S. military leader, takes that leader to task. Glenn Greenwald offers a recent example of a journalist hero-worshiping a military leader instead of practicing real journalism: This incident involves Scott Pelley (of Sixty Minutes) pretending to interview Leon Panetta. Unfortunately, this phenomenon of pretend-journalism is not unusual:

There’s no effort even to pretend they’re doing journalism. They just proudly put it right out there: we’re going to spend the next 15 minutes paying homage to your government leaders and their war-fighting machine.

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The remedy for a very bad reputation: money.

What do you do if 10,000 of your own people have been killed in your brutal crackdown, which is broadcast worldwide? According to this article by the NYT, you hire a sophisticated PR firm and get your pretty wife out front:

In March 2011, just as Mr. Assad and his security forces initiated a brutal crackdown on political opponents that has led to the death of an estimated 10,000 Syrians, Vogue magazine ran a flattering profile of the first lady, describing her as walking “a determined swath cut through space with a flash of red soles,” a reference to her Christian Louboutin heels. Fawning treatment of world leaders — particularly attractive Western-educated ones — is nothing new. But the Assads have been especially determined to burnish their image, and hired experts to do so. The family paid the Washington public relations firm Brown Lloyd James $5,000 a month to act as a liaison between Vogue and the first lady, according to the firm.

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Ralph Nader on Obama’s drone wars

Ralph Nader asks why we aren't hearing an outcry by lawyers, whose duty it is to be the first responders when a politician shreds the Constitution.

The drones have killed civilians, families with small children, and even allied soldiers in this undeclared war based on secret “facts” and local grudges (getting even). These attacks are justified by secret legal memos claiming that the president, without any Congressional authorization, can without any limitations other than his say-so, target far and wide assassinations of any “suspected terrorist,” including American citizens. The bombings by Mr. Obama, as secret prosecutor, judge, jury and executioner, trample proper constitutional authority, separation of powers, and checks and balances and constitute repeated impeachable offenses. That is, if a pathetic Congress ever decided to uphold its constitutional responsibility, including and beyond Article I, section 8’s war-declaring powers. ... Sadly, the bulk of our profession, as individuals and through their bar associations, has remained quietly on the sidelines. They have turned away from their role as “first-responders” to protect the Constitution from its official violators. [The New York Times recently] reported that a weekly role of the president is to personally select and order a “kill list” of suspected terrorists or militants via drone strikes or other means. The reporters wrote that this personal role of Obama’s is “without precedent in presidential history.” Adversaries are pulling him into more and more countries – Pakistan, Yemen, Somalia and other territories.

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