Midstream News

Moved to The Boojum Post

2009-03-02T20:00:00.000-08:00

This project is continuing at The Boojum Post,

http://boojum-post.blogspot.com/

swamppolitics: Hillary Clinton: Changing of the guard

2009-02-18T10:26:00.000-08:00

Clinton also made clear on Day One that she plans to take an expansive view of her new job. She won’t be talking to the wide world solely about diplomatic minutiae, but about all that she’s experienced as a celebrity senator, presidential candidate and first lady. [....]

She showed a wide spectrum of interests, including many with a distinctly Democratic flavor: climate change, clean energy, families, world poverty, the disabled, the advancement of women. In a 45-minute “town hall” meeting at the university, she ranged across such topics as the tough choices facing women, the need for healthy habits among the elderly, and of course, baseball.

swamppolitics.com/news/politics/blog/2009/02/hillary_clinton_changing_of_th.html

NYT - Bailout Robbing Banks?

2009-02-18T06:39:00.000-08:00

[This is an op-ed piece but contains useful info]

The Bailout Is Robbing the Banks

By JOHN C. COATES and DAVID S. SCHARFSTEIN
Published: February 17, 2009

MANY Americans are angry at banks for taking bailout money while still cutting back on lending. But the government is also to blame. For reasons that remain unclear, the Troubled Asset Relief Program has channeled aid to bank holding companies rather than banks. The Obama administration’s new Financial Stability Plan will have more influence on bank lending if it actually directs its support to banks.

Full article at: http://www.nytimes.com/2009/02/18/opinion/18scharfstein.html?_r=1&th&emc=th

Bloomberg - Stock Market Woes

2009-02-17T17:20:00.000-08:00

U.S. Stocks Slide to 3-Month Low on Recession Concern; GM Sinks
By Elizabeth Stanton

Feb. 17 (Bloomberg) -- U.S. stocks tumbled to a three-month low, extending a global slump, as a record contraction in New York manufacturing spurred concern the government’s stimulus package won’t be enough to curb the deepening recession.

Bank of America Corp., Citigroup Inc. and JPMorgan Chase & Co. each lost 12 percent. Exxon Mobil Corp. was the biggest drag on the Standard & Poor’s 500 Index as oil slid almost 7 percent. General Motors Corp., the largest U.S. carmaker, sank 13 percent as it took its case for more government support to the Treasury Department. Banks led declines in Europe and Asia on concern they may face ratings downgrades and more losses.

Full Article at: http://bloomberg.com/apps/news?pid=20601087&sid=a3VqcI4keryE&refer=home

CNN: Founder of Islamic TV station [confesses?] beheading wife

2009-02-16T20:52:00.000-08:00

Muzzammil Hassan was charged with second-degree murder after police found the decapitated body of his wife, Aasiya Hassan, at the Bridges TV station in the Buffalo suburb of Orchard Park, said Andrew Benz, Orchard Park's police chief.

[....]

On Monday, [Police Chief] Benz told CNN that Hassan went directly to the police station after his wife's death Thursday and confessed to killing her. However, Benz on Tuesday denied that he'd said Hassan confessed.
[....]
He had two children, 4 and 6, with his wife. He had two other children, 17 and 18, from his previous marriage.

http://www.cnn.com/2009/CRIME/02/16/buffalo.beheading/

Wash Times: Obama to ease curbs on CEO pay

2009-02-16T09:31:00.001-08:00

Wants late fix to stimulus plan

the caps inserted into the $787 billion Democrat-crafted stimulus Congress passed Friday are too restrictive and could be counterproductive, administration officials said on Sunday's political talk shows.

http://washingtontimes.com/news/2009/feb/16/obama-seeking-to-ease-limits-on-executive-salaries/?page=2

IBD: Why a Commerce job goes unfilled

2009-02-15T10:41:00.000-08:00

The decision to remove the 2010 Census from the Commerce Department and give it to White House political operatives was a strong vote of no confidence in Gregg.

It wasn't the only signal. On the day Gregg quit, White House Press Secretary Robert Gibbs declared the Colombia free-trade agreement was dead, too. "I think the concerns that (President Obama) and others have are still valid around that trade agreement," Semana, a Colombian publication, quoted Gibbs as saying.

http://www.ibdeditorials.com/IBDArticles.aspx?secid=1501&status=article&id=319420337739273&secure=1&show=1&rss=1

WSJ -Obama's Overheated Rhetoric is the Catastrophe

2009-02-15T07:57:00.000-08:00

Obama's Rhetoric Is the Real 'Catastrophe'
In 1932, automobile production shriveled by 90%.

By BRADLEY R. SCHILLER

President Barack Obama has turned fearmongering into an art form. He has repeatedly raised the specter of another Great Depression. First, he did so to win votes in the November election. He has done so again recently to sway congressional votes for his stimulus package.

In his remarks, every gloomy statistic on the economy becomes a harbinger of doom. As he tells it, today's economy is the worst since the Great Depression. Without his Recovery and Reinvestment Act, he says, the economy will fall back into that abyss and may never recover.

Full article at:http://online.wsj.com/article/SB123457303244386495.html

NWI: Senate Democrats pass stimulus bill

2009-02-14T01:06:00.000-08:00

The legislation, among the costliest ever considered in Congress, provides billions of dollars to aid victims of the recession through unemployment benefits, food stamps, medical care, job retraining and more. Tens of billions are ticketed for the states to offset cuts they might otherwise have to make in aid to schools and local governments, and there is more than $48 billion for transportation projects such as road and bridge construction, mass transit and high-speed rail. [....]

In a bow to political reality, lawmakers included $70 billion to shelter upper middle-class and wealthier taxpayers from an income tax increase that would otherwise hit them, a provision that the nonpartisan Congressional Budget Office said would do relatively little to create jobs.

Also included were funds for two of Obama's initiatives, the expansion of computerized information technology in the health care industry and billions to create so-called green jobs the administration says will begin reducing the country's dependence on foreign oil.

[ This is a little puffy toward Obama, but overall it gives a pretty good overview of the whole process of the bill's passage. ]

More at http://www.nwi.com/articles/2009/02/13/updates/breaking_news/doc49959f8a52db3857998754.txt#blogcomments

Why This Recession Seems Worse Than ’70s and ’80s

2009-02-13T19:12:00.000-08:00

If you think this recession is the worst since World War II, chances are you weren’t born or working during the downturns of the 1970s and ’80s, you’re listening to President Obama too much or you’re a white-collar worker in financial services.

If all three are true, you may even think we’re on the verge of another Great Depression.

At this point, the only thing that may be true is your age and employment status.

FT: China to stick with US bonds

2009-02-12T23:14:00.000-08:00

Mr Luo, speaking at the Global Association of Risk Management’s 10th Annual Risk Management Convention, said: “Except for US Treasuries, what can you hold?” he asked. “Gold? You don’t hold Japanese government bonds or UK bonds. US Treasuries are the safe haven. For everyone, including China, it is the only option.”

Mr Luo, whose English tends toward the colloquial, added: “We hate you guys. Once you start issuing $1 trillion-$2 trillion [$1,000bn-$2,000bn] . . .we know the dollar is going to depreciate, so we hate you guys but there is nothing much we can do.”

From an informative article at http://www.ft.com/cms/s/0/ba857be6-f88f-11dd-aae8-000077b07658.html

CSM: Hillary Clinton’s climate-saving voyage

2009-02-12T11:35:00.000-08:00

While the most urgent issue is Beijing’s help to end a global recession, Mrs. Clinton’s more planet-saving goal is to enlist China to set curbs on its carbon emissions. Without that, President Obama may not be able to win enough Senate votes for a cap on US greenhouse gases.

By the Monitor’s Editorial Board

from the February 13, 2009 edition

csmonitor.com/2009/0213/p08s01-comv.html

Pesek: Clinton will pull Rubin stunt on visit to China

2009-02-12T10:51:00.000-08:00

[ An odd headline for what is actually a good article. ]

Clinton wants to pull a Robert Rubin on his old department. When Rubin was Bill Clinton’s Treasury secretary, he co-opted many of the state department’s traditional functions. With Asia, Mexico and Russia in crisis during his tenure, Rubin fused economic policy with diplomacy in unprecedented ways. [....]

The last thing the US needs is a trade war with its main creditor. That doesn’t mean Clinton’s visit to China will avoid hard feelings. Not with US diplomacy and economics becoming one.

From a long excellent article by William Pesek at businessmirror.com.ph/index.php?option=com_content&view=article&id=6046:clinton-will-pull-rubin-stunt-on-visit-to-china&catid=28:opinion&Itemid=64

Reuters: [ Obama press conference ratings ]

2009-02-11T17:51:00.000-08:00

More than 49 million Americans watched President Barack Obama’s first White House news conference [....]

That figure was much lower than the 64.3 million Americans who watched President Bill Clinton’s 1993 post-inauguration news conference on the economy, Nielsen said.

The audience size also was lower than some of the election debates, including the record 70 million viewers who tuned their TV sets to the vice-presidential contest between Democrat Joe Biden and Republican Sarah Palin.

http://www.reuters.com/article/politicsNews/idUSTRE5196IX20090210

UK Telegraph: Barack Obama fights to maintain a grip on the US political agenda

2009-02-04T21:20:00.000-08:00

He has admitted “screwing up” key White House appointments and now faces possible defeat in the Senate over his economic stimulus bill.

He was also condemned by High Court judges in Britain after it emerged his administration was standing by a threat to halt intelligence co-operation in a row over the alleged torture of a Guantanamo Bay detainee. [....]

After failing to secure a single Republican vote for the stimulus bill that passed in the House of Representatives, Mr Obama is now struggling to persuade Republicans over the Senate version.

Democratic leaders, who enjoy a 58 to 41 majority in the Senate, have warned him that the $900 billion bill might not pass if it is not stripped of projects that would be unlikely to give a swift boost to the economy.

telegraph.co.uk/news/worldnews/northamerica/usa/barackobama/4515462/Barack-Obama-fights-to-maintain-a-grip-on-the-US-political-agenda.html

Financial Times -- Davos Appeals for Help

2009-02-04T16:33:00.000-08:00

Why Davos Man is waiting for Obama to save him

By Martin Wolf
A hyperpower’s place is in the wrong. This is particularly true when, as last week at the annual meeting of the World Economic Forum in Davos, the hyperpower in question is barely represented, at least at the official level. But, truth to tell, the critics of the US – led by prime ministers Wen Jiabao of China and Vladimir Putin of Russia – had an easy story of incompetence and malfeasance to tell.

Yet, however easy it may be to blame the US for the current global economic woes, it is also to the US that the world looks for a solution...

Full Article at: http://www.ft.com/cms/s/0/4a44f222-f221-11dd-9678-0000779fd2ac.html?nclick_check=1

Washington Post - Entitlement Stumbles

2009-02-04T16:27:00.000-08:00

Stumbling on Their Sense of Entitlement

John Thain spent $1.2 million to redecorate his office.
By Steven Pearlstein
Wednesday, February 4, 2009; Page D01

Tom Daschle still doesn't get it. John Thain never did. Barack Obama gets it sometimes, Nancy Pelosi and John Boehner not so much. Corporate executives think they get it but aren't even close. College presidents, governors and union leaders, for the most part, don't have a clue.
"It" is an understanding of how fundamentally the political and economic environment has been transformed with the bursting of the bubble economy and how that has jeopardized basic assumptions and expectations and the way we do what we do.

Tom Daschle's problem wasn't that he didn't pay his taxes...

Full Article at: http://www.washingtonpost.com/wp-dyn/content/article/2009/02/03/AR2009020303634.html

Indian site Indopia: Despite challenges, Clinton pokes fun at herself and Bill

2009-02-03T09:49:00.000-08:00

Washington , Feb 3 (AFP) Despite the daunting challenges she faces as the new US secretary of state, Hillary Clinton poked fun at herself and at her husband Bill Clinton during her swearing-in.

"I&aposm so grateful to him for a lifetime of all kinds of experiences,"said Clinton, pausing in the middle of her phrase before finishing it on a harder tone at an elite ceremony in the State Department.

Her joke drew hearty laughter from a group of diplomats, politicians and a leading comedian as well as her mother, daughterChelsea and the ex-president, his ruddy cheeks and white hair a match with his red-and-white-striped tie.

LAT: TARP probe delayed over paperwork rule

2009-02-02T21:51:00.000-08:00

By Ralph Vartabedian January 31, 2009 -

The Obama administration has told special investigators in the Treasury Department to delay a comprehensive examination of how banks and other corporations are using $350 billion in federal bailout money because of possible

conflicts with federal paperwork statutes. [....]

The OMB could have issued a rare emergency waiver of the law. [....]

Barofsky "should not have to jump through bureaucratic hoops in order to gather basic information that the government could have and should have required as a condition of the receipt of TARP funds in the first place," Grassley told OMB director Peter Orszag in a letter. Grassley also disputed whether the paperwork law applied to the investigation.

http://www.latimes.com/news/nationworld/nation/la-na-tarp31-2009jan31,0,679610.story

BOSTON GLOBE - JUDD GREGG TO COMMERCE?

2009-01-31T17:26:00.000-08:00

Gregg leading candidate for Secretary of Commerce

By Michael Kranish
Globe Staff
WASHINGTON -- Senator Judd Gregg moved closer today to being nominated Secretary of Commerce after an administration official said the New Hampshire Republican had become President Barack Obama’s “leading candidate” for the job.
The official, who was authorized to speak only on condition of anonymity, spoke from a prepared comment, furthering the perception that Obama could pick Gregg soon. The official declined to say whether Gregg had been offered the job or whether a final decision had been made. No announcement is expected until Monday at the earliest.
If past Cabinet nominations are a guide, Obama’s aides put out word about a leading candidate as part of the vetting process, in part to see if the report of a possible pick turns up any surprises and to gauge reaction. One reaction so far has come from Republicans who fear they would lose a seat to the opposition party...

Full article at: http://www.boston.com/news/politics/politicalintelligence/2009/01/gregg_leading_c.html

The Hill - Surprise! CBC wants AA as Commerce Secty.

2009-01-30T16:49:00.000-08:00

CBC wants African-American as Commerce secretary
By Mike Soraghan
Posted: 01/29/09 06:04 PM [ET]

The Congressional Black Caucus is lobbying President Barack Obama to pick African-American technology executive John Thompson to be his commerce secretary. Thompson is chairman and chief executive officer of Symantec Corp, the software security company best known for its Norton computer protection products. He is expected to step down in early April.
In a letter to Obama, the caucus members stressed that Thompson is the only African-American leading a major technology company...

Full Article at: http://thehill.com/leading-the-news/cbc-wants-african-american-as-commerce-secretary-2009-01-29.html

WSJ: From Yachts to Textiles, Perks for Special Interests

2009-01-29T04:01:00.000-08:00

WASHINGTON — The economic stimulus plan could include dozens of special-interest provisions pushed by lawmakers to help constituents such as the South Florida yacht-repair industry, Manhattan subway riders and California wine makers.

....

Many of the special-interest projects were included in a version of the stimulus plan that passed the House on Wednesday. In the Senate, lobbying groups from the agriculture to timber industries are working with home-state senators to add their pet items to the Senate version of the bill, which is set to be debated on the floor next week.

http://online.wsj.com/article/SB123318931108326779.html

Chi Trib: SarahPAC

2009-01-28T01:36:00.000-08:00

After catapulting to fame last year as Republican presidential candidate John McCain's running mate, Palin is widely believed to be eyeing a presidential bid in 2012. Aides said that SarahPAC will help serve as a vehicle for her political activities going forward.

http://www.chicagotribune.com/news/politics/chi-sarahpac-090127-ht,0,6390407.story

Possibly moving

2009-01-27T20:53:00.000-08:00

We're testing a new name and address for continuing this project:

Straightforward News and Opinions

http://straightforwardnews.blogspot.com/

Any comments?

NYT - Bonuses Are Obscene

2009-01-27T09:55:00.000-08:00

Money for Nothing

By DAVE KRASNE
Published: January 26, 2009

MERRILL LYNCH lost $27 billion last year, and yet still managed to rush through $4 billion worth of year-end bonuses in the days before it was taken over by Bank of America.
Because both companies have been the beneficiaries of the Treasury’s Troubled Asset Relief Program, news of these bonuses was met with predictable uproar: Attorney General Andrew Cuomo of New York threatened to investigate; any elected official with access to a microphone joined in a chorus of “shame on you”; and around every water cooler and on every cable channel, pundits offered up scathing commentaries of Wall Street greed.

Merrill Lynch is not the only irresponsible institution out there. Despite a year of record losses, despite all the taxpayer money being injected into our financial institutions, bonuses for 2008 were, in some cases, down less than 50 percent from those the previous year...

Full Article at: http://www.nytimes.com/2009/01/27/opinion/27krasne.html?_r=1&th&emc=th

Officials: Family planning money may be dropped [from Stimulus]

2009-01-26T22:48:00.001-08:00

Several Democrats said Monday night that Obama had spoken personally with Rep. Henry Waxman, D-Calif., about removing the provision. Waxman is chairman of the committee with jurisdiction over Medicaid and a close ally of Speaker Nancy Pelosi, D-Calif.

[ Vote may be today, Tuesday, Jan 27 ]

partizane: That Sarah Palin Is Just Too Green

2009-01-25T22:40:00.000-08:00

[ More than one good item here. ]

As I reported last fall (http://www.partizane.com/node/376), right after Palin first took office as Governor, she threw her support behind the effort to create a state-level Climate Control Cabinet and under her governance Alaska became one of the first states to do so. In this same vein, in January of 2008, she announced the appointment of an Energy Coordinator to activate a statewide energy plan, now approved by the state legislators, which would include earnings from a Renewable Energy Fund for implementing alternative projects, including hydro, wind, geothermal and biomass.

....

According to the Alaska Daily News, the Governor has just announced:

"the most ambitious renewable energy goals in the nation" and has "called for 50 percent of Alaska's power to be generated by renewable resources by 2025."

[ Palin released in January 2009 ]"a guide listing alternative energy assets of every village in Alaska. Those resources can be developed to wean far-flung villages off electricity generated by burning diesel fuel..... The community guide is a primer on alternative energy sources as well as an inventory for projects. For example, the accompanying documentation shows that Scammon Bay, a mile from the Bering Sea in western Alaska, has the potential for a wind-diesel hybrid project, and that 700 miles to the northeast on the Yukon River, the village of Circle has potential for generating electricity with geothermal resources. ......

Pat Lavin, an attorney for the National Wildlife Federation, has called Palin's announcement "a defining moment in Alaska's history." ....

Palin energy adviser Steve Haagenson, who oversaw the village report, also unveiled the first 77 projects picked for grants from the $100 million Alaska Renewable Energy Fund. They range from wind farms in the Aleutians, Kodiak and Delta Junction to a landfill gas recovery project in Anchorage. .......

Joe Balash, Palin's aide on oil and gas, said there will be a continuing effort to find new power generation sources for the Railbelt, likely through a new corporation that can handle projects beyond the capability of individual utilities. Talks have been ongoing with utilities, he said, and legislation likely will be introduced in the 90-day 2009 session, which kicks off Tuesday."

http://www.adn.com/news/alaska/story/657216.html

PDF: "Alaska Energy: A first step toward energy independence"

Quoted from http://www.partizane.com/node/673

New Yorker: MS. KENNEDY REGRETS

2009-01-25T11:38:00.000-08:00

MS. KENNEDY REGRETS

She’s unable to be in the Senate today.

by Larissa MacFarquhar
[ This article has some slant, which wavers elegantly. The whole is well worth reading. ]

[After getting a law degree, she ] interned for a summer at her mother’s lawyer’s firm, but then decided she didn’t want to practice.
[....]
At law school, she and Ellen Alderman decided [to] write a book together [....] They travelled around the country, interviewing people who had been involved in cases in which the principles of the Bill of Rights had been tested. The result, “In Our Defense: The Bill of Rights in Action,” was more pedagogical than analytical[....] Alderman and Kennedy decided to write a similar book, “The Right to Privacy,” about privacy law. [....]

For the next six or seven years [....] basically she was a stay-at-home mother.
[....]
(She declined to be interviewed for this article.)

http://www.newyorker.com/reporting/2009/02/02/090202fa_fact_macfarquhar?currentPage=all

USA Today - Obama Press Spokesman Debuts

2009-01-23T09:08:00.000-08:00

Obama spokesman encounters some bumps in first briefing
President Obama's press secretary, Robert Gibbs, fields questions Thursday at the White House for the first time.

By Mimi Hall, USA TODAY
WASHINGTON — White House press secretary Robert Gibbs clashed with reporters Thursday over anonymous sources and access to President Obama, just one day after Obama pledged "a new era of openness" in government.
At his first White House briefing before a crowd of reporters and camera crews, Gibbs deflected questions about why two senior officials who had earlier briefed the news media about Obama's Guantanamo Bay prison order would not allow their names to be used.
Gibbs also took heat for excluding TV cameras, photographers and a radio reporter from Obama's Wednesday night oath of office do-over with Supreme Court Chief Justice John Roberts...
Full article at: http://www.usatoday.com/news/washington/2009-01-22-gibbs_N.htm

2009-01-22T01:16:00.000-08:00

Politico --Seven Reasons for Skepticism

2009-01-21T09:29:00.000-08:00

Seven reasons for healthy skepticism
By: Jim VandeHei and John F. Harris
January 21, 2009 05:22 AM EST

Even in a city of cynics, the Inauguration of a new president — and the infusion of new ideas, new personalities and new energy that comes with it — summons feelings of reverence. Barack Obama, especially, is the object of inaugural good feelings. He has assembled an impressive White House and Cabinet team. The country is clearly in his corner. With the economy gasping, and two wars dragging on sullenly, even many Republicans who ordinarily might enjoy seeing Obama fail now root for him to succeed. The stakes are simply too great.Amid all these high hopes, it may seem needlessly sour to point out why expectations must be kept in check. But it is also realistic.

Here are seven reasons to be skeptical of Obama’s chances — and the Washington establishment he now leads:...
Full Article at: http://dyn.politico.com/printstory.cfm?uuid=F6F90F53-18FE-70B2-A8F136DF6E0EFE87

TNR: Barack Obama's Speech: A Disappointing Hodgepodge

2009-01-20T23:17:00.000-08:00

by John B. Judis

You can say, of course, that I am treating his speech as a political argument, and not as a piece of oratory, but the problem is that it existed in the netherworld between inspiring oratory and political argument. It had intimations of both, but lived up to the promise of neither. I suspect Obama chose this ambiguous course partly because of the difficulty of the occasion. Argument requires pros and cons, truth and falsity, truth-tellers and misleaders, but an inaugural speech is an instrument of national, and even international, unification. Thus, some who might have actually qualified as misleaders and villains (e.g. the greedy) make only a fleeting appearance, while scorn is heaped upon others (the “cynics… who question the scale of our ambition”) who are inventions of the moment rather than real adversaries. That’s certainly understandable, but it didn’t make for good oratory or argument.

More at: http://blogs.tnr.com/tnr/blogs/the_plank/archive/2009/01/20/a-hodgepodge.aspx

ABC - On the Money Trail

2009-01-19T13:13:00.000-08:00

On the Money Trail: Inauguration Perks Go To the Rich
VIP-seating at the "We Are One" Concert Among the Benefits for Big Donors
By JUSTIN ROOD, ANNA SCHECTER, and MEGAN CHUCHMACH

Jan. 19, 2009—

President-elect Barack Obama billed his inauguration an event "for all Americans." But in the nation's capital this long weekend, wealthy visitors are finding themselves a bit more equal -- and warmer -- than others. Most Americans here to see President-elect Obama make history crammed onto buses and trains, slept on floors and fought crowds and cold. But the wealthiest Americans coming to see the event are enjoying all the perks their money and power ever warranted. For CEOs and stars arriving by private jet, local airports have shut down entire runways to serve as parking lots for their planes. Officials are prepared to handle hundreds of private aircraft for the long weekend...

Full article at:http://abcnews.go.com/Blotter/MoneyTrail/story?id=6680531&page=1

WSJ - Mugging Bank of America

2009-01-18T10:25:00.000-08:00

Mugging Bank of America
No good financial deed goes unpunished.

So much for being a good corporate citizen. Bank of America CEO Ken Lewis earned kudos last year for stepping into the breach when the mortgage market and Wall Street cratered. BofA's purchase of Countrywide Financial and its September agreement to buy Merrill Lynch offered a welcome dose of optimism and private capital amid the panic...

Full Article at: http://online.wsj.com/article/SB123215299934192217.html

Salon - Obama Sells out to Wall Street

2009-01-18T10:15:00.000-08:00

Obama sells out to Wall Street
The president-elect's support of the bank bailout is payback to his wealthy Wall Street supporters.
By David Sirota

Jan. 17, 2009 |

The veto is the legislative equivalent of a nuclear warhead -- a rarely used instrument of devastating force that singularly vaporizes the votes of 535 elected representatives. So when a president-elect issues a veto threat before being sworn into office, it sets off a particularly big explosion because it is a deliberate agenda-setting edict about priorities for the next four years.

That's why every American who isn't a financial industry executive should be nervous...

Full Article at: http://www.salon.com/opinion/feature/2009/01/17/sirota/

[ Albany paper ] Paterson ponders Clinton's successor

2009-01-18T02:03:00.000-08:00

The finalists ...appear to include Caroline Kennedy, state Attorney General Andrew Cuomo, Nassau County Executive Thomas Suozzi and Reps. Steve Israel, D-Nassau County, and Kirsten Gillibrand, D-Hudson, Columbia County.

Paterson downplayed that the selection is between Kennedy and Cuomo, two scions of famous political families with the highest name recognition. In statewide polls this week, Cuomo pulled ahead of Kennedy as the top pick among voters.

"My job is not to pick the person who is popular today, it's the person who is going to be popular in 2010," Paterson said on WFAN-AM radio in New York City.

http://www.democratandchronicle.com/article/20090117/NEWS01/901170344/1002/RSS01

Newsday: Paterson to name Clinton successor after inauguration

2009-01-17T19:57:00.001-08:00

He is known to have interviewed about 15 potential senators, including Caroline Kennedy, Nassau County Executive Thomas Suozzi, Rep. Steve Israel (D-Huntington), Rep. Kirsten Gillibrand (D-Hudson), Assemb. Daniel O'Donnell (D-Manhattan), and Maloney.

.... Crain's New Yorkeditorial touting Maloney, and Marcia Pappas, president of the state chapter of the National Organization for Women, was on hand.

Asked if she was disappointed in polls showing that voters strongly favor Cuomo and Kennedy, Maloney said, "Cuomo and Kennedy are very recognizable names from their family connections, the service of their fathers and others. Maloney is not a well-known name. My father was not a rich and famous person. I'm a hardworking woman."

.... Cuomo faked radio static when asked on TALK 1300 AM if he was interested in the Senate job. "I'm sorry we have a bad connection," he said.

http://www.newsday.com/services/newspaper/printedition/saturday/news/ny-stsena176001852jan17,0,4279201.story

The Hill - Pelosi Riles Committee Chairmen

2009-01-16T18:45:00.000-08:00

Panel chairmen fighting mad over snubs by Pelosi
By Jared Allen
Posted: 01/15/09 07:44 PM [ET]

Senior House Democrats have a message for their Speaker: We’re mad as hell, and we’re only taking it this one last time.

As congressional Democrats take the lead in responding to the sinking economy, subcommittee and even some full-committee chairmen — who normally wield significant influence in writing legislation — have been forced to wait on the sidelines as monumental bills are written in Speaker Nancy Pelosi’s (D-Calif.) office.

That often leaves room for cursory input from lawmakers who have carved out expert niches for themselves...

Full Article at: http://thehill.com/leading-the-news/panel-chairmen-fighting-mad-over-snubs-by-pelosi-2009-01-15.html

Wash. Post - Volcker Rides to the Rescue

2009-01-16T06:08:00.000-08:00

Obama Adviser Urges More Rigorous Global Financial Regulation

Paul Volcker was the lead author on a report calling for a restructuring of the global financial system. (By Mark Lennihan -- Associated Press)

By Anthony Faiola
Washington Post Staff Writer
Friday, January 16, 2009; Page D01

NEW YORK, Jan. 15 -- A top economic adviser to the incoming Obama administration unveiled a plan Thursday to radically rethink the global financial system, including measures that would dramatically expand government control over banking and investment in the United States...

Full Article at:http://www.washingtonpost.com/wp-dyn/content/article/2009/01/15/AR2009011501715.html

The Hill: Signs of Congressional Pique?

2009-01-15T06:14:00.000-08:00

Leading The News
Obama irks panel heads with silence
By Alexander Bolton
Posted: 01/14/09 08:05 PM [ET]

President-elect Obama’s evident distrust in sharing with Congress sensitive information about the internal workings of his administration has begun to irk Democratic committee chairmen.
Obama and his top advisers took pride in running a leak-free campaign for president and since the election have kept tight controls on information...

Full Article at: http://thehill.com/leading-the-news/obama-irks-panel-heads-with-silence-2009-01-14.html

radionetherlands: Hillary Clinton sets out her ideas in Senate

2009-01-14T21:06:00.000-08:00

To wield "smart power" in foreign policy

by Michael Blass 14-01-2009

Hillary Clinton has set out her ideas on the future shape of United States foreign policy. She said it would be draw on "principles and pragmatism, not rigid ideology", with decision-making based on "on facts and evidence, not emotions or prejudice".

....

Ms Clinton said she planned to use a broad mix of diplomatic, political, military, legal and cultural tools in an approach to foreign relations she described as "smart power", stressing that the use of military force would be an option, though only as a last resort.

....

Marking a major break with George W. Bush's policy, Mrs Clinton confirmed that the US would finally be throwing itself into the fight against global warming.

http://www.radionetherlands.nl/news/international/6133598-Hillary-Clinton-sets

wsj: IMF Informed Geithner on Taxes

2009-01-14T19:47:00.000-08:00

Senate Delays Treasury Nominee's Hearing Till Jan. 21

It’s possible some of Mr. Geithner’s problems stemmed from bad advice. In 2004, an accountant advised Mr. Geithner in writing that he did not owe employment taxes. An accountant who reviewed Mr. Geithner’s 2001 tax return also didn’t inform Mr. Geithner he owed taxes, according to an Obama aide familiar with the situation.
[....]
Tax professionals noted that even trained preparers sometimes miss the subtleties involved in taxation of employees of international organizations.The IRS in late 2006 launched a settlement initiative aimed at noncompliant employees of foreign embassies, as well as international organizations such as the IMF. At the time, the IRS said as many as half of affected employees were out of compliance with tax rules in one way or another.Much more at:

http://online.wsj.com/article/SB123194884833281695.html

yahoo: Obama would spend bailout funds on housing crisis

2009-01-14T19:07:00.001-08:00

Senate Minority Leader Mitch McConnell, R-Ky., said Summers and Rahm “did not represent they are in favor of industrial policy.” [....] In the House, Financial Services Committee Chairman Barney Frank, D-Mass., said Summers assured him that Obama would commit a significant portion of the bailout money to foreclosure relief. [....] One major provision would require that the new administration spend between $40 billion and $100 billion on reducing the number of foreclosures.“ [....] Summers this week submitted a three-page letter to congressional leaders as part of Obama’s request for the money that outlined the Obama economic team’s goals.

news.yahoo.com/s/ap/20090115/ap_on_go_co/obama_bailout

Politico: Signs of Reluctance on TARP Bailout

2009-01-14T07:54:00.000-08:00

Obama presses Dems on bailout funds
By: Lisa Lerer and Victoria McGrane
January 13, 2009 04:18 PM EST

President-elect Barack Obama assured Senate Democrats that he would impose greater conditions over the second installment of the $700 billion economic fund in a Tuesday meeting on Capitol Hill. Obama met with Senate Democrats on Tuesday to shore up support for releasing the next $350 billion. Senate Majority Leader Harry Reid (D-Nev.) plans a vote as early as Thursday, leaving little time to attach many specific conditions to the money...

Full Article at: http://www.politico.com/news/stories/0109/17401.html

LAT: Retooling Obama’s campaign machine for the long haul

2009-01-14T06:30:00.000-08:00

By Peter Wallsten

The vast network that helped elect Obama will be tapped to lobby lawmakers on behalf of the president, with an eye toward reelection. A service organization as a nonprofit arm is also considered. ....

The organization, known internally as “Barack Obama 2.0,” is being designed to sustain a grass-roots network of millions that was mobilized last year to elect Obama and now is widely considered the country’s most potent political machine.

[ From a much longer article. - MN ]

wsj: [ re questions about Geithner ]

2009-01-13T19:07:00.000-08:00

Mr. Geithner employed a housekeeper whose immigration papers expired during her tenure with Mr. Geithner, currently president of the Federal Reserve Bank of New York. The woman went on to get a green card to work legally in the country and federal immigration authorities didn’t press charges against her, these people said.

The second issue involved taxes due while Mr. Geithner worked for the International Monetary Fund between 2001 and 2004. As an employee, Mr. Geithner was technically considered self-employed and was required to pay Social Security and Medicare taxes for himself as both an employer and an employee.

More at: http://online.wsj.com/article/SB123187503629378119.htm

Clinton Seeks Mix of Diplomacy, Defense

2009-01-13T18:52:00.000-08:00

By PATRICK YOEST

WASHINGTON — Sen. Hillary Clinton called for the use of “smart power” in her bid to become the next secretary of state, arguing Tuesday that the U.S. should engage hostile powers such as Iran and Syria and pursue partnerships with China and Russia. ....

On climate change, Sen. Clinton pointed to the upcoming U.N. Copenhagen Climate Conference as an opportunity to “lead abroad through participation.”

“We can lead at home,” Sen. Clinton said, “by pursuing an energy policy that reduces our carbon emissions while reducing our dependence on foreign oil and gas — which will benefit the fight against climate change and enhance our economy and security.”

Gallup: Senate Hearings Begin, Hillary Clinton's Image Soars

2009-01-13T18:31:00.000-08:00

A new Gallup Poll finds 65% of Americans saying they have a favorable opinion of Hillary Clinton, the highest rating for her in almost 10 years. ....

Since late 1999, Hillary Clinton’s favorable ratings have been around 50%, ranging from a low of 44% in March 2001 to a high of 58% in February 2007. ....

Interestingly, she has made nearly equal gains among Republicans (+12 points), independents (+9), and Democrats (+13), though Democrats continue to view her much more positively than Republicans.

More at: http://www.gallup.com/poll/113740/Senate-Hearings-Begin-Hillary-Clintons-Image-Soars.aspx

FT: World Awaits Clinton Doctrine.

2009-01-12T17:38:00.000-08:00

Hillary Clinton is to break the Obama team’s near- silence on the fighting in Gaza next week when she sets out her thinking on the Middle East and beyond.

During the past 10 years, the prospective secretary of state has marked herself out as a dependable ally of Israel. Last year, at the annual conference of Aipac, the pro-Israel group, she said she rejected negotiating with Hamas while it refused to recognise Israel.
Now, with fighting raging in Gaza, the world will be keenly watching her confirmation hearing on Tuesday for insights into her stance towards the region. Since Israel launched its attack two weeks ago other countries have taken the lead in seeking a ceasefire, while Barack Obama, the president-elect who takes office on January 20, has limited himself to vague generalities on the conflict.

http://www.ft.com/cms/s/0/28d13552-dede-11dd-9464-000077b07658.

Financial Times - Obama and Gitmo

2009-01-12T08:27:00.000-08:00

Obama pledges early focus on Middle East

By Daniel Dombey in Washington

Published: January 11 2009

President-elect Barack Obama on Sunday promised to focus on Middle East peace from the start of his administration and to treat Iran with “respect” as he set out his foreign policy thinking in greater detail than before. But, in remarks that may prove disappointing to some of his supporters, he also warned that it would be a “challenge” to close the detention centre at Guantanamo Bay within 100 days of taking office...

Full Article at:http://www.ft.com/cms/s/0/14938624-dfee-11dd-9ee9-000077b07658.html?nclick_check=1

New Republic - Obama Stimulus Plan Not Enough

2009-01-11T17:31:00.000-08:00

(A detailed and excellent discussion about the Stimulus Plan which includes sensible suggestions about investment in the American Economy - like High Speed Rail...)

Not Doing Enough

Why I worry that Obama doesn't realize just how bad things are.

John B. Judis, The New Republic Published: Friday, January 09, 2009

Does Barack Obama understand the seriousness of the economic crisis? Yesterday, he laid out his economic agenda, and it was filled with all sorts of important exhortations and proscriptions. He appropriately condemned the "anything goes" policies of the last administration. He declared that government is now the solution to our woes, not the problem. Still, I worry that the president elect is underestimating the problem he and the country faces...

Full Article at:http://www.tnr.com/politics/story.html?id=611d21dd-edb6-45f8-802c-568e35493234

Newsweek - Obama's Cheney Dilemma

2009-01-11T17:11:00.000-08:00

Newsweek
Obama’s Cheney Dilemma

Cheney pushed for expanded presidential powers. Now that he's leaving, what will come of his efforts? The new president won't have to wait long to tip his hand.
Stuart Taylor Jr. and Evan Thomas

From the magazine issue dated Jan 19, 2009

Dick Cheney, who will step down as vice president on Jan. 20, has been widely portrayed as a creature of the dark side, a monstrous figure who trampled on the Constitution to wage war against all foes, real and imagined. Barack Obama was elected partly to cleanse the temple of the Bush-Cheney stain, and in his campaign speeches he promised to reverse Cheney's efforts to seize power for the White House in the war on terror...

Full Article at: http://www.newsweek.com/id/178855/page/1

Yahoo/AP: IL SC: Burris' appt already valid

2009-01-09T15:22:00.000-08:00

CHICAGO – The Illinois Supreme Court says Secretary of State Jesse White doesn’t need to sign Roland Burris’ appointment to the U.S. Senate to make it valid.

The ruling says no Illinois official has to do anything further to validate the appointment made by Gov. Rod Blagojevich.

Bloomberg: Obama, Clinton Plan to Retrieve Ex-Envoys, Keep Bush Official

2009-01-09T08:59:00.000-08:00

By Viola Gienger and Indira A.R. Lakshmanan

Jan. 9 (Bloomberg) — President-elect Barack Obama and his designated secretary of state, Hillary Clinton, will pull veteran [Clintion administration] negotiators back into the ranks and keep at least two top Bush administration officials as they prepare to confront conflicts in Afghanistan and the Middle East.

Buffalo News: Paterson notes Kennedy's 'lack of elected experience'

2009-01-09T02:25:00.000-08:00

"The notion that I have to take Caroline is not coming from me," Paterson said in an interview in his Capitol office with The Buffalo News. He said "gossip" has become a "greater force right now than my decision."

"[T]o the media, it's Caroline and the others. To me, it's there are 10 to 15 good candidates," said the governor [....]

"One thing that helps her is the tremendous attention that [the media gives] her works to her advantage. Maybe if [the media] didn't give her so much attention she wouldn't have it," Paterson said. He said certain people, such as Clinton, have an advantage "just because of who they are."

"So I would ask the question back, why [does the media] pay so much attention to her? She's just another person. So what? Her name is Kennedy? Why do you pay so much attention to her? I'm not reacting to what I think, I'm reacting to what I see," he said.

"But, on the other hand, her lack of elected experience does not help her, but the point is it's the combination of experiences I'll look at in terms of all the candidates, and also how balanced the ticket would look," Paterson added.

More on other candidates at the full story at:

http://www.buffalonews.com/home/story/543453.html

Washington Monthly -Failure Quantified

2009-01-08T10:55:00.000-08:00

FAILURE QUANTIFIED.... MSNBC ran an interesting "Then and Now" feature yesterday, comparing the current state of various benchmarks to where they were when Bush took office (via Ezra). It's worth taking a look at, but it's only part of the picture. Some of the more notable numbers:

UNEMPLOYMENT RATE
Then: 4.2% (Bureau of Labor Statistics, January 2001)
Now: 6.7% (Bureau of Labor Statistics, November 2008)

DOW JONES INDUSTRIAL AVERAGE
Then: 10,587 (close of Friday, Jan. 19, 2001)
Now: 9,015 (close of Tuesday, Jan. 6, 2009)

CONSUMER CONFIDENCE (1985=100)
Then: 115.7 (Conference Board, January 2001)
Now: 38.0, which is an all-time low (Conference Board, December 2008)

FAMILIES LIVING IN POVERTY
Then: 6.4 million (Census numbers for 2000)
Now: 7.6 million (Census numbers for 2007 -- most recent numbers available)

AMERICANS WITHOUT HEALTH INSURANCE
Then: 39.8 million (Census numbers for 2000)
Now: 45.7 million (Census numbers for 2007 -- most recent available)

U.S. BUDGET
Then: +236.2 billion (2000, Congressional Budget Office)
Now: -$1.2 trillion (projected figure for 2009, Congressional Budget Office)

Of course, some of the metrics, most notably the Dow, may look even worse when Bush officially leaves office. He still has 11 days.

But as painful as it is to see, as Ezra put it, "the good numbers go down and the bad numbers go up," I'd just add that the depressing statistics can capture only so much.

It's hard to quantify, for example, the devastating effects of Bush's foreign policy, his assaults on constitutional norms, his far-right judicial appointees, his environmental negligence, his politicization of the entire executive branch, etc.

The numbers, to be sure, are bleak. But I'm afraid Bush's failures exceed statistical evaluation.
—Steve Benen

NY Times - Economists Agree on Government Spending

2009-01-08T05:25:00.000-08:00

January 8, 2009

A Crisis Trumps Constraint
By EDMUND L. ANDREWS

WASHINGTON — As the ranking Democrat and then chairman of the House Budget Committee, Representative John M. Spratt Jr. of South Carolina accused President Bush for eight years of recklessly running up huge fiscal deficits.

But by noon on Wednesday, after listening for two hours as economists explained why it was crucial to run a large deficit — one that would triple the previous record and vault far above $1 trillion — Mr. Spratt looked shell-shocked...

Full Article at: http://www.nytimes.com/2009/01/08/business/economy/08fiscal.html?_r=1&th&emc=th

dailybeast: The Truth About Rick Warren's AIDS in Africa Work - GOOD INFO

2009-01-08T02:52:00.001-08:00

Team Obama likes to cite Warren's work on AIDS in Africa to combat criticism about the controversial pastor. But how does burning condoms in the name of Jesus save lives?

[ A long, serious, well-researched, and very informative article. - tdo ]

http://www.thedailybeast.com/blogs-and-stories/2009-01-07/the-truth-about-rick-warren-in-africa/1/

The Hill - Democrats Set New Congress Rules

2009-01-07T10:25:00.000-08:00

Democrats push through new rules package
By Molly K. Hooper
Posted: 01/06/09 08:29 PM [ET]

House Republicans Tuesday lost their fight to retain the minority’s ability to force potentially embarrassing floor votes when the lower chamber voted 242-181 to pass the rules package for the 111th Congress.

Most Democrats supported the power consolidating package with the exception of six members who crossed the aisle. Reps. Ed Pastor (Ariz.), Brian Baird (Wash.), Maxine Waters (Calif.), Lynn Woolsey (Calif.), Michael Michaud (Maine) and Walt Minnick (Idaho) opposed the rules changes...

Full Article at: http://thehill.com/leading-the-news/democrats-push-through-new-rules-package-2009-01-06.html

NY Times - New Voices in Congress

2009-01-07T10:09:00.000-08:00

The New York Times

January 7, 2009
New Voices in Congress Will Change the Tone of the Democratic Majority
By KATE PHILLIPS

WASHINGTON -- From a former Nixon aide to a former head of Common Cause, a liberal government watchdog organization, the freshman House class of the 111th Congress represents a diverse but decidedly moderate group.

At age 66, the oldest two — Walt Minnick of Idaho, the Nixon aide who is now a Democrat, and Parker Griffith of Alabama – have birthdays about a month apart; the youngest, Aaron Schock of Illinois, is 27. Some have no government experience at all; others like Pete Olson – who returned Tom DeLay’s congressional seat to the Republicans this cycle – worked for the veteran Senator John Cornyn of Texas...

Full Article at: http://www.nytimes.com/2009/01/07/us/politics/07frosh.html?_r=1&th&emc=th

Wall Street Journal - SEC Can Prevent More Madoffs

2009-01-06T17:09:00.000-08:00

* JANUARY 5, 2009

How the SEC Can Prevent More Madoffs
Bolster its risk-assessment and enforcement staff.

By ARTHUR LEVITT JR.

The Bernard Madoff affair is a scandal of epic proportions. It not only has devastated the prominent individuals and institutions who invested in his funds, but it has also further undermined whatever trust investors may have had after this year of bank failures, credit crises, and market meltdowns. The regulatory structure that has been in place for the past eight decades to keep our markets free and fair may no longer be appropriate...

Full article at: http://online.wsj.com/article/SB123111989471152931.html

CBS2 re Burris

2009-01-06T13:18:00.000-08:00

Roland Burris was denied entry to the U.S. Senate Tuesday morning, when the Secretary of the Senate said his credentials were not in order. [snip]

Roosevelt University policy studies professor Paul Green said there is no reason why Burris should not be seated. “One doesn’t know what’s going on, because legally, (Burris is) absolutely correct, and there should not be any debate; there should not be any discussion. Secretary of State White really has no function in this; the statute is clear. The governor makes the selection,” Green said. “I don’t know how you bar somebody from a sovereign state who was legally appointed not to go to the U.S. Senate – which, by the way, is not known for being the home of many vestal virgins – and all of a sudden you have everyone shocked, outraged by this process.”

Well written article continues at: http://cbs2chicago.com/politics/burris.senate.ceremony.2.900848.html

Reuters: Russian gas disruption spreads across Europe

2009-01-06T13:00:00.000-08:00

By Christian Lowe

MOSCOW (Reuters) – Russia sharply cut gas flows to Europe via Ukraine on Tuesday in a dramatic worsening of a pricing dispute with Kiev that threatened to disrupt supplies as far west as Italy and Germany.

[....]

But most larger EU countries say they have large amounts of gas stockpiled after several mild winters, and have access to supplies from sources such as Norway and Algeria.

Long informative article at:

http://news.yahoo.com/s/nm/20090106/ts_nm/us_russia_ukraine_gas

CBS - New Yorkers Sour on Kennedy

2009-01-06T11:25:00.000-08:00

January 6, 2009
New Yorkers Sour On Caroline Kennedy
Posted by Brian Montopoli|

Here's some bad news for Caroline Kennedy, who hopes to be appointed to Hillary Clinton's Senate seat: A Public Policy Polling poll reported by WCBS finds that New Yorkers would rather see Governor David Patterson appoint Andrew Cuomo to the seat.

And the margin is wide: Fifty-eight percent prefer Cuomo in the seat, while just 27 percent want Kennedy.

A month ago, Kennedy led Cuomo by 20 percentage points among Democratic voters. Now she trails by that margin among Democrats.

In related news, Kennedy and at least five other contenders for the Senate seat have been asked to answer a 28-page questionnaire full of questions "about their finances, job history and any criminal record," according to the New York Times.

Because the questionnaires ask for private information – according to the New York Post, they include questions about the applicants' credit histories, medical information and personal debts – they will not be made public.

Kennedy has been criticized for not answering questions about her beliefs and finances. Her spokesman told the Times, "Caroline has consistently said that she will file any financial disclosure that the governor requests of her."

Chicago Sun-Times: Fierce Senate Opposition to Burris

2009-01-02T13:00:00.000-08:00

Senate opposition fiercer than Burris thinks
Burris' trip to Washington on Monday sure to be a media circus

January 2, 2009
BY LYNN SWEET Sun-Times Columnist

WASHINGTON -- Roland Burris does not want to be in the face of the senators whose ranks he hopes to join, I am told. Yet Burris, appointed by the scandalized Gov. Blagojevich to replace President-elect Barack Obama, is expected here Monday. Burris' mere presence to try to claim the seat will, of course, be a spectacle.

He won't get into the chamber because the Senate Democratic leadership doesn't want anyone sent by Blagojevich, accused of trying to sell Obama's seat for a plum job or campaign cash...

Full Article at: http://www.suntimes.com/news/sweet/1358952,CST-NWS-sweet02.article#

Hillbuzz: We don’t see how Harry Reid and Senate Democrats can prevent Roland Burris from becoming a Senator

2009-01-01T12:13:00.000-08:00

[ Midstream News doesn't usually link to blogs and/or opinion. But this item has a very straight-up, non-slanted ... style anyway. - MN ]

Because of this scandal, most of you are hearing about Blagojevich for the very first time. Making millions off a book deal was never an option for him before, because no one knew who he was outside of Illinois. However, the notoriety he is gaining is making him an increasingly more interesting national figure.

From our perspective, doing as many bizarre and outrageous things as possible while exercising full authority as Governor is the best thing Blagojevich can do for his pocketbook. We think the Burris appointment is just the opening volley in what’s going to be an interesting few months from Blagojevich…it’s going to get positively Shakesperean from here on out.

http://hillbuzz.wordpress.com/2009/01/01/we-dont-see-how-harry-reid-and-senate-democrats-can-prevent-roland-burris-from-becoming-a-senator/#comment-30032

McClatchy: Russia Faces Hard Times

2009-01-01T10:51:00.000-08:00

McClatchy Washington Bureau

Posted on Wed, Dec. 31, 2008
Oil wealth gone, Russians brace for hard times
Tom Lasseter | McClatchy Newspapers

MOSCOW — The subway crowd brushed past Alla Semyonova, tromping through the now-gray slush of a December snowfall.
Semyonova held a black knit sweater for sale dangling from a wire hanger in her right hand (1,000 rubles, or about $33) and a blouse with gold flowers in her left hand (500 rubles)...

Full Article at: http://www.mcclatchydc.com/226/story/58806.html

WSJ - Big Chemistry Mulls Bankrupcy

2009-01-01T10:42:00.000-08:00

LyondellBasell Industries, the world's third-largest independent chemical company, told lenders on Monday it is considering filing for bankruptcy protection amid plunging sales and a cash crunch, people familiar with the matter said.

LyondellBasell, which is based in the Netherlands and has large U.S. operations, has hired bankruptcy counsel and told lenders it is trying to line up as much as $2 billion in bankruptcy financing, these people say. A Chapter 11 filing may be imminent, they say.

The chemicals industry has been battered over the past year, first by high prices for oil and natural ...

Full Article at: http://online.wsj.com/article/SB123068310118744141.html?mod=yahoo_hs&ru=yahoo

The Hill - Who Replaces Emanuel?

2009-01-01T10:31:00.000-08:00

Trio emerges as favorites for Emanuel’s seat
By Mike Soraghan
Posted: 01/01/09 10:16 AM [ET]

Three top contenders have emerged for the seat of Rep. Rahm Emanuel, who is leaving Congress Friday.

By some counts, there are as many as 18 people who are at least considering a run, but State Rep. Sara Feigenholtz, Cook County Commissioner Mike Quigley and former Transportation Security Administration official Justin Oberman appear to be the three leading candidates....

Full article at: http://thehill.com/leading-the-news/trio-emerges-as-favorites-for-emanuels-seat-2009-01-01.html

NYT: US Attorney Wants More Time to Indict Blagojevich

2009-01-01T02:59:00.000-08:00

U.S. Attorney Patrick Fitzgerald has filed a motion seeking a 90-day extension to return of an indictment against Illinois Gov. Rod Blagojevich.

Federal prosecutors normally have 30 days to file an indictment against a defendant. That deadline would have been Jan. 7, and the extension would give prosecutors until April 7 instead. [....]

In the motion filed Wednesday, prosecutors ask for more time because ”multiple witnesses” have come forward in recent weeks and investigators have to review”thousands of intercepted phone calls.”

More at: http://www.nytimes.com/aponline/2008/12/31/us/AP-Illinois-Governor-Indictment.html?_r=1

NYT: Republicans Seek Recovery Plan Details

2008-12-31T16:54:00.000-08:00

By CARL HULSE - Published: December 29, 2008

In a coordinated effort, Senator Mitch McConnell of Kentucky and Representative John A. Boehner of Ohio, the Republican leaders of the two chambers, called on Democrats to hold hearings on the emerging legislation and not schedule any votes on the bill until it had had at least a week of public review. [....]

Both he and Mr. Boehner were careful not to say they would oppose a measure that some economists have said is necessary to prevent an even deeper recession.

More at http://www.nytimes.com/2008/12/30/washington/30congress.html?ref=politics

NY Times - Democrats Able To Block Burris?

2008-12-31T06:07:00.000-08:00

Defiant Illinois Governor Names Pick for Obama Seat (December 31, 2008)
Man in the News: Roland W. Burris, a Low-Key Groundbreaker (December 31, 2008)

But that declaration has touched off questions of whether Democrats have the power to keep out Mr. Blagojevich’s pick, Roland Burris, a former state attorney general. It is likely that the issue will end up in court.

Democrats said they were confident of their standing under Article I, Section 5 of the Constitution, which says “each House shall be the Judge of the Elections, Returns and Qualifications of its own members.” On rare occasion, the Senate has denied seats to candidates whose election outcome was in doubt or who were caught up in corruption.

Full article at: http://www.nytimes.com/2008/12/31/washington/31congress.html?th&emc=th

Bloomberg - Metro Home Prices Decline in October

2008-12-30T09:27:00.000-08:00

October Home Prices in 20 U.S. Metro Areas Fall 18%
By Bob Willis

Dec. 30 (Bloomberg) -- Home prices in 20 major U.S. cities declined at the fastest rate on record, depressed by mounting foreclosures and slumping sales.

The S&P/Case-Shiller index declined 18 percent in the 12 months to October, more than forecast, after dropping 17.4 percent in September. The gauge has fallen every month since January 2007. Year-over-year records began in 2001...

Full article at:

http://www.bloomberg.com/apps/news?pid=20601087&sid=aquICb64DYOc&refer=home#

Gallup: Obama, Hillary Clinton [and Palin] Share “Most Admired” Billing

2008-12-30T02:59:00.000-08:00

[....]

This is the seventh consecutive year that Hillary Clinton has secured top billing as Americans' Most Admired Woman -- and the 13th year she has made the top ten since her first appearance on the list in 1993. The 20% naming Clinton this year is comparable to what she received in 2007 (18%), but falls short of the 28% naming her in 1998.

[....] Palin, McCain's 2008 vice presidential pick and the first woman ever to run on a Republican presidential ticket, makes a strong second place debut, named by 11% of Americans. Her entrance on the list crowds Oprah Winfrey out of second place, a position she held each year from 2002 through 2007. Winfrey now ranks third [....]

http://www.gallup.com/poll/113572/Obama-Hillary-Clinton-Share-Most-Admired-Billing.aspx

UK Times: Caroline Kennedy botches debut interview [ 2 other UK stories ]

2008-12-29T23:42:00.000-08:00

Asked to justify her candidacy – after days spent with handlers advising her on how to fill Hillary Clinton's vacant New York Senate seat – she began in a dull monotone: "Um, this is a fairly unique moment both in our, you know, in our country's history, and, and in, in, you know, my own life, and um, you know, we are facing, you know, unbelievable challenges, our economy, you know, healthcare, people are losing their jobs here in New York obviously um, arh, you know. . . "

http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5416006.ece
For the comment box, click 'have your say' near the bottom of the page. No login required.
See also: http://www.timesonline.co.uk/tol/news/world/us_and_americas/article5355291.ece
Clinton camp derides Caroline Kennedy's bid for US Senate seat
and http://timesonline.typepad.com/comment/2008/12/the-idea-that-c.html
The real problem with Caroline Kennedy and the Senate

NY Times - The Price of Printing Money

2008-12-28T18:44:00.000-08:00

The New York Times

Debt Sweat
Printing Money – and Its Price
By PETER S. GOODMAN

Borrowing and spending beyond ordinary limits largely explains how Americans got into such economic trouble. For decades, businesses and consumers feasted relentlessly, as if gravity, arithmetic and the tyranny of debt had been defanged by financial engineering.

Armed with credit cards and belief in a bountiful future, Americans brought home ceaseless volumes of iPods and cashmere sweaters, and never mind their declining incomes and winnowing savings. Banks lent staggering sums of money to homeowners with dubious credit, convinced that real estate prices could only go up. Government spent as it saw fit, secure that foreigners could always be counted on to finance American debt...

Full article at: http://www.nytimes.com/2008/12/28/weekinreview/28goodman.html?ref=weekinreview

BBC: Iranians join Bush shoe protest

2008-12-26T12:22:00.000-08:00

Iranians join Bush shoe protest

By Martin Vennard

BBC News

[....] Dozens of Iranians in the country's capital Tehran have held their own shoe-throwing rally in protest at US President George W Bush.

[....] The protesters waved their shoes in the air before throwing them at posters featuring caricatures of Mr Bush.

[....] A similar demonstration took place at a university in Iran's Isfahan province on Thursday and there have been other such protests across the region.

[....] Iraqis have called for the release of the journalist.

[....] Since then a Turkish firm, which claims it made the shoes, says it has had to take on 100 extra staff to cope with the surge in orders.

More at http://news.bbc.co.uk/2/hi/middle_east/7800453.stm

Links to related stories at the BBC site.

IHT - more on Obama questioned re Blago

2008-12-26T10:26:00.000-08:00

Obama was interviewed on Dec. 18 at his Chicago transition office by two assistant U.S. attorneys and two agents from the FBI looking into alleged attempts by Governor Rod Blagojevich of Illinois to profit from his appointment of Obama’s successor to the Senate. Obama was accompanied by his personal lawyer, Robert Bauer, and an associate, but not by Gregory Craig, who has been designated the new White House counsel, Obama advisers said.

The U.S. attorney in Chicago, Patrick Fitzgerald, who is leading the investigation into Blagojevich, did not attend. The two-hour interview was not recorded or conducted under oath, although one FBI agent and Bauer’s associate took copious notes, and it is a felony to lie to federal investigators even without being sworn in.

More at http://w w w . i h t . c o m / articles/2008/12/25/americas/26memo-396233.php?page=1

NY Times- American Dollars Flee to ChIna

2008-12-26T07:15:00.000-08:00

The New York Times
December 26, 2008
The Reckoning
Chinese Savings Helped Inflate American Bubble
By MARK LANDLER

“Usually it’s the rich country lending to the poor. This time, it’s the poor country lending to the rich.”

— Niall Ferguson

WASHINGTON — In March 2005, a low-key Princeton economist who had become a Federal Reserve governor coined a novel theory to explain the growing tendency of Americans to borrow from foreigners, particularly the Chinese, to finance their heavy spending...

Full article at: http://www.nytimes.com/2008/12/26/world/asia/26addiction.html?th&emc=th

AP - Blago Lawyer Seeks Subpoenas

2008-12-26T06:46:00.000-08:00

Ill. gov guns for Barack Obama team testimony
By Associated Press | Friday, December 26, 2008

CHICAGO - In a move to force public testimony from President-elect Barack Obama’s inner circle, a lawyer for Gov. Rod Blagojevich has asked the legislative panel considering impeachment of the governor to subpoena more than a dozen witnesses, including Obama’s incoming chief of staff.
U.S. Attorney Patrick Fitzgerald said this week that lawmakers’ interviews of current or former members of Blagojevich’s staff might jeopardize his criminal probe...

Article URL: http://www.bostonherald.com/news/us_politics/view.bg?articleid=1141294

The HILL - Fissures in Democratic Unity?

2008-12-25T05:47:00.000-08:00

The Hill
Democratic unity starts to show cracks
By Alexander Bolton
Posted: 12/24/08 04:53 PM [ET]

Democrats head into 2009 with sky-high expectations but points of intra-party friction are already starting to show a month before President-elect Obama’s inauguration, forecasting bigger fights next year.

Veteran Democrats say the party has become more split along parochial interests since Democrats last controlled majorities as large as they will in the 111th Congress...

Full article at: http://thehill.com/campaign-2008/cracks-start-showing-under-faade-of-democratic-unity-2008-12-24.html

From United Nations Foundation 12/24/08

2008-12-24T13:34:00.000-08:00

ENVIRONMENTAL GROUPS, SCIENTISTS CHEER OBAMA APPOINTMENTS

December 16, 2008

NEAR-PARALYSIS AT UN CLIMATE TALKS ENDS WITH VOW FOR NEW TREATY

December 15, 2008

STATEMENT BY REID DETCHON, EXECUTIVE DIRECTOR OF THE ENERGY FUTURE COALITION ON PRESIDENT-ELECT BARACK OBAMA’S NOMINATIONS TO HEAD TOP ENERGY, CLIMATE AND ENVIRONMENT POSITIONS.

December 15, 2008

THE MALARIA VACCINE EXPLAINED

December 11, 2008

AP: Obama Questioned re Blago.

2008-12-24T07:23:00.001-08:00

Obama had to answer investigators' questions
By NEDRA PICKLER and BRETT J. BLACKLEDGE

With his own lawyer by his side, Obama sat down Thursday with U.S. Attorney Patrick Fitzgerald's staff to tell what, if anything, he knew about Gov. Rod Blagojevich's efforts to cash in on appointing Obama's Senate successor....

Full article at: http://apnews.myway.com/article/20081224/D958OMEO0.html

Wash Times: Obama Retains Bush War Team

2008-12-24T07:18:00.001-08:00

Obama wants Bush war team to stay
Bill Gertz

Defense Secretary Robert M. Gates has asked most Bush administration political appointees except those targeted for dismissal to stay on in the Pentagon until replaced by the Obama administration in the coming months. [....] The identity of the dismissed officials could not be learned.

Full article at: http://washingtontimes.com/news/2008/dec/22/obama-wants-bush-war-team-stay/

NYT: Resistence to Kennedy Among Democrats

2008-12-24T07:11:00.000-08:00

Resistance to Kennedy Grows Among Democrats
By NICHOLAS CONFESSORE

ALBANY — Resistance is emerging among Democratic officials against Caroline Kennedy as she pursues Hillary Rodham Clinton’s seat in the United States Senate, with Gov. David A. Paterson bristling over suggestions that her selection is inevitable, according to his advisers, and other leading Democrats concerned that she is too beholden to Mayor Michael R. Bloomberg.

The governor is frustrated and chagrined, the advisers said, because he believes that he extended Ms. Kennedy the chance to demonstrate her qualifications but that her operatives have exploited the opportunity to convey a sense that she is all but appointed already. He views this as an attempt to box him in, the advisers said...

More at: http://www.nytimes.com/2008/12/24/nyregion/24kennedy.html?_r=1&th&emc=th

Intnl HT: Clinton moves to bolster role of U.S. State Department

2008-12-23T02:21:00.000-08:00

By Mark Landler and Helene Cooper -- Published: December 23, 2008

Even before taking office, Hillary Rodham Clinton is seeking to build a more powerful State Department, with a bigger budget, high-profile special envoys to trouble spots and an expanded role in dealing with global economic issues at a time of crisis.
[....] For years, some Pentagon officials have complained that jobs like the economic reconstruction in Afghanistan and Iraq have been added to the military's burden when they could have been handled by a robust Foreign Service.[....] Clinton's push for a more vigorous economic team, one of her advisers said, stems from her conviction that the State Department needs to play a part in the recovery from the global financial crisis.

More at: http://www.iht.com/articles/2008/12/23/america/23diplo.php

International Herald Tribune -- Global Edition of the NYT

The Hill: Analysis: No Clear Path for Kennedy

2008-12-22T20:25:00.000-08:00

[....]
Paterson could avoid stepping between the two powerful families [Kennedy and Cuomo] by appointing someone else. Reps. Steve Israel (D-N.Y.), Carolyn Maloney (D-N.Y.) and Kirsten Gillibrand (D-N.Y.) are said to be on Paterson's short list, as is Buffalo Mayor Byron Brown (D).
[....]Former Rep. Geraldine Ferraro (D-N.Y.) wrote Paterson urging him not to appoint Kennedy to the seat.
[....]
Those following the race have taken Cuomo’s unusual silence about the contest as evidence of his interest in the seat. Cuomo, son of former Gov. Mario Cuomo and President Clinton’s secretary of Housing and Urban Development, would bring a wealth of experience in both New York and Washington, backers say. The one-term attorney general has also expressed interest in running for the governor’s mansion, and an appointment by Paterson would eliminate a potential rival in 2010.

http://thehill.com/leading-the-news/analysis-kennedy-doesnt-have-clear-path-to-clintons-seat-2008-12-22.html

SPECIAL OLDIE: Palin on Bears - Jan 2008

2008-12-21T11:42:00.000-08:00

[....] The [Endangered Species Act] worked as it should — under its protection the population of the geese rebounded so much that they were taken off the list of endangered and threatened species in 2001.

Listing the goose — then taking it off — was based on science. The possible listing of a healthy species like the polar bear would be based on uncertain modeling of possible effects. This is simply not justified.

What is justified is worldwide concern over the proven effects of climate change. [....]

Sarah Palin, Jan 2008, from her long article at http://www.nytimes.com/2008/01/05/opinion/05palin.html?_r=1

New Intelligence Chief?

2008-12-21T06:35:00.000-08:00

The New York Times
December 21, 2008
Likely Pick for Intelligence Chief Would Face Task of Corralling Fractious Agencies
By MARK MAZZETTI

President-elect Barack Obama’s expected appointment of Dennis C. Blair as director of national intelligence would put Mr. Blair, a retired admiral, in the position of riding herd over 16 often-fractious intelligence agencies and streamlining an office many in Congress have criticized for bureaucratic bloat...

Full article at: http://www.nytimes.com/2008/12/21/us/politics/21intel.html?_r=1&th&emc=th

Blago Admires Nixon

2008-12-20T18:19:00.000-08:00

*

Friday, Dec. 19, 2008
In Blago's Defiance, Echoes of an Idol, Richard Nixon
By Eric Ferkenhoff / Chicago and Howard Chua-Eoan

Defiant or recklessly stubborn, Illinois Governor Rod Blagojevich on Friday vowed that he would not resign or temporarily step aside, saying he owed it to the voters of the state to remain in office despite polls showing some 80% want him out. "I will fight, I will fight, I will fight until I take my last breath," Blagojevich said to a packed news conference in Chicago's Loop. It was the first formal statement Blagojevich had made since being charged last week with trying to auction off President-Elect Barack Obama's Senate seat, among other alleged offenses...

Full article at :http://www.time.com/time/politics/article/0,8599,1868021,00.html

Alaska Journal: Palin proposes 7 percent spending decrease for FY 2010

2008-12-20T15:20:00.000-08:00

JUNEAU, Alaska (AP) - With oil prices falling, Gov. Sarah Palin is asking state department heads for restrained spending.

Palin on Dec. 15 proposed a 7 percent spending decrease in the operating and capital budgets for the next fiscal year, which begins July 1.

More at: http://www.alaskajournal.com/stories/122108/hom_20081221008.shtml

Newsday: Auto Bailout at $17.4B

2008-12-19T17:57:00.000-08:00

With $17.4B, automakers must try to get back on the road

With a three-month grace period, now comes the hard part for General Motors and Chrysler.

The $17.4 billion in emergency loans granted Friday by President George W. Bush won't solve their problems - nor were they intended to - but will buy them three more months to prove that they can be viable businesses again...

Full article at: http://www.newsday.com/services/newspaper/printedition/saturday/business/ny-bzmain2012290842dec20,0,1117090.story

NY Daily: Caroline Hasn't Voted Much

2008-12-19T12:34:00.000-08:00

Records show Caroline Kennedy failed to cast her vote many times since 1988

Caroline Kennedy ... hasn't voted much here since she registered in 1988. She wants to be the next senator from New York, but her voting record is already spotty, the Daily News has found.

City Board of Elections records show Kennedy has failed to vote in many elections since she registered in the city in 1988 - including votes for the Senate seat she hopes to fill and numerous Democratic faceoffs for mayor.

Full Article at: http://www.nydailynews.com/news/politics/2008/12/18/2008-12-18_records_show_caroline_kennedy_failed_to_.html

FT: Blagojevich Won't Name Senator

2008-12-19T12:25:00.000-08:00

Blagojevich will not fill Senate vacancy

Rod Blagojevich, the governor of Illinois accused of trying to sell Barack Obama’s vacant Senate seat, will not use his constitutional powers to appoint anyone to replace the president-elect, his lawyer said on Wednesday...

Full article at: http://www.ft.com/cms/s/0/484e1794-cc8f-11dd-acbd-000077b07658.html

[Financial Times]

NYT/Krugman: The Madoff Economy: A Financial System That is Dangerous

2008-12-19T12:15:00.000-08:00

The revelation that Bernard Madoff — brilliant investor (or so almost everyone thought), philanthropist, pillar of the community — was a phony has shocked the world, and understandably so. The scale of his alleged $50 billion Ponzi scheme is hard to comprehend.
Yet surely I’m not the only person to ask the obvious question: How different, really, is Mr. Madoff’s tale from the story of the investment industry as a whole?...

[ An opinion, to be sure, but one that is widely shared.. MN ]

Full article at: http://www.nytimes.com/2008/12/19/opinion/19krugman.html?th&emc=th

ABC: Federal probe complicates move to impeach Blagojevich; bribe case may be off-limits

2008-12-18T20:37:00.000-08:00

Illinois lawmakers could be forced to build their impeachment case against Gov. Rod Blagojevich on a raft of relatively small grievances, rather than the blockbuster Senate-seat-for-sale allegations, for fear of undermining federal prosecutors' criminal investigation.

....

Aside from the federal charges, lawmakers have mentioned several issues that could be part of an impeachment case:

[ See the long informative article for these issues and other good material. - MN ]

http://abcnews.go.com/US/wireStory?id=6486259

WSJ op-ed: Madoff Exploited the Jews

2008-12-18T18:19:00.000-08:00

The SEC's failure to pursue complaints about Mr. Madoff over the past decade wasn't the result of inadequate regulations but of disbelief that someone so well entrenched in the industry -- a former Nasdaq chairman and SEC adviser -- was capable of committing such a callous crime.

http://online.wsj.com/article/SB122956340954216799.html

ktuu tv: Palin rejects proposed salary increase

2008-12-17T22:29:00.001-08:00

Palin spokesman Bill McAllister said Wednesday that if the Legislature submits legislation for a raise, Palin will not accept the money.

Instead, if the raise is approved, she will subtract the difference from her current salary and donate it to charity or find a way to redirect the funds for the benefit of others, McAllister said.

The comment comes in response to reports Tuesday that the State Officers Compensation Commission is recommending the governor's annual salary be increased from $125,000 to $150,000.

http://www.ktuu.com/Global/story.asp?S=9540766

Post-Standard: Caroline Kennedy meets with Syracuse mayor [transcript of refusing to talk to reporters]

2008-12-17T19:45:00.001-08:00

[ Transcript of Caroline Kennedy to c. 20 reporters. ]

"I just wanted to say, as some of you may have
heard, I've told Gov. Paterson that I'd be honored to be considered
for the position of United States senator. I wanted to come upstate
and meet with Mayor Driscoll and others to tell them about my
experience and also to learn more about how Washington can help these
communities," Kennedy told reporters. "There's a lot of good people,
candidates, that the governor is considering. He's laid out a process.
I'm proud to be in that process."

"What do you say to New Yorkers who think you're not qualified?" a
newspaper reporter asked.

She ignored the question and started to leave.
"Are you ready for this, Ms. Kennedy? You're not going to answer
questions at all?" reporters yelled.

"Where are you heading next?" a television reporter asked.

"To the car," Kennedy said.

"What do you say to New Yorkers who think you're not ready or
qualified for this job?"

"Have you ever been to Syracuse before?"

"Hopefully I can come back and answer all your questions," Kennedy
said as reporters followed her outside.

"What do you think your greatest qualification is to be senator?" a
reporter persisted.

"You're seeking public office and you don't want to answer questions
from reporters, Ma'am? When can we expect you to answer questions?"
another reporter asked as Kennedy got into the passenger seat of a
black GMC Denali.

She closed the vehicle's door and it pulled away.

[ Story continues with good background. ]

http://www.syracuse.com/news/index.ssf/2008/12/caroline_kennedy_plans_priavte.html
Comment box at the bottom, requires registration.

CNNMoney: Chrysler shuts down all production

2008-12-17T17:50:00.000-08:00

The company ordinarily shuts down operations between Dec. 24 and Jan. 5. This closure would add roughly two weeks to that shutdown. [....] A total of 46,000 employees will be affected. They will be paid during the time off through a combination of state unemployment benefits and Chrysler contributions, but they will not receive the full amount of their working pay, a Chrysler spokesman said. "Chrysler dealers confirmed to the company at a recent meeting at its headquarters, that they have many willing buyers for Chrysler, Jeep and Dodge vehicles but are unable to close the deals, due to lack of financing," the carmaker said in an announcement.

http://caps.fool.com/blogs/viewpost.aspx?bpid=120777&t=02007718965682909770