Sen. Elizabeth Warren advocates for new Glass-Steagall on CNBC’s Squawk Box

Video

Senator Elizabeth Warren is advocating simply for regulations that were around when banks were not TBTF. Glass-Steagall was in place when Bear Sterns and Lehman and other banks were still alive and seemingly invincible so I don’t see why CNBC anchors are so against it. None of their reasons are: it’s bad for business or banks. Instead, it’s arguments against the process of legislating or saying this alone won’t solve the problem.

Glass-Steagall simply makes it so that instead of an executive being able to say fork over those deposits! to a consumer banking division head, they have to actually make compete to invest cash from many consumer banks that are independent of investment banks. The simple argument for Glass-Steagall is that the purpose of an investment bank does not track with that of a consumer bank. So let them compete for consumer bank investment dollars in a market as opposed to command them in a closed supply chain. It won’t say stop a future financial crisis all on it’s own.

For the record: former liberal representative Barney Frank and primary sponsor of Dodd-Frank is opposed to Glass-Steagall proposal by Senators Warren and John McCain and says so on CNBC this past Monday. He argues that Glass-Steagall is only banks and much of the damage that occurred in 2007 happened outside of banks (see AIG, Bear Sterns, Lehman and derivatives trading). He makes the good point: securities were designed so a lender didn’t have to worry about not getting repaid so bad loans could be bundled and sold off the books to suckers. But he also makes the point: Congress has underfunded Dodd-Frank implementation which has prevented these safe guards.

I think Frank is off on this because Glass-Steagall would help to make failed banks easier to wind down (consumer or investment) and make consumer banking a safer bet for consumers in general. It isn’t to prevent failures, it would make them manageable. The constant undercurrent in these CNBC conversations is: this wouldn’t “stop” bank failures or TBTF. I think it would help mitigate some of the problem by making bank failures manageable by shrinking their conflicts of interest, simplifying their creditor relationships and is worth passing. With regards to AIG, I would hope that a Glass-Steagall type law would declare that underwriting and issuing credit default swaps is an investment bank activity and should require AIG to spin off a wholly separate investment bank, just like a bank would have to under Glass-Steagall.

Teens stop abductions in Lancaster, Pa

Video

 

The neighborhood is something of a maze; many of its streets are cul-de-sacs.

Boggs got close enough to the car to see a little girl inside. Garcia was nearby.

The driver looked at Boggs and Garcia, then stopped the car at Gable Park and Betz Farm Road and pushed the girl out of the car. The driver then drove off, Boggs said.

Boggs said he didn’t see where the car went.

“She runs to my arms and said, ‘I need to see my mommy,’ ” Boggs said.

Boggs scooped the girl onto his shoulders and began riding the bike toward home, but then decided that wasn’t safe, so he carried her and walked back while Garcia pedaled along, guiding the bike Boggs had been using.

Back at Lancaster Arms, when Boggs and Garcia arrived with the girl, someone summoned a firefighter or law enforcement officer.

Boggs said the girl was reluctant to leave him and go to the official.

“She didn’t want to leave me because she thought they were going to do something to her. I said, ‘No, it’s OK,’ ” he said.

Police said later that the abductor took the little girl for ice cream, and that there were indications of an assault.

Boggs met the girl’s family Thursday evening, after he told police his story.

The girl’s family members “were just saying that I was a hero, that I was a guardian angel and that it was amazing that I was there and was able to find the girl,” he said.

Boggs doesn’t see himself as a hero.

“I’m just a normal person who did a thing that anybody else would do,” he said.

He described himself as a typical kid.

He plays football, basketball and track (he runs the 100- and 200-meter and the 400-meter relay, and does the high and long jump).

He likes sneakers, and if his hopes of being a professional athlete don’t pan out, he’d like to be a clothing or sneaker designer. Or maybe work in the culinary arts.

via Lancaster teen Temar Boggs hailed as a hero in 5-year-old’s abduction – News

Fatal stabbing, stoning and quartering at soccer game.

Standard

mexico bikini models sports basketball
Police say enraged spectators invaded a football field, stoned the referee to death and quartered his body after he stabbed a player to death.

Brazilian fans kill, behead referee who killed player – Soccer – SI.com.

More details:

A 20-year-old referee was quartered and beheaded by spectators after he fatally stabbed a player during an amateur match in northeast Brazil. The horrifying and gruesome series of events began when the 31-year-old player, Josenir dos Santos Abreu, got into a physical altercation with referee Otavio Jordao da Silva, who then stabbed Dos Santos with a knife he had on him.

According to the AP, a statement from the state of Maranhao’s public safety department said that the player’s friends and relatives watching the stands charged the pitch, where they stoned the referee to death and then quartered his body. From there, the situation managed to get even more twisted.

Not the app for that

Video


Professional Photo-journalism is not “anyone can do it with anything” type skill. Camera on iOS is not the app for that.
Most people’s pictures suck. I am one of those most people. Like Gruber pointed out, they should hire more photogs or increase their travel budget and get them to Turkey, Syria. Instead a few of the newspapers (and maybe it’s the boston globe) will be the “photo” papers, especially since Time/Life folded Life into a nothing version of itself. Great Photojournalism is still breathtaking. It’s why people get photogs instead of snapping their iPhone for family portraits. They know how to do it.

iPhoto and Camera are great for regular jerks like me snapping away at a drunken BBQ or road trip. And they are great for my photos. They are not great for journalists to cover a story and take pictures for that story as well. It takes real knowledge and practice to do what these photogs can do. The author writing the cover story most often can’t. Especially while they are busy reporting on that cover story.

Don’t believe me? Take a look at John H White’s work.

Still don’t believe me? Take a look at the cover of the Chicago Sun-Times illustrated by reporters with iPhones vs. the Chicago Tribune cover by photo-journalist photos the day after the Blackhawks won the Stanley Cup.

Lawsuit & complaint’s against Paula Deen & her brand is about more than a word

Standard
Matt Lauer interviews Paula Deen

“I is what I is and I’m not changing”

This is not about some sh*t Paula Deen did years ago or in private.

The premise that the allegations against Paula Deen regard private behavior and occasional usage of racial slurs under some duress has been accepted by pundits to argue whether or not the Food Network should keep her. This premise is false. Deen is being sued for promoting and participating in creating a hostile workplace. These incidents at Paula Deen’s restaurants and banquet halls did not occur decades ago. We’re talking 2005 to 2010! More former employees are being enabled by Lisa Jackson’s lawsuit v. Deen et al.:

Now another former employee, Renee Mincey McDonald, has come forward and claimed to the National Enquirer that she regularly heard Deen use the N-word during the years 1998-2003 when she worked as a waitress at Deen’s ‘Lady & Sons’ restaurant in Savannah, Ga.
According to the magazine’s report, McDonald said black staff members were ‘treated like animals,’ while Deen would also ‘refer to homosexuals as f******.’

‘N***** was Paul’s favorite word – she used it all the time! I’ve heard Paula specifically say she “did not want any n***** working in front of the house as hostesses, waiters or bussers,”’ McDonald told the National Enquirer.
‘She only wanted them working in the back of the restaurant where the patrons couldn’t see them.’

Not just the “n-word”

The complaints allege a workplace environment, fraught with sexual harassment, physical abuse to the level of battery, intimidation and racism. I wish I would stop seeing only black pundits address this as if she just recounted a Chris Rock joke to an employee one time at a happy hour and it’s insensitive language. If you think it’s just a racist comment or two, read the complaint LISA T. JACKSON v. Paula Deen et al. over at ATLaw, and Paula Deen’s deposition in this case. She ran an awful workplace for everyone!

There are many uninformed apologists, like Bill Maher, who switches to Tea Bagger vernacular and says it’s the “Liberal PC Police” who are coming after Deen for saying the “n-word” and we should worry about other racists like Sarah Palin, or Donald Trump. I’m not familiar with the officers in that precinct. Well, today I’ve been self-deputized into the “Liberal Do Some Actual F*cking Research Police” Department. This Paula Deen fiasco is one of those cases where what’s being widely reported doesn’t scratch the surface. Here are some quick notes on the suit from ATLaw Blog, (bold is from me):

The lawyer for celebrity restaurateur Paula Deen and her business enterprise said Monday afternoon that charges in an ex-employee’s suitincluding claims that Deen’s brother subjected the plaintiff and others to misogyny, racism and anti-Semitism—are false.

[…]

For instance, Jackson claims a top company accountant revoked her bonus because she divorced and that he also made derogatory comments about females.

The accountant , who was in control of compensation for the corporate enterprise, stated in Ms. Jackson’s presence, that “‘women are stupid because they think they can work and have babies and get everything done,’” Jackson’s complaint states.

[…]

The complaint also details scenarios involving Deen and Hiers, such as Jackson’s appointment to replace another general manager who “was allegedly sleeping with servers, a matter disregarded by Bubba Hiers.”

“In a meeting with that general manager and Ms. Jackson, Paula Deen terminated that general manager and stated to Bubba Hiers, ‘if you think I have worked this hard to lose everything because of a piece of p[***]y, you better think again.’ Paula Deen continued, ‘and now I am going to do something I have never done. I am going to put a woman in a man’s job,’” the suit states.

Jackson alleges that her ability to make the restaurant turn a profit in six months was repeatedly derided by male managers. The plaintiff also claims she was called “my little Jew girl” by Hiers.

Jackson also alleges in her suit that Hiers kissed her and spit on her, was physically and verbally abusive to the staff, viewed pornography in his office and on kitchen computers in view of employees and took cash from the restaurant’s receipts—as much as $26,000 per month.

There’s so much more.

A hostile workplace environment lawsuit is Not “Extortion” or a “Shakedown”

Workplace harassment complaints are not “extortion” as Paula Deen’s son will soon find out and they aren’t “shakedowns” like this fuckery in the HuffPo happily argued on Deen’s behalf. Instead of taking a celebrity’s word for it, realize that being able to make a lot of money doesn’t make a person more right. Jackson, while working for Deen, complained to Deen about the awful environment, helped write an employee handbook for the Deen family of companies. She tried to get Deen to resolve these issues. Instead, Lisa Jackson was often made responsible for cleaning up .

Who the hell wouldn’t just settle?

Deen would have been smart to settle out of court. It would have cost her way less in cash to Jackson and she would still have her food empire in place. It’s obvious her brother was a train wreck, and her workplace was a harassment suit waiting to happen. Deen enabled Hier at every turn as opposed to removing him from the employees he terrorized by firing him. Worse yet, it seems she doesn’t understand what entails harassment. A hint: you don’t have to be the target of harassment to be a victim of harassment. Jackson testified she was so physically and emotionally beaten down by her workplace that her doctor recommended hospitalization. No way Deen and Hier (as a business) shouldn’t have just paid her ASAP.

Rev. Jesse Jackson is not there to help Deen make amends with Lisa Jackson or us. He’s there to “redeem” Paula Deen.

If I hear Paula Deen apologizing to “whomever she may have hurt” for saying the “n-word”, which is “nigger”, one more time I’m gonna explode…or just sit here and be angry. Probably the latter. Go look at Tim Hardaway, who after falling from grace after homophobic comments, actually educated himself and actually learned about his bigotry and grew past it to be one of the first NBA greats to support Jason Collins on coming out. That’s real penance and it didn’t take Jesse Jackson to do it. Compare that to Paula Deen’s “I is what I is.” She doesn’t want to change.

I don’t care about her holding a presser or another apology with (Jesse) Jackson in tow. Her remaining sponsors, and future business partners do. There are people who worked for Deen’s companies that deserve apologies. Otherwise, this is awful, personal stuff that isn’t for us to decide when she should be forgiven.

Deen will probably be fine. Lighter in the pockets, but fine.

Her book is a pre-release best-seller on Amazon passing the actually good Game Of Thrones. Thing is, like Imus, Limbaugh, Mel Gibson, Michael Richards and other celebrities who have been exposed themselves to be capable of being virulently bigoted: she’ll be ok in the end. They are distraught when they are caught because they believe they’ve done nothing wrong and are being unfairly persecuted because someone who they have demonstrably discriminated against has it “out” for them. Not because they can’t find a way to recover. In the face of all these accusations, remember Deen’s final declaration to Matt Lauer in her non-apology interview: “I is what I is and I’m not changing”.

“Blogger, please! Why do you even care?”

What I really hope is Paula Deen and her sons really seek to reform the businesses they continue to run and make them EEO compliant workplaces. I don’t expect someone that grew up in the segregated south and in a household engaged in bigotry to be free of that world view. But I do expect the leader of a multi-million dollar business to understand that her workplace must be held to a higher standard. I also expect that businessperson to understand that changing their company may require some real change within themselves before they can seek some forgiveness. Fact of the matter is, blacks, women, gays, jews, latinos and people that care about them still work for Deen and her family’s establishments. They still need to make rent and pay bills. They deserve to be able to make a living with dignity and without being subjected to abuse and harassment. It is a civil rights issue.

If Deen can’t make that change, then she deserves to lose every penny twice over.

“She’s lucky”

Video

“Do you think it was fair, what they got? They did something stupid, but I don’t know. I’m not blaming the girl, but if you’re a 16-year-old and you’re drunk like that, your parents should teach you: Don’t take drinks from other people. She’s 16, why was she that drunk where she doesn’t remember? It could have been much worse. She’s lucky. Obviously, I don’t know, maybe she wasn’t a virgin, but she shouldn’t have put herself in that position, unless they slipped her something, then that’s different.”

Serena Williams on the Steubenville High School Rape Victim

Update: discussion of Serena’s comments on “The View”:

Serena Williams apologized for her comments.

A better pick for McCain in 2008…

Video

I’ve always felt politically, Christine Todd Whitman would have been McCain’s best pick

Christine Todd Whitman in my opinion would have been a strong pick for McCain.

I’m no Nate Silver, but I just think it would have protected his Maverick brand, still put a woman executive with experience on the ticket and he would have had a competent Republican to go after moderates. Not strong as in I would have voted for them.

Oh yea: she wouldn’t have made his whole campaign the biggest punchline of the year.