January 2012 archive

Bank Robbery

Cross posted fromThe Stars Hollow Gazette

Obama administration’s fear of fraud prosecutions

Cenk talks with “Rolling Stone” contributing editor Matt Taibbi about his new piece on the Obama administration’s lack of prosecutions for white collar crime. “If they pushed all these prosecutions, investors worldwide would see how epidemic corruption is on Wall Street,” Taibbi says. “They’re afraid of what the international reaction would be.” Cenk says while he doesn’t think President Obama is personally corrupt, “It’s the system that corrupts all these politicians.”

Obama and Geithner: Government, Enron-Style

by Matt Taibbi

Strongly recommend this piece at the Huffington Post by Jeff Connaughton, a former aide to Senator Ted Kaufman. Jeff is one of the smartest guys on the Hill and is particularly strong on issues surrounding Wall Street and the regulatory system. In this piece, he takes apart the oft-stated mantra that what Wall Street firms did during and after the crisis was maybe unethical, but not illegal.

He takes particular aim at Barack Obama, who recently tossed that line out on 60 Minutes in what I thought was one of the real low moments of his presidency. Here’s Jeff’s take:

   Speaking in Kansas on December 6, (Obama) said, “Too often, we’ve seen Wall Street firms violating major anti-fraud laws because the penalties are too weak and there’s no price for being a repeat offender.” Just five days later on 60 Minutes, he said, “Some of the least ethical behavior on Wall Street wasn’t illegal.” Which is it? Have there been no prosecutions because Wall Street acted legally (albeit unethically)? Or did Wall Street repeatedly violate major anti-fraud laws (and should thus find itself in the dock)?

   The President is confusing “legal” with “difficult to prosecute successfully.”

The notion that what Wall Street firms did was merely unethical and not illegal is not just mistaken but preposterous: most everyone who works in the financial services industry understands that fraud right now is not just pervasive but epidemic, with many of the biggest banks committing entire departments to the routine commission of fraud and perjury – every single one of the major banks, for instance, devotes significant manpower to robosigning affidavits for foreclosures and credit card judgments, acts which are openly and inarguably criminal.

How Banks Cheat Taxpayers

by Matt Taibbi

A good friend of mine sent me a link to a small story last week, something that deserves a little attention, post-factum.

The Bloomberg piece is about J.P. Morgan Chase winning a bid to be the lead underwriter on a $400 million bond issue by the state of Massachusetts. Chase was up against Merrill for the bid and won the race with an offer of a 2.57% interest rate, beating Merrill’s bid of 2.79. The difference in the bid saved the state of Massachusetts $880,000. [..]

Except in four out of five cases, it still doesn’t happen that way. From the same piece [emphasis mine]:

   Nationwide, about 20 percent of debt issued by states and local governments is sold through competitive bids. Issuers post public notices asking banks to make proposals and award the debt to the bidder offering the lowest interest cost. The other 80 percent are done through negotiated underwriting, where municipalities select a bank to price and sell the bonds.

By “negotiated underwriting,” what Bloomberg means is, “local governments just hand the bid over to the bank that tosses enough combined hard and soft money at the right politicians.” [..]

There is absolutely no good reason why all debt issues are not put up to competitive bids. [..]

[T]his is a bond issue, not rocket science. In most cases, all the top investment banks will offer virtually the same service, with only the price varying. Towns and cities and states lose billions of dollars every year allowing financial services companies to overcharge them for underwriting.

Much to Forgive: The Story of Bibi Sadia

by Kathy Kelly and the Afghan Youth Peace Volunteers

January 3, 2012

Kabul – Bibi Sadia and her husband Baba share a humble home with their son, his wife and their two little children. An Afghan human rights advocate suggested that we listen to Bibi’s stories and learn more about how a Pashto family has tried to survive successive tragedies in Kabul.

Holding her three year old granddaughter in her arms, Bibi adjusted her hijab and launched into a narrative that began during the Soviet occupation.  The mujahideen had asked Baba to bring them medicines two or three times a week for those injured in the war. For each batch of medicines that Baba delivered, the mujahideen paid him a small sum of money. When the Russian occupiers discovered what he was doing, they beat him severely.  After that, the mujahideen accused him of spying for the Russians and they also beat him badly.

The vicious beatings gave him perforated ear drums requiring six operations and left him permanently hard of hearing.

They also left him mentally unsound, so that Bibi became the sole breadwinner for the family.  “During the time of the Taliban,” Bibi tells us with a soft smile, “I used to make bread, wash clothes and reap other people’s wheat to earn a living,” The mujahideen, having ousted Russia’s favored government and its army, were now in power and frowned on women working.  “I used to work by the moonlight, sewing clothes from animal hide”.

Eventually, Bibi found work as a cleaner at the Aliabad Hospital in Kabul, but the Taliban who had gained power frowned on women working. One evening, the Taliban had come to the hospital and insisted on taking a particular male staff member away.  Warned by the hospital manager, the man in question had managed to escape, but Bibi was not so lucky. When the Taliban spotted her working, they started slapping her. “I crouched in a corner and didn’t speak. When the hospital manager asked them why they were beating me, they said they had previously warned me against working at the hospital and that I hadn’t heeded their warnings.”  This incident was actually Bibi’s first warning, but not her last.

Cartnoon

Fastest with the Mostest

Supply and Demand

Crossposted from The Stars Hollow Gazette

The key problem in Academic Economics at the moment is that it’s been replaced by tortoise shell shaking Shamen muttering mystical protestations of faith in the cult worship of Mammon by fairy believing fools.

The Misinformation Around Debt

By: David Dayen, Firedog Lake

Monday January 2, 2012 10:15 am

(T)he key problem for US debt at the moment is that there won’t be enough of it to meet current demand. Choppy waters elsewhere have made US Treasuries, the same ones supposedly downgraded by Standard and Poor’s, perceived as the safest financial instrument in the world. Treasuries sold at a higher pace than anytime since 1995. Government could finance at a negative long-term interest rate. The markets want the government to borrow more so they can get their hands on more Treasuries. This will also likely increase economic performance, improving yields across the board.

Nobody Understands Debt

By PAUL KRUGMAN

Published: January 1, 2012

It’s true that foreigners now hold large claims on the United States, including a fair amount of government debt. But every dollar’s worth of foreign claims on America is matched by 89 cents’ worth of U.S. claims on foreigners. And because foreigners tend to put their U.S. investments into safe, low-yield assets, America actually earns more from its assets abroad than it pays to foreign investors. If your image is of a nation that’s already deep in hock to the Chinese, you’ve been misinformed. Nor are we heading rapidly in that direction.



Washington isn’t just confused about the short run; it’s also confused about the long run. For while debt can be a problem, the way our politicians and pundits think about debt is all wrong, and exaggerates the problem’s size.



(W)hen people in D.C. talk about deficits and debt, by and large they have no idea what they’re talking about – and the people who talk the most understand the least.

Perhaps most obviously, the economic “experts” on whom much of Congress relies have been repeatedly, utterly wrong about the short-run effects of budget deficits. People who get their economic analysis from the likes of the Heritage Foundation have been waiting ever since President Obama took office for budget deficits to send interest rates soaring. Any day now!

And while they’ve been waiting, those rates have dropped to historical lows. You might think that this would make politicians question their choice of experts – that is, you might think that if you didn’t know anything about our postmodern, fact-free politics.

Clap louder.  LOUDER!!!

What is it about loud that you don’t understand?

On this Day In History January 4

Cross posted from The Stars Hollow Gazette

This is your morning Open Thread. Pour your favorite beverage and review the past and comment on the future.

Find the past “On This Day in History” here.

January 4 is the fourth day of the year in the Gregorian calendar. There are 361 days remaining until the end of the year (362 in leap years).

On this day in 1987, Spanish guitar great Andres Segovia arrives in the United States for his final American tour. He died four months later in Madrid at the age of 94.

Segovia was hailed for bringing the Spanish guitar from relative obscurity to classical status. Born in Spain’s southern region of Andalusia–the original home of the guitar–Segovia studied the piano and cello as a child but soon became captivated with the guitar. Knowing of no advanced teachers of an instrument that was generally banished to the cafes, he taught himself and in 1909 gave his first public performance at the age of 15. To successfully render classical material, Segovia invented countless new techniques for the guitar, and by his first appearance in Paris in 1924, he was a virtuoso. His American debut came four years later in New York City.

Muse in the Morning

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Muse in the Morning

Time for a break from poetry…in order to create some art.

You are not here merely to make a living. You are here in order to enable the world to live more amply, with greater vision, with a finer spirit of hope and achievement. You are here to enrich the world, and you impoverish yourself if you forget the errand.

–Woodrow Wilson



Drips 1

Late Night Karaoke

So, how ’bout those candidates?

Ron Paul

Mitt Romney

Iowa Caucus Open Thread

Now many may disagree with me (including TheMomCat and we have discussed this lots of times) but I think the Iowa Caucuses and New Hampshire Primary serve a valuable role by forcing the .01% political elite to slum amongst us 99.99% rabble and kiss ass for votes instead of simply holding an auction.

Each one tests a different aspect of a candidate’s campaign.  In Iowa the test is organization, getting your votes to the poll and keeping them yours.  In New Hampshire it’s a test of campaigning, developing a message of broad appeal and delivering it.  Not so easy in a State with no big cities, no dominant newspapers (the Union Leader is a mere pretender) and only 1 TV Station.  It’s also a test of finances since you have to shop in Massachusetts where the prices are much higher, not because of taxes but because the market is bigger.

That said I thought no one could care less about the results of the Republican Caucuses than me.  I am proven wrong by Rick Perlstein

(Y)ou probably couldn’t find a political junky in America less interested to the supposedly hotly contested race for the Republican nomination. I called it for Willard “Mitt” Romney well over three years ago-the day he finished second to John McCain in 2008. That made him “next in line;” and our modern Republican Party pretty much always nominates the next in line, or at the very least The Logical Choice Of The Party Establishment. In 1968, it was Nixon, the former vice president. In ’76 it was the accidental president, Gerald Ford. The guy who came in second in ’76, Ronald Reagan, was nominated in 1980; Vice President Bush, the man who finished second in ’80, in ’88. Old Man Dole in ’96. Son of Bush in 2000. Mighty McCain in 2008.

Matt Taibbi’s critique is a bit more far reaching and less petty-

It takes an awful lot to rob the presidential race of this elemental appeal. But this year’s race has lost that buzz. In fact, this 2012 race may be the most meaningless national election campaign we’ve ever had. If the presidential race normally captivates the public as a dramatic and angry ideological battle pitting one impassioned half of society against the other, this year’s race feels like something else entirely.

In the wake of the Tea Party, the Occupy movement, and a dozen or more episodes of real rebellion on the streets, in the legislatures of cities and towns, and in state and federal courthouses, this presidential race now feels like a banal bureaucratic sideshow to the real event – the real event being a looming confrontation between huge masses of disaffected citizens on both sides of the aisle, and a corrupt and increasingly ideologically bankrupt political establishment, represented in large part by the two parties dominating this race.



The auctioned election process is designed to reduce the field to two candidates who will each receive hundreds of millions of dollars apiece from the same pool of donors. Just take a look at the lists of top donors for Obama and McCain from the last election in 2008.



Obama’s list included all the major banks and bailout recipients, plus a smattering of high-dollar defense lawyers from firms like WilmerHale and Skadden Arps who make their money representing those same banks. McCain’s list included exactly the same banks and a similar list of law firms, the minor difference being that it was Gibson Dunn instead of WilmerHale, etc.



Those numbers tell us that both parties rely upon the same core of major donors among the top law firms, the Wall Street companies, and business leaders – basically, the 1%. Those one-percenters always give generously to both parties and both presidential candidates, although they sometimes will hedge their bets significantly when they think one side or the other has a lopsided chance at victory. That’s clearly what happened in 2008, when Wall Street correctly called Obama as a 2-1 (or maybe a 7-3) favorite to beat McCain.

The 1% donors are remarkably tolerant. They’ll give to just about anyone who polls well, provided they fall within certain parameters. What they won’t do is give to anyone who is even a remote threat to make significant structural changes, i.e. a Dennis Kucinich, an Elizabeth Warren, or a Ron Paul (hell will freeze over before Wall Street gives heavily to a candidate in favor of abolishing their piggy bank, the Fed). So basically what that means is that voters are free to choose anyone they want, provided it isn’t Dennis Kucinich, or Ron Paul, or some other such unacceptable personage.

If the voters insist on supporting such a person in defiance of these donors – this might even happen tonight, with a Paul win in Iowa – what you inevitably end up seeing is a monstrous amount of money quickly dumped into the cause of derailing that candidate.



The reason 2012 feels so empty now is that voters on both sides of the aisle are not just tired of this state of affairs, they are disgusted by it. They want a chance to choose their own leaders and they want full control over policy, not just a partial say. There are a few challenges to this state of affairs within the electoral process – as much as I disagree with Paul about many things, I do think his campaign is a real outlet for these complaints – but everyone knows that in the end, once the primaries are finished, we’re going to be left with one 1%-approved stooge taking on another.



The only place we can be absolutely sure this battle will not be found is in any national presidential race between Barack Obama and someone like Mitt Romney.

The campaign is still a gigantic ritual and it will still be attended by all the usual pomp and spectacle, but it’s empty. In fact, because it’s really a contest between 1%-approved candidates, it’s worse than empty – it’s obnoxious.

It was always annoying when these two parties and the slavish media that follows their champions around for 18 months pretended that this was a colossal clash of opposites. But now, with the economy in the shape that it’s in thanks in large part to the people financing these elections, that pretense is more than annoying, it’s offensive.

And I imagine that the more they try to play up the drama of these familiar-but-empty campaign rituals, the more irritating to the public it will all become. In fact, I wouldn’t be surprised if, before the season is out, the campaign itself will become a hated symbol of the 1% — with the conventions and the networks’ broadcast tents outside the inevitable “free speech zones” attracting protests the same way the offices of Chase and Bank of America did this fall.

Speaking of Matt Taibbi, Rajiv Sethi has an interesting piece up over at Yves place speculating on a Goldman-style ‘Pump and Dump’ in the Intrade prediction market driving the Santorum Surge (minds out of the gutter folks) and Romney’s enhanced chances of victory.

Public Policy Polling which has proven remarkably accurate recently predicts a Photo Finish with Ron Paul at 20%, Mitt Romney at 19%, and Rick Santorum at 18%; and as if you haven’t had enough Horse Race metaphors, John Aravosis points out this interesting graphic at Slate.

Jon Walker likes gambling on Poker better-

The Wild Card Factors

Probably the two biggest wild cards are turnout and whether Michele Bachmann and Rick Perry are able to hold their support. It is possible some of their socially conservative supporters might at the last minute move strategically to Santorum, because they see his momentum making him the strongest anti-Romney.

Similarly it is possible the Paul campaign could bring in a significant number of new, unlikely caucus voters tipping the balance for him. It is possible a large number of anti-war and/or anti-drug war independents will choose to show up at the caucus, change their registration to GOP, and vote for Paul. With overall turnout likely to be about only 130,000, as little as a few hundred votes could make a difference.

Now you can find a live blog almost anywhere except here.  Not only am I uninterested in any of the above (call me Uncommitted though some think I should be), I am also still visiting my TVless friend and if I want to watch the results at all I’ll have to do it through CurrentTV’s livestream and sadly my laptop lacks to horsepower to stream and blog at the same time.

However if you have any observations you’d care to share please do so below.

It is, after all, an Open Thread.

Today on The Stars Hollow Gazette

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Cartnoon

I Love A Parade

The Paul Puzzle

Crossposted from The Stars Hollow Gazette

As we head into the Iowa Caucuses Ron Paul seems more popular than ever and there is at least an even chance he’ll pull off an upset victory.

I’ve drawn your attention to some of the deep philosophical problems with Libertarianism (C’thulhu fhtagn), but recognizing those leaves open the question- just what is so appealing about Ron Paul?

There are those who will argue that his appeal to the Tea Party crowd is based on his history of racism, but instead I would argue that it’s the result of his ‘principled’ stands in favor of individual rights and the populist perception that he is not beholden to the corporatist status quo (though reading the citations in my earlier piece should disabuse you of the notion that the Libertarian future is any less driven by mega corporations, greed and power).

It is indeed this perception of populism that gives him ‘crossover’ appeal to Independents and Liberals.  Remember, Independents are anything BUT ‘Swing Voters’.  An overwhelming majority are disaffected from one branch or the other of our two headed hydra duopoly.

Glenn Greenwald and Matt Stoller have recently published some pieces examining this phenomena.

Progressives and the Ron Paul fallacies

Glenn Greenwald, Salon

Saturday, Dec 31, 2011 11:15 AM

The worst attributes of our political culture – obsession with trivialities, the dominance of horserace “reporting,” and mindless partisan loyalties – become more pronounced than ever. Meanwhile, the actually consequential acts of the U.S. Government and the permanent power factions that control it – covert endless wars, consolidation of unchecked power, the rapid growth of the Surveillance State and the secrecy regime, massive inequalities in the legal system, continuous transfers of wealth from the disappearing middle class to large corporate conglomerates – drone on with even less attention paid than usual.

Because most of those policies are fully bipartisan in nature, the election season – in which only issues that bestow partisan advantage receive attention – places them even further outside the realm of mainstream debate and scrutiny.



(T)here’s the inability and/or refusal to recognize that a political discussion might exist independent of the Red v. Blue Cage Match. Thus, any critique of the President’s exercise of vast power (an adversarial check on which our political system depends) immediately prompts bafflement (I don’t understand the point: would Rick Perry be any better?) or grievance (you’re helping Mitt Romney by talking about this!!). The premise takes hold for a full 18 months – increasing each day in intensity until Election Day – that every discussion of the President’s actions must be driven solely by one’s preference for election outcomes (if you support the President’s re-election, then why criticize him?).



(H)ere’s the Publisher of The Nation praising Ron Paul not on ancillary political topics but central ones (“ending preemptive wars & challenging bipartisan elite consensus” on foreign policy), and going even further and expressing general happiness that he’s in the presidential race. Despite this observation, Katrina vanden Heuvel – needless to say – does not support and will never vote for Ron Paul (indeed, in subsequent tweets, she condemned his newsletters as “despicable”). But the point that she’s making is important, if not too subtle for the with-us-or-against-us ethos that dominates the protracted presidential campaign: even though I don’t support him for President, Ron Paul is the only major candidate from either party advocating crucial views on vital issues that need to be heard, and so his candidacy generates important benefits.

Whatever else one wants to say, it is indisputably true that Ron Paul is the only political figure with any sort of a national platform – certainly the only major presidential candidate in either party – who advocates policy views on issues that liberals and progressives have long flamboyantly claimed are both compelling and crucial. The converse is equally true: the candidate supported by liberals and progressives and for whom most will vote – Barack Obama – advocates views on these issues (indeed, has taken action on these issues) that liberals and progressives have long claimed to find repellent, even evil.



The simple fact is that progressives are supporting a candidate for President who has done all of that – things liberalism has long held to be pernicious. I know it’s annoying and miserable to hear. Progressives like to think of themselves as the faction that stands for peace, opposes wars, believes in due process and civil liberties, distrusts the military-industrial complex, supports candidates who are devoted to individual rights, transparency and economic equality. All of these facts – like the history laid out by Stoller in that essay – negate that desired self-perception. These facts demonstrate that the leader progressives have empowered and will empower again has worked in direct opposition to those values and engaged in conduct that is nothing short of horrific. So there is an eagerness to avoid hearing about them, to pretend they don’t exist. And there’s a corresponding hostility toward those who point them out, who insist that they not be ignored.

The parallel reality – the undeniable fact – is that all of these listed heinous views and actions from Barack Obama have been vehemently opposed and condemned by Ron Paul: and among the major GOP candidates, only by Ron Paul. For that reason, Paul’s candidacy forces progressives to face the hideous positions and actions of their candidate, of the person they want to empower for another four years. If Paul were not in the race or were not receiving attention, none of these issues would receive any attention because all the other major GOP candidates either agree with Obama on these matters or hold even worse views.

Progressives would feel much better about themselves, their Party and their candidate if they only had to oppose, say, Rick Perry or Michele Bachmann. That’s because the standard GOP candidate agrees with Obama on many of these issues and is even worse on these others, so progressives can feel good about themselves for supporting Obama: his right-wing opponent is a warmonger, a servant to Wall Street, a neocon, a devotee of harsh and racist criminal justice policies, etc. etc. Paul scrambles the comfortable ideological and partisan categories and forces progressives to confront and account for the policies they are working to protect. His nomination would mean that it is the Republican candidate – not the Democrat – who would be the anti-war, pro-due-process, pro-transparency, anti-Fed, anti-Wall-Street-bailout, anti-Drug-War advocate (which is why some neocons are expressly arguing they’d vote for Obama over Paul). Is it really hard to see why Democrats hate his candidacy and anyone who touts its benefits?



Paul’s candidacy forces those truths about the Democratic Party to be confronted. More important – way more important – is that, as vanden Heuvel pointed out, he forces into the mainstream political discourse vital ideas that are otherwise completely excluded given that they are at odds with the bipartisan consensus.

There are very few political priorities, if there are any, more imperative than having an actual debate on issues of America’s imperialism; the suffocating secrecy of its government; the destruction of civil liberties which uniquely targets Muslims, including American Muslims; the corrupt role of the Fed; corporate control of government institutions by the nation’s oligarchs; its destructive blind support for Israel, and its failed and sadistic Drug War. More than anything, it’s crucial that choice be given to the electorate by subverting the two parties’ full-scale embrace of these hideous programs.



Can anyone deny that (a) those views desperately need to be heard and (b) they are not advocated or even supported by the Democratic Party and President Obama? There are, as I indicated, all sorts of legitimate reasons for progressives to oppose Ron Paul’s candidacy on the whole. But if your only posture in the 2012 election is to demand lockstep marching behind Barack Obama and unqualified scorn for every other single candidate, then you are contributing to the continuation of these policies that liberalism has long claimed to detest, and bolstering the exclusion of these questions from mainstream debate.

If you’re someone who is content with the Obama presidency and the numerous actions listed above; if you’re someone who believes that things like Endless War, the Surveillance State, the Drug War, the sprawling secrecy regime, and the vast power of the Fed are merely minor, side issues that don’t merit much concern (sure, like a stopped clock, Paul is right about a couple things); if you’re someone who believes that the primary need for American politics is just to have some more Democrats in power, then lock-step marching behind Barack Obama for the next full year makes sense.

But if you don’t believe those things, then you’re going to be searching for ways to change mainstream political discourse and to disrupt the bipartisan consensus which shields these policies from all debate, let alone challenge. As imperfect a vehicle as it is, Ron Paul’s candidacy – his success within a Republican primary even as he unapologetically challenges these orthodoxies – is one of the few games in town for achieving any of that (now that Johnson has left the GOP and will [likely] run as the Libertarian Party candidate, perhaps he can accomplish that as well).

Matt Stoller: Why Ron Paul Challenges Liberals

Matt Stoller, Naked Capitalism

Thursday, December 29, 2011

Modern liberalism is a mixture of two elements. One is a support of Federal power – what came out of the late 1930s, World War II, and the civil rights era where a social safety net and warfare were financed by Wall Street, the Federal Reserve and the RFC, and human rights were enforced by a Federal government, unions, and a cadre of corporate, journalistic and technocratic experts (and cheap oil made the whole system run.) America mobilized militarily for national priorities, be they war-like or social in nature. And two, it originates from the anti-war sentiment of the Vietnam era, with its distrust of centralized authority mobilizing national resources for what were perceived to be immoral priorities. When you throw in the recent financial crisis, the corruption of big finance, the increasing militarization of society, Iraq and Afghanistan, and the collapse of the moral authority of the technocrats, you have a big problem. Liberalism doesn’t really exist much within the Democratic Party so much anymore, but it also has a profound challenge insofar as the rudiments of liberalism going back to the 1930s don’t work.

This is why Ron Paul can critique the Federal Reserve and American empire, and why liberals have essentially no answer to his ideas, arguing instead over Paul having character defects. Ron Paul’s stance should be seen as a challenge to better create a coherent structural critique of the American political order. It’s quite obvious that there isn’t one coming from the left, otherwise the figure challenging the war on drugs and American empire wouldn’t be in the Republican primary as the libertarian candidate. To get there, liberals must grapple with big finance and war, two topics that are difficult to handle in any but a glib manner that separates us from our actual traditional and problematic affinity for both. War financing has a specific tradition in American culture, but there is no guarantee war financing must continue the way it has. And there’s no reason to assume that centralized power will act in a more just manner these days, that we will see continuity with the historical experience of the New Deal and Civil Rights Era. The liberal alliance with the mechanics of mass mobilizing warfare, which should be pretty obvious when seen in this light, is deep-rooted.

What we’re seeing on the left is this conflict played out, whether it is big slow centralized unions supporting problematic policies, protest movements that cannot be institutionalized in any useful structure, or a completely hollow liberal intellectual apparatus arguing for increasing the power of corporations through the Federal government to enact their agenda. Now of course, Ron Paul pandered to racists, and there is no doubt that this is a legitimate political issue in the Presidential race. But the intellectual challenge that Ron Paul presents ultimately has nothing to do with him, and everything to do with contradictions within modern liberalism.

I would argue with Glenn about the deprivation of essential liberty being limited to Muslims-

First they came for the communists,

and I didn’t speak out because I wasn’t a communist.

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