Banks Got Eated

Yep, bank number 50 40, Waukegan Savings Bank of Weaukegan, IL, and credit union number 8 (I missed one) A M Community Credit Union of Kenosha, WI.

So here is another late bank failure Friday.

Here is the graph pr0n (FDIC only)

Good Riddance

In another Friday news dump, we discover that Cass Sunstein will be leaving his position as head of the Office of Information and Regulatory Affairs.

The man has been a train wreck if you are interested at all in the idea of regulation being a way to protect the public welfare:

“Cass Sunstein is the most well-connected and smartest guy who’s ever held the job,” said Rena Steinzor, president of the Center for Progressive Reform and a professor at the University of Maryland Carey School of Law. “But he’s also done untold damage.”

…

Few proposed rules escaped his gaze or his editor’s pen. Of the hundreds of regulations issued by the administration as of late last year, three-quarters were changed at OIRA, often at the urging of corporate interests, according to an analysis from the Center for Progressive Reform, a liberal-leaning group that monitors federal regulation. For rules from the Environmental Protection Agency, the figure was closer to 80 percent, the group found. In virtually every case, the rule was weakened, the group claimed.

Professor Steinzor cited Mr. Sunstein’s role in the killing of the E.P.A.’s proposed tightening of the standard for ozone pollution, the indefinite delay of rules governing coal ash disposal and the withdrawal earlier this year of a proposed update of child agricultural labor standards.

And here is the money quote:

Mr. Sunstein’s recommendations carry extraordinary weight, White House officials said, but the ultimate decisions in those cases were made by the president, his senior political advisers or cabinet officers.

We also have these comments:

“It’s a glorious day,” said Frank O’Donnell, of the group Clean Air Watch. “Sunstein has been a blot on the landscape.”

And from an Obama adversary:

“The Chamber has enjoyed a good working relationship with Cass Sunstein and we wish him well in his return to Harvard Law,” said a spokeswoman for the U.S. Chamber of Commerce. Despite its happiness with Sunstein, the agency has spent millions of dollars attacking the president's policies.

I think that the fact that the US Chamber of Commerce liked him is the best evidence about how harmful he was to the basic idea of regulations that protect the public.

The US Chamber of Commerce is to the idea of good governance and reasonable regulation as Colonel Sanders was to the life span of chickens.

And important thing to remember though is that the Cossacks work for the Czar.

As to the greater meaning to his departure, my guess is that Obama is looking to appeal to the base for the election.

I Hate My Son*

So, we were driving back from the bookstore, and I ended up mentioningMad Magazine, and he goes, "What's that?"

So I feel like I'm older than Methuselah, because, after all, what twelve year old doesn't know about Mad?

So  I explain what it is, and give him a primer on the magazine, and the history of EC Comics, and what it was all about.

As we are parking, he reveals that he is fully cognizant of Mad, and that he's been pulling my chain.

Sharper than a serpent's tooth.

I am currently developing an appropriate plan for revenge.

^*Not really, but I have to get him back for this.

If You Do Friday Cat Blogging, You Have to See This Vid

Cats, Anesthesia, Munchies, Hilarity

Yet Another Reason Not to Give to the DCCC

A detailed examination of how they spending their money reveals that DCCC chair, and former Blue Dog, Steve Israel, is favoring long shot conservatives over more competitive real Democrats:

Monday morning the DCCC was strutting around like a rooster bragging about the campaign to hold Republicans accountable, running an ad (below) called "The Millionaires," against 23 "Republican Members of Congress who are about to vote for another tax cut for millionaires at the expense of the middle class and seniors." Let's not even get into the cynicism of the DCCC backing Blue Dogs who vote with the GOP on this and leave that for the day after the vote itself (when we can replay a tape of Debbie Wasserman Schultz defending anti-family ConservaDems because she's so proud of her "Big Tent party").

………

Who are these Republicans? Not many people have heard of any of them. They're basically all a bunch of backbenchers without any power or influence, mostly pathetic freshmen. Fine... someone has to go after them. It's a shame though, that that's all the DCCC goes after! But let's look at the Democrats running in these districts for a second.

………

So what would a progressive campaign look like instead of this attempt by "ex"-Blue Dog Steve Israel to restock the House Democratic caucus with conservatives?

………

The progressive target list, unlike the DCCC target list, includes vulnerable senior Republicans (Goliaths) like Paul Ryan and Buck McKeon, whose district's Obama won, as well as vulnerable Republican incumbents with national reputations as especially hateful assholes, like Eric Cantor, Joe Pitts, Mike Coffman, Patrick McHenry, Ed Royce, and Mike Rogers. No one ever even heard of any of the DCCC targets beyond maybe the congresswoman in Palm Springs who used to be married to Sonny Bono after Cher and now lives with her braindead husband-- a candidate for the U.S. Senate-- in Florida. It's a pretty unheroic list of targets-- and not even one where there are many "sure things." In fact, some of these people have absolutely no chance of winning whatsoever, like the poor schlemiels running against Vicky Hartzler (MO-04), Larry Bucshon (IN-08), Tim Murphy (PA-18), Kristi Noem (SD-AL), and Scott DesJarlais (TN-04). The money the DCCC will waste in those 5 districts alone could probably make the difference in defeating Paul Ryan, Buck McKeon and Ed Royce, 3 seats ripe for the plucking that the DCCC refuses to contest.

One lesson to be learned here is that while the Blue Dogs, and to a slightly lesser degree the New Dems, may not like Republicans, but they hate real Democrats.

Pick and choose your candidates, and vote for, and donate to, real Democrats.

If you delegate this to Steve Israel and the DCCC, we will get an affirmative action program for DINOs.

Jobless Claims Up

Not a good initial jobless claims report, with initial claims rising to 365K, and still the Federal Reserve is taking a wait and see position.

Latest Big Brother Bill Fails

Yes, Joe Lieberman's attempt at a combined police state wet dream/vanity legacy project, the Cybersecurity Act of 2012, failed failed to break a filibuster, and so it's dead for this session.

I'm happy, but Barack Obama is bumming, because, well, the worlds worst constitutional law professor wants to be able to spy on people without any independent review.

Hed of the Day

Ann Romney's Horse Fails to Win Dressage but Avoids Offending British

Courtesy of The Grauniad.

Deep Thought

From Facebook.

I Know Who Should Do the Next Army Recruiting Ad.

These guys:



H/t DC at the Stellar Parthenon BBS for the find.

If Putin Wants Us to Stay in Afghanistan………

The "Graveyard of Empires", it's a pretty good indication that our continuing involvement is not in our benefit:

NATO forces should stay in Afghanistan until their job is done, Russia President Vladimir Putin said on Wednesday, suggesting they should stay beyond a planned withdrawal of most combat troops in 2014.

"It is regrettable that many participants in this operation are thinking about how to pull out of there," Putin said at a meeting with paratroopers in the Russian city of Ulyanovsk. "They took up this burden and should carry it to the end."

He isn't suggesting this because he cares about the Afghan people, and he isn't suggesting this because it's in the interest of the US or its NATO allies.

He's doing this because it places stress on the US military and NATO, and as such it serves to ameliorate the threat that he perceives from them.

Say what you will about Putin, but our best interests is ths last thing that he has on his mind,

Lieutenant John Pike No Longer Works At UC Davis

Breaking news,
University of California Police Lieutenant John Pike is no longer employed as a police officer:

Lt. John Pike, the UC Davis police officer who became a focal point of last November's pepper-spraying incident during a campus protest, is no longer employed by the university, a spokesman confirmed late Tuesday.

UC Davis spokesman Barry Shiller said he could not discuss the details of Pike's departure, but in response to queries from The Bee, he said Pike was no longer employed there as of Tuesday.

"Consistent with privacy guidelines established in state law and university policy, I can confirm that John Pike's employment with the university ended on July 31, 2012," Shiller said. "I'm unable to comment further."

Pike, 39, declined to comment when reached by The Bee as he was sitting in a meeting on campus where he said he was being terminated.

Pike's 2010 salary was listed as $110,243.12. He has been on paid leave since the debacle unfolded last year, sparking worldwide outrage, numerous investigations and calls for the resignation of UC Davis leaders.

It certainly took long enough, he spent something like 8 months on paid administrative leave, but don't blame the unions.

He's a Lieutenant, and management, and so not covered by a labor agreement.

Instead blame an internal police department disciplinary process that is pretty much written by, and for, the benefit of the cops, not the general public.

H/t the Stellar Parthenon BBS for the PhotoShops.

It's World Middle Finger Day

go figure.

What the F%$#?

So, I'm driving to work, and they are discussing auto insurance rates, and they note that Massachusetts is one of the 3 cheapest states for auto insurance in the USA.

Over lunch, I confirm this.

I went to school in Massachusetts, and I had friends who used friends and relatives addresses in New Hampshire to register their car to save on insurance costs.

We have entered Bizarro world.

The idea that Massachusetts drivers have among the lowest rates in the nation is mind boggling.

Deep Thought

H/t DC at the Stellar Parthenon BBS.

Interesting Point About Religion

One of the things that honks me off is the phrase, "Judeo Christian".

I consider it to be code words for "White European".

Jews are not Christian.

More than the whole "Jesus thing", there are profound differences in how textual analysis is applied to scriptures, attitudes toward sex in marriage, the application of historical data to the analysis, and the acknowledgement of the oft contradictory character of the writings.

In any case, I came across a rather interesting analysis of one of the more troubling parts of Torah, the divine instructions to engage in what essentially was genocide in the conquest of Canaan following the exodus from Egypt.

Dr. Science of Obsidian Wings, a Jew by choice, compares two blog posts, one from an Evangelical Christian minister, and one from a Reconstructionist Jewish Rabbi, and puts to words a core difference in the intellectual approaches that I have always found difficult to put to words:

The two ministers come across as reasonably similar in personality and emotional tone -- I suspect they would get along quite well. Both read the Bible in historical-critical context, but they insist that it is necessary to read the Bible, not to just follow your bliss. Neither is willing to accept the "genocide commandments" as-is, but neither is willing to just throw them out or ignore them, either.

And they approach this text from different perspectives: asking different questions, using different tools. I was brought up as a Christian (in a Catholic/Lutheran family) but am now a practicing Jew, so I find a compare/contrast very illuminating. In this case, the Christian asks about the character or personality of God; the Jew asks what we Jews should *do*.

(Emphasis mine)

At its core, this is why fundamentalism is not really a part of normative Judaism.  (Maimonides made the point nearly 900 years ago that a strictly literal interpretation is not compatible with a meaningful study of Torah.)

If you view scriptures as instructions on how to conduct your life on a daily basis, it is impossible to take scripture literally, because the myriad contradictions and inconsistencies become manifest, thus you need to put your brain in gear, and ask yourself, "What does this mean, and what do I have to do?"

It's why the term Orthodoxy, meaning literally one way of thinking, is really not an accurate description of observant Jews.  Their practice of religion is very nearly the same, they are all a bunch of guys in black hats, but when you ask them why, or attempt to get an opinion on a part of Tanach (Torah, Prophets, and Writings) you will find them coming to this from distinctly different viewpoints.  (See Orthopraxy)

I am Sick to Death of Right Wing Democrats

Case in point, the Obama's OMB chair turned overpaid Wall Street puke ( Vice Chairman of Global Banking at Citigroup) Peter Ortag, who is suggesting that the solution to the problems of the US Post Office is to let the financial industry to steal it from the American people:

Those who believe in the usefulness of government must be vigilant about making sure all its activities are vital ones, since the unnecessary ones undermine public confidence. With this in mind, Congress should now privatize the U.S. Postal Service.

Further evidence for why this should happen came last week, when the Postal Service announced that it would be unable to meet billions of dollars in payments that are coming due in August and September for future retiree health benefits. Privatization is not always the best way to improve efficiency, but the problems facing the Postal Service will be difficult to address if it remains within the government, and there is no longer any sound reason for it not to go private.

This ignores the fact that the US Post Office, one of the functions specifically mentioned in the Constitution, is actually running a primary surplus.
It is having money problems because, in 2006, the Republicans required them to fully fund their pension plan out to 75 years over a 10 year period.

Right now, the Post Office is on track to default on a $5.5 billion pension payment to the US treasury tomorrow:

The U.S. Postal Service affirmed it won’t make a required $5.5 billion payment due tomorrow to the U.S. Treasury for future retirees’ health care, an obligation the agency said must end for it to become financially viable.

The service has said for months it couldn’t afford the payment, which was initially due last September, nor a $5.6 billion payment required by Sept. 30 for this year. Postal legislation passed by the U.S. Senate on April 25 would slow the schedule for those obligations. The House hasn’t acted on a different postal measure aimed at changes to help the service cope with declining mail volume.

“This has no effect on mail processing or delivery, no impact on post offices, and employees will continue to get paid,” Dave Partenheimer, a Postal Service spokesman, said today in a phone interview.

Just in case your wondering, the USPS is on a pace to lose about $12 billion this year, after taking into account paying for the retirement of people who haven't been born yet.

Their pension is grossly over funded, (A true rarity in the US) and if they did not have to make these payments, then they would be turning something on the order of an $8 billion profit.

But according to Orzag, the real problem is that Post Office is not able to unleash its free market super-powers.

It's really all about allowing his cow-orkers at Citi to generate the enormous fees that would be the product of any privatization this massive.

Oh No You Didn't!!!

In an interview with Huffpo (no link, I don't link to them), Harry Reid threw down in a most spectacular way:

Saying he had "no problem with somebody being really, really wealthy," Reid sat up in his chair a bit before stirring the pot further. A month or so ago, he said, a person who had invested with Bain Capital called his office.

"Harry, he didn't pay any taxes for 10 years," Reid recounted the person as saying.

"He didn't pay taxes for 10 years! Now, do I know that that's true? Well, I'm not certain," said Reid. "But obviously he can't release those tax returns. How would it look?

Mitt Rmoney, you just been served.

High five to Harry Reid.

So, When is Mark Zuckerberg Going to Jail?

I've always thought that there was something odd about how Facebook does business.

Even by the litigious standards of the various dot-com bubbles, the number of law suits that have have been filed alleging that he took money from people to develop stuff,. and walked off with said work product.

It's entirely reasonable to see the enormous amount of money involved as an inducement to file suits, after all, even a small settlement will still be a lot of money, but I'd make sure to dot my "i"s and cross my "t"s if I dealt with Facebook in a commercial capacity.

This is what online market provider Limited Run has discovered, when they realized that 80% of the ad click-throughs that they were paying through were bots:

Hey everyone, we’re going to be deleting our Facebook page in the next couple of weeks, but we wanted to explain why before we do. A couple months ago, when we were preparing to launch the new Limited Run, we started to experiment with Facebook ads. Unfortunately, while testing their ad system, we noticed some very strange things. Facebook was charging us for clicks, yet we could only verify about 20% of them actually showing up on our site. At first, we thought it was our analytics service. We tried signing up for a handful of other big name companies, and still, we couldn’t verify more than 15-20% of clicks. So we did what any good developers would do. We built our own analytic software. Here’s what we found: on about 80% of the clicks Facebook was charging us for, JavaScript wasn’t on. And if the person clicking the ad doesn’t have JavaScript, it’s very difficult for an analytics service to verify the click. What’s important here is that in all of our years of experience, only about 1-2% of people coming to us have JavaScript disabled, not 80% like these clicks coming from Facebook. So we did what any good developers would do. We built a page logger. Any time a page was loaded, we’d keep track of it. You know what we found? The 80% of clicks we were paying for were from bots. That’s correct. Bots were loading pages and driving up our advertising costs. So we tried contacting Facebook about this. Unfortunately, they wouldn’t reply. Do we know who the bots belong too? No. Are we accusing Facebook of using bots to drive up advertising revenue. No. Is it strange? Yes. But let’s move on, because who the bots belong to isn’t provable.

While we were testing Facebook ads, we were also trying to get Facebook to let us change our name, because we’re not Limited Pressing anymore. We contacted them on many occasions about this. Finally, we got a call from someone at Facebook. They said they would allow us to change our name. NICE! But only if we agreed to spend $2000 or more in advertising a month. That’s correct. Facebook was holding our name hostage. So we did what any good hardcore kids would do. We cursed that piece of sh%$ out! Damn we were so pissed. We still are. This is why we need to delete this page and move away from Facebook. They’re scumbags and we just don’t have the patience for scumbags.

(%$ mine)

I'm thinking that the people who will win if this story goes mainstream will be the newspapers.

Much of the allure of online advertising is its ability to closely track response to a specific ad. If that turns out not to be true, then print ads become much more attractive.

H/t Naked Capitalism.

Fabulous!!!

The Democratic Party has decided to place a marriage equality plank in the party platform:

The Democratic Party platform drafting committee approved on Sunday language endorsing same-sex marriage in addition to other pro-LGBT positions as part of the Democratic Party platform, according to two sources familiar with the drafting process.

Retiring gay Rep. Barney Frank (D-Mass.), who sits on the committee, told the Washington Blade on Monday that the 15-member panel unanimously backed the inclusion of a marriage equality plank after a national hearing over the weekend in Minneapolis, in which several witnesses testified in favor of such language.

“I was part of a unanimous decision to include it,” Frank said. “There was a unanimous decision in the drafting committee to include it in the platform, which I supported, but everybody was for it.”

Frank emphasized that support for marriage equality is a position that has been established for the Democratic Party, from the president, who endorsed marriage equality in May, to House Democratic lawmakers who voted to reject an amendment reaffirming the Defense of Marriage Act earlier this month.

There is a lesson to be learned here, if you relentlessly hound Barack Obama, protest his fund raisers, confront his contributors, and organize a donation boycott, then he will EVENTUALLY he'll do the right thing.