National

Paul Krugman:

...Go back to the politics of 2009, when the new Obama administration was trying to cope with the most terrifying crisis since the 1930s. The outgoing Bush administration had already engineered a bank bailout, but the Obama team reinforced this effort with a temporary program of deficit spending, while the Federal Reserve sought to bolster the economy by buying lots of assets. And Republicans, across the board, predicted disaster. Deficit spending, they insisted, would cause soaring interest rates and bankruptcy; the Fed's efforts would "debase the dollar" and produce runaway inflation. None of it happened. Interest rates stayed very low, as did inflation. But the G.O.P. never acknowledged, after six full years of being wrong about everything, that the bad things it predicted failed to take place, or showed any willingness to rethink the doctrines that led to those bad predictions. Instead, the party's leading figures kept talking, year after year, as if the disasters they had predicted were actually happening. ...How would the men and women who would be president respond if crisis struck on their watch? And the answer, on the Republican side at least, seems to be: with bluster and China-bashing. Nowhere is there a hint that any of the G.O.P. candidates understand the problem, or the steps that might be needed if the world economy hits another pothole.

What are our state lawmakers doing about criminal enterprises chartered, incorporated, and employing tens of thousands of citizens in our state? As well as ripping those same people off? Seriously? Shouldn't they as LAWmakers be doing something? Don't they have a duty? Shouldn't they be focused on racketeering? Perhaps an employer engaged and convicted of energy market rigging: 5 banks guilty of rate-rigging, pay more than $5B?

Five major banks Wednesday agreed to plead guilty to criminal charges and pay more than $5.5 billion in collective penalties to settle charges their traders routinely manipulated the world's foreign-exchange market for their own profit. The Department of Justice, the Federal Reserve and other U.S. and European authorities and regulators said corporate units of Citicorp(C), JPMorgan Chase (JPM), London-based Barclays(BCS) and Royal Bank of Scotland(RBS) acknowledged their traders rigged foreign exchange prices of U.S. dollars and euros from Dec. 2007 to Jan. 2013.

Now go there and read their huge story on DuPont's destruction of West Virginia. Here is a taste:

Then, in the early 1980s, DuPont, which ran a sprawling chemical plant called Washington Works in nearby Parkersburg, approached the family about buying some acreage for a landfill. The Tennants were wary of having a waste dump so close to the farm. But DuPont assured them it would only dispose of non-toxic material like ash and scrap metal, and so they agreed to sell. Shortly after the deal closed, Jim and Della, whose home abutted the new landfill, say their two young daughters started wheezing and hacking. Worried about the girls’ health, they moved to a house in town. But most of their relatives stayed, and Jim and Della continued hunting game and eating beef grazed on the farm. Della took her daughters’ Girl Scout troop there to catch tadpoles in the creek and make plaster molds of deer tracks. Then, at some point in the mid-1990s, the water in the creek turned black and foamy, and the family began finding dead deer tangled in the brambles. The cattle started going blind, sprouting tumors, vomiting blood. “One time this cow was coming down the road and it was just bellowing, the awfulest bellow you ever heard,” Della told me. “And every time it would bellow, blood would gush from its mouth and its nose. It just bellowed and bellowed and blood just kept flying, and then it would fall down, and it would try to get up … We didn’t have anything to shoot it with, so we just had to watch it until finally the cow bled to death.”

My question is and will always be, at what point does the Governor of a State step in and do something about a company that constantly defrauds the citizens of his state? Of his country? And of the planet?

Did you get an automated call from JPMorgan Chase on your cell phone? Allegations are the company made unsolicited robocalls to cell phones, which is illegal. Now they are settling a class action lawsuit, and you could get up to $50 back if you qualify.

Jeet Heer at the New Republic says Donald Trump is not a populist, he is the voice of aggrieved privilege...

....of those who already are doing well but feel threatened by social change from below, whether in the form of Hispanic immigrants or uppity women (hence the loud applause he got at the first GOP debate when he derided “political correctness”). Far from being a defender of the little people against the elites, Trump plays to the anxiety of those who fear that their status is being challenged by people they regard as their social inferiors. That’s why the word “loser” is such a big part of his vocabulary. Trump is not the first authoritarian bigot to be mislabeled a populist. In truth, the term almost always gets misused to describe movements that are all about persevering (and enhancing) hierarchy, not about creating a more egalitarian society. Populism has been misused to describe Joseph McCarthy’s anti-Communist crusade, the John Birch Society, and David Duke’s white nationalism, among others. [...]

After Monday, the news on the Biden front has decidedly shifted. Remember we had Tomasky's piece on a game changing Biden-Warren ticket after their meeting on Saturday. But now we get a lengthy piece from Glen Thrush at Politico that highlights that "Biden is still not himself" after Beau's death, that his family and his wife Jill are not sold on another run, etc.

Mourning the loss of his eldest son Beau, who succumbed to a brain tumor three months ago, and under intense pressure from the presidential hype he’s helped stoke, Biden is more subdued, grayer and grimly on-task than usual — this while occupying political center stage for the first time since the promising opening days of his doomed 1988 campaign. For all the breathless reporting on Biden’s every move and meeting, he is, at core, a 72-year-old man presented with an unexpected, once-in-a-lifetime opportunity at one of the worst times of his life. Several people Biden has talked to in the past month say he starts off conversations by conceding that “some days are better than others,” mixing recollections of Beau with logistical questions about mounting a state-by-state challenge to a vulnerable yet still formidable Hillary Clinton. “He’s just not himself,” says a longtime friend of Biden’s. “He’s sort of all over the place. He’s engaged but not in that childlike, manic way he usually is. He’s taking it all in and soaking up information, but he’s hard to read. And Joe Biden isn’t usually that hard to read.” [...] But reports that the vice president has all but made up his mind to run are simply not true, according to a half-dozen people in his inner circle interviewed by POLITICO.

I used to work at MBNA. The glory days. When high interest rate credit cards where just making their nut. My first day of orientation, had a general in it. Everyone went to "Orientation". Even special generals. It was kind of of cool to me back then to see that the appeared to treat everyone the same. I was very young and ignorant of the banking industry at this point in my life. Why hire a 4 Star Retiring general into your credit card company?

On Wednesday, September 2, at 7 pm at the Del Dem HQ in New Castle, the Progressive Democrats for Delaware are hosting a pretty great event: a Legislative Panel on the Budget for the next fiscal year. Remember the 6 Progressive Democratic State Representatives who voted against the Budget for FY2016 at the end of the last legislative session? Remember their reasons? Because the leadership did not address a looming deficit in the coming fiscal year and did not have the courage to raise taxes on the wealthiest in this state. Well guess what, the planning for this fiscal year is here, and we have now reached the can that we have kicked down the road.