Bankster agitprop

ZeroHedge has earned a spot in my RSS feed. A diverse group of mostly pseudonymous bloggers who consistently produce excellent financial reporting, many times breaking scandals and should-be scandals before the mainstream media. They focus on the themes of intrigue in the world of high finance, corruption, politics, and the nexus where those areas intersect. Over the past month or so, I've noticed an increasing amount of visual propaganda coming from ZeroHedge, and some of it is quite amusing. For the latest entry, they lampoon the news that Angelo Mozilo (the bankster behind the collapse of Countrywide financial) is going scott-free. Here's some background on Mozilo, from the New York Times:

The conclusion by prosecutors that Mr. Mozilo, 72, did not engage in criminal conduct while directing Countrywide will likely fuel broad concerns that few high-level executives of financial companies are being held accountable for the actions that led to the financial crisis of 2008.

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We Are Not Parts

I’ll admit up front that I’m shooting from the hip here. There are many aspects to what is happening in Wisconsin right now with parallels to several past instances in the country in the fight over workers’ rights, unions, and moneyed interests, but I frankly don’t have the time to research them all right now and get something up before it all comes to a head. Isn’t it interesting, though, that we are collectively cheering what is happening in the Middle East right now and something similar is happening right here and people don’t seem to be paying attention to what’s at stake? I grant you, it’s a stretch. But on principles, not so much. We’re talking about who has the right to speak to power and over what. The protesters in Madison aren’t having their internet access and phone service pulled and it’s doubtful the military will be called in, but on the other hand the Wisconsin state police are being asked to go get the now-labeled Wisconsin 14 and bring them back to the state capitol to vote on something that is clearly a stripping of the right of petition and assembly. So this can become very quickly a constitutional issue and that’s scary, because right now the Supreme Court has been decidedly against workers’ rights. Governor Scott is at least being clear. I’ll give him credit, he’s not ducking questions about what he’s trying to do. Wisconsin, like many states, has a budget crisis. He’s already gotten concessions from the unions, a lot of money. The unions have not balked at doing their civic duty in terms of agreeing to pay cuts, freezes on raises, and some concessions on benefits to help the state meet its budgetary responsibilities. But he’s going further and asking that all these unions be stripped of their collective bargaining abilities in order to make sure they never again demand something from the state that the legislature or the governor believes they don’t deserve. In other words, Governor Scott doesn’t ever want to have to sit down and ask them for concessions ever again—he wants to be able to just take what he wants. [More . . . ]

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The ongoing shame of Guantanamo

Guantanamo has become a recruiting tool for our enemies. The legal framework behind Guantanamo has failed completely, resulting in only one conviction. President Bush’s own Secretary of Defense, Robert Gates, wants to close it. Former Secretary of State Colin Powell, wants to close it. The first step to reclaiming America’s standing in the world has to be closing this facility. As president, Barack Obama will close the detention facility at Guantanamo. He will reject the Military Commissions Act, which allowed the U.S. to circumvent Geneva Conventions in the handling of detainees. He will develop a fair and thorough process based on the Uniform Code of Military Justice to distinguish between those prisoners who should be prosecuted for their crimes, those who can’t be prosecuted but who can be held in a manner consistent with the laws of war, and those who should be released or transferred to their home countries. (source- PDF)
That's the campaign trail rhetoric from Candidate Obama. I liked the stance of Candidate Obama on this issue, it's a shame that President Obama sees things so differently.

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Read more about the article De-heroification … dispelling some Reagan myths

De-heroification … dispelling some Reagan myths

Now that the hoopla of February's first weekend has faded, let’s hope the deification process fades as well. It must have been such a downer for the Reaganites and their 100th birthday celebrations to have to compete with the NFL and the most watched Super Bowl ever…the gall to schedule such an event on the holiest of days! Amidst all the reminiscing and nostalgia, I did happen to see a few articles not as admiring, such as Michael Kinsley's on Slate. I like this part:

In the economic sphere (discussed in last week's column), the Reagan hagiographers give him credit for things he intended that never happened, such as smaller government. On the world stage, they credit him for things he never intended that did happen.
I'm not going to get into the myriad of philosophical elements of Reagan's legacy on what he did and didn't do and what gets attributed correctly or not. I don't have the time, or the inclination, and there are a host of Gipper love books and a couple like Will Bunch's Tear Down This Myth: How the Reagan Legacy Has Distorted Our Politics and Haunts Our Future for your reading pleasure. It's human nature to see things from one's too often myopic viewpoint and human nature to remember things they way we want, to the point of manufacturing memories that just aren't true. Such is the case with Reagan and that nostalgia. Longing for the days that never were. And the political right and its Murdoch media arm are very good at enhancing the myth that is the goal of the Reagan Legacy Project, "recalling" those good old days of Reagan. Truth or not, there are several topics that are now commonly tied to Reagan's legacy; myths of smaller government, lower taxes, less spending. And most people have no idea how much the debt and deficit grew under Reagan. The military has a nice term known as BLUF - which stands for Bottom Line Up Front. This is going to get tedious, so I'll cut to the chase:
In raw numbers not adjusted for inflation, Reagan increased federal spending by $466B (69%) over what he inherited, averaged a %177B deficit (+180%), added $1.40 trillion to the debt (+178%), enjoyed a pretty substantial increase in the GDP (+77%), but increased the debt to GDP ratio by 15%. Even adjusted to a FY2005 baseline to account for inflation, Reagan still increased federal spending by 22%, averaged a deficit that was 99% more than Carter's average, increased the public debt by 100%, and as the adjusted GDP increase was only 28%, that 15% increase in debt to GDP was a lot more substantial. Reagan added 13,000 non-defense federal employees - the IRS grew despite his wishes. (Clinton decreased the non-defense federal workforce by 99,000.)
I'll deal with each piece individually, but that's it in a nutshell. If you want to know more and how I determined this, read on...

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Faith is Evolving, but Toward What?

As Darwin Day approaches (February 12), it is obvious that times are changing. America may be getting ready to face the Enlightenment, only a few centuries after our founders tried to encapsulate its principles in our government. On HuffPo, Paul Pardi recently wrote Religion is Evolving Before Our Eyes, about how American Fundamentalism and even Protestantism in general is suffering from ubiquitous communication. Few kids are exposed to only one point of view any more, so they are more likely to spot the discomforting inconsistencies of any given dogma. Small churches are closing their doors for lack of parishioners, and mega-churches pander to the basest prejudices just to pay the bills. But on NPR, in the wake of Obama's "Sputnik Moment" comment, Ursula Goodenough wrote It's Time For A New Narrative; It's Time For 'Big History' as a plea to create a more evocative narrative for science, to better win hearts to engage their minds. This is a real problem, as those best trained to understand an issue are rarely well equipped to explain it from the ground up. We need Sagans and Tysons for every school district; those who can evoke the excitement of understanding the universe. More and more people are turning away from their ancestral religions. Too many toward New Age woo, and some toward rationality. So the marketing arms of the churches work feverishly. They know that rational families tend to stay that way, but woo begets woo, and can be won back to the fold. They tirelessly try to pass laws to insert a religious wedge in science and history classes. Several states currently have bills pending to make it harder to teach 19th and 20th century biology or geology by inserting stories from ancient texts that contradict every discovery of the last 200 years. Here is a link with a list of current bills to establish anti-evolution state laws. Missouri, Kentucky, New Mexico, and other states all have at-risk public school syllabi. This may be a desperate last gasp of Fundamentalist anti-intellectualism. Or their fast grasp of schools could succeed, and leave America behind as other nations quickly accept the progressive mantle we are letting slide from our shoulders. One could see this as the epic battle of the end times. But it is not the world ending, but an ancient and arguably obsolete world view. But the battle may be a messy one. The forces of ignorance are tireless and prolific. After all, an unreasoning populace is easier to lead.

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