On the cusp of landing a banking reform bill on the Senate floor, Senators Chris Dodd (D-CT) and Richard Shelby (R-AL) showed up for a status report. Mr. Dodd, as it is well documented, has been the driving force behind the initiative, but Mr. Shelby has worked closely with him the entire way. However, the body language from both men were quite telling.
Senator Dodd said that the Goldman Sachs episode (where they made billions betting against the economy), there is a heightened need for reform. To which, Sen. Shelby countered that we need to end the casino atmosphere on Wall Street. Wait... not really a counter. In fact, through his Stepford tone, Mr. Shelby said things that pretty much put him on the same page as Mr. Dodd, but he couldn't show any kind of collective sense of accomplishment. His predicament is that banking reform is something everyone wants and that there isn't enough to disagree on, which doesn't help Republicans politically.
On the other hand, Mr. Dodd was trying to say that the bill should be named the Dodd-Shelby bill, but Sen. Shelby was cutting that down with a lack of acknowledgment all together. Maybe it was just the different temperament of the two men, or possibly it's just a reflection of the political climate. Republicans are obligated NOT to warm up to Democrats - we know this. And to further that point, Senator Shelby said that the bill doesn't, in fact, prevent too big to fail, and must be tightened up. Hence, Republicans will oppose the bill in its current form, which is very shrewd politically. By saying that the bill doesn't go far enough, Republicans will not vote it and in essence blocking a bill that they don't want to see pass even if it did have more teeth.
However, we do agree with Mr. Shelby in reference to the bail-outs. Mr. Gregory pointed out that most of the banks and the automakers have paid back their respective bail-outs. Mr. Shelby said that not all the bail-out money, even from those firms paying it back, will ever be reimbursed. That's just true, a lot of that money is just money down the drain to create some kind of solvency somewhere in a corner of the economy. It's sort of like that $9 Billion in cash that disappeared in Iraq. It paid someone somewhere for something that can't be discussed. And Mr. Shelby also quoted Paul Volker in saying that if you're too big to regulate, you're too big to exist - also true because we would still like to think that no one in this country is above the law.
Senator Dodd stated that the complexity of the bill is a red herring, and we agree simply because you can not oppose something because it seems too complex. Just master the complexity. Newsweek's Evan Thomas pointed out, on the panel, that we're not going to turn things around this time, 'growing out of it,' not without regulation. So in spite of what we said above about politically shrewd moves, the Republicans don't have the collective will to oppose banking regulation reform.
In a day where hard partisanship sells, here's an issue in which you can see consensus, but we can't bring ourselves to it. This plays into the other topic of discussion, for today's panel, which was the role of government. How much should it play a direct part of our daily lives? How strong of a hand should it have? Well first, that's a good question for Arizona.
For a state that leans way right and shouts complaints about government's big hand, they decided to act on immigration because the federal government has down nothing 'for decades' as the Arizona Governor put it. But they didn't quite act in a 'freedom loving' kind of way. Even before the bill was signed, the jokes about, "Where are your papers [with German accent]?" were flying around.
But even today's panel was unanimous in its opinion of what likely effect this new law will have, namely the potential for racial profiling. And it will happen, it's like physics. Arizona passed this lawyer to address illegal Mexican immigration and it's inevitable that American citizens are going to be required to show citizenship upon request. That's not freedom, that's nationalism, more in line with the fascist tendencies. And we're not saying that the Arizona legislature is a bunch of Nazis, not at all. They are just reacting in a drastic way to what they feel is a drastic problem... again social physics.
Also, as PBS's Michele Norris rhetorically asked, are they going to check Chinese immigrants or Irish immigrants or the Brit who overstayed his visa? Officially, maybe... but unofficially, absolutely no. So the essence of that is racial profiling of one group. And as Erin Burnett of CNBC pointed out, an expendable one. In her ever cavalier, corporatist view, she explained that corporations, though it would seem they like cheap labor, will still be able to get it despite this law. It's the Chinese and Indian immigrants that they welcome for the high tech.
Lastly, this has put immigration reform to the forefront of the Demcrats' agenda, New York Times David Brooks explained, simply for political reasons, not out of necessity - ahead of energy policy, which is a much higher priority. And why? Because everyone wants that Latino vote, with the exception of Senator John McCain, who endorsed the bill. In a hard turn right, Mr. McCain, who worked on immigration reform for years with the late Senator Kennedy of Massachusetts, it was pointed out, went back on one of his well-established positions to get the right votes. But what ever votes he's courting, his endorsement doesn't line up with something we thought Mr. McCain was all about - the defense of freedom.
Sunday, April 25, 2010
Sunday, April 11, 2010
4.11.10: Foes
Before we start with anything, at the end of today's program, Mr. Gregory noted the tragedy in Russia where the President of Poland, Jaroslaw Kaczynski, died along with many in the top leadership of the Polish government, in a plane crash. We wanted to note it here - at the beginning. The author of this column lived in Poland for three years, in Lipno outside of Torun and in Warsaw, the capital.
I just want to say that today I think of the good friends that are still there and how hard this must be for them. Poland is a special place, one of the key historical countries in understanding not only Europe, but the world. It's people are warm, highly intelligent, and gracious hosts. The profound lessons I learned there have stayed with me for my entire life. My heart is with them today and always.
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What is so frustrating and will eventually seriously cripple this country is we can't get together on anything. Senator Sessions (R-AL), in today's interview alongside Senator Leahy (D-VT), that the government is overreaching against the will of the American people, but we would contend that some in Mr. Sessions party would say that the government isn't doing enough on job creation. But isn't the government overreaching when they start tampering with the job market? We could go around and around on this ad nausea.
With regard to the nomination of a new Supreme Court justice, following Justice Steven's retirement announcement, Senator Leahy said today that the court now is an activist court. Justice Stevens, known as the leading liberal on the court, it was noted, said that he hadn't changed but the court dynamic has in fact changed. To which, Senator Sessions disagreed, but it's difficult to agree when the court, along ideological line that favor conservatives, the court empowered corporations further by ruling that they could contribute monetarily to political campaigns. Who wouldn't be against that?
New York Times columnist David Brooks, later in the program, feels that since the court is dominated by Harvard/ Yale grads that President Obama will go outside of that sphere and nominate more a man [person] of the people. One who has more of the 'common man' experience. And we all hope as Senator Leahy stated that it is some one who brings the country together. But that's highly doubtful. Of the mentioned nominees, Janet Napolitano's name came up, and we're not convinced. She's been exceedingly mediocre as the Secretary of Homeland Security, almost as if her opinion doesn't care any weight. Politics is perception as they always say and the court is now political. We've reached a dangerous stage in that regard and given that, Ms. Napolitano would definitely not be our choice. However, we do strongly believe that another woman is needed for the court, most importantly for the fact that woman are underrepresented!
Finally, Senator Sessions left open the possibility of a filibuster of the nominee, after he once stated that it would not be a good idea. If in fact the Republicans do filibuster, which this column suspects they will if the nominee is deemed 'too liberal,' there will be a sea change in our political system where bipartisanship will cease to exist in any context - foreign or domestic policy. Both parties will be reduced to crippled foes.
With regard to our foreign adversaries, namely Iran and its nuclear ambitions, the Administration is taking the correct and shrewd approach event though the Republicans and their brethren [e.g. Ms. Palin and the Tea Party] don't think so, but here's why. Signing the S.T.A.R.T. treaty with Russia is a smart move. It reduces our and Russia's respective stockpiles, which now only gives our countries the ability to kill each other a hundred times over instead of a thousand times over. So when these two major nuclear powers focus their attention, the rest of the world will listen and Russia is an essential in making this happen. The nuclear summit will additionally raise the world governments' collective consciousness.
In addition to the necessary subversive tactics being employed by us and our allies, these initial moves will compel others to step up sanctions and other diplomatic pressure on Iran to hamper its nuclear ambitions. We have previously stated in this column that Iran as a nuclear power is inevitable - unfortunately and the we shouldn't make it easy. As strongly as our stance is with regard to Iran and its nuclear ambitions, we would under no circumstances advocate for war.
Also, as Secretary Gates stated, in today's joint interview with Secretary of State Clinton, we still have a very powerful nuclear arsenal (see above), but with our advanced technology with regard to missile defense, we have the capability of protecting ourselves via more conventional means.
There seems to be a dearth of shrewd thinking in this country when it comes to our foreign adversaries. This acting from the gut with false bravado stems from our need for instant gratification. Shrewd thinking takes time and patience, it just knowing when that patience needs to be turned into action. However, as David Sanger pointed out, in the roundtable, President Obama hasn't definitely what that redline is. Also, given what Secretary Gates said about us not really knowing even when or if Iran has assembled a nuclear weapon, is The President being shrewd by not saying? We would hope so but it does appear that he hasn't exactly defined it himself. Kathleen Parker made the good point that engagement is not foreign policy. However, it is a necessary tool. Remember that a great chess champion always wants to sit opposite is his most dangerous opponent - to beat him face to face.
Again, Secretary Clinton stated this this treaty in no way makes us weaker but tactically it gives us greater leverage with other countries, foes and allies alike.
P.S. David Brooks had a great Newt Gingrich quote on today's program that's worth noting. Newt Gingrich has a billion ideas, six hundred of which as good.
I just want to say that today I think of the good friends that are still there and how hard this must be for them. Poland is a special place, one of the key historical countries in understanding not only Europe, but the world. It's people are warm, highly intelligent, and gracious hosts. The profound lessons I learned there have stayed with me for my entire life. My heart is with them today and always.
-----
What is so frustrating and will eventually seriously cripple this country is we can't get together on anything. Senator Sessions (R-AL), in today's interview alongside Senator Leahy (D-VT), that the government is overreaching against the will of the American people, but we would contend that some in Mr. Sessions party would say that the government isn't doing enough on job creation. But isn't the government overreaching when they start tampering with the job market? We could go around and around on this ad nausea.
With regard to the nomination of a new Supreme Court justice, following Justice Steven's retirement announcement, Senator Leahy said today that the court now is an activist court. Justice Stevens, known as the leading liberal on the court, it was noted, said that he hadn't changed but the court dynamic has in fact changed. To which, Senator Sessions disagreed, but it's difficult to agree when the court, along ideological line that favor conservatives, the court empowered corporations further by ruling that they could contribute monetarily to political campaigns. Who wouldn't be against that?
New York Times columnist David Brooks, later in the program, feels that since the court is dominated by Harvard/ Yale grads that President Obama will go outside of that sphere and nominate more a man [person] of the people. One who has more of the 'common man' experience. And we all hope as Senator Leahy stated that it is some one who brings the country together. But that's highly doubtful. Of the mentioned nominees, Janet Napolitano's name came up, and we're not convinced. She's been exceedingly mediocre as the Secretary of Homeland Security, almost as if her opinion doesn't care any weight. Politics is perception as they always say and the court is now political. We've reached a dangerous stage in that regard and given that, Ms. Napolitano would definitely not be our choice. However, we do strongly believe that another woman is needed for the court, most importantly for the fact that woman are underrepresented!
Finally, Senator Sessions left open the possibility of a filibuster of the nominee, after he once stated that it would not be a good idea. If in fact the Republicans do filibuster, which this column suspects they will if the nominee is deemed 'too liberal,' there will be a sea change in our political system where bipartisanship will cease to exist in any context - foreign or domestic policy. Both parties will be reduced to crippled foes.
With regard to our foreign adversaries, namely Iran and its nuclear ambitions, the Administration is taking the correct and shrewd approach event though the Republicans and their brethren [e.g. Ms. Palin and the Tea Party] don't think so, but here's why. Signing the S.T.A.R.T. treaty with Russia is a smart move. It reduces our and Russia's respective stockpiles, which now only gives our countries the ability to kill each other a hundred times over instead of a thousand times over. So when these two major nuclear powers focus their attention, the rest of the world will listen and Russia is an essential in making this happen. The nuclear summit will additionally raise the world governments' collective consciousness.
In addition to the necessary subversive tactics being employed by us and our allies, these initial moves will compel others to step up sanctions and other diplomatic pressure on Iran to hamper its nuclear ambitions. We have previously stated in this column that Iran as a nuclear power is inevitable - unfortunately and the we shouldn't make it easy. As strongly as our stance is with regard to Iran and its nuclear ambitions, we would under no circumstances advocate for war.
Also, as Secretary Gates stated, in today's joint interview with Secretary of State Clinton, we still have a very powerful nuclear arsenal (see above), but with our advanced technology with regard to missile defense, we have the capability of protecting ourselves via more conventional means.
There seems to be a dearth of shrewd thinking in this country when it comes to our foreign adversaries. This acting from the gut with false bravado stems from our need for instant gratification. Shrewd thinking takes time and patience, it just knowing when that patience needs to be turned into action. However, as David Sanger pointed out, in the roundtable, President Obama hasn't definitely what that redline is. Also, given what Secretary Gates said about us not really knowing even when or if Iran has assembled a nuclear weapon, is The President being shrewd by not saying? We would hope so but it does appear that he hasn't exactly defined it himself. Kathleen Parker made the good point that engagement is not foreign policy. However, it is a necessary tool. Remember that a great chess champion always wants to sit opposite is his most dangerous opponent - to beat him face to face.
Again, Secretary Clinton stated this this treaty in no way makes us weaker but tactically it gives us greater leverage with other countries, foes and allies alike.
P.S. David Brooks had a great Newt Gingrich quote on today's program that's worth noting. Newt Gingrich has a billion ideas, six hundred of which as good.
Sunday, April 04, 2010
4.4.10: Into The Woods
Time's Rick Stengel summed it up this week by saying that government can only do so much to improve the economy and create jobs. Yet, the prevailing perception is that the government isn't doing enough to spur real recovery and job growth. Hence, we have much vitriol for Washington across the countryside, and indeed our democratic process is struggling right now trying to navigate through the seas of high partisanship.
However, unless an individual applies for a government job, the government isn't going to do it for him directly. They can facilitate with a stimulus bill, which Dr. Christina Romer - today's first guest - said was on track to create 3 million jobs; financial reform; and bring the costs of one-sixth of our economy down in the form of healthcare reform. To the Republicans credit, they have successfully framed, as they always do, the Democrats' reform agenda into a government take over of our lives, which as we really know is not going to happen. With regard to Dr. Romer's claim of job creation, it's difficult to believe any such numbers simply due to the fact that market forces and the banks could either play along or throw the whole recovery out of whack.
The negative economic forces and discontent with Washington in general has spurred the creation and bold actions of homegrown right-wing extremist groups, elements of which turn up in the Tea Party movement, essentially acting as the Sinn Fein of the far right. And frankly, not smart representation either as what many tea party people don't realize is that they are advocating for things that do not serve their own best interest. Mr. Gregory described the response as 'extreme and incendiary political rhetoric.' Republican political leaders can deflect all they want that they are not contributing to this escalation is far right groups, but their weak denouncements speak louder. Additionally, Congressperson Jane Harman, a part of today's panel, pointed out a troubling aspect that the recently arrested militia members were set to employ tactics used by Al Qaeda. Become what you be behold and be content you're doing right. Very sad.
Lastly, dare we say that it is refreshing that today's discussion revolved around terrorism and security instead of healthcare? Not necessarily a refreshing topic, but as it stands right now these are the only concerns facing us where a shred of consensus can be found. With that said, Senator Joseph Lieberman, also on the panel today, said that there should be a concern for our trains and subways and that the Moscow subway bombings should as an example of a real threat. Now, we know that Mr. Lieberman thinks that those bombings serve as examples, and not that those same forces that executed those bombings are also targeting us. However, from the way he talked about it, we can only be 98% sure... hmmm. The point being, is that we find Senator Lieberman to be frivolously hawkish, aggressive for the sake of being so. But assuming we're on the same page, yes - these bombings will give some one here a tragic idea. But here's the rub, President Obama has been extremely hawkish with regard to our operations on the Afghanistan-Pakistan frontier. And despite the determined Taliban resistance, we have Al Qaeda more on the run now then we've had in a number of years. (Congressman Harman was also correct is saying that the epicenter for terrorism/Al Qaeda is Yeman.) So unfortunately, those examples are food for bright ideas for someone living in the Michigan woods.
However, unless an individual applies for a government job, the government isn't going to do it for him directly. They can facilitate with a stimulus bill, which Dr. Christina Romer - today's first guest - said was on track to create 3 million jobs; financial reform; and bring the costs of one-sixth of our economy down in the form of healthcare reform. To the Republicans credit, they have successfully framed, as they always do, the Democrats' reform agenda into a government take over of our lives, which as we really know is not going to happen. With regard to Dr. Romer's claim of job creation, it's difficult to believe any such numbers simply due to the fact that market forces and the banks could either play along or throw the whole recovery out of whack.
The negative economic forces and discontent with Washington in general has spurred the creation and bold actions of homegrown right-wing extremist groups, elements of which turn up in the Tea Party movement, essentially acting as the Sinn Fein of the far right. And frankly, not smart representation either as what many tea party people don't realize is that they are advocating for things that do not serve their own best interest. Mr. Gregory described the response as 'extreme and incendiary political rhetoric.' Republican political leaders can deflect all they want that they are not contributing to this escalation is far right groups, but their weak denouncements speak louder. Additionally, Congressperson Jane Harman, a part of today's panel, pointed out a troubling aspect that the recently arrested militia members were set to employ tactics used by Al Qaeda. Become what you be behold and be content you're doing right. Very sad.
Lastly, dare we say that it is refreshing that today's discussion revolved around terrorism and security instead of healthcare? Not necessarily a refreshing topic, but as it stands right now these are the only concerns facing us where a shred of consensus can be found. With that said, Senator Joseph Lieberman, also on the panel today, said that there should be a concern for our trains and subways and that the Moscow subway bombings should as an example of a real threat. Now, we know that Mr. Lieberman thinks that those bombings serve as examples, and not that those same forces that executed those bombings are also targeting us. However, from the way he talked about it, we can only be 98% sure... hmmm. The point being, is that we find Senator Lieberman to be frivolously hawkish, aggressive for the sake of being so. But assuming we're on the same page, yes - these bombings will give some one here a tragic idea. But here's the rub, President Obama has been extremely hawkish with regard to our operations on the Afghanistan-Pakistan frontier. And despite the determined Taliban resistance, we have Al Qaeda more on the run now then we've had in a number of years. (Congressman Harman was also correct is saying that the epicenter for terrorism/Al Qaeda is Yeman.) So unfortunately, those examples are food for bright ideas for someone living in the Michigan woods.
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