The Whiches of Eastwood – Puzzling RNC Performance Pulls Focus Totally From Romney

By: Friday August 31, 2012 6:17 am

The thing is, the night was shaping up pretty well for Mitt Romney. The testimonials from members of his church, business partners and political colleagues were heartfelt and often touching. Jane Edmonds, a Democratic member of his cabinet in Massachusetts, made a strong case for his dedication and work ethic. The well-done personal video actually [...]

The Roundup for August 30, 2012

By: Thursday August 30, 2012 3:03 pm

Here’s your news for this Thursday evening. International Developments ❖ Unbelievable. 270 workers at South Africa’s Marikana Mine “will be charged later with the murder of 34 colleagues shot by police”, under the “‘common purpose’ doctrine.” Charges, if any, against the police will only be made once an official investigation has ended. ❖ Syrian rebels [...]

Justice Department Ends Investigation Into Bush-Era Torture, With No Charges

By: Thursday August 30, 2012 12:50 pm

Well, that’s that. The Justice Department has just formally ended their investigation into CIA “enhanced interrogations” without bringing any charges. This was the investigation headed by John Durham, the federal prosecutor selected in August 2009 to look into charges of torture in CIA interrogations during the Bush Administration. We know plenty about those charges. The [...]

Obama, The Not-So-Great Debate, Austerity and the Election

By: Thursday August 30, 2012 12:01 pm

In contrast to a Reddit Q&A session that clarified the President’s position on the White House microbrewery and his favorite basketball player, Time Magazine offered a far more revealing look at the President’s plans for a second term, particularly as it relates to social insurance. I’ve been laying out repeatedly that the great debate on [...]

ECB Makes Pitch to Germany on Bond-Buying

By: Thursday August 30, 2012 11:13 am

It appears the European Central Bank is ready to pick a fight with Germany over their resistance to saving the Eurozone economy through monetary means. Writing in the German newspaper Die Zeit, ECB president Mario Draghi espoused a viewpoint basically contradictory to the German reserve at using monetary tools to stop cascading bond yields in [...]

Federal Court Blocks Texas Voter ID Law

By: Thursday August 30, 2012 10:33 am

The latest in a string of rulings limiting the GOP’s war on voting has come down. A federal court has unanimously stopped Texas from instituting a voter ID law. While this would seem contradictory to the Supreme Court’s upholding of voter ID for Indiana in 2009, this case is different because it follows the Justice [...]

The Story of the Janesville GM Plant

By: Thursday August 30, 2012 9:57 am

I’ve already made myself clear about our glorious post-fact universe, and I don’t really think these examples of the traditional media supposedly meeting their obligations relative to Paul Ryan’s convention speech fit the bill. These examples come from the segregated “fact-check” organizations and the opinion pages of the large newspapers and media outlets. The facts [...]

Media Falling for Short Sale Scam in Foreclosure Fraud Settlement

By: Thursday August 30, 2012 9:09 am

A couple other outlets have picked up on my research of the first report from the Office of Mortgage Settlement Oversight, showing that banks have, to this point, paid off practically all of their “punishment” through short sales that they were already pursuing. Yves Smith provides additional context to this point, looking back at the [...]

Medicaid Cutbacks Rely on Trims to Dental Coverage

By: Thursday August 30, 2012 8:14 am

We’re told that we’re on the precipice of coming to a great reckoning with our major health care programs. Medicare and Medicaid are bloated and must be brought to heel. The truth is we’re already going through that reckoning. We’re already cutting back on these programs. The federal government just leaves it to the states [...]

What Divides Us, What Unites Us: Politics Circa 2012

By: Thursday August 30, 2012 7:38 am

Here’s an important point from Matt Yglesias that I think most people here would agree with. He riffs off a line from Paul Ryan’s convention speech – “None of us have to settle for the best this administration offers — a dull, adventureless journey from one entitlement to the next, a government-planned life, a country [...]

Citi Settles for $590 Million With Shareholders Over Misrepresentations During Financial Crisis

By: Thursday August 30, 2012 6:59 am

Citigroup has settled a class-action lawsuit with shareholders over how Citi managed subprime securities during the financial crisis, a second-order fraud unconnected to the actual fraud of securitization and knowingly selling the bad securities in the first place. Citigroup said on Wednesday that it had agreed to pay $590 million to settle a class action [...]

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