Jack & Jill Politics

New Document: It Was Cheney at the Wheel of Plame Media Strategy
*No shit Sherlock!
By Susie Madrak Friday Jul 03, 2009 10:17am

Another controversy where the Obama administration is walking in the footsteps of BushCo!

I will say here that I'm no more optimistic that Hillary Clinton's response would have been any different. The nature of power is such that one can always find a strong enough argument for retaining it "just in case" once it's been exercised. But then again, Clinton wasn't the one who sold herself to us on the basis of a new transparent era, either:

A document filed in federal court this week by the Justice Department offers new evidence that former vice president Richard B. Cheney helped steer the Bush administration's public response to the disclosure of Valerie Plame Wilson's employment by the CIA and that he was at the center of many related administration deliberations.

The administration's discussion of Wilson's link to the CIA was meant to undermine criticism by her husband of administration allegations that Iraq attempted to acquire uranium, a matter that her husband had probed for the CIA, according to testimony presented in a 2007 trial.

A list of at least seven related conversations involving Cheney appears in a new court filing approved by Obama appointees at the Justice Department. In the filing, the officials argue that the substance of what Cheney told special prosecutor Patrick J. Fitzgerald in 2004 must remain secret.

No such agreement was reached between Fitzgerald and Cheney at the time of their chat, according to a 2008 Fitzgerald letter to lawmakers. But the Bush administration rejected requests by Congress and a nonprofit group for access to two FBI accounts of the conversation, saying the material was exempt from disclosure under subpoena or the Freedom of Information Act.

The Obama administration has since agreed that the material should not be disclosed. A Justice Department lawyer at one point last month argued that vice presidents and other White House officials will decline to be interviewed in the future if they know their remarks might "get on 'The Daily Show' " or be used as fodder for political enemies.

U.S. District Judge Emmet G. Sullivan expressed doubt about that argument. To counter Sullivan's skepticism, Assistant Attorney General Lanny A. Breuer said in a supporting affidavit to the new court filing that the department needs the ability to interview White House officials informally in future law enforcement investigations, and that if the Cheney interview summaries are made public, "there is an increased likelihood that such officials could feel reluctant to participate." Breuer served as special counsel to President Bill Clinton during the Whitewater probe.

The nonprofit group pushing for disclosure, Citizens for Responsibility and Ethics in Washington, responded yesterday with a statement that the Justice Department has subpoenaed such officials without difficulty in the past. "It is astonishing that a top Department of Justice political appointee is suggesting other high-level appointees are unlikely to cooperate with legitimate law enforcement investigations. What is wrong with this picture?" said Melanie Sloan, head of the group.

http://crooksandliars.com/susie-madrak/new-docu...

You know Palin has that book deal and all those pr trips to make.......can't be doing serious governor work at the same time. Her brain might explode.

WTF??????

Palin steps down as Alaskan Gov.????

Story unfolding on CNN.

What info is about to come out about her?

http://www.cnn.com/2009/POLITICS/07/03/palin/in...

TMZ get to Alaska, the truth about Trig is about to drop

Mudflats is up at her old site.... 'back-up.'

http://mudflats.wordpress.com/

HMMMMMMM... Muds seems to think their are ethics issues. She's hiding something.

Palin reportedly stepping down as Alaska governor

July 3: Sarah Palin is reportedly stepping down as Alaska's governor. MSNBC's Alex Witt reports.

http://www.msnbc.msn.com/id/21134540/vp/3172684...

PALIN RESIGNS!
3 07 2009
The news hit, and the servers at themudflats.net crashed immediately with all the traffic.
Sarah Palin has announced that she will be stepping down in two weeks, and handing over the reins to Sean Parnell.
There’s a story here somewhere. I’ll be writing more on this as details become available.
So, feel free to celebrate here, and I’ll be up on the regular site as soon as possible.

http://mudflats.wordpress.com/2009/07/03/palin-...

LMAO...that's where I went first too...

BWA HA HA HA HA HA HA

Lawdy, I wonder how GreenLady's doing. She's would've posted it pronto.

GreenLady, we love and miss you!

'Cuz ya know that's RIGHT where I headed first! Had to make due with 'Blue Oregon.' The permafrost must've heaved or something.

So Palin is stepping down as AK Governor at the end of July. Why? No one knows. I guess she figured she should get out of there before her, her family, and her state become a national joke. Oh wait. . .

According to the Hill she is resigning....maybe she is getting serious about brushing up on foreign policy after all for 2012. Can't believe she has been advised to resign though, like quitting half way through the job? I'm still rooting for a Palin/Joe the Plumber ticket!

http://thehill.com/leading-the-news/palin-to-re...

According to something I heard - she's not running in 2012 either. Oh - shit: 2016?

Greta is saying every time folks go on the attack with palin her supporters react. Sno Ho's up to something.

Maybe she's going tback o school and lean how to become POTUS?

I'm keeping my eyes on Mudflats....

Just walked into someone's room who was watching Fox and Sarah Palin RESIGNED - I let out an involuntary 'woot'.

She's turning over the governorship to Lt. Gov. Sean Parnell. He'll be sworn in July 25.

Today's Conversation: My Observations On Quincy Jones Questioning Michael Jackson's Blackness Pot Meet Kettle

http://tinyurl.com/lrcuco

Here's Bo Obama's official WH portrait and stats.

http://www.flickr.com/photos/whitehouse/3641503...

Download here

http://www.whitehouse.gov/blog/Bo-The-Portrait-...

Oh-oh, ya know MSNBC is serious about covering Michael Jackson when they broadcasting instead of showing the 'Lock Down' "documentaries."

Missed this from The Colbert Report Wednesday:

The Clinton Curse

LOL! Aint Karma's a big fat Bitch.

Jackson memorial planned for Tuesday at Staples Center

A spokesman for the singer's family said 11,000 tickets will be distributed for the 10 a.m. event, which will be free. City officials are concerned about security and logistics.
By Maria Elena Fernandez, Maura Dolan and David Zahniser
July 3, 2009
Staples Center will be the site of a public memorial service on Tuesday for Michael Jackson, a publicist for the Jackson family said Thursday, but it is unclear who will pay for the massive law enforcement deployment necessary for the event.

Ken Sunshine, a Jackson family representative, said the service will be held at 10 a.m. Tuesday at the downtown arena, site of the singer's final rehearsal.
Further details will be announced at a news conference this morning, including how people may register for the 11,000 tickets that will be distributed to the public.

All tickets to the event will be free, according to a news release from Sunshine's firm.

Earlier in the day, Sunshine had asked for the public's patience as the family sorted through details of the service.


"There's a lot of sensitivities, and everyone should respect that," Sunshine said.

Randy Phillips, chief executive of AEG Live, the promoter of the 50 Jackson concerts that had been planned for London, said the ultimate decision about the date and format of a memorial lay with Jackson's mother, Katherine.

http://www.latimes.com/news/local/la-me-jackson...

Has anyone heard of or seen this guy? ummm....

The Slave Mind Pt. 1
http://www.youtube.com/watch?v=h6KBC9LCzJs&feat...

Imus & the Slave Mind Part II

http://www.youtube.com/watch?v=Ql8O6Qw9neQ

I would call this a YT list, but I do agree with Hendrix, Marvin Gaye, and of course Whitney Houston being some of the best. This was Whitney at her best.

TNR Video Slideshow: The Best And Worst Of National Anthem Performances

This shit just keeps coming. Naval Academy Professor thinks current class is to diverse.
Will someone please ask him then why did John McCain get in and why are all the goats white if this is true?
http://www.washingtonpost.com/wp-dyn/content/ar...

I know this isn't the point you were trying to make but I think Tom Ricks makes a good one....we should do away with military academies altogether and use the other excellent educational institutions we have.

http://www.washingtonpost.com/wp-dyn/content/ar...

"Why We Should Get Rid of West Point

By Thomas E. Ricks
Sunday, April 19, 2009

Want to trim the federal budget and improve the military at the same time? Shut down West Point, Annapolis and the Air Force Academy, and use some of the savings to expand ROTC scholarships.

After covering the U.S. military for nearly two decades, I've concluded that graduates of the service academies don't stand out compared to other officers. Yet producing them is more than twice as expensive as taking in graduates of civilian schools ($300,000 per West Point product vs. $130,000 for ROTC student). On top of the economic advantage, I've been told by some commanders that they prefer officers who come out of ROTC programs, because they tend to be better educated and less cynical about the military.

This is no knock on the academies' graduates. They are crackerjack smart and dedicated to national service. They remind me of the best of the Ivy League, but too often they're getting community-college educations. Although West Point's history and social science departments provided much intellectual firepower in rethinking the U.S. approach to Iraq, most of West Point's faculty lacks doctorates. Why not send young people to more rigorous institutions on full scholarships, and then, upon graduation, give them a military education at a short-term military school? Not only do ROTC graduates make fine officers -- three of the last six chairmen of the Joint Chiefs of Staff reached the military that way -- they also would be educated alongside future doctors, judges, teachers, executives, mayors and members of Congress. That would be good for both the military and the society it protects."


We should also consider closing the services' war colleges, where colonels supposedly learn strategic thinking. These institutions strike me as second-rate. If we want to open the minds of rising officers and prepare them for top command, we should send them to civilian schools where their assumptions will be challenged, and where they will interact with diplomats and executives, not to a service institution where they can reinforce their biases while getting in afternoon golf games. Just ask David Petraeus, a Princeton PhD.

Thomas E. Ricks is a senior fellow at the Center for a New American Security and author of "The Gamble," about the Iraq war from 2006 to 2008.

Jackson didn't want to be black - MICHAEL JACKSON's producer QUINCY JONES claims the singer LIED about his skin condition and just "didn't want to be black".

Besides young boys and music, it seems that Jacko didn't like much else...

"Man in the Mirror"

http://www.youtube.com/watch?v=1zpTQCQEFhg

Go to hell, troll.

You're so 2000 and late.

No Message Could Have
Been Any Clearer
If You Wanna Make The World
A Better Place
Take A Look At Yourself And
Then Make A Change
Hoo! Hoo! Hoo! Hoo! Hoo!
Na Na Na, Na Na Na, Na Na,
Na Nah
Gonna Feel Real Good Now!
Yeah Yeah! Yeah Yeah!
Yeah Yeah!
Na Na Na, Na Na Na, Na Na,
Na Nah
(Ooooh . . .)
Oh No, No No . . .
I'm Gonna Make A Change
It's Gonna Feel Real Good!
Come On!
(Change . . .)
Just Lift Yourself
You Know
You've Got To Stop It.
Yourself!
(Yeah!-Make That Change!)

I just watched this segment on CNN about a black woman who started Yummie Spoonfuls, a top rated organic baby food company.

Here is a link to the segment. Thought it might be interesting to those into healthy eating or starting a small business.

http://newsroom.blogs.cnn.com/category/anchors/...

03 Jul 2009 09:46 am

The Odd Lies Of Sarah Palin XXXII: Todd And The AIP


You know I said a lot of tough things about Steve Schmidt in the rough and tumble of the campaign, but the more we find out about what actually went on, the more you realize he was actually one of the few sane people with real clout in the McCain implosion. And CBS News has some new evidence of a classic Palin lie - deployed against the McCain campaign. She tried to argue that it was false that her husband had been a member of the Alaska Independence Party and false that the Alaska Independence Party actually supports secession. Here's the email she fired off to Schmidt when the press exposed her husband's extremist politics:

"That's not part of their platform and he was only a 'member' bc independent alaskans too often check that 'Alaska Independent' box on voter registrations thinking it just means non partisan. He caught his error when changing our address and checked the right box. I still want it fixed."

This is a classic Palin lie - because it has a high school quality to it and is provably untrue in the public record. CBS points out:

The box that Alaskans have the option of checking when registering to vote states the full name of the party, "Alaskan Independence Party," not "Alaska Independent," which would make an error by uncommitted voters more plausible.

To his eternal credit, Schmidt fired back:



"Secession. It is their entire reason for existence. A cursory examination of the website shows that the party exists for the purpose of seceding from the union. That is the stated goal on the front page of the web site. Our records indicate that todd was a member for seven years. If this is incorrect then we need to understand the discrepancy. The statement you are suggesting be released would be innaccurate. The innaccuracy would bring greater media attention to this matter and be a distraction. According to your staff there have been no media inquiries into this and you received no questions about it during your interviews. If you are asked about it you should smile and say many alaskans who love their country join the party because it speeks to a tradition of political independence. Todd loves his country

We will not put out a statement and inflame this and create a situation where john has to adress this."


These are the words of a sane professional grappling with smeone who can only be called a pathological whack-job, unable to accept criticism and responding to it with pathetic untruths and diva-flame-outs and personal vendettas. This person could have been a heartbeat away from being president of the United States in a moment of economic crisis and national security peril. Her selection remains the most surreal moment in modern American political history. That she is a serious candidate to be the GOP nominee in 2012 is a sign of something very, very seriously wrong with the contemporary American right.


http://andrewsullivan.theatlantic.com/the_daily...

Liar, Liar, Palin's on Fire.

good grief, typical Palin bs.....definitely qualifies for "Psycho Talk" on the Ed Show.

Is anyone else watching the news that Ms. P is not only not running for President in 2012, but that she is stepping down from the governor's office??

Just saw a few seconds of it. Might have to head over to Mudflats.

Mudflats is on it.

Because of my great-niece, I watch more than my share of children's tv these days. I pay for the Baby First channel on DirectTV - no commercials. I'm watching these shows, and am like, 'how come some of these programs can't have BLACK faces?' I'm watching something called The NOTEKINS (as in musical notes)...how come all the musical tones [do-re-mi-fa, etc.] gotta be WHITE?

Black Children's TV presenter "scares young viewers"

A children's TV channel came in for criticism last night when complaints were made about its new presenter Simon Churchill who some parents claimed "scared their kids".

Churchill, 26, whose grandfather was from Jamaica and settled in the the UK in 1946 after serving in the RAF, took up his role in January. Whilst he has proved popular, his appointment has drawn criticism from some parents who complained, saying that the appearance of a non-white face had startled and confused their children, causing some to cry and have nightmares.

"I'm not a racist" said Anja Grey from Faversham, Kent "and I'm sure black people do have an important part to play in society, but I just feel Churchill's appointed was inappropriate as it has left me to answer awkward questions being asked by an inquisitive 4 year old".

Other parents have voiced similar concerns. Jo Clarke of Dover said "My son wanted to know why the man had different skin to the other presenters. When I told him to shut up and stop asking me questions, he burst into tears."

"Now my son is refusing to eat his dinner, all thanks to irresponsible broadcasters!" She added.

The broadcaster has stood by the appointment of Churchill, saying "when we appointed Simon it was on the grounds of his wonderful personality and sense of humour." they added "we have so far received nine complaints, one of which was sent in error thinking it was something to do with Russell Brand".

But this still left some parents unhappy.

"We should not have explain to our kids the things they see on TV" said Ms Grey "they have a duty of care to make sure that we can offload any responsibly as parents on to them. I'm sure Simon is a nice person, I've heard some black people are, but is this really appropriate in 21st century Britain?"

http://www.thespoof.com/news/spoof.cfm?headline...

"We should not have explain to our kids the things they see on TV"
That, ladies and gentlemen, is the PROBLEM. Parents don't want to do their fucking jobs.

Get outta here!LoL!

is that article real?

Well it came from the spoof dot com. So I doubt it.

LOL!

That's surprising. I watch Nick and Disney with my nieces and I love the fact their are so many black and brown faces. I've never heard of Baby First but I will be sure to avoid it.

She is a toddler, and they do a lot of educational material. one of her favorites is the guy that sings about going to sleep, taking a nap - he's a Black guy..lol

but, I just think the animated stuff could be more diverse.

and, why are mice used a lot in kids stuff??

I get now why Dora, and Maya and Miguel are popular.

Well when they get around to playing Stand by Me they have to introduce the black NOTEKINS. Something to look forward to!

There is a group of bondholder of GM debt whom are currently in the court trying to have the reorganization of GM done differently. Differently means going the traditional route of reorganization. This method would return bondholders as the party that is paid first. It is of importance to them as they are speculators whom paid $20 per $1000 face value and would likely receive more than they would under the current plan.
All of this is normal speculation. The problem is this time its diifferent. The bondholders say the plan alternative is liquidation and the government is bluffing giving how much is at stake. Personally I think the government is bluffing too but it should never have gotten this far.
To let it have gone to court was BS in my opinion. GM received TARP money. There is a section 112, I believe-not using my computer for bookmarks, that says the Treasury Sec can do as he see fit to protect the economy if you receieved TARP money. Why the Treasury Sec has not stepped up to the plate and rained down the Hell and Damnation of TARP on these people is beyond me.
Doing so would dramatically call attention to how fragile the system is, why the Government has been forced to borrow so much damn money to save the system and finally why speculators should excercise some common sense.
http://www.washingtonpost.com/wp-dyn/content/ar...

03 Jul 2009 08:06 am

The Odd Lies Of Sarah Palin XXXI: The Cost Of Ethics Complaints
Mudflats has found another untruth from the office of the Alaskan governor:

“In the past two years, the state of Alaska has spent millions of dollars processing ethics complaints, public records requests, and related lawsuits.”

Actually:

The complete breakdown is not yet available, but we do know this about the three spendiest ones: $187,797 stemmed from the Troopergate investigation, a good chunk of which Palin initiated herself. We’ll get back to that. $43,028 stemmed from a complaint by Andree McLeod which resulted in a recommendation that a state employee undergo ethics training for a series of “troubling emails.” $29,962 most likely came from the “travel gate” investigation in which Palin reimbursed almost $10,000 for expenses billed to the state for her children’s travel expenses. That’s the top three, none of which sound particularly “frivolous.” So once we crunch the numbers, it’s highly likely that the most expensive investigation brought about by an individual, is Palin’s investigation of herself. And let’s just review that one more time.


It just keeps coming, doesn't it?

http://andrewsullivan.theatlantic.com/the_daily...

Kennedy Plan Calls for Government Health Program, Employer Fees
By Brian Faler and Catherine Dodge


July 3 (Bloomberg) -- Senator Edward Kennedy’s health committee released a new health-care overhaul plan that lawmakers said would lead to coverage for most Americans, in part by assessing fees on companies that don’t offer insurance.

The plan includes a government-run insurance program as an alternative to private coverage, and would cost about $400 billion less than an earlier proposal.

Kennedy, a Massachusetts Democrat, and Senator Chris Dodd, a Connecticut Democrat, said in a letter to members of the Senate Health, Education, Labor and Pensions Committee that the plan would cost $611.4 billion over 10 years, citing an analysis by the non-partisan Congressional Budget Office.

The CBO later released a preliminary analysis of the legislation pegging its net cost at about $600 billion. That’s down from an estimate of $1 trillion for a previous draft of the legislation.

The new plan, when combined with another proposal in the Senate Finance Committee, would help lead to health-insurance coverage of 97 percent of Americans, Dodd said. The CBO said Kennedy’s portion of the plan would extend coverage to about 20 million Americans, a little less than half of the estimated 44 million uninsured Americans.

http://www.bloomberg.com/apps/news?pid=20601103...

And the question remains: What happens if you're broke and/or underemployed and paying for healthcare will mean less food on the table?

How so?

If it's mandatory that you get healthcare....what happens if you dont have the money to pay for it? Or what happens if you're making $9.00 an hour? Why should you be punished/fined for NOT getting healthcare when, actually signing up for a plan, will mean taking away from food or what not.

They are going increase Medicare eligibility.

Okay, this "save Black radio" commercial is annoying. I'm sorry, but people with a pronounced lisp should not do radio. . .

But on another note, is Black radio worth saving? I assume the ad is all about RadioOne (who seems to own all of the Black radio stations) and if you listen to the contemporary stations (not the oldies stations) it doesn't really seem like they are worth being saved. Honestly, I don't even really listen to the radio anymore, I tend to stick to my iPod, if an artist I like comes out with something new, I download their album (yes, I pay for it). What do you guys think?

Although I am not a big fan of Atrios, I thought his comment on the Michelle Obama/Black reporter article in WaPo brings it on home, just as many of the jjp commenters have. The article link that is the "jeopardy answer" is:

http://www.washingtonpost.com/wp-dyn/content/ar...

Atrio's comment is:

"I'll Take Howard Kurtz For $1000, Alex

What is "questions never asked of white people?"

And extra Double Jeopardy for this paragraph:

'Such developments can foster a mixture of tokenism and opportunity. When Jesse Jackson made his first White House run in 1984, a number of black political reporters got their first crack at a presidential campaign. The assignment was a sideshow -- Jackson had no serious chance of winning -- but also boosted the careers of his chroniclers.'

So, token assignments for black reporters who were given career boosts even though they were just assigned to a "sideshow." I'm sure the boys on the ThompsonGiulianiHuckabeeMittens buses will have their assignments characterized similarly."

last night folks were talking about that line Obama had, about MJ & reactions to his response in the black community; here's the video: http://hosted.ap.org/specials/interactives/wdc/...

and yes, he said just like you thought he did! priceless.
and the lady interviewing him, had the nerve to try and tell him he was wrong, because all the black people she knows were upset. LMAO.

WTH?

Does anyone at JJP have Jennifer Loven's email? Did she actually say she gets a lot of email from the black community or did she mean she was receiving lots of email on the topic of MJ's death?

Who is this BROAD.

I want her email address, we all need to write her so she DOES hear from the black community....I can not believe the temerity of this woman to actually question Obama like she did on the 'black community'

where is GLH or Justice....cause Loven needs a Slaaaaaap!

Her arrogance is blinding... "well, I've gotten a lot of emails about it.."

Well, LA DEE DA, That's mighty white of you, Missy!! LOLOLOL

OK! Heffa acting like she went to the hood and conducted a survey. Like she the go to person for when black folks are mad about something. Girl, BYE!

I know!

The best thing that can happen is for her TO actually hear from us.

Rip her a new one.

Can you just say what he said? When I click that link it starts autoplaying and won't let me click on the part about MJ

Look on the side to the left of the video for the menu, select MJ and click..it will switch to MJ.

I tried that, and it wouldn't switch.

Here is the transcript:

Q: A lot of folks in the black community are concerned about how you reacted to Michael Jackson's death, that it wasn't respectful enough or out front enough. How do you react to that?

Obama: Well, I'm not, I don't know. I know a lot of people in the black community. I haven't heard that.

Q: Well, I'm getting a lot of e-mail about it, and a lot of folks feel like there wasn't an official statement or something from you. It's not the typical way that the White House responds when somebody of stature dies.

Obama: Well, look, you're the first person who has actually asked me about it. So I think that Michael Jackson is, will go down in history as one of our greatest entertainers. I grew up on his music. Still have all his stuff on my iPod. I think that his brilliance as a performer also was paired with a tragic and, in many ways, sad personal life. But I'm glad to see that he is being remembered primarily for the great joy that he brought to a lot of people through his extraordinary gifts as an entertainer.

and we wonder why we get so cynical about business in America

http://www.wfaa.com/sharedcontent/dws/wfaa/late...


Aircraft repair jobs sold to foreign workers, resumes not important

02:12 PM CDT on Wednesday, July 1, 2009

The Great American Bubble Machine

Matt Taibbi on how Goldman Sachs has engineered every major market manipulation since the Great Depression
MATT TAIBBIPosted Jul 02, 2009 8:38 AM

http://www.rollingstone.com/politics/story/2881...

thank you for this.

Funny thing is that most of the economic folks in this administration have ties to goldman and sachs.

Yes, and Taibbi says they are everywhere.

Great article: very funny, and very scary.

http://www.americablog.com/2009/07/white-suprem...

"White Supremacists see conservative Teabagging parties as recruitment opportunity

by John Aravosis (DC) on 7/02/2009 07:04:00 PM

It ought to give conservatives pause when their only usefulness in politics is serving as a recruiting opportunity for white supremciasts. From the Anti-Defamation League.
White supremacists and neo-Nazi hate groups plan to take advantage of the anti-tax “Tea Parties” set to occur in more than 1,000 cities and localities over the July 4 holiday weekend to disseminate racist fliers and other materials and attempt to recruit others to their cause, according to the Anti-Defamation League (ADL).

ADL’s Center on Extremism, which monitors extremist groups and provides information to law enforcement and the public, has released information on its Web site describing the attempt by white supremacists to co-opt the anti-tax message of the events as a means to spread racism and anti-Semitism.

On Stormfront, the most popular white supremacist Internet forum, members have discussed becoming local organizers of the “Tea Parties” and finding ways to involve themselves in the events. Many racists have voiced their intent to attend these rallies for the purpose of cultivating an “organized grassroots White mass movement,” with some suggesting that they would do so without openly identifying themselves as racists."

HA! Figures that crap came from Politico. We DO see Obama and Michelle as "human" that's why they are so damn popular, he doesn't need to have a big FLAW the media can exploit.

Anywhoo, I watched Unsung: The Story of Florence Ballard last night, and it was really good. I didn't really know anything about her, so it was nice to see that bit of history. TVOne is soooooo leaps and bounds ahead of "BET"

I really like the Unsung series.

This article is about Mr Pasciucco whom is unwinding AIG's CDS and other deriative portfolio. It contains a decent brief history of AIG's venture in CDS.
The significance is that it point out to this day there is not a regulatory framework for them nor in proposing one is there limits on what they can be used for.
I am unwavering in the idea they should be totally banned. They should be banned not because of the risk they assume but the fact they act as a method of reducing interest rates for the issuer of the underlying bond/loan portfolio. There are reasons people are forced to buy higher interest rates to mitigate risk to the lender. By removing the risk for the lender the lender is going to revert to the behavior of the last 5 years; i.e. lend because they do not hold the loan. When that happens we the taxpayer hold the bag.
It is clear I am swimming upstream on this issue of non issuance but there is a case to be made that sovereign debt, the debt of a country, should not be covered. A sovereign government can simply print money. so why should speculators be allowed to start a run a on a countries currency and buy as many CDS against that countries debt as possible to help in their speculation. You might scoff but in the 1990's George Soros forced the Bank of England to revalue the pound shortly after the introduction of the EURO.
http://www.bloomberg.com/apps/news?pid=20601109...

Good article.

UGGGGGGGGGGGGGGGGGH!!!


This is riDICulous!!!!

OK, so now he needs flaws to be likable?

GMAB!!

Never, never, never, EVER EVER expose any flaw...they will take you down.

These folks are just angry because they CAN't find anything to complain about or to put him down with.

Good work Barack...keep putting your BEST foot forward in all the myriad ways that you do!!

You are right. Remember when the press was all over him for smoking? Obama shouldn't listen to them.

President Obama has paralyzed these nuts with their own insecurities.

Cracking me up!!

PBO's got these MOFO's heads spinning like a Deluxe Matag Washer.

What.
The.
Fuck.

I haven't heard the "you're OVER-qualified" argument in a while. That was pretty bizarre.

LMAO....I rolled my eyes at this piece...and thought JJP readers would do the same.