The City of Baltimore is suing Wells Fargo, claiming that, “contending that its lending practices discriminated against black borrowers and led to a wave of foreclosures that has reduced city tax revenues and increased its costs.”
I expect this to be the first of many such suits from local governments taking it on the chin from foreclosures.
The folks at CA have discovered that if you join their SHC community, and you repeatedly get this offer, it will install a particularly nasty form of spyware.
Specifically, this spyware, “racks all your Internet usage – including banking logins, email, and all other forms of Internet usage”.
Hopefully, we will be seeing a class action suit over this.
Honestly, I have no clue as to what this appointment means.
Based on Mukasey’s statements on waterboarding, I was convinced that he was Bush and His Evil Minions&trade bitch, but this would seem to indicate otherwise.
What is the role of this committee? Does this mean anything, or is it just a title and a pat on the head?
He was on the committee before, but was not reappointed by Abu Gonzalez after he started investigating the Plame leak.
The pourpose of the committee appears to be, counseling “the attorney general on law enforcement issues.”
This is significant, because her warning letter (reproduced from TPM below) specifically mentions issues of oversight.
Harman has been trying to get her letter declassified for some time.
February 10, 2003
Mr. Scott Muller
General Counsel
Central Intelligence Agency
Washington, DC 20505Dear Mr. Muller:
Last week’s briefing brought home to me the difficult challenges faced by the Central Intelligence Agency in the current threat environment. I realize we are at a time when the balance between security and liberty must be constantly evaluated and recalibrated in order to protect our nation and its people from catastrophic terrorist attack and I thus appreciate the obvious effort that you and your Office have made to address the tough questions. At the briefing you assured us that the [redacted] approved by the Attorney General have been subject to an extensive review by lawyers at the Central Intelligence Agency, the Department of Justice and the National Security Council and found to be within the law.
It is also the case, however, that what was described raises profound policy questions and I am concerned about whether these have been as rigorously examined as the legal questions. I would like to know what kind of policy review took place and what questions were examined. In particular, I would like to know whether the most senior levels of the White House have determined that these practices are consistent with the principles and policies of the United States. Have enhanced techniques been authorized and approved by the President?
You discussed the fact that there is videotape of Abu Zubaydah following his capture that will be destroyed after the Inspector General finishes his inquiry. I would urge the Agency to reconsider that plan. Even if the videotape does not constitute an official record that must be preserved under the law, the videotape would be the best proof that the written record is accurate, if such record is called into question in the future. The fact of destruction would reflect badly on the Agency.
I look forward to your response.
Sincerely,
JANE HARMAN
(emphasis mine)
This letter bolsters the case for obstruction, either of justice or of a federal investigation.
Hans Von Spakovsky resigns from the FEC, though the Bush Administration has not withdrawn his nomination.
This is a man whose professional career has been, “Keeping N***ers from Voting”, and the fact that he is exiting the scene is a good thing.
One final, more trivial note:
Between that picture, which looks like a Waffen SS photo, which, juxtaposed with his name, just gives me the creeps.
Of course, he’s not a Nazi SS member. He’s a bigot, and a lier, and a follower of Jim Crow.
All par for the course for a nomination from Bush and His Evil Minions™.
Seriously, there should not be an issue here. This isn’t some obscure question of regulatory policy or philosophy. This is rape, and the Bush admin should not be covering it up.
I don’t know a lot about the place. I’ve never been there, and I’ve never been to Africa, and that continent has never figured prominently on my radar.
That being said, the current conflict appears to be driven by tribal rivalries, which in turn are driven by arbitrary colonial boundaries.
While I do not think that the US should be in the position of drawing boundaries in, or creating countries in, Africa (preventing Genocide is a moral imperative, despite the cowardice of GHW Bush, Bill Clinton, GW Bush, and Condoleeza Rice on this).
However, I do not think that the US should support the policy of the African Union that the colonial boundaries are sacrosanct.
Countries and boundaries have been fluid throughout history, and much of the strife in Africa comes from the insistence that barely viable nation states are forced to muddle on.
Kenya is a tribal conflict, exacerbated by corruption, but the corruption is largely driven by tribalism.
Simply put, when the primary consideration is tribal, clean effective government is at best an afterthought, because your guys have to beat their guys, but if the society is largely homogeneous, ethnic baiting becomes far less effective.
Lott resigned on December 18, so as to avoid the new ethics rules in his new lobbying job.
Mississippi law, Mississippi Code 23-15-855, requires that a special election occur within 90 days of a vacancy.
There is an exception, but only if a vacancy occurs in a year there shall be a general state or congressional election. (emphasis mine).
Since Lott could not wait an additional 11 days, he needed to collect his fat fees, the law is clear: a special election has to occur within 90 days.
Of course Haley Barbour, like any good Republican has decided that the law does not apply to him when it is inconvenient, so state Attorney General Jim Hood had taken him to court.
Here is the section of code:
SEC. 23-15-855. Elections to fill vacancies in office of U.S. Senator; interim appointments by Governor.
(1) If a vacancy shall occur in the office of United States Senator from Mississippi by death, resignation or otherwise, the Governor shall, within ten (10) days after receiving official notice of such vacancy, issue his proclamation for an election to be held in the state to elect a Senator to fill such unexpired term as may remain, provided the unexpired term is more than twelve (12) months and the election shall be held within ninety (90) days from the time the proclamation is issued and the returns of such election shall be certified to the Governor in the manner set out above for regular elections, unless the vacancy shall occur in a year that there shall be held a general state or congressional election, in which event the Governor’s proclamation shall designate the general election day as the time for electing a Senator, and the vacancy shall be filled by appointment as hereinafter provided.
(2) In case of a vacancy in the office of United States Senator, the Governor may appoint a Senator to fill such vacancy temporarily, and if the United States Senate be in session at the time the vacancy occurs the Governor shall appoint a Senator within ten (10) days after receiving official notice thereof, and the Senator so appointed shall serve until his successor is elected and commissioned as provided for in subsection (1) of this section, provided that such unexpired term as he may be appointed to fill shall be for a longer time than one (1) year, but if for a shorter time than one (1) year he shall serve for the full time of the unexpired term and no special election shall be called by the Governor but his successor shall be elected at the regular election.
SOURCES: Derived from 1972 Code Sec. 23-5-229 [Codes, Hemingway’s 1917, Sec. 6835; 1930, Sec. 6279; 1942, Sec. 3308; Laws, 1914, ch. 148] and Sec. 23-5-231 [Codes, Hemingway’s 1917, Sec. 6836; 1930, Sec. 6280; 1942, Sec. 3309; Laws, 1914, ch. 148], both Repealed by Laws, 1986, ch. 495, Sec. 335; En, Laws, 1986, ch. 495, Sec. 260, eff from and after January 1, 1987.
Hood’s suit is here. (pdf)
This is a significant step, though it is my understanding that by assigning someone from Connecticut, it means that they are not technically a special prosecutor.
Obviously the fact that a criminal probe has been opened is significant, and the man assigned, John H. Durham, was the one who successfully investigated and prosecuted the FBI agents who protected James “Whitey” Bulger and Stephen “The Rifleman” Flemmi because they used them as informants.
However, I do not expect him to be given much in the way of freedom over his investigation.
Tom Kean and Lee Hamilton have just made a specific allegation of a crime, obstructing a federal investigation.
There are people in the Bush Administration, and among the professional staff in the intelligence agencies, who
Me bad. It wasn’t Spinal Tap’s drummer. It was al Qaeda’snumber three guy, who just got blown up…again….
First, we have reports that the Pakistani police prevented an autopsy, and now we have reports that Bhutto was to hand over evidence of vote rigging to US lawmakers on the day of her death.
“Where an opposing candidate is strong in an area, they [supporters of President Pervez Musharraf ] have planned to create a conflict at the polling station, even killing people if necessary, to stop polls at least three to four hours,” the document says.
The report also accused the government of planning to tamper with ballots and voter lists, intimidate opposition candidates and misuse U.S.-made equipment to monitor communications of opponents.
What’s that phrase, “Will no one rid me of that troublesome priest?”
Musharraf definitely bears some of the responsibility for her death, as they clearly skimped on security in an attempt to reign in her campaigning, but it is increasingly looking as if his responsibility is broader and deeper.
TPM has the list.
If I count correctly, there are 44 officials, indicted, convicted, or having resigned under a cloud.
If I fell upward this way, I’d be ruler of the bloody universe.
It looks like the New York Times will be offering Bill Kristol a columnist gig for the next year.
It seems to be rather more limited than usual, with only 1 column a week, normally it’s 2, and only a year long contract.
While not as egregious a case as Jonah Goldberg*, Bill Kristol is the beneficiary of “Conservative Affirmative Action”, much as is the brothers Kagan, who all seem to dance from position to position based on little more than who their parents were.
Nepotism is a problem because you end up with idiot sons managing things that they have no business managing. You can refer to Andrew Sullivan’s post about John Podhoretz becoming editor of Commentary if you want it in the short form with lots of snark.
I’m not a fan of Mr. Sullivan, but when he’s on, he can be amusing.
*Seriously, I’m embarrassed by this guy because we share the same nationality†, I know his mom is a “person of note” in the community, but you need to find someone with more of a flair for original thought, like Jayson Blair of Stephen Glass.
†Carrot Top fills me with the same feelings too.
Davit Sirota has a very good analysis of the despicable betrayal of the American people by the so called “moderate” Blue Bush Dog Democrats with regards to basic fairness and the economic stability of the United States.
The bill in question, HR 3609, is rather simple: It would allow a bankruptcy judge, “To ameliorate the terms of abusive “subprime” mortgages.” Under the current law, judges can already do this for investment properties, and for vacation homes, but for primary homes? Das ist Verboten.
So the judge could vitiate prepayment penalties to allow for refinance, or change interest rates, or modify fees charged for things like taking a phone call from a customer, though it would not give the judge power to forgive principal, since a mortgage is, after all, a secured loan.
While I favor a more expansive bill, one that would cover all consumers, this could go a long way towards fixing the system. As it currently stands, many loan servicers are legally unable to modify the terms of a loan, because their contracts with the bond holders prohibit it.
Even when they can, there is little incentive for them to negotiate in good faith.
What this means, of course, is more Chapter 7 liquidations, as opposed to Chapter 11 reorgs, more foreclosures, more empty houses blighting more neighborhoods, and more turmoil on wall street. It is The Tragedy of the Commons writ with trillions of dollars to be eventually be baid for by all of us.
First, it’s clear that even by the standards of Pakistani politics, she was highly corrupt, as mind boggling as this characterization was.
This is something that is frequently ignored, as the westerners that she met with were dealing with someone who went to Harvard/Radcliffe and then Oxford. She was well spoken, and knew how to make her point in terms that were familiar to the western officials whom she studiously cultivated.
In this way, she was very similar to Ahmed Chalabi, whose support from US officials, despite a history of criminal, dishonest, and corrupt dealings, managed to convince US figures who were profoundly ignorant of that part of the world to support his interests.
That they both went to college at prestigious western schools, (Chalabi received his BS from MIT, and his Ph.D. from the University of Chicago) is not an inconsequential part of this equation. It taught both of them how to communicate their interests in a very fluent way with their American counterparts.
That being said, it is clear that Bhutto was far more interested in actually governing and implementing policies, as opposed to Chalabi’s rather more venal interests.
Additionally, as the head of a the only major opposition party was assassinated yesterday, and with the elections less than two weeks away, it’s clear that the elections will not mean anything.
All that they will do is to serve as a rubber stamp of Pervez Musharraf’s power, as the only other potential rival to power, Nawaz Sharif, has not been allowed stand for election.
As to Mushaffaf, he is largely the product of, and completely beholden to, the Pakistani military establishment (which includes Pakistani intelligence services) which has little or no interest in pursuing the American anti-terrorism or anti Taliban agenda.
The Pakistani military’s culture resembles to a very large degree that of the German Imperial Navy pre World War I. They are focused on “der tag”*, the day, i.e. the eventual large scale conflict with India much in the same way that the German fleet focused on an eventual showdown with their British counterparts.
As a result, both organizations had limited effectiveness to the task at hand.
As such, it is no surprise that very little of the military aid that the US has sent to Pakistan has gone towards fighting the Taliban or terrorism, but has instead been directed toward India.
As to who is directly responsible for the assassination, I do not know, and neither does anyone else writing about it, though I lean toward various Pakistani warlords in the generally lawless border regions who were directly threatened by Bhutto’s policies.
However, it is clear that Musharraf deliberately impaired the security arrangements for Bhutto, probably in an effort to hamstring her ability to campaign, and as such he does bear some direct responsibility for her death.
I don’t see any resolution of this situation as being favorable to the United States, a quick perusal of Sharif’s record shows him having amended the constitution to make removal of a prime minister nearly impossible, and considering the fact that Pakistan has somewhere between 30 and 100 nuclear weapons, and the possibilities for the average Pakistani citizen are even worse.
There is a more general lesson to be learned though, and that is that the US has for a very long time generally cast about for “our man” in various places in the world of interest, rather than looking at issues of governance and process, and the results when this individual falls up short, as has happened when the US withdrew to some degree from Musharraf and placed its chips on Bhutto, have almost always been disastrous.
*At official events banquets, the German Navy always had a toast to “der tag”, translated as “the day”, referring to the eventual clash of fleets.
Nouriel Roubini sees the following signs of an upcoming recession (I consider them to be signs of a current recession, but I’m not an economist):
In terms of more specific news, we have mortgage applications falling off a cliff, despite a rate cut, Fitch saying that it may downgrade residential mortgage backed securities (RMBS) because the insurers for these bonds are basically insolvent, Goldman-Sachs is predicting that Citigroup may be forced to cut its divident (implying that there is more bad news to come), the Chinese Director of the State Administration of Foreign Exchange saying that the US should not cut rates any more because it will “hammer” the dollar, there is increasing evidence that commercial real estate is starting to tank too (It typically lags residential real estate by about ½ year), and residential real estate prices have fall by 6.7% year over year (and at about an 11.7% rate for the past quarter).
According to this LA Times acricle, the retributive prope of the the CIA Inspector General by the CIA has yielded the desired results, “CIA Inspector General John L. Helgerson has consented to more than a dozen procedural changes designed to address complaints that investigations carried out by his office were unfair to agency employees”.
The fact that the IG signed off on a letter from an Assistant AG Kenneth Wainstein telling congress to back off on its investigations without any explanation of how such an investigation could jeopardize the AG/IG investigation, is a pretty good explanation of what happened.
It appears that the old saying is true, an operation is preformed, and there are three possible results:
Interesting article in the Daily Telegraph, Crisis may make 1929 look a ‘walk in the park’.
Bullet point summary:
As I’ve said, we are seeing a breakdown of the Ango-Saxon model of capitalism, where minimal regulation is really an excuse for klepto-capitalism.
I do not see a solution to this except through a devaluation of currencies, particularly the $US.
The fact that “sales incentives” are really stealth price cuts has has finally been noticed by the Wall Street Journal.
Buyers, sellers and other market participants typically monitor fluctuating home values through sale records that legally have to be listed with county clerks. But incentives offered to buyers — ranging from free cars or furniture to cash rebates — are making those prices less reliable as a sign of what buyers actually paid, netting out the giveaways. And that may be misleading lenders and people shopping for homes, some real-estate lawyers and appraisers warn.
Well, duh.
That is the purpose of these incentives, along with artificially inflating realtor’s’ commissions. (If the price were cut instead, the realtors would typically take a hit on their commission of over $1000)