LIGHTNING ROUND: VAST LEFT-WING CONSPIRACY EDITION.
- It boggles the mind that Sen. Judd Gregg would refer to the budget reconciliation process as a form of mob rule when all it is is a simple majority-rule vote. Worse, The Washington Post article that contains the Gregg quote seems to parrot the notion that the 60-votes needed to invoke cloture is actually the norm in the Senate, whereas in reality the current filibuster threshold is only about 30 years old and how the filibuster itself is used has changed considerably over the years. At any rate, Gregg is a rank hypocrite and if the Republican opposition (and Evan Bayh's cowardly blue dog caucus) is going to continue implying that Barack Obama as some sort of dictator, then the administration shouldn't bother trying to work with these obstructionists and simply muster 51 votes for health care and cap-and-trade.
- Even as the Senate moves on the AIG bonus scandal, the Obama administration is trying to get ahead of the story and take responsibility for it. This is arguably necessary, lest they lose credibility with the public, and fairly bold: statements like these will hasten the perception that the economy -- whatever state its in -- now belongs to the new president.
- As you're no doubt aware, The American Prospect is the epicenter of a powerful, unaccountable, and vast left-wing conspiracy led by our own Ezra Klein, whom The New York Times' latest hire has referred to as no less influential a figure than William F. Buckley. With a zeal whose intensity could only be matched by the frantic hunt for a Bill Ayers-Barack Obama connection in the closing days of the presidential campaign, The Corner's Mark Hemingway has issued a couple of posts that take a concerned look at the frightening lack of transparency that comes with a private listserv, and Mickey Kaus chimes in with similar concerns that seem to be less about principle than they are whining about a lack of journalistic access. Mike Tomasky takes the uninitiated on a brief tour deep inside the hidden lair, where such diabolical discussions as "eating in or eating out" occur.
- Policy and politics roundup: administration policy for engaging with Iran begins to take shape; Obama signs onto a U.N. declaration that decriminalizes homosexuality (previously rejected by George Bush); and the Pentagon ends the practice of forced-tour extensions, offering instead bonuses for those who remain after their enlistment expires.
- It seems Arlen Specter is open to pulling a Joe Lieberman in Pennsylvania, telling The Hill that he's open to running as an independent next year. Since Specter can't switch after (presumably) losing in a GOP primary to Pat Toomey, a three-way race could emerge between Specter, Toomey and whomever the Democrats throw in the ring. Sounds like fun.
- Remainders: Bradford Plumer asks whether Obama could be doing a better job selling cap-and-trade; anti-EFCA forces pull out the old "workers would make more money if they weren't so lazy" card; Iowa professors agree that Iowans are demographically representative of the United States at large; and CNN/Opinion Research finds a 55 percent majority believe Obama is trying to do too much at once (methodology unknown).
--Mori Dinauer
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COMMENTS (3)
Here are a few suggestions for the Obama regime to regain a shred or 2 of cred. Fire Timmy the Dipshit Geithner and all the other neo-lib fascists. And figure out a way to force Bernanke from the Fed. And get that venal boob Chris Dodd out of the Senate. That's just a start, Mr. Dictator Obama.
Posted by: Mob Rule | March 18, 2009 10:26 PM
poke the fun at those mocking listserv if you must, but its existence makes Ezra et al, no better than the other mainstreamers sharing the same opinions.
same old same old
Posted by: Anonymous | March 19, 2009 9:14 AM
The Republicans are unduly exploitive, but the AIG situation has been mishandled.
Surely, someone (Paulson or Geitner?) should have known about the compensation contracts that has resulted in this bonus mess and required their unraveling before the bail out money was released. Negotiation: The employees could well have been persuaded to negotiate because of the alternative might have been bankruptcy and loss or drastic reduction of bonuses.
It is a mess and an embarrassing distraction for the Obama administration. It is, however, important to realize that these sordid payments total a relatively small sum when compared to aggregate bail out money. Also, the bail out is not really forAIG but for the counterparties to is unwise insurance contracts, and for the financial system as a whole. The government owns 80% of AIG so the stockholders have been losers. (But why not 100%?)
Negotiation: It seems that the counterparties are getting full payment under their contracts. Why? Reductions would be in order given that otherwise they could be dealing with a company in bankruptcy.
I don't know if these contracts can be broken, but I would say let them sue for their money. Wouldn't incompetence and causing company ruin be a defense?
Question: Much is being made of the mysterious deletion of a legislative provision that, it is said, would have prevented unreasonable bonuses. But, according to what I've seen in the media, all this provision did was to tax at 35% bonus compensation in excess of $100,000. But wouldn't such a bonus, on top of a salary, already be taxed at this rate?
A related point. Many say, and it is true, that Wall Street contracts are being treated differently from blue collar union contracts in Detroit. And that is unfair. The difference is that any individual contract makes little difference whereas the requested changes in the union contracts may well save thousands of jobs.
homer www.altara.blogspot.com
Posted by: altara | March 19, 2009 10:10 AM