One of the common complaints from banks that the concerns raised by borrowers over robosigning are mere "paperwork" problems, that everyone who is foreclosed on deserved it, and no one was really hurt. That is patently false, as there have been an embarrassing number of instances where someone with no mortgage was foreclosed on, as well all too many cases of servicer-driven foreclosures. And that's before we get to damage to property records.
Attorney Timothy Fong called our attention to a below the radar form of chicanery that is predictable when you have nonjudicial foreclosure with no significant oversight and agents who lack incentives to do a good job.
...
So get this: the procedures are so bad that totally bogus documents can be created and slipped into the bankruptcy of an innocent victim to stop foreclosure sales. Even worse, the servicer, who OUGHT to know better, treats this person in BK who suddenly materialized out of nowhere from his perspective as a real owner and hits him with a motion for relief of stay so they can take a house from him that he never owned. And the foreclosure mill lawyers don't question this because more motions of relief of stay means more fees.
If this example wasn't such a serious indictment of our system, it would serve as a black comedy in bureaucratic incompetence.
We've been giving examples off and on about how servicers scam borrowers. Examples include impermissibly deducting fees before applying payments to interest and principal; force placed insurance, inflated prices on and excessive frequency of broker price opinions, and in altogether too many cases, treating payments that are on time as late. What many observers fail to appreciate is that these are tantamount to scamming investors. If a borrower goes into default, any bogus charges will be deducted from the sale of the house, and hence come out of investors' hides.
Lisa Epstein of Foreclosure Hamlet is a mortgage document maven and has been looking extensively at investor reports and compared them to court documents and has found serious discrepancies. Her research shows that servicers are not only taking advantage of borrowers but are also scamming investors.
...
Investors have told me they've seen signs of even more gross abuses, such as servicers treating fees as credit losses. But this sort of remark in a way shows investors suffer from the same agency problems as servicers, who have no reason to do a good job but instead are motivated to game a complex system of fees. Institutional investors are running other people's money and therefore have no incentive to crack down on miscreant servicers (they feel it is not their job, plus if any one investor were to take this issue on, the rest of the industry would free ride on his work).
So no wonder we only have isolated and very dedicated individuals chipping away at this looting. Everyone else appears to be part of the problem.
When you enter my registry you see a sign that reads "The deeds tell the story." Before the big banks took it upon themselves to corrupt the land recordation system, the deeds used to tell a happy story, one in which people purchased a home and lived "the American Dream." Today, however they tell a different story one of greed, fraud, and forgery. By now everyone in Massachusetts knows what I have been doing over the past two years to expose and stop the schemes by the Mortgage Electronic Recording Systems, Inc. and their shareholder banks. The accuracy and integrity of the land records in my registry are of the upmost importance to me.
Just this past week the Attorney Generals of this country said they will enter into a deal with the 5 largest banks who have agreed to stop robo-signing, provide principal reductions of between 20 to 25 thousand dollars to a million underwater homeowners. This amount will in no way solve the housing crisis that we are faced with nor even begin to turn our economy around. In addition, the settlement suggests that approximately 750,000 people who have had their homes taken by foreclosure using fraudulent documents will receive a check for $2,000. As Yves Smith has said, "that amount is the new penalty for forgery." This is merely a slap on the wrists to these lenders. It is my opinion that this deal has been crafted for the banks and by the banks. It is not in the best interest of the consumer, the homeowner, or the taxpayer. Simply put, I do not trust these lenders who have flooded my registry with over 32,000 fraudulent documents to do the right thing. Those homeowners who now have a corrupted title are looking for answers. This deal gives them none. The illegal activity by the banks is nothing shy of a criminal enterprise, where they crossed state lines using the United States Postal Service to deliver the instruments that were fraudulent and contained forgeries.
I will continue to pursue my request for Federal and State grand juries to be impaneled to hold the CEO's of these banks liable for the crimes that have been committed under their watch. The only thing missing in this illegal scheme that MERS and the big banks came up with was a gun and a mask. I will continue to expose this fraud and work everyday to make sure that the taxpayers are fully reimbursed for the over $44 million dollars in lost recording fees in my district alone by institutions who still believe fees are "for thee but not for me." A message needs to be sent to these banks that they may think that you are too big to fail but they are not too big to go to jail.
There's a lot of pushback anytime someone points the finger at banks. As I've argued for a couple of years now, virtually all recent foreclosures really amount to theft. The banks have no legal standing to take homes. They created the MERS monster, which destroyed the chain of title and "lost" all the documents. That is why the mortgage servicers hire robo-signers to forge new ones. Yet, 4 years into the crisis, almost no one wants to admit the truth. Foreclosure in the US is theft-as practiced it is almost always illegal. Yet, the servicers are now ramping up foreclosures after they bought out the state attorneys general under pressure from the Eric Holder at the White House.
City officials requested the audit that examined 382 randomly chosen foreclosures that occurred from January 2009 through October 2011. The findings revealed that 84% of the files involved "what appear to be one or more clear violations of law." The violations included not giving homeowners warning that they were in default on their loans (6%), not giving homeowners adequate legal warning their property was being sold (10%), backdating of documents (59%) and transfers of loans by entities that had no business doing so (45%).
Another disturbing discovery related to the Mortgage Electronic Registry System (MERS). In 1995 the bigger banks created MERS as a privately owned electronic system for registering mortgage sales that was supposed to replace local county recording. In the words of the New York Attorney General's Office, they did so "to allow financial institutions to evade local county recording fees, avoid the hassle and paperwork of publicly recording mortgage transfers, and facilitate the rapid sale and securitization of mortgages." The San Francisco audit found that in 58% of cases, the loan beneficiary listed on the deed of sale was different from the one listed in the MERS database.
(T)he detailed and comprehensive nature of the San Francisco findings suggest how pervasive foreclosure irregularities may be across the nation.
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The depth of the problem raises questions about whether at least some foreclosures should be considered void, Mr. Ting said. "We're not saying that every consumer should not have been foreclosed on or every lender is a bad actor, but there are significant and troubling issues," he said.
California has been among the states hurt the most by the mortgage crisis. Because its laws, like those of 29 other states, do not require a judge to oversee foreclosures, the conduct of banks in the process is rarely scrutinized. Mr. Ting said his report was the first rigorous analysis of foreclosure improprieties in California and that it cast doubt on the validity of almost every foreclosure it examined.
"Clearly, we need to set up a process where lenders are following every part of the law," Mr. Ting said in the interview. "It is very apparent that the system is broken from many different vantage points."
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The report contradicted the contentions of many banks that foreclosure improprieties did little harm because the borrowers were behind on their mortgages and should have been evicted anyway. "We can deduce from the public evidence," the report noted, "that there are indeed legitimate victims in the mortgage crisis. Whether these homeowners are systematically being deprived of legal safeguards and due process rights is an important question."
Schneiderman, whose Lower Manhattan office overlooks Zuccotti Park where the Occupy movement began, felt like he was being strong-armed by Donovan and wasn't shy about sharing his dissatisfaction. In late August, The New York Times reported that Schneiderman had come "under increasing pressure from the Obama administration to drop his opposition to a wide-ranging state settlement with banks over dubious foreclosure practices."
That did it for [HUD Secretary Shuan] Donovan, according to people close to him. Worried that the settlement was in danger of falling apart, he woke up at 5 a.m. the next morning and sketched the outline of what would emerge as the final compromise plan.
A bit later he called Schneiderman, who immediately began re-arguing his case for holding banks accountable.
Donovan stopped him: "Look, hear me out, I want to get past this," he said, and proposed creating a special panel to probe wrongdoing by banks, to be co-chaired by Schneiderman. He also promised to limit the scope of any releases granted to the banks and rewrote his draft.
Miller, who clashed with Schneiderman over the releases, said Donovan didn't make many changes but was artful enough to sell it as a compromise to the New York attorney general, who wanted to seal the deal.
"Essentially what Shaun did was let Eric take credit for shaping the release," Miller said, "credit that wasn't factually correct."
Dayen points out, quite accurately, that with Schneiderman on board with the settlement deal the opposition to it fell apart:
Whether you believe in Eric Schneiderman's ability to deliver a legitimate investigation on mortgage securitization fraud or not, you have to admit that the united front on opposition to a settlement on foreclosure fraud collapsed the moment that he agreed to helm that federal investigatory task force. He immediately separated "pre-bubble" and "post-bubble" conduct, allowing for a settlement on the latter while he joined the investigation on the former. And eventually, every other AG on the Democratic side fell in line, as they didn't have New York as an anchor to stay out of a settlement.
That's just what happened. And now we have HUD Secretary Shaun Donovan and Iowa AG Tom Miller, head of the executive committee that settled on foreclosure fraud, clowning Schneiderman on the record, saying that he got next to nothing in exchange for his holdout.
As Yves Smith notes "you can draw some damning conclusions conclusions about New York attorney general Eric Schneiderman's role."
Unless Schneiderman has been promised something bigger by Obama, US AG, he should walk away from this farce and, if he still can, withdraw his support of this "bait and switch" settlement that hasn't been settled.
But I have a feeling, he's accepted a bigger bribe and signing onto this bank bailout will assure his easy confirmation. (Just speculating that Obama will get a 2nd term.)
"Punting the Pundits" is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past "Punting the Pundits".
"We are headed to a Greece-type collapse," GOP presidential candidate Mitt Romney has warned repeatedly, while indicting President Obama's stimulus plan. Romney promises to slash spending and balance the budget to unleash growth.
Only now his warning provides a starkly different caution. Portugal, Ireland, Spain, Italy, Britain - the countries that have responded to the economic crisis by focusing on slashing their deficits - are sinking. And the ruin inflicted on Greece threatens its democracy, as riots and resistance spread.
The advocates of austerity - here and in Europe - have argued that cutting spending and reducing deficits, even with interest rates already near zero, would revive the economy. The irresponsible - other than the banks - would be disciplined. This would reassure investors and "job creators," and they would invest and start to hire again. With an added refrain about deregulation, this remains the mantra chanted ceaselessly by Republicans.
When you fall in love, it's all about what you have in common, and you can hardly imagine that there are differences, let alone that you will quarrel over them, or weep about them, or be torn apart by them -- or if all goes well, struggle, learn, and bond more strongly because of, rather than despite, them. The Occupy movement had its glorious honeymoon when old and young, liberal and radical, comfortable and desperate, homeless and tenured all found that what they had in common was so compelling the differences hardly seemed to matter.
Until they did.
Revolutions are always like this: at first all men are brothers and anything is possible, and then, if you're lucky, the romance of that heady moment ripens into a relationship, instead of a breakup, an abusive marriage, or a murder-suicide. Occupy had its golden age, when those who never before imagined living side-by-side with homeless people found themselves in adjoining tents in public squares.
All sorts of other equalizing forces were present, not least the police brutality that battered the privileged the way that inner-city kids are used to being battered all the time. Part of what we had in common was what we were against: the current economy and the principle of insatiable greed that made it run, as well as the emotional and economic privatization that accompanied it.
The last ten days or so we have seen Republicans, and their religious allies, wage a war against contraception-and bungle it badly. With poll after poll showing that a majority of Americans support contraceptive coverage in health reform, and with the 98 percent figure (of American women who have ever used contraception in the context of heterosexual sex) endlessly repeated in the media, the Republicans nonetheless push ahead with this attack, providing a welcome gift to the Obama reelection campaign and much material to political artists and comics. I have lost count of the number of parodies that have been inspired by that now gone viral picture of five male clerics testifying at the Congressional hearing called by Rep. Darrell Issa (R-CA). A picture that of course immediately brings to mind another image of a similar tone deaf moment on the part of social conservatives, the nine men surrounding President George W. Bush as he became the first president to sign a ban on a particular technique of performing abortion, in the case of so-called "partial birth abortion." It's no wonder that the term "patriarchy" has made a comeback in the blogs! [..]
But while the media is momentarily fixated on the second big story this month of a losing fight against family planning (remember the Susan G. Komen Fund fiasco?), less attention has been paid to a related war that is not going well at all. The assault on abortion that has resulted from the 2010 elections--the Republican takeover of Congress and many statehouses and governorships--has arguably produced the most serious threat to abortion access since the Roe decision in 1973. What we mainly have heard about this situation are the statistics, the unprecedented number of abortion restrictions introduced and eventually passed in state legislatures at a time when one might assume politicians' focus would be on the economy.
John Timoney is the controversial former Miami police chief well known for orchestrating brutal crackdowns on protests in Miami and Philadelphia- instances with rampant police abuse, violence, and blatant disregard for freedom of expression. It should be of great concern that the Kingdom of Bahrain has brought Timoney and John Yates, former assistant commissioner of Britain's Metropolitan Police, to "reform" Bahrain's security forces.
Since assuming his new position, Timoney has claimed that Bahrain has been reforming it brutal police tactics in response to recommendations issued by the Bahrain Independent Commission of Inquiry. He says that there is less tear gas being used and that while tear gas might be "distasteful," it's not really harmful.
I have no idea what country Chief Timoney is talking about, because it's certainly not the Bahrain I saw this past week, a week that marked the one-year anniversary since the February 14, 2011 uprising.
Rick Santorum has been called a latter-day Savonarola.
That's far too grand. He's more like a small-town mullah.
"Satan has his sights on the United States of America," the conservative presidential candidate warned in 2008. "Satan is attacking the great institutions of America, using those great vices of pride, vanity and sensuality as the root to attack all of the strong plants that has so deeply rooted in the American tradition."
When, in heaven's name, did sensuality become a vice? Next he'll be banning Barry White. [..]
He told The Washington Post on Friday that, while he doesn't want to fund contraception through Planned Parenthood, he wouldn't ban it: "The idea that I'm coming after your birth control is absurd. I was making a statement about my moral beliefs, but I won't impose them on anyone else in this case."
That doesn't comfort me much. I've spent a career watching candidates deny they would do things that they went on to do as president, and watching presidents let their personal beliefs, desires and insecurities shape policy decisions.
Mullah Rick is casting doubt on issues of women's health and safety that were settled a long time ago. We're supposed to believe that if he got more power he'd drop his crusade?
In an article titled "Still No End to 'Too Big to Fail,'" William Greider wrote in The Nation on February 15th:
Financial market cynics have assumed all along that Dodd-Frank did not end "too big to fail" but instead created a charmed circle of protected banks labeled "systemically important" that will not be allowed to fail, no matter how badly they behave.
That may be, but there is one bit of bad behavior that Uncle Sam himself does not have the funds to underwrite: the $32 trillion market in credit default swaps (CDS). Thirty-two trillion dollars is more than twice the U.S. GDP and more than twice the national debt. [..]
The Houses of Morgan, Goldman and the other Big Five are justifiably worried right now, because an "event of default" declared on European sovereign debt could jeopardize their $32 trillion derivatives scheme. According to Rudy Avizius in an article on The Market Oracle (UK) on February 15th, that explains what happened at MF Global, and why the 50% Greek bond write-down was not declared an event of default.
If you paid only 50% of your mortgage every month, these same banks would quickly declare you in default. But the rules are quite different when the banks are the insurers underwriting the deal.
On Monday evening, around one hundred people gathered in Liberty Square in downtown Manhattan, preparing to march to the Federal Reserve and Securities and Exchange Commission buildings nearby. Protesters carried signs reading, "We don't make demands so this is a suggestion: Enforce the Volcker Rule."
Occupy the SEC, a working group of Occupy Wall Street that includes former financial industry professionals, lawyers and concerned citizens, had been up until 5am the night before, editing and formatting a letter they had prepared as a public comment to the SEC. For months, OSEC met twice weekly to review the 298-page proposed Volcker Rule, conducting a diligent, line-by-line analysis of the document. Proposed as part of the Dodd-Frank Act, the Volcker Rule essentially aims to ban proprietary trading and ownership of hedge funds by banks. Between now and July, the regulating bodies involved-the SEC, the FDIC, the OCC, the CFTC and the Fed-are required to read public comment letters and issue final details on the Volcker Rule.
When members of OSEC viewed their letter on Monday on the SEC's website, they were elated to see that at 325 pages, it was the longest letter by far. In comparison, the longest letter by the Securities Industry and Financial Markets Association (SIFMA), a group that represents the interests of securities groups, banks and asset managers, was 173 pages-although SIFMA submitted five letters in total.
When the not-guilty verdict came down in the Casey Anthony trial last summer, TV personality Nancy Grace exploded in a cable news paroxysm for the ages: "Somewhere out there, the devil is dancing tonight." The polarizing former prosecutor had massively expanded her national following with her nightly crusades against the 25-year-old Anthony, an unemployed single mom charged with killing her 2-year-old daughter, Caylee. When, soon thereafter, Grace announced she would be joining the cast of Dancing With the Stars, critics had a field day. But her leap into the world of bedazzled spandex was not half as alarming as a less widely discussed foray, into the arena of panic-driven policymaking. [..]
On its face, the law sounds well-reasoned. Don't all parents have certain de facto obligations vis-à-vis their kids-particularly alerting authorities when young lives may be on the line? Michelle Crowder, the 30-year-old Oklahoma mother who authored the Change.org petition, certainly thinks so. "I just decided to jump on there and do it," she told Grace in an interview tag-lined "Breaking News: Outrage." But others are not convinced. There is a long history of passing tough-on-crime legislation in the wake of a brutal crime and the results have been mixed, at best. Caylee's Law is far from unique in transforming the name of an innocent young female victim into a rallying cry for crime-fighting reforms with dubious results. And Grace is only the latest pundit to spin her entertainment empire into a legislative one.
Affirmative Action has been around since 1961 when President John F. Kennedy issued his executive order which created the Committee on Equal Employment Opportunity and mandates that projects financed with federal funds take affirmative action" to ensure that hiring and employment practices are free of racial bias. In 1964, President Lyndon B. Johnson signed the Civil Rights Act which prohibits discrimination of all kinds based on race, color, religion, or national origin. Since then Affirmative Action has gone through the courts where it has been narrowed but essentially left intact. The last major challenge to the University of Michigan's Affirmative Action admissions policy (Grutter v. Bollinger) resulted in the Supreme Court in a narrow 5 - 4 ruling up held the University's policy.
Challenges didn't end there. In January of 2011, the 5th Circuit Court of Appeals, ruled against a student who challenged the University of Texas' policy in Fisher v. University of Texas (pdf). The plaintiffs appealed and the Supreme Court has decided to reconsider what has been considered decided law (stare decisis). In Grutter v. Bollinger the deciding vote was cast by Justice Sandra Day O'Connor who has since retired and was replaced by the very conservative Samuel Alito. Justice Elena Kagan, who was solicitor general when the Obama administration filed the Fifth Circuit brief, recused herself from the case. So the case will be considered by only 8 Justices, 4 of whom are very conservative. The deciding vote may fall to Justice Anthony Kennedy who has sided with the more conservative justices in recent rulings.
In one of the most dramatic upsets in Olympic history, the underdog U.S. hockey team, made up of college players, defeats the four-time defending gold-medal winning Soviet team at the XIII Olympic Winter Games in Lake Placid, New York. The Soviet squad, previously regarded as the finest in the world, fell to the youthful American team 4-3 before a frenzied crowd of 10,000 spectators.
The United States did not win the gold medal upon defeating the USSR. In 1980 the medal round was a round-robin, not a single elimination format as it is today. Under Olympic rules at the time, the group game with Sweden was counted along with the medal round games versus the Soviet Union and Finland so it was mathematically possible for the United States to finish anywhere from first to fourth.
Needing to win to secure the gold medal, Team USA came back from a 2-1 third period deficit to defeat Finland 4-2. According to Mike Eruzione, coming into the dressing room in the second intermission, Brooks turned to his players, looked at them and said, "If you lose this game, you'll take it to your graves." He then paused, took a few steps, turned again, said, "Your fucking graves," and walked out.
At the time, the players ascended a podium to receive their medals and then lined up on the ice for the playing of the national anthem, as the podium was only meant to accommodate one person. Only the team captains remained on the podium for the duration. After the completion of the anthem, Eruzione motioned for his teammates to join him on the podium. Today, the podiums are large enough to accommodate all of the players.
The victory bolstered many American citizens' feelings of national pride, which had been severely strained during the turbulent 1970s. The match against the Soviets popularized the "U-S-A! U-S-A!" chant, which has been used by American supporters at many international sports competitions since 1980.
You've got to be taught
To hate and fear,
You've got to be taught
From year to year,
It's got to be drummed
In your dear little ear
You've got to be carefully taught.
You've got to be taught to be afraid
Of people whose eyes are oddly made,
And people whose skin is a diff'rent shade,
You've got to be carefully taught.
You've got to be taught before it's too late,
Before you are six or seven or eight,
To hate all the people your relatives hate,
You've got to be carefully taught!
Pain Without Gain By PAUL KRUGMAN, The New York Times
Published: February 19, 2012
(I)n early 2010 austerity economics - the insistence that governments should slash spending even in the face of high unemployment - became all the rage in European capitals. The doctrine asserted that the direct negative effects of spending cuts on employment would be offset by changes in "confidence," that savage spending cuts would lead to a surge in consumer and business spending, while nations failing to make such cuts would see capital flight and soaring interest rates. If this sounds to you like something Herbert Hoover might have said, you're right: It does and he did.
Now the results are in - and they're exactly what three generations' worth of economic analysis and all the lessons of history should have told you would happen. The confidence fairy has failed to show up: none of the countries slashing spending have seen the predicted private-sector surge. Instead, the depressing effects of fiscal austerity have been reinforced by falling private spending.
Furthermore, bond markets keep refusing to cooperate. Even austerity's star pupils, countries that, like Portugal and Ireland, have done everything that was demanded of them, still face sky-high borrowing costs. Why? Because spending cuts have deeply depressed their economies, undermining their tax bases to such an extent that the ratio of debt to G.D.P., the standard indicator of fiscal progress, is getting worse rather than better.
Meanwhile, countries that didn't jump on the austerity train - most notably, Japan and the United States - continue to have very low borrowing costs, defying the dire predictions of fiscal hawks.
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(A)s far as I can tell, austerity is still considered responsible and necessary despite its catastrophic failure in practice.
The point is that we could actually do a lot to help our economies simply by reversing the destructive austerity of the last two years. That's true even in America, which has avoided full-fledged austerity at the federal level but has seen big spending and employment cuts at the state and local level. Remember all the fuss about whether there were enough "shovel ready" projects to make large-scale stimulus feasible? Well, never mind: all the federal government needs to do to give the economy a big boost is provide aid to lower-level governments, allowing these governments to rehire the hundreds of thousands of schoolteachers they have laid off and restart the building and maintenance projects they have canceled.
Look, I understand why influential people are reluctant to admit that policy ideas they thought reflected deep wisdom actually amounted to utter, destructive folly. But it's time to put delusional beliefs about the virtues of austerity in a depressed economy behind us.
Hoover/Brüning 2012 Paul Krugman, The New York Times
February 20, 2012, 8:12 pm
(T)hinking about today's column, I realized that it's even worse than that. What defines centrist heroes, as far as I can tell, is that they are people who, faced with a catastrophic slump driven by private-sector abuses, and a severe shortfall of spending, declared that our most urgent priority is ... to reduce budget deficits.
That's often described as a courageous position, but it's actually anything but: nobody in the Beltway dinner-party circuit has ever been ostracized for demanding entitlement cuts. And aside from being totally conventional, it's also deeply wrong-headed - and if you ask me somewhat unethical, too, because it involves exploiting a crisis to push an agenda totally unrelated to that crisis.
(T)here will be recessions and non-recessions (amidst what is an ongoing long Depression). And in each recession those who fail to grab a chair will be cast out into the dispossessed. Those who keep their chairs will be allowed to keep some facsimile of the "American lifestyle".
The people who run the American economy and political system will continue along these lines so long as it continues to bring them money or power. As noted, they do not have fellow feeling for other Americans, they believe they earned everything they have, and that if someone else isn't prosperous, it's because they didn't earn it. Such useless eaters are a drag on society.
I emphasize the thought process, which some will find polemical, because it is at the heart of the problem. It is the most important part of the post. There are other options, from the managed decline favored by environmental purists through to various types of smart growth. They are not being pursued and will not be pursued because they are more work with less certainty of who will reap the profits and power than simply managing the current decline, and culling the herd from time to time, as necessary.
"The powerful do as they will, the weak suffer what they must."
As long as you, the people, believe you are weak, you will suffer what you must.
The plan assumes that 95% of bondholders will accept this deal, which seems optimistic to me. Bondholders are by their nature a fractious and contrarian bunch, and Greece is not saying that it's going to default on holdouts. As a result, bondholders have to guess what might happen if they fail to tender into the exchange: they might get defaulted on and receive nothing; they might get paid out in full; or they might get defaulted on while being offered, for the second time, the same exchange they're being offered right now. Some of them, especially the ones holding English-law bonds, might well be tempted to hold on to at least some of their bonds, just to see what happens.
More to the point, the plan assumes that Greece's politicians will stick to what they've agreed, and start selling off huge chunks of their country's patrimony while at the same time imposing enormous budget cuts. Needless to say, there is no indication that Greece's politicians are willing or able to do this, nor that Greece's population will put up with such a thing. It could easily all fall apart within months; the chances of it gliding to success and a 120% debt-to-GDP ratio in 2020 have got to be de minimis.
Europe's politicians know this, of course. But at the very least they're buying time: this deal might well delay catastrophic capital flight from Greece, and give the Europeans more time to work out how to shore up Portugal if and when that happens. Will they make good use of the time that they're buying? I hope so. Because once the Greek domino falls, it's going to take a huge amount of money, statesmanship, and luck to prevent further dominoes from toppling.
This is a recipe for endless bailouts, for more money, from the Eurozone. Greece will not have the ability to pay its debts and no other means of borrowing money. And that assumes that this deal WORKS, meaning that there's no overthrow of the government, that a new leadership after elections in April doesn't object to the plan, that creditors don't revolt from the harsh terms of the haircut, etc. And this program only gets more expensive for the Eurozone over time. Even the fairly optimistic "downside scenario" from the confidential report shows that, saying that Greece will need €245 billion in aid.
...
But the Germans were reluctant to agree to even this bailout, and will be more reluctant when it doesn't work and Greece comes a-begging. This problem either gets bigger or is no longer seen as a problem. And somehow, I don't think the richer countries in Europe will continue to accept these transfers. This buys nothing but time, and in the long run it's fiscally stupid, if Greece will eventually leave the euro.
Everyone knows the amount of money available is insufficient to deal with the problems.
History suggests that a write-down of debt for distressed borrowers is frequently followed by others.
The entire trajectory of discussions, plans and negotiations largely ignores Greece. There is no longer any pretence of "assisting" Greece. It is about ensuring that German and French banks minimise their losses. It is probable that no funds will be released to Greece but rather placed in a special account from where it will be used to meet the country's debt obligations.
...
Subplots connect main plots in thematic terms or provide minor diversions or comic relief. The light relief in this instance come from a group of hedge funds who have threatened to take action in the European Court of Human Rights alleging that Greece has violated bondholders "rights".
In the end, Greece may live to default another day. Other embattled European nations will be scrutinising the Athenian sub-plot extremely closely as to clues as to their future as they await the battles that lie ahead.
"Punting the Pundits" is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past "Punting the Pundits".
Nothing drives voter sentiment like the price of gas - now averaging $3.56 a gallon, up 30 cents from the start of the year. It's already hit $4 in some places. The last time gas topped $4 was 2008.
And nothing energizes Republicans like rising energy prices. Last week House Speaker John Boehner told Republicans to take advantage of voters' looming anger over prices at the pump. On Thursday House Republicans passed a bill to expand offshore drilling and force the White House to issue a permit for the Keystone XL pipeline. The tumult prompted the Interior Department to announce on Friday expanded oil exploration in the Arctic.
If prices at the pump continue to rise, expect more gas wars.
In fact, oil prices are rising for three reasons - none of which has to do with offshore drilling or the XL pipeline.
The Republican presidential candidates have not made immigration a focus of their campaigns. But, as they head toward a debate on Wednesday in Arizona, ground zero for anti-immigrant hostility, it is a good time to ask them hard questions about immigration. The odds are bad that they will have sensible answers.
These candidates have abandoned decades of Republican moderation on immigration, disowning views once held by Ronald Reagan, both Presidents Bush and Congressional Republicans - like Mel Martinez, Sam Brownback, Lindsey Graham and John McCain - who once led a sizable coalition for bipartisan reform but have since either left the Senate or their principles behind.
Tom Friedman of the New York Times is at it again, claiming that what America needs to fix our economic and political mess is a radically centrist third party. Radical in this case means conservative when it comes to belt-tightening. Friedman in Sunday's Times urges a third party "to fill the space between the conservative Santorum (or even Mitt Romney) and the left-of-center Barack Obama."
This time, he has a coyly undeclared candidate, David Walker, formerly president of the austerity-mongering Peter G. Peterson Foundation. Walker, who served in a previous life as head of the Government Accountability Office, has been barnstorming around the country, denying that he is running for anything, blaming America's woes on Social Security, Medicare, and Federal deficits. [..]
Austerity, as we see in Europe, is absolutely the wrong economic policy. It feeds on itself, driving the economy deeper into a hole. As GDP sags, wages and tax receipts sag with it, making budget balance a vanishing mirage. The more you cut the deficit, the more the economy falters, and the cycle repeats.
The combination of bad economic advice, a ballot slot bought and paid for by secretive private equity and hedge fund players, and a candidate who became a media figure courtesy of Peter G. Peterson, epitomizes everything messed up about our politics. How fitting that Tom Friedman should be its tribune.
The battle for democracy is becoming a fight against backroom billionaires seeking to shape politics to suit their own interests
Shocking, fascinating, entirely unsurprising: the leaked documents, if authentic, confirm what we suspected but could not prove. The Heartland Institute, which has helped lead the war against climate science in the United States, is funded among others by tobacco firms, fossil fuel companies and one of the billionaire Koch brothers. [..]
The leading Republican candidates have all but abandoned the idea of mobilising popular support. Instead they use the huge funds they raise from billionaires to attack the credibility of their opponents through television ads. Yet more money is channelled through 501c4 groups - tax-exempt bodies supposedly promoting social welfare - which (unlike the superPACs) don't have to reveal the identity of their donors. TomDispatch notes that "serving as a secret slush fund for billionaires evidently now qualifies as social welfare." [..]
This is plutocracy, pure and simple. The battle for democracy is now a straight fight against the billionaires and corporations reshaping politics to suit their interests. The first task of all democrats must be to demand that any group, of any complexion, seeking to effect political change should reveal its funders.
Billionaire campaign donor David Koch, heir to a fortune and a political legacy created by one of the driving forces behind the John Birch Society, makes no secret of his enthusiasm for Wisconsin Gov. Scott Walker.
"What Scott Walker is doing with the public unions in Wisconsin is critically important. He's an impressive guy and he's very courageous," Koch explained in a recent conversation reported by the Palm Beach Post. "If the unions win the recall, there will be no stopping union power."
That's no surprise. What is surprising is that Koch now appears to be bragging about how he and his brother Charles are using their vast fortune to fund an independent campaign aimed at "helping" Walker. Even in an era when billionaires such as the Kochs are emerging as key financiers of super PACs and other campaign vehicles, Koch's admission will raise eyebrows - and questions about whether inappropriate coordination by a candidate, his campaign and a supposedly independent group might be the stuff of "scandal."
Republicans haven't quite thrown away what they see as a winnable presidential election, at least not yet. But they're trying their best.
In GOP circles, there is more than a whiff of panic in the air. Unemployment is still painfully high, Americans remain dissatisfied with the country's direction, even the most favorable polls show President Obama's approval at barely 50 percent - and yet there is a sense that the Republicans' odds of winning back the White House grow longer day by day. [..]
The issue, for Republicans, is not just that Santorum would lose in November. It's that he could be a drag on House and Senate candidates as well. Imagine, say, Sen. Scott Brown (R-Mass.) trying to explain to his constituents why someone who doesn't fully understand women's participation in the workforce should be president.
Listen closely and you can hear the anguished cries: "Mitch! Chris! Jeb! Help!"
If you have been surprised to see an uptight prig such as Rick Santorum leading the Republican primary field in national polls, you shouldn't be. Recent events have demonstrated that conservative positions on social issues are as much about repressing women and reversing the gains of the women's movement as they are about saving the lives of the unborn.
The young people I saw at the Conservative Political Action Conference (CPAC) in Washington the week before last looked to me exactly like what you would expect from a bunch of college Republicans. They were dorks. They wore suits. Maybe some of the women's suit skirts were short, but I was hardly scandalized.
But we learned last week that much of the conservative movement is still living in a different century-and I don't mean the twentieth-with regard to women's sexuality. Conservative bloggers were horrified that some young women at CPAC were dressed provocatively and engaged in loose sexual behavior with the young men in attendance.
Mardi Gras en français or Fat Tuesday in English, it is time to party. It's the last day for some Christians to eat all the food they like and party before the season of fasting before Lent. In many traditions it isn't just one day. Mardi Gras, or Carnival season, starts in January after 12th Night or the Epiphany, culminating at midnight on the day before Ash Wednesday. English traditions call the day Shrove Tuesday and for many religious Christians a time for confession. Celebrations vary from city to city and by country but many of the traditions are the same masks, beads, parades and parties. In Mobile, Alabama,the former capital of New France, the Mardi Gras social events start in November with "mystic society" balls on Thanksgiving and New Year's Eve with more parades and balls in January and February ending on the traditional Tuesday before Lent. And you thought New Orleans and Rio de Janeiro were the party cities, heh. Many if these balls raise large amounts of money for charity, justifying in a way the "decadence". In other places with a French heritage, like Louisiana, where the revelry also starts weeks before with parades and parties celebrating the arrival of the "Krewes" or organizations that sponsor various parades, the day is an official holiday. Like anyone in New Orleans is going to the office that day. There's many traditional foods, too, like pancakes, fruit laden sweet breads and sugary pastries. Any food with lots of fat and eggs. Look out arteries here it comes.
The expedition, led by Iberville, entered the mouth of the Mississippi River on the evening of March 2, 1699, Lundi Gras, not yet knowing it was the river explored and claimed for France by René-Robert Cavelier, Sieur de La Salle in 1683. The party proceeded upstream to a place on the west bank about 60 miles downriver from where New Orleans is today, where a small tributary emptied into the great river, and made camp. This was on March 3, 1699, Mardi Gras day, so in honor of this holiday, Iberville named the spot Point du Mardi Gras (French: "Mardi Gras Point") and called the small tributary Bayou Mardi Gras. Bienville went on to found Mobile, Alabama in 1702 as the first capital of French Louisiana. In 1703 French settlers in that city began to celebrate the Mardi Gras tradition. By 1720, Biloxi was made capital of Louisiana. While it had French settlers, Mardi Gras and other customs were celebrated with more fanfare given its new status. In 1723, the capital of French Louisiana was moved to New Orleans, founded in 1718. With the growth of New Orleans as a city and the creolization of different cultures, the varied celebration of Mardi Gras became the event most strongly associated with the city. In more recent times, several U.S. cities without a French Catholic heritage have instituted the celebration of Mardi Gras, which sometimes emerged as grassroots movements.
The carnival is the most known of several others that take place in Belgium at the same time and has been proclaimed as a Masterpiece of the Oral and Intangible Heritage of Humanity listed by UNESCO. Its history dates back to approximately the 14th century.
Events related to the carnival begin up to seven weeks prior to the primary celebrations. Street performances and public displays traditionally occur on the Sundays approaching Ash Wednesday, consisting of prescribed musical acts, dancing, and marching. Large numbers of Binche's inhabitants spend the Sunday directly prior to Ash Wednesday in costume.
The centrepiece of the carnival's proceedings are clown-like performers known as Gilles. Appearing, for the most part, on "Shrove" Tuesday, the Gilles are characterised by their vibrant dress, wax masks and wooden footwear. They number up to 1,000 at any given time, range in age from 3 to 60, and are customarily male. The honour of being a Gille at the carnival is something that is to be aspired to by local men. From dawn on the morning of the carnival's final day, Gilles appear in the centre of Binche, to dance to the sound of drums and ward evil spirits away with sticks. Later, during the day, they don large hats adorned with ostrich plumes, which can cost upwards of $300 US dollars to rent, and march through the town with baskets of oranges. These oranges are thrown to, and sometimes at, members of the crowd gathered to view the procession. The vigour and longevity of the orange throwing event has in past caused damage to property - some residents choose to seal windows to prevent this.
In Germany, Switzerland and Austria, Mardi Gras is called Karneval, Fastnacht, or Fasching. Fastnacht means "Eve of the Beginning of the Fast". One of the largest festivals is in Cologne, Germany:
Traditionally, the "fifth season" (carnival season) is declared open at 11 minutes past 11 on the 11th of November. The Carnival spirit is then temporarily suspended during the Advent and Christmas period, and picks up again in earnest in the New Year. The time of merrymaking in the streets is officially declared open at downtown square Alter Markt on the Thursday before the beginning of Lent. Street carnival, a week-long street festival, also called "the crazy days", takes place between the Fat Thursday (Weiberfastnacht) and ends on Ash Wednesday (Aschermittwoch). The highlight of the carnival is Rose Monday (Rosenmontag), two days before Ash Wednesday. All through these days, Cologne folks go out masqueraded. The typical greeting during the festival is Kölle Alaaf!, a Kölsch phrase which can be translated as "Cologne above all!"
In Europe, some of the earliest Carnivales were in Italy. One of the most elegant and sumptuous is in the canal city if Venice:
It is said that the Carnival of Venice was originated from a victory of the "Repubblica della Serenissima", Venice previous name, against the Patriarch of Aquileia, Ulrico in the year 1162. In the honor of this victory, the people started to dance and make reunions in San Marco Square. Apparently this festival started on that period and become official in the renaissance. After a long absence, the carnival return to operate in 1979. the Italian government decided to bring back the history and culture of Venice, and sought to use the traditional Carnival as the centerpiece of their efforts. Today, approximately 3,000,000 visitors come to Venice each day for Carnivals. One of the most important events is the contest for the best mask, placed at the last weekend of the Carnival. A jury of international costume and fashion designers votes for "La Maschera piu bella". [..]
Masks have always been a central feature of the Venetian carnival; traditionally people were allowed to wear them between the festival of Santo Stefano (St. Stephen's Day, December 26) and the start of the carnival season and midnight of Shrove Tuesday. They have always been around Venice. As masks were also allowed on Ascension and from October 5 to Christmas, people could spend a large proportion of the year in disguise. Maskmakers (mascherari) enjoyed a special position in society, with their own laws and their own guild.
Venetian masks can be made in leather or with the original glass technique. The original masks were rather simple in design,decoration, often had a symbolic, and practical function.[5] Nowadays, most of them are made with the application of gesso and gold leaf and are all hand-painted using natural feathers and gems to decorate.
Carnaval is the most famous holiday in Brazil and has become an event of huge proportions. Excepted the industries, malls and the carnival related workers, the country stops completely for almost a week and festivities are intense, day and night, mainly in coastal cities. The consumption of beer accounts for 80% of annual consumption[citation needed] and tourism receives 70% of annual visitors. The government distributes condoms and launches awareness campaigns at this time to prevent the spread of AIDS.
Each Brazilian has its own unique celebration, the most famous, of course, is the one in Rio de Janeiro:
Modern Brazilian Carnival originated in Rio de Janeiro in 1641 when the city's bourgeoisie, largely Portuguese, imported the practice of holding balls and masquerade parties from Paris. It originally mimicked the European form of the festival, later absorbing and creolizing elements derived from Native American and African cultures.
In the late 19th century, the cordões (literally "cords", laces or strings in Portuguese) were introduced in Rio de Janeiro. These were pageant groups that paraded through city avenues performing on instruments and dancing. Today they are known as Blocos (blocks), consisting of a group of people who dress in costumes or special t-shirts with themes and/or logos. Blocos are generally associated with particular neighborhoods; they include both a percussion or music group and an entourage of revellers.
Block parades have become an expressive feature of Rio's Carnival. Today, they number more than 100 and the groups increase each year. Blocos can be formed by small or large groups of revelers with a distinct title with an often funny pun. (Os blocos RJ, para os solteiros, são um lugar para conhecer e até beijar pessoas, or "The blocos in Rio de Janeiro, for the singles, are places to meet and even kiss people.") They may also note their neighborhood or social status. Before the show, they gather in a square, then parade in sections of the city, often near the beach. Some blocos never leave one street and have a particular place, such as a bar, to attract viewers. Block parades start in January, and may last until the Sunday after Carnival.
There occur Blocos parades in nearly every neighborhood throughout the city and metropolitan areas, but the most famous are the ones in Copacabana, Ipanema, Leblon, Lagoa, Jardim Botânico, and in downtown Rio. Organizers often compose their own music themes that are added to the performance and singing of classic "marchinhas" and samba popular songs. "Cordão do bola preta" ("Polka Dot Bloco"), that goes through the heart of Rio's historical center, and "Suvaco do Cristo" (Christ's statue armpit, referring to the angle of the statue seen from the neighborhood), near the Botanical Garden, are some of the most famous groups. Monobloco has become so famous that it plays all year round at parties and small concerts.
Samba schools are very large groups of performers, financed by respected organizations (as well as illegal gambling groups), who work year round in preparation for Carnival. Samba Schools perform in the Sambadrome, which runs four entire nights. They are part of an official competition, divided into seven divisions, in which a single school is declared the winner, according to costume, flow, theme, and band music quality and performance. Some samba schools also hold street parties in their neighborhoods, through which they parade along with their followers.
Malcolm X began to speak to a meeting of the Organization of Afro-American Unity when a disturbance broke out in the crowd of 400. A man yelled, "Nigger! Get your hand outta my pocket!" As Malcolm X and his bodyguards moved to quiet the disturbance, a man rushed forward and shot him in the chest with a sawed-off shotgun. Two other men charged the stage and fired handguns, hitting him 16 times. Furious onlookers caught and beat one of the assassins as the others fled the ballroom. Malcolm X was pronounced dead at 3:30 p.m., shortly after he arrived at Columbia Presbyterian Hospital.
Talmadge Hayer, a Nation of Islam member also known as Thomas Hagan, was arrested on the scene. Eyewitnesses identified two more suspects, Norman 3X Butler and Thomas 15X Johnson, also members of the Nation. All three were charged in the case. At first Hayer denied involvement, but during the trial he confessed to having fired shots at Malcolm X. He testified that Butler and Johnson were not present and were not involved in the assassination, but he declined to name the men who had joined him in the shooting. All three men were convicted.
Butler, now known as Muhammad Abdul Aziz, was paroled in 1985. He became the head of the Nation of Islam's Harlem mosque in New York in 1998. He continues to maintain his innocence. Johnson, now known as Khalil Islam, was released from prison in 1987. During his time in prison, he rejected the teachings of the Nation of Islam and converted to Sunni Islam. He, too, maintains his innocence. Hayer, now known as Mujahid Halim, was paroled in 2010.
The number of mourners who came to the public viewing in Harlem's Unity Funeral Home from February 23 through February 26 was estimated to be between 14,000 and 30,000. The funeral of Malcolm X was held on February 27 at the Faith Temple Church of God in Christ in Harlem. The Church was filled to capacity with more than 1,000 people. Loudspeakers were set up outside the Temple so the overflowing crowd could listen and a local television station broadcast the funeral live.
There are those who will consider it their duty, as friends of the Negro people, to tell us to revile him, to flee, even from the presence of his memory, to save ourselves by writing him out of the history of our turbulent times. Many will ask what Harlem finds to honor in this stormy, controversial and bold young captain-and we will smile. Many will say turn away-away from this man, for he is not a man but a demon, a monster, a subverter and an enemy of the black man-and we will smile. They will say that he is of hate-a fanatic, a racist-who can only bring evil to the cause for which you struggle! And we will answer and say to them: Did you ever talk to Brother Malcolm? Did you ever touch him, or have him smile at you? Did you ever really listen to him? Did he ever do a mean thing? Was he ever himself associated with violence or any public disturbance? For if you did you would know him. And if you knew him you would know why we must honor him.
Malcolm X was buried at Ferncliff Cemetery in Hartsdale, New York. At the gravesite after the ceremony, friends took the shovels away from the waiting gravediggers and completed the burial themselves. Actor and activist Ruby Dee (wife of Ossie Davis) and Juanita Poitier (wife of Sidney Poitier) established the Committee of Concerned Mothers to raise funds to buy a house and pay educational expenses for Malcolm X's family.
Why I Call Myself a Socialist Is the World Really a Stage? By Wallace Shawn, Tomdispatch.com
9:35am, February 3, 2011
Contrary to the popular misconception, the actor is not necessarily a specialist in imitating or portraying what he knows about other people. On the contrary, the actor may simply be a person who's more willing than others to reveal some truths about himself. Interestingly, the actress who, in her own persona, may be gentle, shy, and socially awkward, someone whose hand trembles when pouring a cup of tea for a visiting friend, can convincingly portray an elegant, cruel aristocrat tossing off malicious epigrams in an eighteenth-century chocolate house.
On stage, her hand doesn't shake when she pours the cup of chocolate, nor does she hesitate when passing along the vilest gossip about her closest friends. The actress's next-door neighbors, who may not have had the chance to see her perform, might say that the person they know could never have been, under any circumstances, either elegant or cruel. But she knows the truth that in fact she could have been either or both, and when she plays her part, she's simply showing the audience what she might have been, if she'd in fact been an aristocrat in a chocolate house in the eighteenth century.
We are not what we seem. We are more than what we seem. The actor knows that. And because the actor knows that hidden inside himself there's a wizard and a king, he also knows that when he's playing himself in his daily life, he's playing a part, he's performing, just as he's performing when he plays a part on stage. He knows that when he's on stage performing, he's in a sense deceiving his friends in the audience less than he does in daily life, not more, because on stage he's disclosing the parts of himself that in daily life he struggles to hide. He knows, in fact, that the role of himself is actually a rather small part, and that when he plays that part he must make an enormous effort to conceal the whole universe of possibilities that exists inside him.
...
(O)ne can hardly begin to describe the anguish caused by our habit of using our fantasizing capacity in the opposite direction, that is, using it to ascribe negative characteristics to people who, for one reason or another, we'd like to think less of. Sometimes we do this in regard to large groups of people, none of whom we've met. But we can even apply our remarkable capacity in relation to individuals or groups whom we know rather well, sometimes simply to make ourselves feel better about things that we happen to have done to them or are planning to do.
You couldn't exactly say, for example, that Thomas Jefferson had no familiarity with dark-skinned people. His problem was that he couldn't figure out how to live the life he in fact was living unless he owned these people as slaves. And as it would have been unbearable to him to see himself as so heartless, unjust, and cruel as to keep in bondage people who were just like himself, he ignored the evidence that was in front of his eyes and clung to the fantasy that people from Africa were not his equals.
Well, one could write an entire political history of the human race by simply recounting the exhausting cycle of fantasies which different groups have believed at different times about different other groups. Of course these fantasies were absurd in every case.
...
The domestic worker runs out of the shop and hurries back toward her job, and once again I see her only as the character she plays. I see a person who works as a servant. And surely that person could never have lived, for example, the life I've lived, or been like me -- she's not intelligent enough. She had to be a servant. She was born that way. The hustler surely had to be a hustler, it's all he could do, the cashier could never have worn beautiful clothes, she could never have been someone who sought out what was beautiful, she could only ever have worn that pink shirt and those green slacks.
So, just as Thomas Jefferson lived in illusion, because he couldn't face the truth about the slaves that he owned, I, too, put to use every second of my life, like my beating heart, this capacity to fantasize which we've all been granted as our dubious birthright. My belief in the performance unfolding before me allows me not to remember those dreadful moments when all of those babies were permanently maimed, and I was spared. The world hurled the infant who became the domestic worker to the bottom of a pit and crippled her for life, and I saw it happen, but I can't remember it now. And so it seems quite wonderful to me that the world today treats the domestic worker and me with scrupulous equality.
It seems wonderfully right. If I steal a car, I go to jail, and if she steals a car, she goes to jail. If I drive on the highway, I pay a toll, and if she drives on the highway, she pays a toll. We compete on an equal basis for the things we want. If I apply for a job, I take the test, and if she applies for the job, she takes the test. And I go through my life thinking it's all quite fair.
(beat)
If we look at reality for more than an instant, if we look at the human beings passing us on the street, it's not bearable. It's not bearable to watch while the talents and the abilities of infants and children are crushed and destroyed. These happen to be things that I just can't think about. And most of the time, the factory workers and domestic workers and cashiers and truck drivers can't think about them either. Their performances as these characters are consistent and convincing, because they actually believe about themselves just what I believe about them -- that what they are now is all that they could ever have been, they could never have been anything other than what they are. Of course, that's what we all have to believe, so that we can bear our lives and live in peace together. But it's the peace of death.
"Punting the Pundits" is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past "Punting the Pundits".
Last week the European Commission confirmed what everyone suspected: the economies it surveys are shrinking, not growing. It's not an official recession yet, but the only real question is how deep the downturn will be.
And this downturn is hitting nations that have never recovered from the last recession. For all America's troubles, its gross domestic product has finally surpassed its pre-crisis peak; Europe's has not. And some nations are suffering Great Depression-level pain: Greece and Ireland have had double-digit declines in output, Spain has 23 percent unemployment, Britain's slump has now gone on longer than its slump in the 1930s.
Worse yet, European leaders - and quite a few influential players here - are still wedded to the economic doctrine responsible for this disaster.
When we talk about hypocrisy in politics, we usually highlight personal behavior. The multiply married politician who proclaims "family values" while also having affairs is now a rather dreary stock figure in our campaign narratives.
But the hypocrisy that matters far more is the gap between ideology and practice that has reached a crisis point in American conservatism. This Republican presidential campaign is demonstrating conclusively that there is an unbridgeable divide between the philosophical commitments conservative candidates make before they are elected and what they will have to do when faced with the day-to-day demands of practical governance. Conservatives in power have never been-and can never be-as anti-government as they are in a campaign.
Suddenly, manufacturing is back - at least on the election trail. But don't be fooled. The real issue isn't how to get manufacturing back. It's how to get good jobs and good wages back. They aren't at all the same thing.
Republicans have become born-again champions of American manufacturing. This may have something to do with crucial primaries occurring next week in Michigan and the following week in Ohio, both of them former arsenals of American manufacturing. [..]
The fundamental problem isn't the decline of American manufacturing, and reviving manufacturing won't solve it. The problem is the declining power of American workers to share in the gains of the American economy.
As budget wonks comb over President Obama's outline for fiscal year 2013, a startling White House plan has become clear: the administration is seeking to undo some mandatory cuts to the Pentagon at the expense of critical domestic programs. It does so by basically undoing the defense sequester that kicked in as a result of the Congressional supercommittee on debt. This wasn't a featured part of the White House budget rollout, and for good reason-it undercuts the administration's carefully crafted message of benevolent government action and economic fairness.
The process for this shift is complicated, and has been flagged by the Center on Budget and Policy Priorities. Essentially, Obama wants to eliminate individual spending caps for both military and non-military spending, and institute one single discretionary spending cap instead. Here's the basic rundown.
If all goes as planned, it will be the happiest of wartimes in the U.S.A. Only the best of news, the killing of the baddest of the evildoers, will ever filter back to our world.
After all, American war is heading for the "shadows" in a big way. As news articles have recently made clear, the tip of the Obama administration's global spear will increasingly be shaped from the ever-growing ranks of U.S. special operations forces. They are so secretive that they don't like their operatives to be named, so covert that they instruct their members, as Spencer Ackerman of Wired's Danger Room blog notes, "not to write down important information, lest it be vulnerable to disclosure under the Freedom of Information Act." By now, they are also a force that, in any meaningful sense, is unaccountable for its actions.
Although the special ops crew (66,000 people in all) exist on our tax dollars, we're really not supposed to know anything about what they're doing -- unless, of course, they choose the publicity venue themselves, whether in Pakistan knocking off Osama bin Laden or parachuting onto Hollywood's Sunset Boulevard to promote Act of Valor. In case you somehow missed the ads, that's the new film about "real terrorist threats based on true stories starring actual Navy SEALs." (No names in the credits please!)
Everything old is new again and the people that should be paying the price for the housing crash are again going to profit from the further pain of the 11 million people left behind by the Foreclosure Fraud Settlement.
Some Wall Street investors made money as the mortgage market boomed; others profited when it fell apart.
Having reaped big gains during both of those turns, Greg Lippmann, a former star trader at Deutsche Bank, is now catching the next upswing: buying the same securities built from mortgages that he bet against before the financial crisis erupted.
Mr. Lippmann is joined by other big-money investors - mutual funds like Fidelity as well as hedge funds - in riding a wave of interest in the same complex loan pools that nearly washed away the financial system.
The attraction is the price. Some mortgage bonds are so cheap that even in the worst forecasts, with home prices falling as much as 10 percent and foreclosures rising, investors say they can still make money. [..]
Yet the tide could turn again and wipe out investors. Chief among the risks is Europe: the Continent's banks still hold a significant amount of United States mortgage securities, and if they are forced to sell assets, it could wreak havoc on the market.
Washington is a question mark, too. If banks have to pay for loans they issued under dubious circumstances, it would be a home run for investors, who could receive full payment for a mortgage in a security they bought at a discount. But if borrowers whose houses are worth less than their mortgages are able to reduce their principals on a large scale, bond investors could suffer because the securities would be worth even less than they paid. [..]
As for Mr. Lippmann, his reputation has made it both easier and more difficult to get commitments from investors. Some are impressed by his well-publicized bet against the mortgage market; others are turned off by his high profile in an industry known for secrecy and discretion.
LibreMax, made up of several members of Mr. Lippmann's team from Deutsche Bank, has raised more than $1 billion in a little over a year. His performance has been relatively strong during a period of market turmoil - up 2 percent last year and a little more than 6 percent since launching.
The Times is quoting Greg Lippmann, the patient zero of subprime? If the SEC investigation of Deutsche Bank were remotely serious, Lippmann would be in serious trouble. What Greg Zuckerman and Michael Lewis have written about them in their books on subprime shorts alone is grist for a good civil suit. And even worse, the headline implies that there is a market for newly issued non-governemnt guaranteed bonds (wrong, that's dead) when this is about speculation in vintage subprime.
The funniest bit is that the Times is acting as if the fact that Lippmann is talking up the market is a tip of sorts. As one of my buddies pointed out long ago, what you worry about when an investor talks up his book is not that he is trying to get more people in to raise the price, but he is trying to get more people in so he can complete his exit.
William Goddard, a Patriot printer frustrated that the royal postal service was unable to reliably deliver his Pennsylvania Chronicle to its readers or deliver critical news for the paper to Goddard, laid out a plan for the "Constitutional Post" before the Continental Congress on October 5, 1774. Congress waited to act on the plan until after the Battle of Lexington and Concord on April 19, 1775. Benjamin Franklin promoted Goddard's plan and served as the first postmaster general under the Continental Congress beginning on July 26, 1775, nearly one year before the Congress declared independence from the British Crown. Franklin's son-in-law, Richard Bache, took over the position on November 7, 1776, when Franklin became an American emissary to France.
Franklin had already made a significant contribution to the postal service in the colonies while serving as the postmaster of Philadelphia from 1737 and as joint postmaster general of the colonies from 1753 to 1774, when he was fired for opening and publishing Massachusetts Royal Governor Thomas Hutchinson's correspondence. While postmaster, Franklin streamlined postal delivery with properly surveyed and marked routes from Maine to Florida (the origins of Route 1), instituted overnight postal travel between the critical cities of New York and Philadelphia and created a standardized rate chart based upon weight and distance. [3]
Samuel Osgood held the postmaster general's position in New York City from 1789, when the U.S. Constitution came into effect, until the government moved to Philadelphia in 1791. Timothy Pickering took over and, about a year later, the Postal Service Act gave his post greater legislative legitimacy and more effective organization. Pickering continued in the position until 1795, when he briefly served as secretary of war, before becoming the third U.S. secretary of state. The postmaster general's position was considered a plum patronage post for political allies of the president until the Postal Service was transformed into a corporation run by a board of governors in 1971 following passage of the Postal Reorganization Act.
This is the third part of a four part series about milk. The first and second parts are here and here. The final installment will be about human milk with emphasis on its importance to the development of infants.
Cheese is one of the oldest processed food products known. Whilst the origins of cheesemaking are obscure, it is fairly easy to speculate on how it got started, and we shall look at that in due time. Archaeological evidence indicates that cheesemaking was an established art at least 4000 years ago, and the actual date of regular production is likely to be much older than that, but no records exist.
Because of the tremendous variety of cheese, I am sure not to mention one of your favorites. Please pardon that oversight, but I like to keep under 5000 words! However, I found an expert source that is likely to mention yours, and it appears directly under the fold.
Mardi Gras, Carnivale, Shove Tuesday, Fat Tuesday, what ever you call the day before the Christian Lent, it's all about food, fatty food. Eat, drink and be merry for at midnight you must fast and give up your favorite vice, except on Sunday, for the next forty days, that is if you're a Christian. We Pagans just raise an eye brow and enjoy the party and the FOOD!
Traditional foods are all rich, fatty and sweet. Gumbo, jambalaya, red beans and rice, catfish, po' boys to pancakes and beignets are all calorie laden delights that will need 40 days of fasting and exercise to shed the pounds. So to start the party off, here are a few recipes for a hearty gumbo, desert, something to drink and, of course, King Cake. Tradition is the person who discovers the tiny plastic or porcelain baby in his or her slice is branded as the provider of the next cake. In pre-Christian societies whoever found a coin or bean in a special cake was crowned King for the year; afterwards, he was sacrificed to ensure a good harvest - which makes having to pony up for the next cake seem like a mighty good deal.
12 ounces applewood-smoked bacon, diced
1 1/2 pounds smoked fully cooked sausage (such as linguiça), halved lengthwise, cut crosswise into 1/2-inch-thick semi-circles
1 pound andouille sausages, quartered lengthwise, cut crosswise into 1/2-inch cubes
1/2 pound tasso or smoked ham (such as Black Forest), cut into 1/2-inch cubes
1 1/2 pounds onions, chopped (4 to 5 cups)
2 large celery stalks, chopped
1 8-to 10-ounce red bell pepper, coarsely chopped
1 8-to 10-ounce green bell pepper, coarsely chopped
6 large skinless boneless chicken thighs, cut into 1- to 11/2-inch pieces
2 tablespoons paprika
1 tablespoon chopped fresh thyme
1 tablespoon chili powder
1/4 teaspoon (or more) cayenne pepper
3 10-ounce cans diced tomatoes and green chiles
2 1/2 cups beef broth
3 cups (19 to 20 ounces) long-grain white rice
8 green onions, chopped (about 2 cups)
Chopped fresh Italian parsley
Preparation:
Position rack in bottom third of oven and preheat to 350°F. Cook bacon in very large pot over medium-high heat until brown but not yet crisp, stirring often, 8 to 10 minutes. Add smoked sausage, andouille, and tasso. Sauté until meats start to brown in spots, about 10 minutes. Add onions, celery, and bell peppers. Cook until vegetables begin to soften, stirring occasionally, 10 to 12 minutes. Mix in chicken. Cook until outside of chicken turns white, stirring often, 5 to 6 minutes. Mix in paprika, thyme, chili powder, and 1/4 teaspoon cayenne. Cook 1 minute. Add diced tomatoes with chiles and broth; stir to blend well. Add more cayenne, if desired. Mix in rice.
Bring jambalaya to boil. Cover pot. Place in oven and bake until rice is tender and liquids are absorbed, 45 to 48 minutes. Uncover pot. Mix chopped green onions into jambalaya; sprinkle jambalaya with chopped parsley and serve.
3/4 cup whole milk
1 1/2 cups buttermilk
4 teaspoons active dry yeast
2 1/2 tablespoons sugar
3 1/2 cups bread flour plus extra for flouring work surface
1/2 teaspoon baking soda
1/4 teaspoon salt
Peanut oil for frying
Confectioners' sugar for serving, as much as you think you'll need-then double that!
Preparation:
Heat the milk in a small saucepan over medium-high heat until small bubbles form at the surface. Remove from the heat, add the buttermilk, and then pour into a stand mixer bowl. Whisk in the yeast and the sugar and set aside for 5 minutes. Add the flour, baking soda, and salt, and mix on low speed, using a dough hook, until the dry ingredients are moistened, 3 to 4 minutes. Increase the mixer speed to medium and continue mixing until the dough forms a loose ball and is still quite wet and tacky, 1 to 2 minutes longer. Cover the bowl with plastic wrap and set the dough aside in a draft-free spot for 1 hour.
Pour enough peanut oil into a large pot to fill it to a depth of 3 inches and bring to a temperature of 375°F over medium heat (this will take about 20 minutes). Line a plate with paper towels and set aside.
Lightly flour your work surface and turn the dough out on it. Sprinkle the top of the dough with flour, gently press to flatten, fold it in half, and gently tuck the ends under to create a rough-shaped round. Dust again and roll the dough out into a ½-inch- to ¹/³ inchthick circle. Let the dough rest for 1 minute before using a chef's knife, a bench knife, or a pizza wheel to cut the dough into 1 1/2-inch squares (you should get about 48).
Gently stretch a beignet lengthwise and carefully drop it into the oil. Add a few beignets (don't overcrowd them, otherwise the oil will cool down and the beignets will soak up oil and be greasy) and fry until puffed and golden brown, turning them often with a slotted spoon, for 2 to 3 minutes. Transfer to the prepared plate to drain while you cook the rest. Serve while still warm, buried under a mound of confectioners' sugar, with hot coffee on the side.
Make ahead:
The beignet dough can be made up to 8 hours in advance of frying. Line a baking sheet with parchment paper and spray it with nonstick cooking spray. After cutting the dough, place the beignets on the paper and place another greased sheet of parchment paper, sprayed-side down, on top. Wrap the entire baking sheet with plastic wrap and refrigerate. The beignets can be fried straight from the refrigerator.
1/3 cup milk
1 package active dry yeast
2 1/2 cups bread flour, plus more for dusting
2 large egg yolks, plus 2 eggs
3 tablespoons granulated sugar
Finely grated zest of 1 lemon
1 teaspoon salt
1/2 teaspoon freshly grated nutmeg
1 1/2 sticks unsalted butter, melted and cooled, plus more for greasing the bowl
For the Filling and Glaze:
1/2 cup golden raisins
1/4 cup bourbon
3/4 cup packed dark brown sugar
2/3 cup toasted pecans, chopped
1 teaspoon vanilla extract
1 teaspoon ground cinnamon
2 teaspoons grated orange zest
1/4 teaspoon salt
1 dry bean or plastic King Cake baby (available at party-supply stores or mardigrasday.com)
1/2 cup confectioners' sugar
Purple, green and gold sanding sugar, for decorating
Directions:
Make the cake: Heat the milk in a saucepan until scalding; transfer to a food processor, add the yeast and pulse to combine. Add 1/2 cup flour and the egg yolks; process to combine. Pour the remaining 2 cups flour evenly over the yeast mixture; do not process. Put the lid on; set aside for 90 minutes.
Add the 2 whole eggs, granulated sugar, lemon zest, salt and nutmeg to the food processor; process to make a slightly textured dough, about 1 minute. With the machine running, slowly add the butter to make a smooth, sticky dough. Transfer the dough to a lightly buttered bowl and cover tightly with plastic wrap; let rise in a warm place for 3 hours. Turn the dough out onto a clean surface and knead briefly; form into a ball and return to the bowl. Cover tightly with plastic wrap and refrigerate for 8 hours or overnight.
Make the filling:
Plump the raisins in the bourbon in a small saucepan over medium heat. Remove from the heat and add the brown sugar, pecans, vanilla, cinnamon, orange zest, salt and the bean or plastic baby; mix until combined and set aside.
On a floured surface, roll the dough into a 20-by-7-inch rectangle, with the long edge facing you. Spoon the filling in an even layer over the dough, leaving a 1-inch border along the top and bottom. Fold the bottom and then the top edge over the filling to make a tight roll; pinch to seal. Transfer the roll seam-side down to a parchment-lined baking sheet; tuck one end into the other to form a ring. Cover loosely with plastic wrap and set aside in a warm place until the roll doubles in size, about 2 hours.
Preheat the oven to 350 degrees. Bake the cake until firm and golden brown, about 40 minutes. Cool on a rack.
Make the glaze:
Mix 3 tablespoons water with the confectioners' sugar; brush 3 tablespoons glaze over the cake. Sprinkle with bands of colored sugar; drizzle with more glaze.
In the years since Katrina, the only welcome storms in New Orleans are the ones in a glass. Watch out for this fruity, gale-force rum concoction-more than one, and you'll need to declare yourself a natural disaster.
Because the syrup is hard to come by (and artificially flavored) here is a substitute for it that was well received: a tablespoon of passion fruit sorbet (Häagen Dazs makes one) and a teaspoon of grenadine, per serving.
Ingredients:
1 ounce light rum
1 ounce dark rum
1 tablespoon passion fruit syrup
Juice of 1/2 lime
1 teaspoon superfine sugar, or to taste
Ice cubes
Preparation:
Mix all ingredients except ice in shaker. Stir to dissolve sugar. Add ice cubes, shake well, and strain mixture into a cocktail glass.
On this day in 1942, U.S. President Franklin D. Roosevelt signs Executive Order 9066, authorizing the removal of any or all people from military areas "as deemed necessary or desirable." The military in turn defined the entire West Coast, home to the majority of Americans of Japanese ancestry or citizenship, as a military area. By June, more than 110,000 Japanese Americans were relocated to remote internment camps built by the U.S. military in scattered locations around the country. For the next two and a half years, many of these Japanese Americans endured extremely difficult living conditions and poor treatment by their military guards.
The order authorized the Secretary of War and U.S. armed forces commanders to declare areas of the United States as military areas "from which any or all persons may be excluded," although it did not name any nationality or ethnic group. It was eventually applied to one-third of the land area of the U.S. (mostly in the West) and was used against those with "Foreign Enemy Ancestry" - Japanese.
The order led to the internment of Japanese Americans or AJAs (Americans of Japanese Ancestry); some 120,000 ethnic Japanese people were held in internment camps for the duration of the war. Of the Japanese interned, 62% were Nisei (American-born, second-generation Japanese American and therefore American citizens) or Sansei (third-generation Japanese American, also American citizens) and the rest were Issei (Japanese immigrants and resident aliens, first-generation Japanese American).
Japanese Americans were by far the most widely affected group, as all persons with Japanese ancestry were removed from the West Coast and southern Arizona. As then California Attorney General Earl Warren put it, "When we are dealing with the Caucasian race we have methods that will test the loyalty of them. But when we deal with the Japanese, we are on an entirely different field." In Hawaii, where there were 140,000 Americans of Japanese Ancestry (constituting 37% of the population), only selected individuals of heightened perceived risk were interned.
Americans of Italian and German ancestry were also targeted by these restrictions, including internment. 11,000 people of German ancestry were interned, as were 3,000 people of Italian ancestry, along with some Jewish refugees. The Jewish refugees who were interned came from Germany, and the U.S. government didn't differentiate between ethnic Jews and ethnic Germans (jewish was defined as religious practice). Some of the internees of European descent were interned only briefly, and others were held for several years beyond the end of the war. Like the Japanese internees, these smaller groups had American-born citizens in their numbers, especially among the children. A few members of ethnicities of other Axis countries were interned, but exact numbers are unknown.
Secretary of War Henry L. Stimson was responsible for assisting relocated people with transport, food, shelter, and other accommodations.
FBI Director J. Edgar Hoover opposed the internment, not on constitutional grounds, but because he believed that the most likely spies had already been arrested by the FBI shortly after the Japanese surprise attack on Pearl Harbor. First lady Eleanor Roosevelt was also opposed to Executive Order 9066. She spoke privately many times with her husband, but was unsuccessful in convincing him not to sign it
In December 1982, the CWRIC issued its findings in Personal Justice Denied, concluding that the incarceration of Japanese Americans had not been justified by military necessity. The report determined that the decision to incarcerate was based on "race prejudice, war hysteria, and a failure of political leadership." The Commission recommended legislative remedies consisting of an official Government apology and redress payments of $20,000 to each of the survivors; a public education fund was set up to help ensure that this would not happen again (Public Law 100-383).
On August 10, 1988, the Civil Liberties Act of 1988, based on the CWRIC recommendations, was signed into law by Ronald Reagan. On November 21, 1989, George H.W. Bush signed an appropriation bill authorizing payments to be paid out between 1990 and 1998. In 1990, surviving internees began to receive individual redress payments and a letter of apology.
To: Hiring Committee, Goldman Sachs
From: Barry Ritholtz
Re: Position, Head of Public Relations, Goldman Sachs
Date: February 13, 2012
(I)t is with great pleasure that I toss my hat into the ring for the position of Director of Communications for Goldman Sachs. Not only do I have the requisite skill set to help rehabilitate the image of the 100+ year old firm - media savvy, legal smarts, netizen, with just a dollop of snark - but I believe I can help you move gracefully into the new century.
Comments
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data, ability to repeat discredited memes, and lack of respect for scientific knowledge. Also, be sure to create straw men and argue against things I have neither said nor even implied. Any irrelevancies you can mention will also be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.
"Punting the Pundits" is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
Thanks to ek hornbeck, click on the link and you can access all the past "Punting the Pundits".
The Melissa Harris-Perry Show: MSNBC contributor, author and Tulane Professor Melissa Harris-Perry debuts her weekend program, "Melissa Harris-Perry," on Saturday, February 18 at 10 a.m. ET. Melissa's show will be live from 10a-noon ET both Saturday and Sunday after Up With Chris Hayes
This Week with George Stephanopolis: Sen. John McCain (R-AZ) is interviewed by Jake Tapper and, later, former White House press secretary Robert Gibbs. The "This Week" roundtable debates all the week's politics, with ABC's George Will, ABC News senior political correspondent Jonathan Karl, FOX Business Network host Lou Dobbs, Vanity Fair contributing editor and former Clinton White House press secretary Dee Dee Myers, and Chicago Tribune columnist Clarence Page.
Face the Nation with Bob Schieffer: Mr. Schieffer's guests are GOP Presidential candidate Rick Santorum and an interview with Mitt Romney biographer Michael Kranish. The panel guests are CBS News' Norah O'Donnell and John Dickerson, The Washington Post's Karen Tumulty and The Detroit Free Press' Todd Spangler.
The Chris Matthews Show: This week's guests Liz Marlantes, The Christian Science Monitor; Michael Duffy, TIME Magazine Assistant Managing Editor; Major Garrett, National Journal Congressional Correspondent; and Kelly O'Donnell, NBC News Capitol Hill Correspondent.
Meet the Press with David Gregory: the House Budget Committee ranking member Rep. Chris Van Hollen (D-MD) and Chairman Rep. Paul Ryan (R-WI) debate the economy. The roundtable guests are GOP strategist Ed Gillespie, Bloomberg's Al Hunt, The NY Times' Helene Cooper, and NBC's Andrea Mitchell.
State of the Union with Candy Crowley: Presidential candidate Rep. Ron Paul (R-TX) is interviewed by Ms. Crowley. Indiana Governor Mitch Daniels (R), and former GOP Presidential Candidate Michele Bachmann (R-MI) assess the state of the GOP field. Former CIA director Michael Hayden and former ambassador to Egypt and Israel, Ed Walker discuss the turmoil in the Middle East.
Palestinian's Trial Shines Light on Military Justice
By ISABEL KERSHNER
NABI SALEH, West Bank - A year ago, Islam Dar Ayyoub was a sociable ninth grader and a good student, according to his father, Saleh, a Palestinian laborer in this small village near Ramallah.
Then, one night in January 2011, about 20 Israeli soldiers surrounded the dilapidated Dar Ayyoub home and pounded vigorously on the door. Islam, who was 14 at the time, said he thought they had come for his older brother. Instead, they had come for him. He was blindfolded, handcuffed and whisked away in a jeep.
Those of you that read this regular series know that I am from Hackett, Arkansas, just a mile or so from the Oklahoma border, and just about 10 miles south of the Arkansas River. It was a rural sort of place that did not particularly appreciate education, and just zoom onto my previous posts to understand a bit about it.
I started the eighth grade at Saint Anne's High School in Fort Smith, Arkansas when I was 13 years old. I sort of skipped the seventh grade, and the sisters at Saint Anne's thought that I was OK to go directly to the eighth grade from the sixth.
I flourished there, and still have several of my friends there in contact. My very best male friend was from there, and we converse almost every night. We love each other as brothers do, and he is actually more of a brother to me than my own brother is in some respects.
Brave new (digital) world "Silent camera" apps are being blamed for a rise in complaints from women about perverts snapping illegal upskirt photos. The National Police Agency says the number of such incidents increased from 1,068 in 2006 to 1,702 in 2010.
An LDP lawmaker got a surprise when he discovered that someone hacked into his YouTube account and uploaded a Russian-language porn video.
Meanwhile, a hacker disabled the website of the government committee investigating the disaster at the Fukushima Daiichi nuclear plant.
Two Japanese companies were fined a total of ¥17 million by the Intellectual Property High Court for broadcasting copyrighted TV programs over the internet.
An Osaka man became the first person in Japan arrested for breaking a six-month-old law against creating computer viruses.
Welcome to the Stars Hollow Health and Fitness weekly diary. It will publish on Saturday afternoon and be open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.
Questions are encouraged and I will answer to the best of my ability. If I can't, I will try to steer you in the right direction. Naturally, I cannot give individual medical advice for personal health issues. I can give you information about medical conditions and the current treatments available.
You can now find past Health and Fitness News diaries here and on the right hand side of the Front Page.
I wanted each of these stews to feature a nutritious vegetable along with the chicken and aromatics. In this way they are truly one-dish, nutrient-dense meals. Though I suggest serving them with rice, other grains or pasta, if carbs are an issue, know that these stews are very satisfying on their own.
Loosely based on an Algerian recipe from "Real Stew" by Clifford A. Wright, this sweetly spiced dish, with beta-carotene-rich apricots and sweet potatoes, is also evocative of recipes from the Middle East and Iran.
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The carnival is the most known of several others that take place in Belgium at the same time and has been proclaimed as a 
Traditionally, the "fifth season" (carnival season) is declared open at 11 minutes past 11 on the 11th of November. The Carnival spirit is then temporarily suspended during the Advent and Christmas period, and picks up again in earnest in the New Year. The time of merrymaking in the streets is officially declared open at downtown square Alter Markt on the Thursday before the beginning of Lent. Street carnival, a week-long street festival, also called "the crazy days", takes place between the Fat Thursday (Weiberfastnacht) and ends on Ash Wednesday (Aschermittwoch). The highlight of the carnival is 
It is said that the Carnival of Venice was originated from a victory of the "Repubblica della Serenissima", Venice previous name, against the Patriarch of Aquileia, Ulrico in the year 1162. In the honor of this victory, the people started to dance and make reunions in San Marco Square. Apparently this festival started on that period and become official in the renaissance. After a long absence, the carnival return to operate in 1979. the Italian government decided to bring back the history and culture of Venice, and sought to use the traditional Carnival as the centerpiece of their efforts. Today, approximately 3,000,000 visitors come to Venice each day for Carnivals. One of the most important events is the contest for the best mask, placed at the last weekend of the Carnival. A jury of international costume and fashion designers votes for "La Maschera piu bella". [..]
Modern Brazilian Carnival originated in Rio de Janeiro in 1641 when the city's bourgeoisie, largely Portuguese, imported the practice of holding balls and masquerade parties from Paris. It originally mimicked the European form of the festival, later absorbing and creolizing elements derived from Native American and African cultures.
On this day in 1965, 
Mardi Gras, Carnivale, Shove Tuesday, Fat Tuesday, what ever you call the day before the Christian Lent, it's all about food, fatty food. Eat, drink and be merry for at midnight you must fast and give up your favorite vice, except on Sunday, for the next forty days, that is if you're a Christian. We Pagans just raise an eye brow and enjoy the party and the FOOD!
On this day in 1942, 
Welcome to the Stars Hollow Health and Fitness weekly diary. It will publish on Saturday afternoon and be open for discussion about health related issues including diet, exercise, health and health care issues, as well as, tips on what you can do when there is a medical emergency. Also an opportunity to share and exchange your favorite healthy recipes.
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