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Bakari Chavanu

Quiz on U.S. Currency - 0 views

    • Bakari Chavanu
       
      Coins, not paper, is produced by the Mint. All paper money is issued to the public through the banking system.
Skeptical Debunker

BBC News - Irish arrests over 'plot to kill Swedish cartoonist' - 0 views

  • The Vilks controversy arose in 2007, when his entry in an arts project was published by the newspaper. It pictured a dog with the head of a bearded man in a turban. Several Muslim countries protested against the picture. At the time, Swedish officials expressed regret at any hurt caused to Muslims' feelings, but said the government could not prevent the publication of such drawings because of media freedom rules. The case came about a year and a half after a series of depictions of Muhammad in Denmark's Jyllands-Posten paper caused an uproar in early 2006. Those cartoons sparked protests from Muslims around the world. Dozens of people were killed in riots. Muslims regard any image of the Prophet Muhammad as blasphemy. In January, one of the cartoonists whose drawing appeared in Jyllands-Posten, the Dane Kurt Westergaard, was targeted in his own home, allegedly by a Somali radical Muslim with an axe. Mr Westergaard, who escaped unharmed, had depicted the Prophet Muhammad with a bomb in his turban. Mr Vilks told The Associated Press news agency that the telephone threats in January had come from "a Swedish-speaking Somali. He reminded me about what had happened to Westergaard and threatened with a follow-up and that 'now it's your turn'."
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    Seven people have been arrested in the Irish Republic over an alleged plot to kill a Swedish cartoonist for depicting the Prophet Muhammad, police say. The four men and three women are all Muslim immigrants, according to media reports, though a police statement did not confirm this. Cartoonist Lars Vilks had depicted the Prophet Muhammad with the body of a dog in the Nerikes Allehanda newspaper. Islamic militants put a $100,000 (£67,000) bounty on his head. Mr Vilks was quoted as saying he was unfazed by the arrests, which he said he thought could be linked to two death threats he had received by telephone in January.
Skeptical Debunker

Gary Gensler's Conversion to Financial Reformer - NYTimes.com - 0 views

  • Today, he is emerging as one of the nation’s archreformers, pushing to impose some of the most stringent new financial regulations in history. And as the head of the Commodity Futures Trading Commission, the leading contender to oversee the complex derivatives contracts that played a central role in the financial crisis and, in turn, the Great Recession, he is in a position to influence the outcome. It may seem an unlikely conversion, but it is one that has won the approval of Brooksley E. Born, of all people, a former outspoken head of the commission. She sounded alarms more than a decade ago about the dangers hiding in the poorly understood derivatives market and was silenced by the same Washington power brokers that counted Mr. Gensler as a member. Mr. Gensler opposed Ms. Born, according to people who worked at the commission in the 1990s, and in 2000 played a significant role in shepherding through Congress deregulation measures that led to explosive growth of the over-the-counter derivatives market. That was then. These days, Ms. Born is convinced of Mr. Gensler’s reformist zeal, as he takes on Wall Street in what is becoming one of the fiercest battles over regulation in the postcrisis era. “I think he is doing very well,” she said in an interview. “He certainly seems to be committed to robust oversight of derivatives and limiting excessive speculation and leverage.” The proposals championed by Mr. Gensler, if adopted by Congress, would substantially alter what is now a largely unregulated market in over-the-counter derivatives, financial instruments used by companies and investors to protect themselves and bet on moves in variables, like interest rates or currencies, and to speculate. The proposals include forcing the big banks that sell derivatives to conduct their trades in the open on public exchanges and clear them through central clearinghouses, so that any investor can see the prices that dealers charge their customers. Today, those transactions are bilateral and private.
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    For 18 years, Gary G. Gensler worked on Wall Street, striking merger deals at the venerable Goldman Sachs. Then in the late 1990s, he moved to the Treasury Department, joining a Washington establishment that celebrated the power of markets and fought off regulation at almost every turn.
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    Maybe he has "SEEN THE LIGHT" (had an almost "religious" conversion to the benefits of regulation). Then again, maybe his old employer (Goldman Sachs) - having become the "biggest and baddest" in the regulation-less free-for-all (including getting bailout funds through AIG for credit-default-swap "insurance" on derivatives) - wants to "cement" their position with regulation preventing any other party from doing what they did (and he is willing to help them in that regard)!?
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    Maybe he has "SEEN THE LIGHT" (had an almost "religious" conversion to the benefits of regulation). Then again, maybe his old employer (Goldman Sachs) - having become the "biggest and baddest" in the regulation-less free-for-all (including getting bailout funds through AIG for credit-default-swap "insurance" on derivatives) - wants to "cement" their position with regulation preventing any other party from doing what they did (and he is willing to help them in that regard)!?
Skeptical Debunker

Big majority wants Wall Street regulation - U.S. business- msnbc.com - 0 views

  • A Harris release on the February 16-21 telephone survey of 1,010 adults did not specify how financial regulation should be applied but said three-quarters of Americans believe Wall Street companies should pay bonuses only while in the black.Story continues below ↓advertisement | your ad heredap('&PG=NBCMSB&AP=1089','300','250');Harris said the U.S. public does see value in Wall Street itself: nearly 60 percent say the financial sector is an essential benefit to the United States.But a slightly larger majority disagrees that what is good for Wall Street is good for the country, while about two-thirds harbor strong negative views about the people who work there.By a margin of 66 percent to 29 percent, Americans agree that "most people on Wall Street would be willing to break the law if they believed they could make a lot of money and get away with it," pollsters found.Sixty-five percent say most successful people on Wall Street do not deserve the kind of money they make.
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    An overwhelming majority of Americans wants Wall Street subjected to tougher regulation in the aftermath of the bank bailout and the bonus scandals that have rocked the U.S. financial sector, according to a Harris poll released on Thursday. The findings suggest that 82 percent of Americans want the government to clamp down more strongly on Wall Street excesses, with a particular emphasis on bonus schemes that have rewarded employees at loss-making companies such as American International Group.
Yee Sian Ng

Hoover Institution - Policy Review - Power and Weakness - 0 views

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    "IT IS TIME to stop pretending that Europeans and Americans share a common view of the world, or even that they occupy the same world. On the all-important question of power - the efficacy of power, the morality of power, the desirability of power - American and European perspectives are diverging. Europe is turning away from power, or to put it a little differently, it is moving beyond power into a self-contained world of laws and rules and transnational negotiation and cooperation. It is entering a post-historical paradise of peace and relative prosperity, the realization of Kant's "Perpetual Peace." The United States, meanwhile, remains mired in history, exercising power in the anarchic Hobbesian world where international laws and rules are unreliable and where true security and the defense and promotion of a liberal order still depend on the possession and use of military might. That is why on major strategic and international questions today, Americans are from Mars and Europeans are from Venus: They agree on little and understand one another less and less. And this state of affairs is not transitory - the product of one American election or one catastrophic event. The reasons for the transatlantic divide are deep, long in development, and likely to endure. When it comes to setting national priorities, determining threats, defining challenges, and fashioning and implementing foreign and defense policies, the United States and Europe have parted ways."
thinkahol *

Employment and the Minimum Wage-Evidence from Recent State Labor Market Trends | Economic Policy Institute - 0 views

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    Congress, a number of states, and even some cities will raise or consider raising minimum wages this year. Meanwhile, the economy is suffering what may prove to be the fourth consecutive year of a geographically widespread labor market slump, with most states facing uncertain economic situations. In this environment, the minimum wage becomes more important than ever, as a weaker labor market is unlikely to provide low-wage workers the bargaining power required to negotiate fair wages for their labor. Despite the necessity of a minimum wage that allows low-wage workers to meet basic needs, there is still strong opposition to minimum wage increases, especially from those who don't view the weak labor market as an imperative to raise minimum wages, but rather as a reason to oppose them. In particular, opponents of state-level minimum wage increases claim that these increases are the cause of weak labor markets, especially in the form of high unemployment rates. That argument, however, rests on the simplistic observation that some of the states with high minimum wages also have high unemployment rates. Without more examination, this observation is as useful in understanding state job markets as noting that joblessness has been on the rise in New York since the last time the Yankees won the World Series. It might be true, but it doesn't mean one is causing the other.
Mike Ch

Health Care Reform Part 13--Baucus Plan = Health Insurance & Big Pharma Profit Enhancement Bill - 0 views

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    The Baucus Bill has now been kicked to the curb by almost everyone who's heard anything about it. And rightly so. I'm going to kick it a little more myself, and give some specifics for doing so. In general, the Baucus bill has nothing to offer anyone, other than the health insurance industry.
Mike Ch

Health Care Reform Part 12--Lies: Cost Shifting - 0 views

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    Health Insurance Companies continue to perpetuate the fairy tale about "cost-shfting"--the notion that the cost of uncompensated care for the uninsured is "shifted" onto the backs of insurance companies and their enrollees. This is an outright lie, and a whopper at that.
real world

Karel Schwarzenberg politician in Poll - public opinion online - 0 views

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    Czech senator and former Minister of Foreign Affairs (2007-2009).
Mike Ch

Health Care Reform, Part 11--Costs: "Affordability Credits" - 0 views

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    HR 3200's costs are due almost entirely to the Affordability Credits. The language pertaining to these credits is confusing and difficult to follow--possibly by design. Unlike IRS or tax credits which are defined and have limits, these Affordability Credits, which are subsidies to Insurance Companies, have NO limits.
The Ravine / Joseph Dunphy

Another Beatty Christmas | a public defender - 0 views

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    Watch a mockery being made of due process - husband held in prison for 14 years on a civil contempt charge.
Brett Tatman

The Culmination of Liberal Incrementalism - 0 views

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    The opening words of H.R. 3200, Mr. Obama s solution to the manufactured health care quot;crisis quot; in the United States reads: quot;A Bill to provide affordable, quality health care for all Americans and reduce the growth in health care spending, and for other purposes. quot; I haven t yet heard comment by the president or by the leaders of C
mepstein

Rock the Vote: "Controlled by Nobody's Agenda But Our Own" - 0 views

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    Unfortunately for our generation, Rock the Vote is misleading the public by continuing to misrepresent our views.
thinkahol *

Cheney Was Right About One Thing: Deficits Don't Matter | Truthout - 0 views

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    "De­ficit ter­ror­ists" are gutt­ing govern­ments and forc­ing the privatiza­tion of pub­lic as­sets, all in the name of "de­ficit re­duc­tion." But de­ficits aren't ac­tual­ly a bad thing. In today's moneta­ry scheme, in which most money comes from debt, debt and de­ficits are ac­tual­ly neces­sa­ry to have a st­able money sup­p­ly. The pub­lic debt is the peo­ple's money.
Bakari Chavanu

Bernie Sanders Flirted With 100% Marginal Tax on the Rich, Maximum Wage - Bloomberg Politics - 0 views

  • “No. That's not 90 percent of your income, you know? That's the marginal.”
    • Bakari Chavanu
       
      Marginal tax is simply the amount of tax paid on an additional dollar of income. As income rises, so does the tax rate. This is different than a flat tax rate where you pay the same rate of tax no matter what your income level is.
  • Sanders is described as wanting to “make it illegal to amass more wealth than a human family could use in a lifetime.” He would do that, the article said, with “a 100 percent tax on incomes above this level ($ one million per year)” and “would recycle this money for the public need.”
  • he still had the issue on his mind while serving in the House in 1992, entering into the Congressional Record a Los Angeles Times op-ed written by Sam Pizzigati, the author of The Maximum Wage. In that piece, Pizzigati details President Franklin Delano Roosevelt’s proposal for a “100% war supertax,”
  • ...2 more annotations...
  • Pizzigati noted that there’s been momentum in recent years to cap executive salaries and bonuses but that “Sanders saw the importance of thinking about that much earlier than everybody else.”
  • Benjamin Spock, who advocated capping incomes and inheritances. Spock believed that “not only should every family of four receive a minimum income of $6,500 annually but the wealthy should be entitled to a maximum income of $50,000 and a minimum annual inheritance of $55,000,” according to a Burlington Free Press article from September of that year.
Bakari Chavanu

Bernie Sanders is the best-known independent and "democratic socialist" in US politics - Bernie Sanders 2016: a primer - Vox - 0 views

  • democratic socialist
    • Bakari Chavanu
       
      He uses this term about dozen times.
  • Since the term "socialist" is generally considered an epithet in US politics, and since the two-party system is so powerful, no other prominent politician in recent decades has a similar background
  • He said that in those countries: "Health care is a right of all people and their systems are far more cost-effective than ours." "College education is virtually free." "People retire with better benefits." "Wages that people receive are often higher." "Distribution of wealth and income is much fairer. " "Their public education systems are generally stronger than ours." "By and large, their governments tend to represent the needs of their middle class and working families rather than billionaires and campaign contributors."
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