Michael Lewis on the Wall Street Crash

Michael Lewis explains how Meredith Whitney and Steve Eisman predicted the collapse of the subprime mortgage industry--and why a rating company 20-percent owned by Warren Buffett bears responsibility:

The funny thing, looking back on it, is how long it took for even someone who predicted the disaster to grasp its root causes. They were learning about this on the fly, shorting the bonds and then trying to figure out what they had done. Eisman knew subprime lenders could be scumbags. What he underestimated was the total unabashed complicity of the upper class of American capitalism. For instance, he knew that the big Wall Street investment banks took huge piles of loans that in and of themselves might be rated BBB, threw them into a trust, carved the trust into tranches, and wound up with 60 percent of the new total being rated AAA.

But he couldn’t figure out exactly how the rating agencies justified turning BBB loans into AAA-rated bonds. “I didn’t understand how they were turning all this garbage into gold,” he says. He brought some of the bond people from Goldman Sachs, Lehman Brothers, and UBS over for a visit. “We always asked the same question,” says Eisman. “Where are the rating agencies in all of this? And I’d always get the same reaction. It was a smirk.” He called Standard & Poor’s and asked what would happen to default rates if real estate prices fell. The man at S&P couldn’t say; its model for home prices had no ability to accept a negative number. “They were just assuming home prices would keep going up,” Eisman says.

As an investor, Eisman was allowed on the quarterly conference calls held by Moody’s but not allowed to ask questions. The people at Moody’s were polite about their brush-off, however. The C.E.O. even invited Eisman and his team to his office for a visit in June 2007. By then, Eisman was so certain that the world had been turned upside down that he just assumed this guy must know it too. “But we’re sitting there,” Daniel recalls, “and he says to us, like he actually means it, ‘I truly believe that our rating will prove accurate.’ And Steve shoots up in his chair and asks, ‘What did you just say?’ as if the guy had just uttered the most preposterous statement in the history of finance. He repeated it. And Eisman just laughed at him.”

“With all due respect, sir,” Daniel told the C.E.O. deferentially as they left the meeting, “you’re delusional.”

This wasn’t Fitch or even S&P. This was Moody’s, the aristocrats of the rating business, 20 percent owned by Warren Buffett. And the company’s C.E.O. was being told he was either a fool or a crook by one Vincent Daniel, from Queens.

Google Earth Adds Ancient Rome

Google Earth now doubles as a time machine, according to this BBC report:

popular 3D map tool, Google Earth, offering millions of users the chance to visit a virtual ancient Rome.

Google has reconstructed the sprawling city - inhabited by more than one million people as long ago as AD320.
Users can zoom around the map to visit the Forum of Julius Caesar, stand in the centre of the Colosseum or swoop over the Basilica.

Researchers behind the project say it adds to five centuries of knowledge.

"This is another step in creating a virtual time machine," said Bernard Frischer of Virginia University, which worked with Google on the Roman reconstruction.

Here's the link to Google Earth for Ancient Rome.

Journalist Sues CIA. . . Again

The FOIABlog reports on my complaint charging a violation of the Freedom of Information Act, in regard to a request for CIA documents about the May, 2005 outbreak of violence in Andijan, Uzbekistan. . .

Posted using ShareThis

Happy Veteran's Day!

On the 11th hour of the 11th day of the 11th month, World War I came to an end...we celebrate it today in memory of all veterans. Here's a link to the official Department of Veterans Affairs website.

Friends 4ever?

(White House photo by Eric Draper)

Inside the Borgia Administration...

Friday night's cultural super-day was capped by the Washington National Opera's production of Donizetti's Lucrezia Borgia. The performance starred soprano Sondra Radvanovsky. The Berwyn, Illinois native sang beautifully, a lovely voice in a rather unlovely tragedy about murder by wineglass. Placido Domingo conducted the orchestra, and all the singing sounded first-rate. The stage direction was a bit strange--a distracting homosexual romance had been added to the plot by John Pascoe, in addition to Lucrezia slitting her own throat. His set and costume design featured what looked like fetish wear rather than beautiful clothes. The choreography, by Bulgarian Vladimir Angelov, was unfortunately not good...

But who cares... The music was great, the singing was great, and the story was great. A great show.

OperaLuvr's blog post about Renee Fleming's performance. IonArts review here.

Rachmaninoff in Washington

Before the Pompeii show, someone I know and I had been to a performance of Sergei Rachmaninoff's Sonata for Cello and Piano in G Minor, Opus 19, performed by Sean Neidlinger and Jennifer Yeo at the Arts Club. It was a lovely performance, and both of the musicians were excellent. They are two members of the Sage Chamber Players, and so good that I googled their website, where you may read about upcoming performances.

Pompeii Comes to Washington

Last Friday, someone I know and yours truly took in the National Gallery of Art's Pompeii and the Roman Villa: Art and Culture Around the Bay of Naples. It's a nice show. Not the bordello paintings and priapic satyrs one associates with the ruined resort. Rather highbrow, dealing with Pompeii past, present, and perhaps future...

Not just Las Vegas, Pompeii had been a Martha's Vineyard or Nantucket of ancient Rome. Writers, orators, actors, even philosophers were respected--on display is a mosaic featuring Plato with students beneath a tree. Thoughts of 9/11 came to mind while looking at 19th-century paintings of the disaster by the likes of Joseph Wright of Derby. Photos of the ash-covered bodies re-created in Plaster of Paris likewise evoked the collapse of the World Trade Center. Some of the statues looked surprisingly contemporary--like art deco sculptures by Paul Manship. Painted walls for a dining room turned out to have descendants on display in hearing rooms of the US Capitol. And Sir Derek Jacobi's Masterpiece Theatre-like video orientation brought back the glory days of I, Claudius.

Highly recommended.

Scott Hodes on the Future of the Freedom of Information Act

From FOIA Blog.

Historically, Democratic Presidents (Carter, Clinton) have been much more pro-disclosure than Republican Presidents (Ford, Reagan, Bush, and Bush II). I would expect the Obama administration to be more like the Clinton and Carter FOIA model than that of the current administration.

Initially, I look for the Ashcroft memorandum to be stricken. This memorandum which came out in the Fall of 2001 said that any properly used FOIA exemption would be defended by the Justice Department. It superseded (without expressly stating that it did) the Reno memorandum of 1993 which said even if something could be withheld under a FOIA exemption, agencies should look to make discretionary disclosures of material as long as there was no foreseeable harm in government activities in releasing the material. For instance, privileged material in a document that could be withheld under FOIA exemption 5 should be looked at to see if the material could be released even though legally it could be withheld under FOIA exemption 5--the test was would the release do any foreseeable harm to the government. If the answer was no, the material went. Under current policy agencies don't have to ask, they just defend the withholding. Under the Obama administration I look for a similar foreseeable harm test to return.

I also look for an increased awareness in FOIA programs. FOIA Operations will get greatersupportt from those in charge of agencies. While money will be tight in the new administration, I look for investments in the use of new technology to streamline FOIA Operations making them more efficient and answerable to requesters. Additionally, I think the Department of Justice will provide more guidance in FOIA operations, both legally and procedurally.

Finally, I think agencies will overall be more pro-disclosure. I don't know how to quantify that idea, but I think there is a feeling in many FOIA Offices that they can't release information because the current administration doesn't want them to. I think this will slowly change and some agencies will release information they are now withholding. Again, I can't quantify it nor give specific examples.

How to Get a Job in the Obama Administration...

Go to www.change.gov. Scroll to the "Jobs: Apply Now" link. Fill out the form. Wait for the email...

I just did it. It takes about a minute.

There's also a link to the transition directory.

Coincidentally, at dinner last night, there was a discussion speculating on what Obama would do in foreign policy--especially over whom he might pick as Secretary of State. I mentioned that the only foreign policy expert on Obama's team I had seen in person was Susan Rice, years ago at an event at the National Press Club in relation to the 2004 election. She impressed me at the time as the only panelist who sounded like a normal human being. So, it was interesting to read that she seems to be in charge, according this leaked email from Politico.com:

TO: Obama Foreign Policy Experts
FROM: Tony Lake and Susan Rice
DATE: November 7, 2008
RE: Thank You

We want to thank you, and thank you again, for all that you have done to help elect Barack Obama President of the United States. Your wisdom and expertise have been invaluable. We will remain extremely grateful for your incredibly hard work and for your many personal and collective contributions.

We are obviously entering a new phase now with the transition. The transition will be a separate operation from the campaign, which is now disbanding. So too must our foreign policy expert teams disband.

The transition operation will be brief and comparatively lean. Given the need to complete this work expeditiously and efficiently, please understand that only a limited number of people will be able to support those activities. But, please also be assured that participation in the transition is in no way a prerequisite to, nor an assurance of, being offered any position in the Obama-Biden administration.

For those of you interested in applying for a position in the future administration, a transition website has been set up where you can (and, in fact, must) apply by filling out a form and submitting your resume. It is: www.change.gov. We hope very much that you will apply. You should follow the instructions to indicate your interest in being considered for a position in the government. This is a real website, which will be used to fill important positions in the government below the cabinet level. There will be no other channel through which applications will be accepted. Please also feel free to copy Mona Sutphen who will be tracking your applications at: REDACTED, with any resumes and materials you submit in the official channel.

Finally, and importantly, we ask each of you please do not under any circumstances speak to the press, any foreign officials, or embassies on behalf of the transition or President-elect Obama. Please also do not encourage solicitation of such contacts. We cannot emphasize enough the importance of this request. It would be highly damaging for foreign governments or media to receive information that they believe falsely to represent the views of the President-Elect.

If you receive any inquiries, please refer them to:

Dan Pfeiffer, REDACTED (for press inquiries)

Denis McDonough REDACTED or Mark Lippert REDACTED (for any inquiries from foreign officials and embassies)

Their new email accounts should be active by next week.

Thank you again for all that you have done to help make this historic moment possible.

Susan and Tony

A reminder of the Washington truism not to write anything that you don't want to see in the Washington Post the next day...

BTW, If Google's electronic news clippers are pulling names from blog posts for Obama, I'd like to see Susan Rice as Secretary of State. If not Rice, my other candidate is Bill Richardson--he has experience as UN ambassador, energy secretary, and governor. Richardson might send a strong signal to Latin America that the USA takes anti-American developments in the Western Hemisphere more seriously than President Bush appears to have done...

More information on Obama foreign-policy aide Mark Lippert in this Newsweek article. Wikipedia entry here.

A little bit on Dennis McDonough here. I see from the bio that he worked for Sen. Tom Daschle for years...perhaps Sen. Daschle is in the running for Secretary of State, as well?

Rik Freeman at the Arts Club of Washington, DC

The walls at Friday's Arts Club concert yesterday featured big paintings by Rik Freeman. I liked them, they reminded me of Thomas Hart Benton's murals, full of 1930s intensity, substance, as well as style. Well worth a visit. My favorite is Moses Train.

Goldendoodles.com

From the Goldendoodle website, the breed sounds like a perfect puppy for an Obama White House, IMHO:

The Goldendoodle gets its name from its mixed heritage - golden retriever and poodle. Goldendoodles are a hybrid dog, a first generation cross, and as such they exhibit "hybrid vigour". the term used to describe the burst of fertility, good health and growth that is seen in the progeny when two unrelated breeds are mated.

Goldendoodles were first deliberately bred in North America as a larger version of the popular Cockapoo around the mid 1990s. Their non/light shedding coats and ability to live with families with allergies has made them very popular companions.

W

In addition to taking us on a Chicago Barack Obama tour last weekend, Bob and Mary brought us to a screening of Oliver Stone's W in a Rogers Park arthouse. The film was a little long--one of our guides snored a bit--but overall, thought-provoking and strangely sympathetic. It was a serious attempt to explain the Bush Presidency in the context of an Oedipal struggle between father and son. George H.W. Bush (James Cromwell) is the hero of the story (does anyone remember that his Presidency had big problems?), while George W. Bush was portrayed by Josh Brolin as a prodigal son. Stone took Bush's "I'm the decider" line seriously. In this picture, Dick Cheney (Richard Dreyfuss) is a servile yes man who pulls troops out of Iraq for Bush 41 while he goes all the way to Baghdad for Bush 43--a departure from Washington conventional wisdom that Cheney tells Bush what to do. There's also a glowing depiction of Laura Bush (Elizabeth Banks), and a harsh portrait of Barbara Bush (Ellyn Burstyn, who's really nice in real life, she was kind to me years back when I worked as a PA on one of her TV movies). Brolin's Bush is loveable, which is a nice piece of acting work. He really believes in Jesus, he really prays, he really has malice towards none, he really wants to do what's right. He really cares when he visits wounded soldiers. The tragedy is that W's just not up to the job.

After watching the film, it occurred to me that if Oliver Stone is so kind to Bush now, then perhaps history might be even kinder. After all, for all his mistakes, Bush essentially purged the Republican party of the Pat Buchanan wing and appointed both Colin Powell and Condoleeza Rice Secretaries of State...in a sense, paving the way for Barack Obama's run for the White House.

Here's a link to Oliver Stone's MySpace page.

What Next for Obama?

The election is over. The transition has begun.

All Washington wonders this morning what Obama will do next. His transition headquarters is already furnished and ready for business, thanks to the acting administrator of the GSA. Who will fill the cubicles there--and who will get the 3,000 political patronage jobs in the plum book (aka "United States Government Policy and Supporting Positions")--are questions still to be answered. Only one thing is certain:

Texas is out, Chicago is in.

Why Obama Won...

It was the youth vote, according to This 'n That:

With the aid of the Hispanic vote in Colorado, New Mexico, and Nevada, Barack Obama becomes the 44th President of the United States. He is also the first African American who will reside in the White House on Pennsyvania Avenue come 20 January 2009. Election 2008 was far from being a repeat of the 2000 and 2004 elections that were stained by controversies about hanging chads and insinuations of corrupt voting practices in Florida in 2000 and Ohio four years later.

Barack Obama began to build a commanding lead of electoral votes soon after polls began to close on the east coast and never faltered. Once Pennsylvania turned a dark shade of blue, a hotly contested state along with Ohio and Florida, a win for Barack Obama had become a near certainty. And then Florida and Ohio gave up their electoral votes to the popular democratic candidate, two states that had put current President George Bush over the top in 2000 and 2004 respectively.

Change has occurred. Young voters below the age of thirty turned out to vote in large numbers. Hence, the face of the voting public has also changed. No longer do the faces resemble over thirty, white, middle and upper middle class faces that have essentially lived in a vacuum of among their own kind. Young voters of today have been and are constantly exposed to, and intermingle with varied groups of people of varied races, ethnic and religious groups. They exchange thoughts and ideas about the current state of global affairs. They are far from being nationalistic by any stretch of the imagination. What has empowered the youth of today to be more curious, informed and eager to participate in order to make a difference, a change, is access to the internet. It is a fast and efficient way of accumulating information. Some of it not all that accurate. Still their faith in what they read and visualized online never caused them to waiver in their support of the man who they believed could and would bring about the kind of change they want to see. They genuinely care about quality of life they desire to live in the next four years and possibly beyond.

I Voted...

...in person, at my local polling place, on Election Day. As the old advertising jingle used to say; "The Only Way to Fly!" Here's an excerpt from Hank Steuver's defense of this tradition from today's Washington Post:

For now, the "I Voted" sticker remains gloriously the same. Oh, some jurisdictions may dress it up -- Prince William's sticker is much jazzier than the District's simple white circle with the red "X" in the box -- but the message is clearer than ever: I kick it old school. I waited in line with everyone else on the appointed day, because "everyone" is the whole idea. The "I Voted" sticker has been around a long time, at least five election cycles. (A Florida manufacturer claims to have been making "the original" version since 1986, but it probably goes back further.)

The District of Columbia Voter's Guide showed up several days ago in our mail, and on the front cover was a cartoon of a ballot and a pencil holding hands and jumping happily. There was something rudimentary and childlike, almost Hello Kitty about them. It made it feel like social studies class. It's dorky cool, more cool than watching Kirsten Dunst vote early. "You complete us," read the cute words beneath the Pencil and the Ballot, in a retro '70s-style italic. What followed was 57 sober pages of instructions, rules, sample ballots, statements from candidates and long lists of potential advisory neighborhood commissioners.

There's so much to love about the standing part today, amid all the drab beige, taking in the smell of someone else's coffee, rereading the entire newspaper, stuck in the line of voters that doesn't seem to move but, in fact, does. Then comes the sticker.

What a wonderful and boring thing, voting together.

Barack Obama's Baby Pictures

And more, like this one from his prep school, on the Chicago Tribune website today.

The Huxtable Effect

Forget the "Bradley Effect." Alisa Valdes-Rodrigues argues in this article that the key to the 2008 Presidential election may be the "Huxtable Effect" created by Bill Cosby's TV sitcom.

My Tour of Barack Obama's Chicago Neighborhood

Just came back from Chicago, where I learned that Obama lives in an old Jewish neighborhood named "Kenwood." Here are some photos from the walking tour we got from our friends Bob and Mary...

In front of Barack Obama's house, with someone I know:

From Chicago Barack Obama Tour

The shul across the street from Obama's house, the KAM Isaiah Israel Temple :

From Chicago Barack Obama Tour

Our tour guides in front of Obama's house:

From Chicago Barack Obama Tour

Yours truly in front of the home of William Ayers, Jr. and Bernadine Dohrn:

From Chicago Barack Obama Tour

Coffee and grits at Valois Cafeteria, where Barack Obama has eaten many meals:

From Chicago Barack Obama Tour

Yours truly in front of the Valois Cafeteria (a Radio France International reporter was doing interviews inside):

From Chicago Barack Obama Tour

Yours truly in front of the Hyde Park Hair Salon, where Obama gets his haircuts:

From Chicago Barack Obama Tour

Inside the Hyde Park Hair Salon, with European TV crews:

From Chicago Barack Obama Tour

The HQ of Jesse Jackson's "Operation PUSH" (in a former synagogue):

From Chicago Barack Obama Tour

For more background on Obama's neighborhood, someone I know who took the tour with me sent links to these articles from The Chicago Tribune and The Star.

Vote for Obama...

I saw the ad last night...good enough for me--especially Obama's pledge to finish the fight against Al Qaeda and the Taliban, as well as rebuild the American military. The rally left me flat. I think he's better talking to the camera than speechifying to crowds. Luckily, that's what the President needs to do most.

Two items not mentioned in the ad I'd like to see Obama push for: I hope he ends "contracting out" in both military and civilian sectors (no more "permatemps" or mercenaries)--as well as reinstates usury laws, which once upon a time put caps on interest rates for things like credit cards and "payday loans" to reduce bankruptcies, which would directly benefit working Americans.

The World's Smartest Beagle?

Someone I know saw this on Althouse, and I couldn't resist reposting it here:

Agustin Blazquez on the Problems of Cuban Cinema in Exie

THE WALLS ENCIRCLING THE CUBAN FILMMAKERS IN EXILE © 2008 ABIP
Speech by Agustin Blazquez at the VII Annual Congress of the New York Cuban Cultural Center at the New York Film Academy on Saturday, October 25, 2008.
Translated with the collaboration of Jaums Sutton.

My name is Agustin Blazquez. I write and make documentaries about Cuba. I was born in Cardenas, Matanzas, Cuba and grew up in the towns of Coliseo and Limonar, and later on I lived in Havana. In 1967, I unwittingly became a member of what I call “the most openly hated minority in the U.S.”

Even though ours is the most prosperous minority in the U.S., we are politically incorrect. It is all right to humiliate and insult us politically and nothing happens – certainly, no one ever apologizes.

Like the “military circles” technique that Castroites used in the Escambray and Los Organos mountains for almost seven years to crush the Cuban democratic insurgency, the same technique is being used by the prevalent left in the U.S. against the Cuban filmmakers in exile.

Crushing democracy is difficult there and here. It’s still not completely crushed there after 50 years and is certainly strong as ever in the hearts of the exiles here. We continue riding, taking our Don Quixote quest wherever we can.

Since my arrival to the U.S. in 1967 I was surprised to see on TV and the written press what was being said about Cuba. And surprised by the sympathies of school teachers about the Cuban revolution. I began to understand the massive ignorance of our reality.

Soon I realized that as an exile I still faced that formidable enemy, Fidel Castro, but also the press and the U.S. academic world.

Beginning in 1968 I began to write letters to the mainstream media, trying to clarify their errors and guide them to sources of information where they could find the accurate reality of Cuba. After years of receiving only silence as their reply, I decided to write articles. But not directed to the media—it become obvious that the truth about Cuba was not what they were interested in.

I knew I needed to write to the American people – a people who have shown compassion for those repressed. My audience was certainly not Cubans, because we know very well the story because of our firsthand experience in Cuba. We have chosen to live in the U.S., therefore our fight must be focus to the American public opinion that is so misinformed and mislead about survival in the surrealism of Castroland.

With the invaluable collaboration and dedication of one American, Jaums Sutton, who has been editing my articles and who later overcame the annoying technical aspects of making documentaries, more than 300 articles and six documentaries saw the light. The first documentary, COVERING CUBA was premiered at the American Film Institute at the Kennedy Center in Washington, DC in November 1995.

The circles of the U.S. left have been getting tighter than the U.S. Embargo. In August 2004 the American Film Institute rejected my third documentary of the series about the case of Elian Gonzalez because it considered it to be “too controversial.” However, they didn’t have objection to instead show Michael Moore’s documentary Fahrenheit 9/11.

The preferred prejudiced predilection for Moore is not just monetary. He belongs to the prevalent reactionary left in the U.S. that control the worlds of the information media, the cultural and academic elites of this nation.

It was during the Elian affair that this hatred and resentment against us was clearly demonstrated through derogative epithets in the editorial commentaries and articles (including by Michael Moore), political cartoons (like the ones of the late Herblock in The Washington Post) and TV reports about Cuban exiles presented in a negative light to the public opinion in the U.S.

The radical encircling rejection against the Cuban American exile filmmakers is easy: just declares as right-wingers, Batista supporters and all that repertoire of negative epithets openly dedicated to us by the mainstream media and the cultural and academic elites in the U.S. I don’t think the majority of us are like that. At least in my case I am an Independent.

The Cuban American filmmakers in exile are mainly rejected from film festivals – for as long as we present the reality of the Cuban tragedy. Let’s be clear: if we do something that favors the Castro regime, then, they open the doors. That’s why I don’t even bother to send my documentaries to film festivals, because first, they steel my fee money and second, they reject it.

I am very straight in my principles, therefore, why should I patronize to our own detractors? So, I only go to film festivals when I am invited.

As a writer and filmmaker in the U.S., I have plenty of freedom to make a film or to write whatever I want. I am not censured to do what I please. But, the thing is that with their cunning “gentlemen’s agreement” of rejecting or simply ignoring what we have to say, they are censuring our message and not allowing it in the form of films, documentaries, books or articles to reach the American public.

In other words we are effectively blocked. It is a real blockade as effective as Castro’s blockade against information and popular incentive in his fiefdom.

Therefore, the mainstream media and the cultural and academic elites are using the same Castro techniques against us in the U.S.

We are also rejected from grants since the majority of these institutions have been effectively infiltrated by those elements limping from the left leg. So we don’t have much support for our projects and we have to end up using money of our own pocket, our initiative, our dedication and doing the work “for the love of art” – in this case our love for freedom, democracy, justice and human rights.

Also – unfortunately – we don’t have much support from our own exile community. In my opinion we still haven’t learned to fight using the arms that our documentary and fictional film productions offer.

In addition to the cases of censure of Nestor Almendros – who I knew in Paris in 1965 – and Jimenez Leal, there is the case of Leon Ichaso with his film Bitter Sugar that was rejected and ignored by Hollywood. Ichaso had to do it with a very low budget. But, he was able to produce an extraordinary production with great acting and photography and a clear presentation of reality. And the case of Andy Garcia’s film The Lost City that suffered due to a lack of funds. Where are the rich Cuban exiles when there is work to be done?

By talking a lot in Miami or in New Jersey this wall that encircles us will not be broken.

The images can bring our message further than our words to each other. We need from our community the same support that the left offers to Michael Moore.

Our productions cost money and if our own community doesn’t help, who is going to do it?

For my seventh documentary of the series COVERING CUBA a non-profit corporation was founded. Its name is UNCOVERING CUBA EDUCATIONAL FOUNDATION (UCEF)*. Since November 2007 to date we have a total of $2,093.70! You can laugh.

Well, this is better than nothing. However, most of Cuban Americans exile filmmakers are on the same train as I am. So I ask you, what can you do with that?!

But, for now, I continue doing the work I feel compelled to do.

© 2008 ABIP

An African-American McCain Supporter

From This n That:

Say you do go to the polls to cast your vote. Which candidate, Barack Obama or John McCain, would get your vote?

After a long period of silence and deep thought:

"McCain."

You've said John McCain. Is that correct?

"Yes. Senator John McCain."

Without making assumptions about African Americans typically voting Democratic, may I say that your answer does come as a bit of a surprise.

"Why does it? Because you're not African American, you don't understand."

No dispute there. Though pollsters, and they are not completely accurate, have said that Barack Obama has a definite lead over John McCain among potential African American voters.

"That's right. They are not accurate. Nobody's ever talked to me. You're the first. And I have to tell you that I'm not comfortable with speaking about my politics or religion in public. I believe they should always be kept private."

Understood. But might we continue, with the understanding that you may end this interview whenever you wish?

He nods his agreement.

Good. Now the compelling question here and now is why Senator McCain and not Senator Obama?

"Simple. Republicans always speak their minds. Even the late Reverend Dr. Martin Luther King, Jr. said as much."

Sorry...

"Am I allowed to speak bluntly here?"

Of course. You will not be censored.

"I've been called more niggers, and it's the last time I'll use that hateful word, more times by more left leaning, sympathetic Democrats than I have by conservative, right wing Republicans. But they never said it to my face. No. They always had a smile and a handshake for me whenever we were face to face. I'm talking about liberal Democrats now."

That's a rather inflammatory statement to make.

"Well, it's true. I come from a place where the Klan was king, a so-called 'red' state. Yet I believe I received as good an education in high school that the white students got. And it was an integrated, predominately white school."

Could you to be more specific? Where and what period of time are you speaking of?

"I won't say where, but I'm talking about the fifties and sixties. Yes, some did call me that name I won't repeat. And 'colored' folks, as we were called then, weren't allowed to eat in certain restaurants. So the racists and racism were always around. But at least I knew where I wasn't wanted"

To clarify what's been said here, are you saying that Democrats where you lived were less accommodating than Republicans?

"Let me be more direct. A Democrat would talk to me, tell me how sorry they were to see how the 'colored' folks were being treated. But could we live among them? Would I be invited to their homes for dinner or parties? Would they permit their daughters or sons to date outside their race? Now, they never said as much directly. They were too smart for that. And they're even smarter today. So the sixties did teach them something. But you see, I'm not talking about where I grew up. I'm talking about a 'blue' state."

Again, which state are you referring to?

"Where I live now. If you know where, I don't want you to print it. All right?"

Agreed. Though there may come a time when it will all come out.

"I'll deal with it then."

Please, continue.

"I mean when I came here I could not find a place to live. Because I was a student then, I was told by apartment managers that they didn't rent to students. We both know how ridiculous that sounds. A bank called police when they saw the size of a check I wanted to deposit. A cashier's check. The issuing bank's president had to verify the check before they would honor it. Where and when have you heard of that? Now I'm not saying that all these people were Democrats. I knew nothing about their politics. But the state as a whole has always been known as liberal, more progressive than most states. That's what I expected to experience. What I'm trying to say is that I always knew where I stood where I came from. So I always knew what I had to do to get around certain obstacles. But when you don't know..."

And it's the reason John McCain could get your vote.

"Nothing against Barack Obama now. He seems like a good man. I think. But he's just one. And just because he's an African American and a Democrat, doesn't mean things will get better for African Americans if he becomes president. His burden will be a mighty one....

Lionel McClelland Recites Robert Burns' "Ode to a Haggis"

Scribd

I found this interesting new (to me) self-publishing website while Googling Obama's Blueprint for Change. Along with other Obama documents, it's been uploaded to Scribd on "iPaper"... Now that's change I can believe in.

Roubini Predicts...

Global Stagflation...the economist of the moment is nicknamed Dr. Doom (ht Drudge).

My Drawing Will Be in the Festival des Artistes III

It's called "Two Pears" and is done in Conte crayon on paper. I've put a link on my Facebook page. Co-sponsored by The Hospitality and Information Service and the Embassy of Haiti, Festival des Artistes III is a free, non-juried exhibition of art by diplomats and THIS members, hosted by Lola Poisson, artist spouse of Ambassador Raymond Joseph. Artists from around the world have contributed to this show, which is free and open to the public. It takes place November 1st & 2nd at the Haitian Embassy in Washington, DC, located at 2311 Massachusetts Ave NW.

What Will Obama Do?

We don't have to guess. Obama and Biden have published their Blueprint For Change on the Web. It's a mixed bag. I don't like everything, but overall it seems thoughtful, although not as original or imaginative as Bill Clinton's program, Mandate for Change.. Still, it's not a bad start, and hopefully Obama is open to discussion--unlike Bush & Cheney.

For example, here's what Obama and Biden have to say about Russia:

A Comprehensive Strategy

Russia today is not the Soviet Union, and we are not returning to the Cold War. Retrofitting outdated 20th century thinking to address this new 21st century challenge will not advance American national interests. Instead, Obama and Biden will address the new challenges Russia poses by pursuing an integrated and vigorous strategy that encompasses the entire region. The core components of this strategy include:

• Supporting democratic partners and upholding principles of sovereignty throughout Europe and Eurasia while working proactively to gauge effectively the intentions of actors in the region, and address tensions between countries before they escalate into military confrontations.
• Strengthening the Transatlantic alliance, so that we deal with Russia with one, unified voice.
• Helping to decrease the dependence of our allies and partners in the region on Russian energy.
• Engaging directly with the Russian government on issues of mutual interest, such as countering nuclear proliferation, reducing our nuclear arsenals, expanding trade and investment opportunities, and fighting Al Qaeda and the Taliban; and also reaching out directly to the Russian people to promote our common values.
• Keeping the door open to fuller integration into the global system for all states in the region, including Russia, that demonstrates a commitment to act as responsible, law-abiding members of the interna- tional community.

I like the part about joining with Russia to fight the Taliban--right now I think the Bush administration and the British are trying to negotiate a deal with the Taliban, so if Obama sticks to this point, it could mark a real change...

Wiktionary

Just found this:

Wiktionary (a portmanteau of wiki and dictionary) is a multilingual, Web-based project to create a free content dictionary, available in over 151 languages. Unlike standard dictionaries, it is written collaboratively by volunteers using wiki software, allowing articles to be changed by almost anyone with access to the Web site.

Like its sister project Wikipedia, Wiktionary is run by the Wikimedia Foundation. Because Wiktionary is not limited by print space considerations, most of Wiktionary's language editions provide definitions and translations of words from many languages, and some editions offer additional information typically found in thesauri and lexicons. Additionally, the English Wiktionary includes Wikisaurus, a category that serves as a thesaurus, including lists of slang words,[1] and the Simple English Wiktionary, compiled using the Basic English subset of the English language.

Don't Blame Greenspan...

(paintings by Erin Crowe)

Someone I know pointed out that when Alan Greenspan stepped down as Federal Reserve Chairman a couple of years back, he did so under heavy political fire from Wall Street, the mortgage industry, and Congress--because he had been raising interest rates to slow the economy. Ben Bernanke--with the approval of Congress, Wall Street, and the press--reversed that Greenspan policy, opening the spigot to easy money that kept the bubble growing until it burst. So despite the theatrics in Congress yesterday, Greenspan can't be blamed for the mess we're in right now.

Bush can be blamed. Paulson can be blamed, Bernanke can be blamed. Wall Street can be blamed. Even Congress can be blamed.

Much easier than taking responsibility is for all of the above to scapegoat Greenspan--who presided over a tremendous period of growth in the US economy during the Clinton administration and kept things from collapsing after 9/11. In his testimony yesterday, Greenspan admitted making mistakes. That's more than I've heard anyone else do. Personally, it seems to me his biggest mistake was resigning under pressure to lower interest rates. He should have stood fast and defended the independence of the Federal Reserve against political pressure from Congress and the White House. But I'm sure Alan Greenspan, an Ayn Randian and Libertarian at heart, could not believe that business leaders would corrupt the entire system with phony bond ratings to the point where, as Anna Schwartz told the Wall Street Journal, the problem is that no one believes anything anyone on Wall Street or the US Treasury says anymore.

Businesspeople have gone from being "wealth creators" to "wealth destroyers" in the popular imagination. And honestly, if they are "wealth destroyers" why shouldn't they be heavily taxed? Of course it is time to "soak the rich." After all, they've just hosed the rest of us, haven't they? Why should they get away with it, laughing all the way to the bank? As Bob Dole used to ask: Where's the outrage?

IMHO Barack Obama has not been aggressive enough against what President Roosevelt (Republican Teddy Roosevelt, for all you McCain supporters out there who claim he's another T.R.) called "the malefactors of great wealth" (possibly because many donated to his campaign). Yet the American people are mad, and they want someone to the pay the price. This collapse did not happen on Greenspan's watch, and it is disgraceful that the media is permitting him to be scapegoated when guilty parties--including Paulson, Bernanke, Bush, Dodd, Frank, and Schumer have been given a pass...

Product Review: The New Google G1 Phone

This afternoon someone I know and I went to the T-Mobile store in NW DC to take a look at the new Google G1 phone. There was only one working model in the shop, and the salesman took a while to get it going. He didn't have one himself (he had a Nokia) and didn't seem that enthusiastic about the "cool" features. The case looked flimsy and plastic, the slide-up keyboard looked just like a Sidekick to this novice. The GPS function didn't work--the salesman said it was because we were indoors, but according to today's Washington Post, the real reason is that T-Mobile's Washington, DC 3G network is still under Defense Department control. Even without the 3G feature, the look and feel of the G1 just made me want an iPhone more...but I'll have to wait, because as a former New Yorker who grew up in the era of Ma Bell's monopoly, I still cannot buy any product that says AT&T...

Since I couldn't really use the G1, I won't rate it--and I wouldn't buy it, either. I'll wait for Apple to open up the iPhone (no hacker, I).

UPDATE: A reader comments...

I have a G1 On loan from T-Mobile. I like it. The GPS works great. The
browser loads faster than the iPhone. And it's cheaper! Someone I Know has
an iPhone, and it's nice too. To undeerstand what it's all about, read this
article in Wired:

http://www.wired.com/techbiz/media/magazine/16-07/ff_android

Product Review: The New MacBook

Someone I know just gave me a new 13-inch Apple MacBook laptop for an early birthday present. I've been using it since last Saturday--the souped-up 2.4 GHz model with extra memory. I love it! I love the keyboard that lights up in the dark. I love the built-in camera and microphone for using Skype. I love the giant trackpad that's one big button. I love the one-piece metal body. I love the look and feel of it. I haven't had a Mac laptop since 2003, when I left my old black MacBook in Tashkent. Since then, I used a Fujitsu LifeBook. It was sort of blocky, clumsy and had a Microsoft operating system that just got slower and slower and slower and slower until I'd had enough. Even though the MacBook weighs 4.5 pounds instead of 3, it is so beautiful to look at and and fun to type on that I just can't stop playing with it. And it costs less than my MacBook did in 1999...

So, my advice is run out and buy one--today.

Rating: Five Stars ***** (Our top rating)

(Full disclosure, I am an Apple stockholder.)

Wired Magazine: Quit Blogging Now!

Listening to our daily BBC Radio 4 Best of Today podcast, we heard a panel discussion about an article by Paul Boutin in Wired Magazine that says Twitter, Flickr, and Facebook--plus an invasion by professional journalists--have made blogging obsolete:

Thinking about launching your own blog? Here's some friendly advice: Don't. And if you've already got one, pull the plug...

IMHO, not yet.

Sen. Sam Nunn: Let's Not Be Beastly to the Russians...

Yesterday, I attended a panel discussion entitled "ASSESSING U.S. POLICY TOWARD RUSSIA IN THE WAKE OF THE RUSSIA-GEORGIA CONFLICT" at Georgetown University's Center for Strategic and International Studies featuring Presidential debate host Bob Schieffer of CBS News and Texas Christian University. The room was packed. Schieffer had just moderated the Presidential debates, and was in fine form. The other panelists were Jim Hoagland of the Washington Post, Andrew Kuchins of CSIS, and former US ambassador to Russia Andrew Vershbow. They all made conciliatory noises towards Russia, saying that America should understand that Russia wants money and influence as well as respect as a great power. After Georgia, this sentiment needed to be taken into consideration. Not what one usually hears in Washington...

I couldn't understand what was going on until the last minute, when Schieffer called on former Senator Sam Nunn (D-GA), who was seated in the audience a few rows behind me. At first he demurred, but when Schieffer pressed him--like Julius Caesar--he offered a detailed speech calling for US cooperation with Russia on nuclear non-proliferation and other important issues. I couldn't determine if Nunn was now working as a lobbyist for Russia, or was only speaking on his own behalf. Nevertheless, it gave me the idea that the purpose of the exercise was to signal that any future Democratic administration under a President Obama would revisit the nature of the US-Russian relationship, given that the panelists echoed Nunn's sentiments and that Nunn is among the most "hawkish" Democrats still around Washington (excluding Joe Lieberman, booted by his party in Connecticut in favor of Ned Lamont).

More on the event at the CSIS website, including audio and video.

Scott Hutchison at Georgetown University

My drawing teacher, Scott Hutchison has a show at the Georgetown University art gallery--here's his video about it from YouTube:

Carl Holzman at the Maple Avenue Gallery

Coming to Maple Avenue Gallery in Evanston, Illinois--November 21st-December 19th--Carl Holzman's "Still Lifes 2008" (should it be "Still Lives"?)

Florida is clearly in play...

Someone I know sent me a copy of this email from Barack Obama to her mother:

I'm coming to Orlando tomorrow, Monday, October 20th.

I'll be holding a rally with Senator Hillary Clinton and talking to folks about what we can all do together to change this country.

See the details below and RSVP for the event:

http://fl.barackobama.com/OrlandoChange

Hope to see you there,

Barack

P.S. -- Here's the invitation for the event:

This Monday, October 20th, please join Barack Obama and Hillary Clinton in Orlando, where Barack will talk about his vision for creating the kind of change we need.

Early Vote for Change Rally
with Barack Obama and Hillary Clinton

Amway Arena North Staircase
600 W. Amelia Street
Orlando, FL 32801

Monday, October 20th
Gates Open: 3:00 p.m.
Program Begins: 6:00 p.m.

http://fl.barackobama.com/OrlandoChange

This event is free and open to the public. Tickets are not required; however, an RSVP is strongly encouraged. Space is available on a first-come, first-served basis.

For security reasons, do not bring bags or umbrellas. Please limit personal belongings. No signs or banners permitted.

Paid for by Obama for America

Here's a link to local media coverage of the event on Channel 13.

Return to Kibbutz Na'an: A Video Documentary

After 36 years, Pierro returns to his kibbutz with this filmmaker, to show him where he spent the gap year between high school and college...

James Grant: Wall Street Lied

James Grant was on 60 Minutes last night:
.

Simultaneously Grant published this critical op-ed in the Washington Post yesterday. Inquiring minds want to know. How come he wasn't on the 60 Minutes and in the Washington Post the week before the second House vote? Do you think Grant's point-of-view might have changed some minds in Congress, even with a "sweetener" Wooden Arrow Tax Exemption included?

When, in 2006, the roof began to fall in, Wall Street was in a quandary. It held outsize volumes of triple-A-rated mortgage-backed securities (MBSs). That they were not, in fact, triple-A, had become painfully obvious. Curious analysts consulted the financial statements of the top mortgage dealers, including Bear Stearns, Goldman Sachs, Lehman Brothers, Merrill Lynch and Morgan Stanley, for clarification.

Readers, however, found no clarification and no foreshadowing of the troubles to come. Neither in Bear's year-end 2006 report (10K, in Securities and Exchange Commission jargon) nor in its March 31, 2007, quarterly filing was there a meaningful word of warning about the sagging prices of the MBSs that did so much to pull Bear down. Those seeking to learn Merrill's exposure to the mortgage contraptions called collateralized debt obligations, or CDOs, were similarly stymied. Although Merrill was to write off $23 billion worth of CDOs in 2007, the phrase "collateralized debt obligation" did not appear once in its 2006 10K.

Because there was often no market for these idiosyncratic securities, Wall Street did not have to value them at market prices. Rather, it marked them "to model." That is, it assigned them prices at which they would trade, according to one mathematical construct or another, if they could trade. Of course, these mathematical constructs tended to cast things in a cheerful, management-approved way. Only later did a telltale plunge in the value of traded mortgage indices open the eyes of the market to the full extent of the troubles.

Prices can be unwelcome pieces of information. When an especially unwelcome batch wells up after a financial collapse, governments try to quash it. So it is today. The SEC has suppressed short selling. The bailout bill will open the door to the suspension of market-value accounting. The Fed is moving heaven and earth to cheapen the value of the dollar.

Long after the crisis burst into the open, the Fed and Treasury downplayed it. It was, they insisted, "contained." Last week they asserted that, unless the House voted "yea," the wheels would come off this $14 trillion economy. President Bush himself has broadly hinted that the nation is on the cusp of disaster.

How can they be so sure? And how can they know that the unintended consequences of the radical policies they are pushing through won't be worse than the panic that they themselves are helping to foment? When the Fed insists it has no choice but to print up hundreds of billions of new dollars and when the keepers of accounting standards bend in the face of criticism that market prices hurt, what they are really saying is the that financial truth is too awful to bear. Heaven help us all if they're right

Bailout a Victory for Al Qaeda?

That's what one of the terrorist group's leaders said in a video released yesterday, according to JihadWatch. Did anyone think of the aid and comfort it would give America's enemies when Wall Street and the US Treasury Department came up with "The Sky Is Falling!" strategy? Heck of a job, Hank Paulson...

CAIRO, Egypt (AP) — An American member of al-Qaida pointed to economic troubles in the United States as proof that "the enemies of Islam" face defeat, in an English-language video released Saturday.

In a half hour video message, California-native Adam Gadahn urged Pakistanis to unite against their government and U.S. forces, and taunted Americans over their economic crisis, relating it to their military interventions.

"The enemies of Islam are facing a crushing defeat, which is beginning to manifest itself in the expanding crisis their economy is experiencing," said Gadahn, in a clip of the message distributed by the SITE Intelligence Group, a Washington-based monitor of militant Web sites.

"A crisis whose primary cause, in addition to the abortive and unsustainable crusades they are waging in Afghanistan, Pakistan, and Iraq, is their turning their backs on Allah's revealed laws, which forbid interest-bearing transactions, exploitation, greed and injustice in all its forms." [...]

Gadahn also urged Pakistanis to unite and establish an Islamic state..

Destroying the US economy was one of Bin Laden's stated goals. Blowing up the World Trade Center couldn't do it--but this bailout just might...

Arnold Kling: Bailout Worse Than You Think...

Someone I know referred me to this blog post critical of the bailout by well-known economist Arnold Kling, who coincidentally also was at Swarthmore College when we were there, a senior when we were freshmen...

No major newspaper would run any op-ed from me. I gave up and sent one to American.com, which you can see here. The bottom line:

The financial bailout isn't as bad as Main Street thinks. It's worse.

I think I'll just paste the other one below the fold.

Next, I am going for a long bike ride. You might want to look up a quote from August 1914 about "the lamps are going out all over Europe. We will not see them lit again for a long time." I'm sure a commenter will be able to locate the exact quote and the speaker, an English minister whose name eludes me.

Much of Europe was happy and optimistic when war was finally declared. Many people are happy today that war that has been declared on free markets. Looking at the bright side, it could be worse. This war does not involve sending millions of young men to fight in trenches and launch human wave assaults against machine guns.

Stop the Bailout Dot Com

from stopthehousingbailout.com

Meow! Meow! Meow! Arianna Huffington on Sarah Palin's Debate Peformance

From HuffingtonPost.com:

The only subject on which Palin displayed superior knowledge was when she corrected Biden on the proper delivery of "Drill, baby, drill!" Christie Hefner thought Palin's sex-tinged twist on the chant should be appropriated for a commercial. Perhaps for Viagra.

Other than that, Palin's grasp fluctuated between wafer thin and skin deep. The moment that most drove me to want to send her a book on Greek gods and heroes was her head-scratching response to the question about her Achilles heel. She apparently didn't know what that meant since she spent her allotted time listing all of her attributes as opposed to her most glaring weakness.

Warning: Your Cell Phone May Be Haunted...

At least, that's what I think Mark Horowitz may mean, in this post from his blog, Haunted Screens.

Biden v Palin: Biden Won on Points

No links for this, must more pure personal reaction. Palin did OK, but a little too much Energizer Bunny fembot reciting talking points to have won, goshdarnit! (wink) She really believes in that GREAT AMERICAN HERO: John McCain, David Petraeus, her brother the schooteacher, whomever. As Joe Biden once said in moment of truth (called a "gaffe" by Washingtonians), Palin's pretty, which made her easier to look at--except when her smile dropped, her lips tensed, and she seemed about to scowl, SCARY! Luckily, she usually recovered he beauty-queen poise (see below).

Biden came across as an old pol...not 100 percent credible, but, on the other hand, able to think on his feet. He looks like he had one too many Botox injections on his forehead--bring back some wrinkles please, so we can see expression on what otherwise looks like a rubber mask--but he did show some emotion in a corny "choking up" moment, which worked to humanize him. He actually seemed more real than Palin. Plus the God Bless Our Troops ending was good.

Best of all was Biden saying that McCain was not really a maverick (he really meant that the OLD John McCain was a maverick, while the NEW John McCain running for President is a Bush water-carrier). That took some wind out of Palin's sails. I also liked Biden saying he changed his mind about judicial ideology in the Bork hearings, a way of getting the abortion issue into the debate.

Nice to see that Palin supports gay rights along with Biden! That clarification during the debate should cheer the Christian base of the Republican party no end. Somehow the discomfort showing on Biden's face made him appear more conservative on this issue than Palin, at least to this observer... We'll see how this plays in Peoria--or Michigan.

Meanwhile, Biden turned out to be tall, and Palin turned out to be short! That's always interesting. Palin had a bit of a hunch. She might want to consider taking classes in the Alexander technique...

One thing missing--a discussion of prinicples. Palin was a hero-worshipper, Biden seemed a deal-maker. What's needed is an injection of priniciples into the race, rather than ideology or hero-worship. Principles are what enable people to make rational decisions and plans for new situations, and the President always faces a new situation...

On to the Presdential debates next week.

UPDATE: Snap polls seem to show that the majority of Americans feel the same way I do.

Sarah Palin's 1984 Miss Alaska Swimsuit Competition

Ann Coulter on Why Obama Supports the Bush-Paulson Bailout

From AnnCoulter.com:

Obama was not merely wrong on Fannie Mae: He is owned by Fannie Mae. Somehow Obama managed to become the second biggest all-time recipient of Fannie Mae political money after only three years in the Senate. The biggest beneficiary, Democratic Sen. Chris Dodd, had a 30-year head start on receiving loot from Fannie Mae -- the government-backed institution behind our current crisis.

The Economists' Voice: The Bailout is Bad, Paulson is Wrong

I just received an email from Nobel Prize-winning economist Joseph Stiglitz calling my attention to some items that readers of this blog might find of interest--especially given the unfortunate vampire-like undead Paulson bailout bill now in the Senate. Here's the table of contents:

Columns
PDF
Good Bailouts and Bad
David O. Beim
PDF
Please Think This Over
Edward E. Leamer
PDF
A Better Plan for Addressing the Financial Crisis
Lucian A. Bebchuk
PDF
Auction Design Critical for Rescue Plan
Lawrence M. Ausubel and Peter Cramton
PDF
What if the Median Voter Were a Failing Student?
Bryan Caplan
PDF
Questioning the Treasury's $700 Billion Blank Check: An Open Letter to Secretary Paulson
Aaron S. Edlin
PDF
Dr. StrangeLoan: or How I Learned to Stop Worrying and Love the Financial Collapse
Aaron S. Edlin
PDF
Why Paulson is Wrong
Luigi Zingales
PDF
Investment Banking Regulation After Bear Stearns
Dwight M. Jaffee and Mark Perlow
PDF
Turn Left for Sustainable Growth
Joseph Stiglitz

And here's the link to The Economist's Voice, where one may download the articles in PDF format (I wish they were in HTML to read online). I assume some Congressmen and Congresswomen should be placing these in the Congressional Record, if forced to vote on the bailout bill again, so you may be hearing more about Economists Against Paulson in the future.

For the life of me, I don't understand why Obama isn't leading the charge against Paulson and Wall Street, using the mess to campaign against Bush-McCain's handling of the economy. There should be a clear difference between McCain and Obama on this, but he's fuzzed it all up, if Paulson's "cash for trash" bill passes, Obama might have a decidedly weaker hand to play when it come to the handling of the economy...

Shanah Tovah!

We're going on holiday...so won't be reading the "Emergency Economic Stabilization Act of 2008"--which after watching Secretary of the Treasury Paulson's embarrassing sales pitch on 60 Minutes tonight might better be called "There's a Sucker Born Every Minute Act of 2008." If you want to read it, here's the link:

http://financialservices.house.gov/

Hope it doesn't pass.

With constitutent calls running 100-1 against it, you'd think someone in Congress or the Senate would realize that stopping this bill doesn't even require political courage. As Gillis Long used to say, when he wanted to stop legislation: "This is a bad bill."

You don't even have to read it to know it--because no one can explain it clearly.

Congressmen Rahm Emannuel and Barney Frank will have a lot to atone for, come Yom Kippur, should it pass, IMHO. It might even cost Obama the election...

I wish Obama would announce, instead of praising this bill: "The era of bipartisanship is over. We are going to throw the bums out, make them pay, and put those responsible for this criminal mess in jail..."

The way things have been going, that sentiment more likely to come from Sarah Palin! And she'll win the White House, riding voter anger all the way, if McCain ends up filibustering...

UPDATE: The bill failed to pass the House due to bipartisan opposition, which restores one's faith in democracy!

Vladimir Sinelnikov to Present WORLD WAR III: “The Terror Casino”

And I'm on the panel discussing the film on Friday, believe it or not. Here's the press release:

Vladimir Sinelnikov will present World War III:“The Terror Casino” in the Peter Zenger room of the National Press Club on Friday, September 26th from 4-6 pm. Sinelnikov’s new one-hour documentary presents a challenging Russian perspective on the origins and ideology of international terror, one seldom seen in the West. Following the screening, blogger (laurencejarvikonline) and filmmaker Laurence Jarvik (Who Shall Live and Who Shall Die?) will moderate a panel discussion with the filmmaker and Novoye Russkoye Slovo critic Oleg Sulkin.

Sinelnikov is a leading Russian filmmaker, having written, directed, and/or produced over 100 films for television including Tetralogy The Bell of Chernobyl (“shelved” by Soviet censors), about nuclear disaster; The Academician Sakharov – a Man for all Times, about Russia’s Nobel Prize-winning dissident; and Oh, Russia, My Russia...People and Power, Artist and Power, about the return of emigre producer Yuri Lubimov to complete his production of Boris Godunov in the Taganka Theatre—a rehearsal interrupted by Lubimov’s flight from the USSR ten years earlier; and Mirages and Hopes, about Russian emigration to Israel.

Among Sinelnikov’s subjects in World War III:“The Terror Casino” are politicians, religious leaders, scholars, secret service agents, as well as family members of terror victims and those struggling with terror in Muslim nations. It features interviews with Russians such as Mikhail Gorbachev and Alexander Yakovlev (his last interview), Kyrgyz author Chingiz Aitmatov, and Palestinian leaders including Sami Abu-Zuchri, press-secretary of HAMAS. In addition there are interviews with Zbigniew Brzezinski, Rudolph Giuliani, Henry Kissinger, Benjamin Netanyahu, and Nathan Sharansky. Finally, there is testimony from family members of terror victims.

The filmmaker will present, introduce and discuss World War III:“The Terror Casino” with the audience and panel from 4pm to 6pm. Light refreshments will be served. Audio and video recording is permitted.

The National Press Club is located at 529 14th Street NW, Washington, DC 20004, at the corner of 14th & F Street, NW, at Metro Center. Seating is limited. To reserve a seat, please email lajarvik@gmail.com with the subject line “RSVP Sinelnikov,” before noon Friday, September 26th.

This event is presented in cooperation with Clotho Studio and the Russian-American Arts Foundation.

Contact:
Leah Shamalov (NY)
Russian-American Arts Foundation
(212) 687-6118
lshamalov@aol.com

RSVP:
Laurence Jarvik (DC)
http://laurencejarvikonline.blogspot.com
(202) 390-8676
lajarvik@gmail.com

Memo to Obama: Stop Wall Street Bailout to Win November Election

No links today, this is my own thought.

Obama must show that he is not part of the bipartisan establishment consensus in Washington that got the US economy into the mess it is now in by opposing any bailout legislation the Bush administration attempts to rush through Congress. No problem supporting some sort of temporary quick-fix to tide things over until after the election--but that 700 billion to 1 trillion from Secretary of the Treasury Paulson is a poison pill for the Obama campaign.

The time for bipartisanship is over. What people want now is a choice--change or more of the same. That means a partisan campaign. It is not up to Obama to fix the problem UNTIL HE IS ELECTED. He should not help Bush--and therefore McCain--fix the problem before the elections.

IMHO, if he agrees to any bailout package, he will lose in November. Because he undercuts his campaign message of change.

Further, he may even have to pull the Mr. Smith Goes To Washington tactic and threaten to filibuster any more attempts by Bush (and McCain) to shovel US taxpayers' cash into their pockets on the way out the door.

He can come up with a plan to save the economy--but the deal must be that Obama has to be elected first. Don't let Bush/McCain squirm through an opening of the emergency bailout. There has been far too much use of "emergency" legislation from 9/11 to the present. The era of "emergency" is over. Now we're going to have some rational planning.

As far as McCain goes--he can join Obama in opposition, which supports Obama's leadership credentials, or he can side with Bush. It is a lose-lose choice for McCain.

However, Obama cannot afford to be another compromising, bipartisan, establishment, go-along get-along Washington politician. Whatever short term gain or payoff to Democratic cronies is in the Bush bill, it is not worth passing. This is Obama's "moment of truth," where the American public can see whether he has what it takes to be President.

He may have to stand up to his own party to filibuster the bill--that's good, too. But he must beat Bush, beat Paulson, beat Wall Street, and beat McCain in order to win this November.

Americans want a leader who takes the time to get things right, not another Bush rush job that ends in disaster--like handing out credit cards after Hurricane Katrina...

Christopher Hitchens on Bernard Henri-Levy

From today's NY Times Book Review:

One or two of his chapters can be described as almost an interior monologue or stream of consciousness, where the son of a man who fought for the Spanish Republic is having trouble with a redefinition of what the verses of the “Internationale” call “the wretched of the earth.” Not everyone will share in the historic misery of this experience, of having seen Cambodia or Zimbabwe, say, turn into something rather worse than a negation of the liberating dream.

But for those who have, as well as for those who haven’t, Lévy provides a good register of what it felt like. And then there is this:

“I’m convinced that the collapse of the Communist house almost everywhere has even, in certain cases, had the unexpected side effect of wiping out the traces of its crimes, the visible signs of its failure, allowing certain people to start dreaming once again of an unsullied Communism, uncompromised and happy.”

If this is not precisely true, even of those nostalgic for “Fidel,” apologetic about Hugo Chávez, credulous about how “secular” the Baath Party was, or prone to sympathize with Vladimir Putin concerning the “encircling” of his country by aggressive titans like Estonia and Kosovo and Georgia, still it does contain a truth. One could actually have gone further and argued that the totalitarian temptation now extends to an endorsement of Islam ism as the last, best hope of humanity against the American empire. I could without difficulty name some prominent leftists, from George Galloway to Michael Moore, who have used the same glowing terms to describe “resistance” in, say, Iraq as they would once have employed for the Red Army or the Vietcong. Trawling the intellectual history of Europe, as he is able to do with some skill, Lévy comes across an ancestor of this sinister convergence in a yearning remark confided to his journal by the fascist writer Paul Claudel on May 21, 1935: “Hitler’s speech; a kind of Islamism is being created at the center of Europe.”

Christopher Hitchens on Pakistan

From Slate:

The very name Pakistan inscribes the nature of the problem. It is not a real country or nation but an acronym devised in the 1930s by a Muslim propagandist for partition named Chaudhary Rahmat Ali. It stands for Punjab, Afghania, Kashmir, and Indus-Sind. The stan suffix merely means "land." In the Urdu language, the resulting acronym means "land of the pure." It can be easily seen that this very name expresses expansionist tendencies and also conceals discriminatory ones. Kashmir, for example, is part of India. The Afghans are Muslim but not part of Pakistan. Most of Punjab is also in India. Interestingly, too, there is no B in this cobbled-together name, despite the fact that the country originally included the eastern part of Bengal (now Bangladesh, after fighting a war of independence against genocidal Pakistani repression) and still includes Baluchistan, a restive and neglected province that has been fighting a low-level secessionist struggle for decades. The P comes first only because Pakistan is essentially the property of the Punjabi military caste (which hated Benazir Bhutto, for example, because she came from Sind). As I once wrote, the country's name "might as easily be rendered as 'Akpistan' or 'Kapistan,' depending on whether the battle to take over Afghanistan or Kashmir is to the fore."

I could have phrased that a bit more tightly, since the original Pakistani motive for annexing and controlling Afghanistan is precisely the acquisition of "strategic depth" for its never-ending confrontation with India over Kashmir. And that dispute became latently thermonuclear while we simply looked on. One of the most creditable (and neglected) foreign-policy shifts of the Bush administration after 9/11 was away from our dangerous regional dependence on the untrustworthy and ramshackle Pakistan and toward a much more generous rapprochement with India, the world's other great federal, democratic, and multiethnic state.

Recent accounts of murderous violence in the capital cities of two of our allies, India and Afghanistan, make it appear overwhelmingly probable that the bombs were not the work of local or homegrown "insurgents" but were orchestrated by agents of the Pakistani ISI. This is a fantastically unacceptable state of affairs, which needs to be given its right name of state-sponsored terrorism. Meanwhile, and on Pakistani soil and under the very noses of its army and the ISI, the city of Quetta and the so-called Federally Administered Tribal Areas are becoming the incubating ground of a reorganized and protected al-Qaida. Sen. Barack Obama has, if anything, been the more militant of the two presidential candidates in stressing the danger here and the need to act without too much sentiment about our so-called Islamabad ally. He began using this rhetoric when it was much simpler to counterpose the "good" war in Afghanistan with the "bad" one in Iraq. Never mind that now; he is committed in advance to a serious projection of American power into the heartland of our deadliest enemy. And that, I think, is another reason why so many people are reluctant to employ truthful descriptions for the emerging Afghan-Pakistan confrontation: American liberals can't quite face the fact that if their man does win in November, and if he has meant a single serious word he's ever said, it means more war, and more bitter and protracted war at that—not less.

Bernard Henri-Levy on Afghanistan

Discussing a controversy over photographs of dead French troops published in Paris Match, in a column from Gulf News:

First, the Taliban's state of mind: the fact that they hate the French only a little less than they hate the Americans, and that the clever minds who thought they might get into the Taliban's good graces by keeping a low profile and being discreet and ingratiating - even collaborating with them - were sadly mistaken.

Then there is the fact that they are not "resistance fighters", "religious students" or anything of the sort. Instead they are motivated by cynicism, choosing to celebrate a recent military success by displaying trophies and parading around as in ancient times.

We also learn - and this is hardly without importance - that they are what we call these days good communicators, able to stage their own photographs, posing for the camera (especially since the photographer says that is exactly what happened, and there is no reason to doubt her word).

Finally, those of us who wanted it neither heard nor said, or who considered it a state secret, are reminded that for years and years, the French have had elite commandos fighting shoulder to shoulder with the American Special Forces in the Afghan mountains.

The report reminds these people - and this is key - that France is fighting a war over there, a real war that also happens to be as undeclared as the war it fought in Algeria 50 years ago.

BHL will speak again in Washington at the French Embassy's La Maison Francaise on September 20th at 8 pm. The event is sold out, more information here.

Inside Eastern State Penitentiary

Last weekend, someone I know and this blogger visited Eastern State Penitentiary in Philaldelphia, Pennsylvania--not for the "Terror Behind the Walls" haunted house experience, but for the daytime tour of America's oldest penal institution. It was here that among the most progressive of America's founding fathers conducted the first experiment to improve human behavior by eliminating torture and beatings of prisoners.

Instead, Benjamin Franklin, Dr. Benjamin Rush, and a group of Pennsylvania Quakers decided to use isolation in solitary confinement to induce reflection, repentenance, and a new way of life for inmates. The experiment began in 1790 in the Philadelphia's Walnut Street Jail. In 1821, the Philadelphia Society for Alleviating the Miseries of Public Prisons succeeding in persuading the Legislature to fund the Eastern State Penitentary for 250 prisoners. Architect William Strickland, a namesake of someone I went to college with, was fired from the job in 1822, replaced by John Haviland. In 1826, the Marquis de La Fayette, one of my favorite historical characters, visited the construction site. In 1829, the prison finally opened.

Many leaders believe that crime is the result of environment, and that solitude will make the criminal regretful and penitent (hence the new word, Penitentiary). This correctional theory, as practiced in Philadelphia, will become known as the Pennsylvania System.

Plans are finalized to prohibit all contact between prisoners at Eastern State, the world's most ambitious Penitentiary, now nearly ready for its first inmates.

Masks are fabricated to keep the inmates from communicating during rare trips outside their cells. Cells are equipped with feed doors and individual exercise yards to prevent contact between inmates, and minimize contact between inmates and guards.

Prisoners were permitted to read only one book--the Bible--by the light from a single round skylight designed to resemble the eye of God looking down on the person in the cell below, a porthole through which one could observe heaven--and repent.

In 1832, the prison was visited by a French delegation that included Alexis de Tocqueville. The so-called "Pennyslvania System" became a model for European penology, leading to the construction of similar buildings across the world. But one foreign visitor was appalled by what he saw in the supposedly humane and progressive institution--Charles Dickens. He wrote in his American Notes:"The System is rigid, strict and hopeless solitary confinement, and I believe it, in its effects, to be cruel and wrong...."

In 1913, Eastern State officially ended the "Pennsylvania System." Later prisoners included Al Capone, who spent eight months in a luxurious "single" furnished with rugs, lamps, and a radio (ordinary prisoners shared cells after 1913). Riots caused by overcrowding and poor conditions gave the model prison a bad name in the 1930s, it was closed in 1970.

Now, with funding from the Pew Charitable Trusts and the William Penn Foundation, among other sponsors, the prison is run as a museum and night-time Disney-style attraction. It is well worth a visit...a living example of how the road to hell is sometimes indeed paved with the very best of intentions.

Happy Ramadan!

It's a month of prayer and fasting. Wikipedia has the full story of the holiday, here.