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George Conway: Trump Is Unfit for Office - The Atlantic - 0 views

  • Behavior like this is unusual, a point that journalists across the political spectrum have made. “This is not normal,” Megan McArdle wrote in late August. “And I don’t mean that as in, ‘Trump is violating the shibboleths of the Washington establishment.’ I mean that as in, ‘This is not normal for a functioning adult.’” James Fallows observed, also in August, that Trump is having “episodes of what would be called outright lunacy, if they occurred in any other setting,” and that if he “were in virtually any other position of responsibility, action would already be under way to remove him from that role.”
  • Simply put, Trump’s ingrained and extreme behavioral characteristics make it impossible for him to carry out the duties of the presidency in the way the Constitution requires. To see why first requires a look at what the Constitution demands of a president, and then an examination of how Trump’s behavioral characteristics preclude his ability to fulfill those demands.
  • Though the Constitution’s drafters could hardly have foreseen how the system would evolve, they certainly knew the kind of person they wanted it to produce. “The process of election affords a moral certainty,” Hamilton wrote, “that the office of President will never fall to the lot of any man who is not in an eminent degree endowed with the requisite qualifications.
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  • “Talents for low intrigue, and the little arts of popularity,” might suffice for someone to be elected to the governorship of a state, but not the presidency. Election would “require other talents, and a different kind of merit,” to gain “the esteem and confidence of the whole Union,” or enough of it to win the presidency. As a result, there would be “a constant probability of seeing the station filled by characters pre-eminent for ability and virtue.” This was the Framers’ goal in designing the system that would make “the choice of the person to whom so important a trust was to be confided.”
  • In a nutshell, while carrying out his official duties, a president has to put the country, not himself, first; he must faithfully follow and enforce the law; and he must act with the utmost care in doing all that.
  • can Trump do all that? Does his personality allow him to? Answering those questions doesn’t require mental-health expertise, nor does it really require a diagnosis. You can make the argument for Trump’s unfitness without assessing his mental health: Like James Fallows, for example, you could just ask whether Trump would have been allowed to retain any other job in light of his bizarre conduct
  • More than a diagnosis, what truly matters, as Lincoln’s case shows, is the president’s behavioral characteristics and personality traits. And understanding how people behave and think is not the sole province of professionals; we all do it every day, with family members, co-workers, and others.
  • its criteria for personality disorders—they don’t require a person to lie on a couch and confess his or her innermost thoughts. They turn on how a person behaves in the wild, so to speak.
  • Donald Trump, as president of the United States, is probably the most observable and observed person in the world. I’ve personally met and spoken with him only a few times, but anyone who knows him will tell you that Trump, in a way, has no facade: What you see of him publicly is what you get all the time, although you may get more of it in private
  • accounts of a person’s behavior from laypeople who observe him might be more accurate than information from a clinical interview, and that this is especially true when considering two personality disorders in particular—what the DSM calls narcissistic personality disorder and antisocial personality disorde
  • These two disorders just happen to be the ones that have most commonly been ascribed to Trump by mental-health professionals over the past four years. Of these two disorders, the more commonly discussed when it comes to Trump is narcissistic personality disorder, or NPD—pathological narcissism
  • it touches directly upon whether Trump has the capacity to put anyone’s interests—including the country’s and the Constitution’s—above his own.
  • A certain amount of narcissism is healthy, and helpful—it brings with it confidence, optimism, and boldness. Someone with more than an average amount of narcissism may be called a narcissist. Many politicians, and many celebrities, could be considered narcissists
  • “Pathological narcissism begins when people become so addicted to feeling special that, just like with any drug, they’ll do anything to get their ‘high,’ including lie, steal, cheat, betray, and even hurt those closest to them,”
  • The “fundamental life goal” of an extreme narcissist “is to promote the greatness of the self, for all to see,
  • To many mental-health professionals, Donald Trump provides a perfect example of such extreme, pathological narcissism: One clinical psychologist told Vanity Fair that he considers Trump such a “classic” pathological narcissist that he is actually “archiving video clips of him to use in workshops because there’s no better example”
  • The goal of a diagnosis is to help a clinician guide treatment. The question facing the public is very different: Does the president of the United States exhibit a consistent pattern of behavior that suggests he is incapable of properly discharging the duties of his office?
  • Even Trump’s own allies recognize the degree of his narcissism. When he launched racist attacks on four congresswomen of color, Senator Lindsey Graham explained, “That’s just the way he is. It’s more narcissism than anything else.” So, too, do skeptics of assigning a clinical diagnosis. “No one is denying,” Frances told Rolling Stone, “that he is as narcissistic an individual as one is ever likely to encounter.” The president’s exceptional narcissism is his defining characteristic—and understanding that is crucial to evaluating his fitness for office
  • The DSM-5 describes its conception of pathological narcissism this way: “The essential feature of narcissistic personality disorder is a pervasive pattern of grandiosity, need for admiration, and lack of empathy that begins by early adulthood and is present in a variety of contexts.”
  • The diagnostic criteria offer a useful framework for understanding the most remarkable features of Donald Trump’s personality, and of his presidency. (1) Exaggerates achievements and talents, expects to be recognized as superior without commensurate achievements?
  • (2) Preoccupied with fantasies of unlimited success, power, brilliance
  • (3) Believes that he or she is “special” and unique and should only associate with other special or high-status people?
  • Trump claims to be an expert—the world’s greatest—in anything and everything. As one video mash-up shows, Trump has at various times claimed—in all seriousness—that no one knows more than he does about: taxes, income, construction, campaign finance, drones, technology, infrastructure, work visas, the Islamic State, “things” generally, environmental-impact statements, Facebook, renewable energy, polls, courts, steelworkers, golf, banks, trade, nuclear weapons, tax law, lawsuits, currency devaluation, money, “the system,” debt, and politicians.
  • (4) Requires excessive admiration? Last Thanksgiving, Trump was asked what he was most thankful for. His answer: himself, of course. A number of years ago, he made a video for Forbes in which he interviewed two of his children. The interview topic: how great they thought Donald Trump wa
  • (5) A sense of entitlement? (9) Arrogant, haughty behaviors? Trump is the man who, on the infamous Access Hollywood tape, said, “When you’re a star, they let you do it. You can do anything you want”—including grabbing women by their genitals. He’s the man who also once said, “I could stand in the middle of Fifth Avenue and shoot somebody and I wouldn’t lose any voters.”
  • (8) Envious of others? Here’s a man so unable to stand the praise received by a respected war hero and statesman, Senator John McCain, that he has continued to attack McCain months after McCain’s death;
  • (6) Interpersonally exploitative? Just watch the Access Hollywood tape, or ask any of the hundreds of contractors and employees Trump the businessman allegedly stiffed, or speak with any of the two dozen women who have accused Trump of sexual misconduct, sexual assault, or rape.
  • Finally, (7) Lacks empathy: is unwilling to recognize or identify with the feelings or needs of others? One of the most striking aspects of Trump’s personality is his utter and complete lack of empathy
  • The notorious lawyer and fixer Roy Cohn, who once counseled Trump, said that “Donald pisses ice water,” and indeed, examples of Trump’s utter lack of normal human empathy abound.
  • “It made no sense, Priebus realized, unless you understood … ‘The president has zero psychological ability to recognize empathy or pity in any way.’
  • What kind of human being, let alone politician, would engage in such unempathetic, self-centered behavior while memorializing such horrible tragedies? Only the most narcissistic person imaginable—or a person whose narcissism would be difficult to imagine if we hadn’t seen it ourselves. The evidence of Trump’s narcissism is overwhelming—indeed, it would be a gargantuan task to try to marshal all of it, especially as it mounts each and every day.
  • A second disorder also frequently ascribed to Trump by professionals is sociopathy—what the DSM-5 calls antisocial personality disorder
  • Central to sociopathy is a complete lack of empathy—along with “an absence of guilt.” Sociopaths engage in “intentional manipulation, and controlling or even sadistically harming others for personal power or gratification. People with sociopathic traits have a flaw in the basic nature of human beings … They are lacking an essential part of being human.” For its part, the DSM-5 states that the “essential feature of antisocial personality disorder is a pervasive pattern of disregard for, and violation of, the rights of others that begins in childhood or early adolescence and continues into adulthood.”
  • Trump’s sociopathic characteristics sufficiently intertwine with his narcissistic ones that they deserve mention here. These include, to quote the DSM-5, “deceitfulness, as indicated by repeated lying, use of aliases, or conning others.” Trump’s deceitfulness—his lying—has become the stuff of legend; journalists track his “false and misleading claims” as president by the thousands upon thousands.
  • Other criteria for antisocial personality disorder include “failure to conform to social norms with respect to lawful behaviors, as indicated by repeatedly performing acts that are grounds for arrest”; “impulsivity or failure to plan ahead”; and “lack of remorse, as indicated by being indifferent to or rationalizing having hurt, mistreated, or stolen from another.
  • As for impulsivity, that essentially describes what gets him into trouble most: It was his “impulsiveness—actually, total recklessness”—that came close to destroying him in the 1980s
  • And lack of remorse? That’s a hallmark of sociopathy, and goes hand in hand with a lack of human conscience. In a narcissistic sociopath, it’s intertwined with a lack of empathy. Trump hardly ever shows remorse, or apologizes, for anything. The one exception: With his presidential candidacy on the line in early October
  • In a way, Trump’s sociopathic tendencies are simply an extension of his extreme narcissism
  • articular, “They change reality to suit themselves in their own mind.” Although Trump “lies because of his sociopathic tendencies,” telling falsehoods to fool others, Dodes argues, he also lies to himself, to protect himself from narcissistic injury. And so Donald Trump has lied about his net worth, the size of the crowd at his inauguration, and supposed voter fraud in the 2016 election.
  • The latter kind of lying, Dodes says, “is in a way more serious,” because it can indicate “a loose grip on reality”—and it may well tell us where Trump is headed in the face of impeachment hearings. Lying to prevent narcissistic injury can metastasize to a more significant loss of touch with reality
  • Experts haven’t suggested that Trump is psychotic, but many have contended that his narcissism and sociopathy are so inordinate that he fits the bill for “malignant narcissism.” Malignant narcissism isn’t recognized as an official diagnosis; it’s a descriptive term coined by the psychoanalyst Erich Fromm, and expanded upon by another psychoanalyst, Otto Kernberg, to refer to an extreme mix of narcissism and sociopathy, with a degree of paranoia and sadism mixed in
  • In the view of some in the mental-health community, such as John Gartner, Trump “exhibits all four” components of malignant narcissism: “narcissism, paranoia, antisocial personality and sadism.”
  • Mental-health professionals have raised a variety of other concerns about Trump’s mental state; the last worth specifically mentioning here is the possibility that, apart from any personality disorder, he may be suffering cognitive decline.
  • His “mental state,” according to Justin A. Frank, a former clinical professor of psychiatry and physician who wrote a book about Trump’s psychology, “include[s] so many psychic afflictions” that a “working knowledge of psychiatric disorders is essential to understanding Trump.” Indeed, as Gartner puts it: “There are a lot of things wrong with him—and, together, they are a scary witch’s brew.”
  • when you line up what the Framers expected of a president with all that we know about Donald Trump, his unfitness becomes obvious. The question is whether he can possibly act as a public fiduciary for the nation’s highest public trust. To borrow from the Harvard Law Review article, can he follow the “proscriptions against profit, bad faith, and self-dealing,” manifest “a strong concern about avoiding ultra vires action” (that is, action exceeding the president’s legal authority), and maintain “a duty of diligence and carefulness”? Given that Trump displays the extreme behavioral characteristics of a pathological narcissist, a sociopath, or a malignant narcissist—take your pick—it’s clear that he can’t.
  • To act as a fiduciary requires you to put someone else’s interests above your own, and Trump’s personality makes it impossible for him to do that. No president before him, at least in recent memory, has ever displayed such obsessive self-regard
  • Indeed, Trump’s view of his presidential powers can only be described as profoundly narcissistic, and his narcissism has compelled him to disregard the Framers’ vision of his constitutional duties in every respect
  • Trump’s incapacity affects all manner of subjects addressed by the presidency, but can be seen most acutely in foreign affairs and national security.
  • All in all, Trump sought to impede and end a significant counterintelligence and criminal investigation—one of crucial importance to the nation—and did so for his own personal reasons. He did precisely the opposite of what his duties require. Indeed, he has shown utter contempt for his duties to the nation
  • hat constitutional mechanisms exist for dealing with a president who cannot or does not comply with his duties, and how should they take the president’s mental and behavioral characteristics into account?
  • it turns out that impeachment is a more practical mechanism
  • In short, now that the House of Representatives has embarked on an impeachment inquiry, one of the most important judgments it must make is whether any identified breaches of duty are likely to be repeated. And if a Senate trial comes to pass, that issue would become central as well to the decision to remove the president from office. That’s when Trump’s behavioral and psychological characteristics should—must—come into pla
  • One of the most compelling arguments about the meaning of those words is that the Framers, in Article II’s command that a president faithfully execute his office, imposed upon him fiduciary obligations. As the constitutional historian Robert Natelson explained in the Federalist Society Review, the “founding generation [understood] ‘high … Misdemeanors’ to mean ‘breach of fiduciary duty.’
  • Eighteenth-century lawyers instead used terms such as breach of trust—which describes the same thing. “Parliamentary articles of impeachment explicitly and repetitively described the accused conduct as a breach of trust,” Natelson argues, and 18th-century British legal commentators explained how impeachment for “high Crimes and Misdemeanors” was warranted for all sorts of noncriminal violations that were, in essence, fiduciary breaches.
  • why the discussion of Morris’s suggestion was so brief—the drafters knew what the words historically meant, because, as a House Judiciary Committee report noted in 1974, “at the time of the Constitutional Convention the phrase ‘high Crimes and Misdemeanors’ had been in use for over 400 years in impeachment proceedings in Parliament
  • Certainly Alexander Hamilton knew by the time he penned “Federalist No. 65,” in which he explained that impeachment was for “those offenses which proceed from the misconduct of public men, or, in other words, from the abuse or violation of some public trust.
  • What constitutes such an abuse or violation of trust is up to Congress to decide: First the House decides to bring impeachment charges, and then the Senate decides whether to convict on those charges. The process of impeachment by the House and removal by trial in the Senate is thus, in some ways, akin to indictment by a grand jury and trial by a petit jury
  • As Laurence Tribe and Joshua Matz explain in their recent book on impeachment, “the Constitution explicitly states that Congress may not end a presidency unless the president has committed an impeachable offense. But nowhere does the Constitution state or otherwise imply that Congress must remove a president whenever that standard is met … In other words, it allows Congress to exercise judgment.”
  • As Tribe and Matz argue, that judgment presents a “heavy burden,” and demands that Congress be “context-sensitive,” and achieve “an understanding of all relevant facts.” A president might breach his trust to the nation once in some small, inconsequential way and never repeat the misbehavior, and Congress could reasonably decide that the game is not worth the candle.
  • It’s also an appropriate mechanism, because the constitutional magic words (other than Treason and Bribery) that form the basis of an impeachment charge—high Crimes and Misdemeanors, found in Article II, Section 4 of the Constitution—mean something other than, and more than, offenses in the criminal-statute books. High Crimes and Misdemeanors is a legal term of art, one that historically referred to breaches of duties—fiduciary duties—by public officeholders. In other words, the question of what constitutes an impeachable offense for a president coincides precisely with whether the president can execute his office in the faithful manner that the Constitution requires.
  • there’s another reason as well. The people have a right to know, and a need to see. Many people have watched all of Trump’s behavior, and they’ve drawn the obvious conclusion. They know something’s wrong, just as football fans knew that the downed quarterback had shattered his leg. Others have changed the channel, or looked away, or chosen to deny what they’ve seen. But if Congress does its job and presents the evidence, those who are in denial won’t be able to ignore the problem any longer.
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Financial Choice Act Looms Over Fiduciary Rule's Future | Economy | US News - 0 views

  • Financial Choice Act Looms Over Fiduciary Rule's Future
  • A long-delayed Obama-era mandate requiring financial advisers to act in the best interests of their clients went into partial effect Friday, but its future remains uncertain with the previous day's passage of a regulatory-repeal bill in the House of Representatives. The so-called fiduciary rule and its "best interest" requirement that is now in effect was borne out of concern during the Obama administration that conflicts of interest in the retirement planning industry were swindling Americans out of as much as $17 billion each year.
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Springtime for Scammers - The New York Times - 0 views

  • so far his economic policies are all about empowering ethically challenged businesses to cheat and exploit the little guy.
  • In particular, he and his allies in Congress are making it a priority to unravel financial reform — and specifically the parts of financial reform that protect consumers against predators.
  • Last week Mr. Trump released a memorandum calling on the Department of Labor to reconsider its new “fiduciary rule,” which requires financial advisers to act in their clients’ best interests
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  • He also issued an executive order designed to weaken the Dodd-Frank financial reform, enacted in 2010 in the aftermath of the financial crisis.
  • Why, after all, was the fiduciary rule created? The main issue here is retirement savings — the 401(k)’s and other plans that are Americans’ main source of retirement income over and above Social Security. To invest these funds, people have turned to financial professionals — but most probably weren’t aware that these professionals were under no legal obligation to give advice that maximized clients’ returns rather than their own incomes.
  • This is a big deal. A 2015 Obama administration study concluded that “conflicted investment advice” has been reducing the return on retirement savings by around one percentage point, costing ordinary Americans around $17 billion each year. Where has that $17 billion been going? Largely into the pockets of various financial-industry players.
  • why are consumer protections in the Trump firing line?
  • Gary Cohn, the Goldman Sachs banker appointed to head Mr. Trump’s National Economic Council — populism! — says that the fiduciary rule is like “putting only healthy food on the menu” and denying people the right to eat unhealthy food if they want it. Of course, it doesn’t do anything like that. If you want a better analogy, it’s like preventing restaurants from claiming that their 1400-calorie portions are health food.
  • Mr. Trump offers a different explanation for his hostility to financial reform: It’s hurting credit availability. “I have so many people, friends of mine that had nice businesses, they can’t borrow money.” I
  • Only 4 percent of the small firms surveyed by the National Federation of Independent Business report themselves unsatisfied with loan availability, a historic low.
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Americans Aren't Saving Enough for Retirement, but One Change Could Help - NYTimes.com - 0 views

  • On average, a typical working family in the anteroom of retirement — headed by somebody 55 to 64 years old — has only about $104,000 in retirement savings
  • more than half of all American households will not have enough retirement income to maintain the living standards they were accustomed to before retirement,
  • 83 percent of baby boomers and Generation Xers in the bottom fourth of the income distribution will eventually run short of money.
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  • More than a quarter of those with incomes between the middle of the income distribution and the 75th percentile will probably run short.
  • The standard prescription is that Americans should put more money aside in investments. The recommendation, however, glosses over a critical driver of unpreparedness: Wall Street is bleeding savers dry.
  • “A greater part of the problem is the failure of investors to earn their fair share of market returns.”
  • His observation suggests a different policy prescription: shoring up Americans’ retirement requires, first of all, aligning the interests of investment advisers and their clients.
  • Actively managed mutual funds, in which many workers invest their retirement savings, are enormously costly.
  • Altogether, costs add up to 2.27 percent per year, Mr. Bogle estimates.
  • By contrast, a passive index fund, like Vanguard’s Total Stock Market Index Fund, costs merely 0.06 percent a year in all.
  • Assuming an annual market return of 7 percent, he says, a 30-year-old worker who made $30,000 a year and received a 3 percent annual raise could retire at age 70 with $927,000 in the pot by saving 10 percent of her wages every year in a passive index fund. (Such a nest egg, at the standard withdrawal rate of 4 percent, would generate an inflation-adjusted $37,000 a year more or less indefinitely.) If she put it in a typical actively managed fund, she would end up with only $561,000.
  • In 1979, almost two in five private sector workers had a defined-benefit pension that would pay out a check until they died. Today only 14 percent do. Almost one in three, by contrast, must make do with a retirement savings account alone to supplement their Social Security check.
  • nobody was paying attention to the safeguards that might be needed when corporate retirement funds managed by sophisticated professionals were replaced by individual 401(k)s and Individual Retirement Accounts.
  • “Wall Street makes no money on low-cost index funds,” said David F. Swensen, who runs the investment portfolio for Yale. “That is the problem.”
  • Harvard and colleagues from M.I.T. and the University of Hamburg sent “mystery shoppers” to visit financial advisers. They found that advisers mostly recommended investment strategies that fit their own financial interests. They reinforced their clients’ misguided biases, encouraging them to chase returns and advising against low-cost options like low-fee index funds.
  • For all their flaws, 401(k) plans have a fiduciary responsibility to act in participants’ best interest. Managers of I.R.A.s, by contrast, are not legally bound to put their clients’ interests first. They must offer “suitable” products — a much squishier standard.
  • The White House’s Council of Economic Advisers argues that “conflicted advice” by advisers who get payments from the funds they recommend reduces the annual returns to investment by 1 percentage point, a more modest penalty than Mr. Bogle’s analysis
  • In 2010, the Labor Department proposed imposing fiduciary responsibility on I.R.A. advisers. The resistance from Wall Street was so fierce that the Obama administration was forced to back down. Last month, the administration tried again.
  • Unlike regulations in Canada and some Western European countries, which have essentially banned kickbacks from funds to investment advisers, the Obama administration’s proposed rule does not directly attack conflicts of interest.
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Kings, Presidents and Foreign Subversion | Talking Points Memo - 0 views

  • After the Stuart Restoration, Charles II sought to loosen his dependence on Parliament by among other things receiving subsidies (large cash payments) from Louis XIV, King of France. The ability to supply tax revenue for impoverished Kings is basically the root of all parliamentary power in what is now the United Kingdom. At the time the King being in the pay of a foreign King wasn’t without controversy. But it didn’t seem absurd on its face, as it would to us today, because in many ways the theory was that the King owned the country.
  • But the King owned his power. His sovereignty and the bundle of powers he used to enforce it were his. Any sense of what was in the public interest or his personal interest was an irrelevancy or not even entirely comprehensible because again, he was King. He didn’t just have the powers. He owned them. In a sense he owned the whole country.
  • This is a critical backdrop to all those provisions in the US Constitution about foreign subversion and subsidies. Seen through this perspective, which is the proper one, there are numerous provisions in the Constitution meant to ensure that the President remains beholden to the Constitution and the Congress. He doesn’t own his powers.
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  • The US constitution gives the President a great deal of power. That power has been added to immensely by constitutional interpretations from the 20th century and especially those from the late 20th century tied to the President’s powers as “commander-in-chief” of the US armed forces.
  • ut the powers are real and they were a key element behind the passage of the constitution itself in 1787
  • There was a growing consensus that the Articles of Confederation that preceded them, designed in the context of extreme wariness of monarchical and executive power, simply lacked the energy and executive power to defend itself and what remained a generally weak country. A great deal of the debate in essays of ‘The Federalist’ grapple with how to make an executive potent and yet restrainable.
  • But the key through-line through the whole constitutional document is that the powers of the President are given to him or her for the specific and sole purposes of protecting the constitution, enforcing the laws and protecting the national interest. They are not owned but on loan.
  • The President is a fiduciary of the American people, much as a financial advisor or lawyer or trustee to whom you give a great deal of power but only to act on your behalf. The moment they start using the power you’ve given them to act on your behalf but rather use it to solicit money for themselves the power instantly becomes illegitimate.
  • the President has no power at all to use these powers – which are vast and on loan – to enrich himself or to retain his hold on power
  • It really is like you’re a rich person with wealth manager managing your assets and you find out they made the decision to manage your assets by giving every third dollar to themselves. But, instead of hoping a plane to Uruguay as most self-respecting crooked wealth managers might, this one said: No, this was the decision I made. My power is complete. Don’t second guess me!
  • This is why all the chatter about well Presidents do quid pro quos all the time, or they withhold aid from countries or they bargain over things with foreign leaders. Well, sure they do. But they can do that because they’re advancing what they understand to be the national interest. Your wealth manager or lawyer can make deals on your behalf but not theirs. It’s really not complicated
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In a twist, Hollywood writers are feuding with an unlikely subject: Their own agents - ... - 0 views

  • At issue are essential questions of how Hollywood should operate in a world of massive global entertainment conglomerates. Are the middlemen who unite the creative and business communities increasingly central to the birthing of ideas, and should they thus be allowed — even encouraged — to expand their role?
  • Or does such expansion amount to profiteering in contradiction of their purpose, and tasks should be limited to the specific goal of landing clients jobs?
  • the writers say agencies are sharing revenue in a highly inequitable way, leaving many creative people to fight for scraps
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  • The WGA has two main objections. The most prominent is the creation in the past few years of quasi-production entities by the agencies — like Endeavor Content, part of the same holding company as the talent agency WME (William Morris Endeavor), or Wiip, supported by CAA (Creative Artists Agency). The creation of these units, the WGA says, means that writers are basically working for their agents, a situation rife with potential conflicts
  • The WGA also says it resists the much more established practice of so-called packaging fees, in which agencies take money, both upfront from a show’s budget as well as from back-end revenue, for bringing to a writer’s project other agency clients such as actors, producers and directors and then presenting the whole package to distributors and financiers
  • Goodman said packaging fees were directly responsible for the stagnation, in part because agents collect 10 percent from the studio, reducing the pool writers draw from, in part because those fees discourage agents from fighting for higher client payments because they’re already collecting such a large slice.
  • “The system works against mid-level and lower-level writers,” he said. Goodman also noted a creatively limited consequence of high packaging fees: Agents are reluctant to find clients from another agency to work on a writer’s project because it would mean splitting the packaging fees.
  • The WGA could rely on an archaic clause in California labor code that does not allow agencies to refer people with whom the agent has a “direct or indirect financial interest.” It has also leaned on agencies’ status as fiduciaries, which require them to act loyally to a client. But a judge has yet to weigh in on whether a production arm violates that duty.
  • One historical precedent, at least, does favor the writers. In the early 1960s, the courts forced MCA, a growing music-and-representation company, to sell its agency business after buying a movie studio, Universal Pictures.
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The Dying Art of Disagreement - The New York Times - 0 views

  • Disagreement is dear to me, too, because it is the most vital ingredient of any decent society.
  • To say the words, “I agree” — whether it’s agreeing to join an organization, or submit to a political authority, or subscribe to a religious faith — may be the basis of every community.
  • But to say, I disagree; I refuse; you’re wrong; etiam si omnes — ego non — these are the words that define our individuality, give us our freedom, enjoin our tolerance, enlarge our perspectives, seize our attention, energize our progress, make our democracies real, and give hope and courage to oppressed people everywhere
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  • Extensive survey data show that Republicans are much more right-leaning than they were twenty years ago, Democrats much more left-leaning, and both sides much more likely to see the other as a mortal threat to the nation’s welfare.
  • The polarization is personal: Fully 50 percent of Republicans would not want their child to marry a Democrat, and nearly a third of Democrats return the sentiment. Interparty marriage has taken the place of interracial marriage as a family taboo.
  • Finally the polarization is electronic and digital, as Americans increasingly inhabit the filter bubbles of news and social media that correspond to their ideological affinities. We no longer just have our own opinions. We also have our separate “facts,” often the result of what different media outlets consider newsworthy
  • the more we do it, the worse we’re at it. Our disagreements may frequently hoarsen our voices, but they rarely sharpen our thinking, much less change our minds.
  • “The Closing of the American Mind.” Advertisement Continue reading the main story
  • Most importantly, they are never based on a misunderstanding. On the contrary, the disagreements arise from perfect comprehension; from having chewed over the ideas of your intellectual opponent so thoroughly that you can properly spit them out.
  • What was it that one learned through a great books curriculum?
  • As I think about it, I’m not sure we were taught anything at all. What we did was read books that raised serious questions about the human condition, and which invited us to attempt to ask serious questions of our own. Education, in this sense, wasn’t a “teaching” with any fixed lesson. It was an exercise in interrogation.
  • To listen and understand; to question and disagree; to treat no proposition as sacred and no objection as impious; to be willing to entertain unpopular ideas and cultivate the habits of an open mind — this is what I was encouraged to do by my teachers at the University of Chicago.
  • It’s what used to be called a liberal education.
  • The University of Chicago showed us something else: that every great idea is really just a spectacular disagreement with some other great idea.
  • These quarrels are never personal. Nor are they particularly political, at least in the ordinary sense of politics. Sometimes they take place over the distance of decades, even centuries.
  • I got the gist — and the gist was that I’d better enroll in the University of Chicago and read the great books. That is what I did.
  • In other words, to disagree well you must first understand well. You have to read deeply, listen carefully, watch closely. You need to grant your adversary moral respect; give him the intellectual benefit of doubt; have sympathy for his motives and participate empathically with his line of reasoning. And you need to allow for the possibility that you might yet be persuaded of what he has to say.
  • Since the 1960s it had been the vogue in American universities to treat the so-called “Dead White European Males” of the Western canon as agents of social and political oppression. Allan Bloom insisted that, to the contrary, they were the best possible instruments of spiritual liberation.
  • He also insisted that to sustain liberal democracy you needed liberally educated people.
  • According to a new survey from the Brookings Institution, a plurality of college students today — fully 44 percent — do not believe the First Amendment to the U.S. Constitution protects so-called “hate speech,” when of course it absolutely does.
  • What’s clear is that the mis-education begins early. I was raised on the old-fashioned view that sticks and stones could break my bones but words would never hurt me. But today there’s a belief that since words can cause stress, and stress can have physiological effects, stressful words are tantamount to a form of violence. This is the age of protected feelings purchased at the cost of permanent infantilization.
  • Then we get to college, where the dominant mode of politics is identity politics, and in which the primary test of an argument isn’t the quality of the thinking but the cultural, racial, or sexual standing of the person making it.
  • In recent years, identity politics have become the moated castles from which we safeguard our feelings from hurt and our opinions from challenge. It is our “safe space.” But it is a safe space of a uniquely pernicious kind — a safe space from thought, rather than a safe space for thought, to borrow a line I recently heard from Salman Rushdie.
  • Another consequence of identity politics is that it has made the distance between making an argument and causing offense terrifyingly short. Any argument that can be cast as insensitive or offensive to a given group of people isn’t treated as being merely wrong. Instead it is seen as immoral, and therefore unworthy of discussion or rebuttal.
  • The result is that the disagreements we need to have — and to have vigorously — are banished from the public square before they’re settled.
  • One final point about identity politics: It’s a game at which two can play.
  • One of the more dismaying features of last year’s election was the extent to which “white working class” became a catchall identity for people whose travails we were supposed to pity but whose habits or beliefs we were not supposed to criticize. The result was to give the Trump base a moral pass it did little to earn.
  • So here’s where we stand: Intelligent disagreement is the lifeblood of any thriving society. Yet we in the United States are raising a younger generation who have never been taught either the how or the why of disagreement, and who seem to think that free speech is a one-way right: Namely, their right to disinvite, shout down or abuse anyone they dislike, lest they run the risk of listening to that person — or even allowing someone else to listen. The results are evident in the parlous state of our universities, and the frayed edges of our democracies.
  • Yes, we disagree constantly. But what makes our disagreements so toxic is that we refuse to make eye contact with our opponents, or try to see things as they might, or find some middle ground.
  • Instead, we fight each other from the safe distance of our separate islands of ideology and identity and listen intently to echoes of ourselves
  • The crucial prerequisite of intelligent disagreement — namely: shut up; listen up; pause and reconsider; and only then speak — is absent.
  • Perhaps the reason for this is that we have few obvious models for disagreeing well, and those we do have — such as the Intelligence Squared debates in New York and London or Fareed Zakaria’s show on CNN — cater to a sliver of elite tastes, like classical music.
  • Fox News and other partisan networks have demonstrated that the quickest route to huge profitability is to serve up a steady diet of high-carb, low-protein populist pap. Reasoned disagreement of the kind that could serve democracy well fails the market test
  • I do think there’s such a thing as private ownership in the public interest, and of fiduciary duties not only to shareholders but also to citizens
  • Journalism is not just any other business, like trucking or food services. Nations can have lousy food and exemplary government, as Great Britain demonstrated for most of the last century. They can also have great food and lousy government, as France has always demonstrated.
  • But no country can have good government, or a healthy public square, without high-quality journalism — journalism that can distinguish a fact from a belief and again from an opinion; that understands that the purpose of opinion isn’t to depart from facts but to use them as a bridge to a larger idea called “truth”; and that appreciates that truth is a large enough destination that, like Manhattan, it can be reached by many bridges of radically different designs.
  • In other words, journalism that is grounded in facts while abounding in disagreements.
  • that requires proprietors and publishers who understand that their role ought not to be to push a party line, or be a slave to Google hits and Facebook ads, or provide a titillating kind of news entertainment, or help out a president or prime minister who they favor or who’s in trouble.
  • Their role is to clarify the terms of debate by championing aggressive and objective news reporting, and improve the quality of debate with commentary that opens minds and challenges assumptions rather than merely confirming them.
  • This is journalism in defense of liberalism
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More Wall Street Firms Are Flip-Flopping on Climate. Here's Why. - The New York Times - 0 views

  • In recent days, giants of the financial world including JPMorgan, State Street and Pimco all pulled out of a group called Climate Action 100+, an international coalition of money managers that was pushing big companies to address climate issues.
  • Wall Street’s retreat from earlier environmental pledges has been on a slow, steady glide path for months, particularly as Republicans began withering political attacks, saying the investment firms were engaging in “woke capitalism.”
  • But in the past few weeks, things accelerated significantly. BlackRock, the world’s largest asset manager, scaled back its involvement in the group. Bank of America reneged on a commitment to stop financing new coal mines, coal-burning power plants and Arctic drilling projects
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  • Republican politicians, sensing momentum, called on other firms to follow suit.
  • “This was always cosmetic,” said Shivaram Rajgopal, a professor at Columbia Business School. “If signing a piece of paper was getting these companies into trouble, it’s no surprise they’re getting the hell out.
  • American asset managers have a fiduciary duty to act in the best interest of their clients, and the financial firms were worried that a new strategy by Climate Action 100+ could expose them to legal risks.
  • Since its founding in 2017, the group focused on getting publicly traded companies to increase how much information they shared about their emissions and identify climate-related risks to their businesses.
  • In addition to the risk that some clients might disapprove, and potentially sue, there were other concerns. Among them: that acting in concert to shape the behaviors of other companies could fall afoul of antitrust regulations.
  • The new plan called on asset-management firms to begin pressuring companies like Exxon Mobil and Walmart to adopt policies that could entail, for example, using fewer fossil fuels
  • last year, Climate Action 100+ said it would shift its focus toward getting companies to reduce emissions with what it called phase two of its strategy
  • BlackRock also said that one of its subsidiaries, BlackRock International, would continue to participate in the group — a tacit acknowledgment of the different regulatory environment in Europe. BlackRock also said it was initiating new features that would let clients choose if they wanted to pressure companies to reduce their emissions.
  • Pimco, another big asset manager, followed suit. “We have concluded that our Climate Action 100+ participation is no longer aligned with PIMCO’s approach to sustainability,” a firm spokesman said in a statement.
  • JPMorgan said it was pulling out of the group in recognition of the fact that, over the past few years, the firm had developed its own framework for engaging on climate risk
  • The fracturing of Climate Action 100+ was a victory for Representative Jim Jordan, Republican of Ohio, who has led a campaign against companies pursuing E.S.G. goals, shorthand for environmental, social and governance factors.
  • Embracing E.S.G. principles and speaking up on climate issues has become commonplace across corporate America in recent years. Chief executives warned about the dangers of climate change. Banks and asset managers formed alliances to phase out fossil fuels. Trillions of dollars were allocated for sustainable investing.
  • “Phase two is not that different,” she said. “It’s basically investors working with companies and saying: ‘OK, you’ve disclosed the risk. We just want to know how you’re going to address it.’ Because that’s what the investors want. How are you dealing with risk?”
  • Mindy Lubber, the chief executive of Ceres and a member of the steering committee of Climate Action 100+, disputed the notion that the new strategy represented a change from the focus on enhanced disclosure.
  • “The political cost has heightened, the legal risk has heightened,” he said. “That said, these corporations are not doing U-turns,” he added. “They continue to consider climate. That’s not going away. It’s adapting to the current environment.”
  • Aron Cramer, chief executive for BSR, a sustainable-business consultancy, said the Wall Street firms were responding to political pressure, but not abandoning their climate commitments altogether.
  • Several of the firms that backed out of Climate Action 100+ said they remained committed to the issue. JPMorgan said that it had a team of 40 people working on sustainable investing and that it believed “climate change continues to present material economic risks and opportunities to our clients.”
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