Friday, April 30, 2010
Monday, April 26, 2010
Senator Dodd is determined to further damage our financial system as much as possible in the death throes of his career. Why the man who pushed many of the policies that caused the financial collapse in the first place is trying to write regulation to "fix" everything that isn't broken is beyond me.
Friday, April 23, 2010
Wednesday, April 21, 2010
To see a typical white-washing of events here, with the ridiculous comment to the effect that "those types of insults don't usually originate from those that would protest Republican events". Of course, major media were only too happy to jump to conclusions about racist statements at the Capitol Hill health care rally, with zero evidence to back it up. Now there is actual violence that hospitalized two people and they are afraid of "jumping to conclusions".
Saturday, April 17, 2010
UPDATE: DOJ Abandons Warrantless Attempt to Read Yahoo Emails. For now...
Now, Goldman Sachs has been accused of fraud by the SEC, for of all things, failure to disclose conflicts of interest. Funny how that works. This company is so tight with both major parties that they are openly contemptuous of the investigation, so certain are they that the charges won't stick. However, I think they might be in for more trouble than they realize, or at least I hope so, as the moves of this company and its former officers as recent US Treasury Secretaries helped lead the U.S. economy to the brink of collapse.
That being said, I don't see them as being affected too much by this, other than taking a temporary prestige hit, and their position as the preeminent investment bank won't change, owing to their political connections (check out donor records for U.S. Senators to get an idea of how much these guys make it rain for Senatorial campaigns). They will end up coming out ahead if the financial overhaul working its way through the Senate comes to fruition, and this SEC move might even be a calculated gambit on their part to help encourage the Senate to pass a reform bill that will ultimately benefit them more than anyone else, as the government will do the hard and expensive work of due diligence in evaluating other firms more fully that will only help Goldman make more informed investments in the end.
Thursday, April 15, 2010
Wednesday, April 14, 2010
Thursday, April 08, 2010
As always, Jacob brings up some great points. It will be interesting to see how our justice system eventually deals with the legal issues forced into consideration by this new mandate.Unlike growing wheat or marijuana, the decision not to buy medical insurance does not produce anything, let alone a commodity traded between states. Maybe so, say ObamaCare’s defenders, but that decision has an impact on the demand for insurance and on the health care market (one-sixth of the economy!), which the federal government is trying to control in the same way that it tries to control the marijuana trade (with similar prospects of success).
This sort of reasoning leaves nothing beyond the reach of Congress, since anything you do (or don't do) can be said to affect interstate commerce. In its 1995 decision overturning a federal ban on possessing guns near schools, the Supreme Court cautioned against the temptation "to pile inference upon inference in a manner that would bid fair to convert congressional authority under the Commerce Clause to a general police power of the sort retained by the States." That kind of analysis, the Court warned, threatens to "obliterate the distinction between what is national and what is local."
In a recent Heritage Foundation paper, Georgetown University law professor Randy Barnett and two co-authors note that the decision upholding wheat quotas does not mean "Congress can require every American to buy boxes of Shredded Wheat cereal on the grounds that, by not buying wheat cereal, non-consumers were adversely affecting the regulated wheat market."
While displaying more continuity than discontinuity in his policies toward Afghanistan, Iraq and the war against terrorism, and garnering as a result considerable bipartisan support for those policies, Obama appears to be departing from a 60-year-old American grand strategy when it comes to allies. The old strategy rested on a global network of formal military and political alliances, mostly though not exclusively with fellow democracies. The idea, Averell Harriman explained in 1947, was to create "a balance of power preponderantly in favor of the free countries." Under Bill Clinton, and the two Bushes, relations with Europe and Japan, and later India, were deepened and strengthened.This administration pays lip-service to "multilateralism," but it is a multilateralism of accommodating autocratic rivals, not of solidifying relations with longtime democratic allies. Rather than strengthening the democratic foundation of the new "international architecture" -- the G-20 world -- the administration's posture is increasingly one of neutrality, at best, between allies and adversaries, and between democrats and autocrats. Israel is not the only unhappy ally, therefore; it's just the most vulnerable.
Hopefully the folly of this new strategy will become apparent before too much damage is done to certain relationships. No progress will be made with the belligerents without the full-fledged support of our traditional allies, and their dissatisfaction is weakening our position in Afghanistan, with the UK and the Dutch recently withdrawing their troops (generally seen as some of the best in the theatre). These situations should be getting more attention than trying to improve relations with countries like Burma and Syria. One can only hope that the Obama State Department is good at quickly gaining experience at what is an effective strategy and what is not. Strategy from wishful thinking is often more dangerous than the realpolitik so often criticized by many on the Left.