Author: Matthew G. Saroff

No Prosecutions of Banksters, People are Finally Noticing

At least the reporters at McClatchy are noticing:

Running for re-election, President Barack Obama frequently blames Wall Street and the deep financial crisis it caused for the underperforming economy. He doesn’t advertise that no major honcho of finance has been jailed under his watch for the mess, however.

The lack of a high-profile arrest and trial is all the more surprising given that Obama has tried to stain his Republican rival, former Massachusetts Gov. Mitt Romney, as a creature of Wall Street.

Past financial crises have always had antagonist. The savings and loan crisis of the late 1980s had banker Charles Keating. The CEO of collapsed energy trader Enron, Kenneth Lay, became the face behind a drive to revamp accounting laws in 2002. Both men were prosecuted for and convicted of financial crimes.

In the aftermath of the financial crisis of 2007-08 and the subsequent Great Recession, there’ve been plenty of scapegoats but no important actor fitted for pinstripes.

Why not? There’s no single compelling answer to that question.

“Some people (in regulatory agencies) believe that the folks at the Treasury and the Fed felt that pursuing chief executive officers would delay the economic recovery and continue to destabilize the financial system,” said John Coffee, a Columbia University law professor who frequently testifies before Congress on securities law. “They had that point of view. Whether they had any influence over the Department of Justice is very uncertain.”

Yeah, very uncertain.

The issue is not the influence of the Treasury Department over the Department of Justice.

Not prosecuting is the official policy of the President.  His response to wrongdoing whenever someone connected (CIA torturers and Dick Cheney) or powerful (banksters) is to say that he will “look forward, not back.”  (But he’s going balls to the wall prosecuting medical marijuana).

Whether Treasury has influence does not matter.  This is the a directive from Potus.

As an aside, McClatchy was just about the only major US news org to treat the run up to Iraq with any skepticism.

What I want, and what a solid majority of Americans want, is some bankster heads on a pike.

Mitt Has Released His Taxes

Well, he sort of released his taxes. He released his 2011 taxes, and “summary” for the past decade:

Republican presidential candidate Mitt Romney fought back on Friday against Democratic charges he paid no taxes in some years, releasing a letter from his accountants saying he paid an effective federal tax rate of at least 13.6 percent annually over 20 years.

Despite heavy political pressure, Romney stood firm in refusing to make those returns public, but followed through on an earlier promise to release his 2011 return. It showed he paid $1.9 million in taxes on more than $13 million in income – an effective tax rate of 14.1 percent.

………

Romney has refused to release returns from his years as head of Bain Capital, a private equity fund that Democratic critics have charged plundered companies and cut jobs in a quest for profits. Romney has an estimated net worth between $190 million and $250 million.

………

The Romney campaign published a statement on Friday from former Internal Revenue Service Commissioner Fred Goldberg, who declared the returns “reflect the complexity of our laws and the types of investment activity that I would anticipate for persons in their circumstances.”

Goldberg said, “In my judgment, they have fully satisfied their responsibilities as taxpayers.”

The letter from accountants PricewaterhouseCoopers said the average of Romney’s annual effective federal personal income tax rate during the 20-year period up to 2009 was 20.2 percent, and he and his wife, Ann, had a charitable deduction rate of 13.45 percent.

Seriously, there is something really hinky about his tax returns that Mitt is desperately trying to hide.

BTW, if you want to run the numbers, I guarantee that he paid only about $10K in social security and medicare taxes, which would be less than 1%.

Ordinary mortals who earn less than about $100K pay about 7½% on every penny for social security and medicare, and that’s before the stuff that he squirreled away in his (now closed) Swiss bank account.

It’s Beginning toBlook Like the Last Days of the USSR Here

Much like the USSR life expectancies are falling at the end of empire:

For generations of Americans, it was a given that children would live longer than their parents. But there is now mounting evidence that this enduring trend has reversed itself for the country’s least-educated whites, an increasingly troubled group whose life expectancy has fallen by four years since 1990.

Researchers have long documented that the most educated Americans were making the biggest gains in life expectancy, but now they say mortality data show that life spans for some of the least educated Americans are actually contracting. Four studies in recent years identified modest declines, but a new one that looks separately at Americans lacking a high school diploma found disturbingly sharp drops in life expectancy for whites in this group. Experts not involved in the new research said its findings were persuasive.

The reasons for the decline remain unclear, but researchers offered possible explanations, including a spike in prescription drug overdoses among young whites, higher rates of smoking among less educated white women, rising obesity, and a steady increase in the number of the least educated Americans who lack health insurance.

The steepest declines were for white women without a high school diploma, who lost five years of life between 1990 and 2008, said S. Jay Olshansky, a public health professor at the University of Illinois at Chicago and the lead investigator on the study, published last month in Health Affairs. By 2008, life expectancy for black women without a high school diploma had surpassed that of white women of the same education level, the study found.

White men lacking a high school diploma lost three years of life. Life expectancy for both blacks and Hispanics of the same education level rose, the data showed. But blacks over all do not live as long as whites, while Hispanics live longer than both whites and blacks.

“We’re used to looking at groups and complaining that their mortality rates haven’t improved fast enough, but to actually go backward is deeply troubling,” said John G. Haaga, head of the Population and Social Processes Branch of the National Institute on Aging, who was not involved in the new study.

In the last two decades of its existence, life expectancies fell in the USSR, because it was carving the heart out of its economy with a bloated and over-sized military.

Luckily, we’re nothing like that.

Just how many primary care physicians would one carrier battle group buy?

Gold Egg Laying Goose, Meet Axe

All Microflaccid has left is its office suite, and it appears that they are determined to drive a steak through its heart:

Office 2013 is going to be, for most users, a fairly minor evolution of Microsoft’s flagship productivity suite, except for one little thing: with Office 2013, Microsoft is pitching Office subscriptions to consumers.

The company has already been courting enterprise users with its Office 365 platform for a little over a year now. There are multiple price tiers, with enterprise users getting some combination of Exchange, SharePoint, Office Web Apps, and the desktop Office suite.

In addition to these enterprise-oriented offerings, the company today unveiled two non-enterprise plans. For $99.99/year, there’s Office 365 Home Premium, giving Word, Excel, PowerPoint, OneNote, Outlook, Publisher, and Access, plus an extra 20 GB of SkyDrive storage (in addition to the 7 GB that you get for free), plus 60 minutes of Skype calls per month. This is licensed on a per-household basis, and one account can be shared by up to 5 users across any mixture of five PCs and Macs.

The other new subscription is the $149.99/year Office 365 Small Business Premium. This adds Lync and InfoPath into the software mix, but changes the cloud services. Instead of SkyDrive and Skype, Small Business Premium users will get a 25 GB mailbox, shared calendaring, 10 GB of shared (company-wide) storage, and another 500 MB of storage per user. This is licensed per user, but that user can install on any combination of PCs and Macs, again up to a total of five systems.

Seriously, they lost me with Office 2007.  I use 2003 at home (unfortunately, I use 2010 at work which I really don’t like

I understand that the “cloud” is in right now, but I like the fact that I don’t have to upgrade to whatever clusterf%$# Microsoft feels fit to call an upgrade (see anything with the f%$#ing ribbon).

I’ve been through this sh%$ with Blogger, where they are determined to f%$# with sh%$ that already f%$3ing works.

Seriously, short these morons.

Whenever You Talk About Charles Murray

The author of any number of works, most notably The Bell Curve, which espouse the same thing, it’s the fault of those n*****s.

Well, Bill Black discusses how Mitt Romney destroying his campaign is fully embracing the ideology of Murray, and in the process gets in some zingers against Charles Murray:

Charles Murray’s newest book: Coming Apart: The State of White America proves two classic truths. First, it is impossible to compete with self-parody. Second, be careful what you ask for; for you may receive it. Charles Murray asked right-wing plutocrats (he dismissed left-wing plutocrats as disloyal to their class and to capitalism) to drop what he derided as “political correctness” and denounce Americans who received governmental support as immoral failures. Murray is a vigorous supporter and flatterer of Mitt Romney, claiming that the fact that he became wealthy at Bain should make him a “slam dunk” for the presidency. Murray’s reasoning is so crude that he announces a new doctrine – the divine right of CEOs to govern America. “Who better to be president of the greatest of all capitalist nations than a man who got rich by being a brilliant capitalist?”

No need to hold elections; simply make whoever tops the Forbes list of wealthiest people the president. Think of the competitive incentives that rule would create.

This is a nice take-down, but it omits a crucial fact about Charles Murray, one that should be the lead item on any mention of him.

You see, as a teen, he burnt a cross next to a police station.

He has claimed that he did not know what it meant, as a high school senior in 1960.

The entire output of his professional career naturally follows from this.

This Almost Makes Me Believe the Obama Wannabee Dictator Teabagger Crap

Seriously, whenever the administration gets in front of a judge and argues for unlimited executive power. they sound like they are acting out one of Dick Cheney’s fascist wet dreams:

The Obama administration warned Monday that a judge’s ruling last week blocking a statute authorizing the indefinite detention of terrorism suspects has jeopardized its ability to continue detaining certain prisoners captured during the war in Afghanistan.

In an emergency appeal of the ruling, the government asserted that United States District Court Judge Katherine B. Forrest went beyond enjoining the statute — enacted last year as part of the National Defense Authorization Act — and potentially curtailed detention powers it has been exercising for years under its interpretation of the authorization to use military force against the perpetrators of the Sept. 11, 2001, attacks.

Judge Forrest’s order “threatens irreparable harm to national security and the public interest by injecting added burdens and dangerous confusion into the conduct of military operations abroad during an active armed conflict,” the government wrote in a 38-page filing with the federal appeals court in New York.

The motion focused on language used by Judge Forrest that rejected interpreting the original use-of-force authorization as including the ability to detain “substantial supporters” of Al Qaeda and the Taliban, as opposed to people who are actually part of those groups. The judge also called into question the idea that the United States could detain members or supporters of “associated forces” that had no involvement in the Sept. 11 attacks.

Thankfully, the judge was having none of this:

“If, following issuance of this permanent injunctive relief, the government detains individuals under theories of ‘substantially or directly supporting’ associated forces, as set forth in” the National Defense Authorization Act, “and a contempt action is brought before this court, the government will bear a heavy burden indeed,” she wrote.

The interesting thing here is that there are at least two alternatives that come to mind:

  • They could use the ordinary criminal justice system.
  • They could declare them prisoners of war.
    • In fact, if they don’t charge them, we are bound by treaty to declare them POWS and accord them all rights inherent in that status.

The thesis advanced by the Obama DoJ is that any inconvenience trumps the Constitution or treaty obligations.

 This is why I call Barack Obama the worst constitutional law professor ever.

John Cusak??? Seriously, John Cusak?!?!?

In 2008, John Cusak was seriously in the tank for Obama, and now he’s said that he’s crossed red lines, and he will not be voting for him:

I wrote this a while back after Romney got the nom… in light of the blizzard of bullshit coming at us in the next few months I thought I would put it out now

Now that the Republican primary circus is over, I started to think about what it would mean to vote for Obama…

Since mostly we hear from the daily hypocrisies of Mitt and friends, I thought we should examine “our guy” on a few issues with a bit more scrutiny than we hear from the “progressive left”, which seems to be little or none at all.

Instead of scrutiny, the usual arguments in favor of another Obama presidency are made: We must stop fanatics; it would be better than the fanatics—he’s the last line of defense from the corporate barbarians—and of course the Supreme Court. It all makes a terrible kind of sense and I agree completely with Garry Wills who described the Republican primaries as “ a revolting combination of con men & fanatics— “the current primary race has become a demonstration that the Republican party does not deserve serious consideration for public office.”

True enough.

But yet…

… there are certain Rubicon lines, as constitutional law professor Jon Turley calls them, that Obama has crossed.

………

Do we prosecute felonies like torture or spying on Americans? No, time to “move on”…
Now chaos is the norm and though the chaos is complicated, the answer is still simple. We cant afford this morally, financially, or physically. Or in a language the financial community can digest: the wars are ideologically and spiritually bankrupt. No need to get a score from the CBO.

………

One is forced to asked the question: Is the President just another Ivy League Asshole shredding civil liberties and due process and sending people to die in some sh%$hole for purely political reasons?

It pretty much mirrors my take on this, though I would add a dose of letting the banksters continue doing their evil unimpeded.

You should read the whole thing, I particularly liked the interview/discussion with Jonathan Turley at the end.

Unhelpful Stupid Self-Hating Democrats

Tim Kaine:

Virginia Senate nominee Tim Kaine (D) unexpectedly suggested in a debate with George Allen on Thursday that he’d be open to requiring everyone to pay a minimum amount — including the 47 percent of American taxpayers who do not currently pay any income tax.

Kaine was responding to a question from moderator David Gregory about whether “everyone in Virginia should pay something in federal income tax” in light of Mitt Romney’s leaked complaints about the 47 percent who he considered “dependent” on government.

“I would be open to a proposal that would have some minimum tax level for everyone,” Kaine said. “But I do insist, many of the 47 percent that Gov. Romney was going after pay a higher percentage of their income in taxes than he does.”

Republicans quickly pounced. The Kaine campaign said the Democrat was simply discussing his openness to discuss anything as part of his plan to overhaul the tax code.

Yes, raising taxes on poor people is such good policy.

This is why the fetish that the political class of the Democratic Party has for candidates who are willing to sell core party values down the road is bad because it gets you lame wankers like this on the ticket.

To quote Harry S Truman, “Given a choice between a fake Republican and a real one, the public will choose the real Republican every time,” and Tim Kaine is doing his level best to be a fake Republican.

Mitt Discovers His Inner Oompa Loompa


This is Mitt Rmoney


This is Mitt Rmoney in Channeling his Inner Oompa Loompa



Any Questions?

It appears that Mitt used spray tan for his interview on Univision.

Seriously, when you attempt to do outreach to voter groups, wearing black* face does not work.

Mitt and his team decided that it could be handled with a spray tan.

That is not outreach, that is stupidity.

H/t Cthulhu at the Stellar Parthenon BBS.

*OK, Orange.

The Canary in the Coal Mine is Getting Woozy

 It looks like an increasing numbers of expats are bailing out of China:

Anecdotal evidence suggests that increasing numbers of western expats are beginning to leave China. A recent article that has gone viral in the expat community in China called “Why I’m leaving the country I loved” describes some of the reasons.

I am not sure whether this is a leading or a lagging indicator, but this does not bode well for the world economy.

H/t Naked Capitalism.

Nice Try Scotty

Looks like little Scotty Brown was trying to avoid his first debate with Elizabeth Warren, using an upcoming Senate vote as an excuse.

Well, Harry Reid felt your pain:

Majority Leader Harry Reid abruptly scrapped votes in the Senate on Thursday so Sen. Scott Brown could participate in a high-profile debate with Elizabeth Warren in Boston.

“No more votes today,” Reid (D-Nev.) said on the floor. “It’s obvious to me what’s going on. I’ve been to a few of these rodeos. It is obvious there is a big stall taking place. One of the senators who doesn’t want to debate tonight won’t be in a debate. While he can’t use the Senate as an excuse, there will be no more votes today.”

Well played, Senator Reid.

It’s streaming on WBZ and on CSPAN-3.

In the first few minutes, Scotty is harping on her family history (the whole “part Cherokee and Delaware” thing).

He is coming across a really, really pissy.

He’s sputtering.

What the F%$#

OK, I was just watching The Daily Show, and Jon Stewart said sh%$.

This wouldn’t be unusual, except for the fact that they didn’t bleep him.

They didn’t bleep him a lot, and they didn’t bleep Pink in her song.

When did the word sh%$ stop being bleeped on Comedy Central?

My Hero of the Day

I got nothing to add but, “hurray!”

Iranian Woman Beats the Crap Out of Cleric for Telling Her to Cover Up

A cleric in Iran went crying to the country’s state-run Mehr News Agency after a run-in with a woman who responded to his repeated requests to cover up by kicking the crap out of him.

While walking to a mosque in the northern city of Shahmirzad, Hojatoleslam Ali Beheshti says he encountered a “badly covered” woman, and proceeded to “politely” order her to correct her outfit.

“You, cover your eyes,” the woman reportedly responded. He then told her again to cover up, at which point she decided she’d had enough.

“Not only didn’t she cover herself up, but she also insulted me,” the cleric told Mehr. “I asked her not to insult me anymore, but she started shouting and threatening me. She pushed me and I fell to the ground on my back. From that point on, I don’t know what happened. I was just feeling the kicks of the woman who was beating me up and insulting me.

Chicago Teachers’ Strike Over

Technically, the strike is just suspended, but I can’t see the teachers hitting the line again:

The Chicago Teachers Union’s House of Delegates decided this afternoon to end the city’s first teacher strike in 25 years and return more than 350,000 students to the classroom Wednesday.

The voice vote was taken after some 800 delegates convened at a union meeting hall near Chinatown to discuss and debate a tentative contract. Union leaders had already signed off on the agreement with Chicago Public Schools.

“We said we couldn’t solve all the problems. . .and it was time to suspend the strike,” CTU President Karen Lewis said at a news conference after the vote.

One hopes that Rahm gets taken down at the next election.

To the degree than anyone lost, it was Emanuel, and here’s hoping that he gets taken down at the next election.

He’s a f%$#ing bully who never seems to muster the guts to use it on the other side, and he’s yet another case of an incompetence failing up.

He’s Dick Cheney minus one finger tip.

This is Cool

An Ancient Roman mosaic was found beneath a farmer’s field in Turkey:

A giant poolside mosaic featuring intricate geometric patterns has been unearthed in southern Turkey, revealing the far-reaching influence of the Roman Empire at its peak.

The mosaic, which once decorated the floor of a bath complex, abuts a 25-foot (7-meter)-long pool, which would have been open to the air, said Michael Hoff, a University of Nebraska, Lincoln art historian and director of the mosaic excavation. The find likely dates to the third or fourth century, Hoff said. The mosaic itself is an astonishing 1,600 square feet (149 square meters) — the size of a modest family home.

Cameras are Everywhere, Mitt

Mother Jones has found a video of Mitt Romney in a private meeting with his millionaire supporters:

During a private fundraiser earlier this year, Republican presidential candidate Mitt Romney told a small group of wealthy contributors what he truly thinks of all the voters who support President Barack Obama. He dismissed these Americans as freeloaders who pay no taxes, who don’t assume responsibility for their lives, and who think government should take care of them. Fielding a question from a donor about how he could triumph in November, Romney replied:

There are 47 percent of the people who will vote for the president no matter what. All right, there are 47 percent who are with him, who are dependent upon government, who believe that they are victims, who believe the government has a responsibility to care for them, who believe that they are entitled to health care, to food, to housing, to you-name-it. That that’s an entitlement. And the government should give it to them. And they will vote for this president no matter what…These are people who pay no income tax.

Romney went on: “[M]y job is is not to worry about those people. I’ll never convince them they should take personal responsibility and care for their lives.”

Mother Jones has obtained video of Romney at this intimate fundraiser—where he candidly discussed his campaign strategy and foreign policy ideas in stark terms he does not use in public—and has confirmed its authenticity.

I don’t think that calling 48% of the country, and probably more than 60% of its senior citizens, moochers, is a death blow, if just because there has been so much bad ink over the past few weeks, whether it was his stumble on foreign policy, or the reports that his campaign staff is at each others’ throats. that it’s hard to tell which disaster will actually gain traction.

H/t Cthulhu at the Stellar Parthenon BBS.