Posts Tagged ‘capitalism


Chalk one up for the good guys

Bloomberg reports that the Feds have indicted Turing Pharmaceuticals CEO Martin Shkreli on fraud charges.

Surely you remember Martin, no? He founded Turing, bought the rights to a drug used to treat AIDS patients, and proceeded to raise the price from $13 a pill to $750 a pill, thus earning him the title to “the most hated man in America”. Even Donald Trump said he was a “spoiled brat”.

Shkreli promised to reduce the drug price cost after receiving a torrent of abuse, but then reneged on that promise. And just this week, in what can only be described as a “fuck you” to the world, he bought the only copy of a Wu-Tang Clan album for $2 million. Because when you’re a sociopath, you do things like that.

As the Bloomberg article points out, when he was again prodded to reduce the drug’s price, his response was a tweet which merely said “lol”. He also said if he had to do it over again, the would have raised the price even more, as his investors expected him to “maximize profits.”

Continue reading ‘Chalk one up for the good guys’


Rise and Shine

On This Day: April 3, 2013: “The President hugs Sue Connors and Jane Dougherty, right, following his remarks at the Denver Police Academy in Denver, Colo. The women lost their sister, Mary Sherlach, in the Sandy Hook Elementary School shootings in Newtown, Conn.” (Photo by Pete Souza)


Today (All Times Eastern):

3:20: President Obama welcomes the 2014 U.S. Olympic and Paralympic teams to the White House; East Room

4:0: Signs the Gabriella Miller Kids First Research Act

6:0: Meets with the bipartisan Congressional leadership




E.J. Dionne: The GOP Must Admit It Was Wrong On Obamacare

Is there any accountability in American politics for being completely wrong? Is there any cost to those who say things that turn out not to be true and then, when their fabrications or false predictions are exposed, calmly move on to concocting new claims as if they had never made the old ones? The fact that the Affordable Care Act (ACA) hit its original goal this week of signing up more than 7 million people through its insurance exchanges ought to be a moment of truth — literally as well as figuratively. It ought to give everyone, particularly members of the news media, pause over how reckless the opponents of change have been in making instant judgments and outlandish charges.

When the health-care Web site went haywire last fall, conservatives were absolutely certain this technological failure meant that the entire reform effort was doomed. If you doubt this, try a Google search keyed to that period relating the word “doomed” to the health-care law. It should be said that the general public was much wiser. A CNN poll in November that Post blogger Greg Sargent highlighted at the time found a majority (54 percent to 45 percent) saying that the problems facing the law “will eventually be solved.” Political moderates took this view by 55 percent to 43 percent, independents by 50 percent to 48 percent. Only Republicans — by a whopping 72 percent to 27 percent — and conservatives (by 66 percent to 33 percent) thought the law could never be fixed.

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Chan Lowe: Obamacare Beats Its Goal

You have to respect the tenacity of Republicans, especially those who’ve been catering to their benighted primary voters back home by beating the hell out of the ACA. They’ve adhered to a long obstructionist tradition that includes opposition to FDR’s Social Security and LBJ’s Great Society initiatives. They know full well that these “giveaway” programs, as they like to call them, develop faithful constituencies. Once the programs are entrenched, any attempt to destroy them has a way of backfiring on the perpetrator. The Affordable Care Act now boasts over seven million individual advocates, many of whom will be benefiting from preventive health care for the first time in their lives.

As their cancers and other diseases are caught and treated in their incipient stages — before they become fatal — the newly anointed are likely to go out among the multitudes and preach the gospel. The ACA is going to grow, and with each new adherent it will become ever more stable and viable.Meanwhile, the greatest compliment this nation can ever pay to the 44th President of the United States and his legacy will be that, decades from now — when Sasha and Malia are great-grandmothers —America’s national health care plan will continue to thrive and be known by its vernacular title: “Obamacare.”

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Harold Meyerson: How Capitalism Enriches The Few Rather Than The Many

Michael Lewis’s “Flash Boys,” his takedown of high-speed stock trading, may be making headlines this week, but it’s just one of two books on our economic dysfunctions that are flying off the shelves. While “Flash Boys” explains how the fastest-growing form of trading enriches the few at the expense of the many, the other book, Thomas Piketty’s “Capital in the Twenty-First Century,” provides a more fundamental and disquieting explanation: how capitalism itself enriches the few at the expense of the many. Since 1980, however, their fortunes have swelled again — at the expense of everyone else. Ronald Reagan and Margaret Thatcher slashed taxes on wealth, workers lost the ability to bargain for wages and, crucially, the population growth of many nations ground nearly to a halt. Capital, again, was accumulating faster than the overall economies were growing.

In the United States, Piketty shows, the incomes of the top 1 percent have grown so high — chiefly due to the linkage of top executive pay to share value, a form of capital — that they soon will create the greatest level of income inequality in the recorded history of any nation. Indeed, Piketty’s book provides a valuable explanatory context for America’s economic woes. Wages constitute the lowest share of U.S. GDP, and profits the highest, since the end of World War II. And with heightened accumulations of wealth come heightened accumulations of political power — a shift toward plutocracy to which Wednesday’s Supreme Court decision, permitting the wealthy to contribute to as many electoral campaigns as they wish, adds a helpful push.

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L.A. Times: High Deportation Figures Are Misleading

Immigration activists have sharply criticized President Obama for a rising volume of deportations, labeling him the “deporter in chief” and staging large protests that have harmed his standing with some Latinos, a key group of voters for Democrats.
But the portrait of a steadily increasing number of deportations rests on statistics that conceal almost as much as they disclose. A closer examination shows that immigrants living illegally in most of the continental U.S. are less likely to be deported today than before Obama came to office, according to immigration data. Expulsions of people who are settled and working in the United States have fallen steadily since his first year in office, and are down more than 40% since 2009. On the other side of the ledger, the number of people deported at or near the border has gone up — primarily as a result of changing who gets counted in the U.S. Immigration and Customs Enforcement agency’s deportation statistics.

The vast majority of those border crossers would not have been treated as formal deportations under most previous administrations. If all removals were tallied, the total sent back to Mexico each year would have been far higher under those previous administrations than it is now. Until recent years, most people caught illegally crossing the southern border were simply bused back into Mexico in what officials called “voluntary returns,” but which critics derisively termed “catch and release.” Those removals, which during the 1990s reached more 1 million a year, were not counted in Immigration and Customs Enforcement’s deportation statistics. Now, the vast majority of border crossers who are apprehended get fingerprinted and formally deported. The change began during the George W. Bush administration and accelerated under Obama. The policy stemmed in part from a desire to ensure that people who had crossed into the country illegally would have formal charges on their records. In the Obama years, all of the increase in deportations has involved people picked up within 100 miles of the border, most of whom have just recently crossed over. In 2013, almost two-thirds of deportations were in that category.

At the same time, the administration largely ended immigration roundups at workplaces and shifted investigators into targeting business owners who illegally hired foreign workers. “If you are a run-of-the-mill immigrant here illegally, your odds of getting deported are close to zero — it’s just highly unlikely to happen,” John Sandweg, until recently the acting director of Immigration and Customs Enforcement, said in an interview. Even when immigration officials want to deport someone who already has settled in the country, doing so is “virtually impossible” because of a lengthy backlog in the immigration courts, Sandweg said. Once people who have no prior removals or convictions are placed in deportation proceedings, actually removing them from the country can take six years or more in some jurisdictions, Sandweg said.

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Rebecca Berg: With Obamacare Enrollment Milestone Met, Democrats Feel Cautious Enthusiasm

Democrats who have been expecting a tough slog to defend the implementation of Obamacare in this important midterm election year weren’t just pleased this week with news that 7.1 million people had enrolled in health insurance through federal or state exchanges. They were jubilant, and more than a little relieved. “The Affordable Care Act CRUSHED its first major enrollment deadline!” a fundraising email on behalf of the Democratic Congressional Campaign Committee declared Wednesday.

Such caps-lock, exclamatory enthusiasm is reflective of a brightening mood this week among Democrats, who understand that many of their candidates could win or lose this year on the merits of the health care law and its first-year implementation. And for a party that has suffered a long political winter, the creep of cautious optimism is a welcome warming trend.”This is a new political environment where implementation of law is going well. That’s a much better political environment for us,” said Matt Canter, Democratic Senatorial Campaign Committee deputy executive director.

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Andy Kroll: The Supreme Court Just Gutted Another Campaign Finance Law. Here’s What Happened

The Supreme Court on Wednesday released its decision in McCutcheon v. Federal Election Commission, the blockbuster money-in-politics case of the current term. The court’s five conservative justices all agreed that the so-called aggregate limit on the amount of money a donor can give to candidates, political action committees, and political parties is unconstitutional. In a separate opinion, conservative justice Clarence Thomas went even further, calling on the court to overrule Buckley v. Valeo, the 1976 decision that concluded it was constitutional to limit contributions to candidates. In their dissent, the court’s four liberal justices called their colleagues’ logic “faulty” and said it “misconstrues the nature of the competing constitutional interests at stake.” The dissent continues, “Taken together with Citizens United v. Federal Election Commission, today’s decision eviscerates our Nation’s campaign finance laws, leaving a remnant incapable of dealing with the grave problems of democratic legitimacy that those laws were intended to resolve.”

How’d this happen? In the 2012 election cycle, a wealthy Alabama businessman named Shaun McCutcheon tried to make donations in the amount of $1,776 to 27 right-leaning congressional candidates. Not so fast, replied the Federal Election Commission (FEC), the nation’s campaign finance watchdog.After this decision, how much can Shaun McCutcheon give? Hypothetically, a single donor can now contribute as much as $3.5 million, to be divvied up between candidates, PACs, and political parties. No single entity could receive any more than the legal limits, and when you add up all the contributions a donor could potentially make without the aggregate limits, you get $3.5 million. (The overall aggregate limit was raised to $123,200 for the 2014 cycle.)University of California-Irvine law professor Rick Hasen, who did not support McCutcheon’s cause, nonetheless has argued that the decision could reinvigorate the parties and maybe scale back the gridlock crippling Congress. What comes next? Although the court’s majority opinion in McCutcheon, written by Roberts, blew up the FEC’s aggregate limits, it did not take a broader swipe at campaign finance restrictions in general. Court watchers feared a decision in McCutcheon that would open the door to future legal assaults on the bedrock of campaign finance law: direct contribution limits, such as the $2,600 limit to candidates, the $5,000 limit to PACs and party committees, and so on.

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Dylan Scott: How The White House Is Always Outflanking The GOP On Obamacare

House Republicans will vote on Thursday to repeal yet another piece of Obamacare: the provision that sets 30 hours as the threshold for defining full-time employees, raising it to 40 hours. A company’s compliance with the law’s employer mandate depends on its number of full-time employees, so fewer full-time workers would presumably lighten the mandate’s load on businesses. If that seems like small potatoes for the party after its leaders continued to advocate for full repeal this week, here’s why: The Obama administration has outmaneuvered Republicans on Obamacare, and the opposition party doesn’t have many options left in its quest to roll back any part of the law. The administration already made unilateral alterations to unpopular pieces of the law, drawing bewildered reactions even from supporters.

But by making changes itself, the White House hasn’t let the GOP get in on the game, despite the party’s unending stream of anti-Obamacare bills — therefore denying Republicans the opportunity to extract the high-profile pound of flesh from the law that they’ve been seeking for years. On its face, it’s tough to see the policy rationale for this latest attack on the law. House Majority Leader Eric Cantor explained the GOP’s thinking on the chamber floor Wednesday, arguing that Obamacare’s 30-hour rule had encouraged businesses to cut their workers’ hours and that raising the threshold would restore hours and therefore wages. The Congressional Budget Office projected, however, that the proposal would lead to 500,000 more uninsured Americans and raise the federal deficit by nearly $74 billion over the next 10 years.

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Maidan Translations: Widespread Disappointment Grows In Crimea

Earlier this week, two thirds of the peninsula were left without electricity. Who is to blame is still unclear, but the supply of electricity from the mainland has been substantially reduced. Officials warn that soon the separatists will receive significantly higher electricity bills. The promises to pensioners also turned out to be a myth. Their pensions were never doubled, but simply converted into rubles, reports TSN. Pricing chaos. Empty banks and ATMs. Lines for several days at a time. These are the first results of “improvement,” Crimean-style. All the joys of civilization, which were obvious before, do not work. The lights can be turned off at any time. In one’s passport, an address that doesn’t exist. Salary cards are a bare piece of plastic. Lines for pay, are just like in old Soviet films. For Crimeans, these old films have become a reality.

Olga Kunina does not hesitate to call Yevpatoria her home town, even though she had been living in the Ukrainian capital [Kyiv] for ten years now. She also insists that she will speak Ukrainian on camera. “I want to keep my Ukrainian passport, I want to be proud of being a Ukrainian, I don’t want to be forced to become a Russian because of the situation they are trying to put me in,” she says. Olga’s compatriots – ethnic Russians – dreamed of getting rich immediately after the so-called referendum. They wanted to sell out their citizenship for increased pensions. But the only increase has been in their disappointment. “We got exactly the same [pensions – Ed.], only in Russian rubles,” – explain the retirees. And in coins Russia is withdrawing from circulation. The rubles started causing chaos on the markets and in prices.

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Jonathan Weisman: Health Enrollment Numbers Lift Democratic Hopes

After months of pummeling by Republicans and with a grim election season approaching, Democrats on Tuesday had a rare bright day. President Obama’s announcement that the new health care plan had enrolled 7.1 million Americans coincided with the release by Representative Paul D. Ryan of a new Republican budget that proposes changes in Medicare and deep cuts in spending. It’s far too early to say a political turnaround is at hand, but for the first time this election year, Democrats are evincing some confidence that they have at least stanched the bleeding. “It’s changing. If you’ve been around awhile, and I’ve been around awhile, you can sense it,” said Senator Richard J. Durbin of Illinois, the No. 2 Democrat in the Senate. “You’re not going to turn away seven or 10 million people from insurance coverage — doesn’t work anymore. And then comes Ryan. Thank you, thank you Congressman Paul Ryan, for reminding us what Republicans would do if they had control.”

On the plus side, the president’s announcement that 7.1 million Americans had signed up for private health policies through the law’s exchange is likely to prove understated. Once totals are tabulated to include new Medicaid enrollees, people who signed up for new federally protected policies through private insurance brokers, and young adults who have stayed on their parents’ policies because of the law, the figure is likely to be at least double that. Moreover, the Ryan budget, which was approved by the House Budget Committee on Wednesday night along party lines, will present the Democrats a chance to expand the political conversation. It cuts Medicaid by $1.5 trillion over 10 years, food stamps by $125 billion, education programs by $145 billion — including Pell grants — and makes university students begin paying interest on student loans while still in college.

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Jonathan Chait: Charles Koch Explains Why He Is So Crazy

The Wall Street Journal’s editorial page owns the deluded self-pitying billionaire screed genre, and today, it brings us Charles Koch. From the outside, Koch would appear to have it pretty good. He owns a vast fortune inherited in substantial part from his father. He commands enormous political influence, with hundreds of politicians and other political elites at his beck and call. But Koch’s view of himself is as a kind of ragtag freedom fighter hunted nearly to extinction. Here is Koch attempting to explain the major source of his grievance: Instead of encouraging free and open debate, collectivists strive to discredit and intimidate opponents. They engage in character assassination. (I should know, as the almost daily target of their attacks.)

This is the approach that Arthur Schopenhauer described in the 19th century, that Saul Alinky famously advocated in the 20th, and that so many despots have infamously practiced. Such tactics are the antithesis of what is required for a free society—and a telltale sign that the collectivists do not have good answers. So the trouble is that his critics attempt to “discredit” and “intimidate” him and employ “character assassination.” All these terms appear to be Koch synonyms for “saying things about Charles Koch that Charles Koch does not agree with.” In the kind of “free and open” debate he imagines, Koch would continue to use his fortune to wield massive political influence, and nobody would ever say anything about him that makes him unhappy.

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NYT: To Ponder: More Food Is Sourced At Home By Gardeners

The number of American households in which residents are growing their own food — either in home or community gardens — has increased 17 percent over the last five years, to 43 million, or one in three households according to a report to be released Wednesday from the National Gardening Association. While gardening was not so long ago associated with retirees in silly pants, the trend is now driven by Americans from ages 18 to 34 who are tending gardens of all sizes.

The association, which has published annual statistics on food gardening in America since 1978, cited a home gardening campaign by Michelle Obama as one of the factors in the rise. “Six years ago, we planted the White House Kitchen Garden on the South Lawn to inspire a national conversation about food and nutrition,” Mrs. Obama said by email, “and as healthy habits are becoming the new norm in America, I hope that interest in gardening and healthy eating continues to grow.”

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On This Day:

President Obama and First Lady Michelle Obama join staff aboard Air Force One during their flight April 3, 2009, from Stansted Airport in Essex, England, en route to Strasbourg, France (Photo by Pete Souza)

President Obama meets with U.S. Secretary of State Hillary Rodham Clinton aboard Air Force One during flight from Stansted Airport in Essex, England to France, April 3, 2009 (Photo by Pete Souza)

President Obama walks with French President Nicolas Sarkozy from the Palais Rohan (Palace Rohan) April 3, 2009, following their meeting in Strasbourg, France (Photo by Pete Souza)

President Obama, joined by French President Nicolas Sarkozy, receives an enthusiastic welcome April 3, 2009, to Palais Rohan (Palace Rohan) in Strasbourg, France (Photo by Pete Souza)

First Lady Michelle Obama meets with Carla Bruni-Sarkozy, wife of French President Sarkozy at the Palais Rohan (Rohan Palace) April 3, 2009, in Strasbourg, France (Photo by Chuck Kennedy)

President Obama reviews his speech to the Turkish parliament with speechwriter Ben Rhodes while eating lunch April 3, 2009, in Strasbourg, France (Photo/Pete Souza)



catching up

Greatest ad ever?

Steve Benen last August: “‘Corporations are people’? In this little figure of speech, wouldn’t that make Mitt Romney a metaphorical serial killer?”….. 😉


Thanks saintroscoe


Michael Tomasky (The Daily Beast): Why Mitt Romney Will Prove To Be a Feeble Presidential Nominee …. I wrote about his reactionary tax plan and his refusal to release his own taxes, and what an unfortunate (for him) cocktail those two ingredients will make for him …. Now, the Bain attacks put into sharp relief another reason for his weakness. He has just one argument, and the Bain “creative destruction” narrative comes close to killing it.

…. Toss in that ghastly remark about it being all right to discuss inequality in “quiet rooms,” which I feel certain we haven’t heard nearly the last of …. He meant corporate board rooms, where everyone would agree with him. An astonishingly frank moment, like the comment about liking to be able to fire people. I know he was talking about insurance companies, but here in the 99 percent, we don’t “fire” insurance companies, or usually doctors and certain other service professionals. We change them. It was a word choice that really did reveal a world view.

….Oh, he’ll get 47, 48 percent of the vote, because we’re a divided country …. but a majority will not want to change horses, especially when the other horse is carrying Romney’s kind of personal baggage and is promising policies that are warmed over versions of the policies that created the economic crisis in the first place. I have no great confidence in the brilliance of Obama’s political team, but this should not be too hard, even for them, and Mitt can find himself a nice quiet room in La Jolla to go ponder the what-if’s.

Full post here


This Is Our Time




The UK Independent: As we’re sitting down to lunch at a restaurant in Washington DC, a smartly dressed man approaches Candace Gingrich-Jones. “I just wanted to say hello,” he announces, cheerfully, “because I know your brother.”

Ms Gingrich-Jones has two stock responses to people who greet her in this fashion. The first, to those who seem friendly, is to politely say how nice it is to make their acquaintance. The second, to anyone who claims to be among her famous half-sibling’s enemies, is to smile archly and respond: “You are not alone!”

…. Regardless of whether Newt Gingrich ends up as the GOP contender in November’s election, Ms Gingrich-Jones will be working tirelessly to ensure victory for his opponent, Barack Obama.

“No matter who the Republican candidate is, I will do everything I possibly can to ensure they don’t win,” she says. “President Obama has done so much for the gay community. From repealing ‘Don’t ask, don’t tell’, to getting a hate-crime prevention act passed in 2008, to anti-discrimination policies in the workplace, to laws giving gay couples hospital visitation rights. It would be a disaster if he were to lose.”

Full article here


‘one should examine oneself … before thinking of condemning others’

There was a time I would have been more than happy to have babies with Michael Moore, I loved the fella. Then I read ‘Stupid White Men’ and my jaw fell to earth when I reached the chapter on Ireland – he was so embarrassingly clueless about the political situation in the country he had, for me, all the credibility of Fox ‘News’.

Then I learnt that he isn’t just clueless at times, he can also be a spectacular hypocrite.

Remember his impassioned support for union rights in Wisconsin and his criticism of President Obama for not being more vocal at the time?

ABC: Michael Moore used some non-union crew members when union workers were available in the production of his latest film “Capitalism: A Love Story,” a documentary that argues the capitalist system allows for greedy corporations to exploit working-class people.

…In a statement issued to, Moore’s agent, Ari Emanuel, said the filmmaker wished the union included more documentary crew people – but he did not deny that IATSE members were snubbed in favor of non-union employees.

…An internal AFT memo, obtained by, added that the non-union workers hired for the film did not receive health insurance.

The organized labor source said Moore and IATSE were in talks about Moore’s decision, but did not know why Moore had used union labor for some jobs and non-union employees for other jobs for which he could have employed union workers.


And now, on the issue of Libya, Moore is calling the President a hypocrite. Well, in fairness to Mike, he’s an expert on hypocrisy.









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