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Archive for April 6th, 2009

Obama Wants a Nuke-Free World

Posted in Main Blog (All Posts) on April 6th, 2009 4:43 am by HL

Obama Wants a Nuke-Free World

The U.S. led a round of chest-thumping following North Korea’s alleged missile test Sunday, but President Obama also acknowledged that the United States is the only country to have used nuclear weapons against others and, as such, has a “moral responsibility” to lead the world toward a nuclear stockpile of zero.

AP via PoliticalWire:

But he said his own country, with its huge arsenal and its history using two atomic bombs against Japan in 1945, had to lead the world. He said the U.S. has a “moral responsibility” to start taking steps now.

“To reduce our warheads and stockpiles, we will negotiate a new Strategic Arms Reduction Treaty with the Russians this year,” he promised.

The nuclear-free cause is more potent in Europe than in the United States, where even Democratic politicians such as Obama must avoid being labeled as soft or naive if they endorse it. Still, Obama said he would resubmit a proposed Comprehensive Test Ban Treaty to the Senate for ratification. The pact was signed by President Bill Clinton but rejected by the Senate in 1999.

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Michael Conniff: CON GAMES: Real Bonus Babies in Defense Budget

Posted in Main Blog (All Posts) on April 6th, 2009 4:42 am by HL

Michael Conniff: CON GAMES: Real Bonus Babies in Defense Budget
Earmarks and entitlements are chickenfeed compared to defense spending, but to conservatives the Defense Department has always been sacrosanct.

Nathan Gardels: Obama in Istanbul: Test for the West
The new Obama administration has assigned such pivotal importance to Turkey because it is the great experiment in the world today of both non-Western and post-secular modernity.

Danielle Cavallucci: Sexting the Way to Fairer Regard for the Feminine Form
Since when did the female form become so objectified that the notion of viewing it in a bra became pornographic?


Another Fox graphic falsely suggests Pay for Performance Bill applies to all employees

Posted in Main Blog (All Posts) on April 6th, 2009 4:41 am by HL

Another Fox graphic falsely suggests Pay for Performance Bill applies to all employees

During an April 4 discussion of the House’s passage of H.R. 1664, the Pay for Performance Act, Fox Business Network’s Cavuto on Business featured on-screen text that read: ” ‘Pay-For-Performance’ Bill: Gov’t dictating how much you’ll make?” In fact, the bill would not regulate pay for all workers but rather would regulate compensation only for employees of financial institutions that have received federal assistance — a fact acknowledged by Cavuto and his guests during the segment. Moreover, the bill regulates pay for those institutions only during the period in which the public investment in them remains outstanding, and even then, it does not apply to institutions that have agreed to a schedule for the institution to repay the entire government investment, unless the company defaults on that plan.

As Media Matters for America documented, the March 31 edition of Fox News’ Fox & Friends aired on-screen text that falsely claimed of the Pay for Performance Act: “Bill lets government set your salary.”

From the text of H.R. 1664, as passed by the House:

“(1) PROHIBITION. — No financial institution that has received or receives a direct capital investment under the Troubled Assets Relief Program under this title, or with respect to the Federal National Mortgage Association, the Federal Home Loan Mortgage Corporation, or a Federal home loan bank, under the amendments made by section 1117 of the Housing and Economic Recovery Act of 2008, may, while that capital investment remains outstanding, make a compensation payment, other than a longevity bonus or a payment in the form of restricted stock, to any executive or employee under any existing compensation arrangement, or enter into a new compensation payment arrangement, if such compensation payment or compensation payment arrangement —

“(A) provides for compensation that is unreasonable or excessive, as defined in standards established by the Secretary, in consultation with the Chairperson of the Congressional Oversight Panel established under section 125, in accordance with paragraph (2); or

“(B) includes any bonus or other supplemental payment, whether payable before employment, during employment, or after termination of employment, that is not directly based on performance-based measures set forth in standards established by the Secretary in accordance with paragraph (2).

An institution shall not become subject to the requirements of this paragraph as a result of doing business with a recipient of a direct capital investment under the TARP or under the amendments made by the Housing and Economic Recovery Act of 2008.

[…]

“(4) CONDITIONAL EXEMPTION. —

“(A) REPAYMENT AGREEMENT. — Paragraph (1) shall not apply to a financial institution that has entered into a comprehensive agreement with the Secretary to repay the United States, in accordance with a schedule and terms established by the Secretary, all outstanding amounts of any direct capital investment or investments received by such institution under this title.

‘(B) DEFAULT. — If the Secretary determines that an institution that has entered into an agreement as provided for in subparagraph (A) has defaulted on such agreement, the Secretary shall require that any compensation payments made by such institution that would have been subject to paragraph (1) if the institution had not entered into such an agreement be surrendered to the Treasury.

Cavuto began the segment by saying to former General Electric CEO Jack Welch, “Jack, to this issue where Congress is hell-bent on dictating pay for everybody.” Welch responded, “Well, for those who have received money from the — ” Cavuto interjected, “For now.” Welch replied, “For now.” Fox News business correspondent Dagen McDowell also acknowledged that the bill would only affect pay at institutions that have received federal assistance, while suggesting it may result in a “slippery slope.” McDowell stated: “I thought, ‘Oh, you know, it’s to be expected that the government is going to try and control the pay of people — of companies that took taxpayer money.’ But you have to wonder if that slope doesn’t become so slippery, they start going after companies that do a lot of business with the government, like the defense industry.”

From the April 4 edition of Fox Business Network’s Cavuto on Business (which subsequently re-aired on both Fox Business Network and Fox News):

CAVUTO: Jack, to this issue where Congress is hell-bent on dictating pay for everybody.

WELCH: Well, for those who have received money from the —

CAVUTO: For now.

WELCH: For now. And that’s where they’ve gone, Neil. And the idea is insane. I mean, I’m an owner of this business, and the way they talk about the fact that these people can’t go anywhere. They can go to foreign banks, they can go to hedge funds, they can go all kinds of places. I want my investment to have a return on it. And the idea that they’re restricting the best players from dealing with my investment frustrates the hell out of me.

CAVUTO: Ben Stein, what’s going on here, though, is bigger than just the big guys who might have brought on this calamity. By extending this to policing the pay of everyone at the company, you are opening a lot of doors, aren’t you?

STEIN (conservative commentator and actor): Yeah, we have a big problem here. I mean, the problem was brought on by excessive pay on Wall Street and in many corporate executive suites. There’s no doubt about it. They were begging for trouble because of the way they’ve been paying themselves and looting the stockholders for years. But the idea that government — which is, again, not some genius; it’s not Albert Einstein, it’s somebody at the Department of Motor Vehicles wearing a different jacket — is going to be capable of regulating pay is nonsense. This is a bill that essentially legitimizes envy and puts a law around envy and says that it’s a public service.

CAVUTO: Can you imagine when Ben has to renew his license, how that’s gonna go? Dagen, I guess what I found most offensive with the congressman and those who ultimately supported this is they’re saying, “We will police objectionable pay right down to secretaries and assistants, but we won’t tell you what objectionable is. We’ll leave that in the hands of Treasury, political appointees all, who will ultimately decide on things that we’re not fine-tuning right now.” So they are going to write a number on a blank check backed by our money. That’s the slippery slope I’m talking about.

McDOWELL: It’s a slippery slope of that and also what Jack was pointing out, is not treating these investments like we’re investments. They’re not thinking about these companies as businesses that we want to get our money back from. Instead, they’re just trying to hit all the people in terms of their pay. And I’m dead wrong about this. I thought, “Oh, you know, it’s to be expected that the government is going to try and control the pay of people — of companies that took taxpayer money.” But you have to wonder if that slope doesn’t become so slippery, they start going after companies that do a lot of business with the government, like the defense industry. If we let this keep happening, that’s what will happen.

CAVUTO: Charles, I recently I spoke to — I consider him a modern-day philosopher — Don Imus on this very subject, a New York radio icon, who said, “Well, what’s wrong here? We’ve given, you know, 180, $200 billion to, let’s say, AIG. It’s our money. We can decide how it’s spent at the company.” What do you think of that?


Secretary Geithner on “Face the Nation”

Posted in Main Blog (All Posts) on April 6th, 2009 4:40 am by HL

Secretary Geithner on “Face the Nation”
SCHIEFFER: Good morning again. And joining us in the studio, the Treasury Secretary Tim Geithner. GEITHNER: Thank you, Bob. SCHIEFFER: Mr. Secretary, glad to have you with us. I guess last week you could kind of call it the best of times and the worst of times. The stock market performance overall the best since, what, 1933 maybe. But unemployment reached 8.5 percent, and that’s the worst in what, 25 years I guess. The administration began the year forecasting that unemployment might go to 8.9 by the end of the year. We’re already at 8.5. Does this mean you’re going to have to ask Congress for another stimulus?


Feds: Blago And Cronies Were Scheming To Make Money From The Start

Posted in Main Blog (All Posts) on April 6th, 2009 4:39 am by HL

Feds: Blago And Cronies Were Scheming To Make Money From The Start
Here are the major new allegations contained in the indictment of Rod Blagojevich, his brother Robert Blagojevich, and four associates (from a very detailed DOJ press release (pdf)): [B]eginning in 2002 and continuing after Blagojevich was first elected governor, Blagojevich…

Greenberg: Get Rid Of AIG Management
More nuggets of news from Hank Greenberg’s testimony before Congress…. Greenberg, with the prominent Washington lawyer David Boies at his side, declared that government efforts to rescue AIG — taxpayers now own almost 80 percent of the insurance giant –…

Feds: Blago Tried To Shake Down Rahm
One of the more interesting new details in the Blagojevich indictment was the allegation that the former Illinois governor held up the state funds for a publicly supported school, in an effort to pressure an unnamed congressman who supported the…


The Tattlesnake – Rushing to the Bottom-Feeders Edition

Posted in Main Blog (All Posts) on April 6th, 2009 4:35 am by HL

The Tattlesnake – Rushing to the Bottom-Feeders Edition
Who Else is There Left for Limbaugh to Influence? Rush Limbaugh is a phenomenon of the ’80s and ’90s when he still retained some ability to shock, and the entire regressive Republican agenda he insistently trumpeted daily, which fundamentally amounted to electing Republicans to throw money at the rich and permitting corporations and Wall Street to […]


Axing CEOS Is Entertaining, But It Doesn’t Solve Our Economic Crisis

Posted in Main Blog (All Posts) on April 6th, 2009 4:34 am by HL

Axing CEOS Is Entertaining, But It Doesn’t Solve Our Economic Crisis
Obama fired GM CEO Rick Wagoner as symbolic concession to public rage. Let’s see some major economic reforms.

Why You Should Get More Sleep
Our commenters discuss a recent article on the negative effects of sleep deprivation.

How Can We Stop the Epidemic of Killing Women and Children By Returning Soldiers
No society that sends its men abroad for war can expect them to come home and be at peace, as returning Iraqi vets are proving in alarming numbers.

Moyers Journal: Maddoff Was A Piker — America’s Big Banks Are a Far Larger Fraudulent Ponzi Scheme
One of America’s top bank fraud experts explains the financial industry’s "liar’s loans" and wholesale greed that got us in this mess.


Bibi to Iran and Obama: “Drop Dead”

Posted in Main Blog (All Posts) on April 6th, 2009 4:33 am by HL

Bibi to Iran and Obama: “Drop Dead”
Go over to my Israel Policy Forum home to see what I mean by that fanciful headline. No, Netanyahu did not say that in so many words. But his meaning (in an interview with Jeff Goldberg) is pretty clear. He…

Larry Summers Locked Out
The news that Larry Summers was paid more than $5 Million by the hedge fund D.E. Shaw in the year before he joined the Obama Administration is not that surprising. What is good news is that he will be barred…


Hannity: Obama ?Harbors Deep Resentment? Of America, Just Like Dixie Chicks

Posted in Main Blog (All Posts) on April 6th, 2009 4:32 am by HL

Hannity: Obama ?Harbors Deep Resentment? Of America, Just Like Dixie Chicks
On Friday, President Obama told a town hall audience in Strasbourg, France, that America’s tendency to dismiss Europe — as well as Europe’s tendency to blame America for every problem — had to end. “On both sides of the Atlantic, these attitudes have become all too common. They are not wise. They do not represent […]

On Friday, President Obama told a town hall audience in Strasbourg, France, that America’s tendency to dismiss Europe — as well as Europe’s tendency to blame America for every problem — had to end. “On both sides of the Atlantic, these attitudes have become all too common. They are not wise. They do not represent the truth,” Obama said.

That evening, Fox News’s Sean Hannity truncated Obama’s speech, cutting out Obama’s criticism of Europe’s anti-Americanism. Hannity was apoplectic that Obama would “blame America first,” declaring the president was just like the Dixie Chicks. What’s more, he insisted, the speech was proof of Obama’s “deep resentment” of America:

HANNITY: You know, I’m going to — I resent this. When you consider…all we have done just in the last century alone to save Europe from themselves. I resent this. I think it’s outrageous, the media’s ignored it. But don’t you think this is like the Dixie Chicks? […]

HANNITY: But didn’t we see all of this in the campaign? As I was bringing up — didn’t Reverend Wright give us a little insight into his thought process? Didn’t, you know, Michelle Obama, America is a downright mean country. … But I’m thinking, didn’t we get some insight? When you sit on a board and give speeches with Bill Ayers, didn’t this — Do you think he harbors deep resentment that he just hides? Because I believe he does.

Watch it:

In 2003, the Dixie Chicks caused a firestorm when they told a London audience that they did not support the Iraq war and that they were “ashamed” George Bush was from Texas, like them. At the time, Hannity was outraged, slamming them for going to “foreign soil” and “taking a shot not only at the president, at their country as well.”

As a consequence of global warming, Antarctic ice shelf on the brink of breaking up.
An ice bridge linking a shelf of ice to two islands in Antarctica has shattered “and may herald a wider collapse caused by global warming.” Scientists say the collapse could mean the Wilkins Ice Shelf — which is about the size of Connecticut — is on the brink of breaking up. It would be the […]

ice.jpgAn ice bridge linking a shelf of ice to two islands in Antarctica has shattered “and may herald a wider collapse caused by global warming.” Scientists say the collapse could mean the Wilkins Ice Shelf — which is about the size of Connecticut — is on the brink of breaking up. It would be the largest slab of ice so far to disintegrate and retreat in the Antarctic. “The rapid retreat of glaciers there demonstrates once again the profound effects our planet is already experiencing — more rapidly than previously known — as a consequence of climate change,” Interior Secretary Ken Salazar said in a statement. An international meeting of Antarctic and Arctic scientists will report in Baltimore tomorrow that “up to one-third of all Antarctic sea ice is likely to melt by the end of the century, seriously contributing to dangerous sea level rises.”


U.N. Security Council Fails to Agree on N. Korea Statement

Posted in Main Blog (All Posts) on April 6th, 2009 4:31 am by HL

U.N. Security Council Fails to Agree on N. Korea Statement
UNITED NATIONS, April 5 — The U.N. Security Council meeting in an emergency session failed Sunday to reach agreement on a statement criticizing North Korea’s rocket launch, as China and Russia said they were not convinced that Pyongyang had violated any U.N. rules by trying to send a satellite …


After 30 years, Cynthia Bascetta of the Government Accountability Office was set to retire to her home in Fredericksburg, but then New Orleans called her name.

Judge Orders Justice Department to Hand Over Documents in Stevens Case
A federal judge yesterday ordered the Justice Department to give him documents concerning allegations of misconduct by the team that prosecuted former senator Ted Stevens (R-Alaska) on corruption charges.

After Launch, Obama Focuses On Disarmament
ANKARA, Turkey, April 6 — President Obama arrived in Turkey on Sunday night as global condemnation of North Korea gave way to intense diplomatic debate about how to punish the rogue nation for the brazen weekend launch of a rocket over Japan and into the Pacific Ocean.

Americans Support Goal of Improved Relations With Muslim World
Most Americans think President Obama’s pledge to “seek a new way forward” with the Muslim world is an important goal, even as nearly half hold negative views about Islam and a sizable number say that even mainstream adherents to the religion encourage violence against non-Muslims, according to a new…