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This is getting tiresome

There are times when a sane person can reach only one sensible conclusion about the Democratic members of the House and Senate: They are engaged in a silent conspiracy to put the Republicans in power. True, the Republicans make it hard for them, but the Democrats soldier on.

Latest case in point, as many others have noted, is the latest Democratic cave. (Or is it a cave? No, it’s not. The premise of this post is that it is part of a grand strategy). Anyway, putting the digression aside, is there any reasonable explanation for the fact that the Democrats voted en masse to exempt the FAA from the sequester? The whole alleged point of this stupid exercise was to spread the pain and give everyone an incentive to compromise, and elicit pressure from constituents of every stripe.

But, sorry about that, no one intended to inflict pain on the rich nor on members of Congress, who happen to travel a lot. They’re so not used to it. So, naturally, the Republicans squealed on behalf of the rich, and the Democrats immediately “compromised” by giving the Republicans a PR victory while the Republicans give what they always give in these compromises: nothing.

It can’t be mere stupidity. No one can possibly be that stupid. It must be intentional, leading one ineluctably to the conclusion that the Democratic Party, as an institution, exists for the sole purpose of enabling the Republican Party.

I should add that Obama, the guy who wants to cut social security, will leave his veto pen in the drawer and sign on to this surrender, implicitly pleading guilty to the ridiculous Republican charge that the cutbacks at the FAA were somehow a political tactic rather than the natural result of the Republicans’ own actions.

In case you were wondering, Connecticut Democrats fell right into the surrender line.

The SEC thinks about doing the right thing

In this morning’s Times we learn that the SEC is actually considering a petition that seeks a rule requiring the corporations to tell their owners (you know, the stockholders) which politicians they are bribing and which socially destructive causes they are financing. (Oddly enough, they are never shy about letting everyone know if they spend their money on something they can at least pretend is a worthy cause).

A loose coalition of Democratic elected officials, shareholder activists and pension funds has flooded the Securities and Exchange Commission with calls to require publicly traded corporations to disclose to shareholders all of their political donations, a move that could transform the growing world of secret campaign spending.

S.E.C. officials have indicated that they could propose a new disclosure rule by the end of April, setting up a major battle with business groups that oppose the proposal and are preparing for a fierce counterattack if the agency’s staff moves ahead. Two S.E.C. commissioners have taken the unusual step of weighing in already, with Daniel Gallagher, a Republican, saying in a speech that the commission had been “led astray” by “politically charged issues.”

(via www.nytimes.com)

Naturally, the folks who get the lions share of the bribes, and, not incidentally, support the unworthy causes their corporate masters tend to fund, have rushed to the ramparts.

In response to the growing pressure, House Republicans introduced legislation last Thursday that would make it illegal for the commission to issue any political disclosure regulations applying to companies under its jurisdiction. Earlier this month, the leaders of three of Washington’s most powerful trade associations — the U.S. Chamber of Commerce, the National Association of Manufacturers and the Business Roundtable — issued a rare joint letter to the chief executives of Fortune 200 companies, encouraging them to stand against proxy resolutions and other proposals from shareholder activists demanding more disclosure of political spending.

(via www.nytimes.com)

I do grow old. I remember a time when politicians felt the need to preserve a facade; to preserve what I believe the Nixon folks called “plausible deniability”, but those days are obviously past. They truly know no shame, and have no fear of letting the world know that they have been well and truly purchased.

But truly, these Republicans should really not have bothered, unless the point is merely to curry favor with their puppet masters. There was, perhaps, a time when the SEC might have seriously considered enacting such a rule, but those days are also long since past. Who knows, there may be folks in the lower echelons of that agency who would like to adopt such a rule, as the article states, but even they must know that this is all just kabuki. The SEC is now run by and for the corporations it regulates. The higher ups, who make the final decisions, are on a merry go round, making civil service salaries now so they can go back from whence they came, with salaries enhanced and more, to make up for those pauper’s wages and reward them for a job well done. My money is on them to come through for the corporations they have learned to serve, whatever the lower down folks may propose.

Good riddance

Max Baucus, the West’s answer to Joe Lieberman, will be riding off into the sunset. Time to cash in for carrying all that water for the health care, insurance, and financial industries (to mention only a few). Why let former aides get all the money?

No man has done more to undermine the Democrats from within. His only saving grace was that he never claimed, as did Liberman, that he was acting out of some lofty moral principles. He was more or less upfront about his corruption.

Yet one more modest proposal

In all seriousness I submit that President Obama should send the following letter, or one like it, to the person was was recently elected to the Senate from Texas:

Dear Senator Cruz:

I am in receipt of your request for federal funds to help the victims of the recent explosion that took place in your state. Believe me when I say that nothing would make me more personally happy than to accede to your request, but alas, I must hesitate to do so.

As you know, I recently made the mistake of requesting such funds for the victims of hurricane Sandy. As you also know, I am always ready to consider the positions of every Senator, be he or she a Republican or Democrat. During the debate on that bill I confess I was impressed with your cogent and erudite exposition of the constitutional principles at stake in taking an action that, to others, might appear to be simply the right thing to do in the face of disaster. While it was too late to stop the Sandy relief effort, I vowed that henceforth I would adhere to the constitutional principles that you so ably and convincingly espoused during that debate.

Imagine my surprise, then, to find that my first opportunity to demonstrate my new found conservative principles would involve an event in the State of Texas. But principles are principles, and I have, at least so far, come to the reluctant conclusion that the constitution forbids me from taking the steps you have proposed.

I confess, however, that I may be mistaken. A man of principle like yourself would most assuredly never change his position for purely parochial reasons. It is certainly possible, nay, even probable, that there is a fundamental constitutional distinction between the two situations; one that only a person as well versed in the law and our founding principles as you can discern.

Therefore, my decision to deny your request is, at this point, merely provisional. I invite you to submit your arguments in written form, explaining why disaster relief was inappropriate in the case of a natural disaster such as Sandy, but entirely appropriate in the wake of an explosion caused in great part by the negligence of Texas state officials. Please submit your statement in the form of a five part essay of no less than one thousand, and no more than two thousand words. Believe me when I say that nothing would please me more than to be persuaded that the constitution allows me to furnish the assistance you have requested. In order to assist me in this task, I have asked the governors of New York, New Jersey, Maryland, Connecticut and Massachusetts to help me review your submission. If they are persuaded, you may rest assured that I will be persuaded.

I look forward to hearing from you.

Yours truly,

Barack Obama

Friday Night Music

I spent some time perusing a list of songs about Boston, but truth to tell, I kept coming back to this one. These guys are a bit long in the tooth, and I don’t think it’s true that Boston girls still have to be in by twelve o’clock, but hey, those were different times. It’s still the Boston National Anthem.

This isn’t about Boston, but it’s sort of what the Boston folks have been saying about their town and their attitude.

Truly Incredible

If you are still using RSS (I know, it’s so last year with Google Reader disappearing soon), add Wall Street on Parade to your feeds. Pam Martens covers all things Wall Street, and if you want to stay in a permanent state of despair about the country generally, and economic fairness specifically, you should read it religiously. She has been covering the Senate hearings on the foreclosure “settlement” and you won’t believe this:

The settlement was to consist of $3.6 billion in cash being paid directly to more than 4 million aggrieved borrowers with another $5.7 billion in soft dollar assistance such as loan modifications, principal reduction and forgiveness of deficiency judgments. Yesterday’s bombshell, that the $5.7 billion may only amount to a paltry $12 million, was captured in this exchange at the hearing between Senator Jeff Merkley and Deborah Goldberg, Special Project Director of the National Fair Housing Alliance:

Senator Merkley: “In your testimony Ms. Goldberg, on page 10, you note that ‘on a loan with an unpaid balance of $500,000, a loan modification that provides any amount of principal reduction – be that $1,000, $10,000, or $100,000 – will yield $500,000 worth of credit for the servicer.’ It’s hard for anyone apart from this process to truly believe that if you do a $1,000 reduction you get $500,000 credit. Yet, are you saying absolutely that’s the way it works?”

Ms. Goldberg: “That’s what it says in the settlement…”

Senator Merkley: “Well, I’d just like to point out that the roughly $6 billion in soft money that’s in the settlement, at that 500 to 1 rate, that is reduced down to $12 million. Six billion goes to $12 million. That’s a vast difference. Now you’ve pointed out Ms. Goldberg that this creates a pure incentive to do reductions on large loans. Now I live in a working class neighborhood, 3-bedroom ranch houses. There are no $500,000 mortgages where I live ‘cause there’s no $500,000 houses. So your point in your testimony is that working class communities, certainly communities of color, there’s an incentive to kind of bypass them. Why would the Fed and the OCC agree to a structure that allows a 500 to 1 or more, for that matter…why would they agree to such a fictitious form of accounting and a structure that incentivizes the bypassing of working Americans in this whole process.”

Ms. Goldberg: “I think that’s an excellent question Senator Merkley. I’m afraid I can’t answer it. It would be a good question to ask them to explain.”

There are multiple reasons to believe that the banks, with the sycophantic regulators in tow, have gamed the system with this settlement. As we reported last week, Senator Elizabeth Warren delivered the bombshell in last week’s Senate hearing that the banks themselves were allowed to determine the potential number of harmed borrowers and classify them into categories of harm – thus effectively determining the monetary payments.

(via Wall Street on Parade)

Not to put too fine a point on it, it appears that the banks engineered a deal where they get to decide who they scammed, and then they get to call one dollar 500 dollars. (I wonder if I can repay my own mortgage using that kind of accounting?) For that matter, if they can find a million dollar mortgage out there they can convert a dollar into a thousand dollars. Plus, and why is this no surprise, they can get this rosy outcome by comforting the most comfortable among those they scammed (or decide that they scammed, and they are incentivized to decide they scammed the rich) while ignoring the most straitened. What a great country.

One of Our Best

Every year at this time we Groton Democrats honor one of our own. Truth be told, one purpose is raising money, but the honorees are all deserving, but this year’s is especially so.

Natalie Burfoot-Billing, a member of the storied Burfoot clan of Groton (brother Amby won the Boston Marathon lo those many years ago), has pretty much done it all.

Like yours truly, she has swept the table of elective offices here in Groton, having been a member of the Board of Ed, the Town Council, and the Representative Town Meeting. Unlike yours truly, she managed to get re-elected whenever she chose to run again.

But Natalie’s real worth, substantial as it was and is in those offices, is on the ground during political campaigns. We often don’t see much of Natalie at town committee meetings during the off season, but once the campaign season begins, she’s everywhere. Nothing gets done without a lot of willing workers, but those willing workers aren’t going to get much done without someone willing to take charge and make sure that the things that need to get done get done. That’s where Natalie shines. Calls get made, signs get posted, voters get tabulated. Those things wouldn’t happen in Groton without Natalie. Well, maybe they would, but not nearly as well as they do. We are a disparate bunch, but it all comes together during campaign season, and it’s Natalie that makes it happen.

One suspects that there’s someone like Natalie in every town committee-at least every successful town committee. We’ve had a lot of close elections in our neck of the woods, Joe Courtney’s first win being a prime example. Joe would be just another small town lawyer (like yours truly) if not for folks like Natalie.

If you’re a Groton Democrat, or wish you were, come to the Groton Motor Inn
99 Gold Star Highway (Rt 184) at 3:00 PM to honor Natalie and support your local town committee.

Colbert on Boston

A great bit.

Con Men All

This type of thing is probably not unprecedented, but it’s particularly galling in a political environment in which it takes massive public pressure to even get debate on a bill people want, never mind an actual vote.

Last year, to much fanfare, and with support from both parties, Congress passed the STOCK act, an act designed to shed some light on the financial activities of public officials and political candidates. Among other things, the statute provided for a mechanism for ordinary people to obtain the information in easily readable downloadable formats. President Obama signed the bill, again to great fanfare, hailing it as a “good first step”.

Yesterday, to no fanfare at all, while the rest of us were worrying about Boston, Obama signed a bill that, while not quite repealing that “good first step” (that would be tacky and might draw attention), rendered it a meaningless shell. It was a Congressional con-job, enabled by an eager President. It passed with even broader Congressional support than the original act, proving once again a thesis I have propounded on occasion: the closer they come to unanimity the more reprehensible their product is likely to be:

Watchdog groups had hailed the passage of the bill last year, as it had wide bi-partisan support and satisfied the public need for added transparency. However, just months after the 2012 election, Congress furtively stripped the bill of major powers:

Both chambers of Congress quickly — and near silently — approved the repeal legislation at the end of last week by unanimous consent, just before heading home to their districts.

The Senate advanced the bill Thursday by unanimous consent, without debate or even briefly describing what it would do. The House signed off on the bill Friday using the same approach.

And, unfortunately, yesterday, President Obama completed this rope-a-dope deception by signing this new bill, which stripped key provisions from the STOCK Act and rolled back a lot of the progress that the original bill made in promoting transparency and open government. The bill was signed without any cameras or fanfare, which is in stark contrast to the very public signing of the actual STOCK Act. It seems President Obama was glad to parade around the signing of the pro-transparency bill, but was not so open about his reversal of the most important parts of it a year later! Open Secrets describes the key provisions stripped out of the bill and labels this action “A reversal of the STOCK Act”:

(via Daily Kos: Pres Obama Signs Bill Killing Anti-Corruption, Pro-Transparency STOCK Act Provisions)

I’m as cynical as the next guy, and I knew from the start that Obama was not the next Lincoln (even Lincoln wasn’t really Lincoln) but I have to admit that I’m astounded by the con job that Obama pulled off- not once, but twice. Now, we really had no choice, the alternatives being so much worse, but the second time around even I managed to get a little enthusiastic, and the first time I really had hope (remember “hope?”).

Of course this minor piece of treachery is nothing compared to Obama’s seemingly implacable desire to repeal the New Deal. I mean, even the right wasn’t exactly clamoring for privatization of the TVA, and they were by no means demanding that we cut Social Security, though of course they welcome the chance to do so and then blame the Democrats. And, lest you think that Obama honestly thinks that chained CPI is really a more honest way to calculate changes in the cost of living, think again. As Dean Baker observes, The Obama Administration Is Scared of an Accurate Consumer Price Index:

It would have been helpful to note this fact in an article discussing the Obama administration’s proposal to cut Social Security benefits by adopting a chained consumer price index as the basis for Social Security cost of living adjustments (COLA). The piece notes claims that the chained CPI provides a more accurate measure of the rate of inflation, then tells readers:

“Some argue that the chained CPI would cheat seniors by understating inflation for the elderly, who spend more on health care. The nonpartisan Congressional Budget Office (CBO) has found conflicting evidence on that point.”

Actually the Congressional Budget Office did not find conflicting evidence on this point, it just noted that the evidence is not conclusive. If the White House was interested in an accurate measure of the rate of inflation seen by seniors then it could instruct the Bureau of Labor Statistics to construct a full elderly CPI that would track the actual consumption patterns of the elderly. It has steadfastly refused to consider this proposal, which could lead to a higher annual COLA.

The Post should have made this point so that readers would recognize that the goal of the Obama administration is to cut Social Security, not make the COLA more accurate. Some people may be confused on this point.

(via Beat the Press)

There is a distinct disadvantage to the current situation. Had Romney been elected, the battle lines would be clear. Romney would no doubt have wanted to do exactly what Obama is trying to do, but Democrats would have had a clear and powerful political incentive to oppose him. They now go into battle with a leader who is essentially fighting for the other side. If both major parties are intent on selling people out, and if voters cast about for an alternative, this country being what it is; our media being what it is; the power of money being what it is; that alternative will be from the right, dressing itself up in populist rags. Obama, unless our Congresspeople, against all odds, engage in massive resistance, is handing the Social Security and Medicare programs over to the tender mercies of the Republican Party, which will pose as their savior, and proceed to reform them to their deaths.

Friday Night Music-Two Ladies

One of the unwritten rules for the Friday Night feature is that I don’t repeat an artist, but since it’s unwritten and since I unwrote it, I can break it any time I like. In any event, I’m running out of artists, though I’ve never, so far as I can recall, posted anything with the first Elvis, and probably never will.

This comes to mind because I’ve begun drawing inspiration from the obituaries. As people die, one must pay tribute, or, in rare cases, refuse to do so for the truly undeserving. So, this week, the good Elvis returns, giving Margaret Thatcher her due. I personally am not a fan of the tendency to give a pass to the evil dead and I’m glad that Elvis got his wish.

Annette Funicello also left us this week. For those of us of a certain age she was an icon, though by the time she was 25 she was already a relic of a more innocent (in some ways) age. She may not live in the collective memory as long as Thatcher, and she may not have had the same impact as Maggie, but she compares well. She didn’t make the world any worse, and for some at least, made it a tiny bit better, and from all I’ve read, she endured her multiple sclerosis with grace and dignity. If you were there at the time, and the right age, I doubt you can watch this clip without tearing up. If not, you’ll just marvel at the naiveté, I suppose.