Anyone who thinks it can't get worse hasn't much imagination.

Once again "Some Assembly Required" has a quick rundown on the insanity that passes for "governance" in this, The USA, "greatest country on Earth", "Land Of The Free, Home Of The Brave", a "shining light" to other countries.

We are about to teach them (other countries) how to pare down the population, allow people to die from treatable conditions, and have some either starve to death or get very sick from poor nutrition.

Heck, I guess they HAVE to let gay and lesbian soldiers serve -- it's a whole new demographic they can kill off -- and, some of the young men are intelligent, in good shape, and motivated. So are many of the lesbians. Good new cannon fodder.

Here we have a few things from "Some Assembly Required": (follow link to original)

Monday, December 20, 2010


Anyone who thinks it can't get worse hasn't much imagination.

Extrapolate: Lloyds has written off 54% of its £26.7bn portfolio of its Irish loans – including expected 90% losses on commercial real estate. Roll that out and it translates into huge write-offs for banks across the Continent and in the US. Carry it forward to Greece, Portugal, Spain, Belgium...

Data Point: 64% of America's jobless have been out of work since before Christmas 2009.

Bond holders versus the populace: Remember that social unrest isn't supposed to happen in the Western world anymore. But as banks continue to shift their losses onto the populace, perhaps the winter of our discontent is at hand.

Rehabilitation: “I don’t think Obama is abandoning his principles for political advantage; these are his principles.”

Wonderland: Now the Pentagon has banned reporters for Stars and Stripes from reading the WikiLeaks cables. First it was grad students that were told not to read 'em, then employees at State, then the troops, then even scientists at the South Pole, while the Air Force has forbidden access to the websites of newspapers that have published WikiLeaks material. This bunch can’t even do censorship right.

Not in My Neighborhood: If you want to cut Medicaid, not extend it, tell me what you suggest we do instead. Nothing? Good luck with that.

Big Wow: The headline reads “Financial Interests Dictate Sovereign Policy.” [The title now reads “Greed is Not Good”, which also strikes me as not an earth shattering revelation.] I didn't think I needed to read the article itself, but the bit about “starving the slaves” seemed pretty good. I rather think they are burning down the barn to warm the horses...

Before Sunset: In Washington, where it still seems to be September 30th, the House of Representatives voted on Friday to extend last year's budget for three days. Three days. A new budget was due Oct. 1, but the GOP just said no. That's because the Republicans want to wait until they control the House and can begin their pruning of wasteful spending on health care, the elderly, education, the EPA and the rest of those socialist programs.

Obviously: The Party of No's is more of a nightmare, not a DREAM.

Just Wondering... If the UK can “block all porn” on the internet, why is the US letting the proletariat access to WikiLeaks?

Clean Sweep: The votes are in and it was not even close – the Republican's win Lie of the Year for depicting the health care reform act as being “a government takeover of health care.” Which it was not. It was the government forcing citizens to give their money to the insurance industry, which continues to control health care in the United States. But the Republicans “didn't let facts get in the way..”

Stuffing: Between Thanksgiving and New Year's, Americans manage to throw out 25% more trash than normal, not counting the stuff they get from their mothers-in-law.

Oily Math: Crude oil production peaked at 73 mbd in 2005 (EIA). Next year we'll use 88.8 mbd (IEA). Is Santa going to bring the extra 15 mbd? Nah, it's just that not all oil is oil. There's crude, condensate, natural gas liquids, that stuff they mine in Canada, ethanol and some 2.2 mbd that just magically appears at refineries.

Whether Report: Vice President Biden pledges that all US troops would be out of Afghanistan by 2014, "come hell or high water." Looks like rain to me.

Yesterday: Federal funding for the Temporary Assistance For Needy Families (TANF) program has ended, leaving the states with 15% less money fund the main lifeline for families and workers who have exhausted their unemployment benefits. No room at the Inn, indeed.

Extrapolate: Lloyds has written off 54% of its £26.7bn portfolio of its Irish loans – including expected 90% losses on commercial real estate. Roll that out and it translates into huge write-offs for banks across the Continent and in the US. Carry it forward to Greece, Portugal, Spain, Belgium...

Data Point: 64% of America's jobless have been out of work since before Christmas 2009.

Bond holders versus the populace: Remember that social unrest isn't supposed to happen in the Western world anymore. But as banks continue to shift their losses onto the populace, perhaps the winter of our discontent is at hand.

Rehabilitation: “I don’t think Obama is abandoning his principles for political advantage; these are his principles.”

Wonderland: Now the Pentagon has banned reporters for Stars and Stripes from reading the WikiLeaks cables. First it was grad students that were told not to read 'em, then employees at State, then the troops, then even scientists at the South Pole, while the Air Force has forbidden access to the websites of newspapers that have published WikiLeaks material. This bunch can’t even do censorship right.

Not in My Neighborhood: If you want to cut Medicaid, not extend it, tell me what you suggest we do instead. Nothing? Good luck with that.

Ileana Ros-Lehtinen and Eric Cantor Protect Pedophiles [Anthony McCarthy]

Here is another post from Anthony McCarthy, writing on the blog "ECHIDNE of the snakes". Please follow link to original.

Once again, he highlights how callous our republican party is, what sort of "family values" they actually support.

We must all be ashamed of this -- and do whatever we can to reverse it.


Sunday, December 19, 2010
Ileana Ros-Lehtinen and Eric Cantor Protect Pedophiles [Anthony McCarthy]
(Source)


As posted here yesterday, the Republican caucus in the House of Representatives of the United States killed a bill that had been passed UNANIMOUSLY in the Senate that would have fought the practice of forced marriage of very young girls. The Republicans in the United States House of Representatives, the gang of thugs who are about to take it over, VOTED FOR CHILD RAPE.

the bill, S. 987, passed unanimously in the Senate (all 100 Republicans and Democrats), and was sent on to the House yesterday for final passage.

And as soon as it landed there, the Republican leadership set out to defeat it. First, just after noon yesterday, Congresswoman Ileana Ros-Lehtinen sent a "Dear Colleague" letter to House Republicans forcefully urging them "to oppose the Senate bill, S. 987, the “International Protecting Girls by Preventing Child Marriage Act of 2010,” when it comes up for a vote today in its current version."

This letter then went on to argue--without merit--that the bill would cost $108 million and urged votes for a "new" alternative bill crafted by Ros-Lehtinen.

In fact, S. 987 is an authorizing bill and contains no new funding. Rather, the bill was purposefully crafted to make the most effective use of existing U.S. international assistance by ensuring effective coordination among various development efforts.

And after that the Republican Whip, Eric Cantor issued what was, in effect, marching orders:

Later in the day, at 6:53 pm just before the vote was to be held, Eric Cantor's office sent out a "whip alert" to Legislative Directors of Republican offices, which now also contended that they should vote against the bill based on "pro-life" concerns.

What "pro-life" concerns? I find it literally impossible to say, since for one thing the bill itself seeks to protect and promote the life, health and survival of girls who are being married as young as age eight, and for another thing the bill, in that it seeks to prevent child marriage in the first place did not address the needs of already-married girls and young women who for obvious reasons otherwise need access to reproductive health care.

Let me repeat: This bill seeks to prevent children from being married and by extension from forcing young girls into sexual relations in a custom that is nothing but a blatant abuse of human rights.

The Republican Party, the "family values" party, the "pro-life" party voted as a bloc in the House of Representatives FOR THE RAPE OF CHILDREN, ensuring the early deaths of many young girls and the babies their bodies are too small and underdeveloped to give give birth to safely.

This is such an outrage that if it doesn't become as important a talking point as the trivia that so absorbs so much attention, I don't think any of us escapes the shame. As Eric Cantor appears on the Sunday morning BS shows, I doubt he will be asked about this. It's up to us to shame them into passing it. It's up to us to point out that this is a REAL instance in which the federal government is promoting pedophilia, child rape, the mutilation and deaths of children.

When Zombies Win

Here's Krugman's column from todays New York times. These truths cannot be repeated often enough. Obviously our right-wing wants to believe whatever fits their world view. What actually happens, or happened, matters not at all. Facts get twisted, ignored, selectively trimmed, pruned, and shaped to fit a predetermined idea of what THEY (the "Very Serious People") think facts SHOULD BE>

Here is Dr. Krugman's column - please follow link to original.


When Zombies Win
By PAUL KRUGMAN
Published: December 19, 2010


When historians look back at 2008-10, what will puzzle them most, I believe, is the strange triumph of failed ideas. Free-market fundamentalists have been wrong about everything — yet they now dominate the political scene more thoroughly than ever.


How did that happen? How, after runaway banks brought the economy to its knees, did we end up with Ron Paul, who says “I don’t think we need regulators,” about to take over a key House panel overseeing the Fed? How, after the experiences of the Clinton and Bush administrations — the first raised taxes and presided over spectacular job growth; the second cut taxes and presided over anemic growth even before the crisis — did we end up with bipartisan agreement on even more tax cuts?

The answer from the right is that the economic failures of the Obama administration show that big-government policies don’t work. But the response should be, what big-government policies?

For the fact is that the Obama stimulus — which itself was almost 40 percent tax cuts — was far too cautious to turn the economy around. And that’s not 20-20 hindsight: many economists, myself included, warned from the beginning that the plan was grossly inadequate. Put it this way: A policy under which government employment actually fell, under which government spending on goods and services grew more slowly than during the Bush years, hardly constitutes a test of Keynesian economics.

Now, maybe it wasn’t possible for President Obama to get more in the face of Congressional skepticism about government. But even if that’s true, it only demonstrates the continuing hold of a failed doctrine over our politics.

It’s also worth pointing out that everything the right said about why Obamanomics would fail was wrong. For two years we’ve been warned that government borrowing would send interest rates sky-high; in fact, rates have fluctuated with optimism or pessimism about recovery, but stayed consistently low by historical standards. For two years we’ve been warned that inflation, even hyperinflation, was just around the corner; instead, disinflation has continued, with core inflation — which excludes volatile food and energy prices — now at a half-century low.

The free-market fundamentalists have been as wrong about events abroad as they have about events in America — and suffered equally few consequences. “Ireland,” declared George Osborne in 2006, “stands as a shining example of the art of the possible in long-term economic policymaking.” Whoops. But Mr. Osborne is now Britain’s top economic official.

And in his new position, he’s setting out to emulate the austerity policies Ireland implemented after its bubble burst. After all, conservatives on both sides of the Atlantic spent much of the past year hailing Irish austerity as a resounding success. “The Irish approach worked in 1987-89 — and it’s working now,” declared Alan Reynolds of the Cato Institute last June. Whoops, again.

But such failures don’t seem to matter. To borrow the title of a recent book by the Australian economist John Quiggin on doctrines that the crisis should have killed but didn’t, we’re still — perhaps more than ever — ruled by “zombie economics.” Why?

Part of the answer, surely, is that people who should have been trying to slay zombie ideas have tried to compromise with them instead. And this is especially, though not only, true of the president.

People tend to forget that Ronald Reagan often gave ground on policy substance — most notably, he ended up enacting multiple tax increases. But he never wavered on ideas, never backed down from the position that his ideology was right and his opponents were wrong.

President Obama, by contrast, has consistently tried to reach across the aisle by lending cover to right-wing myths. He has praised Reagan for restoring American dynamism (when was the last time you heard a Republican praising F.D.R.?), adopted G.O.P. rhetoric about the need for the government to tighten its belt even in the face of recession, offered symbolic freezes on spending and federal wages.

None of this stopped the right from denouncing him as a socialist. But it helped empower bad ideas, in ways that can do quite immediate harm. Right now Mr. Obama is hailing the tax-cut deal as a boost to the economy — but Republicans are already talking about spending cuts that would offset any positive effects from the deal. And how effectively can he oppose these demands, when he himself has embraced the rhetoric of belt-tightening?

Yes, politics is the art of the possible. We all understand the need to deal with one’s political enemies. But it’s one thing to make deals to advance your goals; it’s another to open the door to zombie ideas. When you do that, the zombies end up eating your brain — and quite possibly your economy too.

This Week In Holy Crimes

From Joe.My.God. - please follow link to original


This Week In Holy Crimes

Over the last seven days...

New York: Monsignor Charles Kavanagh has been defrocked after being found guilty of child molestation by a three-priest Catholic tribunal. He is the highest-ranked New York priest so judged and has not faced criminal charges.
Oklahoma: Pastor Baron Hopgood arrested for embezzlement.
Ireland: Father Oliver O'Grady charged with possessing thousands of child porn images.
Ohio: Pastor Mark Griggs charged with more than 100 felony counts of possessing and distributing child porn.
Britain: Monsignor Michael Smith arrested for child molestation.
Colorado: Pastor Loren Ankarlo pleads guilty to multi-million dollar securities fraud.
Ontario: Father Donald Grecco found guilty on 24 counts of molesting altar boys.
Missouri: Father Gerald Howard indicted on three counts of forcible sodomy of a child. Howard was previously convicted of similar crimes in New Jersey under a different name.
Ohio: Pastor Robert Jones fails to appear at his trial for brandishing a gun at a drive-thru bank teller.
Ireland: Father Tony Walsh likely to have molested hundreds, according to a new report.
Britain: Vicar Dominic Stone convicted of possessing child porn.
Nevada: Pastor Joshua De Los Santos arrested for assaulting a member of a "competing" church for not being holy enough.
Tennessee: Pastor David Hoschar indicted for possessing child porn.

This Week's Winner
Georgia: Bishop Eddie Long, who is already facing lawsuits from four young men who accuse him of sexual coercion, has been linked to a massive mortgage fraud operation being run from his church. According to CBS Atlanta, thousands may have lost their homes after paying $1500 during church seminars held by a company that promised to lower their house payments. CBS reports that the seminars are still being held.

STOP 'N GO by Charllie Ventura with Charlie Shavers 1947

now, for something a little different -- a blast from the Jazz past -- Charlie Ventura - with Charlie Shavers (a little remembered trumpet player), and Kai Winding (one of the very best trombone players of his, or any other era). I do not know the personnel on Limehouse Blues. In any case -- enjoy.

East Of Suez by Charlie Ventura & Kai Winding from 1947, taken off Emarcy 1956 LP.

Charlie Ventura - Limehouse Blues

Child Abuse

Whenever a severely abused child is found, everyone goes tsk-tsk-tsk. They pontificate about our society, about values, about whatever promotes their damn aganda.

Let's face it -- CHILD ABUSE IS INSTITUTIONALIZED IN THE USA. It's the approved form of "discipline".

Children abuse other children -- and most folks don't really give a damn. Both boys and girls are abused by thoughtless parents, insane schools, and a callous society.

Heck, there are still "religious" folks who dismiss the YEARS of CHILD RAPE by the Roman Catholic Church. The main fuss is over -- so, it's back to business as usual (with the support of government).

Here in the USA, children go hungry, children are used in many ways by their parents, children do not receive a decent education, children raise themselves with TV and unrealistic ideas about the world.

We have an insane society that is hell-bent on destroying itself.

The ^8#@^!* OBAMA Tax Cuts

So, the Dems passed the "Obama Tax Cuts" (they no longer belong to Bush) -- and the republicans managed to turn THEIR disaster into a resounding VICTORY!

Not only have they won back the house -- by running against the very massive recession (depression) THEY CAUSED, they also managed to totally split the Democratic Party. Any "liberal", or "progressive" who still supports Obama is a fool.

Somehow, the ever vigilant American, or is that "Murrican" voter decided to bring those who CAUSED the problem back to SOLVE IT -- using the very same tactics that caused the economy to tank in the first place. There is one new wrinkle -- with Obama's support, the Republicans in Congress want to DESTROY Social Security. I'm afraid, this time it will happen.

Once again, we (working, middle, and retired class) will pay for the sins of the bankers and the rich.

When Enron failed, they managed to prosecute some of the malefactors -- their only problem was that they were not quite big enough, and were not among a whole group of firms that failed. If they had been, there would have been a bailout, and it would be business as usual.

Heck, today, there are some republicans who are still blaming Gray Davis for problems caused by Enron dishonesty.

They are in the process of rewriting history, again, and again, and again.

Our voting public seems not to give a damn -- perhaps the collapse of the USA will make good TV, be something to talk about, and bring some excitement to otherwise drab lives.

Also, notice how EVERYTHING seems to come before education. ANYONE who says, "It's for the children" before some insane idea is a LIAR and should be run out of town -- at the very least.

Problem Bank List

By the way, just a little detail -- this for those who think we really do have a wonderful recovery underway: "Unofficial Problem Bank list increases to 920 Institutions".

Isn't it wonderful?

Springtime for Hypocrites

Today Paul Krugman - a voice of reason - has another insightful post on his blog. Please follow link to original

December 18, 2010, 11:45 am
Springtime for Hypocrites

It has been a great week on the hypocrisy front. A couple of high points:

The hypocrisy of the apparatchiks: Joe Nocera amplifies some of the points I made in my column. The determination of the Republicans on the crisis commission to lay the blame on Fannie and Freddie flies right in the face of the evidence; and Nocera also adds some information on the curious switch of positions taking place. A few years ago the same people now attacking F&F for promoting loans to low-income borrowers were attacking F&F for … not promoting loans to low-income borrowers. Back then they castigated F&F by pointing to the fact that private lenders were making loans where the agencies refused to tread, now they say that it was F&F that lured the private sector into making those very same loans.

Whatever. It must be the government’s fault, because, you know, because.

The hypocrisy of the centrists: Just two weeks ago, the deficit was the great evil, and all the VSPs insisted that we needed fiscal austerity now now now. Then, magically, a big tax cut — increasing federal debt by more than the original Obama stimulus, and substantially raising the probability of making unaffordable tax cuts permanent — was the greatest thing since sliced bread.

Why, it’s almost as if all the concern about the deficit was a front for opposing anything progressives might want, to be dropped as soon as debt was being run up on behalf of conservative goals. But that can’t be true, can it?

In a way, I almost welcome the frankness of someone like Ron Paul, who tells us that there’s no need for any kind of bank regulations. It’s crazy, of course — even Adam Smith called for bank regulations, comparing them to building regulations designed to prevent the spread of fires. But at least the guy’s consistent.

House Republians Strike A Blow FOR Forced Child "Marriage" [Anthony McCarthy]

This direct from "ECHIDNE of the snakes", a post written by Anthony McCarthy. Please follow link to original. I think it's important because it shows how TWISTED the "values" of today's Republicans are. It is a shame -- and all "decent Americans" should be both ashamed of, and frightened by our government. We have NO "left wing" left, no real opposition to the crazyness put out by both neo-libs and neo-cons, supported by insane-right-wing-religious-nuts.


"House Republians Strike A Blow FOR Forced Child "Marriage" [Anthony McCarthy]
I don't recognize this country anymore. It used to be that you could count on a minimal level of decency to override opportunism and expediency in, at least, the most obvious cases. Clearly, with the Republicans and their enablers in and out of the government, that's not the case anymore.

The House of Representatives failed to pass S. 987 , The International Protecting Girls by Preventing Child Marriage Act because House Republicans voted to kill it. The "family values" party is striking a blow for legalized rape of young girls. The bill passed unanimously in the Senate, ironically enough. The House was under rules suspension and the bill would have needed a 2/3rds majority to pass. I guess the leadership in the House was overly confident that a sufficient number of Republicans had a shred of decency when it came to little girls being sold to adult perverts in "marriage". There is no doubt, whatsoever, that they do now that this has happened.

Sen. Dick Durbin (D-Ill.), who sponsored the bill, had a blunt response in a late-night press release:
The action on the House floor stopping the Child Marriage bill tonight will endanger the lives of millions of women and girls around the world. These young girls, enslaved in marriage, will be brutalized and many will die when their young bodies are torn apart while giving birth. Those who voted to continue this barbaric practice brought shame to Capitol Hill.

Apparently, taking advantage of the frantic, confused atmosphere in the lame duck session, Republicans mounted a lie campaign against the bill that led even its anti-choice supporters to get cold feet.

In the hours before the vote, Republicans circulated a memo to pro-life members of Congress alleging that the bill could fund abortions and use child marriage "to overturn pro-life laws." It also reiterated concerns over the bill's cost. When it came time for a vote, a number of the bill's pro-life supporters in both parties abandoned ship. Even co-sponsors of the corresponding House bill (H.R. 2103), like Marcy Kaptur (D-Ohio) and Lee Terry (R-Neb.), voted against it.

The bill mentions nothing about abortion.

In all my years of watching Republican-blue dog depravity, this reaches a new low. Resurrecting this bill must be a priority but I doubt it will get done. The Republican Party is the shame of the United States. It is the foremost concentration of pure evil in our society. Which is why we cannot stand by quietly as Barack Obama and Harry Reid capitulate to them."

Next -- Ella

A little music for a Saturday

1974 - Ella Fitzgerald - It Don't Mean a thing

Ella Fitzgerald : One note Samba (scat singing) 1969

Ella Fitzgerald - Black Coffee

Ella Fitzgerald - Blue Skies

Ella Fitzgerald - Ev'ry Time We Say Goodbye

Cry me a river, Ella Fitzgerald

Ella Fitzgerald - Misty

We either need more resources or fewer people. Pick one.

By the way, Some Assembly Required has some really WONDERFUL Holiday JOY, some more GREAT News. All I can say is: RUN, RUN! HIDE, HIDE!!

- as always, please follow link to original


Day Late, Not a Dollar Short: Goldman Sachs executives are set to collect $111 million in delayed 2007 and 2009 bonuses they earned by bringing down the economy and forcing the taxpayers to bail them out.

Hearts & Mines: After completing work on the Army's Counterinsurgency manual, General David Petraeus went to Afghanistan to win hearts and minds. Which doesn't explain why the US has dramatically stepped up air strikes in Afghanistan and Afghanistan-East and is sending special operations forces on more and more raids.

Asked & Asked: "Why Aren't More Bankers Going To Jail?" The only visible answer seems to be “Because they're bankers. They have money.” Cue Heavenly Choir.

Unanimity: A University of Maryland survey agreed with previous studies in finding that Fox News viewers are “significantly more misinformed” than those who get their news elsewhere. From here, for example.

Sic Transit Gloria: The only superpower in the world has spent over $1 trillion in ten years of unending war in Afghanistan and Iraq. Yet no one cares. Not the politicians, not the citizens. There is no outrage at the cost, no outrage at the dead and wounded soldiers, no outrage at the war crimes, torture, dead civilians and ruined societies left in the rubble. We are oblivious to the implications – fiscally, politically, economically and personally. Don’t touch my benefits.

GOP Spews Economic Fiction Again

This from Robert Oaks blog on The Economic Populist - please follow link to original.


GOP Spews Economic Fiction Again
Submitted by Robert Oak on Wed, 12/15/2010 - 13:03

It seems the only thing most Republicans know about economics is the price of propaganda to get job killing corporate and special agendas through Congress. This time is a winner, winner, chicken dinner. For a $2 buck derivatives bet you can blame the poor and middle class.

Ya know the housing bubble, all of those derivatives, the sub-prime disaster, credit default swaps that caused financial Armageddon? Oops, not so, say four Republicans on the Financial Crisis Inquiry Panel. They hate truth so much, they are going to write their own report, a tale of spin built upon the weave of woe. Call it Goldisachs in Kansas, or My Pet Scapegoat, but do not call it anything founded in economic theory and financial statistical reality.

The four Republicans appointed to the commission investigating the root causes of the financial crisis plan to bypass the bipartisan panel and release their own report Wednesday, according to people familiar with the commission's work.

The Republicans, led by the commission's vice chairman, former congressman and chair of the House Ways and Means Committee Bill Thomas, will likely focus their report on the explosive growth of subprime mortgages and the heavy role played by the federal government in pushing mortgage giants Fannie Mae and Freddie Mac to purchase and insure them. They'll also likely focus on the Community Reinvestment Act, a 1977 law that encourages banks to lend to underserved communities, these people said.

The Republicans' report is expected to conclude that government policy helped inflate the housing bubble and that prices weren't expected to crash because the government pushed homeownership so aggressively. They say that the report will note that once the bubble burst, a financial panic followed because firms weren't adequately prepared.

Calculated Risk came to prominence due to his unnerving economic accuracy, in particular on housing data. This is what he had to say about this report:

How depressing.

If Nasiripour story is correct, the explanations offered by these four individuals are blatantly false. Lets name names: Bill Thomas, Peter Wallison, Keith Hennessey and Douglas Holtz-Eakin. These are all subprime thinkers.

Naked Capitalism:

This whole line of thinking is garbage, the financial policy equivalent of arguing that the sun revolves around the earth. Yes, the US and other countries provide overly generous subsidies to housing, and curtailing them over time would not be a bad idea. But that’s been our policy for decades. Calling that a major, let alone primary, cause of the crisis, is simply a highly coded “blame the poor” strategy, In reality, both the runup to the crisis and its aftermath were on of the greatest wealth transfers from the citizenry at large to a comparatively small group of rentiers in the history of man.

Ritholtz on the AEA propaganda paper of similar chants:

I’ve given up reading anything from the AEI. They are idiot savants, minus the savant part.

Its a bore reading the same discredited, data-free memes: The CRA caused the crisis, Fannie Mae caused the crisis, the FHA caused the crisis. Its become embarrassing to read.

Their latest release combines all three memes in one giant clusterfuck of imbecility:

Paul Krugman also had some choice words:

I really do wonder how this country can remain governable, when one party insists on creating its own reality. Next thing you know they’re going to reject the theory of evolution. Oh, wait …

Economic fiction has got to stop. Just because some corporate lobbyist writes up a PDF and even puts some pictures in it, doesn't make it so. Trust the above bloggers, they read this stuff and I do too. So should you. Learn to get a critical eye on this never ending snow job on what policy does what and which events caused what. Learn to understand a number, recognize a manipulated chart. Over and over again we have pure financial and economic fiction being spun as fact, due to some special interest or corporate lobbyists' desired agenda. It's running this country into the ground

157

Farmers & Merchants Savings Bank, Manchester, Iowa, Assumes All of the Deposits of Community National Bank, Lino Lakes, Minnesota

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov

Community National Bank, Lino Lakes, Minnesota, was closed today by The Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Farmers & Merchants Savings Bank, Manchester, Iowa, to assume all of the deposits of Community National Bank.

The two branches of Community National Bank will reopen on Saturday as branches of Farmers & Merchants Savings Bank. Depositors of Community National Bank will automatically become depositors of Farmers & Merchants Savings Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Community National Bank should continue to use their existing branch until they receive notice from Farmers & Merchants Savings Bank that it has completed systems changes to allow other Farmers & Merchants Savings Bank branches to process their accounts as well.

This evening and over the weekend, depositors of Community National Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Community National Bank had approximately $31.6 million in total assets and $28.8 million in total deposits. Farmers & Merchants Savings Bank did not pay the FDIC a premium for the deposits of Community National Bank In addition to assuming all of the deposits of the failed bank, Farmers & Merchants Savings Bank agreed to purchase essentially all of the assets.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-356-1848. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/communitynatl.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $3.7 million. Compared to other alternatives, Farmers & Merchants Savings Bank's acquisition was the least costly resolution for the FDIC's DIF. Community National Bank is the 157th FDIC-insured institution to fail in the nation this year, and the eighth in Minnesota. The last FDIC-insured institution closed in the state was Community Security Bank, New Prague, on July 23, 2010.

156

Southern Bank, Poplar Bluff, Missouri, Assumes All of the Deposits of First Southern Bank, Batesville, Arkansas

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov

First Southern Bank, Batesville, Arkansas, was closed today by the Arkansas State Bank Department, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Southern Bank, Poplar Bluff, Missouri, to assume all of the deposits of First Southern Bank.

The two branches of First Southern Bank will reopen during normal business hours beginning Saturday as branches of Southern Bank. Depositors of First Southern Bank will automatically become depositors of Southern Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of First Southern Bank should continue to use their existing branch until they receive notice from Southern Bank that it has completed systems changes to allow other Southern Bank branches to process their accounts as well.

This evening and over the weekend, depositors of First Southern Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, First Southern Bank had approximately $191.8 million in total assets and $155.8 million in total deposits. Southern Bank paid the FDIC a premium of 0.25 percent to assume all of the deposits of First Southern Bank. In addition to assuming all of the deposits of the failed bank, Southern Bank agreed to purchase approximately $152.8 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-331-6306. The phone number will be operational this evening until 9:00 p.m., Central Standard Time (CST); on Saturday from 9:00 a.m. to 6:00 p.m., CST; on Sunday from noon to 6:00 p.m., CST; and thereafter from 8:00 a.m. to 8:00 p.m., CST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/firstsouthern.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $22.8 million. Compared to other alternatives, Southern Bank's acquisition was the least costly resolution for the FDIC's DIF. First Southern Bank is the 156th FDIC-insured institution to fail in the nation this year, and the first in Arkansas. The last FDIC-insured institution closed in the state was ANB Financial, NA, Bentonville, on May 9, 2008.

Merry Christmas!! - The Failure Of Bank # 155 This Year

State Bank and Trust Company, Macon, Georgia, Assumes All of the Deposits of United Americas Bank, National Association, Atlanta, Georgia

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov

United Americas Bank, National Association, Atlanta, Georgia, was closed today by The Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with State Bank and Trust Company, Macon, Georgia, to assume all of the deposits of United Americas Bank, N.A.

The two branches of United Americas Bank, N.A. will reopen during normal business hours beginning Saturday as branches of State Bank and Trust Company. Depositors of United Americas Bank, N.A. will automatically become depositors of State Bank and Trust Company. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of United Americas Bank, N.A. should continue to use their existing branch until they receive notice from State Bank and Trust Company that it has completed systems changes to allow other State Bank and Trust Company branches to process their accounts as well.

This evening and over the weekend, depositors of United Americas Bank, N.A. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, United Americas Bank, N.A. had approximately $242.3 million in total assets and $193.8 million in total deposits. State Bank and Trust Company did not pay the FDIC a premium for the deposits of United Americas Bank, N.A. In addition to assuming all of the deposits of the failed bank, State Bank and Trust Company agreed to purchase essentially all of the assets.

The FDIC and State Bank and Trust Company entered into a loss-share transaction on $195.8 million of United Americas Bank, N.A.'s assets. State Bank and Trust Company will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-405-1498. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/unitedamericas.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.8 million. Compared to other alternatives, State Bank and Trust Company's acquisition was the least costly resolution for the FDIC's DIF. United Americas Bank, N.A. is the 155th FDIC-insured institution to fail in the nation this year, and the 21st in Georgia. The last FDIC-insured institution closed in the state was Appalachian Community Bank, F.S.B., McCaysville, earlier today.

Mine Safety Bill DEFEATED!!

There's a blog called "AllGov - Everything Our Government Really Does" that can be very interesting. Here's a little tid-bit from today. Please go to the original (follow link) and read some more.



Friday, December 17, 2010
Mine Safety Bill Defeated
Nine months after the worst coal mining disaster in decades, the U.S. House of Representatives has squandered an opportunity to strengthen federal regulation of mine operations.

The Robert C. Byrd Mine Safety Protection Act, named after the longtime senator from West Virginia, was defeated in the closing days of Congress’ lame-duck session after 27 Democrats and all but one Republican (Walter Jones of North Carolina) refused to support the measure. A vote to suspend debate on the bill needed two-thirds support. Although the vote in favor was 214-193, the majority was not enough to meet the threshold.

The bill would have increased penalties for serious safety violations, granted more protection for whistleblowers and would have made it easier to close problem mines.

The mining industry managed to kill the legislation despite spending less money on lobbying this year ($21 million) than previous ones. It did receive help from the Chamber of Commerce and the National Association of Manufacturers in defeating the plan.

The industry handed out $3.7 million in campaign contributions during this year’s election, with 71% going to Republicans.

Last April, 29 coal miners were killed at West Virginia’s Upper Big Branch mine, prompting a slew of outrage as well as promises of new federal powers for mine regulators.

Forty-eight coal miners have died on the job in the U.S. this year—the most since 1992, when 55 coal miners were killed.
----------------------------------------------------------

Interesting, no? Think about all this stuff when you listen to another "legislator" extoling the supposed "American Virtues".

After all, workers in many countries have FAR better working conditions than we do here. What we do to, and DEMAND from, workers here would cause a general strike in many places --- AND --- we don't even give them HEALTH CARE, and are trying to take away both pensions and Social Security.

The most amazing thing is that "our" government does this with the STRONG support from many of the working class -- who are complicit in their own oppression.

Wonderful job of marketing by our peerless leaders.

Scores die as drones renew attack on Pakistan's Khyber

Isn't this just dandy? Our Pres, who ran on a policy OPPOSING war has escalated one while CLAIMING to end the other. We are drowning in debt, people are losing their homes, their life savings, and instead of focus, Pres. Obama is screwing around in places where armies go to die. What a F*^&$%@ JOKE.


17 December 2010 Last updated at 13:40 ET


Scores die as drones renew attack on Pakistan's Khyber

Nearly 60 people have been killed in a series of attacks by US drones in the past 24 hours in Pakistan's Khyber tribal district, officials say.

At least 50 died in three unmanned air strikes in the Tirah Valley, a day after seven others were killed nearby.

Security officials say all the dead in the attacks are militants - a claim that cannot be independently confirmed.

Meanwhile, the CIA has withdrawn its top spy from Pakistan, amid threats to his life, US intelligence confirms.

The Islamabad station chief had been identified in a lawsuit linking him to drone strikes, and media coverage of the legal action led to his name appearing on placards during anti-US protests in the Pakistani capital.

'Leaders killed'

US drone attacks in Pakistan's tribal region have increased under the presidency of Barack Obama, often occurring several times every week.

But the US now appears to be expanding its campaign to other parts of the tribal belt, as most of these attacks have been in the Waziristan region, says the BBC's Syed Shoaib Hasan in Karachi.

Drone attacks in Khyber are rare.

The first missile attack on Friday in the Tirah Valley is said to have taken place at 0800 local time (0300 GMT).

Seven Taliban militants died and 11 were injured when two vehicles were targeted in the Sandana area, a Pakistani security official told the BBC.

Those killed were militants from outside the Khyber tribal region, said the official.

Minutes later there was another attack in the Speen Drang area at a compound where pro-Taliban militants from the Lashkar-e-Islam group were holding a meeting.

At least 32 people, including senior leaders of the group, died, according to the official.

The Lashkar-e-Islam group is trying to enforce its hardline version of Sharia law in the area. A small number of its militants are involved in fighting Nato forces across the border in Afghanistan.

The third attack took place in the afternoon in the Narai Baba area, the official said.

"A compound was hit killing at least 11 militants," the official told the BBC. "All were from Swat and were taking refuge due to the military operation there."

On Thursday, at least seven more militants loyal to Taliban chief Hafiz Gul Bahadur died when several drone missiles demolished a house.

'UK militants' mystery

The BBC's Syed Shoaib Hasan in Karachi says Khyber is an unusual target for drone attacks, as it is not usually seen as a major militant sanctuary.

The Waziristan tribal area is believed to be the main haven for the leadership of the Taliban and al-Qaeda.
Pakistanis protest against US drone attacks in Islamabad on 10 December 2010 The drone attacks have inflamed Pakistani public opinion

But with many militants having fled to other parts of the tribal belt due to drone strikes, the US now wants to target these new havens, says our correspondent.

It emerged this week that two white British al-Qaeda members had apparently died in a US drone raid in North Waziristan in recent days.

The Muslim converts, aged 48 and 25, were killed in a missile attack on a vehicle six days ago, said Pakistani officials.

They told the BBC the Britons' surnames were Stephen and Dearsmith.

There have been more than 100 attacks by pilotless US aircraft in 2010, most of them in North Waziristan.

Drone strikes are credited with killing some top insurgents, but are also blamed for civilian deaths.

The attacks have angered Pakistani public opinion. The country's government criticises such strikes, saying they merely fuel support for militants.

But analysts say Pakistani officials privately condone and probably provide intelligence for such strikes.

Pakistan's military has launched offensives in parts of the north-west, including the Swat Valley, but the insurgents continue to mount attacks.

The US military and the CIA do not routinely confirm that they have launched drone operations, but analysts say only American forces have deployed such aircraft in the regio

154

Peoples Bank of East Tennessee, Madisonville, Tennessee, Assumes All of the Deposits of Appalachian Community Bank, F.S.B., McCaysville, Georgia

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov

Appalachian Community Bank, F.S.B., McCaysville, Georgia, was closed today by The Office of Thrift Supervision, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Peoples Bank of East Tennessee, Madisonville, Tennessee, to assume all of the deposits of Appalachian Community Bank, F.S.B., except for brokered deposits and certain out-of-state certificates of deposit (CD).

The three branches of Appalachian Community Bank, F.S.B. will reopen during normal business hours beginning Saturday as branches of Peoples Bank of East Tennessee. Depositors of Appalachian Community Bank, F.S.B. will automatically become depositors of Peoples Bank of East Tennessee. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Appalachian Community Bank, F.S.B. should continue to use their existing branch until they receive notice from Peoples Bank of East Tennessee that it has completed systems changes to allow other Peoples Bank of East Tennessee branches to process their accounts as well.

This evening and over the weekend, depositors of Appalachian Community Bank, F.S.B. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Appalachian Community Bank, F.S.B. had approximately $68.2 million in total assets and $76.4 million in total deposits. Peoples Bank of East Tennessee did not pay the FDIC a premium for the deposits of Appalachian Community Bank, F.S.B. In addition to assuming all of the deposits of the failed bank, Peoples Bank of East Tennessee agreed to purchase approximately $67.5 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and Peoples Bank of East Tennessee entered into a loss-share transaction on $46.4 million of Appalachian Community Bank, F.S.B.'s assets. Peoples Bank of East Tennessee will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-350-2746. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/appalachianga.html.

On Monday morning, the FDIC will mail checks to those customers with out-of-state CDs, as long as the funds were not used as collateral for a loan. Customers with brokered deposits should contact their broker directly to obtain information on the status of their funds.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $26.0 million. Compared to other alternatives, Peoples Bank of East Tennessee's acquisition was the least costly resolution for the FDIC's DIF. Appalachian Community Bank, F.S.B. is the 154th FDIC-insured institution to fail in the nation this year, and the 20th in Georgia. The last FDIC-insured institution closed in the state was Chestatee State Bank, Dawsonville, earlier today

153

Bank of the Ozarks, Little Rock, Arkansas, Assumes All of the Deposits of Chestatee State Bank, Dawsonville, Georgia

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov

Chestatee State Bank, Dawsonville, Georgia, was closed today by the Georgia Department of Banking and Finance, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with Bank of the Ozarks, Little Rock, Arkansas, to assume all of the deposits of Chestatee State Bank.

The four branches of Chestatee State Bank will reopen during normal business hours beginning Saturday as branches of Bank of the Ozarks. Depositors of Chestatee State Bank will automatically become depositors of Bank of the Ozarks. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of Chestatee State Bank should continue to use their existing branch until they receive notice from Bank of the Ozarks that it has completed systems changes to allow other Bank of the Ozarks branches to process their accounts as well.

This evening and over the weekend, depositors of Chestatee State Bank can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, Chestatee State Bank had approximately $244.4 million in total assets and $240.5 million in total deposits. Bank of the Ozarks did not pay the FDIC a premium for the deposits of Chestatee State Bank. In addition to assuming all of the deposits of the failed bank, Bank of the Ozarks agreed to purchase essentially all of the assets.

The FDIC and Bank of the Ozarks entered into a loss-share transaction on $195.3 million of Chestatee State Bank's assets. Bank of the Ozarks will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-238-8209. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/chestatee.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $75.3 million. Compared to other alternatives, Bank of the Ozarks's acquisition was the least costly resolution for the FDIC's DIF. Chestatee State Bank is the 153rd FDIC-insured institution to fail in the nation this year, and the 19th in Georgia. The last FDIC-insured institution closed in the state was Darby Bank & Trust, Vidalia, on November 12, 2010.

152

1st United Bank, Boca Raton, Florida, Assumes All of the Deposits of the Bank of Miami, National Association, Coral Gables, Florida

FOR IMMEDIATE RELEASE
December 17, 2010
Media Contact:
LaJuan Williams-Young
Office: (202) 898-3876
Email: lwilliams-young@fdic.gov

The Bank of Miami, National Association, Coral Gables, Florida, was closed today by The Office of the Comptroller of the Currency, which appointed the Federal Deposit Insurance Corporation (FDIC) as receiver. To protect the depositors, the FDIC entered into a purchase and assumption agreement with 1st United Bank, Boca Raton, Florida, to assume all of the deposits of The Bank of Miami, N.A.

The three branches of The Bank of Miami, N.A. will reopen on Monday as branches of 1st United Bank. Depositors of The Bank of Miami, N.A. will automatically become depositors of 1st United Bank. Deposits will continue to be insured by the FDIC, so there is no need for customers to change their banking relationship in order to retain their deposit insurance coverage up to applicable limits. Customers of The Bank of Miami, N.A. should continue to use their existing branch until they receive notice from 1st United Bank that it has completed systems changes to allow other 1st United Bank branches to process their accounts as well.

This evening and over the weekend, depositors of The Bank of Miami, N.A. can access their money by writing checks or using ATM or debit cards. Checks drawn on the bank will continue to be processed. Loan customers should continue to make their payments as usual.

As of September 30, 2010, The Bank of Miami, N.A. had approximately $448.2 million in total assets and $374.2 million in total deposits. 1st United Bank did not pay the FDIC a premium for the deposits of The Bank of Miami, N.A. In addition to assuming all of the deposits of the failed bank, 1st United Bank agreed to purchase approximately $442.3 million of the failed bank's assets. The FDIC will retain the remaining assets for later disposition.

The FDIC and 1st United Bank entered into a loss-share transaction on $313.5 million of The Bank of Miami, N.A.'s assets. 1st United Bank will share in the losses on the asset pools covered under the loss-share agreement. The loss-share transaction is projected to maximize returns on the assets covered by keeping them in the private sector. The transaction also is expected to minimize disruptions for loan customers. For more information on loss share, please visit: http://www.fdic.gov/bank/individual/failed/lossshare/index.html.

Customers who have questions about today's transaction can call the FDIC toll-free at 1-800-323-6111. The phone number will be operational this evening until 9:00 p.m., Eastern Standard Time (EST); on Saturday from 9:00 a.m. to 6:00 p.m., EST; on Sunday from noon to 6:00 p.m., EST; and thereafter from 8:00 a.m. to 8:00 p.m., EST. Interested parties also can visit the FDIC's Web site at http://www.fdic.gov/bank/individual/failed/bankofmiami.html.

The FDIC estimates that the cost to the Deposit Insurance Fund (DIF) will be $64.0 million. Compared to other alternatives, 1st United Bank's acquisition was the least costly resolution for the FDIC's DIF. The Bank of Miami, N.A. is the 152nd FDIC-insured institution to fail in the nation this year, and the 29th in Florida. The last FDIC-insured institution closed in the state was Gulf State Community Bank, Carrabelle, on November 19, 2010