Better late than never! This should be a super-sized roundup.
• I haven’t said one word about #occupywallstreet, which I hope will only grow over time, as long as the NYPD doesn’t find any more 19th-century mask laws to break up the protest. Kevin Gosztola at The Dissenter has provided live coverage. Keep in mind that the reason activists are occupying Wall Street is simple: that’s where the blame should be.
• The SEC has widened its insider trading probe to see if anyone illegally profited off the news that S&P would downgrade US debt. Hopefully this goes better than their awful Deutsche Bank investigation.
• Sanaa, Yemen is a war zone once more, with scores of deaths, sniper fire, and the distinct possibility of civil war, as political talks break down. Soldiers who have defected to join the anti-government side are part of this uprising.
• The veto threat must be contagious, as the White House offered another one over House legislation attacking the EPA. The more cynical would say that the White House has done a good job, with the ozone standards delay, of attacking the EPA all by themselves.
• This story on the underground economy is a lesson in how people get by during economic disaster: with every idea they can think of. On a related note, the squeegee men are back in New York City.
• Hoarding cash is something you do if you think your investment will inevitably not be worth it. It’s what you do in a time of inadequate demand.
• This scenario won’t happen, but just slower growth and more unemployment will increase debt to the point where the debt limit could come into play again before Election Day.
• Some postscripts from the end of Don’t Ask Don’t Tell: a Navy officer legally married his male partner in Vermont moments after the policy was repealed; a soldier stationed in Germany came out to his father on YouTube.
• The former President of Afghanistan and a peace council leader was killed in an attack on his home today.
• The chic thing to do on the right is to back up Rick Perry on his belief that Social Security is a Ponzi scheme. Michael Hiltzik breaks that precedent, sets everyone straight.
• Speaking of Perry, the Justice Department argued yesterday that his state’s redistricting map violates the Voting Rights Act.
• As Italy suffers a credit downgrade (maybe they should get eight downgrades at a time), the bigger Europe issue is Siemens taking all their money out of a French bank, a kind of corporate bank run.
• The $400,000 Rep. John Fleming has left over after feeding his family would pay for almost 400 workers.
• I don’t get why the UBS “rogue trader” would make fake hedge trades, but if this whole thing renews the push for a Glass-Steagall-like wall of separation between commercial and investment banking, all the better.
• The Georgia State Board of Pardon and Paroles denied clemency for Troy Davis, and incredibly, he could be killed by the state tomorrow.
• The NYT covers the Pennsylvania effort to gerrymander the Presidential election. This is a kind of nuclear option, a trigger that Republicans may not want to pull.
• I for one welcome our robot killing machines.
• What a group of political hacks the California Democratic Party leadership is. The incompetence on display as they ignored warning after warning about Kinde Durkee, the corrupt embezzler who ran 400 campaign accounts in the state, is incredible. A lot of charities and non-profits are out of luck now, too. And the bank is sending all of the money over to the court to be settled, which means that candidates and clubs might not be able to access their funds for months, if not years.
• Ten million more defaults on mortgages sounds a little high, but it’s entirely possible.
• Amazon warehouses sound about as nice a place to work as Ikea warehouses.
• More important than the President’s welcome to the head of the Libyan Transitional National Council is the formal recognition by the African Union.
• Is it better that Dominique Strauss-Kahn’s alibi is that he misread a signal that a maid cleaning up his hotel room wanted to immediately have sex with him?
• “Of course this is a war on birth control!”
• I’m not much for predictions, and the easy one of these two is that Linda McMahon will not be a US Senator. But the more out-on-a-limb one is that Tommy Thompson won’t even make it through the Republican primary in Wisconsin. “Obamacare,” which he endorsed in print, will dog him. I don’t think the Tea Partier challenging John Boehner in a primary is going very far either.
• The latest threat to stop defense cuts – say there will be a draft if they are approved, which makes almost no sense.
• A DNC member has filed a resolution to stop the Keystone XL tar sands pipeline.
• We’re number 25 in Internet speed! U-S-A!
• This is the office of a pharmaceutical company in China. Wow.
• For the record, I signed up with Qwikster, because I didn’t find myself streaming very much, and I want access to movies that the streaming service wouldn’t have. It wasn’t a hard choice for me. They just better not phase out the DVD-by-mail process.
• An excellent counter-intuitive take on Jon Stewart from Tom Junod. If you’d had a nagging feeling about Stewart that you can’t get out of your head, this is the story for you.
• It was Constitution Day over the weekend. The holiday is unconstitutional.
• Alec Baldwin wasn’t the President of television on the Emmys skit because Fox censored his phone hacking joke.
• Seventy-two bags of cocaine in his body.




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AP x BP x 2:
AP: BP oil not degrading on Gulf floor, study says
AP: Top Interior official heads to firm working for BP
As for the story in the Morning Call about the conditions in Amazon’s Allentown warehouse, how do people think that Amazon.com can offer merchandise as cheaply as they do? Amazon.com is simply the online version of Walmart. Jeff Bezos is Sam Walton with better PR.
Narrowing down the life savers:
Why the BRICS won’t ‘save’ Europe
“The basic (Brazilian) idea is for BRICS financial muscle to buy
some extra European sovereign debt. But only “solid” bonds – from Germany or the United Kingdom – would qualify. The rationale is that BRICS will win by diversifying reserves – China at $3.2 trillion, Brazil at over $350 billion, India at over $320 billion – and make more money than investing in US Treasury bonds.”
More from Colombia–it just doesn’t stop.
Colombian intelligence agency’s latest scandal: leaking docs to drug lord
“The DAS, Colombia’s scandal-ridden intelligence service, is alleged to have provided intelligence – including identities of undercover agents – to one of the region’s most wanted drug lords.”
The old Washington revolving door just doesn’t stop, either.
Top Interior official heads to firm working for BP
“The former chief of staff to Interior Secretary Ken Salazar has taken a job with one of the law firms representing BP in legal proceedings stemming from the massive Gulf oil spill last year.
. . .
“A managing partner for his new firm, WilmerHale, said Strickland would have no role in the firm’s work for BP in connection with April 2010 oil spill. ”
*wink – wink* *nudge – nudge*
I was kind of down about my root canal, but this cheered me right up:
“Turkey is trying a new approach in curbing crowd violence at soccer games — kick out all the men but let women and children attend for free.”
LINK.
“the bigger Europe issue is Siemens taking all their money out of a French bank, a kind of corporate bank run.”; “In an interview last December, Roland Châlons-Browne, chief executive of Siemens’ financial services unit, said its banking business would enable the group to tap the central bank for liquidity and deposit cash at the ECB. “; soumds like the Goldman Sachs strategy re the Fed.
Does law enforcement get consent to do those 3-D cat scans on drug suspects? Seems pretty invasive to me.
Reminds of all that nonsense Keynes wrote about the ‘liquidity trap.’ I read about how wrong it is in WSJ. The Englishman really didn’t know what he was talking about.
“THe more cynical would say that the White House has done a good job of attacking the EPA, all by itself.”
How about “the more HONEST…”.
There. Fixed it for you. :o)
Whatever…as usual, Obama’s playing defense, and also as usual, not playing it very well.
Sort of OT but sort of about OccupyWallStreet — anybody besides me and my pals getting censored by Yahoo-ey if one references “Occu-pie” or “Occupy Wall Street”?
Panetta is threatening U.S. invasion of Pakistan. Oh joy.
On the basis what pretext, eCAHN?
Any links?
Who gave Panetta the power to make such threats?
DW
Sooner or later – and I suspect sooner – someone besides the military will figure out how to this cheaply and easily. Of course this will eventually put suicide bombers out of a job.
One wonders, cmaukonen, when drones will replace … politicians?/s
(I know, it may be argued that they have done so from the “beginning” …)
Presumably drones, or robots, can replace everyone else …
Who, among us, is not expendable to the greater ambitions and Manifest Destiny of the “Homeland”?
DW
I was listening to headlines in WPR while taking a rest. Panetta called the ability of Taliban to attack U.S. Af troops & then to escape to safe havens in Pak “intolerable.” Sounded like invasion plans to me.
You had to see that one coming. With Iraq…peaceful, mostly, and the Libyan thing winding down, we only have ONE war. That’s not enough to keep the MIC happy.
Higher unemployment in Iraq……that’s not a good thing.
You won’t find, nor can you program, a robot as funny as me. I’m not worried.
Well, there’s always Iran. Israel has been pushing relentlessly for an Iran attack.
While the USA politicians scrimp and cut internal FEMA USA disaster aid, these beholden traitors in Congress scramble to give more foreign aid to Israel and other countries that have much less debt per capita than the USA. Traitorous is not too strong a descriptor to be used against many in Congress.
I don’t know about that. Ahmadinejad releasing our “student hikers” may jeopardize our “legitimacy” in justifying an invasion there. Plus the international atomic guys say they are still several years away from a bomb even though they ARE developing long range missiles.
I we can place just ONE Taliban or al-Qaeda member there, I think we can pull it off.
You’ve got a point. If wew would “hang” a few congresscritters we might get their attention. Or, at least, tar a nd feather them and run them ouf town on a rail.
I really miss the good ol’ days when “men were men” and women didn’t constantly complain about me not picking up my socks.
You seem to live in a real world. Insider-the-beltwayers live in the reality creation world.
BTW, freeing the hikers (are they out yet?) could be viewed as the bell ringing for the attack to begin bc they can no longer be placed inside Bashir, not that that would stop U.S. for a second.
AFAIK, the only thing that’s stopped the attack so far is some in U.S. military telling O it would be a disaster for U.S. But it will be only a matter of time bef Israel figures out a way of marginalizing them.
I heard that Ahmadinejad decided he wanted something “in return” for releasing them. And catch this….he wanted FREE HBO and Cinemax for a year.
I was thinking that O is U.S.’s Akmedinejad. I’m in the middle of reading Robin Wright’s book on the Iranian Revolution (put it down to do other stuff), and it’s full of hopey-changey. And look what the Iranians got. And look what U.S.ians got. Seems pretty similar.
On edit: Another similarity. If Suskind’s book is accurate, seems like O’s been watching a lot of HBO & Cinemax since inauguration.
The investigation into the options trading before 9/11 led nowhere – I expect the same result for any investigation of the very rich.