GOP prez debate coverage, on NBC now, 9pm ET

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White House petitioned to investigate MPAA bribery

Chris Dodd and the MPAA don't seem to appreciate how angry they're making the public. The White House is going to have to balance the desire to win over financial support from Hollywood and the recording industry versus winning over many more voters who are sickened with the actions of the MPAA. TorrentFreak:

Although it’s no secret that the movie industry has a powerful lobby in Washington, explicitly admitting that bribery is one of the tactics the MPAA uses to have their way wasn’t well received by the public. A few hours ago a White house petition was started to investigate Chris Dodd and the MPAA for alleged bribery. “This is an open admission of bribery and a threat designed to provoke a specific policy goal. This is a brazen flouting of the ‘above the law’ status people of Dodd’s position and wealth enjoy,” the petition reads. “We demand justice. Investigate this blatant bribery and indict every person, especially government officials and lawmakers, who is involved.” In just a few hours the petition amassed more than 5,000 votes and this number is increasing rapidly. As a former Senator, Chris Dodd has many friends in Washington so it’s unclear whether the petition will accomplish anything, but if the numbers grow big enough the White House won’t be able to ignore it either.

This battle is not unlike many of the others that we've witnessed recently where it's the 1% versus the 99%. The 1% has had a winning record for a while thanks to the high cost of political campaigns but nothing is forever. Read the rest of this post...

Video: Guys bounce huge tire into lake (way cooler than it sounds)

I know, my inner environmentalist cringed a little at first.  Then I watched the video and my inner Homer said "coooool."

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GOP Sen. Rand Paul refuses TSA pat down. Sorry, that doesn’t make him a hero.

The metal detector went off and he refused a pat down. Sorry, but I don't want the guy on my plane if he's setting off metal detectors and then refusing a pat down. From ABC:

The TSA version of events is that Paul triggered an alarm during routine airport screening and refused to complete the screening process (pat-down) in order to resolve the issue. Paul was escorted out of the screening area by local law enforcement.

“When an irregularity is found during the TSA screening process, it must be resolved prior to allowing a passenger to proceed to the secure area of the airport,” according to an official statement released by TSA. “Passengers who refuse to complete the screening process cannot be granted access to the secure area in order to ensure the safety of others traveling.”

GOP presidential candidate Ron Paul says this is "the police state" at work.

Is this Washington Post writer correct, is too much too much? I know Chris has been critical of the TSA in the past, and I'm no fan of the TSA'sa seeming inability to rezip my luggage after they've finished searching it. But is it really too much to ask that you let them pat you down after you set off the metal detector at the airport?

Shorter me: Ron Paul has a point, but this isn't it. Read the rest of this post...

GOP establishment will panic and meltdown if Newt wins FL, top McCain aide says

Top McCain 2008 presidential campaign aide Steve Schmidt says that if Newt Gingrich wins Florida, establishment Republicans are going to lose it because they don't think he can beat Obama.  Via Heather at Crooks & Liars:

SCHMIDT: Look, I think, not only are we not moving towards a coalescing of support by the Republican establishment for Newt Gingrich, we're probably moving toward the declaration of war on Newt Gingrich by the Republican establishment. And if Newt Gingrich is able to win the Florida primary, you will see a panic and a meltdown of the Republican establishment that is beyond my ability to articulate in the English language.

People will go crazy and you will have this five week period until the Super Tuesday states which is going to be as unpredictable, tumultuous as any period in modern American politics. It will be a remarkable thing to watch should that happen in Florida.

C&L; has video of Schmidt's comments as well. Read the rest of this post...

Obama admin on verge of horrible bank mortgage fraud settlement deal

There's lots of talk about the pending deal between what used to be 50 state Attorneys General and the nation's five largest banks around what started out around robosigning, but seems to have expanded to broadly include foreclosure fraud and securities fraud.

It looks like the Obama administration is on the verge of announcing a deal with some number of state AGs, a handful of regulatory bodies, and the nation's five largest banks. There's a meeting today between HUD officials and an undisclosed number of Democratic AGs or their staffs. Liberal groups are pushing to make this as strong as possible, with lots of activity from New Bottom Line, Color of Change, MoveOn, Rebuild the Dream, and many blogs who have been covering this crisis for years. The expectation is that the Obama administration wants to announce this deal in connection to Tuesday's State of the Union address.

A couple pieces worth highlighting are by Simon Johnson at Politico and Van Jones and George Goehl of NPA at Huffington Post. Johnson makes a strong case against a quick, small settlement (that is, what we are now looking at), noting that "If there is a settlement after all the facts are known, the amount involved would likely be far greater than what is now on the table for robo-signing. Jones and Goehl likewise outline the principles for what a deal would have to do to actually be helpful to homeowners.

But if you're wondering what the reported terms of the deal actually mean and if this is something which should be supported by Democrats or liberals or anyone else, I highly recommend you read Yves Smith's post from this morning at Naked Capitalism. There are lots of reasons in my mind to oppose the deal as it's been reported, but perhaps none greater than this:

The story did not outline terms, but previous leaks have indicated that the bulk of the supposed settlement would come not in actual monies paid by the banks (the cash portion has been rumored at under $5 billion) but in credits given for mortgage modifications for principal modifications. There are numerous reasons why that stinks. The biggest is that servicers will be able to count modifying first mortgages that were securitized toward the total. Since one of the cardinal rules of finance is to use other people’s money rather than your own, this provision virtually guarantees that investor-owned mortgages will be the ones to be restructured. Why is this a bad idea? The banks are NOT required to write down the second mortgages that they have on their books. This reverses the contractual hierarchy that junior lienholders take losses before senior lenders. So this deal amounts to a transfer from pension funds and other fixed income investors to the banks, at the Administration’s instigation. [Emphasis original]

I've yet to see an explanation of why transferring money from public workers' and retirees to major banks is a good idea. There are other large, constitutional issues at play regarding how this deal mandates the breaking of contracts (which again is OK, it seems, as long as it is to benefit major banks), which Smith outlines in her post.

Unless and until the banks are forced to pay legal, economic, social and political costs in connection to their foreclosure fraud and securities fraud schemes, there's no reason to expect them to treat homeowners an better and there's no reason to expect that a similar crisis will not happen again in a few years' time. Of course, a deal like this being driven by the Obama administration clearly belies the notion that there would be any meaningful federal investigation by law enforcement with an eye towards criminal prosecution. The only hope for criminal prosecution is with a handful of Justice Democrat AGs (Eric Schneiderman in New York, Catherine Cortez Masto in Nevada, Martha Coakley in Massachusetts, Beau Biden in Delaware, and Kamala Harris in California, to name a few). These investigations become even more critical in the face of a deal that would dramatically curtail the banksters civil liabilities. If you can't change their behavior by forcing a huge cost for their crimes, putting executives in jail becomes even more important as a means of stopping this from happening again in the future.

One can only hope that AGs continue to balk at the deal being pushed by the Obama administration to forestall them from moving it forward. We should know in the next 36 hours whether or not this will happen as described.

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GOP Sen Grassley’s twitter account hacked by Anonymous over SOPA, PIPA

UPDATE: They set up a new password so Grassley's office can't fix it.

Right now. Sure looks like it. (H/t to EmptyWheel)

It's still going on.

And more:

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Unanimous Supreme Court says cops need a warrant to secretly put GPS on your car

Wow. I'm actually surprised. Here's the decision. And there's our Justice Department:

The Justice Department had argued that drivers do not expect their movements on public streets to be kept private, no matter the duration, so GPS tracking should not fall under the Fourth Amendment protections regarding searches and seizures.

Sounds like a recipe for stalking. Wonder how they'd feel if it were their family, their spouse, their kids, being followed around by some weird guy saying "hey, you don't expect any privacy when you're kids are walking in public to school."

A lot of our lives are now public because of new technology.  While we may expect less privacy as a result, it doesn't mean we deserve less.  Or that the government should be permitted to take advantage of it.

Sotomayor raises another important point:

Sotomayor, who fully joined Scalia's opinion, suggested in a separate concurring statement that she agreed with parts of Alito's analysis, which would cover privacy expectations not only when police affix a device but when there's no physical invasion. That could cover when police access signals from a GPS-enabled smartphone.

Right. They can track you on your smartphone too. You consented to have that phone with you, the cops don't even need to enter your physical space to track you. Is that okay, without a warrant? I think not. Read the rest of this post...

Romney says Newt is "erratic," not "stable"

Mmm mmm. Via ABC News:

Mitt Romney continued to attack Newt Gingrich today, calling the former House speaker “erratic” and comparing him to a “pinball machine.”

“I think as you look at the speaker’s record over time, it’s been highly erratic,” said Romney during a press conference following a campaign event in Tampa. “You know, he voted in favor of establishing the Department of Education, and yet he gets in a debate and says we should get rid of the Department of Education and send all the education issues back to the states. He’s opposed vehemently to the Massachusetts health care system, and yet just a couple years ago wrote about what a superb system it was.”

“He’s gone from pillar to post almost like a pinball machine, from item to item in a way which is highly erratic,” said Romney. “It does not suggest a stable, thoughtful course, which is normally associated with leadership.”

It's a smart move by Romney. He hopes to pique Gingrich, tick him off, and just make him all the more crazy on the stump. Read the rest of this post...

IL GOP Senator Kirk suffers stroke

UPDATE: Things aren't as rosy as the initial reports.  From Aaron Blake at the Washington Post:

@FixAaron: Rep. Mark Kirk (R-Ill.) update: They had to remove 4x8-inch section of his skull. Full mental recovery odds "pretty good," per doctor.

@FixAaron: But Kirk sounds as though he will have limited use of the left side of his body, particularly his arm.

HuffPost has it.  It was an "ischemic stroke," and there was swelling around his brain. It sounds like this kind of ischemic stroke, since they appear to have found it in his neck:

An embolic stroke is also caused by a clot within an artery, but in this case the clot (or emboli) forms somewhere other than in the brain itself. Often from the heart, these emboli will travel in the bloodstream until they become lodged and cannot travel any farther. This naturally restricts the flow of blood to the brain and results in near-immediate physical and neurological deficits.

From Mike O'Brien of MSNBC:

@mpoindc: Kirk was "beginning to deteriorate neurologically" on Sunday evening, which precipitated surgery to relieve brain swelling, says doc.

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