Maine: Bush\

March 11, 2009 - 07:11 pm
NEWS FEED: Turn Maine Blue

Pay premiums? Fuck that!

I actually had to walk away from this computer when I first read this, because it is just so totally off the charts I thought I might actually break something - and I can't afford to break my hand:
The federal agency that insures bank deposits, which is asking for emergency powers to borrow up to $500 billion to take over failed banks, is facing a potential major shortfall in part because it collected no insurance premiums from most banks from 1996 to 2006.

The Federal Deposit Insurance Corporation, which insures deposits up to $250,000, tried for years to get congressional authority to collect the premiums in case of a looming crisis.

March 9, 2009 - 06:43 am
NEWS FEED: Turn Maine Blue

Open Thread

Good morning.

You can start your day - and hence your week - with this bracer by Paul Krugman:

As I read it, this dismissal - together with the continuing failure to announce any broad plans for bank restructuring - means that the White House has decided to muddle through on the financial front, relying on economic recovery to rescue the banks rather than the other way around. And with the stimulus plan too small to deliver an economic recovery ... well, you get the picture.

Sooner or later the administration will realize that more must be done. But when it comes back for more money, will Congress go along?

Republicans are now firmly committed to the view that we should do nothing to respond to the economic crisis, except cut taxes - which they always want to do regardless of circumstances.

March 6, 2009 - 09:37 am
NEWS FEED: Turn Maine Blue

What Paul Krugman says

It is rather unfortunate that the Obama administration thinks we're stoopid, but I suppose after 8 years of so many supporting Bush/Cheney, it is understandable. In today's column Paul Krugman explains the scheme:
Take the plan's latest incarnation: a proposal to make low-interest loans to private investors willing to buy up troubled assets. This would certainly drive up the price of toxic waste because it would offer a heads-you-win, tails-we-lose proposition. As described, the plan would let investors profit if asset prices went up but just walk away if prices fell substantially.

But would it be enough to make the banking system healthy? No.

March 2, 2009 - 09:48 pm
NEWS FEED: Turn Maine Blue

Obama: Bagram torture prison to remain open for business

h/t Harry Shearer

Via the Independent the lede says it all:

Less than a month after signing an executive order to close the Guantanamo Bay prison camp, President Barack Obama has quietly agreed to keep denying the right to trial to hundreds more terror suspects held at a makeshift camp in Afghanistan that human rights lawyers have dubbed "Obama's Guantanamo".

In a single-sentence answer filed with a Washington court, the administration dashed hopes that it would immediately rip up Bush-era policies that have kept more than 600 prisoners in legal limbo and in rudimentary conditions at the Bagram air base, north of Kabul.

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Apart from staff at the International Red Cross, human rights groups and journalists have been barred from Bagram, where former prisoners say they were tortured by being shackled to the ceiling of isolation cells and deprived of sleep.

February 27, 2009 - 03:30 pm
NEWS FEED: Turn Maine Blue

Midnight "Conscience" Rule to be repealed

In mid December I wrote about one of the "midnight rules" put forth in the waning days of the Bush/Cheney adminstration - from ProPublica:
A controversial midnight regulation expanding health workers' right to take a moral stance against abortion (or any other procedure that rankles their conscience) sailed through final Office of Management and Budget approval this week and, barring an act of Congress, will soon become law.

The rule would deny federal funding to any medical facilities that discipline workers - from secretaries to managed care executives - who refuse to assist in procedures they find morally troubling. It's one of many midnight regulations we've been tracking.

February 18, 2009 - 05:41 pm
NEWS FEED: Turn Maine Blue

Transparency: www.recovery.gov

Peter Orszag, the Director of the Office of Management and Budget (OMB), sent this memo to every department and agency head:
This memorandum transmits the first installment of government-wide guidance for carrying out programs and activities enacted in the American Recovery and Reinvestment Act ("Recovery Act") of 2009. Please bring this memorandum and attachment to the attention of any personnel within your organization who will be involved in these matters.

The Administration is committed to investing Recovery Act dollars with an unprecedented level of transparency and accountability so Americans know where their tax dollars are going and how they are being spent. The guidance issued today contains critical action steps that Federal agencies must take immediately to meet these objectives and to implement the Act effectively.

February 15, 2009 - 02:30 pm
NEWS FEED: Turn Maine Blue

2009 Camden Conference, 20-22 Febraury

This year's Camden Conference, Global Leadership and the U.S. Role in World Affairs, will be held this coming weekend, 20-22 February in Camden, and includes simulcasts in Belfast, Portland, and Rockland. Tickets are still available for all venues.

Speakers will include former National Security Advisor Brent Scowcroft, delivering the keynote address, former Ambassador to NATO Nicholas Burns, Eileen Claussen, who is President of the Pew Center on Global Climate Change and Strategies for the Global Environment, former Foreign Minister of Australia Gareth Evans, Paula J. Dobriansky, Under-Secretary of State for Democracy and Global Affairs under Bush/Cheney and also at the PNAC, John Deutch, Director of the Central Intelligence Agency under Clinton, and others.

February 11, 2009 - 10:13 am
NEWS FEED: Turn Maine Blue

Obama reinstates (temporarily) offshore drilling ban

Today the Obama adminstration has overturned one of the last actions of Bush/Cheney that would have lifted the ban on offshore oil and gas drilling. From MSNBC this:

The Obama administration on Tuesday overturned another Bush-era energy policy, setting aside a draft plan to allow drilling off the Atlantic and Pacific coasts.

"To establish an orderly process that allows us to make wise decisions based on sound information, we need to set aside" the plan "and create our own timeline," Interior Secretary Ken Salazar announced in a statement.

Alleging that the Bush administration "had torpedoed" offshore renewable energy in favor of oil and natural gas, Salazar said he was extending the public comment period by 6 months.

It will be of interest to learn how this affects the work of Gov. Baldacci's Ocean Energy Task Force.

February 9, 2009 - 08:30 pm
NEWS FEED: Turn Maine Blue

Sen. Leahy

As to the best course of action for bringing a reckoning for the actions of the past eight years, there has been heated disagreement.  There are some who resist any effort to investigate the misdeeds of the recent past.  Indeed, some Republican Senators tried to extract a devil's bargain from the Attorney General nominee in exchange for their votes, a commitment that he would not prosecute for anything that happened on President Bush's watch.  That is a pledge no prosecutor should give, and Eric Holder did not, but because he did not, it accounts for many of the partisan votes against him.

February 6, 2009 - 06:53 pm
NEWS FEED: Turn Maine Blue

GOP senators: You want compromise? Reduce the tax breaks

I guess I'm missing something. Here is the definition of compromise:

a settlement of differences by mutual concessions; an agreement reached by adjustment of conflicting or opposing claims, principles, etc., by reciprocal modification of demands.

Mutual concessions. But after eight years of Bush/Cheney, the meaning seems to have evolved, eliminating the word "mutual."

If Republican senators, including Snowe and Collins, want compromise, then there needs to be talk about reducing the tax cuts in the stimulus bill. That $90 billion that they want to cut - 40% needs to consist of tax break reductions.

That is compromise. That would be bi-partisan.