Quotulatiousness

January 20, 2013

Corporate welfare — it’s the American way

Filed under: Business, Government, USA — Tags: , , , , — Nicholas @ 12:08

Sheldon Richman on the amazingly inefficient US tax code and some of the ways it got that way:

When Congress and President Obama came up with their beyond-the-last-minute deal to put off addressing the coming fiscal crisis, The Wall Street Journal turned the spotlight on a little-noticed, yet too typical aspect of Washington’s machinations: “The bill’s seedier underside is the $40 billion or so in tax payoffs to every crony capitalist and special pleader with a lobbyist worth his million-dollar salary. Congress and the White House want everyone to ignore this corporate-welfare blowout,” the Journal reported.

So a bill that was represented as the first steps toward fiscal responsibility (try not to laugh too hard) contained billions of dollars in corporate welfare. And it was a bipartisan affair.

[. . .]

Manipulating the tax code to benefit particular interests has obvious appeal for politicians — it’s a source of power and influence — and a code that did not permit such manipulation would be much less attractive to them. Outright cash subsidies from the taxpayers, while not unheard of, smacks too much of cronyism and is more likely to alienate taxpayers. But complicated exceptions written into the tax laws can be presented as creative governance on behalf of the public interest. But it is cronyism as offensive as outright subsidies.

[. . .]

Corporate welfare is not primarily about lowering taxes. That would be a worthwhile goal, of course, and could be achieved simply by slashing tax rates and simplifying the code. But when taxes are lowered selectively by writing complicated exceptions into the law, the goal is to bestow privileges on cronies, not to reduce the burden of government on all. Corporate welfare, among its many sins, violates equal protection under the law.

January 4, 2013

On politicians needing to kick their own asses

Filed under: Government, Media, Politics, USA — Tags: , , , , — Nicholas @ 11:58

Nick Gillespie responds to a recent Bob Woodward column:

In sort-of documenting the dysfunction of a government that can’t even trim chump change from its petty cash drawer, much less write and pass a goddamned budget, Woodward manages to also illustrate why press solons are pretty useless in this whole process too. Sequestration cuts aren’t odious, except to congenital pants-wetters on both sides of the aisle (such as the neo-con defense hawks at the American Enterprise Institute and Leon Panetta, who can’t abide a single dollar ever being cut from any military budget, even after the Second Coming of Christ and the beating of swords into non-voting GM shares). We’ve been racking up trillion-dollar annual deficits for years now, and the idea of cutting $3 trillion from future deficits over a 10-year period causes things to explode? That shouldn’t be a reach under any circumstances, but especially under one in which both parties agree that we need to stop spending money we don’t have on things we don’t need. If the leadership of both parties couldn’t agree to $3 trillion in deficit trims over a decade in which they expect to spend between $40 trillion and $47 trillion, they weren’t going to agree to cuts of $1.2 trillion anyway. That’s the the real story, and it’s one that need to be retold every single day.

Woodward’s invocation of today’s “vulture politics” and his by-comparison invocation of the good old Reagan days is ridiculously ahistorical, especially coming from one of the guys who presided over the past 40-plus years of American history. Today’s political situation isn’t unique in its “demonization” of the opposition. Jesus Christ, George McGovern likened Nixon to Hitler and Reagan was attacked in similar terms. As was Clinton (by Jerry Falwell, who credited the Man from Hope with multiple murders in Arkansas). And then there was also the Bushitler stuff and novels and faux-documentaries about Dubya’s assassination. Somehow, both sides somehow managed to pass budgets (as awful as they were). The fact that Boehner takes a lot of man-tan heat and Obama is called a socialist is light fare by comparison. What is different is the inability of our top men to freaking complete the most basic tasks required of them: to hash out what they government is going to spend each year according to basic and simple-to-understand legislative rule.

In the end, that is not something mystical or overly complicated or tough because they belong to different parties. It’s the easiest thing in the world to get done and while of course “staffers” will do most of the grunt work, Boehner and Obama — and Harry Reid, the hugely incompetent Senate leader who is arguably the single-most responsible villain in the whole dramedy, need to be running the show.

And when it comes to kicking their own asses, our triumvirate of leaders — Obama, Boehner, and Reid — should get in line behind the rest of us. In the end, we pay their tab, so we should be at the front of the line.

December 30, 2012

“We Have Passed The Point Of No Return”

Filed under: Economics, Government, Politics, USA — Tags: , , , , , , — Nicholas @ 11:22

Zero Hedge recommends that everyone listen to outgoing Congressman Ron Paul’s analysis of the fiscal cliff negotiations:

In a little under three minutes, Ron Paul explains to a somewhat nonplussed CNBC anchor just how ridiculous the charade that is occurring in D.C. actually is. This succinct spin-free clip should be required viewing for each and every asset-manager, talking-head, propagandist, and mom-and-pop who are viewing the last-minute idiocy of the ‘fiscal cliff’ debacle with some hope that things will be different this time. “We have passed the point of no return where we can actually get our house back in order,” Paul begins, adding that “they pretend they are fighting up there, but they really aren’t. They are arguing over power, spin, who looks good, who looks bad; all trying to preserve the system where they can spend what they want, take care of their friends and print money when they need it.” With social safety nets available to rich and poor, there is no impetus for change and “the country loses,” but Paul concludes, the markets are starting to say “there is a limit to this.”

May 5, 2012

The “Fauxcahontas” affair

Filed under: Bureaucracy, Politics, USA — Tags: , , , , , — Nicholas @ 08:44

Mark Steyn on the controversy swirling around Massachusetts senatorial candidate Elizabeth Warren over her on-again-off-again claim to having First Nations ancestry:

How does she know she’s a Cherokee maiden? Well, she cites her grandfather’s “high cheekbones,” and says the Indian stuff is part of her family “lore.” Which was evidently good enough for Harvard Lore School when they were looking to rack up a few affirmative-action credits. The former Obama Special Advisor to the Consumer Financial Protection Bureau and former Chairperson of the Congressional Oversight Panel now says that “I listed myself in the directory in the hopes that it might mean that I would be invited to a luncheon, a group, something that might happen with people who are like I am,” and certainly not for personal career advancement or anything like that. Like everyone else, she was shocked, shocked to discover that, as The Boston Herald reported, “Harvard Law School officials listed Warren as Native American in the ’90s, when the school was under fierce fire for their faculty’s lack of diversity.”

So did the University of Texas, and the University of Pennsylvania. With the impertinent jackanapes of the press querying the bona fides of Harvard Lore School’s first Native American female professor, the Warren campaign got to work and eventually turned up a great-great-great-grandmother designated as Cherokee in the online transcription of a marriage application of 1894.

Hallelujah! In the old racist America, we had quadroons and octoroons. But in the new post-racial America, we have – hang on, let me get out my calculator – duoettrigintaroons! Martin Luther King dreamed of a day when men would be judged not on the color of their skin but on the content of their great-great-great-grandmother’s wedding license application. And now it’s here! You can read all about it in Elizabeth Warren’s memoir of her struggles to come to terms with her racial identity, Dreams From My Great-Great-Great-Grandmother.

Alas, the actual original marriage license does not list Great-Great-Great-Gran’ma as Cherokee, but let’s cut Elizabeth Fauxcahontas Crockagawea Warren some slack here. She couldn’t be black. She would if she could, but she couldn’t. But she could be 1/32nd Cherokee, and maybe get invited to a luncheon with others of her kind – “people who are like I am,” 31/32nds white – and they can all sit around celebrating their diversity together. She is a testament to America’s melting pot, composite pot, composting pot, whatever.

Just in case you’re having difficulty keeping up with all these Composite-Americans, George Zimmerman, the son of a Peruvian mestiza, is the embodiment of endemic white racism and the reincarnation of Bull Connor, but Elizabeth Warren, the great-great-great-granddaughter of someone who might possibly have been listed as Cherokee on an application for a marriage license, is a heartwarming testimony to how minorities are shattering the glass ceiling in Harvard Yard. George Zimmerman, redneck; Elizabeth Warren, redskin. Under the Third Reich’s Nuremberg Laws, Ms. Warren would have been classified as Aryan and Mr. Zimmerman as non-Aryan. Now it’s the other way round. Progress!

May 2, 2012

We must make internet freedom the new “third rail” of politics

Filed under: Government, Liberty, Politics, USA — Tags: , , , , , — Nicholas @ 08:05

L. Neil Smith on the most recent attempt by the US government to get formal control over the internet:

After many previous attempts on the part of different groups for a variety of reasons, the United States House of Representatives has passed a bill that could result in the destruction of freedom on the Internet.

And the erasure of the First Amendment.

I won’t bother you with this week’s misleading acronym for such an atrocity. This specimen is likely to fail in the Senate — because it doesn’t go nearly as far in muzzling each of us as that “parliament of whores” wants it to. The Faux President declares he will veto it, but we’ve heard that before from a criminal imposter who couldn’t move his mouth to speak the truth if his life depended on it — because he couldn’t recognize the truth if it came up to him and pissed in his ear.

What I will tell you is what a lifetime of fending off similar assaults on the Second Amendment — and the unalienable individual, civil, Constitutional, and human right of every man, woman, and responsible child to obtain, own, and carry weapons — has taught me. I know what has to be done now, and what will happen if we don’t do it.

First, don’t be relieved or satisfied if this particular bill doesn’t pass this time. Others will be introduced, one after another, until they wear down our resistance, unless we make every attempt cost them something they can’t afford to lose. We must make our freedom to communicate a political “third rail” and aim for nothing less than total eradication of the very notion of censoring the Internet in any way.

April 24, 2012

Colby Cosh on the “Alberta surprise”

Filed under: Cancon, Media, Politics — Tags: , , , — Nicholas @ 08:53

From his most recent column at Maclean’s:

An Alberta astronaut returning from Titan and seeing the result of last night’s election would say “Meh, so what else is new? The PCs carried 61 of 87 seats? Kind of an off year for them, I guess.” Yet the ostensibly boring, familiar outcome wrong-footed much of the media and absolutely all the pollsters. Even PC insiders, correctly detecting a last-minute shift away from the Wildrose Party heirs-presumptive, envisioned a much smaller vote share than the 44 per cent Alison Redford’s party achieved. The public polling firms all botched the job, with none forecasting anything but a Wildrose majority even on the final weekend.

The Wildrose Party’s final count of 17 seats must surely leave its braintrust, heavily stocked with Conservative Party of Canada veterans, obliterated with horror. The CPC has built a pretty good electoral machine, but as old Ralph Klein hand and Wildrose supporter Rod Love reminded CBC, the Alberta PC brand is the most successful in the country. He probably could have gone even further afield if he wanted to. (On August 24, 2014, the PCs will officially become the longest continuously serving government in the annals of Confederation.) In 1993 the PCs were in trouble late, but succeeded in outflanking a popular Liberal opposition and running against their own record. They did it again in 2012. Redford succeeded in making herself the “change” candidate — though not without help from the Wildrose insurgents, who suffered late “bozo eruptions” of the sort the CPC itself has long since succeeded in extinguishing.

Update: Even Colby can’t seem to avoid the “Ten things” meme:

1. Proportional representation just won itself a whole passel of new right-wing fans.

2. Alberta Liberal morale remained high throughout an election in which pollsters warned continually of disaster. And the pollsters proved to be almost exactly right about this (if nothing else). Yet even as the mortifying results rolled in, Alberta Liberal morale still remained high. Then their egomaniac not-really-Liberal disaster of a leader, Raj Sherman, won his seat by the skin of his teeth. This means he will not have to be replaced unless an awful lot of people smarten up fast. Alberta Liberal morale after this event? Easily, easily at its highest point in ten years. “Please, sir, may I have another?”

[. . .]

5. Those who did boycott the Senate election seem awfully proud of themselves, because it was a “meaningless” election. Why, one wonders, does it have to be meaningless? The “progressive” parties could have agreed on a single Senate candidate in advance; if they had done so, that candidate would certainly have ended up first in the queue, and provided an excellent test of Stephen Harper’s integrity, which I am told is much doubted.

The problem is that Harper might pass the test, you say? Then what’s the harm? You get some smart, popular left-wing independent speaking for Alberta in the Senate? That’s bad for “progressives” how?

I’m still waiting for the definitive post-election analysis of why all the polls were so far off: I didn’t see a single poll in the last two weeks of the election that didn’t have Danielle Smith’s Wildrose Party in clear majority territory. Nobody was predicting another PC victory in that time period (or if they were, the national media wasn’t picking it up).

January 24, 2012

Sorting out the proper terms of address, American style

Filed under: Media, Randomness, USA — Tags: , , , — Nicholas @ 10:44

In an lengthy aside in his weekly NFL column, Gregg Easterbrook provides a useful summary about how to address current and former holders of various offices (answering a few questions I had about this topic):

In the Republican debate just before the South Carolina primary, John King of CNN addressed the candidates as “Governor Romney,” “Senator Santorum,” “Speaker Gingrich” and “Congressman Paul.” Only Paul actually holds the post connected to the title. [. . .]

Should the news media use titles such as Governor and Speaker for candidates who are not in fact governors or speakers? The authority here is The Protocol School of Washington, which teaches etiquette and, name aside, is located in Columbia, S.C. It maintains a lengthy website on terms of address; the section on addressing former officials is here. The basic rule is that if there are many persons in a category then a former official keeps his or her title when being addressed, while if there is only one of someone, the former person to hold that job does not keep the title.

Since there are many governors and senators, “Governor Romney” and “Senator Santorum” are correct terms of address. But there is only one Speaker of the House, so Gingrich should not be addressed as “Speaker Gingrich.”

The one-or-many rule is the reason judges, generals, admirals, governors, mayors and members of Congress keep their titles for life — but presidents, speakers and cabinet secretaries do not. The Protocol School notes that former president Bill Clinton should not be addressed as “President Clinton,” though having been a governor, he may be addressed as “Governor Clinton.” Former Secretary of State Condoleezza Rice should not be addressed as “Secretary Rice,” she is addressed as “Dr. Rice.” When Dwight Eisenhower left office, he asked to be addressed as “General Eisenhower,” because addressing him as “Mr. President” would have been disrespectful to the sitting president, John Kennedy. Dick Cheney and Al Gore, the Protocol School notes, should not be addressed as “Vice President Cheney” or “Vice President Gore,” because there is only one vice president, though they may be addressed as “Congressman Cheney” or “Senator Gore.”

Thus addressing Next Gingrich as “Speaker Gingrich” is improper and disrespectful to the sitting speaker, John Boehner. As a former member of the House of Representatives, Newt should be addressed as “Congressman Gingrich.”

Considering Gingrich frequently proclaims his great knowledge of history, and considering he misses no chance to savage the media, why doesn’t he correct journalists who improperly address him as “Speaker Gingrich”? Perhaps because being called “Speaker Gingrich” makes him seem more important.

Why do members of the news media address Gingrich improperly? Because it makes them, by reflection, seem important. When news types call him “Speaker Gingrich” or “Mr. Speaker,” it sounds like someone of power and standing is in the room. A relationship of mutual phoniness is established — Gingrich and any journalist addressing him as “Speaker Gingrich” both pretending to be more important than they are.

We don’t have as many different ways to refer to our politicians: they’re generally either “The Honourable” (cabinet ministers, MPs, and senators — they retain the title after retirement if they are members of the privy council, and former cabinet ministers are always members) or “The Right Honourable” (Prime Minister, Chief Justice of the Supreme Court, and former Governors General). The current Governor General, as personal representative of the monarch, is addressed as “Your Excellency”.

January 19, 2012

SOPA delenda est!

Filed under: Law, Liberty, Technology, USA — Tags: , , , , , — Nicholas @ 12:17

Matt Peckham on the results of yesterday’s blackout:

On Wikipedia’s SOPA Initiative/Lean More page, the site notes that over 12,000 people commented on the Wikimedia Foundation’s post announcing the blackout — ”A breathtaking majority supported the blackout.” On Twitter, Wikipedia says the hashtag topic #wikipediablackout “at one point…constituted 1% of all tweets,” and that SOPA-related Twitter posts were popping off at a rate of a quarter-million every hour. And finally: Wikipedia says over eight million visitors used the site’s zip code tool to look up their elected representatives.

All the traffic to Congressional websites definitely had an impact: At one point Senator Ron Wyden (D-OR) tweeted “Anti- #PIPA, #SOPA traffic has temporarily shut down our website.” Other Congressional websites were reportedly slow to load throughout the day or returned error messages for visitors.

And then, the political dominoes began to fall: Senator Marco Rubio (R-FL) renounced his support for SOPA (he co-sponsored the bill) yesterday on Facebook, Senator Jim DeMint (R-SC) used Twitter to tell the world he now opposes the bill and Senator John Cornyn (R-TX) told his Facebook followers “better to get this done right rather than fast and wrong.”

The New York Times reports “then trickle turned to flood,” noting that Senators Mark Kirk (R-IL), Roy Blunt (R-MO), Jeff Merkley (D-OR) and Chuck Grassley (R-IA) as well as Representatives Lee Terry (R-NE) and Ben Quayle (R-AZ) announced their opposition to the bill. The Times adds that “at least 10 senators and nearly twice that many House members announced their opposition.”

My own tiny contribution wasn’t particularly conclusive: traffic to the blog (in spite of the anti-SOPA clickthrough page) was up by about 20% over the previous week’s average.

January 18, 2012

Why the rent seekers have been pushing for SOPA and PIPA

Filed under: Law, Liberty, Technology, USA — Tags: , , , , , , — Nicholas @ 10:41

Max Titmuss at the Adam Smith Institute summarizes the key points that make SOPA and PIPA so attractive to rent seekers:

The provisions put forward in SOPA and PIPA enable the closing down and harassment of websites (not even necessarily located in the US) on the flimsiest of pretences: government censorship masquerading as copyright protection. But what exactly makes the laws so odious? There are four key, objectionable provisions, all of which are ripe for manipulation by rent-seeking parties (summarised from this link):

  1. The Anti-Circumvention Provision, allowing the US government to close sites who offer advise on merely circumventing censorship mechanisms;
  2. The “Vigilante” Provision, which would grant immunity from prosecution to internet service providers who pre-emptively block potentially offending sites, leaving them inherently vulnerable to pressures from a host of interested parties;
  3. The Corporate Right of Action, enabling copyright holders to obtain an unopposed court order which would cut off foreign websites from payment processors and advertisers;
  4. Expanded Attorney General Powers: therein giving the Attorney General the power to block any domain name and have their results barred from search engines: they would effectively cease to exist.

You don’t need to be a rabid libertarian to realise both SOPA and PIPA are anathema to a society which readily proclaims its commitment to spreading liberal democracy; an integral part of which is the freedom of expression. After all, western nations have waged war purportedly in support of ‘freedom’ and regularly (this time rightly) criticise those nations which continually suppress freedom of expression online.

Mother Jones puts on the rose-coloured glasses over SOPA

Filed under: Law, Liberty, Media, Politics, USA — Tags: , , , , — Nicholas @ 10:07

In an otherwise good summary of the SOPA/PIPA issues in Mother Jones, Siddhartha Mahanta and Nick Baumann start the touchdown celebration prematurely:

Late Thursday, Sen. Patrick Leahy (D-Vt.), the lead sponsor of the House bill, announced that he would consider dropping the DNS-blocking provisions from the bill. Late on Friday, Smith, SOPA’s sponsor, did Leahy one better, removing the provision altogether. Not long after, six Republican senators — including two co-sponsors — released a letter they wrote to Majority Leader Harry Reid (D-Nev.), asking him to hold off on a January 24th vote to end debate on PIPA and move to passage.

By this weekend, the writing was on the wall. Rep. Eric Cantor (R-Va.), the House Majority Leader, announced that SOPA would not come for a vote in the House before the controversy over the bill is resolved — essentially killing it for the time being. The White House issued a statement opposing significant portions of the bills. And Issa cancelled the hearing planned for Wednesday, saying he’s “confident” the bill is dead in the House.

Big Hollywood isn’t entirely beaten yet. PIPA, the Senate legislation, could still get a vote and move closer to becoming law, and a modified version of SOPA could conceivably come to the House floor at some point in the future. Wikipedia, Reddit, MoveOn.org, Mozilla (the maker of the Firefox web browser), the blogging platform WordPress, and others are still planning to go dark on Wednesday, just in case. But as of right now, a combination of grassroots activism, blogging, tweeting, boycotts, and the mere threat of having to scroll through 1500 LOLCats without Icanhazcheezburger (another boycott supporter), seems to have beaten an avalanche of money and lobbying. Those 1950s onion farmers would be proud.

Keep your powder dry, boys: the battle is far from won. This is just the latest skirmish in an ongoing campaign, and premature celebration of the victory is just what we don’t need.

December 26, 2011

Montana voters angry over “indefinite detention” vote, seek to recall their senators

Filed under: Government, Liberty, USA — Tags: , , , , , — Nicholas @ 11:42

Jonathan Turley has the details:

We have been discussing the disconnect between citizens who have repeatedly opposed continued rollbacks of civil liberties and the Democratic and Republican leadership pushing for such rollbacks, including the recent provision allowing indefinite detention of citizens under the National Defense Authorization Act of 2011 (NDAA). Now Montana citizens have decided to try another approach given the non-responsive attitude of our leaders — they are moving to remove their two Senators from office over their votes in favor of indefinite detention powers.

Montana is one of nine states with recall laws. The other states are Arizona, Colorado, Louisiana, Michigan, Nevada, North Dakota, Oregon, and Wisconsin. Eighteen states have recall laws, but most do not apply to federal officers.

H/T to Radley Balko for the link.

December 6, 2011

Forbes: The NDAA is the “Greatest Threat to Civil Liberties”

Filed under: Government, Liberty, USA — Tags: , , , , — Nicholas @ 00:40

E.D. Kain makes the case for President Obama to veto the National Defence Authorization Act:

If Obama does one thing for the remainder of his presidency let it be a veto of the National Defense Authorization Act — a law being debated in the Senate currently which would place domestic terror investigations and interrogations into the hands of the military and which would open the door for trial-free, indefinite detention of anyone, including American citizens, so long as the government calls them terrorists.

So much for innocent until proven guilty. So much for limited government. What Americans are now facing is quite literally the end of the line. We will either uphold the freedoms baked into our Constitutional Republic, or we will scrap the entire project in the name of security as we wage, endlessly, this futile, costly, and ultimately self-defeating War on Terror.

In short, if the government says you’re a terrorist, it has the right to detain you in military prisons for as long as it likes: you have no rights as a designated “terrorist”. So much for habeas corpus.

November 23, 2011

QotD: How the sequester is a symptom of political cowardice

Filed under: Economics, Government, Politics, Quotations, USA — Tags: , , , — Nicholas @ 09:40

Those who can do. Those who can’t form a supercommittee. Those who can’t produce a majority vote in a supercommittee sequester. Those who can’t even sequester are telling the world something profound about American inertia.

As Veronique points out [. . .], the “automatic” sequestration cuts would over the course of ten years reduce US public debt by only $153 billion. Which boils down to about a month’s worth of the current federal deficit.

Yet even slashing a pimple’s worth of borrowing out of the great oozing mountain of pustules will prove too much for Washington.

Mark Steyn, “Happy Sweet Sequester’d Days”, National Review Online, 2011-11-21

November 19, 2011

Conrad Black sneers at your various eagles and praises the Canadian beaver

Filed under: Cancon, History, Humour — Tags: , , — Nicholas @ 10:42

There’s been a crack-brained effort in recent weeks to dispense with the beaver as Canada’s emblem animal and replace it with some frozen-footed albino bear. Conrad Black objects:

It is with regret that I take issue, and square off, with my esteemed friend of many years, Senator Nicole Eaton. But I am scandalized by her rude and almost unpatriotic attack on the noble and distinguished national animal of Canada.

The beaver is an almost incomparably exemplary and original national animal. Eagles abound; Germany’s scrawny black eagle, a panoply of other Alpine, Andean, and Central American eagles, including Mexico’s rampant and belligerent version, Egypt’s somewhat pudgy and suspiciously vulture-like eagle; all compete with the grossly overworked American bald eagle. The official American eagle has been press-ganged into every task from proclaiming a missive from the president to warning the non-paying guests of the Bureau of Prisons of the evils of suicidal thoughts.

No one would take issue with the British lion as a great beast, except that the United Kingdom no longer governs anywhere where the lion is indigenous. The king of beasts (or as the Toronto Zoo calls the lion, the “prime minister of beasts”) is even more majestic when set off against the foil of the unicorn.

[. . .]

If the beaver were a contemptible animal, it would never have been adopted and would certainly be disposable now. But it is a remarkably commendable animal, possessed of a formidable work ethic. (I can’t abide rhetorical questions but am sufficiently overcome by inter-species moral outrage to ask if anyone has ever been described as “working like an eagle” or “busy as a lion,” unless they were preying on the defenseless, or, respectively, overcome by lust or narcolepsy?)

More impressive, the beaver is a natural engineer, who not only grasps but by his own adaptive ingenuity, implements the basic principles of irrigation, flood and drought control, and in most of its elements, power generated from water courses. Apart from the honey bee, which was part of the national symbolism of France under the Bonapartes, in deference to the 500,000 Frenchmen who dutifully gave their lives in the great campaigns of Napoleon, the only other national animal that has made a direct constructive contribution to a country apart from the beaver is the elephant of India, often useful in construction and both civilian and military transport.

April 29, 2010

All the Senate’s a stage, and Goldman Sachs merely a player

Filed under: Economics, Politics, USA — Tags: , , , — Nicholas @ 07:19

Although in this case, it’s the Senators as walking shadows, poor players that strut and fret their hour upon the stage and then (if we’re lucky) are heard no more. Megan McArdle isn’t impressed:

The statements from the Senators make it clear that they are not holding this hearing in order to find out what happened; that’s the SEC’s job. They’re holding this hearing in order to be televised yelling at investment bankers. Claire McCaskill’s rant was particularly irrelevant to the actual question at hand, but all of them are mostly trying to express outrage, not make any coherent assessment of the strengths of the SEC’s case.

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