I hope the Fed goes after anyone and everyone who was complicit in Madoff's scheme (I sincerely doubt one man could have pulled this off alone), including friends and family members.



I was on the steps of the California Supreme Court last Thursday in a heated shouting match with that psychopath carrying the Dan White Hero sign. I can tell you that this individual (I'm loathe to call him a person) clearly had some mental issues, apart from being stunningly ignorant. He was shouting the usual epithets of "God hates fags" and couldn't stop confusing me as a "fag spreading AIDS" even though my wife - introduced as such - was right next to me.
My refrain was to shout at him repeatedly "You are supporting a murderer!" which eventually drew the attention of pro-Prop 8 supporters who actually turned their attacks on him, driving the psycho away. Or at least driving him away from us.
I can only hope he was met with the same fierce berating he got from us wherever he went.
The United States will get along fine without Freeman and without each and every one of the casualties of this latest hiring cycle. But we will ultimately suffer irreparable damage if we do not reverse this pernicious trend. Further, those who celebrate keeping out Freeman or any others whose views do not align with theirs or who feared his associations would do well to remember that the same kind of criteria can be applied by other groups. The result is not a government of people without conflicts of interest or troubling ties, rather it is a government full of people whose conflicts and ties are with groups powerful enough to protect them. This among other reasons is why I, as a Jew with a memory, was so opposed to the attacks on Freeman. But for the record, the most compelling reason I found for believing Chas Freeman would have been a superb Chairman of the National Intelligence Council was one that seldom came up in all the articles I read. I actually know him.

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WTF Obama?!?
I'm starting to wonder why Obama isn't showing that "flinty Chicago toughness" he brags about.
First he let himself get dragged around by the Republiscums over the Stimulus Bill, now he's letting the AIPAC-controlled Congress (meaning nearly every damn one of them, D or R) shove him around over his appointment of Chas Freeman - to a position that doesn't even require confirmation!
There very possibly goes our last best hope to put a check on the ultra-right wingnuts in Israel, and their agents that apparently do control our government here.
This is a major disappointment.
Read the Article at HuffingtonPost
The percentage of Americans who call themselves Christians has dropped dramatically over the past two decades, and those who do are increasingly identifying themselves without traditional denomination labels, according to a major study of U.S. religion being released today.


By law, the Fed isn't allowed to buy assets -- it can only lend, as lender of last resort. That was a problem for the Bear Stearns bailout, because JP Morgan said it would only buy Bear if someone else assumed responsibility for the crap. Fed came up with this idea to start a shadow company, called a special purpose vehicle (SPVs were how Enron operated, creating "Chewco" and the like named after Chewbacca - the New York Fed called their SPV "Maiden Lane LLC" for name of the street the NY Fed is located on in southern Manhattan). The deal then was JP Morgan put $1 billion into Maiden Lane, the Fed put $29 billion in cash into it. Maiden Lane paid Bear Stearns $30 billion, which went straight back to JP Morgan as this deal happened simultaneously to JP's purchase of Bear. So Morgan got $30 billion in cash ($29 billion net) and the Fed got stuck owning the crap, but was legally only making a loan to Maiden Lane, who was the legal owner (Maiden Lane was incorporated not in NYC, but in Delaware to avoid paying taxes). By the Fed's own accounting - which is very different from a real company's accounting - Maiden Lane has lost $5 billion between its creation and today.

For some great visuals of what a trillion dollars looks like in stacks of $100 bills, there are some great illustrations at this site to help put things in perspective. For instance, this stack below is a trillion dollars. The area in red indicates $50 billion, the amount that Bernie Madoff is accused of ripping off his clients for. (The speck of red to the left indicates an average sized person).



John Conyers (D-MI) [...] is pushing a bill through Congress that will literally ban the open access of these papers, forcing scientists to only publish in journals. This may not sound like a big deal, but journals are very expensive. They can cost a fortune: The Astrophysical Journal costs over $2000/year, and they charge scientists to publish in them! So this bill would force scientists to spend money to publish, and force you to spend money to read them.
Why would Conyers do this? Interestingly, if you look at the bill sponsors, you find that they received twice as much money on average in donations from journal publishers than Congresscritters who don’t sponsor the bill — though to be fair, the total amount is not large. Still, Conyers got 4 times as much.
Interesting.
Ironically, this bill is called The Fair Copyright in Research Works Act, which is much like the
Clean AirClear Skies Act or the Patriot Act, in that it does exactly the opposite of what its name says. This bill is not fair, it puts a burden on scientists and keeps research from being publicly accessible as it should be. I myself rely on things like Astro-ph to do my reporting here; it could become illegal to post papers there for federally-sponsored scientists if this bill is passed.
The brother is going to have to knock off this kind of crap before some of us science-loving populists decide he needs to be brought up on corruption charges of his own.


Four researchers who culled through 50 years of research literature about the psychology of conservatism report that at the core of political conservatism is the resistance to change and a tolerance for inequality, and that some of the common psychological factors linked to political conservatism include:
- Fear and aggression
- Dogmatism and intolerance of ambiguity
- Uncertainty avoidance
- Need for cognitive closure
- Terror management


In two studies led by Assistant Psychology Professor Michael Inzlicht, participants performed a Stroop task – a well-known test of cognitive control – while hooked up to electrodes that measured their brain activity.
Compared to non-believers, the religious participants showed significantly less activity in the anterior cingulate cortex (ACC), a portion of the brain that helps modify behavior by signaling when attention and control are needed, usually as a result of some anxiety-producing event like making a mistake. The stronger their religious zeal and the more they believed in God, the less their ACC fired in response to their own errors, and the fewer errors they made.
At the rally before the California Supreme Court this morning, I heard a religious asshole with a bullhorn this shouting at someone from his own side saying:
"People need to stop thinking for themselves, and start reading the Bible instead.
If [you] have an opinion different from someone else's [sic], you should keep your mouth shut." (Oblivious to the irony that he was shouting this through a bullhorn.)

I've seen a lot of dumb news reports in my life, but I'm not sure anything can quite match this one from ABC News. The premise of the report is this: Barack Obama plans to raise taxes on people who make more than $250,000, so the reporter has gone and found people who earn a little more than that sum who plan to decrease their income so that they come in underneath the magic line.
Now, the obvious objection here is that the tax code doesn't work that way. A tax increase affects the marginal dollar that a person gains. That's means only every dollar over $250,000 is taxed at a higher rate. Obama is not proposing a tax system whereby somebody who goes from $249,999 to $250,000 suddenly becomes poorer. Nobody has ever enacted a tax hike like that in the history of the United States.
That doesn't stop ABC News' intrepid reporter. This story has to be read to be believed:
Generally, I am disinclined to link to anything from TNR, but this is worth it. So go read the rest of the post.

"Suppose AIG goes bankrupt, it is better that AIG goes bankrupt and we have a horrible two or three years than that the whole US goes bankrupt," Rogers said. "AIG has trillions of dollars of obligations, let them fail, let the courts sort it out and start over. Otherwise we'll never start over."
...
"The idea that you have too much debt, too much borrowing and too much consumption and you're going to solve that problem with more debt, more consumption and more borrowing? These people are nuts."
...
"Power is shifting now from the money shifters, the guys who trade paper and money, to people who produce real goods. What you should do is become a farmer, or start a farming network," Rogers said.


Just a quick note on this "rebellion" garbage popping onto the radar screen from the Republiscums is something I think should be taken seriously. As angry and hateful as I have been to the Bushies/Neo-Cons/ex-Nixonians/Conservatives/Republiscums, I've always kept my anger in check. I may have forgotten my civil tongue in the presence of close company, but I've never publicly advocated revolution, secession, or insurrection, i.e., in a setting that could never have been perceived as anything more than an expression of frustration. But when idiots and assholes openly and publicly advocate for armed takeover and/or violent transfer of power, they have crossed the Rubicon, and should be immediately condemned as enemies of the state, and dealt with accordingly.
To be clear, I am not against people expressing their grievances against their government. I've done quite a lot of that over the past eight years. I also believe that a time may arise when political actors need to be removed from office by force. But those times are - and must be - extremely rare. Only when the majority - or some number coming close to that - is being oppressed by a minority, or when the elected leaders are willfully and deliberately violating the Constitution, should force be considered an option. But, force is only an option when all other civil options have been completely exhausted. Then, and only then, should civil - or non-civil - disobedience be considered an option. But that said, any type of non-civil opposition should expect - and certainly deserves - fierce opposition from the sitting polity.
My main opinion here is that any and every American citizen advocating or publicly discussing armed and violent overthrow of an elected official or body of government should expect to be considered enemies of the state and treated as such. If and when they are found guilty of same, they should also not be surprised if they find themselves guilty of treason, and dealt with accordingly. Some asshole said on Hannity's forum, "it's only treason if your side loses" (or something to that effect). While this may be true, I wonder how many of these Republiscum blowhard assholes are brave enough to ante up. I'm sure they'd make fine bullet-stoppers.
I say put up or shut up, or suffer the consequences for either , because we are - if nothing else - a nation of laws, not men.



The Catholics have their Ash Wednesday today, so in honor of Flying
Spaghetti Monster, I will enjoy spaghetti and meatballs that my lovely
wife is making for dinner. I hope she doesn't mind if I rub a little
sauce on my forehead.
The very existence of life makes finding a four-leafed clover with winning lottery tickets for leaves look like a sure thing. Add the staggering improbability of our evolution from single cells and you end up with odds so vast they've driven the invention of everything from the Drake equation to an invisible sky-beard who seems unnecessarily preoccupied with what we do one day out of every seven. People who study this subject file all that under "Shit we already knew", and were too busy actually working on the science to come up with a garbage buzzword phrase that would look really awesome in bold type on the cover of a hardback book (available now for $29.99!) Luckily Robin Hanson was ready to do that for them.
The Obama administration, siding with former President George W. Bush,
is trying to kill a lawsuit that seeks to recover what could be
millions of missing White House e-mails in a stunning reversal of
Obama's rhetoric about Bush secrecy on the campaign trail.
Bush On Jobs: The Worst Track Record On RecordPresident George W. Bush entered
office in 2001 just as a recession was starting, and is preparing to
leave in the middle of a long one. That’s almost 22 months of recession
during his 96 months in office.His job-creation record won’t look much better. The Bush
administration created about three million jobs (net) over its eight
years, a fraction of the 23 million jobs created under President Bill Clinton’s administration and only slightly better than President George H.W. Bush did in his four years in office.


Basically, George Will routinely makes false claims large and small, holds politicians to disparate standards, and engages in ethically dubious conduct on behalf of his preferred candidates. The Washington Post can hide behind multi-layer processes all it wants, but as long as it publishes Will, it will continue to misinform its readers. The Post doesn't need to give Will a better fact-checker; it -- along with the rest of the media elite -- should instead give him a good, thorough shunning.

"Honestly, it's like arguing with children about the monster under their bed."

Some of those people [at the Post] do bad work, which is too bad. And some of those people do good work. And unfortunately, that’s worse. It means that when good work appears in the Post it bolsters the reputation of the Post as an institution. And the Post, as an institution, has taken a stand that says it’s okay to claim that up is down. It’s okay to claim that day is night. It’s okay to claim that hot is cold. It’s okay to claim that a consensus existed when it didn’t. It’s okay to claim that George Will is a better source of authority on interpreting the ACRC’s scientific research than is the ACRC. Everyone who works at the Post, has, I think, a serious problem.

The key is that financial reorganization of failed companies -- whether it's receivership, or bankruptcy proceedings, or something else like it -- is textbook rule of law capitalism. TPM

why should anyone on the Post's op-ed page even bother to tie their opinions to ANY real-world truths? Why can't everyone just MAKE SHIT UP?Just look back to the inane reporting in the elections last year. Or look a little further back to the media's culpability in the run up to the Iraq War. Or go even further back to how the media helped decide that Bush was the real winner of the election in 2000. Then turn and look at Fox News, and all the crap that comes out of Rupert Murdoch's media outlets.
But it's [insulation from market competition] also bread [sic] this weird arrogance where nobody in the business seems to think that the deplorably low quality of the product plays any role whatsoever in the declining relevance of these institutions. But here’s a George Will column in my paper, lying to me about global warming. Here’s Will’s editor refusing to correct the record or say anything about why he decided it would be a good idea to run a column in which George Will lies about global warming. And now here’s the very same indifferent-to-the-truth editorial team writing about global warming. And I’m supposed to read the editorial why? What value to me, as a consumer of information, do inaccurate uncorrected George Will columns offer me?
How will the addition of Bill Kristol to the roster increase the value of the newspaper to me as a consumer of information?







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I know from first hand experience that political cartoons can easily be misinterpreted, but as a cartoonist, I assert that either Delonas is a racist or he's an idiot. To say this is tone deaf is polite. But no matter. If he wants to make a statement with such vile imagery, let him. Free Speech and all that. But most of us can see this cartoon for what it is, despite the Post's CYA defense. As this country moves forward daily towards racial equality and justice, tabloid rags like the NY Post, and the racist, ignorant pigs working there - Delonas especially - are becoming more marginalized and more irrelevant every day.
That's the nice thing about free speech. People are free to express themselves and proudly display just how pathetic they really are.
Read the Article at HuffingtonPost
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The premise of this entire article is flawed because of misunderstanding the very nature of our economic problems, and from misquoting Jefferey Sachs. Mr. Sachs never said the stimulus deficit would cripple us, he said the fiscal hole we're in will. As in, the hole that we are in now is much larger than most people paying attention are willing to realize.
The stimulus will indeed help, and even if it doesn't right the US economy, at least we'll be getting some badly needed infrastructure improvements out of it. The author - and most others writing about economic matters - should have a more realistic understanding of just how bad the global economic crisis is before writing such irresponsible articles.
About Stimulus Package
Read the Article at HuffingtonPost