More heavy criticism of Obama’s economic plan

Obama's economic plan is receiving heavy criticism from distinguished economists, including Joseph Stiglitz, James Galbraith, Paul Krugman and many critics from Europe . Many of the critics believe that Tim Geithner and Henry Paulson are far too beholden to Wall Street and the financial sector. The fear is that the toxic debt (much of it based on fraudulent mortgage-backed securities enabled by Wall Street fraud) is being lifted from the banks and dumped onto the U.S. taxpayers because the Obama plan is making the FDIC ultimately responsible. I'm not an economist, but based on these criticisms, this fear seems well-founded. I don't see any reason for Geithner or Paulson to be going to bat for the taxpayers. Most of their friends live on Wall Street. At this same link, you'll see the Nation's view that we need an outsider to clean up this mess. Writer Katina vanden Heuvel even recommend Eliot Spitzer as one of the few people aggressive enough to take on Wall Street before it was a trendy idea. Frankly, I like that idea, based on her stroll down memory lane (pre-Ashley Dupre):

Spitzer took on Wall Street's metastasizing corruption before the meltdown. He defended consumers' and taxpayers' rights. He speaks with passion and clarity about what went wrong and what needs to be done to restore integrity to our system. He is chastened by personal scandal, yet untouched by complicity in Wall Street's public scandals which have obliterated peoples' savings and devastated our country.

What does Spitzer have to say about the economic crisis? That the crisis was not caused by the lack of necessary laws. Rather, the crisis was caused by the lack of good judgment and lack of tenacity to defend the public interest. These things, says Spitzer, cannot be legislated:

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As If We Didn’t Know

Politics dictated FDA policy? Say it isn't so! According to this NY Times piece, the Bush Administration (they get the blame because, after all, he was the Decider) bade the FDA to meddle with contraception when it suited a certain agenda. What I find so delightful about this, as with the Dover PA decision on Intelligent Design in the classroom, is that a Republican judge, this time a Reagan appointee, made the call. The thing is, contraception and all that it implies really ought to be a conservative issue. I mean, really---it has all the hallmarks of the last 60 years of conservative philosophy built on the rights of the individual, the freedom from interference being chief among them. You would think conservatives would have leapt on this a long time ago, staking it out as exemplary of the idea of American Individualism and the freedom to act as a moral agent, dictating one's own destiny and making determinations about how one will live one's life free from government meddling. Handing both men and women the tools---provided by the free market, to boot---to manage their own lives in accordance with their formulation as individuals of the American Dream should have been a slam dunk for conservatives. They should have been cheering for it since the days of Margaret Sanger. What is more, given the attitude of the communist states, which dismissed Sanger and the entire notion of family planning as a bourgeois, capitalist plot to undermine the growth of the collective, this should have been part and parcel of rearing a generation of people cumulatively opposed to Soviet style socialism and collectivism. Everything about the Choice movement smacks of good ol' fashion American Values! It is the perversity of the debate that is ironic, that it should be those who are castigated as liberal soldiers in the march to socialism and its destruction of all things individualist and true blue American who are the champions of the idea that people ought to have full say in the when and if of having children. How did this happen?

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MIT votes open-access regarding scientific papers

According to Wired, Scientific publishing might have just reached a tipping point, thanks to a new open access policy at MIT. . . [MIT's] faculty voted last week to make all of their papers available for free on the web, the first university-wide policy of its sort. MIT's Hal Abelson argued that this move "changed the power dynamics between scientific publishers and researchers." He pointed out that publishers "have been reluctant to give up control of the informational resources they have." Open access advocates have argued that "the current scientific publishing paradigm is broken because publishers control the scientific record, not academics"

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If you dig a hole straight down, where would you end up?

If you dig a hole straight down, where will you end up? I live in Missouri. I was always told that I would end up in China. Not true. For that to happen, I would need to start digging my hole in Argentina, not in Missouri. How do I know? I used an antipode finder.

Continue ReadingIf you dig a hole straight down, where would you end up?