News, news, everywhere news…

• Income inequality is implicitly tied to political power; that’s why it’s such a signature issue in American life.

• Tax expenditures, the hidden subsidies in the federal budget ferried in through the tax code, now total over $1 trillion a year. Incidentally, Senate Democrats proposed more today with a small business tax expenditure.

• The Trayvon Martin case and the Florida “Stand Your Ground” law associated with it can be tied back to ALEC, the corporate front group that basically writes all conservative legislation in the states.

• Elizabeth Kolbert dares to speak the unspoken, mention that the gas tax should probably go up.

• No homeowner cares about the OCC foreclosure reviews because none of them believe it will lead to anything of consequence. And then OCC will tout this as proof that the banks did nothing wrong.

• Richard Cordray claims that the CFPB has “active investigations” going on at the major banks. I’d like to know about that!

• The US and Turkey have discussed sending non-lethal aid, like communications equipment, to the Syrian rebel forces.

• The bank bailouts, continued. And ongoing. For example, their victory over the Volcker rule, enabling risky proprietary bets and privatized profits (with socialized risk).

• On the other hand, we may see a breakup of Ally Bank very soon.

• The catnip of the day came from this hot mic quote where Obama told outgoing Russian President Dmitry Medvedev he would have “more flexibility” on missile defense after the election. In order for this to be sinister, you have to extrapolate it to something other than missile defense.

• An African leader actually concedes defeat in an election, a real rarity on the continent and a sign of mature leadership. The President termed it an example of good governance.

• Businesses, at least recognize how devastating postal service cuts will ripple through the economy. It’s time to go back to my idea for a public option for simple banking.

• So now we’re going to look into irrelevant moments of Trayvon Martin’s life to smear him after his death? What does this have to do with him being shot while unarmed and holding a packet of Skittles and an iced tea? Next thing you know friends of George Zimmerman will start saying that he lost his life too… oh wait.

• David Cameron is not only destroying his country economically, he’s also a classic corrupt politician to boot.

• Yet another housing metric goes down on a month-over-month basis. “Up year-over-year” doesn’t nullify that.

• Pretty serious charges that Republican member of the NLRB Terrence Flynn leaked information about their work to allies, including Romney labor advisor Peter Schaumber. The AFL-CIO wants both Flynn and Schaumber to step down.

• Ryan Lizza posts the memo that led Barack Obama, originally an individual mandate opponent, to change his mind. Romneycare is mentioned prominently.

• Laura Richardson is a terrible boss and an embarrassment of a member of Congress who will hopefully be gone by the end of the year.

• Newspaper reporters in Wisconsin are being pilloried for signing the petitions to recall Scott Walker.

• The Tea Party Movement must really be dead, they held a rally over the weekend against Obamacare, and the athiest rally got more attention.

• Dominique Strauss-Kahn just got his way out of the rape charges in New York, and now he’s looking at prostitution ring charges in France.

• Digby on Mad Men, feminism and the return of the war on women.

• A really sickening story in California, with an Iraqi Muslim beaten to death in a hate crime.

Seriously, Herman Cain? Not for catapulting the rabbit, but for using that “this is your brain on drugs, any questions” model, 20 years too late?