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Laugh… 14 September 2010

Posted by marisacat in 2010 Mid Terms, 2012 Re Election, Inconvenient Voice of the Voter.
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Blue tailed damselfly

Blue tailed damselfly [Eddie Nurcombe/BARCROFT]

This damselfly just made me laugh – she comes with her own attached opera glasses…

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1. Madman in the Marketplace - 14 September 2010

My state senator, a anti-woman “moderate” donk deep in the pocket of corporate interests went down to a challenge by a younger liberal currently serving on the county board.

marisacat - 14 September 2010

that is good news!

Madman in the Marketplace - 14 September 2010

I’ll take what I can get.

marisacat - 14 September 2010

I think there ARE interesting, even good, people at the state level… no question about it.

Madman in the Marketplace - 14 September 2010

he’s strong on mass transit, advocates against the school voucher program and for fixing the screwed up system here in WI that chronically under-funds Milwaukee public schools and says, straight out when asked, that he’s pro choice. No hemming or hawing or BS about how we all think abortion is a tragedy etc.

if anything good is going to happen for a while, it’s going to be local.

marisacat - 14 September 2010

I agree on the local…

I read some reporting on Sharpton, speaking of the voucher system…. it seems he may be accepting funding from the pro voucher forces.

So Sharpton.

2. marisacat - 14 September 2010

They, those infernal ptb, so want to annex Israel.

.Rendell: “Deeply embarrassed” over spying on peaceful groups

Pennsylvania Governor Ed Rendell apologized Tuesday to groups whose entirely lawful events were the subject of regular anti-terrorism reports provided by a Philadelphia-based Israeli-American outfit to state law enforcement agencies, the AP reports:

An embarrassed Gov. Ed Rendell apologized Tuesday to groups whose peaceful protests or events, from an animal rights demonstration to a gay and lesbian festival, were the subject of regular anti-terrorism bulletins being distributed by his homeland security director.

Rendell said that the information was useless to law enforcement agencies and that distributing it was tantamount to trampling on constitutional rights. ….

“This is ludicrous,” Rendell said. “And I apologize to any of the groups who had this information disseminated about their activities. They have the right to protest.”
….

A little hard for Rendell to showily declare he is a “Gay American” and thus throw attention from this version of Cipel, the McGreevey NJ honey pot.

I suppose Rendell could say,

“I am a bizarre old trollope and we do this sort of thing all the time. And, fuck off. Like we so care nananananaa.”

It’s what he is thinking under ll that “apology” slop

Quite a few embedded links at the Rozen post….

marisacat - 14 September 2010

Maybe it is WE who should just agree to be annexed by Israel.

Geesh.

A further article on the firm’s website, dated September 2008, states that

all of the intelligence information the firm collects in the United States is sent for analysis to Israel.

“All of the information ITRR’s staff creates is sent to its monitoring center in Jerusalem, where it is analyzed and verified with other local sources.”

Several hours last night on our local talk radio were basically pushing invading Mexico, saving Mexico from itself. Not the first it has been pushed either…

Lovely, a war, a walled border, a border war… an imprisoned people, etc.

They’ve gone insane.

So maybe what we have is:

the Military Industrial Israeli US Congressional Complex.

BooHooHooMan - 15 September 2010

I wonder if I look fat in my pic. LOL.

Fuck em. Rendell went right down the list hooking up the connected Jewish law firms and bond brokers and they PILLAGED PA. They were his base going back to when he was quashing shit as an ADA in Philly. Then DA. Then Mayor. DNC Chair, Gov.

Not that it matters much as he heads to the boardrooms ,big fat media head-land, or an Obby appointment ( While they last!) but it is nice to know he’ll never be elected to anything in PA or prolly anywhere else, ever again.
He left

BooHooHooMan - 15 September 2010

a fucking wreck.

3. BooHooHooMan - 15 September 2010

HA!HA! Fenty, ObWannaBe …

How Adrian Fenty lost his reelection bid for D.C. mayor

By Nikita Stewart and Paul Schwartzman
Washington Post Staff Writers
Wednesday, September 15, 2010; 4:56 AM

One afternoon in late June, D.C. Mayor Adrian M. Fenty’s political advisers invited their boss to a downtown conference room to report an unsettling development: Focus groups commissioned by the campaign were saying that Fenty’s leadership style was offensive and that he was oblivious to constituents’ concerns

You couldn’t drive to the grocery store in the MidAtlantic in 2008 without Fenty doing roadwork for Ob. How’d THAT work out? LOL.

marisacat - 15 September 2010

I got a big kick out of reading how he lost the black vote… but kept the white vote.

GOOD LUCK!

He’ll go off to some corporate job. Joblet.

4. ts - 15 September 2010

Happy Lehman Day

The reason, of course, is that Lehman didn’t make a whit of difference. Much like the 29 crash, which happened four months after economic activity had been contracting, Lehman occurred several months after the economy had already begun an inexorable decline. If we had saved it, perhaps the stock market would not have gotten as low as it did (it rallied later, anyway), and perhaps the Treasury would have to have paid another $200 billion in loan guarantees to a buyer. Otherwise, not a damn thing would have changed.

As Mark Whitney notes today, Lehman was allowed to fail because they wanted to push TARP through.

Even before Lehman had failed, Bernanke started slashing rates and setting up lending facilities to provide assistance to ailing financial institutions. But now, the Fed chairman began to drain billions of dollars of liquidity from the system to increase the stress in interbank lending and push Libor higher. Bernanke and Paulson were deliberately exacerbating the crisis to force congress into passing Paulson’s $700 billion bailout package, the Troubled Asset Rescue Plan, aka–TARP. Economist Dean Baker sums up Bernanke’s role like this in an article titled “Ben Bernanke; Wall Street’s Servant”:

“This is not the first time that Bernanke has done Wall Street’s bidding. When Goldman, Citigroup and the rest were on the edge of bankruptcy, Bernanke deliberately misled Congress to help pass the Troubled Asset Relief Program (TARP). He told them that the commercial paper market was shutting down, raising the prospect that most of corporate America would be unable to get the short-term credit needed to meet its payroll and pay other bills. Bernanke neglected to mention that he could singlehandedly keep the commercial paper market operating by setting up a special Fed lending facility for this purpose. He announced the establishment of a lending facility to buy commercial paper the weekend after Congress approved TARP. Of course, the whole crisis stems directly from the Fed and Bernanke’s fealty to Wall Street.” (“Ben Bernanke; Wall Street’s Servant”, Dean Baker, Industry News.org)

While it’s clear that Bernanke allowed credit conditions to deteriorate, the larger question remains: Did Lehman jump or was it pushed? Keep in mind, that Bear Stearns was stripped of its toxic assets and bundled off to JP Morgan with a clean bill of health. That same precedent should have applied to Lehman as well. So, when the bankruptcy was announced on the morning of the 15th–and the Fed did not intervene–all hell broke loose. But, then, Bernanke and Paulson really had no other choice. Either they take advantage of the crisis to wrangle the $700 billion out of congress or they walk away empty-handed. And, if they walked away empty-handed, the rest of the big 5 investment banks–including Paulson’s former employer, Goldman Sachs–would have folded overnight. It was “do or die”.

TARP itself was unnecessary. The Fed had guaranteed about $17.1 TRILLION of obligations, guaranteeing the debtors that if they could not find the cash or credit to pay, they could borrow for free from the Fed through one of their many emergency facilities.

The Fed could have funded $700 billion for TARP with chump change. The point is that the big financial companies own Geithner and wanted a direct pipeline to push off bad assets onto the treasury. TARP simply gave them a vehicle to use as subterfuge – TARP funds would in theory be paid back, and TARP funds in theory gave the Treasury “ownership” of borrowers.

However, that wasn’t the point. Giving Treasury this “authority” also gives them the “authority” to pay $21 billion to AIG’s creditors in exchange for now worthless credit default swaps (ironically, Geithner has claimed LACK of authority to do anything different). It also allows Treasury to take over Fannie and Freddie and authorize them to buy back worthless mortgage back securities from private firms for full value. After the securities are declared worthless, Uncle Sam pitches in with yet another $50 billion “capital injection” to cover the losses.

Even embezzling $1 trillon from the Treasury is not enough.

The Fed and Treasury (Ed: ha-ha!) have done an impressive job of bandaging the financial system together (Ed: by shoving as much as they can on the taxpayer), but stability is still largely an illusion created by zero rates, a massively expanded Fed balance sheet, and Enron-style accounting at the banks. True, the panic phase of the crisis may be over, but the Depression is ongoing. Credit remains constrained, economic activity is weak, and unemployment is much too high. Most sectors of the economy are still in deep distress. The Fed’s emergency programs have done nothing to reduce foreclosures or lower unemployment.

5. catnip - 15 September 2010
6. ts - 15 September 2010

Even more harsh truths: The soft bigotry of low expectations

In a country with almost 15 million people out of work, it is amazing that any economists still have jobs. This one is their fault first and foremost. Economists are supposed to know about the economy and provide advice on how to avoid disasters before they happen and help us recover from the bad things that happen in spite of good advice.

The economics profession has not done well on this simple scorecard. Remarkably, rather than improve their game, economists are now busy dampening down expectations so that the public will not hold them responsible for the state of the economy.

Towards this end, a group of Fed economists recently put out a new study claiming that it was impossible for economists to recognize the $8 trillion housing bubble before it wrecked the economy. In effect, they argued that economists should not be blamed for this failure because:

“The state-of-the-art tools of economic science were not capable of predicting with any degree of certainty the collapse of U.S. house prices that started in 2006.”

This raises the obvious question: If economists can’t see an $8 trillion housing bubble, what can they see? This is a bit like the firehouse where everyone sits around calmly sipping their coffee as the school across the street burns down. Completely missing the largest financial bubble in the history of the world is pretty inexcusable, even if economists continue to make excuses.

Having failed to prevent disaster, economists are now anxious to tell us that there is nothing that they can do to remedy the situation. The story they are pushing is the unemployment is structural, not cyclical. This means that people are not unemployed because of a lack of demand in the economy, but rather they are unemployed because there is a mismatch between the available jobs and the skills and location of the available workers.

He is right that there is a problem of insufficient demand, though no amount of demand is going to get the mortgage broker their job back.

The Fed and Congress could restore the economy right away but they won’t do it.

The Fed could simply bail out every underwater homeowner, by creating reserves and using these to pay off the difference between the value of the home and the value of the mortgage debt. The homeowners could then refinance the remaining debt as a single 30-year fixed rate. This would reduce household expenses by $500 billion to $1 trillion and free up money to either de-leverage or spend.

Then Congress could allow the Bush tax cuts to expire and take all the revenue this generates and put it into patching state and local finances and padding unemployment insurance so that it’s, a) permanent (no 99 week cutoff as long as you’re looking for work) b), for everyone, not just those laid off, but also the quit and fired, and c), a $100 or $200 federal subsidy in addition to the state payment. All this money is guaranteed to be spent right away and an instant stimulus.

The combination of these two will add 5-7% to GDP growth and generate about three million jobs, and once you get job growth and output growth rolling, no further stimulus is needed. The unemployment rules can revert to how they are now once the unemployment rate drops below 6%.

This is doable now, but it won’t be done. It’s not that it will result in inflation or other negative consequences (it won’t). It’s just not palatable to the bigotry of our ruling class.

marisacat - 15 September 2010

They could re-establish the COLA for Soc Sec and disabled on SS, which is 13 billion into the economy….

It is not even discussed, and he removed it for two years runnng, this and next.

they have no intention of doing even the easy things to ease the cash flow in the country.

Someobody tie his apron strings tighter. Cut off his air.

ts - 15 September 2010

And the food stamps, $25 billion taken out of that to pass some bill or other. 44 million Americans on food stamps right now – a record – and they remove $25 billion, about 0.1% of GDP and less than 1% of the budget. Chump change. But you know all those unemployed poor people are lazy and useless.

marisacat - 15 September 2010

Yes Boxer was very happy to tour the political shows here and trumpet how money fro schools and teachers was “paid for” … by whacking away at future allotmented money for Food Stamps… and Head Start too as it happens.

then, at least out here, it was reported the state and schools immediately used the money for all kinds of things, not what it was intended for.

Not that I care… and not that by now it matters.

ts - 15 September 2010

And just as a blast from the past: here’s a WaPo article from May 10, 2005.

Bane amid the housing boom: Rising foreclosures

The bubble was evident for all to see. The only way to keep the bubble going was to push marginal people into loans they couldn’t afford.

And just check out when personal bankrupcies started to accelerate 1980-freakin-six

Economists are wedded to a 150-year-old theory that hasn’t worked in 150 years. It really disgusts me to see a discipline that actually can be useful, reduced to jingoism and blind faith.

marisacat - 15 September 2010

it was a long bubble… sad to say, and promoted from the heights.

LOL in 2004 Gingrich said one of the things that makes San Francisco un-American and less than patriotic is that home ownership here was only running at less than 35%.

And it was many many years ago that the whole system of buying a house, mortgaging and so on, began to carry such enormous costs that it was really a very tricky proposition. You imo had to inherit, manage to buy severely under the local market, somehow, turn it over relatively fast for profit… etc.

Anything else was a bit chancey. I htink by 2005 a lot of house flippers were extremely wary of the whole thing, it was turned over to the rubes and the new comers…

And that was before all this exotic financial instruments built from RE and the scams that go along with it…

ts - 15 September 2010

It really shows how expectations change gradually, incrementally. No single change indicates a problem, but flash forward a few years and compare what was expected then versus what was expected way back when.

In 1996, economists believed that “full employment” was an unemployment rate at 6%, maybe 5.5%. Anything lower was a signal to the Fed to start raising interest rates to stop an inflationary spiral.

Then came the late Clinton years and unemployment at 3.5% – no inflation. Of course, the stock market was inflating pretty bad, housing was just gaining steam, and people were paid in stock options instead of cash, but if you overlooked that, maybe we were in a new paradigm. The dot.com bust returned us to reality.

But the 2000-2001 recession wasn’t bad, as far as recessions go, and housing didn’t even slow down to catch its breath.

Pretty soon, unemployment was back down before 4%, the Dow was back at 14,000 and everything was “back to normal”.

If you overlooked the zero savings rate, the real wage, which was below 1970s levels even at the top of the boom, and household debt to income ratio of 200% (in 1945 it was virtually nonexistent). Yeah, it looked normal, but what was normal? The bottom 90% was sprinting to stay in place, but you wouldn’t know it by watching CNBC.

I remember seeing Robert Schiller, Nouriel Roubini, and a number of other forgotten economists noting that the normal was clearly not so. They were practically laughed out of the studio in 2005 for even suggesting that housing prices could possibly decline.

It is of the utmost importance to realize this: given the actual facts which it was then possible for either businessman or economists to observe, those diagnoses — or even the prognosis that, with the existing structure of debt, those facts plus a drastic fall in price level would cause major trouble but that nothing else would — were not simply wrong. What nobody saw, though some people may have felt it, was that those fundamental data from which diagnoses and prognoses were made, were themselves in a state of flux and that they would be swamped by the torrents of a process of readjustment corresponding in magnitude to the extent of the industrial revolution of the preceding 30 years. People, for the most part, stood their ground firmly. But that ground itself was about to give way. – Joseph Schumpeter, Business Cycles, 1939

marisacat - 15 September 2010

But the 2000-2001 recession wasn’t bad, as far as recessions go, and housing didn’t even slow down to catch its breath.

it was a lot harsher here than elsewhere…. and RE barely came back, in reality, only the frantic bubble and it was tempered by how rough the ‘dot com dot died’ had been – even charts, whcih I am skeptical of, bear this out, our RE never bubbled up as much as it did in other areas, due ot the earlier bubble (count the bubbles)… and because of how harsh the global recession of the late 80s and early 90s was. It hit business in SF from law firms to financial firms very hard, I used to get out the opera glasses, for real, and take a look at all the empty floors in the buildings around me… floor after floor after floor after floor…

A friend of mine died in 1996 and among other things left a small sort of pied a terre on Telegraph Hill and 3 properties up in Yountville in the middle of the most desirable part of the wine region. It took fucking forever to sell those properties… all were in good condition, one undeveloped parcel in Yountville was zoned for “mixed use” and one was a residence with detached rental home…

Forever. And her executor was a RE agent, a good one…

I think the past 20 years have been a very mixed bag, with a lot of bust hidden or ignored, a lot of hype used and sold to cover the long slow drain…

As Alan Abelson used to say of the stock market, too many people think it is a tree that grows forever…

lucid - 15 September 2010

TS – many parts of the country have never recovered from the 2000-2001 recession. In my opinion, not as an economist, it was the beginning of the end.

I’m not saying that the loosening of credit to unprecedented levels that happened in that recession was a bad thing. It benefited a lot of small businesses and regular people – very briefly. Briefly, because it manufactured the pain within 5-10 years. There was nothing sustainable about it. In any sector of the economy. Some used it wisely, most got burnt. [I was of the latter...]

As for the issue of economists, I’m of the opinion that it is a religion rather than social science. While macro-historical trends can be plotted and analyzed, [and by who's analysis?] the rest is akin to slaughtering goats in hopes next year’s crop don’t fail.

ts - 16 September 2010

Marisacat – the epicenter of the dot.com bust was SF. My uncle worked as a consultant for Sun. Lost his job and his life savings (Sun stock went down 95%). His office was in the South of Market area down by the stadium. My family dropped by when we were in town. His was the only occupied office in the building – and possibly the entire block. It was a complete ghost town.

Lucid – Oh, I agree with that. The WSJ did an article a year or two ago on about a dozen 40 and 50-something engineers that worked together for Grumman or McDonnell Douglas or some such place. Defense jobs. Supposedly secure. They all got laid off in the 2000 recession and even in 2009, at the time the article was written, only one had found a job paying near what they made in the 90s. Most had bounced between Starbucks jobs. A few had gotten hired back as part-time contractors with no benefits, but they were the first to go when things slowed down again. They hadn’t had anything like job or life stability for a decade. Most had burned through their 401k’s and other assets just to keep going. They were in their 60s. Little hope. Just discarded.

While the recession statistically was mild – it officially lasted only two quarters and the unemployment rate never got above 7% – the Bush II-era recovery was the weakest ever. At least until this one. I think if output was adjusted for true inflation, rather than from the artificially manipulated official versions, in real terms it probably never did break the downward trend.

For mainstream economists, you’re absolutely right it’s religion. I’d go so far to say it’s a cult – walled off in a compound somewhere and uninterested in interacting with reality.

marisacat - 16 September 2010

It was the center, but it was engineered by Wall St and VC. Aside from every idiot thinking they could make billions from a humble start up to having the check-out person at the supermarket lecture on buying stocks* (which happened to me) on top of all of that, small companies were pushed to go public, when they should have been allowed to grow, if indeed they could.

And I maintain that dot com dot died bubble was ”needed” (not in any good way) to jolt this area out of the lingering effects of the earlier recession.

*certainly people making small wages can make smart investments and purchases, but it gets questionable when so eager to lecture.

marisacat - 16 September 2010

oh I should add, it was August 2000 when the check out fellow lectured me (unbiden) on buying stocks… the same week a cab driver ticked off his holdings to me. I came home from the cab ride and cashed out what was in my 401K, to money market.

I am sure I cashed out early, but I feel so lucky that I did…

7. lucid - 15 September 2010

Also

Pretty soon, unemployment was back down before 4%, the Dow was back at 14,000 and everything was “back to normal”.

The real unemployment rate under Bush never went down. It went logarithmically up. People who lost their jobs and never got new ones. The millions who came into the labor pool over those 8 years never found jobs. The ‘unemployed’ are only those who have held a job previously and are currently eligible for ‘unemployment benefits’. Really, we’re going on over a decade of ‘no vacancy’ signs.

Them ‘conomists ‘jes like to spin it reel good.

8. catnip - 16 September 2010

This is frightening: Queen Elizabeth in 3D on the teevee. Could be worse though – could be His Popeyness.

ts - 16 September 2010

Ugh, I was thinking of him crawling out of the tv like Samara in The Ring.

ts - 16 September 2010
catnip - 16 September 2010

“I must say that these revelations were a shock for me, a great sadness,” he said of the crisis that has undermined the church’s moral authority in many parts of Europe and beyond.

A shock?

Meanwhile: Pope visit: Cardinal Walter Kasper won’t apologise for ‘Third World’ comment

Cardinal Walter Kasper, the Catholic cardinal who likened Britain to a Third World country, overshadowing the start of the Pope’s visit, will not apologise for his remarks, his personal secretary told The Daily Telegraph.

Winning hearts and minds everywhere they go.

catnip - 16 September 2010

He also said that a streak of “aggressive new atheism” was rife in British society.

About bloody time.

marisacat - 16 September 2010

in a pinch they do genitals!

marisacat - 16 September 2010

Thank god he has already come to America. And S America.

9. catnip - 16 September 2010

Online documentary series about the crash: Meltdown

10. catnip - 16 September 2010

Haha…the opening auction bid to meet David Waldman (KagroX) of dkos at NN11 or in DC is $67.00. $67.00. Any takers??

catnip - 16 September 2010

They’re also auctioning off a collection of Greg Palast dvds. Interesting, since he was labeled as being “dangerous” on dkos in 2007 – fully backed by Meteor Blades.

catnip - 16 September 2010

oooooo….ahhhhhh……Own Governor Schweitzer’s Bolo

(I know you want THAT one, BHHM!)

11. marisacat - 16 September 2010

All I could htink is will we get a speech… geared to play to ……whomever.

Breaking News from ABCNEWS.com:

U.S. Poverty Rate Jumps to 14.3 Percent, Highest Since 1994 [10:10 a.m. ET]

ts - 16 September 2010

For a single adult in 2009, the poverty line was $10,830 in pretax cash income; for a family of four, $22,050.

That’s an extremely low bar, and yet one in seven is below it. In any major city, you’re functionally in poverty at 2-3 times that level.

marisacat - 16 September 2010

oh the poverty bar is ridiculous. It has no bearing on rl.

12. catnip - 16 September 2010

Brrrreaking: Doctor critical after Hopkins shooting; suspect barricaded at hospital

A nurse who said she was on the floor at the time of the shooting said that the shooter was upset about the medical treatment of his mother. He was threatening to jump out of a window, she said.

marisacat - 16 September 2010

but if his mother was treated there, he probably knew ways in… last reported here, he is barricaded in a patient’s room..

catnip - 16 September 2010

CNN just reported that he’s been “captured”.

marisacat - 16 September 2010

Good idea…

catnip - 16 September 2010
catnip - 16 September 2010

Now CNN is saying the shooter isn’t in custody.

marisacat - 16 September 2010

One news report said he was shot…

catnip - 16 September 2010

Bizarre. From the presser: they’re saying the situation is “contained” to one floor and that emerg is still open and anyone with business at the hospital should still go there.

marisacat - 16 September 2010

He is “contained” to the 8th floor. Nothing more. Local TV here running live film from WBAL and it looks chaotic. Not the best police spokesperson.

catnip - 16 September 2010

I wouldn’t be going anywhere near a building where there’s just been a shooting and the suspect hasn’t been caught. It’s not like there aren’t other emerg depts in the city.

catnip - 16 September 2010
marisacat - 16 September 2010

think they evacuated the bldg, they can’t keep running the ER, in terms of accepting patients. The thing is completely unstable, whatever they say about “contained”.

13. marisacat - 16 September 2010

School evacuation………… gas smell… right near where the pipeline exploded.

Busy day….

14. catnip - 16 September 2010

CNN reporting that the cops shot the suspect. He’s dead.

marisacat - 16 September 2010

LOL News here is saying he shot himself and “a relative”.

Maybe they can sort this out. …………………………

catnip - 16 September 2010

Jeebus. Now MSNBC is saying he committed suicide after shooting the relative with him. Can these guys get their stories straight?

marisacat - 16 September 2010

amazing isn’t it?

Apparently from one report I caught, she walked in, on her own 2 days ago, and now is incapacitated… hence the major stress. And whatever else.

What a fucked up confused mess.

brinn - 16 September 2010

I’m sure that is doing wonders for his mother’s health….

What a fucked up mess of a country we live in.

brinn - 16 September 2010

Well, I guess if she’s dead, then her health is a moot point…

marisacat - 16 September 2010

hi brinn!

brinn - 16 September 2010

Hi Mcat! How’s things? I am in serious need of gills….yesterday it was a high of 96 and over 80% humidity most of the day.

I absolutely HATE “fall” in Austin….UGH.

catnip - 16 September 2010

Snow here tonite. Yes, really.

brinn - 16 September 2010

*sigh*

I miss snow. We had some last year for about 3 hours (that’s how long it lasted, not how long it actually snowed).

15. brinn - 16 September 2010

My GODDES, he is a fucking idiot!!

Obama Prepares to Sort of Appoint Elizabeth Warren to Something

But in case anyone thought Obama was starting to “get” that America wants a president who will stand up to the economic royalists and do the right thing, White House insiders indicated Wednesday night that he has decided against appointing Harvard law professor Elizabeth Warren to head the new Consumer Financial Protection Bureau. Instead, Obama is expected to appoint the hero of reformers to an advisory post where she will report to Treasury Secretary Timothy Geithner.

If I were Warren I would tell him to shove his “advising” job — reporting to Geithner?!? Obama is a fool.

Indeed, if Obama were serious about tipping the balance away from Wall Street and toward Main Street, he would replace Geithner with Warren.

That’s too much to ask of this administration.

But it should not be too much to ask that Warren be given the job she conceived and campaigned to create.

Shoulda woulda coulda — dream on. He’ll never appoint her to anything — she is one economist who actually
a) knows what the fuck she’s talking about
b) talks about it in ways the public can understand
c) wants to CHANGE shit!

catnip - 16 September 2010

I was reading the reactions at the Big Orange Excuse Factory: Yay! He appointed her to…well, we don’t know wtf she’ll be doing…but he appointed her! Send Money Now!!

16. brinn - 16 September 2010

oooppppssss…forgot to close the link…

brinn - 16 September 2010
marisacat - 16 September 2010

thanks for that…

I read earlier that Dodd was saying to Ob that the whole thing is so ”fragile”.

I hope she refuses it. Why work for Geithner. No point.

brinn - 16 September 2010

“Fragile” — how precious.

My worry is that she WON’T refuse it and then trash her own credibility by getting sucked into the black hole of obliviousness that is the Obama admin….

so screeeewed. Someone remind my why I am raising kids in the midst of this madness, again? Please?

catnip - 16 September 2010

We’re always in the midst of madness. I don’t think there’s any good time to have kids.

ts - 16 September 2010

I think I said it before…I’d rather pound nails into my skull.

brinn - 16 September 2010

Than raise kids, ts? They are actually the only thing that keep me sane, all told! ;)

brinn - 16 September 2010

Oh! Maybe you meant working for Geithner?

lol!

17. catnip - 16 September 2010

Obamalama’s giving another presser today: on edumacation this time.

catnip - 16 September 2010

They sure like their slogans, this bunch: “Educate to Innovate”.

How about “Speechify to Stupefy”?

marisacat - 16 September 2010

From Speech to sleep. He really is a soporific. Better than a pill.

The era of sonambulism.

catnip - 16 September 2010

Oops. Rick Sanchez cut him off and MSNBC isn’t showing it. Blasphemy!

18. catnip - 16 September 2010
marisacat - 16 September 2010

hmm Jimmy must be interested in cutting what ties are left… the Dems regard Teddy and the myth of his greatness and liberal lion bullshit and how he loved the little black people and how he was a fighter for health care………..

Be interesting to watch the blowback.

I wonder if the Kennedys were chagrined that, from what I read, there was scant interest in the Teddy undertaking, on screen memorials and whatever. Very low viewership… to say nothing of Camelotta… and her spectacular, short and failed bid for NY senate.

19. catnip - 16 September 2010

International food fight! White House denies Mrs. Obama made ‘hell’ comment

WASHINGTON — The White House is denying that first lady Michelle Obama ever described her White House life as “hell.” Mrs. Obama’s spokeswoman, Katie McCormick Lelyveld, responded Thursday to a purported comment attributed to Mrs. Obama in a forthcoming book, “Carla and the Ambitious,” about French first lady Carla Bruni-Sarkozy. The book says Bruni-Sarkozy recalled that during a recent White House visit with her husband, the French president, she asked Mrs. Obama about her new role. According to the book, Mrs. Obama replied: “It’s hell. I can’t stand it.”

The French Embassy in Washington also released a statement denying that Mrs. Obama ever said those words. The Embassy says Bruni-Sarkozy “distances herself completely” from the book, which is due out Friday.

marisacat - 16 September 2010

:lol:

brinn - 16 September 2010

Oh, who the hell cares? I hope it IS hell for poor poor Michelle.

Madman in the Marketplace - 16 September 2010

hi brinn! Hope you and the kids are hanging in there!

brinn - 16 September 2010

Hi madman — yeah, we’re hanging in/on! Thanks for asking! You?

Madman in the Marketplace - 16 September 2010

I’m just peachy, and more than ready for the weekend.

20. marisacat - 16 September 2010

hmm Someone has departed FDL due to censorship, with a post at corrente. More interesting than I had expected it to be…

He attributes the imagery of liberals in veal pens to Hamsher… but it was Dennis Perrin, from whom she took it.

Tho I doubt that (DP) is the first use of the veal pen image compared to various groups herded physically or ideologically…

21. Madman in the Marketplace - 16 September 2010
22. Madman in the Marketplace - 16 September 2010
23. diane - 16 September 2010

I’m sure the $125K Rendall/Tomb Ridge(Hershey’s ….or is it Mar’s Bar …or are they one and the same?), et al ….. Philadelphia/Israeli …admittal, was a dust mote on an iceberg …

Some fairly serious shit goin on ..

apropos of it all …(in my wee thoughts), I almost look forward to that Solar Storm that’s being tossed and tested about ….(if it weren’t for the hospitals and those facing the normal, AND, bewildering Freeze spots (can we say India about 6 months ago?) encompassed in the scheme of things).

oopsy ………………..

best to know How To Read A Map without WIFI or electricity.

I rather like this, which, I will attribute to Nicholas Carr (not to be confused with female DA in Santa Clara County, California) :

…..breadth of knowledge, does not equal depth of knowledge ….

(speaking of maps, isn’t it quaint that it’s likely that the Google maps printed out daily in Sly Con Valley were/still are, pre GPS? more horrendously tree killing than actually buying a Paper Map ………my heart, and liver, go out to all those in the unemployed in the ancient map industry …talk about babies and bathwater……)

marisacat - 16 September 2010

or as I say, soooo many people confuse information with knowledge.

tho I am very fond of information…

diane - 16 September 2010

love you honey…and on a serious note …about that 1955 wiring….please ask someone you can trust to make sure any aging, heat dilipitaed insulations are tended to with loving and ancient care…the wiring was wonderful when installed ..maintenance must be everlasting ……

marisacat - 16 September 2010

oh it’s all ok: it was checked 20 years ago and again about 9 years ago

diane - 16 September 2010

glad to know that honey…sorry about pulling you onto FRONT STREET ……….in that regard …….

diane - 16 September 2010

and huge hugs out …apropos of …cuz that is very simply …how I have felt, ….and still feel, ….to ….oculus ….and Anne ….‘registered’ (not to necessarily clown ….but…….jes sayin)……at ….Talkleft

24. marisacat - 16 September 2010

I know it is at the point when I usually get a new post (thread) up… I just got a Safeway order delivered… so if this thread doesn’t go screwy (which sometimes they do)

Will leave it up for a few hours…

>^..^<

25. Madman in the Marketplace - 16 September 2010
marisacat - 16 September 2010

The second picture is utterly horrifying.. I saw smaller masses of thousands of fish, weeks ago.. but nothing like that second picture. Somebody has GOT to photograph a whale… and autopsy it… somehow.

Line up the Guillotines. Set the baskets for the heads in place……………

brinn - 16 September 2010

Saw that earlier this week and just had a huge Soylent Green/Make Room, Make Room moment — when we kill enough of the oceans, Gaia strikes back — she will survive, we will not.

brinn - 16 September 2010

Like Smith says in The Matrix, we are a virus.

Those pictures are just so sickening, in every sense of the word.

diane - 16 September 2010

I’d like to say I’d love to see the day that you admit that the majority of technicians and scientists of This Day,…were no better than the “RELIGIONISTS” were, …but …that would be hindsight.

you can’t resist attacking $Religiousity (dead fish which have nothing to do with anyone believing in a benevolent power)…yet fall dead silent as to elite individual white males (can we say Brin and Page here?), $technology, being proclaimed GODS?

brinn - 16 September 2010

What the hell are you talking about?

diane - 16 September 2010

…lest I remind, tons of SCIENTISTS ..hand in hand, with RELIGIONISTS, invented the toxins, killing the GULF.

brinn - 16 September 2010

Again, I simply must ask what you are talking about and who you are talking to?

Also, am I correct in interpreting what you wrote as calling me (“Brin”) an elite individual white male?

Please say I’m wrong!

diane - 16 September 2010

Was referring to the cofounder of Google, presumeably not you, which is why I didn’t spell it brinn …

brinn - 16 September 2010

Oh, good! I really did not get who the “you” was supposed to be and how it fit in to what was above it, or the fish kill, or anything, actually….

Thread too big, maybe?

*shrug*

all’s well, then.

marisacat - 16 September 2010

Oh Sergei.. are you hiding out here?
:lol:

diane - 16 September 2010

..and yet to be seen,….REALLY, …what all those WIFI waves will do/have done to us (just because we can’t see it, does not mean it isn’t there …any physicist worth their salt , will tell you that.)

the orbit around earth is so filled with WIFI, et al, junk … “we” are asceered to launch shit ….

the pendulum, swings so wildy …………………

marisacat - 16 September 2010

diane

I don’t htink anybody here worships any particular discipline… however the practitioners cloak themselves.

diane - 16 September 2010

oopsy

to clarify dead fish along with holy crap

and , well no,…that is actually not a stretch …about your anger over RELIGION ….

I don’t blame ya, but I’ve gotten very suspicious aboput your absence of commentary about our PALE MALE, TECHY GODS OF THE UNIVERSE?

26. marisacat - 16 September 2010

New

LINK

………………… 8) … :evil::roll:

27. Revisionist - 16 September 2010

there was no “reply” button above so this is in response to MCats taxi story from above.

I forget who it was but there is a story (or urban myth) about some big business titan. He was going to some meeting and he heard the elevator boy discussing his portfolio with a secretary. That was an AHA moment for our corporate kingpin and he got out of the market that day. It of course crashed soon after.

As far as the tech boom bust, I mean who couldnt have seen that coming. Like who in their right minds thought brokenwidgets.com was worth 6 billion dollars. so many of the IPOs were outlandindish. vaporware was the word de jour. Still to this day I dont know how Yahoo could be worth 4 billion.

i followed fuckedcompany religously at the time. i think it chronicles that entire period as nothing else did. i mean it was better brent easton ellis than brent easton ellis. funny that in todays connected twitter blog culture there really isnt a fuckedcompany. like posting an internal memo would get you branded a wikileaks troublemaker in violation of your employment contract.

marisacat - 16 September 2010

yeah it was an utterly looney time… The New Gold Rush, I called it. People just drunk on their own hype…

ts - 16 September 2010

I googled that topic, because I’d heard it too. So far, the finger points at the ol bootlegger Joe Kennedy, who said, “When the shoe-shine boy starts giving you stock tips, it’s time to get out.”

28. marisacat - 16 September 2010

New:

LINK


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