Friday, January 29, 2010

Are Billionaires Really Bad?


Those that criticize the wealthy for being greedy and money seeking need to look at examples of philanthropists like Bill and Melinda Gates. They give back to the community:
Bill and Melinda Gates announced plans Friday to invest $10 billion in the fight against a number of illnesses including AIDS and said the record donation could save nearly nine million lives.
They have a lot of money, but they're putting some of it towards worthy causes. There are a lot of people who overlook this fact.

Bin Laden's Back

Not quite back big though...

Here are some of the details of the tape:

"It is necessary for us to avoid doing business in the dollar, and to finish with it in the fastest possible time," bin Laden said on the brief tape.
It continues with his anti-imperialist stance against the United States.

Thursday, January 28, 2010

High Speed Rail!


California will get a lot of the funds:
California will receive a $2.34 billion slice of the $8 billion of federal stimulus funds earmarked for high-speed rail projects, more than any other state. But that is only a sliver of the $42 billion it will need to build an 800-mile line to carry the nation's first 220-m.p.h. trains.
The big winner, of course, was Obama's home state of Illinois:
Illinois would reap $1.23 billion in economic stimulus awards for high-speed rail projects under President Barack Obama's plan for $8 billion in such spending nationwide.
Obama keeps ramming this idea about getting special interests and lobbyists out of Washington, but that process clearly would involve getting himself out of Washington. His favoritism towards his home state has been nothing short of shameful. I just don't understand why Illinois is getting such a big piece of a pie that quite frankly isn't that large to begin with. Selfish poltics at its best.

JD Salinger: Dead


I hope that most of you have read Catcher in the Rye. It's one of my favorite books of all time, and I've been intending on reading it again at some point. Unfortunately, the author, JD Salinger, died yesterday of natural causes:
J.D. Salinger, the legendary author, youth hero and fugitive from fame whose "The Catcher in the Rye" shocked and inspired a world he increasingly shunned, has died. He was 91.

Salinger died of natural causes at his home on Wednesday, the author's son said in a statement from Salinger's literary representative. He had lived for decades in self-imposed isolation in the small, remote house in Cornish, N.H.
You will be missed.

The Hangover: State of the Union

What's being said about the State of the Union speech the day after?

Review: State of the Union

As I previewed earlier, today was Obama's State of the Union speech. In the speech, which lasted well over an hour, Obama discussed a wide range of topics, from healthcare, the economy, gay rights, a high speed rail, the supreme court and national security. What I want to do is see reactions over the different issues.

First off, Here's the Republican response:

Health Care
Obama called for the senate to resolve the healthcare bill:
“This is a complex issue, and the longer it was debated, the more skeptical people became,” he said. “I take my share of the blame for not explaining it more clearly to the American people. And I know that with all the lobbying and horse-trading, this process left most Americans wondering what’s in it for them.”
It doesn't appear like he's getting a favorable response.
Sen. Mary Landrieu (D-La.) said that, after watching the speech, health reform appeared unlikely to pass as one comprehensive package.

"I think right now it's less than 50-50," she said of a consolidated bill passing. "It's very hard to see a path forward in the current arrangement."
The healthcare bill has been much maligned. I personally felt that the senate was pushing it when there were other issues that were more prevalent such as the economy. I've heard criticisms from both sides and statistics and what not, but I have absolutely no idea what the bill entails. If the senate wants public support, it's important that the public know clearly how they will be affected by it. John McCain criticized the Obama administration for promising transparency, but not delivering. The healthcare issue is exhibit A.

Economy
Obama has called for a new jobs bill:


Gay Rights

John McCain's response:
“In his State of the Union address, President Obama asked Congress to repeal the ‘Don’t Ask, Don’t Tell’ policy. I am immensely proud of, and thankful for, every American who wears the uniform of our country, especially at a time of war, and I believe it would be a mistake to repeal the policy.

“This successful policy has been in effect for over fifteen years, and it is well understood and predominantly supported by our military at all levels. We have the best trained, best equipped, and most professional force in the history of our country, and the men and women in uniform are performing heroically in two wars. At a time when our Armed Forces are fighting and sacrificing on the battlefield, now is not the time to abandon the policy.”


High Speed Rail
Here is the plan that will arise from the speech:
President Obama will kick off his post-State of the Union tour with what aides describe as a major economic announcement -- $8 billion to begin building a high-speed rail infrastructure in multiple states.

The money is a "downpayment" on the rail system, officials said, and will go to local governments for distribution. A total of 13 major areas will benefit from the project, whose reach will be felt in 31 states, the administration said.


Supreme Court
President Obama criticized the Supreme Court:
"With all due deference to separation of powers, last week the Supreme Court reversed a century of law that, I believe, will open the floodgates for special interests, including foreign corporations, to spend without limit in our elections."
Justice Alito was not very pleased:
"Not true, not true," he appeared to say, as he shook his head and furrowed his brow.
Conservative legal groups aren't happy either:
"The President's swipe at the Supreme Court was a breach of decorum, and represents the worst of Washington politics -- scapegoating 'special interest' bogeymen for all that ails Washington in attempt to silence the diverse range of speakers in our democracy," said Bradley A. Smith, a former FEC member and chairman of the Center for Competitive Politics.
Citizens United had this to say:
"President Obama's remarks tonight reflect a woeful disregard for the fundamental First Amendment rights of American citizens," said Citizens United President David N. Bossie.

But he added: "That being said, I absolutely support President Obama in his call for a ban on spending in American elections by foreign corporations. While I unreservedly support the rights of every American citizen to have their voice heard, there is no place for foreign actors in our political process."
It will be interesting to see how the Supreme Court ruling will be challenged in the future.

National Security
Here's a taste of the reaction for National Security:
David Rothkopf, a former Clinton administration official and foreign policy expert, said Wednesday night that he “can’t recall a state of the union that devoted less time or attention to foreign policy issues than this one.”

Wednesday, January 27, 2010

Preview: Obama's State of the Union


Pushing the healthcare agenda:
“By the time I’m finished speaking tonight, more Americans will have lost their health insurance,” the excerpts say. “Millions will lose it this year. Our deficit will grow. Premiums will go up. Co-pays will go up. Patients will be denied the care they need. Small business owners will continue to drop coverage altogether.”

But, he adds: “I will not walk away from these Americans. And neither should the people in this chamber.”
A large reason people are losing healthcare is because they are losing their jobs. If we improve the unemployment rate and create more jobs, I have no doubt that less people will be without healthcare. Dire times lead to dire measures. Cutting healthcare is one of those methods. I hope Obama focuses heavily on improving the economy and more so takes action to improve it. He's a great speaker, but he needs to be a great president.

What's New? Apple's iPad


Steve Jobs introduces the iPad:

Looks like another wonderful technological innovation from Apple. Here's what Steve Jobs had to say:
The iPad “is so much more intimate than a laptop, and it’s so much more capable than a smartphone with its gorgeous screen,” Mr. Jobs crowed. “It’s phenomenal to hold the Internet in your hands.”

Sounds incredible, and I'm sure millions of people will flock to Apple Stores just to check it out. Here are some of the features from Apple Insider. It's Apple's world, we're just living in it.

Saturday, January 23, 2010

Obama's Bank War: Banks Prepare to Strike Back

Wall Street is gearing up to respond to Obama's offensive against Big Banks:
Banks are mobilising a smooth-running lobbying machine in Washington to battle Barack Obama's plans to limit the size and scope of Wall Street institutions, as financial services firms gear up to stop a shake-up that could slice away large chunks of their operations.

Their influence on Capitol Hill is broad – the top eight US banks spent $26m (£16m) on lobbying efforts last year, an increase of 6% on 2008 despite their financial woes, according to Congressional records. And in the first 10 months of 2009, the financial industry donated $78.2m to federal candidates and party committees – more than any other business sector – according to political research institute the Centre for Responsive Politics.
The banks are not going to be pushed around.

Friday, January 22, 2010

Frightening Images of Looting

In Haiti

There seems to be no control over the distribution of supplies. It's every man for himself. It's all about survival. It's like the whole world is using a Darwin experiment on Haiti. It's kind of disturbing seeing people getting this on camera and not helping the people.

Brown Takes Washington


Senator Scott Brown of Massachusetts has arrived in Washington DC. The Boston Globe is suggesting that it's important that he and Senior Senator John Kerry get along, and I tend to agree:
“Within any legislative body, all the incentives are to collaborate,’’ said Marty Linsky, a politics professor at Harvard’s Kennedy School of Government. “It’s not in either Brown’s or Kerry’s best interests not to get along and not work together. In the past, [senators in opposite parties] actually found it good for the state to be able to collaborate. It gave each one of them access to the other party.’’

And that, Linsky said, makes it easier to bring home the federal bacon.

In the Senate, he added, “you can’t afford to alienate anybody, particularly someone in your own jurisdiction. We’ll see a lot more collaboration than conflict.’’
It will be interesting to see how this relationship develops.

Thursday, January 21, 2010

Conan Cash II

Conan looks like he's going to be making straight bank:
After a last long night of negotiations, the deal to end Mr. O’Brien’s short term as host of “The Tonight Show” was concluded with an agreement that will pay him about $32 million and free him up to return to television in eight months.
May be Conan on Fox will be a reality.

Obama's Bank War Continues


Here are Greg Mankiw's Thoughts:
Will the tax law in fact be so well written? It certainly won't be perfect. But it is possible that it will be better than doing nothing at all, watching the finance industry expand excessively, and waiting for the next financial crisis and taxpayer bailout.

Supreme Court Ruling on Campaign Finance

An explanation:

I'll add some brief thoughts later when I can actually watch the video. Here are some thoughts of various people. Barack Obama:
"With its ruling today, the Supreme Court has given a green light to a new stampede of special interest money in our politics. It is a major victory for big oil, Wall Street banks, health insurance companies and the other powerful interests that marshal their power every day in Washington to drown out the voices of everyday Americans. ... We are going to talk with bipartisan congressional leaders to develop a forceful response to this decision."

Chief Justice John Roberts:
"The text and purpose of the First Amendment point in the same direction: Congress may not prohibit political speech, even if the speaker is a corporation or union."
Justice John Paul Stevens:
"The court's ruling threatens to undermine the integrity of elected institutions around the nation."
Theodore Olsen, who argued the case for Citizens United:
"Speech about our government and candidates for elective office lies at the heart of the First Amendment, and the court's decision vindicates the right of individuals to engage in core political speech by banding together to make their voices heard."
Senator Russ Feingold, a Democrat from Wisconsin:
"Presented with a relatively narrow legal issue, the Supreme Court chose to roll back laws that have limited the role of corporate money in federal elections since Teddy Roosevelt was president. Ignoring important principles of judicial restraint and respect for precedent, the court has given corporate money a breathtaking new role in federal campaigns."
Senator John McCain, Republican from Arizona:
"I am disappointed by the decision of the Supreme Court and the lifting of the limits on corporate and union contributions."

Wednesday, January 20, 2010

West Ham Move?


The new ownership at Upton Park of David Gold and David Sullivan have stated their desire to move to the new Olympic Stadium:
"If we could get this huge ground, we could take football back to the people," Sullivan said. "We could reduce the admission prices to the cheapest in the Premier League because we would have the capacity to do it."
The big issue would be seating capacity as the Olympic Stadium's capacty is due to be reduced to 25,000 with the track left. West Ham hope for there to be no track and to have a seating capacity of 55,000. I don't know if the club can come to an agreement, but there's plenty of time. These owners seem to have a very strong long term plan.