I’m getting a case of senioritis…
• Corporations are not people when they torture. This was a unanimous ruling written by Justice Sotomayor, by the way. This was largely based on legislative history of the law in question.
• Lower fuel consumption in the US is a positive trend that has sustained through recession and fluctuation in gas prices, so I think it’s here to stay. This also means that the highway trust fund needs to find a new source of revenue, as gas taxes won’t cover it.
• The Wall Street Journal picks up on some data that Matt Stoller looked at previously, on inequality spiking after the recession.
• Now here’s some rare good news: Blue Dogs might be an endangered species after the 2012 elections.
• Always take Lori Montgomery with a grain of salt, but retirement account tax breaks could end up on the chopping block. Pair this with HUD and you’re seeing a lot of formerly sacred cows in the budget up in the air. Less sacred, but the clean energy subsidies, too, are going away.
• Meanwhile, this is a brilliant move on the part of Barney Frank and Brad Miller. Maybe more on this tomorrow.
• Treasury recognizes that their failure to make any changes to mortgage securitization means that they will have to maintain a public role in mortgage finance basically forever.
• And now the derivatives rules in Dodd-Frank are getting a good and thorough gutting. Expect all firms to now trade $7.999 billion in derivatives, along with their associated holding companies and subsidiaries.
• Peter Orszag looks at positive change in health care delivery, outside of Washington.
• Maybe the Supreme Court will do better on retroactivity of the new crack/cocaine sentencing disparity law.
• A new report shows that Congress has basically been inert in the two years following the BP oil spill, with no significant legislation that would prevent future disasters.
• The trial judge correctly recused herself in the George Zimmerman case, and handed it over to an alternate judge.
• Along with postal reform, the Senate is trying to wedge Republicans by reauthorizing the Violence Against Women Act. They actually have the votes in hand, but the House is another matter.
• People have figured out the link between climate change and extreme weather without any help from the media.
• The Texas Monthly returns to one of the blogosphere’s favorite subjects, the Bush National Guard story. Among other things, they find the whole kerning thing to be a red herring.
• A good debate on oil prices and speculation from Mark Thoma, clearly a speculation skeptic. Wonder if he’d care to respond to the St. Louis Fed’s research on this point. Related commentary from Juan Cole.
• Those new fracking guidelines from EPA are out, and they rolled them back to some degree. Nobody wants to ruin the great and good market for natural gas.
• Robert Reich is very optimistic on the Citigroup shareholder revolt yesterday.
• Iran claims to have foiled another assassination plot with a series of arrests.
• I’m somewhat skeptical that Marco Rubio’s non-DREAM Act will move the needle at all for the GOP.
• Raw Story executive editor Megan Carpentier underwent a transvaginal ultrasound and gives her thoughts on the procedure.
• Electronic Arts swings the election to Romney by setting the Halo 4 release date for Election Day. There’s still early and absentee voting, I guess.
• Thanks a lot for blowing it, Wall Street Journal!
• Scott Brown lorded the Red Sox and Fenway Park against Martha Coakley in his last election, so I think his donation from one of the Yankee owners is fair game.
• I’ve heard of sitting public officials having radio shows where they go on with some host for an hour a week, but a sitting Lt. Governor getting a cable news talk show? This just shows you how useless a job the Lt. Governor of California is.
• Tom Friedman makes an early bid for wanker of the next decade.
• RIP Dick Clark, a Philadelphia tradition. Also Levon Helm is on his deathbed, which is truly sad.




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RE “Meanwhile, this is a brilliant move on the part of Barney Frank and Brad Miller. Maybe more on this tomorrow.” ; read the link and got curious about ” Interestingly, the Fed, when it was officially controlled by Treasury in the 1930s and 1940s (up until the mostly unknown and critical fight with Truman that produced the Fed-Treasury Accord), financed the New Deal, World War II, and saw unemployment drop to 1% as inequality collapsed and America became a middle class nation.”
so looked up about the Accord and came across this ; sounds like the banksters are about to screw everyone again.
S 1813 ES to reauthorize Federal-aid highway and highway safety construction programs calls for Black Box Recorders on all new cars starting with model year 2015.
http://www.economicpolicyjournal.com/2012/04/big-government-on-steroids-senate-bill.html
Neoliberal Andrew Cuomo burnishes his sensibly centrist bipartisanosity for 2016:
RE “The Texas Monthly returns to one of the blogosphere’s favorite subjects,” ; THIS from the story is a story unto itself as such lack of reporting continues to this day: “With the presidential campaign about to begin, it was now open season on the Guard story, which had still never drawn a sustained national investigation.”
From Ellen Brown:
How the Goldman Vampire Squid Just Captured Europe
The Goldman Sachs coup that failed in America has nearly succeeded in Europe – a permanent, irrevocable, unchallengeable bailout for the banks underwritten by the taxpayers.
LINK.
Another little story from deep in the oily part of TX:
Court decision could open big hole in state revenues
“A state judge’s ruling to exempt oil and gas companies from paying sales taxes on extraction equipment could cost the state billions in revenue, according to media reports.”
LINK.
No Savings Are Found From Welfare Drug Tests
“Ushered in amid promises that it would save taxpayers money and deter drug users, a Florida law requiring drug tests for people who seek welfare benefits resulted in no direct savings, snared few drug users and had no effect on the number of applications, according to recently released state data.”
LINK.
Neat data source showing how out-of-whack our tax system is.
Top Ten Federal Tax Charts LINK
It’s a good day to take a cosmic break.
Very nice.
: )
Honduras farm workers stage mass land occupations
Thousands of rural workers in Honduras have occupied land as part of a dispute with large landowners and the government.
LINK.
Huge news.
Breast cancer rules rewritten in ‘landmark’ study
“What we currently call breast cancer should be thought of as 10 completely separate diseases, according to an international study which has been described as a “landmark”.
“The categories could improve treatment by tailoring drugs for a patient’s exact type of breast cancer and help predict survival more accurately.”
LINK.
Julian Assange’s The World Tomorrow: Hassan Nasrallah
http://www.youtube.com/watch?v=GDLXPpooA18&feature=related
He recommends a one state democracy for Palestine and Israel.
Obama’s New Drug Control Report Calls for More Workplace Drug Testing, Nationwide Zero Tolerance Laws, Prescription-Only Ephedrine Products, and the Return of the “Above the Influence” Campaign: http://ow.ly/alu99
The progressive pupa of Change has metamorphisized into a Totalitarian Nanny Stater. Awful if you have hay fever or ear problems.
yes very nice
FYI. The St. Louis Fed report showed that speculation amplifies underlying market forces. During times of real shortages (leading up to 2008), it increased the prices; once the recession hit, it accelerated their decline.
So, any regulation of speculation will have at best a short term effect, which may be all any politician needs.
April 12th 1952:
Wikipedia:
“When news of the vaccine’s success was made public on April 12, 1955, Salk was hailed as a “miracle worker”, and the day “almost became a national holiday.” His sole focus had been to develop a safe and effective vaccine as rapidly as possible, with no interest in personal profit.
times sure have changed haven’t they?
Wikipedia entry AIDS vaccine:
“Economic issues with developing an AIDS vaccine include the need for advance purchase commitment (or advance market commitments) because after an AIDS vaccine has been developed, governments and NGOs may be able to bid the price down to marginal cost.”
new york times “city blog”
“Hedge fund managers and their immediate family members gave $23.4 million to state and local campaigns from 2005 to last year, according to a new report. [The Empire]
Major education lobbying firms spent more than $10 million over the past two years to counter the influence of teachers’ unions in Albany. [New York World]“