Who can we trust to fix the crisis in our financial industry?
“You are interviewing the greatest free trader you will ever interview, and the greatest deregulator you will ever interview…”
— Sen. John McCain, May 29, 2007
See, it’s easy for a president to know what to do in response to an economic meltdown if he fervently believes that the correct response is to do nothing at all. And that’s what John McCain believes in. Do you?
President Palin?
Palin admiringly quotes writer who called for Kennedy assassination
With all the hoo-hah over Sarah Palin’s documented desire to ban books from the Wasilla public library, and her vindictive effort to fire a popular city librarian who openly expressed her opposition to mayoral censorship, perhaps we should have been focusing less on the books Palin wanted to ban, and a bit more on the books she actually reads.
As New York Times columnist Frank Rich astutely pointed out on Sunday, Americans should find Palin’s apparent reading list downright scary:
This was made clear in the most chilling passage of Palin’s acceptance speech. Aligning herself with “a young farmer and a haberdasher from Missouri” who “followed an unlikely path to the vice presidency,” she read a quote from an unidentified writer who, she claimed, had praised Truman: “We grow good people in our small towns, with honesty and sincerity and dignity.”
[…] There were several creepy subtexts at work here. The first was the choice of Truman. Most 20th-century vice presidents and presidents in both parties hailed from small towns, but she just happened to alight on a Democrat who ascended to the presidency when an ailing president died in office. Just as striking was the unnamed writer she quoted. He was identified by Thomas Frank in The Wall Street Journal as the now largely forgotten but once powerful right-wing Hearst columnist Westbrook Pegler.
Palin, who lies with ease about her own record, misrepresented Pegler’s too. He decreed America was “done for” after Truman won a full term in 1948. For his part, Truman regarded the columnist as a “guttersnipe,” and with good reason. Pegler was a rabid Joe McCarthyite who loathed F.D.R. and Ike and tirelessly advanced the theory that American Jewish immigrants from Eastern Europe (“geese,” he called them) were all likely Communists.
So… exactly how right-wing was Pegler? As Robert F. Kennedy Jr. points out today on the Huffington Post, so right-wing as to have publicly called for his father’s assassination.
Fascist writer Westbrook Pegler, an avowed racist who Sarah Palin approvingly quoted in her acceptance speech for the moral superiority of small town values, expressed his fervent hope about my father, Robert F. Kennedy, as he contemplated his own run for the presidency in 1965, that “some white patriot of the Southern tier will spatter his spoonful of brains in public premises before the snow flies.”
When a vice presidential candidate can admiringly quote a fascist, racist, anti-semitic hate-monger like Pegler—in her acceptance speech no less—and America barely bats an eye, it tells you a lot about where our nation is potentially going.
John McCain invented the Blackberry!
They lie about big things. They lie about little things. They forcefully repeat their lies to the faces of reporters even when confronted with irrefutable evidence to the contrary. In fact, it’s gotten so ridiculous that you’ve got to start wondering what the McCain campaign isn’t lying about?
Take for example today’s inexplicable fabulation, in which McCain’s top economics adviser bizarrely pointed to his BlackBerry as evidence of his candidate’s understanding of financial markets:
Asked what work John McCain did as chairman of the Senate Commerce Committee that helped him understand the financial markets, the candidate’s top economic adviser wielded visual evidence: his BlackBerry.
“He did this,” Douglas Holtz-Eakin told reporters this morning, holding up his BlackBerry. “Telecommunications of the United States is a premier innovation in the past 15 years, comes right through the commerce committee so you’re looking at the miracle John McCain helped create and that’s what he did.”
That’s right, John McCain invented the BlackBerry!
Only, of course, he didn’t. It was invented by a Canadian company. McCain doesn’t use BlackBerry. Hell, he doesn’t even use email.
And if this seems like a petty thing to go after the McCain camp on, well A) McCain repeatedly mocked Al Gore during the 2000 campaign for the bogus “I invented the Internet” claim (which Gore never said, but for which there’s actually a kernel of truth); and B) This is just one in a series of shameless lies and distortions that have been emanating from McCain, Palin and their campaign for weeks.
Can we trust McCain or his advisers on anything? For example, McCain surrogates have repeatedly reacted with outrage over accusations that he doesn’t use email, indignantly claiming that injuries incurred as a prisoner of war make it physically impossible for him to use a keyboard.
Really? He can’t even hunt and peck with a single stiff index finger like the majority Internet-savvy seniors his age? So how does his campaign explain the dozens of email exchanges between him and reporters that have been referenced in the New York Times and other publications? Are staffers writing his emails for him? And how do they explain the nimble fingers displayed in this video of McCain handling his cell phone on the floor of the Senate?
I suppose if the 72-year-old McCain would release his complete medical records, like every other nominee in recent years, we might know for sure. But they won’t. Because the McCain/Palin administration promises to be the most opaque since… well… Bush/Cheney.
Honestly… if in the midst of what former Federal Reserve Chairman Alan Greenspan calls the greatest financial crisis in his lifetime, McCain’s top economics adviser has to reach so far into his bag of bullshit as to make the facially ridiculous assertion that John McCain had a role in inventing the BlackBerry, how can we trust anything from any member of the McCain campaign on any issue?
The truth is, we can’t.
UPDATE:
And as it turns out…
Blair Levin, who is currently Managing Director at Stifel Nicolaus and served as [former FCC chair Reed] Hundt’s chief of staff … pointed out that McCain actually voted against the Omnibus Budget Reconciliation Act (OBRA ‘93) that “authorized the spectrum auctions that created the competitive wireless market that gave rise to companies like Research in Motion [the creator of Blackberry].”
Why am I not surprised?
What we really need is an astroturf fee
Score a victory for astroturffing, as Seattle’s grocery bag fee has been put on hold after the so-called “Coalition to Stop the Seattle Bag Tax” managed to get enough signatures to put a city-wide referendum on the ballot. The vote won’t occur until the August, 2009 primary.
Opponents of the fee say the referendum is evidence Seattle’s elected officials have sailed too far ahead of the electorate with their environmental goals.
My ass. A) Getting out in front on an issue is what is commonly referred to in other parts of the country as “leadership,” something voters in our state constantly complain they don’t get, yet hypocritically attack elected officials as arrogant for even daring to try; and B) The referendum’s successful signature drive—financed almost entirely by the much beloved local advocacy group, the American Chemistry Council—is evidence of nothing at all except a well-funded signature drive.
A typical statewide initiative campaign might budget about $500,000 for signature canvassing, and turn in around 300,000 signatures by the deadline; by comparison, the American Chemistry Council spent $180,625 to collect only 22,292 signatures. That’s over $8 per signature, and about five times the typical cost.
All in all, a beautiful illustration of an inititiative and referendum process where money talks and true grassroots, populist advocacy walks around aimlessly at farmers markets and Hemp Fest. The plastic bag industry stood to lose a pretty penny if other cities started following Seattle’s lead, and so they wisely spent 18 million of them to stop this trend before it started.
Given enough money one could get absolutely anything on the ballot. Anything. I guess, if you have the money, that’s your right under the current rules, but it sure ain’t populism, and it’s high time our political and media elite pulled the bags off their heads and stopped revering as sacred an instrument of so-called “direct democracy” that isn’t partcularly direct, or democratic.
Note to righties…
It doesn’t matter how high the capital gains tax is, if there are no capital gains.
I’m just sayin’….
PDC finds BIAW guilty of massive fundraising violations
I guess it’s not surprising that all those lying ads the BIAW has been running about Gov. Gregoire are paid for with illegal contributions. At least that’s the conclusion of the state Public Disclosure Commission which found today that the Building Industry Association of Washington and the Master Builders Association of Snohomish and King Counties have committed multiple “egregious” campaign finance violations, including failure to report at least $1.2 million in political contributions.
In a press release issued after the ruling, attorney Knoll Lowney stated:
“It is now confirmed that the builders were operating a massive illegal fundraising campaign for Dino Rossi. We expect the Attorney General to file a lawsuit against the builders for these serious violations.”
Well… I wouldn’t bet on it. Rob McKenna is a close ally of the BIAW and a major recipient of their ill-gotten largess, so it’s hard to imagine him forcefully going after his buddies in an election year… except maybe as a delaying tactic. I’m guessing the more likely outcome would be a civil suit brought by retired Supreme Court justices Faith Ireland and Robert Utter, who filed the complaint in the first place. They’ve given the AG until September 19th to file a lawsuit, barring which they’ll file their own.
And this may just be the least of the BIAW’s troubles. In a separate lawsuit in Thurston County, BIAW Trust beneficiaries are seeking an injunction to stop the BIAW’s diversion of trust funds for political purposes. A hearing is scheduled for September 26th, and could end up putting a huge hole in the BIAW’s $3.5 million warchest.
Better than Hoover (Part V)
The Dow Jones Industrial Average closed down 504.48 points today, at 10917.51. That’s only 329.92 points higher than where it stood on January 20, 2001, the day George W. Bush took office.
To put that in perspective, had you invested $100 in a DJIA index fund just before Bush took office, it would be worth about $83 today in inflation adjusted dollars.
But, you know, John McCain says “the fundamentals of our economy are strong,” so there’s nothing to worry about.
Open thread
McCain: “the fundamentals of our economy are strong”
That’s John McCain this morning, after a weekend in which investment bank powerhouse Lehman Brothers was forced to declare bankruptcy, while Merrill Lynch was scooped up by Bank of America in a fire sale. Meanwhile, locals like me have gotta be wondering if we should pull our savings out of Washington Mutual, for fear of having our funds frozen in a collapse. But to the man with more houses than he can count, our economy is still strong.
And you can trust McCain on this because he really knows what he’s talking about. You know, unlike some unknown economist like Alan Greenspan:
Former Federal Reserve Chairman Alan Greenspan offered a woeful outlook of America’s economic situation on Sunday, saying the crisis with the country’s financial institutions was as dire as he had ever seen in his long career, and predicting that one or more of those institutions would likely collapse in the near future.
“Oh, by far,” Greenspan said, when asked if the situation was the worst he had seen in his career. “There’s no question that this is in the process of outstripping anything I’ve seen and it still is not resolved and still has a way to go and, indeed, it will continue to be a corrosive force until the price of homes in the United States stabilizes.
Of course, the reason McCain refuses to acknowledge that our economy is in crisis is because to do so would acknowledge the need for government to do something about it… like increased regulatory oversight of the financial industry, something to which McCain is opposed on blind, ideological grounds. To a free marketeer like McCain, admitting that we fucked up, and allowed our financial industry to implode through lax oversight, would be tantamount to renouncing one’s belief in God.
And to think, McCain is actually trying to rebrand himself as an agent of change….
UPDATE:
But then, I suppose, the family featured in this ad… they just made poor choices, so they’ve got nobody to blame but themselves.
Why does the Times want me to go to jail?
Don’t get me wrong, I’m all for the federal reporter shield law the Seattle P-I Times editorializes in favor of today. And the Thomas Jefferson quote they use to back their position is well worth repeating:
“Our liberty cannot be guarded but by the freedom of the press, nor that be limited without danger of losing it.”
But I’m more than a little annoyed that in all the debate over state and federal shield laws, my colleagues in the corporate media have never once raised the issue as to whether these laws should extend to bloggers like me.
Like those hoity-toity salaried reporters, I often get tips and quotes from sources who choose to remain anonymous, and I don’t see why I should have to go to jail to protect their confidence, when, say Chris McGann wouldn’t? (And I will protect my sources, with or without a shield law, because that’s what journalists do.)
These shield laws have been structured so that they really only apply to the corporate media, that is, journalists who have their paychecks signed by Frank Blethen, the Hearst Corporation, or some other master. Yet as a student of history I’m pretty confident asserting that Jefferson would have recognized my style of reporting as much more analogous to the pamphleteers he sought to protect, than the journalistic anomaly represented by our modern dailies.
Michelle!
I went to Denver intending to do a lot of videoblogging… but drastically underestimated the time it would take to review and edit the couple hours of video I ended up recording. So over time, I’ll post a few clips here and there, kinda like a documentary in dribs and drabs.
Anyway, here’s a short interview I did with Michelle Gregoire, the governor’s daughter, when they visited the Big Tent where us bloggers hung out.
Videoblogging Rob McKenna
Why does John McCain hate America’s children?
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