How many more "clarifications" is Facebook going to deliver?

Facebook is beyond annoying in every possible way. If they have to continue explaining why they're not trying to steal your own life data, maybe it's time to move on. Go away already.

Tens of thousands of Facebook users are protesting new policies that they say grant the social-networking site the ability to control their information forever, even after they cancel their accounts.

Facebook's new terms of use, updated Feb. 4, largely went unnoticed until the popular consumer rights advocacy blog Consumerist.com pointed out the changes Sunday.

That prompted a clarification from Facebook's founder, Mark Zuckerberg, although the new terms remain in force. Zuckerberg told users in a blog post Monday that "on Facebook, people own their information and control who they share it with."

Note from Joe: I think the bigger danger with Facebook is the increasing number of Facebook's version of chain emails, e.g. 25 things. Read the rest of this post...

Obama is sending 17,000 more troops to Afghanistan

Obama is trying to clean up the mess in Afghanistan left behind by George Bush. You may remember that instead of finishing the war in Afghanistan, George Bush lied to the American people and started a war in Iraq.

First, the statement from the President:

There is no more solemn duty as President than the decision to deploy our armed forces into harm’s way. I do it today mindful that the situation in Afghanistan and Pakistan demands urgent attention and swift action. The Taliban is resurgent in Afghanistan, and al Qaeda supports the insurgency and threatens America from its safe-haven along the Pakistani border.

To meet urgent security needs, I approved a request from Secretary Gates to deploy a Marine Expeditionary Brigade later this spring and an Army Stryker Brigade and the enabling forces necessary to support them later this summer. This increase has been requested by General McKiernan and supported by Secretary Gates, the Joint Chiefs and the Commander of Central Command. General McKiernan’s request for these troops is months old, and the fact that we are going to responsibly drawdown our forces in Iraq allows us the flexibility to increase our presence in Afghanistan.

And, the take from the New York Times:

President Obama will send an additional 17,000 American troops to Afghanistan this spring and summer in the first major military move of his presidency, White House officials said on Tuesday.

The increase would come on top of 36,000 American troops already there, making for an increase of nearly 50 percent. In issuing the order, Mr. Obama is choosing a middle ground, addressing urgent requests from commanders who have been pressing for reinforcements while postponing a more difficult judgment on a much larger increase in personnel that the commanders have been seeking.

Read the rest of this post...

Bad credit continues to grow

This is yet another reason why we are not yet seeing the end of the recession or the problems with the banks. Problems such as failing credit will only grow as more people lose their jobs and/or their houses.

Capital One said defaults on its U.S.-issued credit cards rose in January as unemployment soared, sending the company's shares down 17.5 percent.

Two analysts said Capital One might have to cut its dividend in 2009 — only one year after a 14-fold increase — as growing credit losses and the need to set aside money to cover those losses are expected to dent its profits.

In a regulatory filing on Tuesday, the company said the annual net charge-off rate— a measure of credit default — for U.S. credit cards rose to 7.82 percent in January from 7.71 percent in December, while the rate for loans at least 30 days delinquent increased to 5.02 percent from 4.78 percent.

The McLean, Virginia-based company said it expects loan losses from U.S. cards to increase to 8.1 percent in the first quarter.

In auto loans, Capital One's charge-off rate rose to 6.09 percent in January from 5.93 percent in December.

"The credit quality metric that Capital One posted this morning were representative of the deteriorating economic backdrop," said David Long, an analyst at investment bank William Blair.

Read the rest of this post...

SEC files charges in another "massive" fraud

There seems to be no end in sight with such cases. As the economy continues to decline, it won't be a surprise to see more of these cases that have fallen apart due to the credit crisis. A bit of oversight won't help the scams either. Are the Republicans still promoting business self regulation or are they hiding from that position now as well? CNNMoney:

The Securities and Exchange Commission said Tuesday that it has charged financier R. Allen Stanford and three of his companies with orchestrating an $8 billion investment fraud.

The SEC's complaint alleges that the fraud centered on a CD program in which Stanford International Bank promised "improbable and unsubstantiated high interest rates."

SIB, based in Antigua, allegedly acted through a network of Stanford Group Company financial advisers to sell approximately $8 billion of "certificates of deposit" to investors.

The bank boasted a unique investment strategy that it said allowed it to receive double-digit returns on its investments for the past 15 years, the SEC said.

"We are alleging a fraud of shocking magnitude that has spread its tentacles throughout the world," Rose Romero, director of the SEC's Fort Worth regional office, said in the statement.

Read the rest of this post...

Dow drops almost 300. White House won't "foreclose" another stimulus.

Yikes:

The Dow Jones industrial average .DJI fell 297.81 points, or 3.79 percent, to 7,552.60. The Standard & Poor's 500 Index .SPX gave up 37.67 points, or 4.56 percent, at 789.17. The Nasdaq Composite Index .IXIC lost 63.70 points, or 4.15 percent, to 1,470.66.

Wall Street's slide pulled the S&P; 500 and Dow to their lowest levels since November 20, when stocks hit 11-year lows. Just before the end of the session, the Dow briefly broke through its bear market closing low that was hit on November 20.

The day's losses brought the Dow down 13.9 percent since the start of the year, while the S&P; 500 is down 12.6 percent and the Nasdaq has fallen 6.7 percent.

And, not a minute too soon, the President signed the American Recovery and Reinvestment Act into law today in Denver.

On the way to Denver, White House Press Secretary did a "gaggle" with reporters on Air Force One. (A "gaggle" is D.C. media terms, it's basically a mini-press briefing, which is on-the-record but usually no video.) The White House sends out a transcript. Gibbs wouldn't rule out another stimulus:

Mr. Gibbs, speaking to reporters aboard Air Force One on the way to Denver, said, “I think the president is going to do what’s necessary to grow this economy.” While “there are no particular plans at this point for a second stimulus package,” he added, “I wouldn’t foreclose it.”

Good. If we need it, Obama should do it. My personal economic guru, Paul Krugman, has been calling for a larger stimulus package all along. Today, Krugman warns the entire country is heading the way of California's economic train wreck:

Years of neglect, followed by economic disaster — and with all reasonable responses blocked by a fanatical, irrational minority.

This could be America next.

Obama has to prevent that. Obama knows that. The Republicans will do everything they can to make Obama fail (as instructed by their leader, Rush Limbaugh, who wants Obama and the stimulus to fail.) So, it's good to know another stimulus is a possibility. Read the rest of this post...

Obama to review Bush environmental laws on coal power plants

As much as I may disagree with certain Obama decisions, I have no doubt that we are better off with him in office rather than McCain. The environment is yet another issue where we can find common ground that never would have been possible under a Republican administration, no matter what they suggested during the campaign. MSNBC.com:

The Obama administration on Tuesday agreed to review whether it should regulate carbon dioxide emissions from coal-fired power plants, portending a major reversal of the Bush administration's policy on global warming.

The Environmental Protection Agency granted a petition from environmental groups seeking to overturn a rule that prohibited controls on these emissions under the Clean Air Act.

"This decision stops the Bush administration's final, last-minute effort to saddle President Obama with its do-nothing policy on global warming," Sierra Club lawyer David Bookbinder said in a statement.

"With coal-fired power plants emitting more than 30 percent of our global warming pollution, regulating their carbon dioxide is essential to making real progress in the fight against global warming," he added.

The petition was filed by the Sierra Club, the Natural Resources Defense Council and the Environmental Defense Fund. The groups had sued to overturn the Bush-era rule in court, but said the litigation would now be put on hold as a result of the EPA decision.

Read the rest of this post...

Times are so tough, Romney is selling two mansions

Oh the humanity. Oh right, this has nothing to do whatsoever with the recession. Most Americans can relate to this man of the people who simply wants to sell a few multi-million dollar mansions because the family is growing up. What normal American family would ever have a use for more rooms in holiday retreats because when kids become adults, they never, ever have friends, spouses or new family members.

He has been estimated to be worth in excess of $250 million, but former Republican presidential candidate Mitt Romney may just be belt-tightening along with the majority of Americans.

Romney, the former business whiz and governor of Massachusetts, is looking to unload two of his four mansions, collectively valued in the currently-sour real estate market at close to $10 million.

The more expensive of the two homes is a 9,500 square foot cabin on 11 acres in Deer Valley, Utah, listed at $5.25 million. The property comes complete with 9.5 bathrooms and is entirely furnished with custom-made furniture. The real-estate Web site Zillow.com describes the 10-year-old ski cabin as the "perfect retreat" with "several gathering areas [that] provide enough space for lots of family and/or guests."

Also on the market is the Romneys' chief residence in the posh suburban Boston neighborhood of Belmont, where most home prices run well into the millions. The Romney house, which comes with a tennis court and 2.5 acres of land, has yet to be listed, though the Boston Globe estimates the price will be set at $3 million — $1 million less than what the home was worth 2 years ago.

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Why did Republicans vote against jobs for their states?

I guess if one is a well-paid member of Congress with full benefits and a good retirement package -- and a staff that caters to your every whim, it's hard to grasp that people back home are suffering. But, the Republicans are very proud of voting against the economic recovery package. They've made Rush Limbaugh happy. And, the DC media elite think this was a victory.

So, the question that should be asked of every member who voted against the package is: Why did you vote against more jobs for your state? Why?

The Obama administration prepared a breakdown of the impacts by state at Recovery.gov. I posted the breakdown below (click on each photo for larger image.) It's kind of hard to argue against job creation these days -- unless one is a Rush Limbaugh Republican.

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“Everyone should be abstinent . . . but it’s not realistic at all.”

Bristol Palin already sounds smarter and wiser than her mother:

In her first interview since giving birth to son Tripp, Bristol Palin, daughter of Alaska Gov. Sarah Palin, said it’s not “realistic” to expect abstinence outside of marriage.

“Everyone should be abstinent . . . but it’s not realistic at all,” the 18-year-old told Fox’s Greta Van Susteren, adding that having sex as a teenager had become “more and more accepted now” among people her age.

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In New York, Governor Paterson and his Senate choice, Kirsten Gillibrand, are in political trouble

Following up on the Illinois story below, the political situation in New York doesn't look good for the Governor, David Paterson, or his pick to be Senator, Kirsten Gillibrand. Some Democrats really know how to turn a winning situation into a losing one pretty damn fast. Hillary Clinton's ascension to Secretary of State could have been a great opportunity for Paterson. He blew it.

From Political Wire:

A new Quinnipiac poll finds both Sen. Kirsten Gillibrand (D-NY) and the man who appointed her, Gov. David Paterson (D) trail Democratic primary challengers in 2010.

Attorney General Andrew Cuomo (D) crushes Paterson, 55% to 23%, in a possible gubernatorial primary.

Meanwhile, Rep. Carolyn McCarthy (D-NY) beats Gillibrand in a Democratic U.S. Senate primary, 34% to 24%, with 39% still undecided.

I don't trust Kirsten Gillibrand. I knew she was trouble when I saw former GOP Senator Al D'Amato standing beside her the day Paterson announced the appointment.

Gillibrand has been vehemently anti-immigrant, a position that shouldn't sit well with New Yorkers. She also did an amazingly fast turn around on gay issues in order to secure the appointment. That assuaged some gay leaders, but not me. As a member of the House, Gillibrand wouldn't even co-sponsor the repeal of "Don't Ask, Don't Tell." But, overnight (almost literally), she became a supporter of gay marriage. Just like that. The problem with politicians like Gillibrand, who flip so quickly to be on your side, is that when times get tough, they'll flip again. It really seems like there isn't a set of convictions driving her. There's just raw ambition. I don't mind ambition, I just like it with some core beliefs.

Clearly, Gillibrand is vulnerable. Bring on the primary and let New York Democrats have a debate about what progressive values really mean. Read the rest of this post...

Democratic Attorney General in Illinois wants Burris investigated

Even out of office, Rod Blagojevich continues to wreak havoc. Lisa Madigan joined the criticism of the new Senator, Roland Burris:

Illinois Atty. Gen. Lisa Madigan led a growing chorus of Democratic officials Monday calling for a deeper investigation of U.S. Sen. Roland Burris' explanation about how he was appointed by now-ousted Gov. Rod Blagojevich.

Burris has maintained there was nothing inconsistent between his testimony before state lawmakers and a recently filed affidavit outlining more extensive contact with Blagojevich insiders than he had previously disclosed. But Illinois Republicans pressed their call for a perjury investigation by the county prosecutor in Springfield and on Monday, Democrats expressed increasing discomfort over Burris' evolving explanation of efforts to get the seat.

"This is a particularly frustrating revelation," Madigan said of Burris' recent disclosure that he had contact with five Blagojevich insiders. "I encourage the Sangamon County state's attorney to take a closer look at this in the interest of truth, integrity and transparency."

It is truly phenomenal how badly Blago screwed up this situation. The reason Illinois had a vacant seat was because its junior Senator, Barack Obama, became president -- against enormous odds. Instead of creating a Senate legacy for Obama, Blago created a scandal. And, Roland Burris helped insure that the scandal still has legs. Great work. Read the rest of this post...

The media may love the GOP obstructionist, but the American people don't

You don't get a much better takedown of the DC media elite and Republicans than this. It's a double whammy from Jane Hamsher and Markos. Jane deconstructs the DC media's love of the "GOP obstructionists" and Markos has the research that shows those DC media types are just wrong. This a great way to start the day:

There appears to be a pretty big gap between what DC journalists think Americans think, and what Americans actually think. No better example of this can be found than the "winners" and "losers" that DC media are proclaiming in the wake of the passage of the stimulus bill, and what DailyKos/Research 2000 polling on the subject indicates.

Read Jane's post and look at Markos' polling and analysis. Then, everytime you see one of the talking heads bloviate or the pundits pontificate, you'll know they are just plain wrong. Wrong.

Frank Rich also looked at real research and had a similar analysis on Sunday:

In any event, the final score was unambiguous. The stimulus package arrived with the price tag and on roughly the schedule Obama had set for it. The president’s job approval percentage now ranges from the mid 60s (Gallup, Pew) to mid 70s (CNN) — not bad for a guy who won the presidency with 52.9 percent of the vote. While 48 percent of Americans told CBS, Gallup and Pew that they approve of Congressional Democrats, only 31 (Gallup), 32 (CBS) and 34 (Pew) percent could say the same of their G.O.P. counterparts.

Read the rest of this post...

Tuesday Morning Open Thread

Good morning.

The President signs the economic recovery package today while he's in Denver. What a disastrous presidency already, huh? Obama got passed a very significant piece of his agenda on the schedule he laid out at the price tag he wanted. But, in the bizarro world of the DC media elite idiots, the Republicans were the real winners because they all voted NO to saving the economy. If it weren't for those three wussy Republicans who caved to Obama, the Hill GOPers could have finished destroying the economy as an homage to their former leader, George Bush, and to honor their new leader, Rush Limbaugh.

Obama is wise to get the hell out of DC. This place can really a festering swamp. No one has better techology to telecommute than the President of the U.S.

Let's get this thing started...

Read the rest of this post...

France finally admits legal responsibility for sending Jews to death camps

It's difficult to believe this legal admission has taken this long. Maybe the government has been waiting for that generation to die or maybe it has been too controversial to accept but either way, it's about time.

France's highest court put an end to decades of legal timidity and moral taboo yesterday when it issued a ruling recognising the state's responsibility in the deportation of tens of thousands of Jews during the second world war.

Citing "mistakes" made by the collaborationist Vichy regime, the council of state said the government's share of blame was clear in acts which had not been forced on it by the occupiers and which "allowed or facilitated the deportation from France of victims of antisemitism".

The ruling, which will be recorded in the official state legislative journal, marks the first time any French judicial body has acknowledged in such stark terms the government's role in Nazi-era atrocities.

Calling for a "formal admission of the state's responsibility and of the prejudice collectively suffered", the court said it had concluded that acts such as the arrest, internment and dispatching of Jews to transit camps were clear indicators of the government's guilt. "As they led to the deportation of people considered Jewish by the Vichy regime, the acts and activities of the state ... became its responsibility," it added.

The move was welcomed by historians and Jewish groups, many of whom have expressed disbelief at France's unwillingness to face up to its actions. From 1942 to 1944 a stream of Jews were rounded up by Vichy authorities, and by the end of the war some 76,000 had been deported to Nazi concentration camps. Although under the overall control of the SS, the main transit camp of Drancy, from which 63,000 people were sent to their deaths, was run by Paris's police force.

"It is a decision with which I am content," Serge Klarsfeld, the leading French historian of the Holocaust, told Le Figaro. "France is showing now that she is at the forefront of countries which are confronting their past, which was not the case even in the 1990s."

For those who have flown into Paris and taken the train into the city from Roissy-CDG, you have passed through the Drancy train station which was the primary camp in France. Joelle's great uncle Jean was also sent through Drancy before being tortured on the Hell Trains of July 1944 where he died. Read the rest of this post...

Cambodia begins genocide trial decades late

It's unfortunate that Pol Pot and many others have been able to die in peace after inflicting their terror on millions of people, but better late than never. The Guardian:

A notorious torture centre boss went before Cambodia's genocide tribunal today for its first trial over the deaths of an estimated 1.7 million people at the hands of the Khmer Rouge regime more than three decades ago.

Kaing Guek Eav, better known as Duch, who headed the S-21 prison in Phnom Penh is charged with crimes against humanity and is the first of five defendants scheduled for long-delayed trials by the UN-assisted tribunal. Duch, driven to the hearing in a bulletproof car from a nearby detention centre, intently followed the proceedings in a courtroom packed with some 500 people.

The 66-year-old is accused of committing or abetting a range of crimes including murder, torture and rape at S-21 prison formerly a school where up to 16,000 men, women and children were held and tortured, before being put to death.

"This first hearing represents the realisation of significant efforts to establish a fair and independent tribunal to try those in leadership positions and those most responsible for violations of Cambodian and international law," presiding judge Nil Nonn told the chamber.

It's great that the former head of S-21 has allegedly become a Christian but this does nothing to excuse the brutality that went on there. Thousands of people entered S-21 and less than 20 survived following beatings and torture. A religious conversion does nothing to change what went on at S-21 though it may help the guilty during their final years in prison. Read the rest of this post...

Trump Entertainment files for bankruptcy

The rise and fall and rise and fall of Donald Trump. If nothing else, he's an interesting character to observe because not many people can have any many lives as Trump. Though it's certainly possible, I believe such examples are more difficult to find outside of the US at such a level. The arrogance and bluster of Trump is always a spectacle so it won't surprise me to see him bounce back even stronger in a few years.

Trump Entertainment Resorts, Donald Trump's casino group, filed for Chapter 11 bankruptcy protection on Tuesday, court documents show.

The casino operator had assets of about $2.1 billion and total debts of about $1.74 billion on Dec. 31, 2008, it said in its filing with the U.S. Bankruptcy Court for the District of New Jersey.

Read the rest of this post...

Japanese economy crumbling

This is very bad news for one of the leading economies in the world. Japan has struggled since their own bubble burst a few decades ago and their attempts to recover have never been effective. The government has been inconsistent with its plans and now the economy is falling apart, yet again. Even in the best of times, Japan does not change quickly though the voters are completely disgusted with their government, who now has an approval rate under 10%.

Japan's economy contracted at its sharpest pace since 1974 in its fiscal third quarter, raising the prospect the Bank of Japan may unveil additional stimulus measures this week to combat a darkening economic outlook in the world's second-biggest economy.

The economy shrank 12.7% on an annualized basis in the October-to-December period, or 3.3% from the previous quarter, according to preliminary data released Monday by the Cabinet Office.

The decline was the biggest since a 13.1% annualized contraction in the January-to-March period in 1974.

"The Japanese economy is deteriorating quite rapidly, and such deterioration is penetrating into households," said Barclays Capital economist Kyohei Morita in Tokyo.
Economists polled by Dow Jones Newswires had expected an 11.7% contraction.

Exports were down a record 13.9% on quarter, business investment fell 5.3% and private consumption eased 0.4%.

Could we learn lessons from their failed attempts to recover? Probably. Will Washington bother? Doubtful. Obviously Japan didn't offer enough tax cuts because that's always been the path to recover, according to the GOP and too many Democrats. Read the rest of this post...