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Archive for May 12th, 2010

Fannie Mae Seeks Another $8 Billion

Posted in Main Blog (All Posts) on May 12th, 2010 4:53 am by HL

Fannie Mae Seeks Another $8 Billion
Fannie Mae, the largest U.S. residential mortgage funds provider, on Monday asked the government for an additional $8.4 billion after the company lost $13.1 billion in the first quarter. Fannie Mae will have received more than $84.6 billion from the government.


Feel free to draw broad analogies

Posted in Main Blog (All Posts) on May 12th, 2010 4:52 am by HL

Feel free to draw broad analogies
Primary elections give more mindless talking points to mindless pundits to dispatch easily to drone-like viewers. All hail Rupert.

Photo via News Corpse

Because you know the brave-hearted members of Congress and pundits will.

MORGANTOWN, W.Va. — Democrat Alan Mollohan became the first member of the U.S. House to be ousted this spring primary season, after his opponent mounted a campaign that questioned the 14-term congressman’s ethics and support for federal health care reform.

Yeah, that first part will be missed by the talking heads entirely. Meanwhile his opponent in the general dispatched two full-out teabaggers. So we know where Don Blankenship’s money will be going…to both.

Yes, this will be talked about, well the first part anyway — while this is ignored entirely:

Calling President Obama a “socialist” may not carry the punch some of his opponents had hoped for, given a new poll that found Americans are “not so negative” about the word and young people have essentially the same feelings about “socialism” as they do the word “capitalism.”

No word on how much Vaseline Glenn Beck had to put on his eyelids last night.

Late Late Night FDL: Black Water
The Doobie BrothersBlack Water, from Soundstage?, November 1977.

The Doobie BrothersBlack Water, from Soundstage?, November 1977.

What’s on your mind?


Verify, Baby, Verify!

Posted in Main Blog (All Posts) on May 12th, 2010 4:51 am by HL

Verify, Baby, Verify!
“Drill, baby, drill!” Those were the words that Sarah Palin used to electrify the 2008 Republican National Convention. But while she popularized that environment-be-damned slogan, it had already defined the eight years of oil-drilling policy that prevailed during the presidency of George W. Bush. 

Gulf oil spill

By Robert Scheer

“Drill, baby, drill!” Those were the words that Sarah Palin used to electrify the 2008 Republican National Convention. But while she popularized that environment-be-damned slogan, it had already defined the eight years of oil-drilling policy that prevailed during the presidency of George W. Bush.?


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Euro’s Crisis Has American Fingerprints
Self-admittedly profligate Greece did not invent the world crisis, nor did Portugal, Spain or Italy. The guilt lies with the United States. By William Pfaff

Self-admittedly profligate Greece did not invent the world crisis, nor did Portugal, Spain or Italy. The guilt lies with the United States.


Related Entries



Oil Spill Executives Used ‘Shaggy Defense’ During Capitol Hill Hearing, Says Chris Hayes (VIDEO)

Posted in Main Blog (All Posts) on May 12th, 2010 4:50 am by HL

Oil Spill Executives Used ‘Shaggy Defense’ During Capitol Hill Hearing, Says Chris Hayes (VIDEO)
Who’s to blame for the gushing oil well in the Gulf of Mexico? According to the executives of the companies involved, it’s the other guy….

Jason Carter, Jimmy Carter’s Grandson, Wins Georgia Race For State Senate
ATLANTA (AP) — Former President Jimmy Carter’s eldest grandson has easily won a seat in the Georgia state Senate. It makes him the first Carter…

Tom Graves, Lee Hawkins Win Georgia Special Election For U.S. House Seat: Runoff June 8
ATLANTA (AP) — A pair of former state legislators, including one backed by the tea party, will face off in a June 8 runoff for…

Chris Cox, Nixon Grandson, Tests Pedigree In NY House Race
SMITHTOWN, N.Y. — Richard Nixon’s grandson is joining the family business. Like the Kennedys, Carters, Cuomos and Bushes before him, 30-year-old Christopher Nixon Cox is…

Arizona Ethnic Studies Law Signed By Governor Brewer, Condemned By UN Human Rights Experts
PHOENIX — Arizona Gov. Jan Brewer signed a bill targeting a school district’s ethnic studies program on Tuesday, hours after a report by United Nations…


On Fox, Bossie falsely suggests Kagan supports book banning

Posted in Main Blog (All Posts) on May 12th, 2010 4:49 am by HL

On Fox, Bossie falsely suggests Kagan supports book banning

On Fox News, Citizens United president David Bossie falsely suggested that Solicitor General Elena Kagan argued in a Supreme Court case that “books could be banned.” In fact, Kagan specifically stated that federal campaign finance law had never banned books and likely could not do so.

From the May 10 edition of Your World with Neil Cavuto:

CAVUTO: Well, after all this, the president makes his pick. People already picking a fight. President Obama today nominating Solicitor General Elena Kagan for the Supreme Court. She battled my next guest in a case that became quite famous about campaign finance reform. She lost, and now he says she gets in, workers will be the ones to lose. David Bossie is president of Citizens United. This essentially boiled down, David, in your case to be about companies or causes or groups being able to spend whatever they want in political campaigns, the gist of it, right?

BOSSIE: Well, it was a about free speech, and it was a fundamental political speech, really the most protected of all speech by our Founding Fathers. Two hundred and twenty-five years of law, and she came out in oral arguments in our case before the Supreme Court and stated that books could be banned. And I am shocked by hearing that, and I’m surprised that Barack Obama chose her.

Kagan actually argued that federal campaign finance law likely could not ban books

The argument that campaign books paid for by corporate funds could be banned was made by a deputy solicitor general five days after Kagan was confirmed. Bossie’s group was the plaintiff in Citizens United v. FEC, a Supreme Court case dealing with the constitutionality of the Federal Elections Commission’s decision that Citizens United could not air a movie advocating against Hillary Clinton’s presidential candidacy if that movie was paid for by federal funds. On March 24, 2009 — five days after the Senate confirmed Kagan — the Supreme Court heard oral arguments in the case. Deputy Solicitor General Malcolm Stewart stated during the oral argument that, in addition to a movie, the federal government could “prohibit the publication of [a] book using the corporate treasury funds” if that book ended by saying “vote for X.”

When the case was reargued, Kagan specifically argued that federal law had never banned books and likely could not do so. In June 2009, the Supreme Court decided to postpone its decision in Citizens United, asked the litigants to brief additional issues, and ordered the lawyers to reargue the case in September 2009. Kagan argued on behalf of the federal government. She stated that if the government tried to ban books under campaign finance laws, “there would be quite good as-applied challenge” to the law, meaning that the corporation attempting to publish the book would have a good constitutional case that the book couldn’t be banned. Kagan later added: “[W]hat we’re saying is that there has never been an enforcement action for books. Nobody has ever suggested — nobody in Congress, nobody in the administrative apparatus has ever suggested that books pose any kind of corruption problem, so I think that there would be a good as-applied challenge with respect to that.”


VA Gov Taps Nixon’s ‘Jew Counter’ To Help Shrink State Gov’t

Posted in Main Blog (All Posts) on May 12th, 2010 4:48 am by HL

VA Gov Taps Nixon’s ‘Jew Counter’ To Help Shrink State Gov’t
Virginia Gov. Bob McDonnell (R) needed someone to reform his state’s government and shrink its budget. So who’s he turning to? Fred Malek: right-wing insider and former President Richard Nixon’s “Jew counter.” On Friday, McDonnell released a list of 31…


Richard NixonFred MalekGovernmentPresident of the United StatesUnited States

Florida Paid Rekers $120K For Anti-Gay Adoption Testimony
The other day, we told you that the state of Florida had paid George Rekers — the anti-gay activist recently caught with a male escort — at least $60,900 to testify against allowing gay couples to adopt children.



Scenes We’ll Never See: Dick Cheney’s Confessions

Posted in Main Blog (All Posts) on May 12th, 2010 4:43 am by HL

Scenes We’ll Never See: Dick Cheney’s Confessions


Too Close to Call in Pennsylvania

Posted in Main Blog (All Posts) on May 12th, 2010 4:42 am by HL

Too Close to Call in Pennsylvania
A new Quinnipiac poll in Pennsylvania shows Rep. Joe Sestak (D) continues to close the gap in the Democratic U.S. Senate primary and now trails Sen. Arlen Specter by just two points, 44% to 42%.

Another 14% of Democrats are undecided, and 29% of those who name a candidate say they might change their mind.

Just a month ago, Specter led by 21 points. Last week, Specter led by eight points.

Said pollster Peter Brown: “The intangibles are clearly on Sestak’s side. He has the momentum and the anti-incumbent wave sweeping the country is a good omen for the challenger. Troubling for Specter is that one in seven likely primary voters are undecided and incumbents — especially 30-year incumbents who have switched parties — rarely get much of the undecided vote.”

Other new polls:

The new Franklin & Marshall poll shows Sestak leading by two points among likely voters, 38% to 35%.

The latest Mullenberg/Morning Call tracking poll shows Specter and Sestak tied at 45% each.

First of Many Votes in Georgia
Tom Graves (R) and Lee Hawkins (R) are headed for a runoff next month in Georgia’s 9th congressional district to fill the set of former Rep. Nathan Deal (R-GA), the Atlanta Journal-Constitution reports.

The winner of next month’s runoff will finish Deal’s term, which ends in January, but the feeling of victory might be short-lived. There is a Republican primary for the seat in July as well.

“If there is a runoff after the July Republican primary, voters could be called to the polls in May, June, July, August and November.”

Carter Wins State Senate Race
Jason Carter (D) will follow in his grandfather President Jimmy Carter’s political footsteps by winning a state Senate seat in Georgia, the Atlanta Journal-Constitution reports.


Is Obama Serious About Ending the War on Drugs?

Posted in Main Blog (All Posts) on May 12th, 2010 4:41 am by HL

Is Obama Serious About Ending the War on Drugs?
Obama has promised to do away with the war on drugs. So far, policy is lagging.

Obama has promised to do away with the war on drugs. So far, policy is lagging.

Exposing the Secrets of the Temple: How the Federal Reserve Makes Money Out of Thin Air
Author Bill Greider argues that a more democratic money creation system could have saved the country from the brink of financial collapse.

Author Bill Greider argues that a more democratic money creation system could have saved the country from the brink of financial collapse.

Noam Chomsky: The U.S. Continues to Be a Terrorist State
Noam Chomsky discusses his forthcoming book, the hypocrisy of neoliberalism and where he feels hopeful about democracy despite U.S. terrorism.

Noam Chomsky discusses his forthcoming book, the hypocrisy of neoliberalism and where he feels hopeful about democracy despite U.S. terrorism.


Gates Takes on The Military Industrial Complex

Posted in Main Blog (All Posts) on May 12th, 2010 4:40 am by HL

Gates Takes on The Military Industrial Complex
Last Saturday, Secretary of Defense Bob Gates went out to the Eisenhower library to remind the nation that Ike’s warning about the “unwarranted influence of the Military Industrial Complex” was more prescient than ever. Cynics will argue that Gates is…

Wall Street: Land of the Million Dollar Babies
Wall Street is know around the world as the land of the million dollar babies since is chock full of people who have gotten incredibly rich as a result of handouts from the government. These handouts come in all forms,…


Wall StreetGovernmentGoldman SachsMorgan StanleyBusiness