Since we ran a post yesterday on Indiana’s anti-gay law that is pretending not to be one, I thought that was plenty on this topic. However, when Bill Black sent me his brief legal analysis of the bill, I changed my mind. This legislation is a remarkably nasty piece of work. The trick is that the “religious” ground do not have to hew to any organized religion, giving the business owner or manager the right to claim any pet bias as part of his religion. If nothing else, it’s instructive to see how innocuous-seeming language can be anything but.
Tuesday, March 31, 2015
Greece Submits Insufficiently Detailed Reform List; Tsipras Tells Parliament of “Peace with Honor,” Um, “Honorable Compromise”
The Greek government continues to climb down substantively on its promises of resistance to the dictates of its creditors as time pressure intensifies.
Despite widespread environmental concerns and community opposition, in large swathes of the US, the fracking industrial complex has seemed unstoppable. That may finally be changing.
We regularly criticize government-subsidized lending as a terrible way to achieve policy goals. This interview with Sarah Quinn focuses on how Federal credit subsidies have grown and changed over time, with a major objective being to mask the extent of the support.
China has the potential to challenge the US on a military basis at a lower relative cost than many defense analysts assume.
Time to boycott Amazon. The Verge has broken an important story on how far Amazon has gone in its relentless efforts to crush workers.
Tom Adams: The Ocwen Meltdown: When a Company Discloses Conflicts of Interest, You Should Believe Them
By Tom Adams, securitization professional for over 20 years and partner at Paykin, Krieg & Adams, LLP. You can follow him on Twitter at @advisoryA It’s been a while since I wrote here about Ocwen Financial Corporation http://www.nakedcapitalism.com/2015/02/tom-adams-ocwens-servicing-meltdown-proves-failure-of-obamas-mortgage-settlements.html , the large non-bank mortgage servicer, but things haven’t gotten any better for the company or its […]
The intent of the “open for everyone” stickers is presumably to signal protest against the law. It’s telling that they appear to be springing up quickly in the face of a barrage of negative national press coverage as well as social media criticism. Most retailers have thin margins, which means all things being equal, their margins are best served by not annoying possible shoppers. So one would assume rectitude on this issue would be the wisest commercial decision. Thus, aside from those owners who favor gay rights, the reaction also appears to signal where many store owners think their community’s opinion lies, as in fence sitting is more costly than saying they aren’t on the side of the new law (or what it might mean in a worst-case scenario). In other words, are we seeing that the heartlands are more liberal than the religious bloc (which punches above its weight politically due to its effectiveness in getting out the vote) would have the public believe?
Citigroup tried to get back at Elizabeth Warren and her allies for daring to call out The Bank That Must Not Be Named. The move looks to have backfired.
While the New York Times did a public service by joining Wikileaks in publishing a draft chapter of the TPP, the accompanying article is quite another matter. Joe Firestone has taken it upon himself to
shred analyze it. The sad reality is that the Times is never going to oppose neoliberalism in a serious way.
This post illustrates how remarkably short investors’ memories are. Or they may be betting that if they have a big enough hissy fit when monetary authorities raise rates, as they did during the taper tantrum of 2013, that central banks will lose their nerve.