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Skeptical Debunker

Schwarzenegger says Obama's stimulus created jobs - Yahoo! News - 0 views

  • At a conservative gathering in Washington this week, former presidential candidate Mitt Romney blasted the $787 billion stimulus bill and asserted it did not create any new jobs. The California governor, asked about the comments on the ABC news program "This Week," said many Republican politicians were railing against the program while seeking stimulus funds for their own districts. "You have a lot of the Republicans running around and pushing back on the stimulus money and saying this doesn't create any new jobs," Schwarzenegger said. "Then they go out and they do the photo ops and they are posing with the big check and they say 'Isn't this great?'"
Skeptical Debunker

Use of DNA evidence is not an open and shut case, professor says - 0 views

  • In his new book, "The Double Helix and the Law of Evidence" (Harvard University Press), Kaye focuses on the intersection of science and law, and emphasizes that DNA evidence is merely information. "There's a popular perception that with DNA, you get results," Kaye said. "You're either guilty or innocent, and the DNA speaks the truth. That goes too far. DNA is a tool. Perhaps in many cases it's open and shut, in other cases it's not. There's ambiguity."
  • One of the book's key themes is that using science in court is hard to do right. "It requires lawyers and judges to understand a lot about the science," Kaye noted. "They don't have to be scientists or technicians, but they do have to know enough to understand what's going on and whether the statements that experts are making are well-founded. The lawyers need to be able to translate that information into a form that a judge or a jury can understand." Kaye also believes that lawyers need to better understand statistics and probability, an area that has traditionally been neglected in law school curricula. His book attempts to close this gap in understanding with several sections on genetic science and probability. The book also contends that scientists, too, have contributed to the false sense of certainty, when they are so often led by either side of one particular case to take an extreme position. Scientists need to approach their role as experts less as partisans and more as defenders of truth. Aiming to be a definitive history of the use of DNA evidence, "The Double Helix and the Law of Evidence" chronicles precedent-setting criminal trials, battles among factions of the scientific community and a multitude of issues with the use of probability and statistics related to DNA. From the Simpson trial to the search for the last Russian Tsar, Kaye tells the story of how DNA science has impacted society. He delves into the history of the application of DNA science and probability within the legal system and depicts its advances and setbacks.
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    Whether used to clinch a guilty verdict or predict the end of a "CSI" episode, DNA evidence has given millions of people a sense of certainty -- but the outcomes of using DNA evidence have often been far from certain, according to David Kaye, Distinguished Professor of Law at Penn State.
Skeptical Debunker

Leaked intelligence documents: Here's what Facebook and Comcast will tell the police ab... - 0 views

  • The "Facebook Subpoena/Search Warrant Guidelines" from the Cryptome site are dated 2008, so there's a chance they've been superseded. The document spells out how law enforcement and intelligence agenices should go about requesting information about Facebook users, and details what information is turned over. Following is what Facebook will turn over about you, taken verbatim from the guide: Types of Information Available User Neoprint The Neoprint is an expanded view of a given user profile. A request should specify that they are requesting a “Neoprint of used Id XXXXXX”. User Photoprint The Photoprint is a compilation of all photos uploaded by the user that have not been deleted, along with all photos uploaded by any user which have the requested user tagged in them. A request should specify that they are requesting a “Photoprint of user Id XXXXXX”. User Contact Info All user contact information input by the user and not subsequently deleted by the user is available, regardless of whether it is visible in their profile. This information may include the following: Name Birth date Contact e-mail address(s) Physical address City State Zip Phone Cell Work phone Screen name (usually for AOL Messenger/iChat) Website With the exception of contact e-mail and activated mobile numbers, Facebook validates none of this information. A request should specify that they are requesting "Contact information of user specified by [some other piece of contact information]". No historical data is retained. Group Contact Info Where a group is known, we will provide a list of users currently registered in a group. We will also provide a PDF of the current status of the group profile page. A request should specify that they are requesting "Contact information for group XXXXXX". No historical data is retained. IP Logs IP logs can be produced for a given user ID or IP address. A request should specify that they are requesting the "IP log of user Id XXXXXX" or "IP log of IP address xxx.xxx.xxx.xxx". The log contains the following information: * Script – script executed. For instance, a profile view of the URL http://www.facebook.com/profile.php?id=29445421 would populate script with "profile.php" * Scriptget – additional information passed to the script. In the above example, scriptget would contain "id=29445421" * Userid – The Facebook user id of the account active for the request * View time – date of execution in Pacific Time * IP – source IP address IP log data is generally retained for 90 days from present date. However, this data source is under active and major redevelopment and data may be retained for a longer or shorter period. Special Requests The Facebook Security Team may be able to retrieve specific information not addressed in the general categories above. Please contact Facebook if you have a specific investigative need prior to issuing a subpoena or warrant.
  • Comcast The Comcast document is labeled "Comcast Cable Law Enforcement Handbook," and is dated 2007, so there's a possibility that it, too, has been superseded. As with the other documents, it explains how law enforcement agenices can get information, and details what information is available. There's a great deal of detail in the 35-page document, which describes what Internet, phone, and television information will be turned over. For example, here's the IP information it will make available: Comcast currently maintains Internet Protocol address log files for a period of 180 days. If Comcast is asked to respond for information relating to an incident that occurred beyond this period, we will not have responsive information and can not fulfill a legal request. (Comcast can process and respond to preservation requests as outlined below in this Handbook.) As expected, Comcast will also turn over the emails, including attachments, of those who use Comcast's email service, but "In cases involving another entity’s email service or account, Comcast would not have any access to or ability to access customer email in response to a legal request." Information Comcast turns over to law enforcement agencies varies according to the request. For example, a grand jury subpoena will yield more information than a judicial summons, as you can see in the excerpt below. Comcast notes, though, that this is just a sample, and that "Each request is evaluated and reviewed on a case by case basis in light of any special procedural or legal requirements and applicable laws." So the examples "are for illustration only."
  • For those who worry about privacy, though, all of this information is small potatoes. The real worry is about the use of what are called pen registers or trap-and-trace devices, which essentially capture all of your Internet activity --- the Web sites you visits, the emails you send and receive, IM traffic, downloads, and so on. Here's what the document says about them: Pen Register / Trap and Trace Device Title 18 U.S.C. § 3123 provides a mechanism for authorizing and approving the installation and use of a pen register or a trap and trace device pursuant to court order. All orders must be coordinated prior to submission to Comcast. Law enforcement will be asked to agree to reimburse Comcast's reasonable costs incurred to purchase and/or install and monitor necessary equipment. See "Reimbursement," below.
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  • As for your voice calls made via Comcast, here's what the company will turn over: Call Detail Records - Comcast maintains two years of historical call detail records (records of local and long distance connections) for our Comcast Digital Voice telephone service. This includes local, local toll, and long distance records. Comcast also currently provides traditional circuit-switched telephone service branded Comcast Digital Phone. Call detail records for this service are collected by AT&T and are available for approximately two years as well. To determine which type of service is involved, contact the Legal Demands Center—Voice and Video at 800-871-6298. Account Records - Account records are generally stored for approximately two years after the termination of an account. If the account has an outstanding balance due, records may be retained for a longer period of time. As with Internet information, what phone information will be turned over depends on the specific kind of legal request, and the examples "are for information only." Here's an excerpt:
  • And, as you would expect, there is the same pen register/trap-and-trace device language as in the section about the Internet. Oddly enough, it appears that when it comes to information about your television viewing habits, you have more privacy rights than you do when it comes to information about your Internet and voice use, because it can only be turned over in response to a court order, not a subpoena. Here's what the document has to say about TV information: Subscriber Account Identification and Related Records For subscribers to our cable television service, the Cable Act requires Comcast as a cable operator to disclose personally identifiable information to a governmental entity solely in response to a court order (and not, for example, a subpoena) or with the subscriber's express written consent. The Cable Act requires that the cable subscriber be afforded the opportunity to appear and contest in a court proceeding relevant to the court order any claims made in support of the court order. At the proceeding, the Cable Act requires the governmental entity to offer clear and convincing evidence that the subject of the information is reasonably suspected of engaging in criminal activity and that the information sought would be material evidence in the case. See 47 U.S.C. § 551(h). Why does the law give you more privacy protection over your television viewing habits than your Internet or phone use? I haven't a clue --- ask your congressman.
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    Wonder what information Facebook and Comcast will turn over to police and intelligence agencies about you? Cryptome, the site that last week posted the leaked Microsoft "spy" manual, has posted company documents that purport to describe what those companies will reveal about you. As with the Microsoft document, the information is eye-opening.
Skeptical Debunker

Op-Ed Columnist - Senator Bunning's Universe - NYTimes.com - 0 views

  • During the debate over unemployment benefits, Senator Jeff Merkley, a Democrat of Oregon, made a plea for action on behalf of those in need. In response, Mr. Bunning blurted out an expletive. That was undignified — but not that different, in substance, from the position of leading Republicans.Consider, in particular, the position that Mr. Kyl has taken on a proposed bill that would extend unemployment benefits and health insurance subsidies for the jobless for the rest of the year. Republicans will block that bill, said Mr. Kyl, unless they get a “path forward fairly soon” on the estate tax. Now, the House has already passed a bill that, by exempting the assets of couples up to $7 million, would leave 99.75 percent of estates tax-free. But that doesn’t seem to be enough for Mr. Kyl; he’s willing to hold up desperately needed aid to the unemployed on behalf of the remaining 0.25 percent. That’s a very clear statement of priorities.So, as I said, the parties now live in different universes, both intellectually and morally. We can ask how that happened; there, too, the parties live in different worlds. Republicans would say that it’s because Democrats have moved sharply left: a Republican National Committee fund-raising plan acquired by Politico suggests motivating donors by promising to “save the country from trending toward socialism.” I’d say that it’s because Republicans have moved hard to the right, furiously rejecting ideas they used to support. Indeed, the Obama health care plan strongly resembles past G.O.P. plans. But again, I don’t live in their universe. More important, however, what are the implications of this total divergence in views?The answer, of course, is that bipartisanship is now a foolish dream. How can the parties agree on policy when they have utterly different visions of how the economy works, when one party feels for the unemployed, while the other weeps over affluent victims of the “death tax”?Which brings us to the central political issue right now: health care reform. If Congress enacts reform in the next few weeks — and the odds are growing that it will — it will do so without any Republican votes. Some people will decry this, insisting that President Obama should have tried harder to gain bipartisan support. But that isn’t going to happen, on health care or anything else, for years to come.Someday, somehow, we as a nation will once again find ourselves living on the same planet. But for now, we aren’t. And that’s just the way it is.
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    So the Bunning blockade is over. For days, Senator Jim Bunning of Kentucky exploited Senate rules to block a one-month extension of unemployment benefits. In the end, he gave in, although not soon enough to prevent an interruption of payments to around 100,000 workers.But while the blockade is over, its lessons remain. Some of those lessons involve the spectacular dysfunctionality of the Senate. What I want to focus on right now, however, is the incredible gap that has opened up between the parties. Today, Democrats and Republicans live in different universes, both intellectually and morally.
Skeptical Debunker

Prudential-AIG Deal Another Case of Corporate Empire Building - 0 views

  • In spite of its new whizz-bang CEO, Prudential is a slow-moving but very reliable organization with a level of integrity that is trusted by policyholders. Frankly, that's what you want in an insurance company. I have had a modest U.K. pension with one of its competitors since 1980, and I am constantly worried that some leveraged buyout (LBO) artist will step in, take it over, change the computer system so that information gets lost, outsource customer service, and drive the company into bankruptcy. If you're buying life insurance or pension services, you want a company that's not going to disappear in the next 30 years, and doesn't change its address or computer system too often. Avoid a company like the plague if it is run by whiz kids. However, that's what AIG was like. We know how AIG operated; a guy who thought betting the ranch on the credit default swap market was a good idea ran it. Its Asian operation is no doubt full of similarly clever ideas. Even in the unlikely event that everything there is on the level, the cultural clash with an old-fashioned British insurance company is huge. And why would you pay a PREMIUM for an AIG operation? Like the Kraft/Cadbury deal, Prudential's takeover of AIA is value-destroying. Also like Kraft/Cadbury, it looks likely to destroy a valuable part of the British economy that millions of people have relied upon for generations - only this time the destruction will be caused by the buyer rather than the target. As shareholders we need a new form of corporate governance. Those in management are hired hands. In the old days, large shareholders used to treat management as they would have treated their butler - and management was equally deferential to the owners of substantial percentages of the company's capital. That's how capitalism is supposed to work - with resources deployed in the interests of the owners of capital. We know that system works; economics shows us why it works. The alternative, with resources deployed to satisfy the egos and fill the pockets of the hired hands, has no theoretical justification and little practicality - just as a big country house run in the interests of the butler would be a mess. As capitalists, we must work together to restore capitalism!
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    To inattentive observers, the recent announcement that the British insurance company Prudential PLC (NYSE ADR: PUK) would pay $35.5 billion for American International Group Inc.'s (NYSE: AIG) Asian insurance operation, AIA, might seem like just another belated expansion of the old British Empire - a strange contrast to the sale of the premier British chocolate company Cadbury PLC (NYSE ADR: CBY) to Kraft Foods Inc. (NYSE: KFT) last month. Yet in reality both deals are examples of Empire-building that for shareholders is much more dangerous than the benign British variety - Empire-building by corporate management that runs contrary to capitalist ideals.
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    Monopolies - BAD (Adam Smith even said so!) Companies controlled and run by management (as if it were their own personal fiefdom and with their hands always in the "cookie jar"), rather than shareholders - BAD. BOTH ANTI-CAPITALISTIC. Both the "norm" for "the titans" of "modern [anti] capitalism". We no longer have capitalism (if that, like communism, ever existed in a more or less "pure" form!). We have a kleptocracy of the rich and corporate aristocracy (as incestuously intertwined as the European nobles ever were!).
Skeptical Debunker

Pliocene Hurricaines - 0 views

  • By combining a hurricane model and coupled ocean-atmosphere general circulation model to investigate the early Pliocene, Emanuel, Brierley and co-author Alexey Fedorov observed how vertical ocean mixing by hurricanes near the equator caused shallow parcels of water to heat up and later resurface in the eastern equatorial Pacific as part of the ocean wind-driven circulation. The researchers conclude from this pattern that frequent hurricanes in the central Pacific likely strengthened the warm pool in the eastern equatorial Pacific, which in turn increased hurricane frequency — an interaction described by Emanuel as a “two-way feedback process.”�The researchers believe that in addition to creating more hurricanes, the intense hurricane activity likely created a permanent El Nino like state in which very warm water in the eastern Pacific near the equator extended to higher latitudes. The El Nino weather pattern, which is caused when warm water replaces cold water in the Pacific, can impact the global climate by intermittently altering atmospheric circulation, temperature and precipitation patterns.The research suggests that Earth’s climate system may have at least two states — the one we currently live in that has relatively few tropical cyclones and relatively cold water, including in the eastern part of the Pacific, and the one during the Pliocene that featured warm sea surface temperatures, permanent El Nino conditions and high tropical cyclone activity.Although the paper does not suggest a direct link with current climate models, Fedorov said it is possible that future global warming could cause Earth to transition into a different equilibrium state that has more hurricanes and permanent El Nino conditions. “So far, there is no evidence in our simulations that this transition is going to occur at least in the next century. However, it’s still possible that the condition can occur in the future.”�Whether our future world is characterized by a mean state that is more El Nino-like remains one of the most important unanswered questions in climate dynamics, according to Matt Huber, a professor in Purdue University’s Department of Earth and Atmospheric Sciences. The Pliocene was a warmer time than now with high carbon dioxide levels. The present study found that hurricanes influenced by weakened atmospheric circulation — possibly related to high levels of carbon dioxide — contributed to very warm temperatures in the Pacific Ocean, which in turn led to more frequent and intense hurricanes. The research indicates that Earth’s climate may have multiple states based on this feedback cycle, meaning that the climate could change qualitatively in response to the effects of global warming.
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    The Pliocene epoch is the period in the geologic timescale that extends from 5 million to 3 million years before present. Although scientists know that the early Pliocene had carbon dioxide concentrations similar to those of today, it has remained a mystery what caused the high levels of greenhouse gas and how the Pliocene's warm conditions, including an extensive warm pool in the Pacific Ocean and temperatures that were roughly 4 degrees C higher than today's, were maintained. In a paper published February 25 in Nature, Kerry Emanuel and two colleagues from Yale University's Department of Geology and Geophysics suggest that a positive feedback between tropical cyclones - commonly called hurricanes and typhoons - and the circulation in the Pacific could have been the mechanism that enabled the Pliocene's warm climate.
Skeptical Debunker

Ravitch Offers Passionate Defense of America's Public School System - March 2, 2010 - T... - 0 views

  • No silver bullets. This is the simple premise of Diane Ravitch’s new book, “The Death and Life of the Great American School System,” which is being brought out this week by Basic Books. Written by one of our nation’s most respected scholars, it has been eagerly awaited. But it has also been, at least in some quarters, anticipated with a certain foreboding, because it was likely to debunk much of the conventional — and some not so conventional — wisdom surrounding education reform. Click Image to Enlarge
  • What of the once-great comprehensive high schools, institutions with history and in some cases a track record of success going back generations? As time moves on, it is fast becoming clear that the new small schools, many with inane themes (how about the School of Peace and Diversity?), can never substitute for a good neighborhood high school, which can become a center of communal life and pride. Ms. Ravitch’s report underscores the fact that the trick is to fix the neighborhood schools beset with problems, not destroy them.
  • It is not only the foundations that Ms. Ravitch blames for the current crisis: government has also failed in the attempt to reform the schools from above, lacking a clear perspective of how schools work on a day-to-day basis. Thus, the major federal initiative, No Child Left Behind, well intentioned as it may have been, ended up damaging the quality of education, not improving it. While the federal government declares schools as “failing” and prescribes sanctions for schools not meeting its goal of “annual yearly progress,” it is the states that are allowed to write and administer the tests. This has led to a culture of ever easier tests and more test preparation rather than real instruction. More ominously, it led to such scandals as the New York State Education Department lowering the “cut scores” that define the line between passing and failing. Ms. Ravitch suggests that the proper roles of the states and federal government have been reversed under NCLB. Maybe the standards for achievement should be set in Washington, which, after all, administers the National Assessment of Educational Progress , and the solutions found at the local level, using the accurate data provided by Washington. Instead of moving in a different direction from the failed NCLB model of the Bush Administration, the Obama administration has adopted and expanded on them.
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  • Teacher-bashing, so in vogue among the “reformers” dominating the national discussion, is rejected by Mrs. Ravitch. How could the unions be responsible for so much failure when, she asks, traditionally, the highest scores in the nation are posted by strong union states such as Massachusetts (best results in the nation) and the lowest scores in the south, where unions are weak or non-existent? The mania for closing “failing” schools also comes under the Ravitch microscope. To her mind, closing schools should be reserved for the “most extreme cases.” Virtually alone among those discussing educational policy, Mrs. Ravitch appreciates the value of schools as neighborhood institutions. To her mind, closing schools “accelerates a sense of transiency and impermanence, while dismissing the values of continuity and tradition, which children, families and communities need as anchors in their lives.”
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    It turns out that "The Death and Life of the Great American School System" is a passionate defense of our nation's public schools, a national treasure that Ms. Ravitch believes is "intimately connected to our concepts of citizenship and democracy and to the promise of American life." She issues a warning against handing over educational policy decisions to private interests, and criticizes misguided government policies that have done more harm than good. Ideas such as choice, utilizing a "business model" structure, accountability based on standardized tests and others, some favored by the left, others by the right are deemed as less, often much less, than advertised. Ms. Ravitch doesn't oppose charters, but rather feels that the structure itself doesn't mandate success. As in conventional schools, there will be good ones and bad ones. But charters must not be allowed to cream off the best students, or avoid taking the most troubled, as has been alleged here in New York City. Here main point, however, is broader. "It is worth reflecting on the wisdom of allowing educational policy to be directed, or one might say, captured by private foundations," Ms. Ravitch notes. She suggests that there is "something fundamentally antidemocratic about relinquishing control of the public educational policy to private foundations run by society's wealthiest people." However well intended the effort, the results, in her telling, have not been impressive, in some cases doing more harm than good.
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    According to this CONSERVATIVE and BUSH Assistant Secretary of Education, "No Child Left Behind" is destroying one of the great social "glues" of America - its public school system. Of course, not only Bush and the Republicans are to blame, Democrats went along with NCLB on the "promise" of extra federal funding for implementing it AND supporting American public schools. That was funding that never materialized due to our other great national priority - making corporate cronies rich via the war in Iraq (and hoping to make the oil companies richer there as well, but apparently failing miserably to do so ... so far). NCLB could have been suspended when that happened, but strangely (NOT!) Bush and the Republican controlled Congress conveniently forgot their promise (perhaps because NCLB unfunded was more like no teachers union left un-destroyed!?). More from http://articles.latimes.com/2010/feb/28/entertainment/la-ca-diane-ravitch28-2010feb28 on this book - Diane Ravitch, probably this nation's most respected historian of education and long one of our most thoughtful educational conservatives, has changed her mind -- and changed it big time. Ravitch's critical guns are still firing, but now they're aimed at the forces of testing, accountability and educational markets, forces for which she was once a leading proponent and strategist. As President Obama and his education secretary, Arne Duncan, embrace charter schools and testing, picking up just where, in her opinion, the George W. Bush administration left off, "The Death and Life of the Great American School System" may yet inspire a lot of high-level rethinking. The book, titled to echo Jane Jacobs' 1961 demolition of grandiose urban planning schemes, "The Death and Life of Great American Cities," has similarly dark warnings and equally grand ambitions. Ravitch -- the author of "Left Back" and other critiques of liberal school reforms, an assistant secretary of education in the first Bush administration and a
Skeptical Debunker

Bankers winning financial reform battle - Answer Desk- msnbc.com - 0 views

  • Proponents of comprehensive regulatory reform hope for sweeping measures to protect consumers from predatory lending, rein in high-stakes Wall Street trading in arcane derivatives, boost capital requirements for banks that want to bet big with depositors' money and spread some regulatory sunshine on the dark pools of the “shadow banking system” that caught regulators flat-footed when the market spiraled into the abyss in the fall of 2008. “We cannot afford to let the status quo continue,” Sheila Bair, head of the Federal Deposit Insurance Corp., told a meeting of business economists in Washington. The final law is still in doubt. Sen. Christopher Dodd, D-Conn., has pressed for reform during a year of intensely partisan bickering. On Friday, Dodd — a lame duck who announced his retirement after disclosures that he accepted favorable terms from subprime lender Countrywide Financial — claimed that the Senate Banking Committee he chairs was “days away” from wrapping up a bill. Any resolution faces a major political hurdle that has drawn the most public attention: a proposal to create a new agency to protect consumers from predatory lending and other abusive financial practices. While the "systemic risks" to the financial system may represent a bigger threat in dollar terms, voters might be more focused on the consumer impact.Dodd said that’s not hard to understand.“The subject matter of derivatives and swaps and the issue of systemic risk and too-big-to- fail seem somewhat removed from the general public,” he told CNBC after the Senate compromise was reached. “Watching my credit card go to 32 percent rates and huge fees, watching prepayment penalties on mortgages, these are things that millions of people understand.”
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    As Congress this week inches toward a new set of rules to avert another global financial collapse, it is focused on two conflicting goals: reforming the banking system to protect consumers while still giving lenders the freedom to take risks. So far the score looks like: Bankers 1, Consumers 0. More than a year after a wave of risky mortgage bets brought Wall Street to its knees, banks and other financial institutions are still playing by the same rules that got them into the mess.
rich hilts

Democrats - Go Ahead - Screw With The Filibuster! - 1 views

shared by rich hilts on 03 Jan 11 - No Cached
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    Boy oh boy, Chuckie and Harry and the boys from the left are about to make a big mistake - one wonders? Should we cheer them on?
Sarah Eeee

Income Inequality and the 'Superstar Effect' - NYTimes.com - 0 views

  • Yet the increasingly outsize rewards accruing to the nation’s elite clutch of superstars threaten to gum up this incentive mechanism. If only a very lucky few can aspire to a big reward, most workers are likely to conclude that it is not worth the effort to try.
  • It is true that the nation grew quite fast as inequality soared over the last three decades. Since 1980, the country’s gross domestic product per person has increased about 69 percent, even as the share of income accruing to the richest 1 percent of the population jumped to 36 percent from 22 percent. But the economy grew even faster — 83 percent per capita — from 1951 to 1980, when inequality declined when measured as the share of national income going to the very top of the population.
  • The cost for this tonic seems to be a drastic decline in Americans’ economic mobility. Since 1980, the weekly wage of the average worker on the factory floor has increased little more than 3 percent, after inflation. The United States is the rich country with the most skewed income distribution. According to the Organization for Economic Cooperation and Development, the average earnings of the richest 10 percent of Americans are 16 times those for the 10 percent at the bottom of the pile. That compares with a multiple of 8 in Britain and 5 in Sweden.
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  • Not coincidentally, Americans are less economically mobile than people in other developed countries. There is a 42 percent chance that the son of an American man in the bottom fifth of the income distribution will be stuck in the same economic slot. The equivalent odds for a British man are 30 percent, and 25 percent for a Swede.
  • Just as technology gave pop stars a bigger fan base that could buy their CDs, download their singles and snap up their concert tickets, the combination of information technology and deregulation gave bankers an unprecedented opportunity to reap huge rewards. Investors piled into the top-rated funds that generated the highest returns. Rewards flowed in abundance to the most “productive” financiers, those that took the bigger risks and generated the biggest profits. Finance wasn’t always so richly paid. Financiers had a great time in the early decades of the 20th century: from 1909 to the mid-1930s, they typically made about 50 percent to 60 percent more than workers in other industries. But the stock market collapse of 1929 and the Great Depression changed all that. In 1934, corporate profits in the financial sector shrank to $236 million, one-eighth what they were five years earlier. Wages followed. From 1950 through about 1980, bankers and insurers made only 10 percent more than workers outside of finance, on average.
  • Then, in the 1980s, the Reagan administration unleashed a surge of deregulation. By 1999, the Glass-Steagall Act lay repealed. Banks could commingle with insurance companies at will. Ceilings on interest rates vanished. Banks could open branches anywhere. Unsurprisingly, the most highly educated returned to banking and finance. By 2005, the share of workers in the finance industry with a college education exceeded that of other industries by nearly 20 percentage points. By 2006, pay in the financial sector was again 70 percent higher than wages elsewhere in the private sector. A third of the 2009 Princeton graduates who got jobs after graduation went into finance; 6.3 percent took jobs in government.
  • Then the financial industry blew up, taking out a good chunk of the world economy. Finance will not be tamed by tweaking the way bankers are paid. But bankers’ pay could be structured to discourage wanton risk taking
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    (Part 2 of 2 - see first part below) What impact do the incredible salaries of superstars have on the rest of us? What has changed, technologically and socially, to precipitate these inequities? This article also offers a brief look at the relationship between income inequality and economic growth, comparing the US throughout its history and the US vis a vis several European countries.
rich hilts

Going On The Offensive? - 1 views

shared by rich hilts on 03 Jan 11 - No Cached
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    Illegals are offended by us calling them illegal and this person is "campaigning" to get us to be less offensive by calling them undocumented. Unreal.
Arabica Robusta

ZCommunications | The brutal truth about Tunisia by Robert Fisk | ZNet Article - 0 views

  • For I fear this is going to be the same old story. Yes, we would like a democracy in Tunisia – but not too much democracy. Remember how we wanted Algeria to have a democracy back in the early Nineties?   Then when it looked like the Islamists might win the second round of voting, we supported its military-backed government in suspending elections and crushing the Islamists and initiating a civil war in which 150,000 died.
  • Indeed, what was Hillary Clinton doing last week as Tunisia burned? She was telling the corrupted princes of the Gulf that their job was to support sanctions against Iran, to confront the Islamic republic, to prepare for another strike against a Muslim state after the two catastrophes the United States and the UK have already inflicted in the region.
  • It's the same old problem for us in the West. We mouth the word "democracy" and we are all for fair elections – providing the Arabs vote for whom we want them to vote for.
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  • In Algeria 20 years ago, they didn't. In "Palestine" they didn't. And in Lebanon, because of the so-called Doha accord, they didn't. So we sanction them, threaten them and warn them about Iran and expect them to keep their mouths shut when Israel steals more Palestinian land for its colonies on the West Bank.
John StGeorge

Grilling to get tough over 'gays' in ranks - 0 views

  • may take effect only after the president, defense secretary and chairman of the Joint Chiefs of Staff certify that plans have been made to minimizing disruption and mitigating damage to morale and readiness.
    • John StGeorge
       
      This is an admission against interest that there will be disruption and damage to morale and readioness.
  • The report noted that even during a Jan. 28 briefing on plans moving forward on the change, one military expert said, "I think if something unforeseen arises, it's important to understand that each of the service chiefs – we'll do an assessment every two weeks.
    • John StGeorge
       
      Reassessment every two weeks indicates an anticipation of many "unforeseen" issues arising from the get go.
  • no House hearings at all on the findings of a Pentagon report on the subject
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  • "If servicemembers become infected with HIV due to military blood transfusions or the failuire of an HIV-positive partner to admit HIV-positive status, will that be considered a service-related disability eligible for long-term medical care?"
Kelly Bounce

Why I Like IgniteAV - 2 views

My team makes a living from organising high quality events. Our job would have been difficult without the help of IgniteAV. They, without a doubt, are the best AV hire and PA hire team we have ever...

AV hire the Obama and Glenn

started by Kelly Bounce on 31 May 11 no follow-up yet
Kelly Bounce

Capture Special Events with Ignite AV Equipment - 2 views

I love to capture events, especially the said events are oh, so, very special. With this, I really need high quality video recording equipment to capture the moment. At Ignite AV, that is not only ...

projector hire

started by Kelly Bounce on 20 Jul 11 no follow-up yet
Deed Copy

I Retrieved My Mom' Lost Property Documents - 2 views

While going through my mother's land documents, I came across a property tax receipt that I was not aware of. So I decided to check this out. But I really do not know where to start searching for t...

property deed

started by Deed Copy on 25 Jul 11 no follow-up yet
mixawy late

Rahm Emanuel, CPS chief, ministers all push for more school time - 0 views

  •  
    BY ROSALIND ROSSI AND FRAN SPIELMAN Staff Reporters August 2, 2011 8:04PM Mayor Rahm Emanuel speaking at St. Sabina after going door to door to promote student attendance on the first day of the CPS school year in the 7800 block of Throop.
David Corking

Replace Police With Spin Doctors « POLICE INSPECTOR BLOG - 0 views

  • testing an age old theory about what happens when you approach a 6ft riot cop and tell him to fuck off repeatedly?
  • I blame Globalisation. Lets test this theory by choosing six other countries in the world, going over to each country one at a time, walking up to a riot cop and telling him to fuck off repeatedly. Compare injuries on return to UK. If you return to UK.
  • Will this person now be arrested for verbally abusing a Police Officer? If not, why not?
  • ...7 more annotations...
  • canteen culture of the mindless violence of the few backed up by the silence of the many.
  • As an A+E nurse would it be right for me to strike each and every member of the public if and when the became aggressive?
  • The Police should be held to a higher standard than other services, surely you are trained professionals and as such should be able to deal with the provacation in a much more proportional way?
  • it was against their clients human rights to be filmed with out their consent
  • When it’s not practical for you to be arrested because it would take police resources away from the lines then you deserve to get a shove. If you come back, then you deserve to be struck (something home office approved).
  • You ARE PROFESSIONALS and this kind of insta-agression is something that the public could gain at a fraction of the cost from a security guard. No one is denying that being a police officer is a difficult job at times
  • Sadly people are people, maybe he was wrong to hit her, she was maybe wrong for confronting him in the first place. All I can say that is if a uniformed officer tells me not to do something I don’t do it. Full stop.
  •  
    Other countries are worse. So? The rest of us would be jailed for assault if we hit someone with a stick in response to extreme provocation.
David Corking

In place of smear | Ed Mayne | LabourList.org | April 2009 - 0 views

  • But if he hadn't done it, someone else would have got there eventually. It's up to all of us now to stop this happening again. Some people tell me that blogging is the future of politics. If this is the case, I very much hope it gets more mature with its increasing importance.
  • We can all agree that censorship is not the route to go down. Therefore all political parties and all press and media outlets have a responsibility to regulate themselves
  •  
    Mayne fears that blogs have dragged politics into the gutter and threaten democracy. I hope not, but I'll wait for more evidence.
David Corking

Kimberley Strassel Says the British Conservative Party Is No Example for the GOP - WSJ.... - 0 views

  • The next election will instead be a referendum on a worn-out Labour movement. If Conservatives win, it will be because the party has made itself less offensive to the electorate than those currently in charge.
  • He instructed the party to do "social action" projects (say, helping renovate youth centers), to show it cared about ordinary Britons.
  • Beyond this bold agreement with the status quo, the party has refused to articulate its own agenda, lest any part go down badly with voters.
  •  
    Thats how it looks to me right now as well. We shall have to see what the campaign brings.
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