We’re here to help you: The EPA is considering expanding its regulatory power in the name of “sustainable development.”
In related news: New EPA pollution rules will force the shutdown of dozens of coal-fired power plants.
Good riddance: North Korean dictator Kim Jong Il, 69, is dead.
The astonishing collapse of MF Global.
The failure of broker MF Global is a unique event in the annals of American corporate history: To my knowledge, it’s the first time a CEO singlehandedly bankrupted his firm through actions that the board of directors was not only knowledgeable of, but had indeed expressly sanctioned. “That takes some talent!” quipped Roderick Hills, a former chairman of the SEC.
The article is long, detailed, and thorough. It describes a deep corruption that should chill the spine of anyone who has money in the investment world.
I must note that I do not advocate more regulations to eliminate this corruption. Such regulations never work. Take for example this quote from the article, describing the accounting systems that are required by law to prevent a client’s funds from being misused:
As noted above, it’s a major part of the CEO’s job to put the proper systems in place. In fact, regulations implemented through Sarbanes-Oxley — a bill that Corzine co-wrote while he was a senator — require that the CEO and CFO sign off on the effectiveness of the controls over financial reporting. … If those proper “controls and procedures” were in place, a breach of segregated client funds should have set off loud, blaring, obnoxious alarms that would have alerted management to that breach.
In the case of Jon Corzine and MF Global, those controls were obviously not in place, and thus the Sarbanes-Oxley bill wasn’t worth the paper that Corzine used to write the bill.
Rather than more regulations, what works is very simple and can be summed by two words: “Buyer beware.” Investors (as well as voters considering the political ambitions of Corzine and his friends) have to be more skeptical of whom they put their trust in. You have to protect yourself. You can’t ask others to do it for you.
Well duh! Deficit may be biggest threat to ObamaCare.
I always opposed ObamaCare because I oppose the use of government to run our lives. But putting that minor point aside, it made absolutely no sense for the government to add this entitlement to the nation’s balance sheet at a time when that balance sheet is so completely in the red. The only time these kinds of government programs can possible work (if ever) is when there is lots of spare cash in the bank, something we definitely don’t have right now.
Ain’t democracy a bitch? Virginia residents loudly oppose their local government’s preparations for climate-related sea-level rise, and neither the bureaucrats or this Washington Post journalist like it!
Why am I not surprised? A slap on the wrist for the Wisconsin doctors who handed out fake sick notes during the protests last year.
Frank Fleming: “Hey, they still let us drive.”
Driving is basically a grandfathered freedom from back when people cared less about pollution and danger and valued progress and liberty over safety. They had different equations related to human life then: We could lose 10,000 men in a single battle in a war and call it a victory.
We’re talking foolhardy people who eventually sent men to the moon strapped to a giant rocket that had less computational power than it takes to calculate the trajectory of an Angry Bird. Their kids dangled from jungle gyms over pavement. [emphasis in original]
He should have told them he was a Mexican druglord: The Tea Party Patriots leader was arrested yesterday at a New York airport for following TSA rules and checking in a lawful pistol.
From Bill Wittle: “EVERYBODY knows that Republicans are EVIL! What kind of Evil? Greedy, Fascist, Racist evil — the worst kind!”
Pushback: An elementary school program which includes the singing of “Silent Night” will go on after Alabama school officials decided to ignore a complaint filed by an anti-religion group that called the song “unconstitutional.”
Climategate 2: Did the Department of Energy help Phil Jones hide climate data? Inquiring minds want to know.
The return of xenophobia: Russia’s space agency has banned its employees from any foreign travel.
Thugs: The Obama Justice Department has joined the UK government to go after the climategate whistleblowers.
This action once again shows how completely tone deaf the Obama administration is. Attacking the messenger here will do nothing to convince anyone that global warming is happening. Instead, it will help to convince everyone that the whole thing is a fraud, and should be shut down.
The Wisconsin teachers union is trying to get a teacher fired for doing a commercial in support of Governor Scott Walker.
One reason we are going bankrupt: The stimulus was not a one time expense, it was built into the baseline.
Click to see the chart most of all. It will make you sick.
Attacking the messenger? The UK police have seized several computers belonging to the first blogger in England to break the story of climategate 2.
At home, the American people are less free, less prosperous, more bitterly divided, and much less hopeful in 2011 than in 2001 because a decade of the War on Terror brought a government ever bigger and more burdensome, as well as “security” measures that impede the innocent rather than focusing on wrongdoers. Our ruling class justified its ever-larger role in America’s domestic life by redefining war as a never-ending struggle against unspecified enemies for abstract objectives, and by asserting expertise far above that of ordinary Americans. After 9/11, far from deliberating on the best course to take, our rulers stayed on autopilot and hit the throttles.
An fascinating and amazing essay. I don’t agree with everything in it, but can’t deny the strength of its general points. For example:
Because the Bush Administration took CIA director George Tenet’s snap judgment that Osama bin Laden and al-Qaeda were responsible “game, set, and match” for 9/11 as a warrant for identifying them with America’s terrorist problem in general, it failed to ask the classic headwaters question: what is the problem? Had it done so, it might have noticed that the 9/11 hijackers were part of a wave of deadly disrespect for America that had been growing throughout the Muslim world—and not just there—for a generation. Had the Bush team focused on the realities that fed growing images of America as “the weak horse” (to use Osama bin Laden’s words), they would have had to consider who were the major contributors to that disrespect, what they and their predecessors had done to incur it, and then to decide what actions would restore it.
That would have pointed to the Middle East’s regimes, and to our ruling class’ relationship with them, as the problem’s ultimate source. The rulers of Iran, Iraq, Syria, Egypt, Saudi Arabia, and the Palestinian Authority had run (and continue to run) educational and media systems that demonize America. Under all of them, the Muslim Brotherhood or the Wahhabi sect spread that message in religious terms to Muslims in the West as well as at home. That message indicts America, among other things, for being weak. And indeed, ever since the 1970s U.S. policy had responded to acts of war and terrorism from the Muslim world by absolving the regimes for their subjects’ actions. For example, when Yasser Arafat’s PLO murdered U.S. ambassador Cleo Noel, our government continued building friendly relations with Arafat, and romancing the Saudi regime that was financing him. Since then the U.S. government has given $2.5 billion to the PLO. Part of the reason was unwarranted hope, part was fear, and part was the fact that many influential Americans were making money in the Arab world.
I have always believed that when we went to war after 9/11, we needed to clean out all of the corrupt regimes in the Middle East, much as we did after World War II. Sadly, Bush did not. Had Bush fought World War II like he fought the “War on Terror” he would have stopped at the German border after Normandy and declared victory.
Read the whole thing. There is a lot more there, about freedom, government oppression, the TSA, and much else. The read is definitely worth it.
The law is such an inconvenient thing: The IPCC scientist working group, meeting in San Francisco, has decided that Freedom of Information Act laws do not apply to its work.
Putting aside the absurdity of a bunch of individuals simply declaring they don’t have to obey the law, it is interesting to me that the lead scientists of the IPCC happen to be meeting in San Francisco the same time the UN climate conference was going on in Durban. This seems to me to be further evidence of how irrelevant science was to that Durban conference.
Climate theater of the absurd.
The key thing to understand about the climate talks is that they’re not really about the climate. They’re about power and money. They are about the desire of fast-growing emitters such as Brazil, South Africa, India and China to extract billions in so-called climate reparations from rich countries, especially the United States. These and other so-called developing countries now account for more than half of greenhouse gas emissions. They want the rich countries to start cutting large amounts of carbon right away, while they do nothing. The rich countries are understandably reluctant. Hence the impasse.
Standing up for his rights: A University of Denver professor plans to teach the same course next spring that, because of two anonymous complaints, caused him to be suspended for more than 100 days.
“I did not do anything wrong,” Gilbert said. “If I cave in on this, it would be terrible for academic freedom,” he said, explaining the decision to carry on teaching the class despite the trouble it had caused for him.
