Gay Alaskans talk about Sarah Palin

A neat documentary by a Human Rights Campaign staffer who went to Alaska to find out about the real Sarah Palin, and the Wasilla gay community's thoughts:

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"The GOP is desperate. Expect the worst of the worst to start hitting here soon."

In a post chock full of valuable info, Markos makes a very, very important point:

The GOP is desperate. Expect the worst of the worst to start hitting here soon. Jeremiah Wright is overdue for his second act, as well as Ayers, the Muslim crap, and anything else desperate Republicans can fabricate. At this point, they literally have nothing to lose.

We've seen the McCain campaign lie repeatedly. They've got no shame and McCain has no honor. McCain and his fellow Republicans will say anything to win. In fact, Republicans are clamoring for McCain to get even uglier:

John McCain’s fade in recent polls, combined with a barrage of negative news coverage during the financial crisis, has leading Republican activists around the country worrying about his prospects and urging his campaign to become much more aggressive against Barack Obama in the remaining month before Election Day.

A flurry of new polls shows Barack Obama gaining in several battleground states – most notably Florida, Pennsylvania and swing states throughout the West. Officials worry early voting, which is under way in important states such as Ohio, is likely to favor Obama in this toxic political climate.

Several state GOP chairmen in interviews urged the McCain campaign to be more aggressive in hitting Obama’s vulnerabilities, such as his past relationship with the Rev. Jeremiah Wright and other problematic associations from Chicago.

The Politico published that article last night. And, today, Jonathan Martin reported that it's actually started. Read the rest of this post...

McCain's McMansion is for sale

The mansion includes:

10 fireplaces (in the desert, mind you)
13 bedrooms
14.5 bathrooms
13,000 square feet
a wine tasting room
an air conditioned playhouse for the kids
6 car garage
an extra second garage
surrounding the poll 3 ramadas with full size bars
22 flat screen tvs

And don't forget, this is only one of McCain's 12 homes. I especially like McCain's office that sure looks awfully similar to the Oval Office. Seriously, what kind of man designs his office to look like the Oval Office?



Here is the news report video:

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CQ: Obama Makes McCain Very Uncomfortable

That's their headline.

Let the record reflect that Barack Obama made the approach to John McCain tonight.

As the two shared the Senate floor tonight for the first time since they won their party nominations, Obama stood chatting with Democrats on his side of the aisle, and McCain stood on the Republican side of the aisle.

So Obama crossed over into enemy territory.

He walked over to where McCain was chatting with Republican Sen. Mel Martinez of Florida and Independent Sen. Joseph I. Lieberman of Connecticut. And he stretched out his arm and offered his hand to McCain.

McCain shook it, but with a "go away" look that no one could miss. He tried his best not to even look at Obama.

Finally, with a tight smile, McCain managed a greeting: "Good to see you."

Obama got the message. He shook hands with Martinez and Lieberman — both of whom greeted him more warmly — and quickly beat a retreat back to the Democratic side.

Not very presidential. Or mature. Read the rest of this post...

By large margin, Senate passes bailout bill

From Politico:

Treasury’s $700 billion rescue plan for the financial markets passed the Senate Wednesday night, giving the White House new confidence it has turned the corner and can win final approval from Congress by Friday.

The 74-25 roll call endorsing the package featured a rare joint-return appearance by the two major presidential candidates, Sens. Barack Obama and John McCain, both of whom supported the measure.

The Senate galleries, usually empty at night, were packed with visitors on the left and right, and senators voted from their desks as if to underscore the seriousness of the legislation. Shortly before the vote, Senate Minority Leader Mitch McConnell (R-Ky.) tried to capture the moment for posterity, calling this breakthrough “one of the finest moments in the history of the Senate. This is the kind of vote we are sent by our people to cast.”

Majority Leader Harry Reid added that “each United States senator this evening is facing a critical test of leadership.”

A second vote was needed immediately after to complete final passage, but that is not in doubt. The first vote Wednesday night was the bigger test and the administration is betting that with this bipartisan showing, it can marginalize the remaining opposition in the House, due to vote Friday....

[T]he revised Senate package blends in more than $100 billion in popular tax breaks as well as aid to rural schools important to House Republicans. And to build support among small town community banks, the bill raises the cap on insured deposits from $100,000 to $250,000.

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In June, Sarah Palin disagreed with the Exxon Valdez decision issued by the U.S. Supreme Court. Tonight, she couldn't name one case.

As John noted below, in the latest installment of "The Blithering Idiot talks to Katie Couric," Sarah Palin couldn't name a single Supreme Court, other than Roe, with which she disagreed. Couldn't name one.

But, in June of this year, Governor Palin expressed outrage over the Exxon Valdez case, which was decided by the U.S. Supreme Court JUST FOUR MONTHS AGO. A case affecting Alaska. And a case about energy, her signature issue, her BEST issue, McCain keeps telling us.

From Gov. Sarah Palin:

"I am extremely disappointed with today's decision by the U.S. Supreme Court," Palin said. "While the decision brings some degree of closure to Alaskans suffering from 19 years of litigation and delay, the court gutted the jury's decision on punitive damages."

She's a blithering idiot. This was an Alaska case. And, at its core, the case is about energy, which is her supposed expertise - remember, John McCain said she knows more about energy than anyone in America.

Wow. Read the rest of this post...

Palin thinks there's an inherent right to privacy in the US Constitution

She's a blithering idiot. She just contradicted every conservative in the country and overruled her own views on abortion. Watch this video, the full video, from CBS, showing Biden answering the Supreme Court question, then showing Palin answering it. Biden is brilliant. Agree with him or not, the man has a brilliant mind. Then watch Palin's answer to the same question.

UPDATE: Josh Marshall weighs in as well:

[T]he right to privacy, as Couric says in the interview, is one of the cornerstones of Roe. And in the public debate yes or no on the right to privacy is something pretty close to a proxy for your position on abortion rights.

The bottom line is that among conservatives opposition to a constitutional 'right to privacy' is a straight-up litmus test issue. Palin not only didn't have the right answer on the right to privacy. It was pretty clear she'd never even heard of it before.

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A doctor weighs in about McCain's facial ticks and confused behavior today

Because John McCain won't give the American people full access to his cancer records, and the media doesn't seem to want to ask why McCain has become increasingly erratic of late, including showing facial ticks or spasms moments before exhibiting confusion, we've resorted to asking doctors to talk us through what we may be seeing. Here is an email from one doctor I received today (I've confirmed that this person is a real MD):

I would like to say something about the facial tics and twitching before I approach your video today. His left eye seems to have a significant tic or twitch much of the time. It is on the same side as his surgery to remove a melanoma - as you can see by the scar. Senator McCain may also have had radiation to the area during his treatment. There are two critical facial nerves that go right through that area - Cranial Nerve V and Cranial Nerve VII. Either one of those could have been damaged by the surgery and or radiation - and cause what we see today. Looking at his face and his scars - it appears that he had rather extensive exculpation - and this would not be an uncommon outcome. It would be interesting to actually examine him to see if there were any other deficits - because just looking at videos is complete educated guesswork.

Now - about the events of the day. I actually viewed the bumbling around the stage episode on TV while I was leaning over a patient today - and was somewhat concerned. In light of the fact that this occurred just seconds after the facial issues that you documented in the other video is very very disturbing. Let me put it like this. If I had seen a 70-75 year old man do that in front of me in the emergency room - that gentleman would be immediately admitted for what is known as a TIA. This is a mini-stroke that often comes before a big huge one. It is likely that if this occurred - Senator McCain may have realized something was wrong - and immediately began looking for an exit. This bumbling lost behavior followed by the initial onset of the symptoms is very commonly described by family members witnessing such events. Regardless, he should be admitted to the hospital for observation - ruled out for strokes with tests - and possibly be immediately begun on certain meds to attempt to abort any other such attacks. I have not been able to find video of his speech patterns around the time of the facial problems today - it would be interesting to note if there were any changes. If it does turn out to be a TIA - the patient would need further evaluation to note if his carotid arteries are blocked.

I showed this video to 3 colleagues today - AND a neurologist - all of us agreed - this is concerning and should be immediately evaluated. It is, however, impossible to make medical diagnosis via a video - unless you are Bill Frist or Tom Coburn. I would caution you to be careful about making any insinuations about his medical condition based on just that alone. However, I am concerned enough about what I saw of Senator McCain today that he should be seeing a doctor immediately.

Just talked to two more buddies - again - they totally agree - one of whom is ardent McCain supporter.

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Blithering Idiot Watch, Part IV

Palin on the Supreme Court

COURIC: What other Supreme Court decisions [than Roe v. Wade] do you disagree with?

PALIN: Well, let's see. There's --of course --in the great history of America rulings there have been rulings, that's never going to be absolute consensus by every American. And there are--those issues, again, like Roe v Wade where I believe are best held on a state level and addressed there. So you know--going through the history of America, there would be others but--

COURIC: Can you think of any?

PALIN: Well, I could think of--of any again, that could be best dealt with on a more local level. Maybe I would take issue with. But you know, as mayor, and then as governor and even as a Vice President, if I'm so privileged to serve, wouldn't be in a position of changing those things but in supporting the law of the land as it reads today.

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Two sets of state polls show movement for Obama

Latest polls in key states are looking good. Obama clearly has the momentum in these battleground states. We're starting to see the movement at the national level reflected in the state polls. And, as we all know, it's the states that matter.

CNN via TPM Election Central:

• Florida: Obama 51%, McCain 47%, with a ±3.5% margin of error.

• Minnesota: Obama 54%, McCain 43%, with a ±3.5% margin of error.

• Missouri: Obama 49%, McCain 48%, with a ±3.5% margin of error.

• Nevada: Obama 51%, McCain 47%, with a ±4% margin of error.

• Virginia: Obama 53%, McCain 44%, with a ±4% margin of error.

Quinnipiac (Nate Silver has an excellent (as always) analysis of these polls, in which he notes "The McCain camp is going a little crazy over these polls."):



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Is there a doctor in the house?

Are any of you doctors and/or experts in oncology?

I've been reviewing a new Web site that details John McCain's medical records concerning his various bouts of deadly melanoma skin cancer. And I'd appreciate having some readers who are doctors, or cancer specialists especially, weighing in regarding what this all means. You can find my email address at the top of this column, where I ask you to send me tips - or you can post your analysis in the comments.

Here is what I'm curious about.

1. Overall, I'd like some real doctors to review the information in the site and give me their analyses of how serious McCain's cancer was, is, and some day may be.

2. You'll note in the Web site that I link to that there is an issue as to whether McCain's cancer really was stage 2, as he claims, or the far more deadly stage 3. Is the controversy legit? Is there sufficient evidence presented to call into question the diagnosis as stage 2?

3. The site says:

The overall survival rate for Stage IIA melanoma, not considering thickness of the tumor or other characteristics, was approximately 80 percent at five years after surgery and approximately 60 percent at ten years after surgery...

I'd like a doctor to walk us through this. McCain's most dangerous melanoma was diagnosed in August 2000. Does this survival rate data mean that McCain had, and STILL HAS, only a 60% chance of surviving until the year 2010? Do his chances get any better now that he's survived 8 years after the surgery and diagnosis?

It's disturbing that I even need to ask these questions. But unfortunately, the McCain campaign has refused to reveal the details of McCain's medical records in any meaningful way. As you may recall, McCain finally released 1,173 pages of medical records, all jumbled up, for a period of 3 hours. He didn't actually release them at all. He invited a small, select group of reporters - among them only one doctor - to peruse the records and take notes, but they were not permitted to remove or copy anything.

Now, how effectively can someone review 1,173 pages - pages that are in a jumbled order, so that a multi-page report is scrambled throughout the entire 1,000+ pages - in only 3 hours? (And I'm not even counting the additional 1,500 pages of records that were also there from McCain's previous presidential run in 2000.)

Think of it this way. 1,173 pages in 3 hours is equal to reading 391 pages of medical records in one hour. That's equal to reading 6.5 pages every minute, or one page every ten seconds or so. Yes, if those reporters sat down for 3 hours, took no breaks for water or food or bathroom, and took no notes, they would have only ten seconds per medical document. And mind you, that means that every ten seconds they'd have to flip a page, and then another, and another and another. If they took notes, then that would cut the time down to even fewer seconds per page.

For fun, I set a timer for ten seconds and read as much as I could on a random Web page. I got to 75 words in those ten seconds, or five lines of text (try it yourself). Yes, McCain gave the reporters enough time to read only 5 lines of every page of his medical records, and that's assuming they took no notes. This is a farce, and it's amazing the media even agreed to it.

Thus, I'm asking if there's a doctor in the house because McCain has been behaving erratically, he's been getting confused of late, and just today we noticed his face going into spams, or mini-strokes, or something. The public deserves answers before we get President Palin overseeing the economic crisis and the war in Iraq. Read the rest of this post...

FactCheck.org on Palin rape kit story: 'Unlike some claims about Palin, this one has some merit'

FactCheck,org has looked at the story about Palin's town charging rape victims for their rape kits and forensic exams and found that: "Unlike some claims about Palin, this one has some merit..."

Remember, as I've mentioned before about this story, two issues are key. 1) Sarah Palin keeps commenting on just the "evidence gathering" part of the exam, but says nothing about whether she support public financing of rape victims getting emergency contraception or AIDS drugs. 2) We keep hearing that her town would charge the rape victims' insurance companies "when possible" - putting aside what happens when it's "not possible," whoever heard of an insurance company picking up 100% of an emergency room visit with no co-pay and no deductible? These women clearly had to pay even if their insurance picked up some of the tab. Read the rest of this post...

Ifill Book Public Weeks Before McCain Agreed To Have Her Moderate VP Debate

John McCain must be demented if he chose Gwen Ifill to moderate the vice presidential debate WEEKS AFTER she had announced she was doing a book about race in America in the Obama age, but now, 24 hours before the debate, McCain is suddenly upset about Ifill's book.

He wasn't upset about it two months ago when he PICKED Ifill to be the moderator. But now he is. 24 hours before the debate, when it's too late to do much other than cancel the debate. Isn't that interesting.

It's one more example of John McCain's erratic behavior, behavior that is getting more and more confused and incomprehensible.

Is McCain's strange behavior related to the mysterious physical malady we reported on earlier today (many thought it looked like a mini-stroke, but others have suggested it could be a reaction to Alzheimer's medicine) - and don't forget, AP reported yesterday (see article at bottom right of page) that there is a one-in-four chance that McCain, who is 72 years old and has had 4 serious bouts of melanoma skin cancer, will die during his second term. Or is it simply John McCain makes a desperate move to shut down the debate now that his rash choice for vice president has proven herself to be a blithering idiot?

Remember, just last week McCain tried to shut down the VP debate due to the economic crisis. And now it's Gwen Ifill "suddenly" being biased, when McCain himself chose her two months ago.

Let this be a warning to everyone in the media. John McCain will destroy your reputation, if it will get him one step closer to the White House.

Oh, and one final point. Drop Ifill. I don't care. Pick Judy Woodruff instead. Just don't pick a man instead, because that's what McCain wants. I suspect McCain believes a man will be nicer to Palin than a woman would be, or McCain wants a man asking the hard questions, so it will look like two mean men beating up the poor helps future commander in chief of the United States Armed Forces. Don't give McCain the pleasure. Pick another woman and be done with it. And watch Judy eat her alive.

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Planned Parenthood's new ad about rape kits

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Lending system locking up

People from all sides are coming out strongly in favor of finishing up the rescue package. Professor Stiglitz gives a great interview on CNBC about the frozen credit market (as well as an alternative rescue plan that may come back around in the future) and former GE CEO Jack Welch is on ABC. Neither is ecstatic with the details of the bailout but both also appreciate the need for urgent action. It's what we have for now and until Congress takes action, the credit market between banks is going to deteriorate even more. As John posted yesterday, the Libor rate is jumping as banks hunker down and hoard cash. For any stabilization, let alone recovery, money needs to move through the system.

Wishing this problem away or thinking that we can weather this is foolish. I can tell you from my own business experiences in recent months, this past quarter has been about as ugly as I can remember. Businesses both large and small are not spending and not hiring. Everyone is waiting to see what will happen and that means business is at a standstill until the direction is clear. Today, it's anyone's guess and those conditions are deadly to business activity.

From the Washington Post:

Yesterday, the annualized rate for those overnight loans spiked by more than four percentage points, to 6.9 percent, its highest level ever. Normally, Libor on dollar loans is not much higher than what it costs the U.S. government to borrow short-term money, which yesterday was nearly zero.

That tells experts that banks around the world are basically unwilling to lend to each other at any price. It means that cash is not flowing to places that need it. And, if sustained, would ultimately lead to higher borrowing costs for ordinary U.S. households and businesses.

"The interbank markets are a fundamental part of the plumbing of the financial world," Dennis Lockhart, president of the Federal Reserve Bank of Atlanta, said in a speech yesterday. Many variable-rate mortgages, corporate loans, and other forms of debt adjust relative to Libor.

"This contraction in availability and rise of the cost of credit have worsened . . . for corporate and business borrowers," Lockhart said. "We've heard anecdotes confirming this from contacts throughout the Southeast. In short, Main Street is being affected."

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Slow-motion video of McCain's facial convulsion

Here is the video from today's speech, in slow motion, making it painfully clear that something is physically wrong with John McCain. More on this in our post below. (If the video isn't working, give it a second, YouTube may still be processing it.)

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McCain gets lost on stage at event just now

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McCain: I've turned to Palin for foreign policy advice many times in the past

On NPR this morning:

NPR: Given what you've said Senator, is there an occasion where you could imagine turning to Governor Palin for advice in a foreign policy crisis.

MCCAIN: I've turned to her advice many times in the past, I can't imagine turning to Senator Obama or Senator Biden cuz they've been wrong, they were wrong about Iraq, wrong about Russia...

NPR: But would you turn to Governor Palin?

MCCAIN: I certainly wouldn't turn to them, and I've already turned to Governor Palin particularly on energy issues and I've appreciated her background and knowledge on that and many other issues.

NPR: Does her energy qualification extend to the international energy market?

MCCAIN: Of course. Of course. That's what it's all about. It extends to a broad variety of issues from her worldview to threats that we face, to radical Islamic extremism, to specific areas of the world. I'm very proud of her, and proud of the knowledge and background that she has.

Yeah, right, Joe Biden doesn't hold a candle to the woman who's read most of the newspapers and magazines in the world. And McCain has turned to her for sage foreign policy advice "many times in the past"? He's known her a month. Please do tell, what areas, plural, of foreign policy expertise did John McCain get schooling in the past month from Sarah Palin? McCain said it's happened "many times" - so give us two examples please. And he turns to her for advice on her world view on radical Islamic extremism? Oh please, her expertise in the Middle East is limited to taking a taxi in Anchorage from a guy named Ahmed. And her expertise in particular areas of the world? She just got her passport last year - what areas of the world is she an expert on, and more of an expert than John McCain? The great threat from radical Canadian extremism?

Once again the question arises: lying McCain or demented McCain? Read the rest of this post...

Sarah Palin doesn't know much about a lot of things. But, Sarah Palin knows how to debate.

Joe Biden is screwed at tomorrow night's debate. He knows too much. That's a disadvantage when debating Sarah Palin.

I found three articles today discussing Palin's debating prowess. She's proven to be quite adept at the debating game. She plays it well.

All of this background poses a challenge for the punditry. There's a strong tendency among the talking heads to low-ball expectations for Palin. Some seem to think if Sarah Palin can say her name, she wins. The McCain campaign is counting on those low expectations tomorrow night.

Remember, John McCain thinks Palin is ready to be president. That should be the test.

Los Angeles Times:

But as time went on, Palin increasingly managed to zero in on the policy issues set before her during debate preparations, and her comfort level rose dramatically. During two final debates broadcast by Alaska public television and an Anchorage news station, Palin appeared to ace her performances, deftly crystallizing her talking points for voters.

Wall Street Journal:

There are two things people here remember about Sarah Palin's debating style during her race for governor two years ago.

One is the stack of color-coded cue cards she took to the podium for help whenever she was asked a policy question. The other is how quickly she was able to shuck those props, master the thrust-and-parry of jousting with her opponents and inquisitors, and project confidence to an audience of television viewers watching from home.

"That's the Sarah Palin I remember from the 2006 debates: positive, confident and upbeat," recalls Libby Casey, an Alaska public-radio reporter who served as a debate moderator on two occasions that year.

Politico:

In 2006, with no experience as a statewide officeholder, Palin ran what amounted to a debate gauntlet, beginning in the Republican primary against incumbent Gov. Frank Murkowski and former state Sen. John Binkley, and then in the general election, against former Democratic Gov. Tony Knowles and former state Rep. Andrew Halcro, an independent.

Against that experienced opposition, Palin proved herself to be a comfortable and confident debater, not exactly deeply versed in the issues but unusually adept at dodging controversy and quick to take advantage of opponents' missteps. Not one to throw an unnecessary punch, Palin took a patient approach, waiting for her rivals to expose their weak points - and then striking fast.

See for yourself in this compilation prepared by Jed Lewison (from his new perch at Huffington Post):
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Why is Sarah Palin using hedge words about the rape kit issue?

I'm a lawyer. The McCain campaign people writing Sarah Palin's response to this written interview are also likely lawyers. We choose our words carefully. With that in mind, why does Sarah Palin keep responding to this rape kit issue (the charge that her city charged rape victims for their own rape kits and rape exams) with an answer talking about "evidence-gathering tests"?

Rape kits and rape exams aren't just comprised of "evidence gathering." They also often include administering emergency contraception to make sure the rape victim doesn't have to give birth to her rapist's child.

So, while it is interesting to know that Palin doesn't support charging rape victims for "evidence gathering," how does she feel about charging for the non-evidence-gathering aspect of the rape kit and the rape exam - administering the morning after pill? She never tells us. But she always gives a craftily worded answer that makes us THINK she answered the question, when she really hasn't. So how about some real answers before we make a woman president who would punish rape victims for their crime committed against them?

ThinkProgress has her latest craftily written non-answer:

Q: During your tenure as mayor in 2000, then police chief Charlie Fannon commented in a May 23, 2000 Frontiersman article about legislation Gov. Tony Knowles signed protecting victims of sexual assault from being billed for rape kits collected by police as part of their investigations. Fannon revealed then that Knowles’ decision would cost Wasilla $5,000 to $14,000 a year, insinuating that the department’s policy was to bill victims for this testing. During your tenure as Mayor, what was the police department and city’s standard operating procedure in recovering costs of rape kits? Were any sexual assault victims ever charged for this testing while you were mayor?

A: The entire notion of making a victim of a crime pay for anything is crazy. I do not believe, nor have I ever believed, that rape victims should have to pay for an evidence-gathering test. As governor, I worked in a variety of ways to tackle the problem of sexual assault and rape, including making domestic violence a priority of my administration.

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McCain at the Des Moines Register: "combative and at times surly"

Okay, not really fair to subject everyone to angry John McCain so early in the morning. But, watch excerpts from his interview with the Des Moines Register Editorial Board. Jonathan Martin at Politico describes it this way:

An emphatic, combative and at times surly John McCain today tangled with the Des Moines Register editorial board over his running mate, the nature of his campaign and whether he can appreciate the health care needs of Americans.

The paper posted a series of clips from the session on their website.

It's a hard-edged McCain that is rarely seen on film

Facing questions from liberal-leaning editors -- though ones that endorsed his candidacy before the caucuses -- McCain offered a robust defense of Sarah Palin.

"So, with due respect, I strongly disagree with your premise that she doesn't have experience and knowledge and background," McCain said after listing Palin's qualifications. "I fundamentaly disagree and I'm proud of her record."

This is the real John McCain. He looks like he's ready to blow his top. This guy does not have the temperament to lead America. Following the negative reaction to his angry behavior at the debate, you'd think McCain would be on his best behavior. (You'd have thought he'd have been on his best behavior at the debate, too.) The guy can't control his temper.


Hat tip, Bryan Lefwitz for leading me to the YouTube video. Read the rest of this post...

Wednesday Morning Open Thread

Good morning.

Tomorrow's the big night for Sarah Palin. The McCain operatives are furiously working on two competing tracks. One group is trying to train her. The other group is trying to spin the expectations. No matter what happens tomorrow night (and Palin is a formidable debater), John McCain's choice for second-in-command is not prepared to be president. It's not much more complicated than that. He put politics ahead of the nation.

Tonight, the Senate will vote on the bailout/rescue package, probably early evening. But, it is the Senate and those folks like to talk. Life will be so much easier if the Democrats get to 60. It's not out of the realm of possibility.

Never a dull moment... Read the rest of this post...

Local governments cutting back due to credit crisis

It's impossible to think that the fallout from Wall Street's casino culture would not impact everyone from retirees to small business to local cities and beyond. Even over here in Europe, there are still some who continue to suggest that (fill in the country of your choice) will somehow - magically with the wave of a wand or an invisible wall - avoid being hit hard by this. We are all so deeply interconnected and just as it was during previous recessions, the fallout will spread. Whether we like it or not, it is the reality that we're all stuck with for a while. My hope is that we learn a few lessons and start making changes to our regulations and tax code to encourage growth for everyone and not just a few as well as more balance in the way we do business.

Billings, Mont., is struggling to come up with $70 million more for a new emergency room. And Maine has been unable to raise $50 million for highway repairs.

“We really are in terra incognita here,” said Robert O. Lenna, executive director of the Maine Municipal Bond Bank, which helps that state’s towns and school districts raise money. He said he had worked in public finance for 34 years and had never seen credit evaporate so completely.

Maine had already begun some of its road work when the bond markets stopped functioning, so now it is scrambling for bank loans to keep the dump trucks rolling. If money does not start flowing soon, Mr. Lenna said, Maine will have to cancel some of its road and bridge projects.

The only alternative would be what New York City did on Monday: Go into the locked-up markets and whip up demand by offering to pay investors a very high return.

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Will today mark the decline of hedge funds?

The hedge fund market told everyone for years what great value they brought to the market. They brought billions into the market, sure, but it was other peoples money and highly leveraged. Hedge funds also took advantage of massive loopholes in the tax code so that the both the hedge fund business and the hedge fund money managers had an easy ride. The bulk of the annual compensation for hedge fund managers is taxed at 15% - yes, 15% - which I'm guessing is lower than most others in America pay. Through their lobbyists such as Gorver Norquist, they have managed to skirt taxes because of the fantastic value they bring to the system. That value has never been obvious to me, especially since it's so highly leveraged. Compete with the same rules, regulations, tax code as everyone else and then let's talk.

So why is today so important for hedge funds? With the marketing trending downward and little sign of recovery in the next year or two (at least) many people who invested millions are seeking a safe haven for their cash or even just the cash itself due to other losses. Today is the day those investors can pull money out. It's also likely that this free riding sector will be examined more closely in the not so distant future with the goal of bringing them inline with other tax rates. None of this could happen quickly enough. The hedge funds have added liquidity but it's safe to say now that this experiment in preferential tax rates and unregulated investment has not delivered what it promised. Everyone else in America is going to pay their share of this failure, so let them pay too.

Funds managers around the world said they are sitting on record levels of cash to meet an expected flood of "I want my money back" notices on Sept. 30 -- the end of another month of horrible industry performance and the deadline for most funds offering monthly and quarterly redemptions.

"This is not like flicking a light switch," said Timothy Mungovan, a partner who advises hedge funds at law firm Nixon Peabody LLP. "It is more like a bowling ball careening down an alley where we don't know if it will go down the gutter or be a strike and take out several big funds."

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Now this is one serious animal lover

I really needed to see a nice story like that after the crazy days lately. Maybe he should run for Congress since there is such a severe lack of courage these days. (A lack of patriotism as well. Choosing safe re-election over the health of your country?) Read the rest of this post...

Chamber of Commerce targeting "no" voters in Congress

But mostly, they are targeting the Republicans who they thought were their friends. Who could ever imagine the US Chamber of Commerce targeting Republicans? This only shows how far out of the mainstream the GOP has become with a little help from John McCain.

When the $700 billion Wall Street rescue plan went up in smoke on Monday, House Republicans who opposed it immediately got a threatening e-mail — from the U.S. Chamber of Commerce.

“KEY VOTE ALERT!” the headline read in GREAT BIG PRINT.

“Make no mistake: When the aftermath of congressional inaction becomes clear, Americans will not tolerate those who stood by and let the calamity happen,” it continued.

“The Chamber will score votes on, or in relation to, this issue in our annual How They Voted scorecard,” read its closing, underlined and bold-printed final sentence.

The implicit threat: A bad rating on that scorecard could mean a loss of campaign cash, direct mail and any other help the deep-pocketed Chamber can deliver to lawmakers in tight races.

To be fair, the alert was delivered to all lawmakers. But it carried its biggest sting in the Republican caucus, which has long relied on the Chamber for political support.

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Russian stock exchanges halt trading again

Monday was a very bad day for trading in Russia and Tuesday regulators stopped trading for the third time in September. The more instability we experience in global markets, the deeper this recession will become around the world. The House Republicans do not seem to grasp the need for calm in the markets both in the US and the world, who are following closely. Read the rest of this post...

Richard Cohen warns of the Cultural Depression that may be heading our way

Methinks Mr. Cohen should have been doing a little less defending of the administration that brought us this current disaster. In any case, he raises an intriguing, and depressing, and worrisome point:

Much has been made of the so-called culture wars here in America. The McCain-Palin ticket represents one culture and Obama-Biden another. But this clash is not about culture per se -- otherwise, how could the mother of an unwed pregnant teenager be the conservative while her opponents, as conventional as Saturday night at the VFW, are the liberals? No, it's really about outlook. Barack Obama's people feel they have control over their lives. Sarah Palin's people do not have a similar confidence.

This is why the Republican National Convention made war on the media. This is why Palin frequently has referred to "the pollsters and the pundits." These were the hidden manipulators of the culture and the economy, part of the often-invisible elitists who made it so bad for everyone else. They controlled the culture, the smut that came into one's home on the TV set and what was playing at the multiplex. They owned the banks and the newspapers and the TV networks -- and it didn't matter that their name could be Rupert Murdoch and they could be deeply conservative. As Don Quixote knew, "facts are the enemy of truth." Hard times are hard on truth.

The Great Depression was not just a period of wholesale unemployment and incredible poverty -- of bread lines and apple-peddlers and women selling brief intimacy for 10 cents a dance. It was also the period of Hitler and Mussolini and, in this country, of Huey Long and Father Charles Coughlin, and the belief among otherwise sane people that communism was the remedy for what ailed us. An economic crisis is like war. It's impossible to contain. It affects everything it touches.

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Sarah Palin's Facebook page

I laughed out loud, repeatedly.

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