Bigotry on campus

The newly named “associate dean for equity and inclusion” at the College of Engineering at the University of California, Berkeley, is promising “disruptive progress” in his effort to increase minorities at the school.

The plan [pdf] includes more money for staffing and facilities for the “equity and inclusion” department, plus more money and power for student organizations. Sadly, this is money and facilities that will no longer be available for actual education or research.
» Read more

Focusing in on the theft of customer funds at MF Global

Focusing in on the theft of customer funds at MF Global.

Not surprisingly, this article from the liberal New York Times plays the game of “Name that party!”, conveniently forgetting to mention anywhere that Jon Corzine and all his associates just happen to big-time Democratic Party players. To remind them, and everyone else, here’s a little video illustrating how closely linked the Democrats and Jon Corzine are:

Obamacare abominations

Obamacare abominations.

You would think a piece of legislation more than a thousand pages long would at least be clear about the specifics. But a lot of those pages say: “The secretary will determine …” That means the secretary of health and human services will announce the rules sometime in the future. How can a business make plans in such a fog?

Repeal this abomination already before it destroys the country.

Global warming is good for you!

Here are two stories that illustrate why we shouldn’t be in a panic over climate change. Though it is important to study the climate and to learn as much as we can about it, it is at this time inappropriate to impose draconian regulations on the world’s populations so that whole economies are destroyed out of fear of climate change. We just don’t know enough about the consequences of climate change. Global warming might even be beneficial!

First, from Nature this story: Global warming wilts malaria. It appears that the assumption that warmer climates would increase malaria epidemics is completely wrong. Instead, warmer temperatures act to hinder the survival of the malaria parasite in mosquitoes.
» Read more

Obamacare: 2011 in review

The disaster of Obamacare: 2011 in review.

The Daily Caller does an excellent job reviewing the key events during 2011 relating to Obamacare. In toto what this history tells me is that this law continues to be serious political problem for Democrats: the law isn’t doing what it was touted to do while doing serious harm to both the economy and the healthcare industry, the public hates it and wants it repealed, and everyone knows that it was the Democrats who forced it on us.

Former astronaut John Grunsfeld is to take over NASA’s science post from Ed Weiler

Excellent choice: Former astronaut John Grunsfeld has been picked to take over NASA’s chief science post from Ed Weiler.

Not only is Grunsfeld an excellent choice, his experience as an astronaut repairing Hubble will help improve relations between the science and manned space programs. In the past, scientists have often argued against manned space, trying to get that money for their unmanned research probes. Instead, when manned space got cut, so did science, and no one won. Grunsfeld’s leadership I think will forestall these short-sighted complaints.

The astonishing collapse of MF Global

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.

Deficit may be biggest threat to ObamaCare

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.

The Great Spending Betrayal

The great spending betrayal.

Over Friday and Saturday, 61% of House Republicans and 34% of Senate Republicans voted for the omnibus megabus bill. In doing so, not only did they violate their pledge pertaining to bundled (1200-page) bills and the 72-hour layover rule and agree to fund Obamacare, Dodd-Frank, Planned Parenthood, the EPA, the PLO and the UN; they actually agreed to spend almost $9 billion more than last year. Overall, budget authority will be $33 billion higher than the House budget, while appropriations for non-defense spending will be $45 billion more. One of the members who voted in the affirmative even agreed that he had voted for a “crap sandwich.”

One reason the budget is still growing is that two-thirds of the government is still controlled by the spendthrift Democratic Party. A second reason is that there are too many wimpy Republicans willing to compromise with these spendthrifts.

Which is why we have elections. 2012 should help fix this problem.

Obama’s Watergate

Obama’s Watergate.

Operation Fast and Furious was run by the Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) and overseen by the Justice Department. It started under the leadership of Attorney General Eric H. Holder Jr. Fast and Furious enabled straw gun purchases from licensed dealers in Arizona, in which more than 2,000 weapons were smuggled to Mexican drug kingpins. ATF claims it was seeking to track the weapons as part of a larger crackdown on the growing violence in the Southwest. Instead, ATF effectively has armed murderous gangs. About 300 Mexicans have been killed by Fast and Furious weapons. More than 1,400 guns remain lost.

Budget deal cuts EPA by three percent

Another science budget update from Nature states that the budget deal will cut EPA by three percent.

This cut reduces EPA’s budget from its 2011 numbers by about $400 million. However, the agency’s total 2012 budget of $8.4 billion is still $1 billion more than it got in 2008, hardly what I’d call a draconian cut.

Once again, the inability of Congress to seriously face the deficit issue threatens to eventually destroy the U.S.’s ability to do any science. A bankrupt nation can’t do much but feed itself, as the scientists in the Soviet Union learned back in the 1990s.

The Fukushima nuclear reactor has reached the state of cold shutdown

Good news: The Fukushima nuclear reactor has reached the state of cold shutdown.

This means that the reactor core has cooled enough that there is no need to recirculate the water to keep the fuel cool. However, because the reactor continues to leak that water recirculation is still necessary, and will be for years.

As is typical of many modern journalists, the article above is also an unstated editorial both hostile to nuclear energy as well as private enterprise, best shown by the article’s concluding paragraph:

Meanwhile, the Japanese public and many of its politicians remained deeply mistrustful of the situation at Fukushima. In this week’s issue of Nature, two members of the Japanese parliament call for nationalization of the Fukushima Plant, to allow scientists and engineers to investigate exactly what happened inside the reactors, and to reassure the public that the decommissioning will be done with their interests at heart. Regardless of whether you agree with the authors, nationalization seems almost inevitable. The lengthy decommissioning process that will follow this cold shutdown, and the enormous cost involved, make it a job for a government, not a corporation. [emphasis mine]

First, he has no idea what the Japanese public thinks of this situation. Second, there is no evidence that the government could do this job better than the company that runs the reactor. Both conclusions are mere opinion, inserted inappropriately in a news article without any supporting proofs.

1 317 318 319 320 321 358