Update from the Heartland
No.370
12.1.09 – 18.1.09
Blog version: http://heartlandupdate.blogspot.com/
No.370
12.1.09 – 18.1.09
Blog version: http://heartlandupdate.blogspot.com/
To all,
On Tuesday, my sister’s youngest child was killed in a motorcycle accident. David was 29 years old and unmarried. Tragically, David became the first of our children’s generation to pass on. May God rest David’s immortal soul, and protect my sister and her family in their grief. In a personal message to family and friends, she wrote:
“my mother shared with us
the comfort of the umbrella of ‘grace’
that comes with being present and
intentional staying in this moment
we are calm and riding the waves that come
in their own due time”
For those who may be so inclined to offer donations or remembrances, she asks they go to:
Children's Hospital - Burn Unit - in Oakland, California.
The follow-up news items:
-- At 02:00, Sunday (18:00 CST, Saturday), Israel declared a unilateral ceasefire in the Gaza campaign [368]. Twelve hours later, Hamas and other Palestinian militant groups announced a week-long ceasefire and gave Israel a week to remove their troops from Gaza. We can hope that at least a respite comes to that troubled region. Anyone want to take a bet Hamas cannot resist lobbing a rocket or two during the week?
-- Susan J. Crawford, the convening authority for the Guantanamo military commissions, declared, “We tortured [Mohammed Mani Ahmad al-]Qahtani” – allegedly an al-Qaeda operative and one of the missing 9/11 conspirators – apparently because we interrogated him with techniques [126, et al] that included sustained isolation, sleep deprivation, nudity and prolonged exposure to cold. There is no question whatsoever that such conduct with a police prisoner is beyond the law, but al-Qahtani was never a police prisoner. He is a battlefield combatant in the War on Islamic Fascism and must be subject to harsh interrogation techniques for combat intelligence purposes. Perhaps this particular debate is moot, as our savior shall render his edict soon.
-- Before I could even get this Update on the wire, Hamas fired off a few rockets into Southern Israel. They want blood; they shall have blood as it has been for decades.
On Thursday, USAirways Flight 1549 took off normally, although slightly late, from New York LaGuardia Airport enroute to Charlotte, North Carolina, on a clear but cold winter day. During climb out, at approximately 3,000 feet altitude above ground level, they apparently encountered a flock of large birds, which took out both of the Airbus A-320’s engines. Captain Chesley Burnett ‘Sully’ Sullenberger, 57, of Danville, California, and First Officer Jeffrey Skiles, 49, of Oregon, Wisconsin, made all the right decisions, in a comparatively short amount of time, and landed the cripple aircraft in a picture-perfect ditching in the Hudson River. One of the engines was missing from the aircraft; they are designed to shear off on impact like a water ditching; I am not sure why the right side engine did not depart as well. The aircraft has been recovered. The Flight Data Recorder and Cockpit Voice Recorder have been recovered and transported to the NTSB laboratory in Washington. Congratulations to the crew. ‘Sully’ Sullenberger will join Al Haynes on a rather small list of magnificent pilotage in extremis.
President George Walker Bush gave his last press conference on Monday. I was at work and did not see the event live. Jeanne recorded it for me, and I have listened to the aftermath of talking heads. There was sadness in his use of language to convey his thoughts and reminders of why I am glad to see him go. His rather lame effort, attempting to re-direct history’s judgment of his administration, had a mostly pathetic air to it, left me shaking my head and feeling a bit exhausted. Yet, we also saw flashes of why George’s administration was able to fulfill its primary constitutional responsibility. While there were failures in the prosecution of the war that cost lives and there were failures in the Katrina response, W has been erroneously maligned by partisan politics and the stink stuck. On Thursday, President Bush gave his farewell address to the Nation – the best speech in his political career. Things might have been quite different if he had good communications skills. C’est la vie. We move on.
The recession and stress of the economic crisis have impacted the aviation industry in extraordinary, if not unprecedented ways; but, that was not enough. Congress had to publicly ridicule the auto CEO’s for using their corporate jets for travel to testify. Congress also seeks to amend the Emergency Economic Stabilization Act of 2008 [PL 110-343] [355] to force any company who receives TARP funds to divest themselves of all corporate aircraft. The message to corporate America, and especially those industries who sought, might seek, or even might benefit from Federal financial assistance during the mortgage / credit crisis and recession, is that corporate aircraft are not acceptable or consistent with public assistance. The message, intended or not, ignores the enormous leverage corporate aircraft provide for companies operating at regional, national and international levels. Then, we have the TSA’s Notice of Proposed RuleMaking (NPRM) under Regulatory Identification Number (RIN) 1652-AA53 [Docket No. TSA-2008-0021] {49 CFR Parts 1515 et al}, called the Large Aircraft Security Program (LASP) that will require operators of all aircraft over 12,500 lbs (Part 25 & 29) regardless of how they are operated (Parts 91, 125, & 135) to implement security screening procedures similar to those that have been in place since the Aviation and Transportation Security Act [19.11.01; PL 107-71] and the Homeland Security Act [25.11.02; PL 107-296]. LASP may not sound very important to most folks, as few of us will ever fly on a medium or larger, private jet, but LASP will be a killer for the general and corporate aviation industry because it eliminates one of the principal benefits of private aircraft. There are significant differences between Part 121 commercial flights and Part 135 charter flights, not least of which is the passengers using the former means are largely unknown to operators, while those using the latter are well-known. The industry has taken extraordinary action to stop the implementation of LASP. We need all the help we can get. Please write your senators and representative and ask them to reject the corporate aviation provision of the TARP amendment and join their colleagues against LASP.
An interesting extradition case points out numerous interesting characteristics of our society. The liberal faction of the Press, intelligentsia, and bloggers present her as a loving mother of three, and the innocent victim of government callousness. The conservative element notes her status as deserter. Specialist Kimberly Rivera, USAR, is the first of an estimated 200 deserters to be deported from Canada. She faces general court martial at Fort Carson, Colorado. I expect her pay the price for her mistake.
News from the economic front:
[NOTE: Some may wonder why I take the time to chronicle events in the unfolding recession? The simple answer . . . history. I have experienced numerous recessions in my life time. This edition has a strange and unique feel to it, and as such, I suspect this one will be historic in more ways than one. So, I note events for the record.]
-- Federal Reserve Chairman Bernanke pronounced President-Elect Obama’s American Recovery and Reinvestment Plan [368] could provide a “significant boost” to our struggling, recession economy, but not without other steps to stabilize financial institutions.
-- In an extraordinary and highly unusual move, Pfizer – the pharmaceutical giant – announced their intention to lay off 800 scientists from their research laboratories, which may well reflect a loss of confidence in the unit that defines the company’s future – a strange choice in troubled times.
-- Deutsche Bank announced it expects to post a 4th Quarter loss of about €4.8B (US$6.3B), citing “exceptional market conditions” – indeed!
-- According to the Commerce Department, retail sales contracted more than expected or projected in December (-2.7%) – an incredible drop in one month and even more dramatic because it was the peak of the holiday spending season.
-- Nortel Networks – the Canadian telecom-equipment company – filed for Chapter 11 protection in Delaware bankruptcy court. The company has been cutting costs and trying to sell assets as it struggled to survive the recession and adjust to the precipitous drop in demand for its voice-only wireless equipment.
-- The Federal Reserve’s Beige Book of economic activity shows a wide range of declining parameters that suggest the recession will last well into 2009 – not great news, but the truth is important to all of us.
-- The USG is nearing commitment of additional billions of Treasury funds for Bank of America as the large financial institution continues to grapple with the acquisition of Merrill Lynch [353]. I sure hope this works out to the benefit of We, the People, rather than inflating the personal assets of bankers.
-- J.P. Morgan Chase posted annual net income of US$0.7M, or seven cents a share, compared with net income of US$2,970M, or 86 cents a share, a year earlier, despite a US$2.4B net loss at its investment banking business. Revenue rose 4.6% to US$19.11B from $18.28B.
-- The European Central Bank reduced its benchmark rate by half a percentage point to 2.0%, reflecting continued economic weakening in Europe.
-- Citigroup reported 4th Quarter revenue of US$5.6B (down 16%) along with a net loss of US$8.3B, which includes US$6.1B in net credit losses and a US$6B net loan loss reserve build.
[NOTE: I sure hope some independent source is seriously auditing all these reported bank losses, and they are not just anticipated losses that can be transformed into pure income at some future date that may not be noticed by those of us fronting the banks all this money.]
-- The U.S. Labor Department reported that consumer prices rose last year by their slowest pace in over a half century. Much of the reversal was due to a roughly 75% decline in oil prices from their July peak. The core CPI, which excludes food and energy, was unchanged, suggesting we have not yet faced economy-wide deflation.
-- Circuit City Stores Inc. – the 2nd largest consumer electronics retailer in the U.S. – agreed Friday to the liquidation of its assets after failing to find a buyer or lender. Unfortunately, this will not be the only corporate death to which we shall bear witness . . . kinda like watching a hapless wildebeest succumb to a lion or crocodile. C’est la vie!
-- Officials at the Treasury, Federal Reserve and Federal Deposit Insurance Corp., in consultation with their Obama administration counterparts, are discussing a range of options in the continuing effort to stimulate the economy. The process is part of the transition as the new folks will be the ones taking action. We shall see.
L’Affaire Madoff [365]:
-- United States Magistrate Judge Ronald L. Ellis issued his ruling on bail revocation [369] in the case of United States v. Madoff [USDC SD NY 08 Mag. 2735 (2009)]. While Judge Ellis found insufficient evidence for the Government to satisfy its burden of proof as to Madoff’s flight risk or danger to the community, he avoided the obstruction of justice aspect, to a degree. Madoff’s conduct was consistent with his lack of any conscience or respect for those he may have injured. Despite the grievous crimes he is accused of committing, he is presumed innocent under the law and entitled to his day in court. Yet, his conduct under house arrest and bail further indicates his guilt. I trust the U.S. Attorney will present sufficient evidence to convict him and sentence him to a very long time in prison. We wait his judgment day.
-- Assistant United States Attorney Marc O. Litt immediately appealed Judge Ellis’ decision to Senior District Judge Lawrence M. McKenna, United States District Court for the Southern District of New York, who in turn affirmed Judge Ellis’s ruling. I must acknowledge the correctness of the law; yet, the thought of Madoff confined in the luxury of the $7M apartment in the light of the gargantuan destruction he has wrought upon innocent investors as well as the collateral damage to the financial system is infuriating and offensive. At his age, he may not make it to prison, but I sure hope so.
The Blago Scandal [365]:
-- On Friday, Roland Burris was sworn in as junior senator from Illinois. I truly hope he is able to rise above the stench that surrounded his appointment to the Senate. Blago out-snookered the vaunted Senate. Chalk one up for Blago.
Comments and contributions from Update no.369:
“Your exchange with the supporter of Hamas/Hezbollah is revealing. Whereas you are objective, your opponent is emotional with little regard for the facts. There is little any of us can say to alter an emotional view this strong, but we will keep trying. It is exactly the type of view that fuels Hamas and Hezbollah. At least this position is up front and clear, unlike the worst type of anti-Semite - the insidious kind where being subtle and crafty can be treacherous for all Jews and supporters of Israel. Israel will eventually defeat the up-front emotional haters of Jews. The insidious ones are more dangerous. Let us hope that crowd fails.
“Here is a representative view from the NYTimes yesterday (Sunday) revealing that President-elect Obama is aware of the facts and will continue to support Israel. Let us hope the non-emotional opposition gets it and forces Hamas/Hezbollah to lay down their arms and help build their own state in peace, not destroy it. If not, they face certain death.”
“Continuity We Can Believe In”
by William Kristol
New York Times
Published: January 12, 2009
http://www.nytimes.com/2009/01/12/opinion/12kristol.html
My response:
I am not so definitive in the author’s perceived ‘support’ for Hamas. We can glean that from the choice of words, but I think the author’s principle objection is what seems to be blind support for Israel. The author has valid points to which I argued.
. . . a follow-up:
“Understood and appreciate your evenhanded approach to it. My read of the Hamas/Hezbollah supporter is less lenient than yours. That opinion reeks of anti-Semitism where one remains dogmatic regardless of the facts. It goes beyond opinion. Emotional hatred of Jews drives it and history is replete with this hate and its consequences. Israel defends safety, freedom, and survival for all of us. May they win the fight because if they lose, we lose.
“Keep up the good fight Marine.”
. . . to which I responded:
I am far more interested in having the debate than I am in winning the argument. I try to treat everyone with respect, not just those with whom I agree. I want people to express their opinions without fear of retribution. While I would like broader participation / contribution to this humble forum, the opinions I do receive certainly keep me motivated to continue . . . so I press on.
. . . and a closing comment:
“As the HMFIC of this blog, you must spawn the debate in all of us. I have the luxury of being able to polarize my position at will.
“Great job and this is the only blog I participate in.”
Another contribution:
“I believe I wrote many months ago, this was a religious war, and reason and common sense are not included in religious beliefs.
“I was wrong when I didn’t realize that the hatred of Jews was to be included in the sidebars to the war against Muslim terrorists.
“HOLD FAST!”
My reply:
I was simply reflecting the public rhetoric of Islamist leaders and clerics, and the written words. “Hatred of Jews” is not a reason for war. Hatred is an emotion – an internal thought. Yet, such public, angry, demonstrative, anti-Semitism is most certainly a clue to raise suspicion and awareness. When placed on the page with other dots, such rhetoric helps to clarify the image that emerges.
Religion, or rather rabid, intolerant, offensive religion, is a prime factor in the present war. Our enemy undoubtedly sees their endeavors as a religious war. Yet, we cannot allow the War on Islamic Fascism to be cast as a religious war, meaning our religion against their religion. This is a war to defeat those who use violence to impose their beliefs on others. Fundamentalist Islamic clerics created and ignited this war, and we must defeat their methods, not their religion.
. . . with this follow-up comment:
“I intended to support your comments. My comments were directed at those respondents who find no sympathy for the Jews or Israel and try to justify it by tying it to something that they ascribe to the Jews as ‘unwarranted’ or ‘over-reaction.’
“When I read the responses written to you, I see a religious fervor to their comments as if they could only get you to ‘really believe’ you would see the errors of your ways. It is not our religion against their religion, it is the defense of a position based on ‘beliefs’ rather than on any fact or rationale: the more facts or reason you put forth, the more resistant they become. The next step for them is ‘fanatic.’
“I see the same type of fanaticism when some people deal with a Bush, any one of the three, or six, if you include some of the very hateful things the fanatics have against Barbara or Laura. IMHO.”
A different contribution:
“If one thing infuriates me about the Israeli/Hamas conflict, it's the media's harping on how many Palestinian children are killed during IAF/IDF attacks. Yes, it is tragic and sad, but maybe they should focus on how Hamas keeps setting up it's facilities where there's a whole bunch of innocent people. Lay some blame on them.
“I'm with you regarding Israel's justification in attacking Hamas. I think Jews know full well what can happen when whackjobs start talking about exterminating them. And where is it written that blowing up night clubs and bus stops is the only way for Hamas to resolve this conflict? Look what Ghandi and MLK did by preaching peace.”
One more contribution:
“Good morning to the Great Plains,
“Everything is running slowly over here [UK]! Business especially. Our main street (high street in Anglo Saxon) is becoming a graveyard of failed businesses and boarded up premises. The bookies (betting shops) are doing well as are pawn brokers. The loss of FW Woolworths, an institution on British high streets since 1911, is a tremendous loss to the economy, not only those who shopped there, didn't we all at some time or other, but to the staff and the local economy that benefited from the their very presence. And we're told we're not in the eye of the storm yet.
“We've had the coldest start to winter for 30 years, this has added strain to personal economies, especially the old and infirm. Our government most definitely bothers us, borrowing money in a cash strapped economy to 'buy' the country out of crisis. Dangerous ground to tread. The calculation is that every new child born will inherit a bill of £17,000. Our neighbours are on short time, long faces are everywhere. There is the odd oasis of money though, recently in London I was amazed at the number of punters in the bars even on the streets drinking after work. But then we do have a drink culture here, with some that might be the very last item to be subjected to moratorium.”
On Tuesday, my sister’s youngest child was killed in a motorcycle accident. David was 29 years old and unmarried. Tragically, David became the first of our children’s generation to pass on. May God rest David’s immortal soul, and protect my sister and her family in their grief. In a personal message to family and friends, she wrote:
“my mother shared with us
the comfort of the umbrella of ‘grace’
that comes with being present and
intentional staying in this moment
we are calm and riding the waves that come
in their own due time”
For those who may be so inclined to offer donations or remembrances, she asks they go to:
Children's Hospital - Burn Unit - in Oakland, California.
The follow-up news items:
-- At 02:00, Sunday (18:00 CST, Saturday), Israel declared a unilateral ceasefire in the Gaza campaign [368]. Twelve hours later, Hamas and other Palestinian militant groups announced a week-long ceasefire and gave Israel a week to remove their troops from Gaza. We can hope that at least a respite comes to that troubled region. Anyone want to take a bet Hamas cannot resist lobbing a rocket or two during the week?
-- Susan J. Crawford, the convening authority for the Guantanamo military commissions, declared, “We tortured [Mohammed Mani Ahmad al-]Qahtani” – allegedly an al-Qaeda operative and one of the missing 9/11 conspirators – apparently because we interrogated him with techniques [126, et al] that included sustained isolation, sleep deprivation, nudity and prolonged exposure to cold. There is no question whatsoever that such conduct with a police prisoner is beyond the law, but al-Qahtani was never a police prisoner. He is a battlefield combatant in the War on Islamic Fascism and must be subject to harsh interrogation techniques for combat intelligence purposes. Perhaps this particular debate is moot, as our savior shall render his edict soon.
-- Before I could even get this Update on the wire, Hamas fired off a few rockets into Southern Israel. They want blood; they shall have blood as it has been for decades.
On Thursday, USAirways Flight 1549 took off normally, although slightly late, from New York LaGuardia Airport enroute to Charlotte, North Carolina, on a clear but cold winter day. During climb out, at approximately 3,000 feet altitude above ground level, they apparently encountered a flock of large birds, which took out both of the Airbus A-320’s engines. Captain Chesley Burnett ‘Sully’ Sullenberger, 57, of Danville, California, and First Officer Jeffrey Skiles, 49, of Oregon, Wisconsin, made all the right decisions, in a comparatively short amount of time, and landed the cripple aircraft in a picture-perfect ditching in the Hudson River. One of the engines was missing from the aircraft; they are designed to shear off on impact like a water ditching; I am not sure why the right side engine did not depart as well. The aircraft has been recovered. The Flight Data Recorder and Cockpit Voice Recorder have been recovered and transported to the NTSB laboratory in Washington. Congratulations to the crew. ‘Sully’ Sullenberger will join Al Haynes on a rather small list of magnificent pilotage in extremis.
President George Walker Bush gave his last press conference on Monday. I was at work and did not see the event live. Jeanne recorded it for me, and I have listened to the aftermath of talking heads. There was sadness in his use of language to convey his thoughts and reminders of why I am glad to see him go. His rather lame effort, attempting to re-direct history’s judgment of his administration, had a mostly pathetic air to it, left me shaking my head and feeling a bit exhausted. Yet, we also saw flashes of why George’s administration was able to fulfill its primary constitutional responsibility. While there were failures in the prosecution of the war that cost lives and there were failures in the Katrina response, W has been erroneously maligned by partisan politics and the stink stuck. On Thursday, President Bush gave his farewell address to the Nation – the best speech in his political career. Things might have been quite different if he had good communications skills. C’est la vie. We move on.
The recession and stress of the economic crisis have impacted the aviation industry in extraordinary, if not unprecedented ways; but, that was not enough. Congress had to publicly ridicule the auto CEO’s for using their corporate jets for travel to testify. Congress also seeks to amend the Emergency Economic Stabilization Act of 2008 [PL 110-343] [355] to force any company who receives TARP funds to divest themselves of all corporate aircraft. The message to corporate America, and especially those industries who sought, might seek, or even might benefit from Federal financial assistance during the mortgage / credit crisis and recession, is that corporate aircraft are not acceptable or consistent with public assistance. The message, intended or not, ignores the enormous leverage corporate aircraft provide for companies operating at regional, national and international levels. Then, we have the TSA’s Notice of Proposed RuleMaking (NPRM) under Regulatory Identification Number (RIN) 1652-AA53 [Docket No. TSA-2008-0021] {49 CFR Parts 1515 et al}, called the Large Aircraft Security Program (LASP) that will require operators of all aircraft over 12,500 lbs (Part 25 & 29) regardless of how they are operated (Parts 91, 125, & 135) to implement security screening procedures similar to those that have been in place since the Aviation and Transportation Security Act [19.11.01; PL 107-71] and the Homeland Security Act [25.11.02; PL 107-296]. LASP may not sound very important to most folks, as few of us will ever fly on a medium or larger, private jet, but LASP will be a killer for the general and corporate aviation industry because it eliminates one of the principal benefits of private aircraft. There are significant differences between Part 121 commercial flights and Part 135 charter flights, not least of which is the passengers using the former means are largely unknown to operators, while those using the latter are well-known. The industry has taken extraordinary action to stop the implementation of LASP. We need all the help we can get. Please write your senators and representative and ask them to reject the corporate aviation provision of the TARP amendment and join their colleagues against LASP.
An interesting extradition case points out numerous interesting characteristics of our society. The liberal faction of the Press, intelligentsia, and bloggers present her as a loving mother of three, and the innocent victim of government callousness. The conservative element notes her status as deserter. Specialist Kimberly Rivera, USAR, is the first of an estimated 200 deserters to be deported from Canada. She faces general court martial at Fort Carson, Colorado. I expect her pay the price for her mistake.
News from the economic front:
[NOTE: Some may wonder why I take the time to chronicle events in the unfolding recession? The simple answer . . . history. I have experienced numerous recessions in my life time. This edition has a strange and unique feel to it, and as such, I suspect this one will be historic in more ways than one. So, I note events for the record.]
-- Federal Reserve Chairman Bernanke pronounced President-Elect Obama’s American Recovery and Reinvestment Plan [368] could provide a “significant boost” to our struggling, recession economy, but not without other steps to stabilize financial institutions.
-- In an extraordinary and highly unusual move, Pfizer – the pharmaceutical giant – announced their intention to lay off 800 scientists from their research laboratories, which may well reflect a loss of confidence in the unit that defines the company’s future – a strange choice in troubled times.
-- Deutsche Bank announced it expects to post a 4th Quarter loss of about €4.8B (US$6.3B), citing “exceptional market conditions” – indeed!
-- According to the Commerce Department, retail sales contracted more than expected or projected in December (-2.7%) – an incredible drop in one month and even more dramatic because it was the peak of the holiday spending season.
-- Nortel Networks – the Canadian telecom-equipment company – filed for Chapter 11 protection in Delaware bankruptcy court. The company has been cutting costs and trying to sell assets as it struggled to survive the recession and adjust to the precipitous drop in demand for its voice-only wireless equipment.
-- The Federal Reserve’s Beige Book of economic activity shows a wide range of declining parameters that suggest the recession will last well into 2009 – not great news, but the truth is important to all of us.
-- The USG is nearing commitment of additional billions of Treasury funds for Bank of America as the large financial institution continues to grapple with the acquisition of Merrill Lynch [353]. I sure hope this works out to the benefit of We, the People, rather than inflating the personal assets of bankers.
-- J.P. Morgan Chase posted annual net income of US$0.7M, or seven cents a share, compared with net income of US$2,970M, or 86 cents a share, a year earlier, despite a US$2.4B net loss at its investment banking business. Revenue rose 4.6% to US$19.11B from $18.28B.
-- The European Central Bank reduced its benchmark rate by half a percentage point to 2.0%, reflecting continued economic weakening in Europe.
-- Citigroup reported 4th Quarter revenue of US$5.6B (down 16%) along with a net loss of US$8.3B, which includes US$6.1B in net credit losses and a US$6B net loan loss reserve build.
[NOTE: I sure hope some independent source is seriously auditing all these reported bank losses, and they are not just anticipated losses that can be transformed into pure income at some future date that may not be noticed by those of us fronting the banks all this money.]
-- The U.S. Labor Department reported that consumer prices rose last year by their slowest pace in over a half century. Much of the reversal was due to a roughly 75% decline in oil prices from their July peak. The core CPI, which excludes food and energy, was unchanged, suggesting we have not yet faced economy-wide deflation.
-- Circuit City Stores Inc. – the 2nd largest consumer electronics retailer in the U.S. – agreed Friday to the liquidation of its assets after failing to find a buyer or lender. Unfortunately, this will not be the only corporate death to which we shall bear witness . . . kinda like watching a hapless wildebeest succumb to a lion or crocodile. C’est la vie!
-- Officials at the Treasury, Federal Reserve and Federal Deposit Insurance Corp., in consultation with their Obama administration counterparts, are discussing a range of options in the continuing effort to stimulate the economy. The process is part of the transition as the new folks will be the ones taking action. We shall see.
L’Affaire Madoff [365]:
-- United States Magistrate Judge Ronald L. Ellis issued his ruling on bail revocation [369] in the case of United States v. Madoff [USDC SD NY 08 Mag. 2735 (2009)]. While Judge Ellis found insufficient evidence for the Government to satisfy its burden of proof as to Madoff’s flight risk or danger to the community, he avoided the obstruction of justice aspect, to a degree. Madoff’s conduct was consistent with his lack of any conscience or respect for those he may have injured. Despite the grievous crimes he is accused of committing, he is presumed innocent under the law and entitled to his day in court. Yet, his conduct under house arrest and bail further indicates his guilt. I trust the U.S. Attorney will present sufficient evidence to convict him and sentence him to a very long time in prison. We wait his judgment day.
-- Assistant United States Attorney Marc O. Litt immediately appealed Judge Ellis’ decision to Senior District Judge Lawrence M. McKenna, United States District Court for the Southern District of New York, who in turn affirmed Judge Ellis’s ruling. I must acknowledge the correctness of the law; yet, the thought of Madoff confined in the luxury of the $7M apartment in the light of the gargantuan destruction he has wrought upon innocent investors as well as the collateral damage to the financial system is infuriating and offensive. At his age, he may not make it to prison, but I sure hope so.
The Blago Scandal [365]:
-- On Friday, Roland Burris was sworn in as junior senator from Illinois. I truly hope he is able to rise above the stench that surrounded his appointment to the Senate. Blago out-snookered the vaunted Senate. Chalk one up for Blago.
Comments and contributions from Update no.369:
“Your exchange with the supporter of Hamas/Hezbollah is revealing. Whereas you are objective, your opponent is emotional with little regard for the facts. There is little any of us can say to alter an emotional view this strong, but we will keep trying. It is exactly the type of view that fuels Hamas and Hezbollah. At least this position is up front and clear, unlike the worst type of anti-Semite - the insidious kind where being subtle and crafty can be treacherous for all Jews and supporters of Israel. Israel will eventually defeat the up-front emotional haters of Jews. The insidious ones are more dangerous. Let us hope that crowd fails.
“Here is a representative view from the NYTimes yesterday (Sunday) revealing that President-elect Obama is aware of the facts and will continue to support Israel. Let us hope the non-emotional opposition gets it and forces Hamas/Hezbollah to lay down their arms and help build their own state in peace, not destroy it. If not, they face certain death.”
“Continuity We Can Believe In”
by William Kristol
New York Times
Published: January 12, 2009
http://www.nytimes.com/2009/01/12/opinion/12kristol.html
My response:
I am not so definitive in the author’s perceived ‘support’ for Hamas. We can glean that from the choice of words, but I think the author’s principle objection is what seems to be blind support for Israel. The author has valid points to which I argued.
. . . a follow-up:
“Understood and appreciate your evenhanded approach to it. My read of the Hamas/Hezbollah supporter is less lenient than yours. That opinion reeks of anti-Semitism where one remains dogmatic regardless of the facts. It goes beyond opinion. Emotional hatred of Jews drives it and history is replete with this hate and its consequences. Israel defends safety, freedom, and survival for all of us. May they win the fight because if they lose, we lose.
“Keep up the good fight Marine.”
. . . to which I responded:
I am far more interested in having the debate than I am in winning the argument. I try to treat everyone with respect, not just those with whom I agree. I want people to express their opinions without fear of retribution. While I would like broader participation / contribution to this humble forum, the opinions I do receive certainly keep me motivated to continue . . . so I press on.
. . . and a closing comment:
“As the HMFIC of this blog, you must spawn the debate in all of us. I have the luxury of being able to polarize my position at will.
“Great job and this is the only blog I participate in.”
Another contribution:
“I believe I wrote many months ago, this was a religious war, and reason and common sense are not included in religious beliefs.
“I was wrong when I didn’t realize that the hatred of Jews was to be included in the sidebars to the war against Muslim terrorists.
“HOLD FAST!”
My reply:
I was simply reflecting the public rhetoric of Islamist leaders and clerics, and the written words. “Hatred of Jews” is not a reason for war. Hatred is an emotion – an internal thought. Yet, such public, angry, demonstrative, anti-Semitism is most certainly a clue to raise suspicion and awareness. When placed on the page with other dots, such rhetoric helps to clarify the image that emerges.
Religion, or rather rabid, intolerant, offensive religion, is a prime factor in the present war. Our enemy undoubtedly sees their endeavors as a religious war. Yet, we cannot allow the War on Islamic Fascism to be cast as a religious war, meaning our religion against their religion. This is a war to defeat those who use violence to impose their beliefs on others. Fundamentalist Islamic clerics created and ignited this war, and we must defeat their methods, not their religion.
. . . with this follow-up comment:
“I intended to support your comments. My comments were directed at those respondents who find no sympathy for the Jews or Israel and try to justify it by tying it to something that they ascribe to the Jews as ‘unwarranted’ or ‘over-reaction.’
“When I read the responses written to you, I see a religious fervor to their comments as if they could only get you to ‘really believe’ you would see the errors of your ways. It is not our religion against their religion, it is the defense of a position based on ‘beliefs’ rather than on any fact or rationale: the more facts or reason you put forth, the more resistant they become. The next step for them is ‘fanatic.’
“I see the same type of fanaticism when some people deal with a Bush, any one of the three, or six, if you include some of the very hateful things the fanatics have against Barbara or Laura. IMHO.”
A different contribution:
“If one thing infuriates me about the Israeli/Hamas conflict, it's the media's harping on how many Palestinian children are killed during IAF/IDF attacks. Yes, it is tragic and sad, but maybe they should focus on how Hamas keeps setting up it's facilities where there's a whole bunch of innocent people. Lay some blame on them.
“I'm with you regarding Israel's justification in attacking Hamas. I think Jews know full well what can happen when whackjobs start talking about exterminating them. And where is it written that blowing up night clubs and bus stops is the only way for Hamas to resolve this conflict? Look what Ghandi and MLK did by preaching peace.”
One more contribution:
“Good morning to the Great Plains,
“Everything is running slowly over here [UK]! Business especially. Our main street (high street in Anglo Saxon) is becoming a graveyard of failed businesses and boarded up premises. The bookies (betting shops) are doing well as are pawn brokers. The loss of FW Woolworths, an institution on British high streets since 1911, is a tremendous loss to the economy, not only those who shopped there, didn't we all at some time or other, but to the staff and the local economy that benefited from the their very presence. And we're told we're not in the eye of the storm yet.
“We've had the coldest start to winter for 30 years, this has added strain to personal economies, especially the old and infirm. Our government most definitely bothers us, borrowing money in a cash strapped economy to 'buy' the country out of crisis. Dangerous ground to tread. The calculation is that every new child born will inherit a bill of £17,000. Our neighbours are on short time, long faces are everywhere. There is the odd oasis of money though, recently in London I was amazed at the number of punters in the bars even on the streets drinking after work. But then we do have a drink culture here, with some that might be the very last item to be subjected to moratorium.”
My response:
I am sorry to hear of the High Street woes, made even more sad, and perhaps with a twinge of disgust, by the rampant, unchecked greed on Wall Street, e.g., L’Affaire Madoff, and “irrational exuberance” among some of the American citizenry that led to the precipitating mortgage / credit crisis. Who could have thought it would have such dramatic knock-on effects across the Great Waters? The carnage from this particular recession is far from over. The damage to innocent citizens is orders of magnitude greater than anything the banks or corporations will ever suffer. We see the corporate failures. We do NOT see the failure of individual citizens.
I have (perhaps blind) faith that we shall overcome this latest trial, as we have all previous versions. The magnitude of debt being racked up by governments across the globe is scary to say the least; yet, the consequence of not taking aggressive action seem far more horrific to me. We overcame the horrendous debt load after World War II. We can do that again, if we can return to a period of prosperity. Perhaps naïvely so, I cling to the belief that the economic corrections we must suffer today shall make us all stronger tomorrow.
My very best wishes to all. Take care of yourselves and each other.
Cheers,
Cap :-)
I am sorry to hear of the High Street woes, made even more sad, and perhaps with a twinge of disgust, by the rampant, unchecked greed on Wall Street, e.g., L’Affaire Madoff, and “irrational exuberance” among some of the American citizenry that led to the precipitating mortgage / credit crisis. Who could have thought it would have such dramatic knock-on effects across the Great Waters? The carnage from this particular recession is far from over. The damage to innocent citizens is orders of magnitude greater than anything the banks or corporations will ever suffer. We see the corporate failures. We do NOT see the failure of individual citizens.
I have (perhaps blind) faith that we shall overcome this latest trial, as we have all previous versions. The magnitude of debt being racked up by governments across the globe is scary to say the least; yet, the consequence of not taking aggressive action seem far more horrific to me. We overcame the horrendous debt load after World War II. We can do that again, if we can return to a period of prosperity. Perhaps naïvely so, I cling to the belief that the economic corrections we must suffer today shall make us all stronger tomorrow.
My very best wishes to all. Take care of yourselves and each other.
Cheers,
Cap :-)
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