Thursday, April 02, 2009

Eric Cantor's buddy, Rush Limbaugh, opines about "anal poisoning"


24 hours before the #2 Republican in the House, Eric Cantor, says publicly that Rush Limbaugh is the person he looks to for ideas on how to solve the economic crisis, Cantor's buddy Limbaugh says the following about Gordon Brown's kind words about Barack Obama in London. Mind you, they were at a summit to address the economic crisis:
"The slobbering... this guy... Folks I'm telling you, he, if he keeps this up throughout the G20, Gordon Brown will come down with anal poisoning and may die from it."


Yes yes, Limbaugh is an idiot, so who cares? Well, when you have the number two Republican in the US House of Representatives praising this idiot as the man with ideas, then we should all be concerned. It's not like the Republicans are a permanent minority party, yet. Read More......

Chicago's Cardinal: It's an "extreme embarrassment" that Obama is speaking at Notre Dame


Okay, most people would think protecting child molesters and harboring Nazi apologists would be extremely embarrassing for an organization. But, most people aren't leaders of the Catholic Church, which has incredibly misplaced priorities:
Cardinal Francis George is urging Catholics "to call, to e-mail, to write letters" about the "extreme embarrassment" the University of Notre Dame has caused by inviting President Barack Obama to speak at its commencement next month.

But George acknowledged, at a weekend conference on human dignity and infertility, that the South Bend university is "not going to disinvite the president ... no matter what you do."
The Catholic Cardinals and Archbishops kissed George Bush's ass for eight years. They never held him accountable. Ever.

The cardinal should be telling people to call, to email, to write letters to Congress to pass the budget so the U.S. can get the economy moving again. That sounds like a better use of time and resources when people are losing their jobs and their homes.

Except for those crazy Catholics fanatics like Bill Donohue, no one else really cares. In fact, I checked with one of the most devout Catholics I know, my mother, Rita, who was adamant:
I think it's great. There isn't any reason he shouldn't. The church should put more time into helping people and get over it. I'm just happy that Notre Dame isn't stopping him.
I trust my mother's instincts on this more than any Catholic bishop. Read More......

Finally, a true leader


AMERICAblog reader Mark caught this one on Jake Tapper's blog this morning.
According to sources inside the room, President Obama just played peacemaker in a spat between French President Nicolas Sarkozy and Hu Jintao, President of the People's Republic of China....

"China tends to have a problem endorsing the documents of organizations like the OECD that they're not a party to," the senior administration official said.

But Mr. Obama, according to this account, stepped between the two men, urging them to try to find consensus, and giving them a "pep talk" about the importance of working together.

The senior adminstration official said that Mr. Obama pulled Mr. Sarkozy aside, took him to a corner, "and discussed possible alternatives," the senior official said.

Once they arrived at one, President Obama "sent a message to the Chinese" that a counter-offer was on the table. The Chinese spent some time considering the offer. But they took a few minutes.

So Mr. Obama, with the assistance of translators, suggested that he and Mr. Hu have a conversation as well. They, too went to the corner to talk. After a few minutes, Mr. Obama called upon Mr. Sarkozy to join them.

"Translators and sherpas in tow, they reached an agreement," the official said. "There was a multiple shaking of hands."
No souls involved. Read More......

Media starting to ask if it's time for Coleman to concede


And that's not good for Coleman. As soon as people start talking about you as though you're history, in politics, as in Hollywood I suspect, you quickly are history.
The longer Coleman pushes out the legal fight over the 2008 election, the more he risks alienating Minnesota voters who have already begun to care less about the last race and are ready to move on with their lives.

All the way back in December, Survey USA conducted a poll in which 40 percent of the sample said that the candidate on the losing end of the recount (it hadn't been concluded at that point) should file a legal challenge to the results while 55 percent said the losing candidate should not challenge the results in court.
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BREAKING: Blago indicted


Blago, his brother, two former top aides, and two businessmen. All indicted by Patrick Fitzgerald. This is from Fitzgerald's office:
Since 2002, even before he was first elected governor that November, and continuing until he was arrested on Dec. 9, 2008, former Illinois Gov. Rod R. Blagojevich and a circle of his closest aides and advisors allegedly engaged in a wide-ranging scheme to deprive the people of Illinois of honest government, according to a 19-count indictment returned today by a federal grand jury.

Blagojevich, 52, of Chicago, was charged with 16 felony counts, including racketeering conspiracy, wire fraud, extortion conspiracy, attempted extortion and making false statements to federal agents. He allegedly used his office in numerous matters involving state appointments, business, legislation and pension fund investments to seek or obtain such financial benefits as money, campaign contributions, and employment for himself and others, in exchange for official actions, including trying to leverage his authority to appoint a U.S. Senator, announced Patrick J. Fitzgerald, U.S. Attorney for the Northern District of Illinois.

Also charged as co-defendants in the same indictment are:

John Harris, 47, of Chicago. Blagojevich’s chief of staff from late 2005 until last December after he was arrested along with Blagojevich. Through his attorney, Harris, who is charged with a single count of wire fraud, has authorized the Government to disclose that he has agreed to cooperate with the United States Attorney’s Office in the prosecution of this case;

Alonzo Monk, 50, of Park Ridge, Ill. A lobbyist doing business as AM3 Consulting, Ltd., and a long-time Blagojevich associate who served as his general counsel when Blagojevich represented Illinois’ Fifth Congressional District, and later managed his 2002 and 2006 gubernatorial campaigns, was his first gubernatorial chief of staff from 2003 through 2005, and later chairman of his campaign fund;

Robert Blagojevich, 53, of Nashville, Tenn. Blagojevich’s brother, who became chairman of his campaign fund in August 2008;

Christopher Kelly, 50, of Burr Ridge, Ill. A businessman and a principal campaign fundraiser who also served as chairman of Blagojevich’s campaign fund from early 2004 until August 2005. The indictment alleges that with Blagojevich’s knowledge and permission, Kelly at times exercised substantial influence over certain activities of the governor’s office; and

William F. Cellini, Sr., 74, of Springfield, Ill. A businessman who also raised significant funds for Blagojevich, in part through his role as the executive director of the Illinois Asphalt Pavement Association. Cellini had longstanding relationships and influence with trustees and staff members of the Teachers Retirement System of Illinois (TRS), and he was associated with Commonwealth Realty Advisors, a real estate asset management firm that invested hundreds of millions of dollars on behalf of TRS, the indictment alleges.
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Governor Sanford is being pummeled by South Carolinians


Our friend, South Carolinian Alvin McEwen, passed along a post he wrote about the media backlash underway against the state's Governor, Mark Sanford, for his politicking with stimulus money:
To put it nicely, Governor Sanford is being destroyed, annihilated, and figuratively tarred and feathered for his stance against taking stimulus money to help education.

I don't think that I have ever seen an editorial page take such as vocal position. Other than one letter to the editor and a some comments, Sanford has absolutely NO support.

And as well he shouldn't. He was elected to be the guardian of the citizens of South Carolina. And how can you be a guardian if you choose your political future over the needs of those you are elected to serve.
Today's editorial in The State is titled "The state of South Carolina vs. Gov. Mark Sanford: A chorus of opposition":
THAT FAVORITE conservative punching bag, The New York Times, handed Gov. Mark Sanford a fabulous gift Monday when it chastised him for refusing to request $700 million in federal stimulus funding that our state so clearly needs. That let the governor frame this as his battle against “the left-leaning media.” But that ignores the near-unanimity of media opinion here in South Carolina — from the conservative Upstate to the hometown paper that has been Mr. Sanford’s most consistent supporter.

The Aiken Standard begged the governor to request the funds. The Rock Hill Herald’s opinion editor, James Werrell, wrote that “anyone who would consider turning down federal help in getting this state back on its feet should be tarred and feathered.” The Anderson Independent-Mail argued that “Not accepting the money does nothing for South Carolina except perhaps enhance the governor’s image as the conservative’s conservative in the national arena with regard to fiscal matters.”

And on and on across the state, editorial pages echo most of the state’s Republican officeholders and the public (in the past week, our letters to the editor have been running 4-to-1 against the governor’s position).
The Governor is at war with his constituents just to score cheap political points with the hard-core GOP nuts who will pick the party's presidential nominee in 2012. The people of South Carolina are onto Sanford.

Sanford's actions also fit into the general theme that there's not really an economic crisis. It's a pervasive attitude among Republicans. If it's not a real crisis, it's okay to play political games. That's what Sanford is doing. Read More......

Cantor denies he was talking about Democrats "overreacting" to economic crisis - so who did he mean?


It's a simple question. Who did GOP leader Eric Cantor mean when he said that Rush Limbaugh had great ideas for fixing the economy, versus other people "in this town" who were "overreacting"? If he didn't mean Democrats, which we hear he's now claiming, then who "in this town" is taking the economic crisis too seriously, according to the number two Republican in the House?

Maybe folks should call Mr. Cantor's office and ask them who he was talking about:

DC 202-225-2815
VA 540-825-8960
VA 804-747-4073 Read More......

Consumers falling behind with credit


It looks like it's going to be one of those days when the good news is more limited. Consumer credit delinquencies should not come as much of a surprise considering the massive amounts of credit taken on by consumers in recent years. It was unsustainable and irresponsible to allow banks to even hand out so much credit. Now they are getting their bailout though for consumers, it's another story. Not that they were right in piling on the credit, but it's a striking difference.
According to the American Bankers Association, which represents most large U.S. banks and credit card companies, the percentage of consumer loans at least 30 days late rose to a seasonally-adjusted 3.22 percent in the October-to-December period from 2.9 percent in the prior quarter.

The ABA said the fourth-quarter rate was the highest since it began tracking the data in 1974, with delinquencies rising in nearly every category. It said these credit trends are unlikely to improve before 2010. Many consider the deep recession the worst since the Great Depression of the 1930s.

"Job losses have really hurt the economy and will continue to inflict pain for several months," James Chessen, the ABA's chief economist, said in an interview. "The greater the losses are, the more severe an impact it has on all credit markets."
The good news is that in early trading on Thursday, the markets have ignored the bad news. Read More......

Rush has ideas?


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Does the GOP believe in democracy any more?


Elections, and democracy, don't matter to the Republicans. We're seeing that, in action, with the Republican effort to use the courts to indefinitely stop Al Franken from being seated as the new Senator fro Minnesota. And now we're seeing it in Alaska, where the state Republican party thinks we ought to re-do the Senate race, to give the Republican candidate another chance, now that the case against Stevens has been dropped.

Oy.

Re-read what Holder said about dropping the charges against Stevens. Yes, he said the prosecutors appear to have acted improperly, but he also seemed to imply that something was at play his decision - look at what he actually said.
After careful review, I have concluded that certain information should have been provided to the defense for use at trial. In light of this conclusion, and in consideration of the totality of the circumstances of this particular case, I have determined that it is in the interest of justice to dismiss the indictment and not proceed with a new trial.
As soon as I saw that quote yesterday, it sure sounded to me like Holder was saying "Stevens is old, he's already paid a price at the ballot box, it's time to let him sail into the sunset even though he still may be guilty." I don't think for a minute that Holder said Stevens was exonerated. He was being nice by letting Stevens off the hook and not saying explicitly that he still thinks the man may be guilty.

But in any case, Good God - do another election? How many elections do we need to have before it's the "right" election? Do any of these guys actually believe in democracy any more? Read More......

BREAKING: Audio uncovered of top GOP leader Cantor praising Limbaugh's ideas for the economy, dissing Dems for "overreacting" to economic crisis


Plum Line got the audio. Greg has the transcript here:
“As far as Rush, Rush has got ideas. He’s got following. He believes in the conservative principles that many of us believe in –- of lower taxes, of making sure that we turn back towards a focus on entrepreneurialism in this country, to promoting innovation and not stamping that out by over-reacting, if you will, which this town often does, to crisis.”
I know Joe posted on this earlier, and mentioned Limbaugh, but it didn't hit me until now, looking at the transcript, that Cantor, the minority whip, THE NUMBER TWO REPUBLICAN IN THE HOUSE, said he prefers Rush Limbaugh's solutions to the economic crisis over what the Democrats are offering because THE DEMS ARE TOO CONCERNED ABOUT THE ECONOMY. It's bad enough to suggest that the economic crisis isn't that important a problem, but in the same breath - the same sentence - to say that you prefer Rush Limbaugh's solutions? Are these guys nuts? After a month debating whether Limbaugh was the intellectual leader of the party, the number 2 Republican in the House confirms that Limbaugh is the guy inspiring their solutions to the economic crisis? Read More......

GOP Leader Eric Cantor say Democrats are 'overreacting' to the economic crisis


Just a couple hours ago, Chris posted the latest gloomy economic news: Jobless claims hit 26 year high.

But, one of the top Republican leaders thinks that Democrats are "overreacting" in their attempts to fix the economy. Overreacting?
GOP Whip Eric Cantor thinks his party can retake the House in next year's midterm elections -- and accused Democrats of "overreacting" to the economic crisis by embarking on a federal spending spree.

The Virginia Republican, speaking to reporters at the Christian Science Monitor breakfast Thursday morning, praised Rush Limbaugh for his "ideas" and for avoiding the Democratic error of "overreacting, as they often will, to crisis."
If Eric Cantor ever took one step outside of the Capitol Hill bubble, he'd know that people are suffering -- and want their government to act.

John McCain was even in the polls with Barack Obama until mid-September. After the collapse of Lehman Brothers, when it was clear our economy was tanking, McCain said the fundamentals of our economy were strong. His campaign started to tank.

Eric Cantor just pulled a McCain. He showed just how out of touch the Republican Party is. It's bad enough that Cantor and his fellow Republicans created the economic crisis. It's worse that they're doing everything possible to prevent it from being fixed.

DNC National Press Secretary Hari Sevugan blasted Cantor:
On the day we learned that jobless claims rose to their highest levels in 26 years, Eric Cantor's charge that anyone is 'overreacting' to this economic crisis typifies the Republican just say 'NO' approach. Whether it's because they are simply out of touch with the pain American families are feeling, or they understand but are choosing to play politics instead, the lack of urgency shown by the Republican party at this time of crisis is appalling.
It is appalling.

Overreacting. Wow.

NOTE FROM JOHN: These guys don't think we're in an economic crisis. Remember when Phil Gramm, John McCain's top economic advisers, said we were in a mental recession, that the economic crisis was all in our minds? Then there's the GOP coordinating their own governors to turn down the economic stimulus money, something that jeopardizes the entire economic recovery nationwide. The only reason they would do is either they don't care if they help send the nation into a recession, or they don't believe the economy is really that bad.

This is why the Republicans all voted against the stimulus package. This is why their "alternative" legislation was practically all tax cuts. They don't think we're in a crisis. They don't think the economy is that bad. The still believe that the "fundamentals of our economy are strong."

This is the question that everyone, including the media, should be asking ever Republican politician today: Do you believe that we are in an economic crisis or not? Read More......

Conservative crusader against health care reform has a shady past (even his allies are worried)


A couple weeks ago, I did a post on Rick Scott, the face of a right wing group fighting health care reform. I linked to an excellent piece, "Healthcare Enemy No. 1" in The Nation by Chris Hayes, which exposed Scott's shady background noting:
Having Scott lead the charge against healthcare reform is like tapping Bernie Madoff to campaign against tighter securities regulation. You see, the for-profit hospital chain Scott helped found--the one he ran and built his entire reputation on--was discovered to be in the habit of defrauding the government out of hundreds of millions of dollars.
Scott has made himself, with his own money, the leading spokesperson opposing health care reform. He wants things to stay the same. Today, Scott gets front page treatment from the New York Times. Seems even his supposed allies are worried about Scott taking a lead role:
Some former allies are more hostile toward Mr. Scott, painting him as counterproductive to their efforts for compromise.

“I just don’t understand why he would be a messenger people would listen to,” said Charles N. Kahn III, who was a senior executive with the insurance industry group that ran the “Harry & Louise” advertisements credited with helping to kill the Clinton plan 15 years ago but who is working for a deal now. “I don’t think people are waiting to hear from him.”

Mr. Kahn, a Republican, is now the head of the Federation of American Hospitals, a private-hospitals group.
The leader of the health care reform campaign thinks Scott is actually the perfect spokesperson:
“He’s a great symbol from our point of view,” said Richard J. Kirsch, the national campaign manager for Health Care for America Now. “We cannot have a better first person to attack health care reform than someone who ran a company that ripped off the government of hundreds of millions of dollars.”
Says it all. So when you see this guy, don't believe a word he says:
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Jobless claims hit 26 year high


Nobody likes surprises and this comes as a surprise. Maybe the market will ignore this and focus on some of the positive news that has been out there this week.
The number of U.S. workers filing new claims for jobless benefits unexpectedly rose to its highest level in over 26 years last week and so-called continued claims jumped to a record high in March, according to data that underscored the labor market deterioration.

The Labor Department said on Thursday initial claims for state unemployment insurance benefits rose 12,000 to a seasonally adjusted 669,000 in the week ended March 28, the highest since the week ending Oct. 2, 1982, from an upwardly revised 657,000 the week before.

Analysts polled by Reuters had forecast 650,000 new claims versus a previously reported count of 652,000 the prior week.
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Thursday Morning Open Thread


Good morning.

The House and Senate will be voting on their respective budget proposals today. In the House, there will be a couple votes, including one on the GOP's "talking points" budget.

In the Senate, there will be a slew of votes on mostly GOP amendments. It's called the "vote-a-rama." Oh, those Senators and their fun little games. Vote-a-rama: Watch the GOP try to score cheap political points while the country is in a crisis of their making.

Next week, Congress in on vacation district work period, so they'll definitely finish up today or tomorrow.

Let's get rolling... Read More......

France and Germany aren't completely wrong


While France and Germany could stand to invest more in stimulus plans, they're also not wrong about global regulation. The banks have played one country against another for far too long and coordinating an approach around the world is a good idea. It's still unclear why Obama is so against this, other than the possibility that he continues to buy into the know-it-all Summers, who must be against it. London and New York remain the global financial capitals, and that probably has a lot to do with this as well. If there were more confidence in Geithner leading the US regulation, a global regulator would be less interesting. At a very minimum, we need a lot more coordination across borders with regulating banks.
Despite calls for unity from Mr. Obama and the British prime minister, Gordon Brown, the host of the Group of 20 meeting that will formally begin Thursday, a rift intensified over Anglo-American calls for greater fiscal stimulus spending and French and German demands for more intrusive global regulation of financial institutions.

While President Nicolas Sarkozy of France did not repeat an earlier threat to walk out of the conference — “I just got here,” he joked — he made it clear he would reject an agreement that puts off stringent new regulations on banks, tax havens, and hedge funds.

“The decisions need to be taken now, today and tomorrow,” he said. “This has nothing to do with ego. This has nothing to do with temper tantrums. When it comes to historic moments, you can’t circumvent them.”
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Bush-era worker safety program - another failure


No surprise here. Since when did the Republicans ever care about the safety of anyone outside of the boardrooms?
A special government program to improve worker safety in hazardous industries rarely fulfilled its promise, a Labor Department audit concluded yesterday, and over the past six years, dozens of deaths occurred at firms that should have been subjected to much tighter federal safety enforcement.

The report was the first detailed appraisal of a highly touted Bush administration initiative that called for the Occupational Safety and Health Administration to devote attention and resources to improving safety at companies with a troubled history of job-related fatalities. The study found that officials failed to gather needed data, conducted uneven inspections and enforcement, and sometimes failed to discern repeat fatalities because records misspelled the companies' names or failed to notice when two subsidiaries with the same owner were involved.

Last year, the administration also changed the program's rules, sharply reducing the number of companies eligible for special attention. Proper enforcement might have "deterred and abated workplace hazards at the worksites of 45 employers where 58 subsequent fatalities occurred," Assistant Inspector General Elliot P. Lewis wrote in the report.
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Economic crisis fails in divorce court


Just because the banksters acted as though the good times would never end doesn't mean everyone has to buy into their arrogance. Pay up and shut up.
In a case which will affect scores of claims brought by slump-hit millionaires, the appeal judges refused to cut an £11m divorce settlement agreed by financier Brian Myerson with his former wife, Ingrid. The judges described the financial crisis as a "natural price fluctuation" rather than a truly unforeseeable economic event that would justify a change in the terms of the divorce settlement.

"When a businessman takes a speculative position in compromising his wife's claims, why should the court subsequently relieve him of the consequences of his speculation by rewriting the bargain at his behest?" said Lord Justice Thorpe, one of the judges hearing Mr Myerson's appeal.

But the 50-year-old tycoon, who claims he is £500,000 worse off because the value of his assets had fallen, said he would now go back to court to try to use the original terms of the settlement to cancel further payments to his ex-wife.
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Whoever knew should also be indicted and convicted


Not that it comes as much of a surprise, but the latest update in the Madoff scandal is the suggestion that others knew of the scam yet still promoted the Madoff funds. It has always been unimaginable to believe that a bunch of math specialists could not detect such a fraud. It's difficult to believe any high level person inside the team or closely working with them on the outside can suggest that they had no idea what was happening. There's a lot more to this story and Madoff probably won't be the only person sent to prison.
The testimony by investigator Edward H. Seidle on Tuesday came as a Connecticut judge froze the funds of Madoff and several of his business associates as part of a lawsuit filed for members of a city's retirement fund who say they invested with companies linked to Madoff.

In his affidavit, Seidle said Madoff's associates -- specifically the so-called "feeder funds" that handled money for Fairfield, Connecticut's retirement plan -- should have known that he was cheating his clients.

"It is my opinion ... that [the funds and their principals] were all aware that Bernard L. Madoff was engaging in illegal conduct in connection with his purported money management operations and intentionally chose to participate and support Madoff's illegal conduct in order to reap enormous illicit financial benefits," he stated.
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Detroit exceeds market expectations


Not great news - there's plenty of bad news in the numbers - but it could be a lot worse. Everyone has to find a bottom and start from there so maybe this is Detroit's bottom. We won't really know for a few months.
March sales fell sharply for General Motors, Ford Motor and Chrysler, but not as much as industry analysts had feared for any of the companies. Sales of Japanese automobiles also fell, though less steeply than they did for U.S.-based automakers.

In other automotive news Wednesday, GM's financing arm, GMAC, said it will resume making loans to subprime borrowers.

GM executives, echoing comments from other major automakers, said there were some signs that industry-wide auto sales were starting to stabilize after a brutal decline over the past year and a half.
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