The Roundup

Got caught up with Brent Wilkes of LULAC, who still may be in the comments of that thread if you want to click over. Big thanks to him. As for the rest of the day’s news:

• Bill Halter and Blanche Lincoln held their final debate before the election today. The Arkansas Times says Halter won, mainly by pummeling Lincoln on her ties to big business and her support of cutting the estate tax. Halter’s closing ad continues on that theme.

• Friends of the Earth pans the Kerry-Lieberman climate bill, calling it a “step backward,” but Eric de Place generally gives it better marks and could support it. His is a pretty substantive review.

• I’d call that new Time Magazine cover “The Committee To Save The World From Itself.” Elizabeth Warren, who with the SEC’s Mary Schapiro and the FDIC’s Sheila Bair graces the cover, just put out her latest Congressional Oversight Panel report. And it tears the Administration apart on their small business lending efforts, saying “it is not clear that [TARP has] had any significant impact on small business lending.”

• Not so fast on that carried interest change (forcing investment managers and some others to treat their income as income for tax purposes) expected in the upcoming tax extenders bill – some of the Senate’s slaves to the wealthy are banding together to block it. US PIRG is mounting a last-ditch effort to save it.

• Here’s a section for great posts written by my FDL colleagues: Jon Walker on the great float grab; Marcy Wheeler on Elena Kagan’s nomination and Maher Arar; Marcy, again, on the latest black site from the Defense Department, using Marc Ambinder’s insider take at length.

• Maybe the House of Representatives won’t pass a budget this year because they don’t have the votes. I don’t usually pay much attention to what John Boehner says, but given the skittishness headed into the midterms I think that’s plausible.

• The FinReg bill is so expansive that even previously unremarked-upon parts are subject to fierce lobbying. For instance, the corporate governance rules have prompted a sharp reaction from a lot of CEOs. In particular, they don’t want to empower shareholders to nominate members of the board of directors.

• California Governor Arnold Schwarzenegger put out his “May revise” budget for the next fiscal year. It’s just as bad as you’d expect, with $19 billion in cuts. It protects the rich and multinational corporations at the expense of the elderly and the poor.

• Could supertankers actually clean up much of the oil spill in the Gulf, but BP won’t use them because they don’t want to re-route them from delivering oil?

• Steve Poizner continues to hammer Meg Whitman. I think this ad is hysterical, playing off an earlier controversy in the campaign about Whitman not having voted for the bulk of her adult life. Whoever does Poizner’s ads is really good.

• Never let it be said that nobody at the big banks has been held accountable for their actions during the financial crisis. For example, internal whistleblowers and investigators were sacked by their companies for telling the truth about mortgage fraud and other illicit activities.

• All these austerity cuts in Europe aren’t exactly pleasing investors. The stock market was way down today, and the euro dipped to 18-month lows. Calculated Risk worries about global contagion and slower growth in the US as a result.

• This isn’t just shooting yourself in the foot, it’s like a four-state killing spree of podiatrists for BP CEO Tony Hayward: “The Gulf of Mexico is a very big ocean. The amount of volume of oil and dispersant we are putting into it is tiny in relation to the total water volume.”

• Bill Clinton still defends Goldman Sachs. His pal Robert Rubin came from there, after all.

• Get ready for the cartoon villain CEO of Massey Energy, Don Blankenship, testifying before Congress next week.

• I’m going to go out on a limb and say that a chief executive authorizing the assassination of an American citizen is deplorable and frightening and a much bigger story than people have made it.

• Ben Bernanke shows he’s a “man of the people” by touring the Tastykake factory in Philly. So what, I did that too in 3rd grade. Does he know the secret to keeping the icing on a Butterscotch Krimpet?

• Some days, it’s like the GOP is toying with the Democrats. Couldn’t the majority party in a majoritarian institution get rid of things like the motion to recommit? Although, they should allow for somewhat more open rules and debate on the floor.

• Facebook has launched a new security feature after everyone on Facebook asked if they were crazy for making public all their personal information online. I’m basically done with that site.

• Finally, great mash-up found by Jason Linkins:

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