Skip to main content

Home/ History Readings/ Group items tagged pump

Rss Feed Group items tagged

Filter: All | Bookmarks | Topics Simple Middle
Javier E

Revealed: Credit Suisse leak unmasks criminals, fraudsters and corrupt politicians | Cr... - 0 views

www.theguardian.com/...fraudsters-corrupt-politicians

switzerland bank secrecy corruption tax evasion whistleblower

shared by Javier E on 21 Feb 22 - No Cached
  • The huge trove of banking data was leaked by an anonymous whistleblower to the German newspaper Süddeutsche Zeitung. “I believe that Swiss banking secrecy laws are immoral,” the whistleblower source said in a statement. “The pretext of protecting financial privacy is merely a fig leaf covering the shameful role of Swiss banks as collaborators of tax evaders.”
  • Swiss financial institutions manage about 7.9tn CHF (£6.3tn) in assets, nearly half of which belongs to foreign clients.
  • It identifies the convicts and money launderers who were able to open bank accounts, or keep them open for years after their crimes emerged. And it reveals how Switzerland’s famed banking secrecy laws helped facilitate the looting of countries in the developing world.
  • ...25 more annotations...
  • his case is one of dozens discovered by reporters appearing to show Credit Suisse opened or maintained accounts for clients who had serious convictions that might be expected to show up in due diligence checks. There are other instances in which Credit Suisse may have taken quick action after red flags emerged, but the case nonetheless shows that dubious clients have been attracted to the bank.
  • Like every other bank in the world, Credit Suisse professes to have stringent control mechanisms to carry out extensive due diligence on its customers to “ensure that the highest standards of conduct are upheld”. In banking parlance, such controls are called know-your-client or KYC checks.
  • A 2017 leaked report commissioned by Switzerland’s financial regulator shed some light on the bank’s internal procedures at that time. Clients would face intensified scrutiny when flagged as a politically exposed person from a high-risk country, or a person involved in a high-risk activity such as gambling, weapons trading, financial services or mining, the report said.
  • Such controls might be expected to prevent a bank from opening accounts for clients such as Rodoljub Radulović, a Serbian securities fraudster indicted in 2001 by the US Securities and Exchange Commission. However, the leaked data identifies him as the co-signatory of two Credit Suisse company accounts. The first was opened in 2005, the year after the SEC had secured a default judgment against Radulović for running a pump-and-dump scheme.
  • One of Radulović’s company accounts held 3.4m CHF (£2.2m) before they closed in 2010. He was recently given a 10-year prison sentence by a court in Belgrade for his role trafficking cocaine from South America for the organised crime boss Darko Šarić.
  • Due diligence is not only for new clients. Banks are required to continually reassess existing customers. The 2017 report said Credit Suisse screened customers at least every three years and as often as once a year for the riskiest clients. Lawyers for Credit Suisse told the Guardian these periodic reviews were introduced “more than 15 years ago”, meaning it was continually running due diligence on existing clients from 2007.
  • The bank might, therefore, have been expected to have discovered that its German client Eduard Seidel was convicted of bribery in 2008. Seidel was an employee of Siemens. As the multinational’s lead in Nigeria, he oversaw a campaign of industrial-scale bribery to secure lucrative contracts for his employer by funnelling cash to corrupt Nigerian politicians.
  • After German authorities raided the Munich headquarters of Siemens in 2006, Seidel immediately confessed his role in the bribery scheme, though he said he had never stolen from the company or appropriated its slush funds. His involvement in the corruption led to his name being entered into the Thomson Reuters World-Check database in 2007.
  • However, the leaked Credit Suisse data shows his accounts were left open until at least well into the last decade. At one point after he left Siemens, one account was worth 54m CHF (£24m). Seidel’s lawyer declined to say whether the accounts were his. He said his client had addressed all outstanding matters relating to his bribery offences and wished to move on with his life.
  • The lawyer did not respond to repeated invitations to explain the source of the 54m CHF. Siemens said it did not know about the money and that its review of its own cashflows shed no light on the account.
  • A representative for Sederholm said Credit Suisse never froze his accounts and did not close them until 2013 when he was unable to provide due diligence material. Asked why Sederholm needed a Swiss account, they said that he was living in Thailand when it was opened, adding: “Can you please tell me if you would prefer to put your money in a Thai or Swiss bank?”
  • One client, Stefan Sederholm, a Swedish computer technician who opened an account with Credit Suisse in 2008, was able to keep it open for two-and-a-half years after his widely reported conviction for human trafficking in the Philippines, for which he was given a life sentence.
  • Swiss banks have cultivated their trusted reputation since as far back as 1713, when the Great Council of Geneva prohibited bankers from revealing details about the fortunes being deposited by European aristocrats. Switzerland soon became a tax haven for many of the world’s elites and its bankers nurtured a “duty of absolute silence” about their clients affairs.
  • The custom was enshrined in statute in 1934 with the introduction of Switzerland’s banking secrecy law, which criminalised the disclosure of client banking information to foreign authorities. Within decades, wealthy clients from all over the world were flocking to Swiss banks. Sometimes, that meant clients with something to hide.
  • One former Credit Suisse employee at the time alleges there was a deeply ingrained culture in Swiss banking of looking the other way when it came to problematic clients. “The bank’s compliance departments [were] masters of plausible deniability,” they told a reporter from the Organized Crime and Corruption Reporting Project, one of the coordinators of the Suisse secrets project. “Never write anything down that could expose an account that is non-compliant and never ask a question you do not want to know the answer to.”
  • The 2000s was also a decade in which foreign regulators and tax authorities became increasingly frustrated at their inability to penetrate the Swiss financial system. That changed in 2007, when the UBS banker Bradley Birkenfeld voluntarily approached US authorities with information about how the bank was helping thousands of wealthy Americans evade tax with secret accounts.
  • Birkenfeld was viewed as a traitor in Switzerland, where banking whistleblowers are often held in contempt. However, a wide-ranging US Senate investigation later uncovered the aggressive tactics used by UBS and Credit Suisse, the latter of which was found to have sent bankers to high-end events to recruit clients, courted a potential customer with free gold, and in one case even delivered sensitive bank statements hidden in the pages of a Sports Illustrated magazine.
  • The revelations sent shock waves through Switzerland’s financial sector and enraged the US, which pressured Switzerland into unilaterally disclosing which of its taxpayers had secret Swiss accounts from 2014. That same year, Switzerland reluctantly signed up to the international convention on the automatic exchange of banking Information.
  • By adopting the so-called common reporting standard (CRS) for sharing tax data, Switzerland in effect agreed that its banks would in the future exchange information about their clients with tax authorities in foreign countries. They started doing so in 2018.
  • Membership of the global exchange system is often cited by Switzerland’s banking industry as a turning point. “There is no longer Swiss bank client confidentiality for clients abroad,” the Swiss Bankers Association told the Guardian. “We are transparent, there is nothing to hide in Switzerland.”
  • Switzerland’s almost 90-year-old banking secrecy law, however, remains in force – and was recently broadened. The Tax Justice Network estimates that countries around the world collectively lose $21bn (£15.4bn) each year in tax revenues because of Switzerland. Many of those countries will be poorer nations that have not signed up to the CRS data exchange.
  • More than 90 countries, most of which are in the developing world, remain in the dark when their wealthy taxpayers hide their money in Swiss accounts.
  • This inequity in the system was cited by the whistleblower behind the leaked data, who said the CRS system “imposes a disproportionate financial and infrastructural burden on developing nations, perpetuating their exclusion from the system in the foreseeable future”.
  • “This situation enables corruption and starves developing countries of much-needed tax revenue. These countries are the ones that therefore suffer most from Switzerland’s reverse-Robin-Hood stunt,” they said.
  • “I am aware that having an offshore Swiss bank account does not necessarily imply tax evasion or any other financial crime,” they said. “However, it is likely that a significant number of these accounts were opened with the sole purpose of hiding their holder’s wealth from fiscal institutions and/or avoiding the payment of taxes on capital gains.”
Javier E

What Hannah Arendt's Work Tells Us About Ukraine - The Atlantic - 0 views

www.theatlantic.com/...627081

authoritarian isolation human rights citizenship autocracy Arendt

shared by Javier E on 19 Mar 22 - No Cached
  • The toxic nationalism and open racism of Nazi Germany, only recently defeated; the Soviet Union’s ongoing, cynical attacks on liberal values and what it called “bourgeois democracy”; the division of the world into warring camps; the large influx of refugees; the rise of new forms of broadcast media capable of pumping out disinformation and propaganda on a mass scale; the emergence of an uninterested, apathetic majority, easily placated with simple bromides and outright lies; and above all the phenomenon of totalitarianism, which she described as an “entirely new form of government”—all of these things led Arendt to believe that a darker era was about to begin.
  • Once again, we are living in a world that Arendt would recognize, a world in which it seems “as though mankind had divided itself between those who believe in human omnipotence (who think that everything is possible if one knows how to organize masses for it) and those for whom powerlessness has become the major experience of their lives”
  • In the totalitarian world, trust has dissolved. The masses “believe everything and nothing, think that everything was possible and that nothing was true.”
  • ...11 more annotations...
  • because Arendt feared for the future, much of The Origins of Totalitarianism was in fact focused on an excavation of the past.
  • the principle that led her down this path remains important: To grapple with a broad social trend, look at its history, try to find its origins, try to understand what happened when it last appeared, in another country or another century
  • To explain Nazi anti-Semitism, Arendt reached back not only to the history of the Jews in Germany but also to the history of European racism and imperialism, and to the evolution of the notion of the “rights of man”—which we now more commonly speak of as “human rights.” To have such rights, she observed, you must not only live in a state that can guarantee them; you must also qualify as one of that state’s citizens.
  • the questions Arendt asks remain absolutely relevant today. She was fascinated by the passivity of so many people in the face of dictatorship, by the widespread willingness, even eagerness, to believe lies and propaganda
  • it offers us a kind of dual methodology, two different ways of thinking about the phenomenon of autocracy.
  • To explain this phenomenon, Arendt zeroes in on human psychology, especially the intersection between terror and loneliness. By destroying civic institutions, whether sports clubs or small businesses, totalitarian regimes kept people away from one another and prevented them from sharing creative or productive projects.
  • when each person felt himself isolated from the rest, resistance became impossible. Politics in the broadest sense became impossible too: “Terror can rule absolutely only over men who are isolated against each other … Isolation may be the beginning of terror; it certainly is its most fertile ground; it always is its result.”
  • it is impossible not to wonder whether the nature of modern work and information, the shift from “real life” to virtual life and the domination of public debate by algorithms that increase emotion, anger, and division, hasn’t created some of the same results
  • In a world where everyone is supposedly “connected,” loneliness and isolation once again are smothering activism, optimism, and the desire to participate in public life.
  • he 20th-century totalitarian model has not been banished; it can be brought back, at any place and at any time.
  • The Origins of Totalitarianism does not contain a set of policy prescriptions, or directions on how to fix things. Instead it offers proposals, experiments, different ways to think about the lure of autocracy and the seductive appeal of its proponents as we grapple with them in our own time
Javier E

Ukraine War and U.S. Politics Complicate Climate Change Fight - The New York Times - 0 views

www.nytimes.com/...ion-biden-ukraine-climate.html

climate change politics us policy

shared by Javier E on 04 Mar 22 - No Cached
  • Energy experts said that Mr. Biden missed an opportunity to connect the war in Ukraine to the need to more swiftly sever an economic reliance on fossil fuels. “The president did not articulate the long-term opportunity for the U.S. to lead the world in breaking free of the geopolitical nightmare that is oil dependency,” said Paul Bledsoe, a strategic adviser to the Progressive Policy Institute, a Washington-based think tank.
  • In exposing the enormous leverage that Russia has enjoyed with its energy exports, the Ukraine conflict is forcing European leaders to make some urgent choices: Should it build new fossil fuel infrastructure so that it can replace Russian fuel with liquefied natural gas from elsewhere, chiefly the United States? Or should it shift away from fossil fuels faster?
  • A draft of the report, reviewed by The New York Times, suggests that the new strategy will propose speeding up energy efficiency measures and renewable energy installations. It views imports of liquefied natural gas, or L.N.G., from the United States and elsewhere as a short term measure to offset Russian piped gas.
  • ...8 more annotations...
  • Analysts have said European countries can quickly reduce gas dependence with energy efficiency measures and ramping up renewable energy investments, which are already in line with Europe’s ambition to stop pumping additional greenhouse gases into the atmosphere by midcentury
  • The conflict in Ukraine could fast-track some of that. It could also lead to what Lisa Fischer, who follows energy policy at E3G, a research group, called “a tectonic shift” — using renewables, rather than ample gas storage, to achieve energy security.
  • The President’s centerpiece legislative agenda, which he had called the Build Back Better act, is dead. Democrats still hope to pass approximately $500 billion of clean energy tax incentives that had been part of the package, but opportunities to do so are waning
  • The United States, for its part, has ramped up exports of L.N.G. to Europe to counter the decline in Russian piped gas. By the end of this year, the United States is poised to have the world’s largest L.N.G. export capacity.
  • White House officials said Mr. Biden wove climate change and clean energy throughout his speech. He noted that Ford and GM are investing billions of dollars to build electric vehicles, creating millions of manufacturing jobs in the United States. He also noted that funding from the infrastructure package will build a national network of 500,000 electric vehicle charging stations.
  • “Energy is a key weapon within this fight, and if there were far less dependency on gas there would be a different set of plays.”
  • If that investment does not come through and the Supreme Court also restricts the administration’s ability to regulate emission, Mr. Biden’s goal of cutting United States emissions roughly in half compared with 2005 levels could be essentially unattainable.
  • Even if climate wasn’t the stated focus of Mr. Biden’s Tuesday address, administration officials said that Russia’s war against Ukraine has not pushed climate change off the agenda. They noted that Mr. Biden has made climate change an emphasis in virtually every federal agency, and has moved ahead with major clean energy deployments including a record-breaking offshore wind auction last week that brought in more than $4 billion.
lilyrashkind

China says no survivors in plane crash with 132 on board - ABC News - 0 views

abcnews.go.com/...hina-eastern-wreckage-83685808

china plane crash history

shared by lilyrashkind on 26 Mar 22 - No Cached
  • The announcement by an official of the Civil Aviation Administration of China at a late-night news conference was followed by a brief moment of silence. Investigators have identified 120 of the victims through DNA analysis, state media reported.
  • The flight from the city of Kunming in southwestern China was flying at 29,000 feet (8,800 meters) on Monday when it suddenly nosedived into a mountainous area, shortly before it would have started its descent to the airport in Guangzhou, a provincial capital and export manufacturing hub near Hong Kong on China’s southeastern coast.
  • Workers wearing knee-high rubber boots used shovels and other hand tools to sift through the earthen slopes in a 20-meter- (65-foot-) deep pit left by the plane. Debris and other items were collected in dozens of rectangular, mud-stained plastic containers.Pumps were used to drain water as muddy conditions in the rainy Guangxi region hampered the search. One excavator stopped working after getting partially stuck, state broadcaster CCTV said.
  • ...1 more annotation...
  • China Eastern, one of China’s four major airlines, and its subsidiaries have grounded all of their 737-800 aircraft, a total of 223 planes. The carrier said the grounding was a precaution, not a sign there was anything wrong.
Javier E

Keir Starmer: Trans rights can't override women's rights - 0 views

www.thetimes.co.uk/...erride-womens-rights-m70dw55dp

UK labor party strategy leader trans feminist

shared by Javier E on 02 Apr 23 - No Cached
  • after seeing the political turmoil that engulfed Nicola Sturgeon’s final days as Scottish first minister, Starmer is keen to clarify both his personal and his party’s position on the subject.
  • Speaking about Sturgeon’s gender recognition bill, which proposed self-identification for those wishing to change their legal gender, Starmer says: “The lesson from Scotland is that if you can’t take the public with you on a journey of reform, then you’re probably not on the right journey. And that’s why I think that collectively there ought to be a reset in Scotland.”
  • It sounds like a marked change of tone from the Labour leader, whose party prevaricated over the issue only weeks ago by first whipping its MSPs to vote for the gender bill in Holyrood, then asking MPs in Westminster to abstain when the government exercised its veto over the legislation.
  • ...14 more annotations...
  • Labour’s troubles don’t end there. For months Starmer and his shadow cabinet have tied themselves in knots attempting to answer what appears to be a rather basic question: can a woman have a penis?
  • Starmer’s failure to articulate a simple position has put him on a collision course with feminist groups and his own MP Rosie Duffield, who has claimed that the party has a “women problem”
  • he says: “For 99.9 per cent of women, it is completely biological . . . and of course they haven’t got a penis.”
  • According to the 2021 census, 262,000 people in Britain — 0.5 per cent of the population — stated that their gender identity was different to their sex registered at birth. Of those, 48,000 — 0.1 per cent — identified as a trans woman.
  • Starmer says: “Look, of course I’d want to know. I say that as a parent. I would want to know and I think the vast majority of parents would want to know. That’s why we have to have national guidance on it and they should try to make it cross-party, because it’s not helpful to parents or schools to have this as just a toxic divide when what’s needed is practical, common sense advice.
  • He adds: “There are some people who identify as a different gender to the one they are born with. It’s a very small number and that is why the Gender Recognition Act was passed [in 2004].
  • “To recognise that they need legal support and a framework and most people don’t disagree with that, and that’s the framework within which we ought to look at these issues. But simply turning it into a toxic divide advances the cause of no one, the cause of women or those that don’t identify with the gender that they were born into.
  • And it’s also a pattern of behaviour of the last ten years which is now turning everything into a toxic culture, when it possibly can, which is the last resort of politicians who have nothing substantive to say on the issue.”
  • On the subject of children, Starmer, who has a son and daughter with his wife, Victoria, is also clear that there is a need for greater transparency from teachers
  • only 39 out of 140 English secondary schools were “reliably informing” parents when pupils identified as trans or questioned their gender.
  • In an attempt to win back the support of gender critical campaigners and MPs, Starmer is eager to stress that there will be “no rolling back” on women’s hard-won rights, saying: “I think there is a fear that somehow there could be the rolling back of some of the things that have been won. There are still many battles that need to go ahead for women and I don’t think we should roll anything back. I think we should go on to win the next battles for women. And that is a very important sort of starting point for this debate.”
  • he is clear that in order for Labour to overturn the Tories’ majority — which was a historic 80 seats at the 2019 election — it will require him to stick to his three-part plan for power: to change the party, expose the government’s failings, and have the answers to the challenges facing the country.
  • “You’ve got to have a race strategy. And my strategy was that you’ve got to be in the leading pack as you go round the track three and three-quarter times. But you shouldn’t hit the front too early
  • each time you go round the lap, there are people on the side going: go faster, pump harder . . . And what we’ve had to do over the last three years is to keep the discipline, which is that we have got a strategy, we are operating to it and there is such a determination to get us over the finishing line, which would be such an incredible achievement if we can go from the disastrous defeat of the 2019 election into power.”
Javier E

The Liberal Maverick Fighting Race-Based Affirmative Action - The New York Times - 0 views

www.nytimes.com/...enberg-affirmative-action.html

maverick liberal race class admissions

shared by Javier E on 07 Apr 23 - No Cached
  • The paper inspired him to write his influential 1996 book, “The Remedy,” which developed his theory that affirmative action had set back race relations by becoming a source of racial antagonism.
  • “If you want working-class white people to vote their race, there’s probably no better way to do it than to give explicitly racial preferences in deciding who gets ahead in life,” he said. “If you want working-class whites to vote their class, you would try to remind them that they have a lot in common with working-class Black and Hispanic people.”
  • Today, as in the mid-1990s, polls show that a majority of people oppose race-conscious college admissions, even as they support racial diversity. Public opinion may not always be right, Mr. Kahlenberg said, but surely it should be considered when developing public policy.
  • ...12 more annotations...
  • If Mr. Kahlenberg had his way, college admissions would be upended.
  • His basic recipe: Get rid of preferences for alumni children, as well as children of faculty, staff and big donors. Say goodbye to recruited athletes in boutique sports like fencing. Increase community college transfers. Give a break to students who have excelled in struggling schools, who have grown up in neighborhoods of concentrated poverty, in families with low income, or better yet, low net worth. Pump up financial aid. Look for applicants in towns that do not normally send students to highly selective colleges.
  • elite colleges have become fortresses for the rich, he said. Harvard had “23 times as many rich kids as poor kids,” Mr. Kahlenberg testified in 2018 at the federal court trial in the Harvard case, referring to a 2017 paper by Raj Chetty, then a Stanford economist, and colleagues.
  • his 2012 study that found seven of 10 leading universities were able to return to previous levels of diversity through race-neutral means.
  • In 2020, Berkeley boasted that it had admitted its most diverse class in 30 years, with offers to African American and Latino students rising to the highest numbers since at least the late-1980s, without sacrificing academic standards.
  • In a simulation of the class of 2019, he found that the share of Black students at Harvard would drop to 10 percent from 14 percent, but the share of white students would also drop, to 33 percent from percent from 40 percent, mainly because of the elimination of legacy and other preferences. The share of Hispanic students would rise to 19 percent from 14 percent and the Asian American share would rise to 31 percent from 24 percent.
  • The share of “advantaged” students (parents with a bachelor’s degree, family income over $80,000, living in a neighborhood not burdened by concentrated poverty) would make up about half of the class, from 82 percent. SAT scores would drop to the 98th percentile from the 99th.
  • In the affirmative action trial, Harvard said that Mr. Kahlenberg’s model would produce too little diversity, and water down academic quality. Its actual class of 2026 is 15.2 percent African American, 12.6 percent Hispanic and 27.9 percent Asian American.
  • Edward Blum, the conservative activist behind the lawsuits against Harvard and U.N.C., said Mr. Kahlenberg came to his attention when “The Remedy” was published. The focus on class seemed like a powerful bridge between the left and the right, Mr. Blum said
  • Dr. Laycock, of the University of Virginia, expects that once the Supreme Court rules, conservative groups that are now promoting race-neutral alternatives will claim they are racial proxies and turn against them. “Everybody knows that’s why it’s being used,” he said. (Mr. Blum said his group will not, though other conservative groups could do so.)
  • There is no “We Believe” sign in the yard. But on the living room wall, a sign says, “Live simply, dream big, be grateful, give love, laugh lots.”
  • In that spirit, his stubborn campaign might be traced to being the son of a pastor whose family could afford to make him a Harvard graduate, twice over. “I do have some measure of class guilt,” he said. “I wish people who are far richer than I am had more class guilt.”
Javier E

Opinion | A Strongman President? These Voters Crave It. - The New York Times - 0 views

www.nytimes.com/...trump-voters-iowa-caucus.html

authoritarian appeal culture politics history crisis trump

shared by Javier E on 15 Jan 24 - No Cached
  • . I have studied and written about authoritarianism for years, and I think it’s important to pay attention to the views and motivations of voters who support authoritarian politicians, even when these politicians are seen by many as threats to the democratic order.
  • My curiosity isn’t merely intellectual. Around the world, these politicians are not just getting elected democratically; they are often retaining enough popular support after a term — or two or three — to get re-elected. Polls strongly suggest that Trump has a reasonable chance of winning another term in November.
  • Why Trump? Even if these voters were unhappy with President Biden, why not a less polarizing Republican, one without indictments and all that dictator talk? Why does Trump have so much enduring appeal?
  • ...23 more annotations...
  • In my talks with more than 100 voters, no one mentioned the word “authoritarian.” But that was no surprise — many everyday people don’t think in those terms. Focusing solely on these labels can miss the point.
  • Authoritarian leaders project qualities that many voters — not just Trump voters — admire: strength, a sense of control, even an ends-justify-the-means leadership style
  • Our movie-hero presidents, Top Gun pilots and crusading lawyers often take matters into their own hands or break the rules in ways that we cheer.
  • they have something in common with Trump: They are seen as having special or singular strengths, an “I alone can fix it” power.
  • argued that it’s just Trump who’s strong and honest enough to say it out loud — for them, a sign that he’s honest.
  • also see him as an authentic strongman who is not a typical politician
  • during Trump’s presidency, “there weren’t any active wars going on except for Afghanistan, which he did not start. He started no new wars. Our economy was great. Our gas prices were under 2 bucks a gallon. It’s just common sense to me. If it ain’t broke, don’t fix it.”
  • Trump’s vulgar language, his penchant for insults (“Don’t call him a fat pig,” he said about Chris Christie) and his rhetoric about political opponents (promising to “root out the communists, Marxists, fascists and the radical left thugs that live like vermin within the confines of our country”) are seen as signs of authenticity and strength by his supporters
  • Jan. 6, 2021, at the Capitol. I didn’t encounter a single outright supporter of what happened, but many people explained the events away. Increasingly separate information environments and our fractured media ecology shape the way people view that day.
  • they think Biden is too weak and too old to be president. They talk about him with attack lines frequently used by Trump, saying that he’s senile, falling down stairs, losing his train of thought while talking and so on
  • What I heard from voters drawn to Trump was that he had a special strength in making the economy work better for them than Biden has, and that he was a tough, “don’t mess with me” absolutist, which they see as helping to prevent new wars.
  • Many Trump supporters told me that had Trump been president, the war in Ukraine wouldn’t have happened because he would have been strong enough to be feared by Vladimir Putin or smart enough to make a deal with him, if necessary
  • Neither would Hamas have dared attack Israel, a few added. Their proof was that during Trump’s presidency, these wars indeed did not happen.
  • Like many of these right-wing populists, Trump leans heavily on the message that he alone is strong enough to keep America peaceful and prosperous in a scary world
  • In Iowa, Trump praised Orban himself before telling a cheering crowd: “For four straight years, I kept America safe. I kept Israel safe. I kept Ukraine safe, and I kept the entire world safe.”
  • from Trump, these statements often resulted in the crowds leaping to their feet (actually, some rallygoers never sat down) and interrupting him with applause and cheering.
  • That’s charisma. Charisma is an underrated aspect of political success — and it’s not necessarily a function of political viewpoint. Bill Clinton and Barack Obama oozed it, for example, and so does Trump.
  • Charismatic leaders, Weber wrote, “have a certain quality of an individual personality, by virtue of which he is set apart from ordinary men,” and is sought as a leader, especially when people feel the times are troubled.
  • Polls also show that voters believe that Trump would do a better job than Biden on the economy, foreign policy and immigration. It was Trump’s perceived strength, in contrast with Biden’s perceived weakness, that was the common theme that tied it all together for his supporters.
  • “I’m not concerned with Jan. 6,” Finch said. “I don’t trust our government. I don’t trust anything they’re saying. They’ve been doing this to Black people for so long, railroading them, so they have zero credibility. So I don’t even care about it, and I don’t want to hear about Jan. 6.”
  • For her, biased mainstream media is misrepresenting him. “He was making the point that he’d use executive orders on Day 1, like the others do — executive orders bypass Congress, but that’s how it’s done these days,” she said. “He was being sarcastic, not saying he’d be a real dictator.”
  • What’s a bit of due process overstepped here, a trampled emoluments clause there, when all politicians are believed to be corrupt and fractured information sources pump very different messages about reality?
  • Politicians projecting strength at the expense of the rules of liberal democracy isn’t a new phenomenon in the United States, or the world. Thomas Jefferson worried about it. So did Plato. Perhaps acknowledging that Trump’s appeal isn’t that mysterious can help people grapple with its power.
Javier E

Order and Calm Eased Evacuation from Burning Japan Airlines Jet - The New York Times - 0 views

www.nytimes.com/...japan-airlines-fire.html

discipline order panic airplane fire japan culture history

shared by Javier E on 03 Jan 24 - No Cached
  • While a number of factors aided what many have called a miracle at Haneda Airport — a well trained crew of 12; a veteran pilot with 12,000 hours of flight experience; advanced aircraft design and materials — the relative absence of panic onboard during the emergency procedure perhaps helped the most.
  • “Even though I heard screams, mostly people were calm and didn’t stand up from their seats but kept sitting and waiting,” said Aruto Iwama, a passenger who gave a video interview to the newspaper The Guardian. “That’s why I think we were able to escape smoothly.”
  • Experts said that while crews are trained — and passenger jets are tested — for cabin evacuations within 90 seconds in an emergency landing, technical specifications on the 2-year-old Airbus A350-900 most likely gave those on the flight a bit more time to escape.
  • ...5 more annotations...
  • Firewalls around the engines, nitrogen pumps in fuel tanks that help prevent immediate burning, and fire-resistant materials on seats and flooring most likely helped to keep the rising flames at bay, said Sonya A. Brown, a senior lecturer in aerospace design at the University of New South Wales in Sydney, Australia.
  • “Really, the Japan Airlines crew in this case performed extremely well,” Dr. Brown said. The fact that passengers did not stop to retrieve carry-on luggage or otherwise slow down the exit was “really critical,” she added.
  • Tadayuki Tsutsumi, an official at Japan Airlines, said the most important component of crew performance during an emergency was “panic control” and determining which exit doors were safe to use.
  • Former flight attendants described the rigorous training and drills that crew members undergo to prepare for emergencies. “When training for evacuation procedures, we repeatedly used smoke/fire simulation to make sure we could be mentally ready when situations like those occurred in reality,” Yoko Chang, a former cabin attendant and an instructor of aspiring crew members, wrote in an Instagram message.
  • Ms. Chang, who did not work for JAL, added that airlines require cabin crew members to pass evacuation exams every six months.
Javier E

Climate change just became solvable because of math - 0 views

the.ink/...case-for-climate-unilateralism

climate change economic cost research

shared by Javier E on 04 Jun 24 - No Cached
  • For years, economists’ best estimates of the cost of climate inaction were giant but not quite big enough to stimulate immediate and adequate action. The cost of inaction was, in a sense, high enough to be terrifying but too low to be galvanizing
  • now a groundbreaking new study has raised the estimated cost of inaction by so much that it makes acting seem like a bargain, and even makes it makes sense for wealthy countries to act alone, regardless of what their peers are doing. It’s a rare academic paper that could change everything.
  • Until the new paper, the most commonly used economic models were predicting climate impacts on the world economy on the order of about $200 in losses per ton of carbon emitted, or around 2 percent of world GDP (the monetary value of everything people produce) per degree of warming
  • ...13 more annotations...
  • But while those are huge numbers by any measure (world GDP is around $100 trillion), they aren’t big enough to motivate most leaders to justify mitigation, which will also cost a whole lot of money.
  • To put it in terms the authors use, the recently enacted Inflation Reduction Act will cost Americans roughly $80 per ton of carbon emissions avoided, and while each ton not pumped into the atmosphere would save the world $200 as a whole, it would only save Americans about $40 of that $200, making it feel to some altruistic but not self-evident in purely economic terms.
  • In their new paper, economists Adrien Bilal of Harvard and Diego Känzig of Northwestern take a fresh look at the data
  • They show that the social cost of carbon is likely far bigger — six times bigger — than previously estimated: losses of more than $1,000 per ton, or around 12 percent of world GDP per degree of warming.
  • — roughly equivalent to the economic drag on big economies if they were permanently at war.
  • Suddenly, that $80 Americans are spending on reducing one ton of carbon emissions is netting them $200 or so in U.S. economic activity.
  • Bilal and Känzig argue that it’s very much worth it for countries of means to spend the money now to avoid much greater costs down the line
  • the potential losses are so vast it makes sense for these countries to go ahead and act on their own to avoid climate change losses, even if other nations do nothing.
  • What’s different about your methodology and how did it lead you to the numbers you've come up with?
  • Adrien Bilal: So virtually all of the previous work that's been done on the subject has relied on comparisons of different countries that heat up or cool down at different points in time. The U.K. gets a little hotter in one year, and then Germany stays cool. And then you look at how GDP in the U.K. evolves following that change in temperature.
  • that generally gives you numbers in the vicinity of $150 per ton of carbon emitted and a 2 percent decline in GDP per degree Celsius in warming
  • we think that is quite different from what climate change is actually doing to the world. It's not only that the U.K. is going to heat up a little more than Germany, but the whole world is heating up because of climate change. And, in particular, oceans are also heating up. And when the whole planet warms, that has potentially really different implications for the climate system, increased frequency of extreme weather events that then have big local impacts. 
  • that's actually what geoscientists have been telling us for a long time, but it simply hadn't percolated into economics. And so we took that perspective very seriously and thought, "Well, what happens when we basically compare years where the world is very hot to years where the world is cooler?" And that gives you a much larger effect of climate change on the economy.
« First ‹ Previous 101 - 109 of 109
Showing 20▼ items per page