Links 5/3/17

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Stray Cat Brings Her Babies To Campers Who Fed Them Bored Panda

Giraffes Are Quietly Disappearing, but the US Can Help Stop Their Silent Extinction Truthout

LA Times editor gets all serious: ‘How could truth become so devalued?’ LAObserved (Kim K). From last month, still germane.

Remote security exploit in all 2008+ Intel platforms SemiAccurate (Shane). Important.

Apple Continues Its Comeback Campaign, but iPhone Worries Persist Wall Street Journal

CRISPR Eliminates HIV in Live Animals GEN News


China’s credit impulse tanks MacroBusiness

U.S. THAAD in S. Korea “operational” amid protests, hunger strike Xinhua (moss)

Trolling of Women Journalists Threatens Free Press The Wire (J-LS)

French Election

Many Mélenchon voters reject Macron in presidential runoff Politico

​Maghreb fears France’s far-right ‘disaster,’ pins hope on Macron UPI (Sid S)

“The Donald“ kills European right-wing Populism Defend Democracy


Brexit: Theresa May says she’ll be ‘bloody difficult’ to Juncker BBC. Help me. She and Juncker aren’t negotiating. It’s Barnier and Davies.

Grisly Panto LRB Blog (Chuck L) “May’s moral compass seems to have turned into a common-sense bypass.”

Greece Agrees to Tighten Belt Again in Return for Further Bailout Funds New York Times (Sid S). We linked to a Reuters report on this yesterday.


When Yes Means No London Review of Books (Chuck L)


Trump, Putin Look to Mend Fences Starting With Syria Cooperation Bloomberg. Lead story as of this hour. Could someone on Trump’s team be capable of 11th dimensional chess or is this just another random veer?

Yemeni Al-Qaeda Leader: We’re Fighting Alongside US-Backed Forces Antiwar (resilc)

Why did Trump bomb Cheyrat? Thierry Meyssan VoltaireNet (Chuck L)

Egypt and the End of the Secular Middle East American Conservative (resilc)

Imperial Collapse Watch

Predators and Reapers Need Support, Too Defense Industry Daily. JTM: “Does that include hugs for the onboard targeting brains, and the poor Hellfires that die with each action?”

Big Brother is Watching You Watch

I’m an ex-Facebook exec: don’t believe what they tell you about ads Guardian (JTM)

Trump Transition

Trump raises stakes for next shutdown fight The Hill

Despite Everything, I Am Happy Hillary Lost Counterpunch. We said before the election that the track record of celebrities in executive positions was poor, citing Arnold Schwarznegger and Jesse Ventura (Ronald Reagan was an exception by virtue of having been involved in politics before his run, by virtue of hosting a politically-oriened radio show for years and having been head of a union).

Jared Kushner’s Undisclosed Partners Include Goldman and Soros Wall Street Journal

Hillary Clinton joins the ‘Trump resistance’ BBC. Help me.


Outlook for Obamacare repeal turns bleak Politico. Quelle surprise!

GOP’s Health-Bill Woes Signal Ascent of Centrist Wing Wall Street Journal

Clinton: ‘I was on the way to winning’ until Comey, Russia intervened Politico. No one likes a sore loser. But Hillary’s whole problem as a candidate was that she never understood that she had to be likeable, as in either be likeable as a person or per Sanders, back policy positions that would appeal to voters. The “coronation” metaphor was no accident. She believes she should rule as a matter of right.

DNC Suit

7 Jaw-Dropping Revelations From Hearings on the Motion to Dismiss the DNC Fraud Lawsuit Counterpropa (AnnieB)

DNC: We Can Legally Choose Candidate Over Cigars In Back Room Medium

GOP senators dismiss Trump filibuster change The Hill

House panel to vote on GOP Dodd-Frank rewrite The Hill

With U.S. Senate Vote Looming, Docs Detail Wall St Lobbying To Block States’ Low-Cost IRA Plans David Sirota, International Business Times

Jay Clayton Confirmed as SEC Chairman Wall Street Journal

Texas officer fired for fatally shooting 15-year-old Jordan Edwards while driving away. Slate (resilc)

Fewer Indian Students Are Going to the US This Year – Are Gun Laws to Blame? The Wire (J-LS)

Massachusetts sues Ocwen for “abusive” mortgage servicing practices Housing Wire

All Eyes On Saudi Arabia As OPEC Begins To Unravel OilPrice

A $50,000 Chrysler Minivan Explains Slowing U.S. Auto Sales Bloomberg. Despite hardly every driving, I can parallel park a rental car in a single shot, close to the curb, in tight spaces. I hate the idea of cars that parallel park themselves taking away my one claim to special driving competence.

Big Summer Shutdowns Loom for U.S. Auto Plants as Sales Sputter Bloomberg (resilc)

Are Gasoline Prices About To Crash? Glut Moves Downstream OilPrice

Oaktree founder warns of risky private equity financing Financial Times. The pink paper takes notice…nearly four years after we did.

CalPERS’ credibility takes another hit as a board controversy blows up in its face Mike Hiltzik, Los Angeles Times. Hiltzik very kindly gives us a shout out. Normally I’d post on this but there may be another shoe dropping soon.

Guillotine Watch

Nick Saban to be paid $11.125 million this season after Alabama contract extension USA Today (resilc)

Puerto Rico could soon announce a historic, bankruptcy-like procedure to restructure a portion of its $70 billion debt NBC

Class Warfare

Coal Jobs Prove Lucrative, but Not for Those in the Mines New York Times

San Francisco is considering a once unthinkable measure to offset the threat of job-killing robots Business Insider

Facebook’s Female Engineers Claim Gender Bias Wall Street Journal

Antidote du jour. From jsn: “Bronx Zoo adolescent”:

And a bonus video:

See yesterday’s Links and Antidote du Jour here.

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  1. HBE

    It shouldn’t, but I am still completely amazed at how anyone retains the ability to make statements like this without their head exploding from hypocrisy overload.

    Republican Senators John McCain and Lindsey Graham on Tuesday urged their colleagues to take “real action” against Russia to punish the country for its “destabilizing behavior and counter its malign influence.”

    The must burst out laughing in private after delivering lines like this, there is only one true malign empire and it’s not Russia.

    1. perpetualWAR

      Guarantee none of that settlement will go to the homeowners who were screwed.

  2. James Levy

    Question: given the silly and dangerous provocation of flying potentially nuke-armed B-1 bombers over the Korean peninsula, if the North Koreans panic in a “use it or lose it” scenario and wipe out Seoul and the US military bases in South Korea before being annihilated in a US counterstrike, will the media rally around Trump or denounce him? Will the 30,000 plus dead Americans get Congress to laud Trump or impeach him? With a radioactive cloud headed for Juneau would Trump be pushed as a hero of decisive action, or a murderous fool who risked and lost so many lives when it was unnecessary?

    I really have no idea, but I am sure that one of those narratives will be taken up by the Power Elite and virtually all MSM voices will fall in line behind it quickly.

    1. Jim Haygood

      Will the media rally around Trump or denounce him?

      Every single MSM stenographer would echo CNN host Fareed Zakaria’s fatuous claim, on the occasion of the Syria bombing, that “Donald Trump became president today.”

      Stay tuned for the radiation forecast at 11.

      *cut to Walmart commercial offering incredible deals on gas masks*

    2. NotTimothyGeithner

      There hasn’t been a direct military retaliation in so long against the West. Terrorists and a few dead soldiers here and there can be written off, but Somalia and the Marines in Lebanon spring to mind as singular events where reaction was unusual.

      There was a reason Shrub hid the funerals and caskets, and it was shocking to find out 2,500 U.S. soldiers died in Afghanistan under Obama. Kabul and Kandahar aren’t exactly places people go for travel.

      1. Jonathan Holland Becnel


        Kandahar is famous for two things:

        1) The Boardwalk
        2) The Poo Pond

    3. voteforno6

      It would be nice if the Koreans could have a voice in this scenario, but I suspect that the media would not put much consideration into their opinions on this matter.

    4. cocomaan

      A conflict with NK would have already happened if it was going to happen, according to Dan Carlin.

      If you’re wargaming, and the US has its ducks in a row and its troops deployed to the penninsula, NK doesn’t stand a chance of doing anything but “turtling up”, ie, defending their territory.

      They can, however, strike Seoul before the US gets its forces into position.

      Now that the US has its forces in position, nobody in the NK military is going to bother. The conflict is probably over.

      1. a different chris

        Not understanding why you think the US can stop a strike on Seoul. It might be a suicide strike, but we can’t even get 100% of our most simple missiles (speaking about the 59/60) to an immobile target so I seriously doubt we can shoot down what are by todays standards very short range missiles. I of course doubt NK itself can shoot very straight or effectively themselves, but they can hurt Seoul and I doubt our somehow still vaunted technology will have much effect.

        (maybe I’m misunderstanding, not clear if you meant we could stop the missiles themselves or maybe that the strike has at this point become so suicidal that they won’t bother… or course they would never bother if we treated them just a little better than dirt)

        1. OpenThePodBayDoorsHAL

          I read that deeply dug in and distributed NK conventional artillery can rain something like 500,000 rounds on downtown Seoul in the first hour no matter how many drones the Orange Man wants to fling. It would be national suicide but it wouldn’t be the first time that’s been tried by countries in the region (the guys across the water with the single red circle on their flag come to mind)

      2. UserFriendly

        I listen to Common Sense regularly too. I recommend subscribing to the podcast which you can do here. Even though I have a few disagreements with him. The relevant part on NK starts at around 41:00 on episode 315. I don’t think that is what he is saying though. He was saying that if NK sees war as inevitable it makes much more sense for them to just destroy Soul now. But that only makes sense if NK wants to try and win the war. I doubt Kim is that naive. Kim knows just as well as anyone there is no war that ends with him alive. All his nuke chasing has been for the single purpose of keeping him alive and in power so NK can avoid one of our pointless regime change adventures. That all goes to shit as soon as any fighting starts.

    5. Plenue

      Denounce, ultimately. South Korean culture is too omnipresent in America at this point, including numerous fully bilingual K-pop stars. South Korean suffering would be highly visible, unlike that of Muslim brown people.

    6. Huey Long

      I wouldn’t get too excited over the B-1 bomber press releases DoD has been putting out as of late. The thing’s a turkey, so much so that they didn’t even bother deploying it during the first Gulf War.

      It’d get eaten alive if it flew within range of an integrated air defense system. Currently the USAF uses them as orbiting bomb trucks over notagainistan with a full load of JDAMs to support the grunts on the ground, but it is also capable of launching the AGM-158 JASSM.

  3. Jim Haygood

    Ten-baggers for the masses! Or not:

    The SEC on Tuesday approved a request to trade quadruple-leveraged exchange-traded funds, marking a first for the growing market for such products in the US.

    The request to list ForceShares Daily 4X US Market Futures Long Fund, under the ticker UP, and ForceShares Daily 4X US Market Futures Short Fund, under the ticker DOWN, was filed by the NYSE Arca exchange.

    One of the funds is designed to deliver 400 percent of the daily performance of S&P 500 stock index futures, while another fund will aim to deliver four times the inverse of that benchmark. That means a fund could go up 8 percent on a day the index it tracks falls by 2 percent.

    Stock margin lending has been frozen for decades by the Federal Reserve’s Reg T at 50% of the securities purchase price. Leveraged ETFs are an end run around Reg T. Which is not necessarily bad: with few exceptions, brokerage margin lending rates to small investors are usurious — far higher than the effective rate paid by leveraged ETFs using futures.

    Stock index futures offer about 20-to-1 leverage. But they are separately regulated by the CFTC. Only a few brokers offer integrated stock and futures accounts.

    Because they rebalance daily, leveraged ETFs suffer from horrendous volatility drag. A leveraged long ETF can lose money even in a year when stocks rise. Most punters would be better off with stock futures, both to dodge volatility drag and for better Sec 1256 tax treatment. But with the Fed, SEC and CFTC all merrily doing their own regulatory thing, chaos prevails.

    Sentiment-wise, 4X leveraged funds indicate an increasingly speculative mood. Remember 125 percent loan-to-value mortgages during Bubble II? Yeah, me too. :-(

    1. MyLessThanPrimeBeef

      We’re getting closer to bankers’ no-reserve lending equivalent for gambl…check that, investors.

  4. Pat

    So Shattered showed Clinton ran a dysfunctional campaign which had real problems understanding facts on the ground. Still no one does the logical hypothetical what does this mean for an administration run by someone who screwed up something they were planning for ten years after even having a failed attempt at eight years earlier. Rall points out the obvious thing that Clinton not only doesn’t learn from her mistakes she doesn’t want to, but that is as close to it I have seen.

    I know it won’t happen, but it would be nice if someone somewhere got that Clinton would have been faced with many of the same Congressional issues that Trump has, would be under constant investigation instead of Russia and have an internal organization just as dysfunctional in a whole different way. But acknowledging that Americans had no choice that would result in a functional representational government without an itchy trigger finger would probably be too honest for the owners.

    1. NotTimothyGeithner

      I have vague memories of people actually saying this after 2008. This might be why Hillary chose to run as “I am upper class woman hear me road at the waiter who messed up my order” to avoid the incompetence label.

      Versailles’ favorite was Colin Powell, and little attention was paid to Powell’s emails describing Hillary as incompetent. Of course, everyone might have believed it was a Shrub like situation where they just had to get into the room.

      1. Adamski

        Now she’s worming her way back into the public eye (hmm, unpleasant mental image) she will get to “screw everything up with hubris” in 2020, baby! Hopefully crashes out at the primary stage, though.

        1. River

          Hilary “Bot Fly’ Clinton.

          Her biggest problem is she lies too much to the only person that matters: herself.

          1. OpenThePodBayDoorsHAL

            Don’t they dig in under your skin and then later erupt with oozing maggots? I think I may have a new favorite metaphor.

    2. Jim Haygood

      How do you prove you’re an extreme policy wonk? You die with your boots on, still fighting in the political trenches long after your peers have retired to focus on gardening, socializing or traveling.

      Having run a Permanent Campaign since they were in junior high school, the Clintons just can’t forfeit their obsession with public acclaim. Hillary is the sadder case, resembling the earnest grind who studies six hours a night to become valedictorian, skipping all the extracurricular activities and parties, only to be pipped by a more creative mind who made it look effortless.

      Typically the future does not go well for such monomaniacal personalities.

      1. Adamski

        Prove to who, though? Difficult, tax-averse, affluent middle class voters who would vote Republican if the Dems got too liberal? There’s always a need to compromise to win elections, but compromise with who exactly… as Sanders says, the middle class is shrinking

        1. hunkerdown

          The DNC has been telling the left to shut up and take it and cheer on cue for quite a long time. I’d be very interested to know why you don’t think oligarchs and liberals need to compromise with the left and why the left shouldn’t run them out of the Party.

      2. Olga

        Wow – you almost made me feel sorry for HRC… But then I remembered the extent to which she was disconnected from most in the electorate and for most of her career (e.g., Goldwater girl, cookies, super-predators, deplorables, etc.) . Her sense of privilege seems to be a congenital condition. Bill at least had the appearance of empathy, but she never was able to get “humanized.” Beyond incompetence, this had destructive results within the US (i.e., welfare reform), and was exceedingly dangerous on the international scene (Yugoslavia; we came-we saw-he died psychopathy). One question, though, is how did she ever manage to get the ‘progressive’ label? Is it because of this – l saw a clip of her saying that even if she punished/closed a bank, that would not help a single transgender person live better (or something to that effect, still looking for that clip). Talk about identity politics!

        1. TK421

          I think identity politics is the reason she was seen as progressive. All one needs to do is occasionally give a speech or other lip service about women’s rights or supporting children or some such, and a large crowd of opinion-makers will call that ‘progressivism’.

      3. John k

        Did you mean to imply that she at least grew competent with the six hours/night studying, albeit not smooth?
        I agree she’s not smooth, indeed remarkably coarse, but can’t think of a single thing at which she’s competent other than grift and starting badly thought out ME wars.

        Now bill was smooth, and competent at serving banks. Plus no ME wars… best pres since Nixon.

    3. Katharine

      … it would be nice if someone somewhere got that Clinton would have been faced with many of the same Congressional issues that Trump has….

      Of course someone does, lots of ones, in fact, just not the ones in power. So that is “all” we need to change, either by pushing malleable politicians or by replacing them, which we need to do anyway.

      Speaking of which, Dean Baker gave a link to the EPI analysis of “The People’s Budget” put out by the Progressive Caucus and strongly recommended reviewing it. I would suggest that instead of just admitting it stands no chance at present we should all be so unrealistic as to hound our representatives about it, with special emphasis on whichever parts we care about most deeply.

      1. Eureka Springs

        Thanks for the heads-up on this. They really need someone like Ian Welsh to post in plain english.

        Surprisingly the Grijalva Progressive Caucus page has more.

        I noticed the Progs and single-payer seem to have shrinking violet faux resistance syndrome.

        Affordable Health Care

        Maintains critical coverage gains under Affordable Care Act

        Lowers costs of prescription drugs

        Allows states to transition to single-payer health care systems

        Expands access to mental health care and treatments for opioid and heroin addiction

        Repeals excise tax on high-priced healthcare plans for workers and replaces with public option

        1. MyLessThanPrimeBeef

          Free Health Care for All.

          Universal Public University Admission (lest we create more inequality where some get college for free, some don’t get college at all- because they are not as smart).

          If you want to go to SUNY, you should be able to, regardless of your high school GPA.

          Unrealistic maybe, but when you dream, dream big.

          Free Nursing Homes for Anyone who wants to go one.

          1. marym

            quick search – at least some SUNY community colleges offer open enrollment to people with a high-school diploma or equivalent and some community colleges may offer assistance obtaining the latter.

              1. marym

                I’m in favor of that, but it’s helpful to know if it already exists and how widely. The City Colleges of Chicago are also open admission colleges, and another quick search finds a non-Chicago Cook county community college that has open admissions.

                1. Katharine

                  Maryland public colleges have had open admissions for decades, and on the whole this is a good thing. What they too often lack is effective mechanisms for quickly identifying students in need of major remedial work. It is hard on faculty to have students in class who are functionally illiterate or innumerate, and hard on those students as they finally run into the brick wall that says social promotion stops here. Much of the pain could be alleviated if there were swift effective intervention. That something should have been learned ten years ago does not mean it will take ten years to learn, and it is surely a more effective use of resources to bring students up to speed than to leave everyone’s classroom experience to be undermined by some people’s unfortunate lack of background.

          2. justanotherprogressive

            “Universal Public University Admission (lest we create more inequality where some get college for free, some don’t get college at all- because they are not as smart).”

            Universal Free High School isn’t something that we’ve always done. Should we NOT have Universal Free High Schools because you think some students aren’t smart enough?

            Oh, and btw, I squeaked out of high school with a 2.0 (I even flunked typing….). I guess than means I should give back my MS in Engineering (with honors) because obviously in your world, I wasn’t smart enough to earn that advanced degree……I am grateful that my local college that was willing to take a chance on an older student with no appreciable academic history….

            No, college isn’t just for “smart” people (and I question what your definition of “smart” is – is it only related to GPA?) – it is for people who need to learn more than they are currently taught in public education……and yes it needs to be free too!

            Our world has gotten increasingly complex and technological – to assume a high school education is enough for humans to thrive isn’t “smart” in my world…..

            1. MyLessThanPrimeBeef

              Yes, seriously.

              Free college (not just community college, but colleges like University of Michigan, University of Illinois, and UC Berkeley, for ALL, meaning those with 2.0 GPA as well, who want to go, not just all who meet some mysterious qualifications, like interning at Goldman Sachs, with donor parents, etc.

              1. justanotherprogressive

                Sorry, I think I misread your post. I thought you were saying that Universal Higher Education wasn’t a good idea. I apologize!!! Sometimes things like irony, nuance, sarcasm, etc. just fly over my head……

                1. MyLessThanPrimeBeef

                  Perhaps I could have composed the comment better.

                  In any case, I just glad you read it, agreeing or disagreeing. Gladder still to find another big dreamer.

              2. Jeff W

                As I’ve said before, the entire UC system was free (with some incidental fees) for over a century, from its inception in 1868 to about 1970, when, under Governor Ronald Reagan, students began to be charged an “educational fee.”

                In other words, tuition-free higher education has a long tradition in the US. It’s not radical and it’s not some “foreign” idea (viz. “We’re not Denmark!”), not that it would matter if it were.

                1. MyLessThanPrimeBeef

                  It’s that everyone should be able to receive it, if he/she wants to give it a try.

                  We might even say that the low GPA students especially need it.

                2. Antifa

                  Every nation’s adult population is hard at work to advance their civilization and to garner wealth so everything they value can be handed over in toto someday to the short humans, the ones we call our children.

                  That is who you’re working for, ya know.

                  If a nation gives up on doing their very best to raise the brightest, healthiest, and most prepared children on the planet, and instead saddles them with either a poor education or a lifetime debt burden (or both), what pejorative do you choose to describe that nation?

                  1. jrs

                    considering how many parents abuse their own children, of how extremely common place child abuse is (and that’s not even collective children and not the socioeconomic system) that is direct abuse of their own children, I don’t know.

                    As for who I’m working for, two words: THE MAN. Because it’s that or starve.

                3. Kokuanani

                  Tuition at UCLA Law School 1972-1975 was ~$525/year. Books, of course, added to that, but not in as great an amount as they do now.

                  And then CA passed Prop. 13, [1978] and things really went to hell. Haven’t yet recovered.

                  OTOH, first job on graduating from law school paid $17,500.

                1. MyLessThanPrimeBeef

                  They are not making the test easier, but eliminating the test all-together?

      2. Pat

        Oh, I know many people here and elsewhere get it about Clinton. Unfortunately we still have a whole lot of the media, including the ladies on the View who still bring up the popular vote again (in fairness one had the sense to point out the popular vote does not elect the President and never has), and they have the largest megaphone. It is still excuses and identity politics and a failure to recognize that both parties, and their leaders, are largely incompetent.

        I will be contacting my representatives about the budget unfortunately I find a lot to be distressed in this. For instance this section on ‘Strengthening the Safety Net’:

        Instead, it uses government purchasing power to lower health care costs (health care costs are the largest threat to long-term fiscal sustainability) and builds upon efficiency savings from the Affordable Care Act.

        ACA? They are going to build on the ACA that allowed the privatization of Medicaid further crapifying that safety net in order to make sure people have Medicare and SS if they live that long?

        Don’t get me wrong, I know that in the choices we are even allowed to see brought up in our political climate this is about as good as it gets. Still it is a far cry from what a progressive or even FDR school Democratic policy should be.

        1. Katharine

          I am assuming the building on the ACA is tactical realism only, because this is a proposed budget that would take effect in less than six months and single-payer in that time frame is not feasible. Considering most if not all of them are now cosponsors of H.R. 676 they cannot possibly think the ACA is a solid basis for a long-term solution. I agree entirely with your last sentence, but I am guessing budget proposals work mostly within the existing legal framework. You can defund an existing department or program but not allocate funds to one that does not exist because its creation would depend on separate enabling legislation (I think–if this is a misconception I hope one of the legally enlightened will tell me).

          1. Pat

            True enough.

            Some of this is a result of many years of watching the Progressive Caucus roll over and then gloss over the resulting neoliberal disaster as anything but what it really is. I find most of the so-called gains of the ACA as far as cost containment to be wishful thinking at best and outright misrepresentation much of the time, so I will continue to be skeptical as to that. As I said I’m sure this is the best of the bad bunch, but there is a whole lot of weasel waffling in that presentation, for instance in the reference to the defense budget.

            1. Katharine

              Skepticism is probably healthy. I always used to feel a bit exasperated when Charlie Brown landed flat on his back again.

    4. Jeff W

      Ted Ralls’s arguments are right but irrelevant. It doesn’t matter how dysfunctional the Clinton campaign was or how Clinton couldn’t come up with a reason to be President or any of that stuff revealed in Shattered. (All that just means that she might have been [even] less effective at governing than we might have imagined her to be.) If she had run a flawless, stellar campaign or she had “had the right personality to lead people” or whatever, she’d still be the neoliberal candidate and, if she had won, that victory would do nothing to alter the neoliberal trajectory of the party of the Washington establishment.

      The reason that it’s good that Clinton lost is that it opens up the space for something other than the establishment/neoliberal/Washington Consensus that has prevailed for the past 30 years. It doesn’t have to do with Clinton herself. If that loss is not seen as a clear repudiation of the dominant philosophy, it’s at least an indication that people are no longer willing to just go along with it.

  5. rjs

    a google search on the Kushner story at the WSJ reveals that it originated with Brietbart..

    1. rjs

      that’s a mistake; the Brietbart article refers to an earlier WSJ article
      my above inaccurate comment was based on the google time stamps..

    1. MyLessThanPrimeBeef

      Is the new private terminal capable of handling space travel as well?

    2. RUKidding

      I think eventually the airlines will make the Steerage “customers” be packed in like sardines standing up with absolutely no space between you and the people in front and in back of you. Plus no bathrooms at all. Adult, child and baby diapers will be sold at the gate.

      Of course, no snacks or drinks bc the flight staff won’t be able to hand them out, nor will you be able to eat or drink with your arms locked in at your sides.

      Fly the friendly skies….

      1. allan

        Does anybody know how to use the Wayback Machine or something similar?
        Because I swear that the original version of the CNN story that I linked to
        on the Water Cooler late last night had several things
        that are now missing from the current version of the story
        (which is what you get when you click on the link above).

        1. There was the text that I included in my WC comment:

        Fliers will still pay regular economy fares for the 18 seats with two inches less leg room. Two of those three rows of 29-inch pitch will be in the back of the plane and a third farther forward. These seats won’t be part of its new basic economy fares, which sell for less because fliers don’t get access to overhead bins, a seat assignment or frequent flier miles. …

        18 lucky duckies per plane. Should definitely help with the morale in steerage.

        2. Either a quote from an anonymous airline source, or just the reportorial voice,
        stating that American was taking measures such as cramming in more seats
        in order to pay for the modest raises to the pilots and flight attendants
        that were announced a few days ago.
        I’m kicking myself for not having cut and pasted that, too.

        When in doubt, blame labor.

        1. allan

          Here, via the Internet Archive, is yesterday’s version of the CNN article,
          containing the text in item #1 that has now eliminated.
          Item #2 is as in the current version, namely

          Airlines have enjoyed strong profits and low fuel fuel prices after a decade of consolidation. They’re adding seats now to help offset rising employee wages.

          No mention of goosing stock prices, paying for buybacks or justifying executive compensation.
          Go figure.

    3. Vatch

      I’ll repeat myself: we need the restoration of the Civil Aeronautics Board. The airlines need to be more heavily regulated.

      1. justanotherprogressive

        Errr…the CAB was replaced by the Federal Aviation Administration (FAA) in 1958 – it performs the same functions…..

        If the airlines could only convince the FAA, we would all be standing…….
        Maybe while Trump is cleaning the swamp, the airlines can get him to clamp down on the FAA? Yea, won’t that be great too? /s

      2. Huey Long

        I’ll repeat myself: we need the restoration of the Civil Aeronautics Board. The airlines need to be more heavily regulated.

        Yes, and they need a Nader-esque guy or gal running the show, not some ex-airline exec who’s going to pass back through the revolving door and into a cushy gig at some airline once his time as a regulator is up.

      3. Yves Smith Post author

        Hate to tell you, but it is an urban legend that the airline regulators ever cared much about passengers. The fact that they did have some more pro-consumer rules back in the day was a function of general social values, not their orientation.

    4. RabidGandhi

      Sounds good to me. Less space (“pitch”) means it’s harder for them to drag me out for Failure to Volunteer.

  6. MyLessThanPrimeBeef

    Clinton: ‘I was on the way to winning’ until Comey, Russia intervened Politico. No one likes a sore loser. But Hillary’s whole problem as a candidate was that she never understood that she had to be likeable, as in either be likeable as a person or per Sanders, back policy positions that would appeal to voters. The “coronation” metaphor was no accident. She believes she should rule as a matter of right.

    Sort of like John was on the way to winning the English crown until, this is all fictional we’re talking abuot, Robin Hood intervened.

    1. RUKidding

      I do think Comey played some small part in Clinton’s loss, but the bottom line is that she ran a completely sh*thouse campaign, where she went after wealthier Republican voters, while completely ignoring working class voters in critical swing states like WI, PA and MI. Her deplorables diatribe was truly gobsmackingly stupid and showed what a jerk she really is. Ya think someone like her will, you know, actually try to work on your behalf??

      Even my most die-hard Clinton fan friends are grumpily coming around to agreeing with this assessment. Maybe that’s why she’s so desparate to continue shouting out her Russia, Russia, Comey, Comey bs. She’s starting to lose some of her most die-hard fans. May the rest of her fans begin to awaken to the reality of how very flawed and compromised Clinton was, is and will continue to be so.

      1. Antifa

        Ten reasons Hillary will win in 2020 . . .

        * she’ll have 4 more years of Experience.

        * she’ll be recently widowed (after Bill’s accident).

        * that very special wisdom that comes with old age.

        * a much larger team of doctors and body handlers.

        * an ironic new hipster campaign slogan — I Don’t Surf!

        * the arrow on her trademarked ‘H’ logo will spin freely to point in every direction, even yours.

        * vocal implants to replace that cackle with a lilting “Tra la la” as she walks away without answering.

        * it will sooo be Her Turn. Literally. Not even kidding.

        * the GOP will nominate Paul Ryan by Christmas, 2019.

        * cyber and genetic implants will render Hillary immortal and omniscient. Or at least fully data-driven.

    2. Plenue

      The thing that gets me most about Comey is that there was an actual travesty of justice involved there, but it’s the exact opposite of what Clintonites claim. I well remember how the FBI found clear signs of law-breaking, but then Comey came out and essentially said “but we didn’t find any intent to break the law, so it’s okay”. And then all the liberals patted each other on the back and nodded. “Hmm, yes yes, he’s such a good lawman.”

      And then new evidence appeared, courtesy of Weiner (and not just randomly out of the blue on Comey’s whim, like liberals try to present it), and Comey reopened his sham investigation, only to close it down a second time, claiming again to have found no ‘intent’ of wrongdoing. It’s breathtaking to watch the Clinton’s vilify one of their toadies.

      1. Adamski

        The letter also seems to be the result of him previously telling Congress he would keep them apprised of any new developments.

        When he made the statement saying he wouldn’t recommend prosecution he didn’t explain the difference between Clinton being “extremely careless” and the standard of “gross negligence”.

      2. EricT

        Which liberals patted each other on the back? I most certainly didn’t. Please leave the labels out of the comments, it only creates divisions and makes your observations look highly partisan and easily discounted.

        1. witters

          Black/White, Red/Green, Top/Bottom, Cooked/Raw, Victory/Loss, Believers/Atheists, Democrats/Republicans, Neoliberals/Socialists – “Stop creating divisions! It makes you look highly partisan and easily discounted”

        2. Jonathan Holland Becnel

          You can find them at ur corner blog store:

          Balloon Juice
          Daily Kos

  7. ProNewerDeal

    Does a book exist written by a historian or other social scientist that numerically rates the President, say going back to Reagan or FD Roosevelt, relative to some pro-99%er standard?

    The “gold” standard could be anti-War, pro-racial equality democratic socialist ML King Jr, FD Roosevelt himself, or Sanders & his 2016 campaign platform of MedicareForAll, etc. The rating could be absolute, & also relative, in terms of it did improve or worsen the status quo relative to prior generation/30 years. Perhaps the “gold” FD Roosevelt standard would be 100, & the crap worse possible standard of say a H1tl3r would be a 0.

    The ratings should be based on actions while in office. For example, 0bama would be receive negative ratings for his ACTIONS killing MedicareForAll & “the Public Option” to comply with the demands of his health industry donors (per Firedoglake/Jane Hamsher’s reporting), despite his WORDS of campaing-promising the Public Option & then blaming the Rs for the Public Option getting removed from consideration.

    A Top10 list each of positive & negative actions of each President could be included.

    The most relative economic statistics should be used, e.g. 25-to-54 employment-to-population ratio, not unemployment rate. If debt is used, total debt (including private debt)-to-GDP ratio, not raw public debt without relation to GDP. Median adult values for life expectancy, income, wealth; not mean averages. Etc.

    It would be useful to discuss Presidential job performance on such a scale, instead of binary Who Was the Greater Evil, Bush43 or 0bama, type of debates.

    1. Pat

      Not to say this wouldn’t be good, but sometimes the policies of previous administrations and congresses will be reflected in a President’s statistics, the most obvious of this would be for FDR. His was the administration that dealt the most with the fallout of the Crash. I think you would need asterisks for some of this. For instance Obama would have to be given a pass for the economic statistics for the first couple of years of his administration, but the continuing recession/depression after might be entirely laid at his feet. Not sure how you divide it up, but that slow moving train thing would apply to more than just more obvious examples.

  8. MyLessThanPrimeBeef

    Nick Saban to be paid $11.125 million this season after Alabama contract extension USA Today (resilc)

    Sports and politics.

    The blind allegiance to teams in sports is a good exercise before one grows up to vote in politics.

    “Just one phone call before the election, and I will vote whatever and whoever my party is for.”

    “I am young. I just finished got brainwashed in college recently. And all my friends were in that party. Naturally when they asked, I registered. Older people are curmudgeons. They have no friends.”

    When a Dodgers fan automatically hates the Giants – that’s what you want from your loyal party members.

    1. ProNewerDeal

      +1 strong agreement! I wonder if US-style 2 party system leads to dumbed-down “support my team” politics, relative to say the multiparty (11 candidate) French Pres election just held.

    2. aletheia33

      a military, imperial, warrior society must cultivate and enforce allegiances like these (especially in males) from an early age or give up deriving its high standard of living from looting and pillaging enabled by conquest and puppet dictatorship.

      yes, a vast generalization. i’d love to be wrong.

      1. MyLessThanPrimeBeef

        It’s always puzzling to me that a sacred vote, yes, a sacred vote, is just one call from a paid or unpaid campaign worker at the phone bank away.

    3. Huey Long

      The blind allegiance to teams in sports is a good exercise before one grows up to vote in politics.

      Sports is chock full of Bernays Sauce, which is why I have completely lost interest watching sports.

      Everything from the blind loyalty to one’s team, the style guides issued to the leagues to the broadcast booth guys that have them referring to players as “weapons,” the re-framing of injuries as an “inability to stay healthy,” the lionizing of coaches who treat their players like dirt, etc.

  9. JohnnyGL

    No doubt #theresistance will immediately draw attention to an important women’s rights issue.

    On 2nd thought….nah…they don’t give a flying FAMILY BLOG about this kind of thing. Because Honduras is an important US ally where the palm oil and banana plantations must be prioritized.

    Remember everyone, abortion rights only matter when Sanders’ supporters look like they’re going soft on this issue. Beyond that, abortion rights don’t really matter.

  10. Louis

    The Business Insider piece on San Fransico’s proposal to implement a robot tax was interesting. In addition to wisdom of enacting such a tax in the first place, the larger question may be what exactly constitutes a robot or threat to jobs?

    The potential threat to jobs isn’t just robots, in the sense that people think of them, but also AI and software. Limiting the tax to physical robots won’t do a lot of good but on the other hand extending it to taxing software could also have some unintended consequences.

    The challenges arising from increasing automation presents a complicated problem–it’s not as clearcut as “Technology A is bad” and “Technology B” is good–with few easy answers.

    1. MyLessThanPrimeBeef

      Another issue to consider.

      Robots don’t just take away jobs.

      A Homework robot can be programmed to perform A+ homework assignments for the rich kid whose parents own it.

      A mini (in the pocket) robot can even score 100% on all tests.

      Then, the rich kid can go to UC Berkeley tuition free (in some near future), while the poor ones, the really poor ones, go to private, and not free, colleges. Smart kids, if they are smart, of course opt for free education. And free tuition public colleges graduate smarter graduates. But which is cause, and which is effect? In any case, if you’re not smart, and/or don’t have the parental support, you fall further behind.

      1. Kurt Sperry

        Projects that large have considerable lag between initiation and completion. Might the lag period between the manic up where the project is financed and the inevitable following dip in the business cycle just be a case of the two having similar periodicities?

    1. Huey Long

      Well, FWIW NYC has a whole slew of supertalls going up, and an entire neighborhood of tall buildings being put up over a rail yard.

      SL Green’s project next door to Grand Central Station has been giving investors ulcers as of late because they only have one tenant signed to a lease at the moment. The CEO himself just put a million of his own money into the project in order to bolster confidence!

    1. a different chris

      No I don’t but for some reason — ok for many obvious reasons — I first read your post as “…for the Le Pen Macron debacle“. Man I am a cynic.

      1. Antifa

        A perfectly understandable error, since those are both French words originally, non?

        Google Translate says debate goes on your hook before it hits the water, and debacle keeps your belt keeping your pants from falling down.

  11. Steve Roberts

    as per DNC lawsuit: if the DNC is arguing their primary elections don’t matter, why should state and local governments fund to hold their elections? Otherwise the government are funding a fraudulent election.

    1. ewmayer

      Jeebus, talk about a prolix bowl of tortured-logic word salad … ooh, it’s “class warfare”, not “bicoastal elitism”. No correlation between those two!

  12. Altandmain

    There is a billionaire PAC apparently targeting Warren:

    From the Intercept on President Pensions as a reason why they don’t have to sell out:

    File under class warfare
    More on the water crisis in Flint. 8000 people put on notice for unpaid water bills:

    The GOP just made some changes to overtime payment – workers I suspect will get screwed

    1. Huey Long


      Under the proposed changes, eligible employees — if their employer decides to offer the option — would be able to voluntarily choose to receive comp time they can bank and use at a future date in lieu of immediate overtime pay in their paychecks.

      How “voluntary” will this be for non-union employees I wonder? I can see the slimeball managers at Koch Industries or Renco strong-arming their workers into taking this deal to keep costs down, i.e. if you work OT and don’t take the comp time, your manager blackballs you from further OT.

      1. ambrit

        More apropos is that this reinforces the managers ability to play games with the employees work schedule. Where I presently toil, there is a sign below the weekly work schedule saying; “Subject to change at any time. Check daily for shift changes.” Now the workers are responsible for managing their own exploitation! So, as an example, a worker has three days “off” a week. With this system, their “free time” is subject to instant cancellation. “Free time” is now a classic “doublespeak” term. I see all the time now instances where so called “hourly” employees are being treated as a lower form of “salaried” employee. (Lower in that they are subject to all of the stresses and abuses of “salaried” work with none of the “benefits” thereof.) In line with standard Naked Capitalism usage, let us refer to this as the “Crapification of Labour.”

      1. MyLessThanPrimeBeef

        Some people are warned about toxic, unhealthy junk food.

        They still buy it. Is the blame on them? Some do it because they don’t have enough money to buy healthy foods. Some, out of addiction (voluntary, or maybe involuntary, because food scientists are too smart and know how to manipulate the brain, after learning some of its secrets uncovered by our elite, very smart, genius researchers).

        A case can be made, as well, for not paying for unhealthy junk food on one’s credit card.

  13. Pelham

    Instead of taxing robots, how about a simple law that says if a robot takes your job, you own the robot and the surplus value it produces? That should solve the problem one way or another.

  14. flora

    re: Clinton: ‘I was on the way to winning’ until Comey, Russia intervened – Politico.

    ” No one likes a sore loser. ” -Yves.

    No, they don’t. And, in these more enlightened and equitable times (tho still a long way to go), no one likes a “queen bee”* candidacy, which is what Clinton’s campaign was.

    * is the term “Queen Bee” still in use? If not, that’s progress.

    1. NotTimothyGeithner

      I believe Tina Fey brought the term back into popular usage with “Mean Girls” which is inspired/based on a non fiction work about queen bees.

  15. rich

    Readers Pummel New York Times Writer Over His Big Bank Stance By Pam Martens and Russ Martens: May 3, 2017

    Sorkin’s latest article was addressing the recent comments by President Trump and his Director of the National Economic Council, Gary Cohn, indicating that they are taking a look at restoring the Glass-Steagall Act – the depression era legislation that separated banks holding insured deposits from the high risk investment banks that underwrite and trade risky securities. The Glass-Steagall Act protected the nation’s banking system from its passage in 1933 to its repeal in 1999 during the Bill Clinton administration. It took just nine years after its repeal for Wall Street to implode in the same epic fashion as 1929 – 1933.

    Millions of Americans understand that the unprecedented concentration of deposits, assets and derivatives at four mega banks (JPMorgan Chase, Bank of America, Wells Fargo and Citigroup) which are also key players in the Wall Street casino, is diverting capital into dodgy transactions and away from the real economy. The subpar economic growth of 2 percent or less since the Wall Street implosion of 2008 (when the first three of these banks became even larger by gobbling up their failing peers) is clear evidence that the Wall Street machinery is misallocating capital to the wrong arteries of commerce.

    But Sorkin sees it differently, writing yesterday:

    “Viewed through the prism of goosing the economy and creating jobs — as Mr. Trump has pledged his efforts should be viewed — it’s hard to see how breaking up the biggest banks would help, especially in the short term. Indeed, it would most likely have the opposite effect.”

    Sorkin offers no supporting evidence for this whacky view other than to provide a quote from the former Chair of the Federal Reserve, Ben Bernanke, who tersely offers: “I don’t think that Glass-Steagall was a cause of the crisis.” (Presumably, Sorkin is suggesting that Bernanke doesn’t think the repeal of Glass-Steagall was a cause of the crisis.) In reality, anything Bernanke has to say on this score must be taken with a grain of salt. He was Chair of the Fed for the entire period when it secretly pumped a cumulative $16 trillion in almost zero interest-rate loans into the failing carcasses of Wall Street banks and their speculating investment houses. More than a cumulative $2.5 trillion was secretly pumped into the failing Citigroup, despite the fact that the Fed is not allowed to loan to insolvent banks. It took a Federal lawsuit, a legislative amendment and a study by the Government Accountability Office to unearth the details of these astronomical loans by the Fed. Bernanke’s Fed fought disclosure to the public.

    There are now more than 300 comments under Sorkin’s article at the New York Times, the majority flogging him for his myopia and/or bias. One commenter asks:

    “Is this an op-ed piece? Ross-Sorkin always seems to want to let the banks do whatever they want to do. Can we get his columns put on the Opinion page, and hire someone with historical knowledge to counter his inside- of- Goldman- Sachs perspective. Please.”

    Another reader offers this:
    “…It’s clear that the repeal of Glass Steagall has the US and world economies just one bad bet away from another multi-trillion dollar meltdown that we, the US taxpayers, would pay for just as we did in 2008. Banks should provide bank services, you know, like in the old days following the 1929 Crash — holding deposits, paying interest, making home and business loans. Let the investment banks play their games and when they inevitably screw up due to unbridled greed, let their shareholders — not the taxpayers — take the hit.
    Guessing Sorkin not a fan of Sinclair?

    Sinclair drew an analogy between journalists and prostitutes, beholden to the agenda, ideology, and policies of the monied elites that owned and controlled the press. It was an integral part of his broader critique of the corruption of U.S. politics and the appalling nature of capitalism: “Politics, Journalism, and Big Business work hand in hand for the hoodwinking of the public and the plundering of labor” (p. 153).

    1. Pat

      Something I’m sure most here will want to miss this treat, in person or on demand, in order to keep their blood pressure down.

      Yeah, I’m pretty sure that moderating this shows how ‘objective’ Sorkin is, because I know when I think start ups and the economy the first person who comes to my mind is Geithner…

  16. a different chris

    Well here is today’s RW idiocy, related to the floods (in Missouri, specifically)

    >”The old-timers, they know how the river reacts,” Cape Girardeau County emergency management director Richard Knaup told the AP. “They’re old swampers, let me tell you. They’re good country folks. They’d sooner take care of themselves than depend on the government.”

    We would ALL rather take care of ourselves, sometimes we can’t. So we depend on the wider society (expressed by the government) when it just gets too much, like a freaking 100yr flood. Mr. Knaups job is to show up at least virtually thru his subordinates and say “do you need any help, here? No, OK, let us know if you do”. Not to bang on some “good country folks” (whiter than white, no doubt and probably barely mobile given the diabetes/etc run rampant now in that particular population) BS.

    That guy needs fired yesterday. I am sick of these morons.

    1. j84ustin

      I went to school in Cape. There are a lot of poor people in Cape, and like you said, even if they WANT to help themselves… they really aren’t in a position to do so.

  17. rich

    Robert Parry Warns – The New York Times is Cheering on Censorship Algorithms

    The Stratcom center, which oversees information warfare against NATO’s perceived adversaries, is conducting “a hackathon” this month in search of coders who can develop technology to hunt down news that NATO considers “fake.”

    Sarts, however, makes clear that Stratcom’s goal is not only to expunge contradictory information but to eliminate deviant viewpoints before too many people can get to see and hear them. “State-based actors have been trying to amplify specific views to bring them into the mainstream,” Sarts told the Times.

    The key thing to understand about this push, is that it has nothing to do with fighting back against actual fake news, i.e. stories that promote total fabrications. The existence of truly fake articles is simply being used as a smokescreen to disappear alternative opinions from the public debate. That is the real intent of the “fake news” meme.

    With the myth of the “American dream” rapidly being exposed as a sham, the corporate press needs to be able to efficiently propagandize the public in increasingly absurd ways, but the problem is much of the public no longer believes its nonsense. How can corporate media push Americans to support things against their interests and better judgement such more war, billionaire worship, and the surveillance state without silencing the opposition? It can’t, which is why it needs to marginalize intelligent and thoughtful people espousing a different perspective.

    I know for a fact that the corporate press doesn’t care in the least about “truth” or “fairness” in reporting following my own personal experience with The Washington Post. Recall that last November, in the aftermath of the media’s panic at Hillary’s loss, the paper pushed forth slanderous accusations against 200 alternative websites including Liberty Blitzkrieg. For more on that truly deplorable episode, see: Liberty Blitzkrieg Included on Washington Post Highlighted Hit List of “Russian Propaganda” Websites.

    Meanwhile, the Department of Justice (which couldn’t find a bank executive to imprison if its life depended on it), is hard at work trying to institutionalize attacks agains the non-corporate press by going after Wikileaks and Julian Assange. As Glenn Greenwald observed earlier today:

    1. Carolinian

      On the other hand the NYT don’t read list could give us another page of useful daily links.

    2. dontknowitall

      Eric Schmidt of Google, who by the way was at the Hillary fete on election night and saw the glass ceiling come crashing down, said a couple of days ago that he didn’t want to erase ‘fake’ news he just wants to have them pushed so far out of casual reach that you really have to look hard to find them. This is a Money Party exercise to retain control of society as the traditional media implodes.

      Here is Google’s chairman Eric Schmidt just before the gynourmous Hillary implosion wearing his Hillary staff ID…

  18. BruceK

    It’s all kicked off this afternoon, with May accusing the EU of meddling in the election:

    Channelling Erdogan maybe?

    On a different note, I have suspicions whether the ‘Richard’ rant comments above are exactly what they seem. It’s so extreme it reads like a parody.

  19. allan

    Obamas unveil design of presidential center in Chicago [Chi Trib]

    Former first couple Barack and Michelle Obama on Wednesday offered the first look at the design of the planned Obama Presidential Center in Jackson Park — a campus of three buildings highlighted by an eye-catching museum, whose height and splaying walls would make a bold architectural statement.

    The design appears to call for closing Cornell Drive, a major thoroughfare that runs through Jackson Park, to create a campus-like setting for the presidential center. That is likely to draw fire from thousands of drivers who each day use Cornell, which links South Lake Shore Drive, Stony Island Boulevard and the Chicago Skyway. …

    “Draw fire” is a really bad phrase to use in talking about the South Side.

      1. allan

        … To its south would be the forum, which will house an auditorium, restaurant and public garden, and the library, which will contain a trove of documents, emails, photos and artifacts from Obama’s eight years in office. …

        There will be special display cases devoted to the card check card that never got checked,
        the comfortable walking shoes never worn in Wisconsin,
        and the Hellfire missile that he graciously decided not to use on his daughters’ suitors.

      1. OpenThePodBayDoorsHAL

        America is full of ultra-capable professionals and visionary thinkers, hard workers with strategic acumen and the skills to propagate change and enthusiasm. And we end up with this ^ as our choice for national leader? Or an orange-haired borderline-deranged TV showman? What in the actual hell is wrong with us

  20. MyLessThanPrimeBeef

    Stray Cat Brings Her Babies To Campers Who Fed Them Bored Panda

    One elite takes your job away.

    Then another one comes to give you food. For family, and not for pride, you bring your babies to this elite, who may be a camper or maybe not, for your kids might otherwise starve. There is no shame in that.

    Unlike the camper, this elite might say, ‘Can I count on your vote?”

    I think you have to make sure your kids live.

    1. ambrit

      When do we begin to kneel before one or the other “elite” and pledge to serve them faithfully in exchange for the family being fed? (And that’s for the 10%, the “enablers!”)
      The Ancient Greeks once had a variety of Democracy. Then it disappeared and the olde style masters and slaves social system regained dominance. It can happen again.

    1. MyLessThanPrimeBeef

      Sanders superdelegates.

      This is a good case of ‘we don’t believe in superdelegates, but if that is the system we have now, we will play under the rules we agree to.”

      For example, if H1B or H2B workers are legal, permissible under the current system, even though you want to reform it, there are times, in order to stay competitive, you have to hire them….That is pretty much the case for everyone, except for infallible people who walk among us.

  21. alex morfesis

    Puerto Rico crosses the rubicon and moves to title 3(chapter 9 style) reorganization…ambac is flipping out and the ones who pushed are now attempting to claim they were only kidding with the lawsuits and would have gladly taken the deal at 800 million per year…this will get interesting…

    and will this trigger further isda event issues as it did last year

    this should keep the liveries awake with the lights on for the next few nites

    hopefully candidate clouseau (& newly to be crowned prince) did not get so pummeled on tv by madame strangelove as to send further shivers into the markets for tomorrow…

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