Blah, blah, blah!
Then, I watched Jon Stewart opened up a can of righteous whup-ass on him, and I decided to be lazy.
Enjoy.
Bain Capital is a product of the Great Deformation. It has garnered fabulous winnings through leveraged speculation in financial markets that have been perverted and deformed by decades of money printing and Wall Street coddling by the Fed. So Bain’s billions of profits were not rewards for capitalist creation; they were mainly windfalls collected from gambling in markets that were rigged to rise.It's pretty long, but it's well worth the read, and it is positively devastating.
Nevertheless, Mitt Romney claims that his essential qualification to be president is grounded in his 15 years as head of Bain Capital, from 1984 through early 1999. According to the campaign’s narrative, it was then that he became immersed in the toils of business enterprise, learning along the way the true secrets of how to grow the economy and create jobs. The fact that Bain’s returns reputedly averaged more than 50 percent annually during this period is purportedly proof of the case—real-world validation that Romney not only was a striking business success but also has been uniquely trained and seasoned for the task of restarting the nation’s sputtering engines of capitalism.
Except Mitt Romney was not a businessman; he was a master financial speculator who bought, sold, flipped, and stripped businesses. He did not build enterprises the old-fashioned way—out of inspiration, perspiration, and a long slog in the free market fostering a new product, service, or process of production. Instead, he spent his 15 years raising debt in prodigious amounts on Wall Street so that Bain could purchase the pots and pans and castoffs of corporate America, leverage them to the hilt, gussy them up as reborn “roll-ups,” and then deliver them back to Wall Street for resale—the faster the better.
The Catholic Church on Thursday installed Salvatore Cordileone, a leader in the fight against same-sex marriage, as archbishop of the Archdiocese of San Francisco.Seriously, I'm kind of surprised.
Following his installation as the religious leader of more than 500,000 Catholics in the largely gay-friendly Bay Area, Cordileone, 56, delivered a sermon and spoke about his recent arrest after failing a sobriety test at a police checkpoint.
"God has always had a way of putting me in my place," he said. "With the last episode in my life, God has outdone Himself."
Cordileone spent about 11 hours in a San Diego jail cell in August after he was arrested on suspicion of drunken driving. On Monday, he pleaded guilty to driving with alcohol in his system, said Gina Coburn, spokeswoman for the San Diego City Attorney.
Cordileone has been particularly outspoken in Church opposition to same-sex matrimony as chairman of the U.S. Conference of Catholic Bishops Subcommittee for the Promotion and Defense of Marriage, a role that has put him at odds with many Bay Area Catholics.
He also led Church support for the 2008 voter-approved California state constitutional amendment, Proposition 8, that banned gay marriage.
Most people have heard of Pakistan’s blasphemy law. Carrying the death penalty of life imprisonment for anyone who criticises the Prophet Muhammed or the Qur’an, it gained renewed international scrutiny this year after Rimsha Masih, a young Christian girl apparently suffering from Down's Syndrome, was arrested in Islamabad. She was subsequently freed and a Muslim cleric now stands accused of fabricating evidence against her.While this is not the same as the death penalty for defaming the Mohammad or Islam, I am tickled pink that the same people who are this law's most vociferous supporters are now being targeted by this same law.
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But could that be changing? Here in Karachi, protests against the anti-Islam film that have caused rallies across the Muslim world turned violent. One of the incidents on 21 September was an attack on a Hindu Temple on the outskirts of the city. Protesters attacked the Sri Krishna Ram temple, breaking religious statues, tearing up the Bhagavad Gita (the holy book), and assaulting the temple’s caretaker.
Community leaders took the unusual step of going to the police, who have announced that the case against nine attackers has been registered under Section 295-A of the blasphemy laws. This lesser known section, which covers the “outraging of religious feelings”, can apply to any religion and carries a fine or imprisonment of up to 10 years.
Of course, this case does not represent a sea-change in attitudes just yet. For a start, no one has been charged, or even arrested. But it was a positive move by local police, if only because Pakistan’s religious minorities are frequently too frightened to speak out at all. Numbering about four per cent of the population, this small minority of Christians, Hindus and Islamic sects such as the Ahmadis (regarded as non-Muslims) translates to nearly ten million people, the equivalent of the population of Tunisia. It is not an insignificant number.
The most disturbing revelation in this story is that Jefferson didn't just keep slaves to work on his farm. He wrote that his real business model was "the increase" of his female slaves. He was raising human beings to be auctioned off like livestock. Jefferson calculated that the children of his slaves brought in a reliable 4% return per annum. It was a great business, he recommended it to everyone.This explains much about the political culture of Virginia.
In the movies, we know someone's a benevolent slave-holder if they "don't break up families." Well, those are the movies.
The revisionist fiction is that slavery was an unprofitable institution by Jefferson's time. Wiencek explains how Jefferson breathed new economic life into bonded servitude by devising profitable models for slave labor in factories and wheat fields as tobacco farming was being phased out.
Jefferson spurned a golden opportunity to walk away from the slave trade. An old revolutionary comrade willed Jefferson a small fortune to pay for his slaves' release and education, but Jefferson refused, even though he was the executor of the will.
George Washington freed his slaves upon his death, but Jefferson didn't even go that far.
Some defenders will say that it's unfair to judge Jefferson by the standards of our day, but the fact is, Jefferson fell short of the standards of his own time. He knew it was wrong to own slaves. In fact, his writings helped to set the standards of his day.
Don Harvel thought he was cruising to a well-deserved retirement after 35 years flying cargo planes for the U.S. Air Force. Then in the spring of 2010 he was tapped to investigate the fatal crash of a high-tech Air Force tiltrotor aircraft – and everything changed.We need to understand that the military establishment of the United States is completely captured by the defense industry, and this does not serve either our military needs or the interest of the taxpayers.
What Harvel discovered about the controversial hybrid aircraft drew him into a battle of wills with his superiors at Air Force Special Operations Command. Harvel, then a brigadier general, uncovered evidence of mechanical problems — and resulting safety woes — in the V-22 Osprey, which takes off like a helicopter and flies like an airplane. These are issues the Pentagon has been eager to downplay. So when Harvel refused to alter his findings to match the Defense Department’s expectations, he knew that was the final chapter of his decades-long military service. Harvel’s long-planned retirement was held up for more than two years, effectively silencing him during a troubling chapter in the Osprey’s often-troubled history.
“I turned [my report] in and I knew that my career was done,” Harvel says.
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But the stats reflect altered and miscategorized data. Engine fires clearly costing millions of dollars to fix were downgraded in the paperwork. One malfunction that resulted in a V-22 accidentally taking off uncommanded before crashing to the ground was labeled a ground incident and left off the record. Even leaving out the 1991-2000 crashes, the Osprey’s crash rate before this year’s accidents was roughly double the officially stated figure, making the V-22 no safer than the Marines’ conventional helicopters and far, far more dangerous than its fixed-wing cargo planes.
And that’s mostly due to inadequate testing, Harvel claims. “In their hurry to get this thing painted in a positive light for Congress, some things are coming back to haunt them,” he says of the V-22′s supporters.
"It is not common in the life of the law in America for a lower court and a major segment of its bar to take on the nation's highest court, effectively reversing some major precedents or at least substantially mitigating their impact," notes Steven Flanders in a recent history of the patent court. "Yet this was done."It's a good description of how and why our patent system has gone nuts.
The Federal Circuit, he said, also took on "the quieter and subtler effort to re-educate trial judges throughout the judiciary, to make them friendlier to patent-holders (or at least to the system of patents) as well." (Flanders, it should be noted, is an avowed supporter of the Federal Circuit and its efforts to reshape patent law).
This dismissive attitude toward Supreme Court precedents apparently survives to this day among patent lawyers. In the wake of this year's decision limiting patents on the practice of medicine, patent attorney Gene Quinn wondered, "How long will it take the Federal Circuit to overrule this inexplicable nonsense?" Obviously, the Federal Circuit can't "overrule" a Supreme Court decision. But with enough persistence, it can, and often does, subvert the principles enunciated by the nation's highest court. And when it does so, it almost always works in the direction of making patents easier to obtain and enforce.
If you follow the smartphone patent wars, you've probably heard of the International Trade Commission (ITC), which seems to get dragged into every high-profile patent dispute over the devices. Just this month, Motorola asked the ITC to ban various Apple products from the US, and the ITC separately ruled that Apple doesn't infringe some Samsung patents. But how did this obscure Washington bureaucracy become a major front in the patent wars?Go read both articles.
The ITC has the authority to police "unfair methods of competition" by importers, a phrase interpreted to include patent infringement. Because virtually all mobile devices are manufactured overseas, getting the ITC to ban the importation of a device can be just as effective as getting an injunction from a regular court.
A new study from the Cato Institute, a libertarian think tank, suggests that the ITC's patent-enforcement process is tilted in favor of patent holders—and especially patent trolls. The author, K. William Watson, argues that the inherently discriminatory nature of ITC patent enforcement—ITC cases can only be brought against imported products, not domestically produced ones—violates America's obligations under World Trade Organization rules not to discriminate against foreign products. He says Congress should eliminate the provision of trade law, known as Section 337, that gives the ITC authority over patent issues.
President Barack Obama’s campaign won a federal appeals court ruling that requires every citizen in Ohio be offered the same number of early voting days as members of the U.S. military.Theoretically, it seems to me that the 'Phants could shut down the early voting if they were to strip early voting rights from active duty servicemen, but I'm inclined to believe that the the political repercussions of doing this would be too much for them to try this.
The U.S. Court of Appeals in Cincinnati today rejected a bid by Ohio’s secretary of state and attorney general, both Republicans, to overturn a lower-court order that blocked a law ending pre-election voting three days earlier for civilians than for service-members and overseas citizens.
“There is no relevant distinction between the two groups,” the three-judge panel said. “The state argues that military voters need extra early voting time because they could be suddenly deployed. But any voter could be suddenly called away and prevented from voting on Election Day.”
Ohio controls 18 of the 270 Electoral College votes Obama or his challenger, Mitt Romney, needs to win the presidency and no Republican has won the office without carrying the state. Obama took Ohio with 51.5 percent of the vote in 2008 when more than 100,000 people, out of a total of 5.77 million, cast ballots in the last three days, according to today’s opinion.