Thursday, November 8, 2007

It has Been Reported that Kerik Has Been Indicted

But no official announcement yet.

How it effects the Guiliani campaign, I'm not sure, but I think that our so-called liberal media will be less aggressive about this than they were about the Clinton donor who had an ounstanding warrant.

After all, they basically ignored the dope dealer on Thompson's staff.

Journamalism at NPR

I heard the story today about Hillary Clinton going to a restaurant in in Iowa, and having her picture taken with a waitress, but not leaving a tip on NPR.

The story was untrue, the campaign says that they paid $157, and left a $100 tip, and it was confirmed by the restaurant manager.

So much for Journalism, at least the journalism of David Greene, at NPR.

Update,
NPR has a correction:
Editor's Note: Since this story aired, Hillary Clinton's campaign contacted NPR to say that the campaign paid Maid-Rite a bill for $157 the day of Clinton's visit and left $100 in tip money. NPR contacted Maid-Rite manager Brad Crawford, who confirmed that a bill was paid and tip money was left. Crawford, who was not in the restaurant at the time, said that he believes a campaign staffer left the money with one of his employees, but "where Hillary was sitting, there was no tip left."
How about a little fact checking in the future.

Investors agree: Anything but the dollar

Investors agree: Anything but the dollar - International Herald Tribune.

And it's only going to get worse.

Coverup at the Reagan Presidential Library

80,000 items missing.

If these had been stolen for profit, we'd be seeing them on eBay, and we are not. Someone scrubbed the documents so to remove embarrassing items, perhaps the deal with the Iranians in 1980, or evidence showing that Reagan knew of, and approved of, Iran-Contra.

The number of documents imply one of two things:
  • There is a lot of skullduggery to be covered up.
  • They took more things so that people would not get a good picture of what was stolen.
Or maybe a bit of both.

House Financial Services Committee Approves Mortgage Reform Bill

Well, despite the best efforts of the craven Bush Dogs to kill it, Barney Frank's mortgage reform bill was voted out of committee.

It tightens restrictions on issuing mortgages (a barn door cow thing, but still good), and gives people more options in bankruptcy.

This is why Democrats matter.

Iraqi State Security Plans to Audit/Arrest US Mercenaries Private Security

Iraq Plans to Confront Security Firms on Guns - New York Times
The Iraqi interior minister said Wednesday that he would authorize raids by his security forces on Western security firms to ensure that they were complying with tightened licensing requirements on guns and other weaponry, setting up the possibility of violent confrontations between the Iraqis and heavily armed Western guards.

.....
If anyone here does not think that this will result in all out warfare between the Iraqi security forces and the mercs, I want what you are smoking.

Morgan Stanley Takes $3.7 Billion Writedown

Another brokerage with massive losses.

The problem is that for the past 30 years, due to deregulation, these entities have become too big for the government to allow them to fail, so we will all pay for it.

Another Specter Weasel

Of course, the Very Serious People are claiming that it's a compromise, but it's a weasel.

You see, his "compromise" would make the Federal Government, as opposed to the telcos, the defendants. This allows for wholesale classification, foot dragging, sovereign immunity, and all the other tricks which would guarantee that nothing would come out.

Seriously, this sort of crap is why our government is so f*^%ed up.

Honda to Use Ultracapacitor Tech in Hybrids

Honda will be putting ultracapacitors in their cars in the next few years. They will use it on a fuel cell vehicle to handle demand peaks.

Capacitors have some advantages and disadvantages relative to batteries.

The pluses: hey don't wear out, and they can put out a lot of juice in a short time (they are in camera flashes).

The minuses: They slowly* leak stored energy over time., and they have lower energy density.

The technology is advancing rather quickly, so the disadvantages may decrease.

You could also use the capacitors in conjunction with batteries to go with a higher energy/lower power battere (higher power means lower energy and vice verse),

*Very slowly, as anyone who has gotten knocked on their when they open up a TV that has been in a junkyard for two years can attest.
When I was in school, I was told that a 1 Farad capacitor would be the bigger than a a pick up truck, now there are commercially available ones that are smaller than a thimble.

This is Cool

Wicked cool. Popcorn Popping filmed with a very high speed camera..

Good News! More Pot, Less Opium!

As a result of the Opium eradication efforts in Afghanistan, farmers are switching to Marijuana.

This is development is best summed up by the comment, "The powers that be often forget that people are NOT going to voluntarily starve to death."

Emily's List Endorses Donna Edwards

This is the only the 3rd time that they have endorsed someone who is challenging an incumbent Democrat.

Go to Matthew Saroff's Act Blue Page, and show her some love.

Signs of the Apocalypse: Hillary Clinton Being Very Funny.

This is not something I would expect Hillary to do
An Arkansas lawyer recalled a story about Hillary from her days at the Rose Law Firm that demonstrated her sense of humor. Someone at her firm had made off with a slice of pizza she had put aside for later, prompting her to send a firm-wide memo which said, “Who took the evidence she was saving for a poisoning trial?
Funny and sick...A sense of humor after my own heart.

Wednesday, November 7, 2007

Fannie, Freddie loans under review by NY AG - Nov. 7, 2007

6 days ago, I noted Andrew Cuomo's investigation of collusion between banks and property assessors.

Now, he has expanded the investigation to include Fannie Mae and Freddie Mac.

I think that we are going to find that corruption was the rule, not the exception, in the real estate bubble, at all levels.

Fed Governor Says Small Business Can Still Get Credit

If credit for small business has not dried up because of the ongoning debacle on Wall Street, why has he felt compelled to deny it?

Methinks the lady doth protest too much.

Charges against Jena 6 defendant reduced

The prosecution dropped the attempted murder charge.

At the end of the day, the only just resolution will be that the Jena 6 have their charges dropped, and the racist cracker DA goes to jail.

Bush Dogs Move to Block Mortgage Reform

It now appears that the Bush Dogs are taking the side of abusive mortgage issuers over the people harmed by this fraud. Chris Bowers has it right:
It's time to understand that Bush Dogs are part of a working conservative majority. They are not our friends, they are not our allies, they are political opponents who want to bail out wealthy investors and hurt people trapped in subprime mortgage markets. Politically, they are also the people hurting Democratic capacity to differentiate ourselves as populists and capture swing areas and exurban Republicans hurt by the housing meltdown.
I would take it further. These people are so damaging to the party, and to the country, that liberals shoule provide significant opposition to them in both the primaries and the general election.

The Democrats are going to pick up seats in 2008. If alle of these seats are foregone in order to excise Bush Dogs from the party, it would be a good thing.

Breaking News, John Negroponte is a Moron

Here is a guy who takes our money, and as opposed to going after terrorists in the north, has spent it on gold plating his military machine to go after India in the south, but according to John Negroponte, he is indispensable.

The Pakistani military has spent the past 60 imagining the glory of der tag*, and Musharraf is very much a part of this dysfunctional and anti-Democratic culture.

Of course, the current alternative, Benazir Bhutto, is remarkably corrupt, even by the standards of Pakistani politics (Yes, I know, "corrupt even by the standards of Pakistani politics", is hard to wrap one's head around).

*The German Imperial Navy, in the days before World War I, constantly longed for der tag, the day, when they would confront the British Navy.

Kerik Expects Indictment Next Week

Seeing as how the statute of limitations expires on November 15, this is not surprising in the least.

The most basic point is that Guiliani plucked this guy out of obscurity, and he will be going to jail because he is mobbed up.

Of course, there is also the bit where used an apartment that had been donated to the city for the benefit of ground zero workers to f%$# Judith Regan, but he's still Rudy's guy.

It raises the obvious question, just how will Rudy screw up in selecting his inner circle next? Is he going to select a pedophile priest or something?

Oh....Wait...He already has.

There Still Might be a Filibuster on Mukasey

It appears that there may be a filibuster on Mukasey. FWIW, I'm hoping that there is one.

I don't expect it to stick, but this should be a defining issue for any Democrat: Do you support, or oppose torture? If you do, I, and you, should work towards defeating these people in the primaries, and yes, that means you Schumer and Feinstein.*


*Full disclosure, my great grandfather, Harry Goldman, and her grandfather, Sam Goldman were brothers.

AT&T/NSA Hoovered the Entire Bloody Internet

Mark Klein is an American hero.

For those of you who don't know, Mark Klein is a retired technician at AT&T, and he was responsible for running wires to a splitter for the benefit of Room 641A of 611 Folsom Street, the secret room set up by the NSA at AT&T's offices in San Francisco. He is Now lobbying congress not to grant retroactive immunity to the Telcos over the illegal NSA spying.
"That was my 'aha!' moment," Klein said. "They're sending the entire Internet to the secret room."

The diagram showed splitters, glass prisms that split signals from each network into two identical copies. One fed into the secret room, the other proceeded to its destination, he said.

"This splitter was sweeping up everything, vacuum-cleaner-style," he said. "The NSA is getting everything. These are major pipes that carry not just AT&T's customers but everybody's."
The illegal wiretapping that most telcos did on behalf of the NSA was far more extensive than previously revealed.

This was not targeted at foreign calls routed through the US. Nor was it calls where one party was overseas. The NSA is actively collecting ALL THE DATA going through AT&T internet exchange point. Everything. Every email, every google query, every music download, every IP telephone call (and BTW, pretty much all long distance telephone calls at some point use TCP/IP these days.)

They took everything.

The telcos are claiming that they need immunity, because they were just being good citizens, and that they were not clear on the law.

There is one problem with argument, as Mr. Klein noted on Olbermann, THESE ENTITIES WROTE THE LAWS INVOLVED. They were heavily involved in drafting the laws at every step of the way.

They knowingly broke the laws, and they did because they saw the example of Qwest, where the government retaliated by denying and pulling contracts, and they chose to break the law because it was profitable.

Kevin Drum is Correct, of Course

He was wondering as to what arguments would be made by the blogosphere might make to explain the Democratic Party successes in Virginia.

He list 9 alternatives, and finishes with this bon mot, which is one of the wisest things I've read this year:
Whatever the consensus turns out to be, I'm declaring right now that I think it's wrong. And somewhere in my archives there will be a post to prove that I thought this all along.
This man is a Regular Nostradamus. I gotta make more predictions like this. Curmudgeons get all the prognostic props, you know.

Worse than Nixon

In an otherwise completely conventional story from USA Today, I found this little gem at the end:
Meanwhile, Bush reached an unwelcome record. By 64%-31%, Americans disapprove of the job he is doing. For the first time in the history of the Gallup Poll, 50% say they "strongly disapprove" of the president. Richard Nixon had reached the previous high, 48%, just before an impeachment inquiry was launched in 1974.
I must resist urge to rub hands together and say, "Excellent", like Monty Burns."

Too late....

Radiohead $2.26 on every album download

Remember when I commented on Radiohead making their album available online and allowing their fans to pay whatever they wanted?

After 29 days, some numbers are in, $2.26/album, with about $2.7 million in total sales. The coverage, of coursee, is that this is a pittance compared to the $19.95 for a CD, but that's not what the band gets, that's what the studio, retailer, record executive's coke dealer and worthless brother-in-law, etc. get, not the artists.

Radiohead mad a lot more money in a few weeks than than they would in a few decades doing this. I recall hearing an interview with Aimee Man, formerly of 'Til Tuesday, and she releases under her own label now, but her old stuff, the stuff that made the top ten and hit MTV forever, it was still "not recouped", i.e. she had gotten no royalties.

The phenomenon is going to move down the chain, and I won't shed a tear to see the demise of the record distributor paracites.

Right Wing Regenry Press Cheats Authors Out of Royalties

It appears that Regenry Press, incubator of right wing nutjobs who can't write*, is getting sued for cheating authors out of royalties. The claim is that Regenry, "orchestrates and participates in a fraudulent, deceptively concealed and self-dealing scheme to divert book sales away from retail outlets and to wholly owned subsidiary organizations within the Eagle conglomerate."
In Regnery’s case, according to the lawsuit, the publisher sells books to sister companies, including the Conservative Book Club, which then sells the books to members at discounted prices, “at, below or only marginally above its own cost of publication.” In the lawsuit the authors say they receive “little or no royalty” on these sales because their contracts specify that the publisher pays only 10 percent of the amount received by the publisher, minus costs — as opposed to 15 percent of the cover price — for the book.

Mr. Miniter said that meant that although he received about $4.25 a copy when his books sold in a bookstore or through an online retailer, he only earned about 10 cents a copy when his books sold through the Conservative Book Club or other Eagle-owned channels. “The difference between 10 cents and $4.25 is pretty large when you multiply it by 20,000 to 30,000 books,” Mr. Miniter said. “It suddenly occurred to us that Regnery is making collectively jillions of dollars off of us and paying us a pittance.” He added: “Why is Regnery acting like a Marxist cartoon of a capitalist company?”
I love that last quote. FWIW, they are not acting like a "Marxist cartoon of a capitalist company", they are acting like a Harvard Business School professor.

As a matter of law, I am not a lawyer. As a matter of the facts, this is rather complicated. Regenery has a long history of basically giving its books away to boost numbers, you see it all the time at places like Newsmax, where if you subscribe, they'll throw in a bloody library of conservative hardcover tripe. This way, someone who writes a book that might sell 3,000 copies gets to do the pundit circuit as a someone who has sold 100,000 copies,

I'd love to be a part of the legal discovery process, but right now I'm basking in the Schadenfreude.

*Yeah, like I'm one to talk, but at least I don't think that I'm the next Hemingway.

Russian Votes to Leave CFE

It's not much of a surprise that the lower house of the Duma has voted to leave the Conventional Forces in Europe (CFE) Treaty.

No surprise. What is a surprise, at least to me, is that the Duma voted 418 to 0 to do so.

While the Duma is weak, and largely populated by Putin lapdogs, the unanimity shows something: That the Russians believe, accurately in my opinion, that the missile defense installations are directed at them.

I agree. Bush and His Evil Minions™ wanted to show Russia who was boss, out of the same sort of dick swinging that got us into Iraq.

Bad move.

Edwards calls Nancy Nord's Resignation

He's just the first. After all, as acting head of the CPSC, she's refused additional money to keep products safe, and she's taken free trips, and lord knows what else from toy manufacturers so that they can keep giving lead contaminated toys to kids.

I'm surprised I haven't heard calls from the other Dem candidates yet.

Pat Robertson Endorses Rudy Guiliani; Brownback to Endorse McCain

For anyone else, I'd call it a sign of the apocalypse, but for Pat Robertson, I just ask how much he got for selling his endorsment. There are very few more venal and self serving creatures on this planet.

As to Brownback and McCain, it's no big. They are both Senators, and far closer on issues than most people recognize. Additionally, I could not see him endorsing Romney, he's a Mormon from Massachusetts, and Huckabee and he were gunning for the place in the campaign, so he was an unlikely choice.

Of course, I pegged Brownback as the Republican nominee, which goes to show that my powers of prognostication stink.

Economic Avalance Update: November 7 Edition

The Dollar hit another all time low, it's currently at $1.4645:1.0000€, oil peaked at $98.62/bbl, the Canadian Dollar briefly broke $1.10 US today and the Dow dropped 361 points.

Not only do I expect to be right on the Euro breaking $1.50 and oil breaking $100/bbl before year's end, we may see significant moves toward moving oil to Euro denomination by next June. Iran and Venezuela are already pushing for this for political reasons, and the dollar's decline will likely put pressure on other petro economies to go a similar way.

To quote Paul Krugman (PDF):
Almost everyone believes that the US current account deficit must eventually end, and that this end will involve dollar depreciation. However, many believe that this depreciation will take place gradually. This paper shows that any process of gradual dollar decline fast enough to prevent the accumulation of implausible levels of US external debt would impose capital losses on investors much larger than they currently expect. As a result, there will at some point have to be a ‘Wile E. Coyote moment’ – a point at which expectations are revised, and the dollar drops sharply. .....
You have to love an economist who can invoke the Warner Brothers.

Bush Water Bill Veto Overriden

The vote was 361-54, and the Senate is expected to override too.

This bill has broad bipartisan support, and big spender Bush vetoed it because he is having to pretend that he gives a damn about the budget to reinforce his own delusions of manhood.

Why this is significant is because once he is overridden, it will become progressively easier for it to happen in the future.

There are already reports that there is an S-Chip bill that will get a veto proof majority in the works. It gets much harder for the Republicans to whip the vote when they have already helped override a veto.

Bush and His Evil Minions™ Are Stonewalling on Abramoff Contacts

The Whitehouse is refusing to turn over Abramoff documents. They are claiming that they "contain internal deliberations among White House employees, or that otherwise implicate Executive Branch prerogatives."

How on earth could this "implicate Executive Branch prerogatives." We are talking about contacts with a corrupt lobbyist.

Yesterday's Election Results

Tuesday, November 6, 2007

Great Smackdown of Tim Russert: Stop the Inanity | The American Prospect

Paul Waldman has the same fantasy that I do:
I have a fantasy that at one of these moments, a candidate will say, "You know what, Tim, I'm not going to answer that question. This is serious business. And you, sir, are a disgrace. You have in front of you a group of accomplished, talented leaders, one of whom will in all likelihood be the next president of the United States. You can ask them whatever you want. And you choose to engage in this ridiculous gotcha game, thinking up inane questions you hope will trick us into saying something controversial or stupid. Your fondest hope is that the answer to your question will destroy someone's campaign. You're not a journalist, you're the worst kind of hack, someone whose efforts not only don't contribute to a better informed electorate, they make everyone dumber. So no, I'm not going to stand here and try to come up with the most politically safe Bible verse to cite. Is that the best you can do?"
It is a mark of the hacktacular nature of the Washington Punditocracy* that this man is treated with any respect.

*Which might be better described as a Kakistocracy.

Hey, I Know, If I'm Offensive Enough, then I'll Get Attacked by the Right Wing Blogs, and My Readership Will Skyrocket!!!





















On a more serious note it is true that religion defies logic. In fact the definition of religious faith is that it defies logic.

Religion is about knowing the unknowable, and as such, whether you take the tales literally, or as metaphor, the stories, narrative, and cosmology of any religion are supposed to be intellectually absurd. Religion is supposed to transcend the intellect on some level

This is why, for example, Talmudic discussions of exactly what substance the 10 commandments were supposed to be made of* hold little interest for me, except to the degree that they can be shown to be allegories that show us how to live our lives.



















But for those of you who simply want to be offended, there is this (Praise be to Tshirthell.com):





.



*Sapphire. What's more the first set, the ones Moses smashed, were supposed to be carved entirely by God, while the second set are supposed to have been cut into tablets by Moses, and then God carved the words on them. It's supposed to indicate that God was displeased at that whole Golden Calf thing.

Free Market Gets Us Slower More Expensive Internet

No surprise, the U.S. is lagging in broadband penetration, performance and price, and it is falling further behind. The free market shills claim that it's bad data, but every study confirms this.

This is not surprising. Telcos are not in the business of providing good service. They are in the business of making money, and it is far more profitable to use their natural monopoly, the ownership of the last mile of wire to the home, to keep competitors out than it is for them to invest in new equipment.

Given recent deregulatory decisions by the FCC, the level of competition, and hence the level of innovation are low, and prices are high. They will remain that way until the government steps in.

What Chris Bowers Says

The media in general, and the Washington punditocracy* protray the "Blue Dog Democrats" as brave people standing up to the extremists in their party. Chris Bowers makes a convincing argument that the opposite is true, that these are folks who are the most extreme sort of hysterical fear.

The concluding 'graph:
Blue Dogs actually seem like the most scared people in all of Washington, D.C. as a result of this article. They are afraid of Republican attacks. They are afraid of conservative pundits. They are afraid of their constituents. They are afraid of motions to recommit that are meaningless in terms of actual policy. And they are protected by Emanuel and Hoyer, who seem petrified of all the same things. They seem to all operate in a perpetual state of fear, despite their surface machismo. And yes, it does seem like fear, rather than simply conservative beliefs in this case, because otherwise why would they be in favor of a meaningless procedural motion that has nothing to do with policy? The widespread fear in the tough guy wing of the Democratic Party is one of the great ironies of modern American politics.
I would add that not only does this make it more difficult to accomplish things, their behavior reinforces Republican attacks against the Democrats as without principle, or guts, and never willing to take a step to do the right thing.

It is a tragedy of the commons. By acting in their own perceived (and only perceived, look at Ron Paul, whose support is driven by his forthrightness, not the policies involved) best interest, they destroy the common resource of productive political discourse.

*Which might be better described as a Kakistocracy.

Low-tech Tetris

College students with too much time on theri hands

A Spammer and A Genius

It appears that spammers are using sex to enlist human brain power to foil Captchas.

This is a Captcha:

Basically, the spammers have, "created a Windows game which shows a woman in a state of undress when people correctly type in text shown in an accompanying image".

The Captcha comes from a site that uses them to prevent spam, Yahoo comes to mind as a prominent example.

This is brilliant. Evil, but brilliant. If only this man could use his powers of technology and psychology for good, instead of evil.

Some Brazilian Fraudster Just Owned Me

Turns out that the reports of Supermodel Gisele Bündchen demanding payment in Euros was a fraud originating in Brazil.

So, my earlier post was full of it. Sorry

Iraqi Inspector General will Audit Iraqi Security Forces

When the IG turns over these rocks, it will not be pretty.
IG to audit Iraqi security forces

By Megan Scully CongressDaily November 5, 2007

At the urging of Sen. Byron Dorgan, D-N.D., the special inspector general for Iraq reconstruction plans to review how many trained Iraqi personnel are actually serving in the nation's security forces. The audit was sparked by an Oct. 31 letter to Stuart Bowen, the U.S. inspector in charge of investigating Iraq reconstruction, in which Dorgan expressed frustrations at the Bush administration's inability to provide reliable statistics on the size of the nascent security forces.

...

Senate Investigating Top Televangelists, Demanding Financial Records

I should note that it is Republican Senator Charles Grassley who is appearing to take the lead on this.

They want to see if too much of the tax exempt* money is going to fund a lavish lifestyle.

Ole Anthony, of the Trinity Foundation has been trying to get coverage of this for years, and finally went to Grassley because the press would not cover it.

My guess is that part of the reason for the lack of press coverage is a fear of being attacked by the religious institutions, and the other reason is because churches are allowed to conceal their financial dealings in ways that other non-profits are not, which makes it tougher for the average reporter to get the information they need to make a story.

With the threat of congressional subpoenas, the information that Grassley gets should be more complete.

*I actually have some experience with laws involving tax-exempt religious and educational institutions, section 501(c)3 of the tax code. In 1990, I incorporated a group that put on a literary conferences, Arisia as a Massachusetts non-profit and a federal 501(c)3.
Truth be told, in a sane world, it would have had to incorporate as a 501(c)7, a membership organization, but the 501(c)3 code is lax enough to slip it in, and we needed the low postage rates available for a 501(c)3, but not a 501(c)7. It was legal, as to the ethics, I try to think about Arisia as little as possible for any number of reasons.
BTW, one of the problems about getting information about how churches are run is that unlike other tax exempt organizations, churches are not required to file form 990s, which are public documents with fairly full financial disclosure.

U.N. Working Group on the Use of Mercenaries Calls "Private Security Contractors" Mercenaries

This has to be a something from the Secretariat of the BLATANTLY OBVIOUS.

However, this declaration is significant, if just because it places an official imprimatur on the term.

Hopefully, this will lead to more countries adopting the International Convention against the Recruitment, Use, Financing and Training of Mercenaries.

Weapons of Mass Digestion*

Your tax dollars at work.

FBI Hoped to Follow Falafel Trail to Iranian Terrorists Here

By Jeff Stein, CQ National Security Editor
Like Hansel and Gretel hoping to follow their bread crumbs out of the forest, the FBI sifted through customer data collected by San Francisco-area grocery stores in 2005 and 2006, hoping that sales records of Middle Eastern food would lead to Iranian terrorists.

The idea was that a spike in, say, falafel sales, combined with other data, would lead to Iranian secret agents in the south San Francisco-San Jose area.

The brainchild of top FBI counterterrorism officials Phil Mudd and Willie T. Hulon, according to well-informed sources, the project didn’t last long. It was torpedoed by the head of the FBI’s criminal investigations division, Michael A. Mason, who argued that putting somebody on a terrorist list for what they ate was ridiculous — and possibly illegal.

...
If Mudd and Hulon are still working for the FBI, something is deeply wrong.

*That title is not my idea. It comes from the guy who runs MyNuMo, who, like everyone on the bloody internet, writes better than I do.

Economic Meltdown News.

With everything seeming to come apart at once, one wonders if the other economic world powers have decided that the United States is simply too dangerous to allow it to continue it's role as the worlds sole remaining superpower.

Given that the US spends more on defense than the rest of the world combined, it would be logical to attack where this country is weakest.

In the short run, the fact that the US has rulers who appear to be insane would argue for this, and in the long run, it's probably to their advantage too.

The dollar vs the Euro, $1.4571:1.0000€.

Oil Hits $97/bbl. Violence in Afghanistan, and a bombing of a Yemeni oil pipeline kicked everything up, as Emeril says, "another notch".

Oil Hits $97 on Bombs, Demand Forecast: Financial News - Yahoo! Finance

Indymac, one of the largest independent mortgage lenders in the US, reported losses that were 5 times their earlier predictions. The third-quarter net loss for Pasadena, California-based IndyMac totaled $202.7 million, or $2.77 per share. IndyMac had on September 7 forecast a loss of nil to 50 cents per share.

And it appears that the financial upset is roiling the 10 year Treasury note market too.

Reflections of Guy Fawkes Day

Scott Horton has the definitive word:
But today Britons have a take on Guy Fawkes that is much at odds with the historical one. Once Fawkes was a symbol of the traitor within. The people were called to be on guard against his like. No longer. Today Guy Fawkes is increasingly viewed as the heroic figure prepared to stand against an unjust and oppressive state, as a martyr and a victim of torture. What are the lessons of Guy Fawkes Day for 2007? I propose three:

1. Torture Never Works and is Always Wrong

.........

2. Beware the Government that Rules By Fear

......

3. A Government That Stereotypes Is Unjust

...
It should be noted that the brutality, fear-mongering, xenophobia, and paranoia of the Stuart Kings, those who tortured Guy Fawkes, led inexorably to the revolution in England that placed Oliver Cromwell in control of England as a dictator.

Alan "Bubbles" Greenspan Speaks

And he says that house prices are continuing to fall.

Greenspan never knew a piece of financial chicanery for the big boys that he would not support or bail out, and he is largely the reason for the housing bubble busting.

When will he be called on this?

What Your Dogs Really Think of You

A man put his shotgun down, and his dogs blasted hunter with his own shotgun.

Luckily, dogs do not know the difference between bird and buck shot.

The bloodbath in credit and financial markets will continue and sharply worsen

The bloodbath in credit and financial markets will continue and sharply worsen
Indeed, according to a MarketWatch article from September – based on Bernstein Research – many Wall Street firms put an excessive amount of securities in the level 3 bucket that uses unreliable models for valuation. The share securities in the level 3 is:

15% for Goldman Sachs;

13% for Morgan Stanley;

8% for Lehman Brothers;

7% for Bear Stearns

and only 2% for Merrill Lynch.
So, what is a level three asset: Ummm....Basically, it's sh#@ that you cannot sell, because there is no regular market, and your asset value is pulled out of the ether using models that no one understands.

Merrill Lynch just tanked, and its CEO was fired with just 2% of its assets being level 3, and look at where the other investment banking firms are.

It's stuff that might be a million dollars, and it might be ten dollars, but you cannot tell until you try to sell it.

Or, to quote the Prudent Bear:
We may be about to find out. From November 15, we will have a new tool for figuring out how much toxic waste is in investment banks’ balance sheets. The new accounting rule SFAS157 requires banks to divide their tradable assets into three “levels” according to how easy it is to get a market price for them. Level 1 assets have quoted prices in active markets. At the other extreme Level 3 assets have only unobservable inputs to measure value and are thus valued by reference to the banks’ own models.
I'm beginning to think that I should put everything in gold under my mattress.*

It's 1929 all over again.

*Not really. But perhaps moving some more assets to foreign denominated stuff would be in order.

Monday, November 5, 2007

Tigntening Lending Standards Can Sink This Economy

CNN has a reports Banks tightening mortgage standards.

They are not just tightening mortgage lending, they are tightening ALL lending. And as businesses find that they cannot get the credit that they depend upon for cash flow, this drive what is already a moribund economy down.

Fred Thompson Clown Show: This One Should Win an Oscar™

OK, this one takes the cake. Philip J. Martin's until, his resignation the chairman of Thompson's "First Day Founders" team, has felony convictions on drug charges.
Martin pleaded guilty to the sale of 11 pounds of marijuana in 1979, the Washington Post reported Sunday. In 1983, Martin was charged with cocaine trafficking and conspiracy stemming from a plan to sell $30,000 worth of the drug, the newspaper reported. He pleaded no contest.
It's one for a contributor to have a record, but this guy was a major public player.

Wilkes Convicted

Brent Wilkes is guilty of all 13 counts in the Randy "Duke" Cunningham bribery trials.

One hopes that he decides to sing now, because Duke is an idiot savant. Great pilot, lousy everything else, and he could not have been effective without the knowing support of other Republican members of congress.

Navy Terminates Littoral Combat Ship (LCS 4) Contract

After an orgy of cost overruns, the navy canceled the contract (construction had not yet started).

Maybe we should look at some other country's littoral (close into shore) combat vessels.

Citigroup CEO Resigns; Interim Named: Financial News - Yahoo! Finance

So, the meltdown has claimed Citigroup CEO Charles Prince, and Robert Rubin will be replacing him temporarily.

How reassuring. Rubin asked for intervention in the Enron affair so that his clients could screw less savvy investors for some breathing time, and now he his heading Citigroup, which has now written down something like $11 billion in losses, so far.

Specter Still Giving Rim Job to Bush and His Evil Minions&trade

Remember when I said that Arlen Specter would make noises, but when push came to shove, he would do whatever Bush told him to?

Specter has now confirmed that he is Bush's Bitch will vote for Mukasey.

No surprise here. He never fails to fold like overcooked broccoli.

Hollywood Writers Strike

I know that there are doubtless a lot of people who think that they shouldn't even be in a union, or strike, but half of these guy's income is residuals, and the studios are proposing nothing as an amount.

The fact is that the writers should be given a cut of revenues regardless of channel, and there is no risk if they get a percentage.

The fact is that the studios have never, ever, taken a risk on new media. It's always been someone else shelling out to the for the privilege of seeing if a media will fly or sink. There is no reason for the studios to freeze these guys out.

Gisele Bündchen No Longer Trusts the Dollar

Yes, the dollar has become so weakthat even super models know about it. Gisele Bündchen is now demanding that all her contracts be Euro denominated.

The kicker is, she's from Brazil....They know what it's like there to have to get your salary daily because you need to spend it because it will be worthless in a week.

US money is not good enough for her.

Though apparently US guys are (that's Tom Brady).

Yet another reason to hate the New England Patriots.

Congress to Override Water Bill Veto

The water bill is not the be all and end all of, but the fact that this veto will be overridden is. It's pork, or course, but it will be interesting just what sort of bitchy fit the Avignon President will throw over this.

Olbermannia

Saw Keith Olbermann;'s Special Comment tonight. Catch it on rerun. The whole show, particularly his comment were great.

He also had the best slam of Oprah ever!

Bush's Austrailian Laptog, John Howard May Lose His Seat

The polls are showing that it is a virtual certainty that John Howard will no longer be prime minister after the elections, and now it appears that he may not even hold onto his own seat.

One rather hopes that he is completely tossed out.

The Taliban Advances

Needless to say, First, Taliban rebels captured the Farah district of Gulistan a week ago, then on Wednesday took nearby Bakwa. On Sunday, the insurgents seized Khak-e Sefid without a fight.

With US resources allocated to Iraq, and what there is of a US presence calling down air strikes willy-nilly, is it any surprise that we're losing there?

Reasons for Massive Nuclear Strike Now Include US Dick Swinging

The FAS has a has obtained new nuclear strike guidelines developed by the Bush administration:
The 2001 Nuclear Posture Review (NPR) and White House guidance issued in response to the terrorist attacks against the United States in September 2001 led to the creation of new nuclear strike options against regional states seeking to acquire weapons of mass destruction, according to a military planning document obtained by the Federation of American Scientists.
It should be noted that this is not about one or two nukes, it's about a massive nuclear strike on the country targeted.
The creation of a "target base" indicates that the planning went further than simple retaliatory punishment with one or a few weapons, but envisioned actual nuclear warfighting intended to annihilate a wide range of facilities in order to deprive the states the ability to launch and fight with WMD. The new plan formally broadened strategic nuclear targeting from two adversaries (Russia and China) to a total of seven.
The second draft from March 2005 listed five scenarios where use of nuclear weapons might be requested:

  • To counter an adversary intending to use weapons of mass destruction against U.S., multinational, or allies forces or civilian populations;
  • To counter an imminent attack from an adversary’s biological weapons that only effects from nuclear weapons can safely destroy;
  • To attack on adversary installations including weapons of mass destruction, deep, hardened bunkers containing chemical or biological weapons, or the command and control infrastructure required for the adversary to execute a WMD attack against the United States or its friends and allies; [this was probably the "target base" in OPLAN 8044 Revision 03]
  • To counter potentially overwhelming adversary conventional forces;
  • To demonstrate U.S. intent and capability to use nuclear weapons to deter adversary WMD use.
(emphasis mine)
Let's be clear about this, the last line basically says that we will engage in a massive nuclear first strike as an exercise in dick swinging. Basically, it allows for nuclear strikes to show that we are willing to make nuclear strikes.

If you are not terrified by Bush and his Rapture driven nuclear policies, I want whatever it is that you are smoking.

Sunday, November 4, 2007

Rude, Crude, Completely Inappropriate

And hysterically funny, First Lady To President Bush: "We're At War" No Substitute For Foreplay - Oliver Willis.

Just go read it.

Hack Allows Apple's Leopard OS to Run on PCs

Personally, I'm not interested in Macs, I'm a PC guy, my interest here is that I like to see companies with arrogant restrictions in their licenses get owned,

For those of you who who do care, I'm not so sure how much it would matter that Leopard can be made to run on PCs either. After all, you have the hardware.

In either case, I find this interesting from a purely voyeuristic perspective.

OK, I Was Right, How Did I Do That?

Remember when I said that "Maybe they know that there is some level of bullsh&% in the figures that they cannot trust." In response to why the Fed would cut rates when the economy was growing at a brisk 3.9% growth rate? I also noted that the markets felt the same way too. The dow fell something like 350 points.

Well, Barry Ritholtz of
The Big Picture gives us all the specifics on what happened. It appears that a measure of inflation, "the price deflator rose a much less than expected .8% vs expectations of 2%."

Essentially, this is a measure of inflation, and is used to separate out real growth from inflation. By lowering the price deflator, you count inflation as real growth.
The average of the price index since Q1 2004 to Q2007 was 2.98, ranging froma low of 1.7% to a high of 4.2%. Thus, if the deflator matched consensus, it would have generated a GDP of 1.9%; if it was at its recent 3 year average of 2.98%, GDP would be ~1%.



See the graph, and notice the WTF: point.

This I think, is the difference between an amateur (me) and a professional (Mr. Ritholtz). I knew in my gut that something was off, but a professional can tell where, and how.

Petraeus Plagiarized His Manual

Should come as no surprise that a man who has spent his entire career as a REMF*, only to be tagged as the next coming of Sargent Alvin York by the wingnuts, plagiarized significant portions of the counter-insurgency manual that he "authored".

While agree that a military doctrine manual need not be as meticulously footnoted as a PhD thesis, but direct quotes should be marked as such, and any source should be in the bibliography, if just to help people who might want to tweak this later.

Saturday, November 3, 2007

Rice to Face Subpoena in AIPAC Case

This should get interesting.

The most interesting thing about this case is that it would be directly applicable to any member of the press who publishes something liked to them.

It's a pity that a bunch of stupid rightwing pukes like AIPAC are at the center of this.

Peppers of Mass Destruction

It's called the Bhut Jolokia, and it rates 1 MILLION Scovilles*. The next hottest is a habanero at 577,000 Scovilles.

It's grown in India.

I'm pretty sure that this would more than I could possiubly bear, and the experience 12-36 hours later might be even less pleasant.

*A measure of the spicy-hotness of peppers

Sick Product

I never knew that there was such a thing as a pencil geek, but I found one, and he shows us the world's most disturbing pencil sharpener.

Breaking: Martial Law Declared in Pakistan

Here.

Also, he has dismissed (again), Chief Justice Iftikhar Mohammed Chaudhry, the chief justice of Pakistan's supreme court, and opposition leader Imran Khan has been placed under house arrest.

This is not good.

India Test-Fires Nuclear Capable Missile

While we are trying to cut a sweet deal for Westinghouse and the rest of the moribund nuclear power industry, India continues to advance their military nuclear arsenal, this time with a test-fiuring of the Agni-1 missile.

Truth be told, I believe India's nuclear arsenal to be reasonably secure. The problem is that as they develop this arsenal, Pakistan feels compelled to develop their nuclear arsenal, and I think that the whole of Pakistan is insecure.

Composite 155-mm. Munition

The British have tested an all composite 155mm munition. The obvious advantage is weight, the round weighs 30kg instead of 40 kg, which could also translate into greater range, though one would it only expect to be used for specialized rounds (submunitions, etc), as the fragmentation of the steel casing is where much of the lethality comes from the standard round.




Friday, November 2, 2007

Edwards Proposed 2 Year Ban on Direct to Consumer Drug Ads

I'm not sure if the courts would shoot this one down, the SCOTUS lately has been very much in favor of "commercial speech", but it could be tied to the expedited drug approval processes used. His point is a valid one though, many of these drugs have, at best, a limited improvement on effectiveness for some people (tests on blood pressure medication found no benefit from the newer drugs.

It is the consumer who pays for these ads, both just covering the costs, and through people demanding new drugs from their doctors when the old drug works as well.

Municipal Wi-Fi and Broadband Bans Overturned in Senate Markup

There are a number of states in which the pig felching greedheads in the phone companies have managed to make municipal broadband and WI-Fi illegal, and a number of other states where they are trying to.

We have good news, the Senate Commerce Committee has passed a bill out to the floor that overturns these laws with broad bipartisan support.

Bad news is that there is no similar effort right now in the house, so call your congresscritter, and tell them to support the Community Broadband Act.

What Hilzoy Said: Torture Edition

He says, "That Mukasey has not taken this obvious route suggests that he is not motivated by his own uncertainty, but by the desire to keep people he believes have engaged in torture from being punished for their crimes."

I would also add as an addendum, that he likely expects to authorize such behavior, and an admission that it is torture would be an admission of guilt.

Oil is Not Going Down Anytime Soon

More unrest in the Niger Delta. This time, the local rebels hit a Nigerian navy ship successfully.

Oil is not to be found in stable places with competent, non-corrupt, and transparent government. Look at Texas to see how oil makes a place backward and corrupt.

Waterboard Schumer and Feinstein* for Supporting Mukasey

Normally, I'd go with something "earthier" but, I'm trying not to be crude.

They are voting to support Mukasey's Nomination.

With Shcumer, I think that it's just that he doesn't want to admit that he's wrong. As to Feinstein, she always seems to do this. I think that it may come from the fact that when she first (or 2nd, I can't recall) she ran against some Republican Rich pig, and had to mortgage her house to have enough money to compete.

Her ostensible argument, that this is the best we could possibly expect, while likely true, is also not her real motivation. She's gone this route way too many times for me to believe.

*Full disclosure, my great grandfather, Harry Goldman, and her grandfather, Sam Goldman were brothers.

CitiGroup Holding Emergency Meeting

Citigroup Inc. board members are expected to gather for an emergency meeting this weekend, two people familiar with the matter said.

I have no clue as to what this means, but it can't be good.

S-Chip is Going Back to Bush

Good.

Every time this happens, the Republicans are brought that much closer to whiny baby Mr. 24% popularity as the guys who want children not to get medical care.

Let them choke on it.

Andrew Cuomo Charging Collusion Between Banks and Appraisers

This could get very interesting. Does anyone know the law regarding debts that are incurred as a result of fraud by the creditor.

I could see this going in any number of ways.

Thursday, November 1, 2007

Doughy Pantload 0\|/n493 (Ownage)

The Amazon entry for Jonah Goldberg's book, Liberal Fascism, got hacked:
You can click for the full sized image (not taken by me), but the text reads "Liberal Fascism: The Totalitarian Temptation from When I Got My Advance Until I Finally Hand in the Manuscript in 2011."

This is particularly amusing because even among the nepotism blessed children of the original Neocons, Goldberg is an embarrassment.

Lieberman Contributons Probed by FBI

Wwell, it appears that Mr. Sanctimony is being investigated because of contributions by a mobbed up garbage collector.

Schadenfreude

JCS Chairman Forbids "War on Terror"

I have commented earlier about the difference between Naval and Army officers. In the Navy, it is expected that one would have made professional enemies before becoming captain, where in the army, there is more of an Eddie Haskell ethos.


Now that Admiral Michael Mullen is chairman of the Joint chiefs of Staff, we are seeing an honesty that was previously lacking:
Seems the incoming chairman of the Joint Chiefs, Adm. Michael Mullen, has banned the use of the phrase “Global War on Terror” (GWOT) and has prohibited using it “in any future correspondence,” according to a Sept. 27 e-mail from a Mullen aide.
Personally, I've been using Total War Against Terrorism for some time.

Why is Juan Cole So Dismissive the Kurds?

Let me be clear, the issue of the Kurds is a thorny one. As what is arguably the largest ethnic group in the world without a nation, there is clearly a moral case to be made for statehood for some of the areas in which they live.

However, there is also a compelling counter argument to be made that any such arrangement, or process toward such an arrangement would be severely destabilizing to the region*.

Let me make this clear, this post is NOT about a solution to the "Kurdish Problem", though I do favor a homeland for the Kurds.

Rather it is a commentary on on the Bush administration's foreign policy failures, and while I agree with its basic thesis, that the Bush Administration has ruined everything that it touched, I am concerned about the disdain that is shown regarding the Kurd and Kurdish nationalism.

I would note this paragraph comes to mind:
The Iraqi leadership, already presiding over a failed state, agonized at being caught in the crossfire. The Iraqi president, the avuncular Kurd Jalal Talabani, hypocritically condemned al-Assad for urging a foreign military invasion of an Arab country, even though he himself had supported the U.S. invasion of Iraq. Massoud Barzani, the pudgy turbaned leader of the Kurdistan Regional Authority, warned that his government would defend its citizens and not sit idly by if Turkish troops rolled through Kurdish cities in Iraq. On Sunday, the Iraqi Parliament, having been unable to agree on virtually any internal issue or enact any benchmark legislation, promptly passed a resolution condemning the Turkish Parliament.
(Emphasis mine)
Let me be clear, the basic facts of the situation are accurate. What struck me was that fact that these were the only people who had their motivations described (hypocritically condemned) or were described physically at all (the "avuncular Kurd Jalal Talabani" and "Massoud Barzani, the pudgy turbaned leader)."

This appears to be a conscious decision to diminish these figures. And I would note that whenever I read Juan Cole, it is the rule, rather than the exception to feel the same sense of disdain dripping from his keys as regards the Kurds.

*Truth be told, before Bush and His Evil Minions got their hands on US Middle East policy, I would have thought that it was impossible to make the region less stable, but they have exceeded my wildest expectations.
Yes, I am aware of the historical reference being made.
Truth be told, I do not do so as often as I should, he knows his stuff.

Ron Paul is a Spammer

Well, it appears that botnet of compromised machines are sending out email pimping for Ron Paul.

It should be noted that the article does note that the researcher who discovered this has no evidence of any connections between the Paul campaign and the botnet spammers.

Given the genuinely altruistic bent of spammers, it is possible that these people are just acting out of the goodness of their hearts, just like Dick Cheney does.

The Apocalypse is Nigh!!!!

Verizon has decided to allow shareholders to hold non-binding votes on executive compensation.

Verizon?? The phone company, is going for transparency and responsiveness?????

We are approaching the end of everything....when do cats start sleeping with dogs??? When does that marshmallow guy appear?

The Right Wing Has Run Out of Scandals to Pimp

But like any good environmentalists, they have have turned to recycling. They gone back to accusations that Hillary is a lesbian.

It appears that the right wingers do not know the difference between a lesbian and a scary woman. While there is an intersection of these groups, it does not approach unity.

Of course, the wankeriffic Mickey Kaus dutifully reports this as a breaking rumor, because, I guess, that he feels honor bound to his readers to report every lame assed rumor out there.

Have I mentioned the rumor that Mickey Kaus blows goats? I feel compelled to report that too.

What I dread is the fact that Hillary's will now leak a sex tape of her and Bill to refute the rumor.

The horror...the horror...

John Edwards Ad--Damn Good

I hear this, and I want to put on sunglasses and an ear piece and take a bullet for him.

Nancy Pelosi is Doing a Fundraiser for Corrupt Right Wing Al Wynn

Go to Matthew Saroff's Act Blue Page, and give to Donna Edwards.

It's a 70+% Dem district, there is no need to support this Wynn.

Just so you know Wynn is claiming that the bankruptcy bill that he voted for is good for you.

Wynn, and the whole PG County machine need to be sent to the private sector.

H/T Atrios.

Non-Door Knob Licker* Dan Savage Has a Great Halloween Post

Just go read it.



*Savage was once arrested on suspicion of licking Gary Bauer's door knobs.
I know that you are thinking, and no, that is not a sexual euphemism.

Appeals Court Puts Small ISPs Out of Business

It said that the FCC ruling that no requirement for access to the list mile wiring stands.

Ma Bell has lived for years by using monopolistic techniques to ice out competition. It's more profitable than supplying a better product, which is why the US is behind the rest of the industrialized world in broadband.

The FCC claims that this will give more competition. Why should it, when anti-competitive behavior is more profitable than competing.

Rudy Licked Pornography...Won't That Make the Pages Stick Together

Quote of the day: Touting his accomplishments as mayor Tuesday while on the campaign trail in New Hampshire, Giuliani crowed, 'I took a city that was known for pornography and licked it to a large extent, so I have my own set of qualifications.'

Rudolph Guiliani: Smut licker.

Fred Thompson Clown Show: Gun Control Edition

Remember Freddie Thompson getting all freaked out about the UN and guns?

He referred to a August 2006 declaration of the Human Rights Council Sub-commission
Urges States to adopt laws and policies regarding the manufacture, possession, transfer and use of small arms that comply with principles of international human rights and international humanitarian law;

Also urges States to provide training on the use of firearms by armed forces and law enforcement personnel consistent with basic principles of international human rights and humanitarian law with special attention to the promotion and protection of human rights as a primary duty of all State officials;

Further urges States to take effective measures to minimize violence carried out by armed private actors, including using due diligence to prevent small arms from getting into the hands of those who are likely to misuse them;
Ummm...let's see....This threat to the 2nd amendment is a statement that people make and sell firearms responsibly, that they train soldiers and police properly, and that you do your best to keep guns out of the hands of bad people.

Pretty scary stuff.

Colbert Off the Ballot in South Carolina

South Carolina Dems Reject Colbert's Ballot Petition.

The Republicans, ever the Richie Riches, had a $35,000 fee to campaign, which Colbert could not meet without starting to file with the FEC.

Bummer.

Tom Udall Reconsidering New Mexico Senate Race

He had previously ruled it out, but now appears to be considering a run. As Domenici is retiring, this is a possible pickup, and it becomes a much more likely pickup with Udall in the race.

If he is half the man his father one, the only one eyed ex-NBA player ever in to serve congress, he'll be one of the best guys in the senate.

Read Mo Udall's autobiography, Too Funny to Be Presiodent.

Rice Facing a Revolt in State Department Over Postings to Iraq

First, they build an embassy compound that is larger than eny possible need. So they have to fill up all the offices with someone, but who the hell wants to be involved in this massive clusterf&%$?

So now, they what amounts to a draft forcing people to go to Baghdad.

This sounds just like what Rumsfeld did to the military.

Heck of a job there, Condi.

DSCC Gunning For McConnell

It appears that the Democratic Senatorial Campaign Committee (DSCC) has decided to target Senate Minority Leader Mitch McConnell.

Good. When the Republicans decided to target Tom Daschle in 2004, it crossed a line, and payback is not about making anyone feel good, it's about making sure that when these lines are crossed, the people get slapped down.

As Sean Connery once said, They pull a knife, you pull a gun. He sends one of yours to the hospital, you send one of his to the morgue. That's the Chicago way!

You cannot make nice with these folks. If you want them to visit your grave every months, the only way to do that is because they are afraid that you will come up again.

This needs more than money, it needs balls. It needs to be nasty, and that includes a whispering campaign about the fact that McConnel separated from the army after 10 days, allegedly for giving another guy a hand job in the shower.

Republicans will never respect anyone else, but they are at their core cowards, and they can manage fear.

ROTFLMAO!!!!

Al Franken's campaign had the following to say about Norm Coleman endorsing Rudy Guiliani for president:
So the Senator who didn't think Halliburton's war profiteering was worth investigating is endorsing the candidate who wanted to put Bernie Kerik in charge of Homeland Security. Makes sense to us!

Petraeus and Chalabi Two Lying Frauds That Go Great Together

Hmmmm....Petraeus personally introduced Disgraced Ahmed Chalabi too U.S. troops in Iraq.


At least, there is symmetry.

Economic Update

The Dow dropped 362.14 points. Oil peaked briefly at $96.24/bbl.

Normally, this is not the response to a Fed rate cut. I think that oil and currency concerns are behind this, though truth be told, the two are intertwined. When the dollar falls, if oil remains the same price as a world commodity, the dollar price must naturally go up.

Whiskey Foxtrot Tango: Blackwater Smuggled Silencers Into Iraq

What in the name of Sam Ervin's backward law degree is going on here??

Completely bizarre.

The only thing that I can think of is that some of them are freelancing as hitmen.