As it turned out, Carmageddon was light on both the car and the “mageddon.” The 405 Freeway even reopened early. That’s what happens when federal, state and local government works together to solve a problem! For me, it was just another Southern California weekend. For the rest of the world…
• What of the Ninth Circuit’s response to the emergency request from the Justice Department to lift that stay on the military’s Don’t Ask Don’t Tell policy? They allowed the stay, but also barred the DoD from “investigating, penalizing, or discharging anyone from the military pursuant to the Don’t Ask, Don’t Tell policy,” while the case plays out. So that’s effectively maintaining the stay, I’d say. On a related note, this is a brave op-ed from the commander of an infantry company.
• Revealing comments from Jamie Dimon, where he says that the flaws in mortgage products are an “unmitigated disaster” and that everybody is going to sue everybody else, so the solution is to “clean it up for the sake of everybody.” Particularly the people who would have their due process rights snuffed out in the process.
• Meawhile, California may join the investigation by New York and Delaware into securitization problems. That would mean that states with almost 20% of the country’s population would be rejecting any settlement on foreclosure fraud, and that’s not counting the conservative AGs who will reject it on the grounds that they would rather do nothing.
• It’s still very unclear where Medicaid sits in the debt limit talks. But despite that mystery, we do know that states are likely to be screwed.
• News Corp. update: Rebekah Brooks was arrested today and put under several hours of questioning; the head of the Metropolitan Police in London has resigned for being on the take from News of the World; and David Cameron comes under increasing pressure for his ties to News Corp. executives. Nearly every institution in Britain is being touched by this scandal, and there are indications it will spread to this country as well.
• This is a good article by Mark Schmitt on Democrats’ failure to use synecdoche. The real reason it fails is that Democrats inevitably seem more concerned with making the pithy faux-populism catch-phrase than actually dismantling rampant inequality or tax policies that favor the rich.
• Case in point: this Wall Street lobbyist now effectively running the implementation of Dodd-Frank, which, yes, is being whittled down to nothing.
• How rejecting a bigger stimulus over concerns about the deficit made the deficit worse.
• David Leonhardt claims that the bursting of the consumer bubble is an explanation for the slow recovery. He hasn’t been to rooftop bars in LA. People will still spend money, gladly – if they have it. The lack of consumer spending seems more like an effect than a cause.
• Just a week after Hamid Karzai’s half-brother was killed, now a senior adviser to Karzai and an MP have been murdered by the Taliban.
• The opposition quit reconciliation talks in Bahrain, talks that were praised by the Obama Administration. The opposition group al-Wifaq called the talks “not serious.”
• More in the Middle East: Showing that dissent can work, the Egyptian Prime Minister just reshuffled its cabinet, including a resignation from the foreign minister and a new finance minister; Yemen’s protesters inaugurated a shadow government; Free Libya forces make a run at the oil city of Brega.
• Digby on the arguments made to deprive people of their Social Security benefits.
• I’m amazed by how little attention, even in this state, has been paid to the inmate hunger strike at the Pelican Bay state prison in California.
• Speaking of the News Corp. scandal, Piers Morgan needs to answer some questions rather than asking them.
• The new Treasurer of the World Bank was the Chief Risk Officer for Lehman Brothers.
• This blogger makes the case that HAMP’s Net Present Value test was designed to fail underwater borrowers in the hardest-hit states.
• GM is investing in Flint again; I smell another Roger & Me sequel!
• I’m intrigued with at least trying Spotify.




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Interesting collection of the numbers of private security and police officer personnel by country. The numbers are standardized. Although the private security and police officer personnel are not combined, you can add them quickly, then divide by the population to standardize. It’s quite telling.
LINK.
BTW, Berlusconi seems to overwhelmingly prefer police officer personnel.
Oh, and speaking of Berlusconi, his trial (bribery, sex crime, whatever) starts tomorrow.
From Amy Goodman and Denis Moynihan
The questions hanging over Murdoch, USA
The spreading contagion may show up the cracks in News Corp’s vast American media holdings
“The contagion affecting News Corp has spread rapidly in the US. The FBI is investigating potential criminal hacking of the voicemails of victims of the 9/11 attacks. Lawmakers and grassroots groups are also calling for an investigation into whether the bribing of police was a violation of the Foreign Corrupt Practices Act. As News Corp is a US corporation, registered in the business-friendly state of Delaware,even bribery abroad could lead to felony charges in the US.
“One likely consequence would be what Corporate Crime Reporter’s Russell Mokhiber calls “a wishy-washy non-prosecution settlement” wherein News Corp would admit to the crime without being convicted, and pay a financial settlement. Mokhiber noted that, in a 2008 FCPA case against Siemens for widespread bribery, Siemens paid $800m but avoided a criminal conviction that would have jeopardised its standing as a US defence contractor.
“As for the alleged phone hacking of 9/11 victims, if News of the World employees did engage in illegal attempts to access voicemails, and the FBI investigation can ferret out sufficient proof to seek indictments, then the most likely outcome would be extradition requests against the alleged offenders, which could drag on for years.”
LINK.
Duh — The bars were full because the 405 was closed.
Myself, I favor the Skybar at the Mondrian West Hollywood on Sunset Boulevard in West Hollywood.
Recession? What recession? Party on with couture-clad celebs.
Social Security
May 13, 2011
The Social Security Board of Trustees today released its annual report on the financial health of the Social Security Trust Funds. The combined assets of the Old-Age and Survivors Insurance, and Disability Insurance (OASDI) Trust Funds will be exhausted in 2036, one year sooner than projected last year. The DI Trust Fund, while unchanged from last year, will be exhausted in 2018 and legislative action will be needed soon. At a minimum, a reallocation of the payroll tax rate between OASI and DI would be necessary, as was done in 1994. The Trustees also project that OASDI program costs will exceed non-interest income in 2011 and will remain higher throughout the remainder of the 75-year period.
In the 2011 Annual Report to Congress, the Trustees announced:
The projected point at which the combined Trust Funds will be exhausted comes in 2036 — one year sooner than projected last year. At that time, there will be sufficient non-interest income coming in to pay about 77 percent of scheduled benefits.
The point at which non-interest income fell below program costs was 2010. Program costs are projected to exceed non-interest income throughout the remainder of the 75-year period.
The projected actuarial deficit over the 75-year long-range period is 2.22 percent of taxable payroll — 0.30 percentage point larger than in last year’s report.
Over the 75-year period, the Trust Funds would require additional revenue equivalent to $6.5 trillion in present value dollars to pay all scheduled benefits.
[That's $86 billion annually in PV dollars, or about ten percent of the bloated Pentagon corporate welfare budget]
Obviously we can’t afford $86 billion annually. That’s ridiculous.
/s
Don’t forget the role of the citizenry in a successful Carmageddon, David. You can mobilize people to do get things done. Imagine that!
Those are interesting numbers fatster. I wish I knew what to make of them.
anyone who can use the word synecdoche gets my attention, admiration, and/or vote…..Thanks
The DOJ’s Idiotic Request for More Time to End DADT
On July 6, a United States Court of Appeals issued an order the effect of which was to immediately bar the enforcement of the military’s “Don’t Ask, Don’t Tell” policy anywhere on the planet. In other words, any attempt to dismiss a member of the Armed Forces for being openly gay would be, as of this moment, contempt of court.
Yet, Eric Holder’s Department of Justice, which seems to be coming more and more unglued (its renewed fascination with medicinal marijuana seems better suited to Bush’s Regent-educated Jesus freaks than Obama’s supposedly depoliticized professionals), asked the court to reconsider the imposition of an immediate injunction so the Pentagon would have more time to implement the repeal of DADT that President Obama recently signed into law …
Article:
The DOJ’s Idiotic Request for More Time to End DADT
That was a brave op-ed from a serving officer in a front line combat unit, but it still doesn’t make his remarks correct. Though homophobia may be currently entrenched in the culture of front line units, that is no excuse for the military to not be able to change it. Racism was just as entrenched a cultural phenomenon before Truman integrated the services in 1948, and by Vietnam it was a memory. This is not to blithely say that NCO’s will have to invent new and better swear words for the troops’ consumption, and no doubt there will be incidents of homophobic backlash. But the fact of the matter is that that full equality is the morally correct position, and if it takes leadership to implement it, then the brass need to get off their ass and start leading.
Contrast the US numbers with those of, say, Finland. Quite a difference, huh? Now, contrast both Finland and the US with, say, Bulgaria. Brrrrrrr.
The number of people in armies are not included, but can be gotten elsewhere. Of course, most countries in the world have stay-at-home armies, keeping the country’s population “safe”– whether protected from armies from other countries or protected from themselves, if you know what I mean.
Not only did I have to look up “synecdoche,” I had to look up online how to pronounce it.
See my #13. I have a pretty big vocabulary and I had never heard the word.
It is a really great word…there is a similar one, metonomy, I think. Quite a mouthful.