About Damn Time

The Iowa Supreme Court issued a unanimous ruling Friday finding that the state’s same-sex-marriage ban violates the constitutional rights of gay and lesbian couples, making Iowa the third state where marriage is legal.

In its decision, the court upheld a 2007 district court judge’s ruling that the law violates the state constitution. It strikes the language from Iowa code limiting marriage to only between a man a woman.

“The court reaffirmed that a statute inconsistent with the Iowa constitution must be declared void even though it may be supported by strong and deep-seated traditional beliefs and popular opinion,” said a summary of the ruling issued by the court.

Are you sure we are talking about Iowa?  A unanimous decision?  All the others like New Hampshire or California were split decisions, but Iowa?

This is a great civil rights victory for gays and will be interesting to see where it will lead.  Will other states follow suit?

Someone Thank A Smoker

Federal taxes also are going up Wednesday on other tobacco products, including cigars. Federal per-cigar taxes, which vary based on weight and price, used to be capped at 4.9 cents but now are capped at 40.26 cents.

The tobacco tax hikes, which President Obama signed into law in February, will be used to finance an expansion of the State Children’s Health Insurance Program, or SCHIP. The expansion, which will cost $35 million over five years, is expected to secure federally funded health care for an additional 4 million children.

Before the expansion, SCHIP covered almost 7 million children whose parents earn too much to qualify for Medicaid — the federal health insurance program for the poor — but can’t afford private insurance.

So if anyone is benefitting from the SCHIP program in the future then the smoker is helping your child get the medical care that they are needing.

Someone…somewhere…say thanks.

Workers Beware!

The measures announced Monday confirm once again that the Obama administration is a government of, by and for the financial elite which exerts a stranglehold over the economy and controls the entire political establishment.

The investment bankers represented by Obama are using the economic crisis as an opportunity to fundamentally restructure class relations in America. Culminating a three-decade offensive against working people, they are destroying whatever remains of the gains made by previous generations of workers so as to intensify the exploitation of the working class.

The attack on auto workers will become the spearhead for similar attacks against workers throughout the country and internationally, in every sector of the economy. Wage cuts, layoffs and cuts in benefits and social programs will be implemented across the board. The Obama administration has already made clear that it is targeting basic entitlement programs such as Social Security, Medicare and Medicaid.

After the auto companies received government loans last year, the UAW promoted the lie that the Obama administration would take a pro-worker position and the union bureaucracy enthusiastically backed his campaign. This, just as every other policy of the union, has proven to be a trap and betrayal of the workers’ interests.

The War of the Collars is approaching……which side of the line will you stand?

Here Is A Thought

When did identity theft become a big problem?  Could it have been around 2000 or 2001?  Why do you ask, Professor?

Back in the days of all the arguing about the Gramm-Leach-Bliley Act of 1999 and then the Financial Services Modernization Act of 2000, which by the way, could be traced back as the beginning of the economic crisis, because of its deregul;ation of the finance industry, which in turn allowed all the credit trading and as we have been told was the “culprit” in the present economic situation.

But there was another argument in the opposition to these two pieces of legislation….it was the fact that the personal information of consumers was not adequately protected.  All the supporters of the Act assured the people that the Act was not going to effect consumers in anyway, but rather make it easier for the people to have access to loans to better their lives.

In a report written by the Electronic Privacy Information Center:

Consumers have no right under the GLBA to stop sharing of NPI among affiliates. An affiliate is any company that controls, is controlled by, or is under common control with another company. The individual consumer has absolutely no control over this kind of “corporate family” trading of personal information.

There are several exemptions under the GLBA that can permit information sharing over the consumer’s objection. For instance, if a financial institution wishes to engage the services of a separate company, they can transfer personal information to that company by arguing that the information is necessary to the services that the company will perform. A financial institution can transfer information to a marketing or sales company to sell new products (different stocks) or jointly offered products (co-sponsored credit cards). Once this unaffiliated third party has your personal information, they can share it with their own “corporate family.” However, they themselves cannot likewise transfer the information to further companies through this exemption.

Last year, identity theft cost the consumer billions upon billions, and it has been steadily on the rise since the enacting of the FSMA of 2000.

Sen. Dorgan of North Dakota said the the Act would put the US economy in peril in 10 years and so far …HE WAS RIGHT.  And consumer institutions were concerned that the people’s privacy was not protected in the ACT….so far…THEY WERE RIGHT!

So far the FSMA,  started in the Clinton Admin,  has been nothing but sorrow for the people of the US.  It helped make the economic crisis….it did not protect the consumer……and it definitely help turn the American consumer into an incurable credit addict…….it was a lose…lose…lose….piece of legislation that made millionaires into billionaires and the middle class into the homeless.

We can all be proud of Washington……(btw, that is sarcasm)

What To Do About This?

A 14-year-old New Jersey girl has been accused of child pornography after posting nearly 30 explicit nude pictures of herself on MySpace.com — charges that could force her to register as a sex offender if convicted.

The teen, whose name has not been released because of her age, was arrested and charged with possession of child pornography and distribution of child pornography. She was released to her mother’s custody.

If convicted of the distribution charge, she would be forced to register with the state as a sex offender under Megan’s Law, said state Attorney General Anne Milgram. She also could face up to 17 years in jail, though such a stiff sentence is unlikely.

Okay sports fans, while I have a problem with child porn and think it is disgusting I have a problem with this story.  The child could have to register as a sex offender for having pics of herself…….thinking……why is that porn?  Could it possibly be that the girl likes her body?  Something not many teens her age can say.

I am sorry, but I do not see this is a crime…now if she was charging aprice to view her pics then maybe, but I guess that since it was on Myspace it is considered public.  Was her space locked to all but friends?  There has to be more to this story than published….so far I do not see a crime that would justify a possiblity of 17 years in the slammer.

I Am Protected!

U.S. District Judge David S. Cercone ruled David Hackbart exercised his constitution right to free speech in 2006 when he angrily displayed his middle finger to another driver during a parking dispute in Squirrel Hill and when he displayed the same gesture to Officer Brian Elledge, who told Hackbart to stop.

“The United States Supreme Court has long recognized that non-verbal gestures and symbols may be entitled to First Amendment protection,” Cercone wrote in his 19-page opinion and order filed Monday. “Moreover, several courts, including federal and state courts in Pennsylvania, have found that the expressive use of the middle finger is protected speech under the First Amendment.”

Now there is a precedent for the use of the middle finger as free speech…….my only problem is that few display it properly.  Just raising you middle finger does convey the thought but it is not proper “English”.  As part of the generation that made the finger a symbol of the times, I cringe when I see people just throw the finger out there, instead of taking the time to learn to display it properly and more effectively.

What Is That Sucking Sound?

Dunno?  It is coming out of Washington.  Want some help?  It is the GOP!

Susan Estrich of http://www.creators.com wrote:

The Republicans in Congress are irrelevant — either because, in the smallest number, they go along with the Democrats, or because they just say no and lose. Either way, they’re part of the problem and not a place to find an answer. Lately, most of the Republican talking heads I see are so busy trying to figure out whether Rush Limbaugh is or is not their leader that they lose any claim to being leaders themselves.

Not one of the Repubs have anything to offer as an alternative to the Dem agenda.  All I have seen and heard are from memos sent out with their daily talking points and they all stick to them like good little puppies.  My fav is their new talking point that the recession be renamed the “Pelosi Recession”.

The conservative Dems are doing a better job at opposing the prez than the GOP.  But beyond that, where were the concerns with spending when GW was throwing money away like a drunken sailor in Sinapore?  They are just , as usual, playing politics.  They have NOTHING to offer the people as an alternative to the economic situation the country is facing.  The best they can do is to just say NO to everything Democratic.

If Washington is a circus, then GOP the Clown is the main attraction, for now.

What To Do? Economically That Is!

There are about as many opinions as a/holes in Washington on how to solve the economic crisis in the US.  There are the Keynesians, the Austrians, are the most talked about in these days of turmoil.

Keynes argued that the solution to depression was to stimulate the economy (“inducement to invest”) through some combination of two approaches: a reduction in interest rates, and government investment in infrastructure. Investment by government injects income, which results in more spending in the general economy, which in turn stimulates more production and investment involving still more income and spending and so forth. The initial stimulation starts a cascade of events, whose total increase in economic activity is a multiple of the original investment.

And then there is the Austrian school of economics.

Austrian Economics is a school of economics that emphasizes the spontaneous organizing power of the price mechanism, holds that the complexity of subjective human choices makes mathematical modelling of the evolving market extremely difficult (or impossible) and therefore advocates a laissez faire approach to the economy. Austrian School economists advocate the enforcement of voluntary contractual agreements between economic agents, but otherwise the smallest imposition of coercive force (especially government-imposed) on commercial transactions.

There are the two approaches that are being considered in the nation’s capital.  There are many adherents to these schools, but which will be the savior of the nation’s economy?

To me the Austrian school sounds like more deregulation and that is one of the main causes that let the economy get so out of control.  I will agree that the government cannot spend its way into a sound economy, but having no control over the beast of greed will not do it either.

What Is That Sucking Sound?

Dunno?  It is coming out of Washington.  Want some help?  It is the GOP!

Susan Estrich of http://www.creators.com wrote:

The Republicans in Congress are irrelevant — either because, in the smallest number, they go along with the Democrats, or because they just say no and lose. Either way, they’re part of the problem and not a place to find an answer. Lately, most of the Republican talking heads I see are so busy trying to figure out whether Rush Limbaugh is or is not their leader that they lose any claim to being leaders themselves.

Not one of the Repubs have anything to offer as an alternative to the Dem agenda.  All I have seen and heard are from memos sent out with their daily talking points and they all stick to them like good little puppies.  My fav is their new talking point that the recession be renamed the “Pelosi Recession”.

The conservative Dems are doing a better job at opposing the prez than the GOP.  But beyond that, where were the concerns with spending when GW was throwing money away like a drunken sailor in Sinapore?  They are just , as usual, playing politics.  They have NOTHING to offer the people as an alternative to the economic situation the country is facing.  The best they can do is to just say NO to everything Democratic.

If Washington is a circus, then GOP the Clown is the main attraction, for now.

Trillion Dollar Bank Plan

WTF?

President Obama said today that his economic team is “very confident” that the administration’s newest effort to stabilize banks — a mix of public and private funds that could total $1 trillion — will help to free up credit.

The plan aims to remove so-called toxic assets — many of them bad mortgage investments — from the banks’ balance sheets through a private-public partnership. The program will rely heavily on private investors, such as hedge funds and private-equity firms, to buy up $500 billion to $1 trillion of assets with the government providing incentives such as low interest loans and sharing in both the risk and possible profits. The plan announcement jolted stocks on Wall Street, with the Dow Jones industrial average rallying nearly 500 points, or 6.8 percent, to 7785.86 — the fifth biggest point gain in history.

The new program will use between $75 billion-$100 billion of Treasury funds from the Troubled Asset Relief Program and leverage $500 billion with the potential to expand to $1 trillion of private purchasing power with financing from the Federal Reserve System and the Federal Deposit Insurance Corp.

Using the Fed and the FDIC, the government will leverage private capital by co-investing with the private sector. If the private sector has financing provided by the government, buying these assets becomes a more attractive option.

Second, the administration wants the market, not the government, to set the price for these assets.

Third, the private sector will invest alongside the taxpayer on an equal basis, so both parties share the downside risk and upside potential.

To accomplish this, the treasury will partner with the FDIC in a program where banks can bring assets they want to sell to the FDIC. The FDIC will provide leverage, then the assets will be sold in the market, where private market participants will bid on them, thereby setting the price. Then the government can co-invest with the private sector to buy pools of toxic assets and clean up the banks’ balance sheets.

Okay, I really hate to be a downer right now, but this sounds very similar to the program that Paulson came up with and was called the TARP.  Few though that it would work then, and some do not see this working now……wait see.