Wireless Innovation Regulation — ‘Believe it or Not!’

-By Scott Cleland

With due to credit to “Ripley’s Believe it or Not!®,” so much odd and bizarre is happening in Washington in the “name” of “wireless innovation” and competition that the topic calls for its own collection of “Believe it or Not!®” oddities.

Skype co-founder Niklas Zennstom, also the co-founder of illegal-music-downloading site Kazaa, who had to avoid entering the U.S. because of copyright-infringement liability… is now seeking a U.S. court injunction to shut down eBay’s Skype for alleged copyright violations!

Amazon, a leading proponent of net neutrality legislation to ban Internet providers from blocking any content, abruptly removed without permission thousands of copies of George Orwell’s books from Kindle reading devices… just like “Big Brother” would have done in “Nineteen Eighty Four“!
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Wireless Innovation Regulation — ‘Believe it or Not!’”


Ill. Blogger Running for State Legislature, 41st District

-By Warner Todd Huston

Matt Burden of the blog BlackFive.net has announced that he is running as a Republican for the the State Legislature. Burden has announced his plans to run for the 41st District. The 41st covers parts of Oak Brook, Westchester, Villa Park, La Grange Park and Oak Brook Terrace.

The seat is currently held by Bob Biggins (R, Elmhurst) but Biggins recently announced he is not running for reelection. This seems to have opened up the floodgates for candidates. Burden joins a very crowded field including attorney Peter Breen, Rafael Rivadeneira, DuPage Co Board member Brien Sheahan and Chris Nybo from Elmhurst.

On his campaign website, Burden does have one disturbing thing as far as I am concerned:

While there is no campaign contribution limit in Illinois (something I will change)…

Something he “will change”? Is Matt Burden suggesting tromping on the Constitutional right of free political speech by using the force of law to stop people from donating to political candidates in amounts he deems gauche? That is not a good sign for Burden’s understanding of the Constitution, I have to say.
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Ill. Blogger Running for State Legislature, 41st District”


Obama is ‘Concerned’ About Blogosphere

-By Warner Todd Huston

The Hill is reporting that Obama is now “open” to a newspaper bailout. Well, welcome to the state run media.

Not long ago Senator Ben Cardin (D- Md.) introduced S. 673, the Newspaper Revitalization Act. It is supposed to give news media tax breaks if they restructure as a non-profit corporation. So far, though, the bill has little support among his colleagues.

The Hill reminds us that in May Obama’s spokesman down played the possibility of government assistance to the media.

But in a recent appearance with the editors of the Pittsburgh Post-Gazette Obama seemed to say he’s open to the idea saying, “I haven’t seen detailed proposals yet, but I’ll be happy to look at them.”
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Obama is ‘Concerned’ About Blogosphere”


School Pensions Making Millionaires out of Retiring Employees

-By Warner Todd Huston

Bill Zettler recently submitted a Freedom of Information request on the pensions of 13 retiring public school employees from District 211 in Palatine, Illinois and he found that the people of Illinois are on the hook for over $50 million in pension benefits promised to people retiring at the average age of 58.

Zettler found that these school employees are seeing an average of $96,000 a year in pension benefits whereas the average Social Security benefit is $13,500 a year. SS recipients also don’t get their benefits until they’ve reached 63 at least while the average retirement age of these public employees is 58.

I’ll get right to Mr. Zettler’s pullout quote, one that really puts the whole situation in perfect focus. “If the purpose of taxation is to provide for the common good,” Zettler said, “we may ask what common good is provided by making public employees multi-millionaires in their fifties?”
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School Pensions Making Millionaires out of Retiring Employees”


Your House Is On Fire, Oh, I Didn’t Notice

-By Dan Scott

Liberals, their plans, veracity and activities have been under a lot of public scrutiny lately. They seem to be very uncomfortable with the light of public gaze upon them, even to the point of walking on eggshells. When they can’t find what they believe is an non revealing answer which they know will anger the public to some very straightforward questions they pretend to be obtuse on the issue at hand. Feigning obtuseness seems to be the best they can do to not come clean on the issues. The point of feigning obtuseness is to avoid the really uncomfortable questions of why they failed to respond to something, which so obviously is inappropriate. It’s the old, “what did you know” and “when did you know it” quagmire. The failure to respond appropriately is a very telling disconnect of “affect” which calls into question one’s competence, motives or agenda.

The disconnect of affect was raised to the ridiculous with the growing scandals involving ACORN. Charles Gibson, an ABC news anchor was asked why the media wasn’t covering the cut off of funds by Congress to ACORN. Gibson claimed he didn’t know anything about it. How likely was his answer? Let’s add some background context to answer that question. A person working for the media doesn’t know anything (to the point of cluelessness) about an organization squandering public funds engaging in clearly unethical activity caught on video tape, the story gone viral on the internet, talked about on the radio waves and reported on by at least one media outlet and one print outlet. Furthermore, the standard procedure for all media organizations is to monitor their competitors so they aren’t scooped which would cause a loss of ratings share. A loss of ratings share means a LOSS of advertising revenue, and that’s their lifeblood. Is it likely Charles Gibson didn’t know about the ACORN story? NOT LIKELY. Why did Gibson give such a lame response? To not answer the question what did you know, when did you know about it and what was your reason to not report on it? You notice Gibson never answered the question why he wasn’t reporting on it. It makes one wonder what else the media hasn’t covered and what were their reasons.
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Your House Is On Fire, Oh, I Didn’t Notice”


M-O-N-E-Y & Influence

-By Nancy Salvato

If you want that girl
Listen, son
Don’t you sit around and cry
Because, love
In this world
Ain’t nothing you can’t buy

— Lyle Lovett, Money

Money may not really buy love or make the world go round, but it certainly does help society to function efficiently. Money, which is assigned a value, is the item of exchange we use if we want to purchase something. The work we do to earn money is also assigned a value and the amount something costs reflects the value in producing or developing it. Most people would agree that the reward of money is the incentive they need to invest their time and labor into many of the tasks that demand their attention. While there may be additional reasons for applying ourselves to projects, a surplus of money allows us more freedom to devote our energy to additional pursuits.
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M-O-N-E-Y & Influence”


Dave Winters Drops Out of Lt. Governor Race

-By Warner Todd Huston

Rockford TV reports the abrupt drop out of Republican Dave Winters in the race for Lt. Gov. This is the second drop out of the state wide race as Matt Murphy dropped his bid for Gov and will likely take up the race for Lt. Gov. instead as Andy McKenna’s running mate.

Dave Winters Drops Out of Lt. Governor Race

-By Whitney Martin

It’s a career move that has some local opponents not so happy tonight. Representative Dave winters withdrew his name from the race for lieutenant governor.

After spending three months campaigning for Lt.Governor of Illinois.. State Representative, Dave winters is dropping out of the race and instead will run for re –election

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Dave Winters Drops Out of Lt. Governor Race”


Was Insurance At Fault for Young Man’s Heart Disease Death?

-By Warner Todd Huston

Here is the latest Publius podcast about the New York Times article on the sad story of Mr. Eric De La cruz who died at 31 from heart disease. He was denied government healthcare from Social Security and Medicare and he died as a result. Yet the New York Times blames the insurance industry?


What Mandates Do To Our Insurance

-By Warner Todd Huston

There has been a lot of talk about mandates emanating from the federal government to force each of us to buy healthcare insurance but what do those mandates do to the insurance itself? And are they even Constitutionally justified?

First of all we need to remind everyone that these mandates cannot possibly be Constitutional. After all, the Constitution does not give Congress the power to demand that the citizens buy a certain product. The Constitution only gives Congress the power to tax, not to serve as an arm of any industry. These mandates will essentially make the federal government an insurance salesman and this is most certainly unconstitutional.

Still, even if we are unfortunate enough to be burdened with this new system, what will it do to our insurance companies?
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What Mandates Do To Our Insurance”


Is it American to be Forced Into a Union? In Obama’s America it is!

-By Warner Todd Huston

Welcome to Obama’s America where you are forced to become a union member even if you had no idea you were being inducted into one. In fact, in Obama’s America you won’t even know you are IN a union until you notice union dues are being withheld from your checks.

This is the case in Michigan where Sherry Loar and Dawn Ives work out of their home talking care of children for low-income families. One Friday the pair realized that union dues were being withheld from the checks they receive from the state for the subsidized daycare they perform for local families.

As it happens, neither woman voted to join a union nor even knew that they’d be forcefully inducted into one. They didn’t even know their job had a union.
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Is it American to be Forced Into a Union? In Obama’s America it is!”


Mandates Must be Unconstitutional

-By Warner Todd Huston

Imagine a day when a president could tell you that you have to buy something or become a criminal via federal law if you don’t. Imagine a day when you are not allowed to choose not to buy a certain product. In a land of true freedom and liberty worrying about the arrival of such a day would seem ridiculous. But what was once risible is now a frightening reality if Obamacare gets passed.

Now, if Obamacare passes, any citizen that does not “choose” to buy healthcare insurance will be deemed a criminal that will be penalized under the law. Obama’s IRS stormtroopers will come a’knockin to make sure you fulfill your duty to the state.

So what could stop these anti-liberty mandates? According to David B. Rivkin, Jr., and Lee A. Casey, the Constitution of the United States should. Rivkin and Casey maintain in recent Wall Street Journal piece that Obama’s forced insurance mandates are un-Constitutional.
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Mandates Must be Unconstitutional”


Guns are not the Problem: Crooks Are!

-By Don Boys, Ph.D.

Almost every gun critic uses specious arguments to support the unsupportable. They are defending a castle in ruins. However, they keep trying by using the Bible and Christ to prop up their fallacious argument: only police and the military should possess guns.

The argument is not whether or not Jesus carried a weapon. After all, He was God. Why would He need a weapon? However, the question is should Christians have guns and use them when necessary? I have been accused of taking the position that guns are “godly” but I never took that position. My critics often opine that “Guns are evil.” Guns are inanimate objects, neither good nor evil, but they can be used for good or evil. Likewise, humans can use drugs, automobiles, knives, clubs, etc., in an evil and harmful way or in a good way.

Wimpy liberals lose total control of their thinking process when it comes to guns. It is better to have a gun and not need it than need one and not have one. Many wimps would stand by and permit intruders to harm, rape, even kill their family! I took a vow to protect my wife so that means anyone in our home late at night will be presumed a thief, rapist, and killer. He will be shot graveyard dead. The following day, I will contact the governor of Georgia and ask him when he wants me to come to Atlanta for an awards ceremony. I assume he will give me the key to the city of Atlanta and maybe designate the day, “Don Boys’ Day” in honor of me removing scum from our state and making innocent people more secure.
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Guns are not the Problem: Crooks Are!”


Googleopoly IV: Monopsony Control over Digital Info Competition — New White Paper

-By Scott Cleland

My latest Google antitrust white paper, “Googleopoly IV: The Googleopsony Case,” is the first antitrust analysis which connects-the-dots between Google’s search advertising selling monopoly and Google’s information access buying monopoly or “monopsony” by explaining and documenting how Google is harming competition in digital: news, books, broadcasting, artwork, documents and analytics; and harming consumers seeking quality digital information that is not free.

(Googleopoly I was the first public analysis of why Google ultimately would emerge as a monopoly and Googleopoly II & III were the first public antitrust analyses why the DOJ should block the Google-Yahoo ad agreement, which the DOJ did block 11-5-08.)

Anyone trying to see-the-world-whole and and understand how the Internet’s digital information ecosystem fits together and is devolving– needs to read this white paper.
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Googleopoly IV: Monopsony Control over Digital Info Competition — New White Paper”


AFL-CIO Prez Tumka Asked a Few Tough Questions

-By Warner Todd Huston

So what about those union pensions, Mr. Trumka? Your union has severely underfunded your member’s pensions for years. Don’t you care if your members have enough to retire on? Isn’t that what your union promised to them?

Well someone is asking these questions, anyway. Unfortunately, it isn’t the bought-off Obama administration. It’s the Free Enterprise Alliance and they are starting with these billboards in Pittsburgh.

Too bad AFL-CIO bosses don’t care enough about their members to answer such pesky questions, eh?

Of course, the pensions for the bosses and union management are fully funded, so why should Trumka care? Boss pensions are juuuuust fine. As long as he’s getting his, why worry about those foolish, annoying, lowly members?

They are such a bother, youse guys know whot I’m talkin’ about?
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AFL-CIO Prez Tumka Asked a Few Tough Questions”


Ill. GOP Minority Leader in Bed With Criminal ACORN?

-By Warner Todd Huston

Shockingly, it looks like Tom Cross (R- Oswego), the Republican Minority leader at the State Capitol in Springfield, has taken several large campaign donations from the criminal organization ACORN. Even worse, it looks like Cross indulged a quid pro quo to help the troubled community organization out on some of their favored legislative efforts.

Over at ChampionNews.net, Doug Ibendahl has uncovered some uncomfortable information about our Republican minority leader’s campaign coffers. Ibendahl has found that Service Employees International Union (SEIU) Local 880 donated $17,750 to Cross in 2003 and another $10,000 from SEIU Healthcare Illinois/Indiana PAC.

The SEIU is a public employees union that is closely linked with the troubled ACORN organization and SEIU Local 880 is close to ACORN, indeed. In fact, on the Local’s webpage you can see an email address it lists for contact info that settles the question. That email happens to be seiu880@acorn.org.
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Ill. GOP Minority Leader in Bed With Criminal ACORN?”


A Million People Prove NPR Doesn’t Count

-By John Armor

How many people still listen to NPR (National “People’s” Radio) and take it seriously? Apparently that list doesn’t include the editors and reporters for NPR. Two cases in point, both having to do with numbers.

As I was driving up to D.C. for the Rally on the Mall on Saturday, I heard NPR gushing over (excuse me, reporting on) the President Obama’s speech to a Joint Meeting of Congress. In that speech, the President said that “there are 30 million uninsured Americans.” Notice that the number dropped from 45 million because that part of the uninsured are not Americans. They are mostly citizens of Mexico.

The polling of the American people on health care reform has made it crystal clear they do not want American tax dollars paying premiums for foreign citizens. Remember that Cong. Joe Wilson called out, “You lie,” when President Obama was claiming that health care “reform” did not include the illegal aliens. Joe should certainly apologize for interrupting the President, with a true statement.
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A Million People Prove NPR Doesn’t Count”


Brit Hasn’t a Clue About U.S. Politics

-By Warner Todd Huston

Many elitist American leftists like to go about claiming that it is only Americans that are dunces on foreign matters. There is some truth to the accusation that Americans are not knowledgeable about the rest of the world but if a column in the UK Telegraph is any indication it isn’t much better for Britain’s understanding of American politics. Worse, it is plain that even a British journalist hasn’t a clue what he’s on about when attempting to discuss the differences between a Democrat and Republican in today’s climate.

At issue is the incredibly garbled take on American Democrats and Republicans as posted by U.K. Telegraph writer David Lindsay, who claims himself to be a “freelance writer and tutor at Durham University.” One wonders why he doesn’t get a real job.

In “Why real American conservatives should register as Democrats,” Lindsay’s main point seems to be that Republicans really support what the Democratic Party supports and so GOP voters should resign from their party and join the left side of the aisle. But Lindsay’s reasons prove that he doesn’t know a thing about what he’s talking about.
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Brit Hasn’t a Clue About U.S. Politics”


Poll: 45% of Docs Would Quit Under Obamacare

-By Warner Todd Huston

Recently Investor’s Business Daily published the results of a poll that found that an astonishing 45% of doctors polled would rather quit the medical field than suffer under Obamacare.

This is in stark contrast to recent news that a majority of physicians support Obama’s healthcare “reform” policies. IBD disputes this poll and also points out that a recent L.A. Times story that trumpets the American Medical Association’s approval of the so-called public option is based on a group that only represents 18% of American doctors.

The major finds of the IBD poll are:
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Poll: 45% of Docs Would Quit Under Obamacare”


Paper Editor: Conservative Writers Resort to ‘Cheap Personal Attacks on Obama’

-By Warner Todd Huston

I guess we know what the editor of the Montana Standard of southwestern Montana thinks about conservative members of the media; he doesn’t think much of them.

In the Standard’s announcement of the addition of columnist Byron York for a-once a-week column, Editor Gerry O’Brien was excited to tell his readers about their newest conservative columnist with some lovely praise of York’s style. York, O’Brien says, is wonderful because he doesn’t resort to “cheap personal attacks on President Obama” like all those other conservative columnists.

York, a staunch conservative, presents his arguments in a thoughtful, measured fashion, rather than resorting to cheap personal attacks on President Obama and others in the Democratic Party that seem to be the hallmark of the GOP these days, said Standard Editor Gerry O’Brien.

Well, there you have it. I guess we should be glad that Byron isn’t like his conservative brethren, eh?

It is also interesting to note that Editor O’Brien doesn’t seem all too concerned that folks can so easily come to understand that he is a partisan sort of fellow himself. So much for a newspaper that is non-partisan and only interested in the news.
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Paper Editor: Conservative Writers Resort to ‘Cheap Personal Attacks on Obama’”


Dem. Rockefeller Says Baucus Plan Raises Taxes on Middle Class

-By Warner Todd Huston

Senator Jay Rockefeller (D-W.V.) says that the newly released healthcare plan crafted by Senator Max Baucus (D- Mon.) will raise taxes on the middle class. Imagine that, one Democrat accusing another of raising taxes. These are strange and wondrous times, indeed.

The Baucus plan features new taxes on so-called high-end healthcare plans obtained through employers. Beginning in 2013, a 35 percent excise tax on insurance companies for “high-cost plans” will be instituted. These “high-cost plans” are “defined as those above $8,000 for individuals and $21,000 for family plans.”

This tax will be levied on the whole cost of the plan, not just the part that the employees pay.
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Dem. Rockefeller Says Baucus Plan Raises Taxes on Middle Class”


Charlie Rangel: Obamacare Doesn’t Spend Enough Money

-By Warner Todd Huston

Not enough money is being thrown around to “fix” things; that’s always the liberal’s lament. Representative Charlie Rangel (D, NY) doesn’t disappoint by shying from this big government, money wasting attitude where it concerns Obamacare, either.

Obama has announced his determination not to sign a bill that adds “one dime” to the deficit and he’s also said that “his” bill will feature a low, low $900 billion price tag. Both of these Obama points seem to be vexing Rep. Rangel because, well, it’s just not enough.

Rangel complained to reporters about Obama’s “restrictions” and said that the president’s policy druthers would reduce coverage for “poor and working people.” He complained that it would be “very difficult” to achieve Obama’s prescriptions and said that Obama’s cost estimate was $100 billion too low.

So, Rangel wants more money thrown at it. In a time when our economy is struggling, Rangel wants to throw hundreds of millions of dollars at Obamacare.
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Charlie Rangel: Obamacare Doesn’t Spend Enough Money”


Political Science 101: Power Breeds Corruption

-By Nancy Salvato

Chicago is known as “The Windy City” not because it is windy (although anyone who tries to use an umbrella during a heavy rain in the Loop knows how difficult that can prove) but because of the blowhard politicians it has produced throughout the centuries. Chicago’s scandalous history of political corruption began in the l9th century around the time of the Chicago Fire continuing through today, most notably, Governor Blagojevich’s attempt to “sell” President Obama’s Senate seat. Political malfeasance doesn’t begin and end in Illinois, though. Other states have equal or worse reputations.

The Wall Street Journal, in an article titled, A Swamp of Corruption, noted that “Louisiana ranks third in the nation in the number of elected officials per capita convicted of crimes (Mississippi takes top prize).” Paging through the list of politicians on the take is like reading a who’s who in the society pages. Most recently, former Democratic Louisiana congressman, Rep. William Jefferson, was convicted by a federal jury, “of taking bribes on 11 of 16 counts in a case in which agents found $90,000 in his freezer.” Corruption is not unique to what is referred to the modern era in our history.
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Political Science 101: Power Breeds Corruption”


Health Insurance is Not Like Auto Insurance

-By Warner Todd Huston

During his healthcare speech last week, President Obama tried to compare his idea of compulsory health insurance to the practice of mandatory auto insurance now in effect in most of the States of the Union.

But as a recent Fox News piece by Judson Berger proves, car insurance is nothing like forced healthcare insurance. The main reason the two do not compare well is that mandatory auto insurance covers other people, not the driver. But forced healthcare insurance covers the individual, not any indemnity against the individual’s actions against others.

Additionally, there isn’t anything truly compulsory about mandatory auto insurance. After all, it isn’t mandatory that one drive. If you don’t want to pay for the insurance, don’t drive. Additionally, there is no compulsion to pay for insurance that covers yourself or your car.

On the other hand, compulsory health insurance is far more intrusive than mandatory car insurance. It cannot be avoided without penalty of law, it is not a safety measure to cover others for your own negligence, it can’t be avoided even by moving to another state and it most certainly is un-Constitutional.
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Health Insurance is Not Like Auto Insurance”


Is Union Favored Legislation ‘Racist’?

-By Warner Todd Huston

Professor Harry G. Hutchison of George Mason University recently took a look at the union favored Employee Free Choice Act (EFCA) and made a startling conclusion. He believes it will harm minorities.

Saying that the EFCA is “arguably the most transformative piece of labor legislation” since 1935, Hutchinson warns that it will seriously harm the rights of workers and the status of minorities alike.

To start, Hutchinson summed up the provisions of the bill.

One of the newest attempts to transform labor relations is the EFCA. The first to disappear under the EFCA would be a system of union democracy whereby unions could only obtain the rights of exclusive representation for firms if they could prevail in a secret-ballot election. Second, the EFCA would eliminate the necessity of a freely negotiated collective bargaining agreement between management and labor and instead substitute compulsory arbitration.

The results of these provisions, though, would prove disastrous as far as Hutchinson is concerned.
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Is Union Favored Legislation ‘Racist’?”


I am Loath to Call Americans Stupid, But…

-By Warner Todd Huston

When I see the elitists on the left hold themselves up as being smarter than everyone they survey I am always offended. My American can-do spirit is assaulted by such an elitist opinion. It disgusts me when leftists assume that Americans are stupid. I refuse to accept such an assessment. But then there are stories like this…

Apparently when the House of Representatives voted to admonish Rep. Joe Wilson (R-S.C.), now famous for calling out that Obama was a liar during his recent healthcare speech, Americans all across the country rushed to their computers and did some research.

Were they looking up arcane House rules of conduct? How about the names of various elected officials? Maybe they were looking up political history?

Uh, no.
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I am Loath to Call Americans Stupid, But…”


Paper: S.C. ‘Flooded’ With Emails Over Rep. Wilson, All 147 Of Them

-By Warner Todd Huston

The Sun News, a McClatchy owned paper in Myrtle Beech, South Carolina, was excited to tell its readers that the state’s tourism officials were getting “flooded” with emails from folks upset and threatening to cancel future vacations in South Carolina. What raised the ire of these emailers was the behavior of Representative Joe Wilson (R, SC) who called out that Obama was a liar during the president’s healthcare speech delivered before a joint session of Congress last week.

In its first two paragraphs, the Sun News made it seems as if an avalanch of folks had emailed state officials expressing their outrage.

State and local tourism officials are being flooded by e-mails and calls from people across the country, who say they won’t vacation in South Carolina because they’re upset by Rep. Joe Wilson’s outburst at President Obama.

A number of the out-of-state e-mailers have said they’ve taken beach trips for years in Myrtle Beach, Hilton Head and other resort areas, but don’t plan to return, officials said.

The story goes on to rehash the whole Wilson “liar” incident assuming that all kinds of tourists are turning against South Carolina vacations because of Wilson’s conduct.
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Paper: S.C. ‘Flooded’ With Emails Over Rep. Wilson, All 147 Of Them”


Talk Show Host Michael Savage’s Website Attacked by Hackers

-By Selwyn Duke

A little while back, talk show host Michael Savage had to endure an attack on his character when the British government associated him with terrorists and other criminals and banned him from traveling to the U.K. But on Saturday, August 22 the attack — or at least an attack — was brought to his own shores when a computer hacker damaged his website by sneaking into its server through a feedback portal, forcing technicians to shut it down for nearly an hour.

The attack came on the heels of sharp criticism leveled at the U.K. by Savage over its release of Lockerbie bomber Abdel Baset al-Megrahi, prompting the host to speculate that the British government might have ordered the hacking effort in retaliation. Drew Zahn writes of Savage’s suspicions at WorldNetDaily.com:

“Why on the day of the worldwide furor over the release of the Lockerbie Bomber by [British Prime Minister] Gordon Brown would Michael Savage’s website be hacked?” the radio host posited. “We cannot say who did this, but would it not be a possibility that the Brits themselves ordered this hack-attack?

“Why?” Savage asked WND. “Because the evidence that they placed me on this list with real murderers and terrorists was a political favor to some Islamic nation can be found in the recently discovered e-mails, hidden until now by the Gordon Brown government. Their own e-mail chain on banning Savage states, ‘There is no evidence of Savage advocating or inciting violence,’ yet, by including Savage on this banned list it would ‘help provide a balance of types of exclusion cases,’ in other words, the list would not only contain radical Muslims but also a white male conservative.”

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Talk Show Host Michael Savage’s Website Attacked by Hackers”


“Systemic Risk Laundering” — Financial Crisis Root Causes — Part II

-By Scott Cleland

How could American taxpayers get stuck with a multi-trillion dollar tab that they weren’t even aware that they were running up? How could that huge tab still be allowed to run up unchecked today? For the Financial Crisis Inquiry Commission, the sad answer is one of the biggest root causes of last fall’s devastating financial crisis and one of the biggest continuing systemic risks to the financial system and the economic recovery.

A decade ago, in what may prove to be the most expensive bipartisan legislative mistake in U.S. history, a bipartisan policy became law that effectively ensured that no Federal regulator had oversight or enforcement jurisdiction over derivative financial instruments. The Commodity Futures Modernization Act of 2000 (CFMA) created “legal certainty for excluded derivative transactions.” That law allowed a shadow derivative overlay system to be built literally on top of the public financial system, with none of the inherent accountability of the underlying financial system. In other words, a deliberate bipartisan U.S. government policy change a decade ago unwittingly created an unaccountable “black hole” market that sucked enormous value out of public markets (Bear Stearns, Lehman, AIG, Fannie, Freddie, securitized sub-prime mortgages, etc.), while laundering the risk to the U.S. taxpayer.

Simply, in fostering an unaccountable marketplace that derived all its real value from public markets, the Government fostered systemic risk laundering from the unaccountable to the accountable, which ultimately left the U.S. taxpayer holding the bag. More specifically, with no accountability to fairly represent or disclose risk, too many did not. Too many figured out that they could launder huge financial risk with impunity, because most public investors assumed someone somewhere was ensuring that these derivative instruments were fairly represented, disclosed and accountable. Oops!
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“Systemic Risk Laundering” — Financial Crisis Root Causes — Part II”


Kirk Suddenly a “No” on Cap and Tax?

-By Warner Todd Huston

Rep. Mark Kirk (R, IL) has been getting hammered by conservatives and moderate Republicans alike for his “yes” vote on the Cap and Trade bill. But at a recent appearance Kirk suddenly said he now intends to vote against the disastrous bill.

The Obama administration admits that the Cap and Trade legislation will cost every American family and additional $1,761 a year and likely that is on the low side. Conservatives have slammed Kirk for supporting this economy killing carbon emissions capping legislation.

On the 5th at a suburban rally, Kirk announced his switcheroo amidst many loud boos and catcalls. “About cap and trade: I voted for it because it was in the narrow interests of my congressional district. But as your representative, representing the entire state of Illinois, I will vote ‘No’ on that bill coming up.”

Well, this sure seems like an opportunistic flip flop, doesn’t it? Now that he’s running for Senate he’s found that his cap and tax “yes” vote is proving to be an impediment to his campaign and suddenly he finds his principles again?

I guess Kirk should be congratulated for finally coming to his senses and actually representing his constituents’ desires, but the fact that he thought he could make a dash for the cash (he voted cap and tax because of donations by enviro-nazi groups) without bothering with principle or representing his constituents in the first place marks him as an opportunist of the worst sort.

Kirk’s reversal is at the three minute, ten second mark in the video:


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Kirk Suddenly a “No” on Cap and Tax?”