Saturday, October 29, 2011


New Police Drone Near Houston Could Carry Weapons
...The Montgomery County Sheriff's Office in Conroe paid $300,000 in federal homeland security grant money and Friday it received the ShadowHawk unmanned helicopter made by Vanguard Defense Industries of Spring.

A laptop computer is used to control the 50-pound unmanned chopper, and a game-like console is used to aim and zoom a powerful camera and infrared heat-seeking device mounted on the front.

"To be in on the ground floor of this is pretty exciting for us here in Montgomery County," Sheriff Tommy Gage said.

He said the Unmanned Aerial Vehicle (UAV) could be used in hunting criminals who are running from police or assessing a scene where SWAT team officers are facing an active shooter.

Gage said it will also be deployed for criminal investigations such as drug shipments.

"We're not going to use it to be invading somebody's privacy. It'll be used for situations we have with criminals," Gage said....

Officers Jeer at Arraignment of 16 Colleagues in Ticket-Fixing Investigation
A three-year investigation into the police’s habit of fixing traffic and parking tickets in the Bronx ended in the unsealing of indictments on Friday and a stunning display of vitriol by hundreds of off-duty officers, who converged on the courthouse to applaud their accused colleagues and denounce their prosecution....

State treasurer of MA absolutely shreds RomneyCare, which “has nearly bankrupted the state” and is surviving solely because of federal aid
...Cahill said the law is being sustained only with the help of federal aid, which he suggested that the Obama administration is funneling to Massachusetts to help the president make the case for a similar plan in Congress… “…I would argue that we’re being propped up so that the federal government and the Obama administration can drive it through” Congress.

Commonwealth Connector, the independent state agency established to help residents find the health insurance, has “totally failed,” to create competition and connect people with affordable insurance, Cahill said, pointing out that 68 percent of the residents it serves receive subsidized care.

“We haven’t done anything about driving down costs,” Cahill said. “We haven’t helped small business. We haven’t changed the way we pay for health care and the way we deliver it"...

Why Economic Models Are Always Wrong
...Carter had initially used arbitrary parameters in his perfect model to generate perfect data, but now, in order to assess his model in a realistic way, he threw those parameters out and used standard calibration techniques to match his perfect model to his perfect data. It was supposed to be a formality--he assumed, reasonably, that the process would simply produce the same parameters that had been used to produce the data in the first place. But it didn't. It turned out that there were many different sets of parameters that seemed to fit the historical data. And that made sense, he realized--given a mathematical expression with many terms and parameters in it, and thus many different ways to add up to the same single result, you'd expect there to be different ways to tweak the parameters so that they can produce similar sets of data over some limited time period.

The problem, of course, is that while these different versions of the model might all match the historical data, they would in general generate different predictions going forward--and sure enough, his calibrated model produced terrible predictions compared to the "reality" originally generated by the perfect model. Calibration--a standard procedure used by all modelers in all fields, including finance--had rendered a perfect model seriously flawed. Though taken aback, he continued his study, and found that having even tiny flaws in the model or the historical data made the situation far worse. "As far as I can tell, you'd have exactly the same situation with any model that has to be calibrated," says Carter....
The Government is CONSTANTLY Pestering Google For Your Personal Information
...Google released its "transparency report" today and America ranks ahead of all other nations when it comes to asking the search giant for your personal info. In fact, U.S. officials ask for three and a half times more data than India the nation that ranks second in government requests for user data.
U.S. Government officials requested personal data 5,590 time for criminal investigations during the first half of 2011–an increase of 29 percent over the last six months of 2010. And Google reports that it complied in whole or in part with 93 percent of these requests....
And the below differs from Enron's "we control it but we don't technically own it so its debt isn't our debt" games, the ones proving how corrupt capitalism is, exactly how?

Guaranteed to Fail: Fannie, Freddie, and the Debacle of Mortgage Finance (long PDF)
...By far, the most important legislation affecting Fannie Mae was its conversion into a private company in 1968. It was primarily for accounting purposes. The Johnson administration wanted Fannie Mae privatized, so as to remove its debt from the federal government's books, thereby reducing the size of the national debt. In addition, a change in federal budgeting procedures at the time would have counted Fannie Mae's net purchases of mortgages as current government expenditures, which would have meant that those net purchases would have added to recorded federal budget deficits—something that any presidential administration would want to avoid doing during its own term.

The privatization meant that Fannie Mae was spun off to the private sector and became a publicly traded company, with its shares listed on the New York Stock Exchange (NYSE). However, Fannie Mae retained its federal charter and the special status and privileges that went with the charter. Fannie Mae also had its own special regulator: the Department of Housing and Urban Development (HUD), which had been created as a cabinet-level department in 1965 and retained some regulatory powers over Fannie Mae. Another prominent indicator of the specialness of Fannie Mae, despite its apparent structure as just another private (publicly traded) company, was the power of the President of the United States to appoint five board members to the Fannie Mae board of directors. No other company that was listed on the NYSE had presidential appointees on its board....


Godzilla Hedge Fund Fannie Mae Was ‘Guaranteed to Fail’: Books
For Fannie Mae and Freddie Mac, the figure to remember is 79.9 -- the percent ownership that the U.S. Treasury took in each when it seized control in 2008. If the stakes were 80 percent, the mortgage companies would land on the federal budget, as we’re reminded in “Guaranteed to Fail,” a valuable book on how two quasi-public companies became “the world’s largest and most leveraged hedge funds.”

Kiss all the political posturing about the U.S. public debt ceiling goodbye: With Fannie Mae and Freddie Mac’s debts tacked on, the total would lurch to $15.84 trillion, well over the current limit of $14.29 trillion, the authors say....
2 teachers union lobbyists teach for a day to qualify for hefty pensions
Two lobbyists with no prior teaching experience were allowed to count their years as union employees toward a state teacher pension once they served a single day of subbing in 2007, a Tribune/WGN-TV investigation has found....

...Preckwinkle's one day of subbing qualified him to become a participant in the state teachers pension fund, allowing him to pick up 16 years of previous union work and nearly five more years since he joined. He's 59, and at age 60 he'll be eligible for a state pension based on the four-highest consecutive years of his last 10 years of work.

His paycheck fluctuates as a union lobbyist, but pension records show his earnings in the last school year were at least $245,000. Based on his salary history so far, he could earn a pension of about $108,000 a year, more than double what the average teacher receives.

His pay for one day as a substitute was $93, according to records of the Illinois Teachers Retirement System....
Love the divine capitalization of "Authority".

WHOOPS! Vatican Lets Slip Plans For One World Government
...A supranational Authority of this kind should have a realistic structure and be set up gradually. It should be favourable to the existence of efficient and effective monetary and financial systems; that is, free and stable markets overseen by a suitable legal framework, well-functioning in support of sustainable development and social progress of all, and inspired by the values of charity and truth. It is a matter of an Authority with a global reach that cannot be imposed by force, coercion or violence, but should be the outcome of a free and shared agreement and a reflection of the permanent and historic needs of the world common good....
The Sins of the Flash
...That's right — code on a remote computer somewhere decides whether or not random web sites can spy on you. If someone changes that code, accidentally or deliberately, your own computer has just been turned into a bug, without any need for them to attack your machine.
From a technical perspective, it's simply wrong for a design to outsource a critical access control decision to a third party. My computer should decide what sites can turn on my camera and microphone, not one of Adobe's servers.
The policy side is even worse. What if the FBI wanted to bug you? Could they get a court order compelling Adobe to make an access control decision that would turn on your microphone?...

Sunday, October 23, 2011


Godzilla Hedge Fund Fannie Mae Was ‘Guaranteed to Fail’: Books
A number, like a picture, can be worth 1,000 words. In England, 1066 means the Norman Conquest. The world over, 3.14159 screams pi.

For Fannie Mae and Freddie Mac, the figure to remember is 79.9 -- the percent ownership that the U.S. Treasury took in each when it seized control in 2008. If the stakes were 80 percent, the mortgage companies would land on the federal budget, as we’re reminded in “Guaranteed to Fail,” a valuable book on how two quasi-public companies became “the world’s largest and most leveraged hedge funds.”

Kiss all the political posturing about the U.S. public debt ceiling goodbye: With Fannie Mae and Freddie Mac’s debts tacked on, the total would lurch to $15.84 trillion, well over the current limit of $14.29 trillion, the authors say....

Fannie Freddie Lawsuit and Risk Arbitrage
...To understand how casual Fannie and Freddie were about credit risk, consider the two types of activity they engage in. One, they buy and pool mortgages, issuing securities backed by these pools, a process called securitization. They’ve been doing this longer and on greater scale than anyone else—by comparison Wall Street was a newcomer to the business.

Two, they buy such securities, whether issued by themselves or others. The lawsuits just filed concern this second type of activity, the purchase of readymade mortgage securities. The main accusation is that materials pertaining to certain securities the defendants sold from 2005 to 2007 contained wrong or deficient information, “unbeknownst” to Fannie and Freddie.

At the time they bought these securities, Fannie and Freddie were competing furiously with the same banks for mortgages to securitize—-and earn fees on. They were buying mortgages as they had for decades, but now they faced growing pressure from banks seeking lucrative securitization business. This led to all-around lowering of underwriting standards and the rise of higher-risk mortgages, the race to the bottom described in Guaranteed to Fail.

Being both suppliers and buyers in the mortgage security market on a gigantic scale, Fannie and Freddie were uniquely positioned. Because they bought mortgages to securitize, they too were lowering standards and taking higher risks. For the reality underlying the securities to be “unbeknownst” to them, they had to willfully avoid knowing it. Even if they did not do the analysis themselves, they could have easily asked for third-party reports—-which existed at the time and are presented as evidence in the cases. That the GSEs were complicit does not exonerate the banks’ shoddy work, but it does show how we got to the current mess.

Fannie and Freddie appeared to mint money because government backing gave them easy and cheap capital, plus they had special tax breaks and low capital requirements. The government guarantee was initially explicit—they were was created as federal bureaucracies, as the “F” in their names indicates. Then it became implicit until the 2008 crisis made it explicit again. It was always assumed. Their extraordinarily low capital requirement meant GSEs leveraged more than adventurous hedge funds.
Lobbying and public relations made sure they retained the full panoply of special privileges. This was managing the political risk, which they appear to have done superbly and still do—-note their victim status in the lawsuits and mainstream media coverage thereof. Ensuring political protection meant that managing credit risk was less crucial....

Should Americans Support the Tea Party or Occupy Wall Street?
...The subprime crisis was designed in Washington, not New York. The FHA discouraged down payments (those old fashioned “savings”), pushing them from their traditional level of 20% down to 3% - and at the start of 2008 to 0%. Everyone, regardless of whether they can afford it, should own a home! Don’t save; speculate in the hope that prices will rise!

Government sponsored enterprises Fannie and Freddie “securitized” home loans under congressional mandates to direct more funds to lower incomes. In 1996, the Department of Housing and Urban Development directed Fannie and Freddie to target 42% of financing to borrowers with incomes below the median in their areas, going to 50% in 2000 and 52% in 2005. Such funding was directed to financing even mobile homes, a move lauded by Rep. Barney Frank as “one of the most important things to happen to make home ownership affordable to people who might otherwise be shut out of the market.” Also, “special affordable” loans were created, with HUD directing Fannie and Freddie to target 12% of financing to borrowers earning less than 60% of the median income, a percentage that rose to 20% in 2000, then 22% in 2005. That percentage was scheduled to go to 28% in 2008....


Wall Street Did It?
...But based on the number of toxic loans in the system in 2008, the government was responsible for not just a simple majority, but more than two-thirds. It's quantifiable — 71% to be exact (see chart). And the remaining 29% of private-label junk was mostly attributable to Countrywide Financial, which was under the heel of HUD and its "fair-lending" edicts....
The 1 percent: D.C. metro area the wealthiest in the nation
...Federal employees whose compensation averages more than $126,000 and the nation’s greatest concentration of lawyers helped Washington edge out San Jose as the wealthiest U.S. metropolitan area, government data show.

The U.S. capital has swapped top spots with Silicon Valley, according to recent Census Bureau figures, with the typical household in the Washington metro area earning $84,523 last year. The national median income for 2010 was $50,046.

Total compensation for federal workers, including health care and other benefits, last year averaged $126,369, compared with $122,697 in 2009, according to Bloomberg News calculations of Commerce Department data. There were 170,467 federal employees in the District of Columbia as of June. The Washington area includes the District of Columbia, parts of Northern Virginia, eastern Maryland and eastern West Virginia....

BBC: Is the US Declaration of Independence illegal?
...The Declaration of Independence was not only illegal, but actually treasonable. There is no legal principle then or now to allow a group of citizens to establish their own laws because they want to. What if Texas decided today it wanted to secede from the Union?

Lincoln made the case against secession and he was right. The Declaration of Independence itself, in the absence of any recognised legal basis, had to appeal to "natural law", an undefined concept, and to "self-evident truths", that is to say truths for which no evidence could be provided.

The grievances listed in the Declaration were too trivial to justify secession. The main one - no taxation without representation - was no more than a wish on the part of the colonists, to avoid paying for the expense of protecting them against the French during seven years of arduous war and conflict....
Oakland Occupy residents struggle with internal security issues
...Many camp residents, however, have celebrated their growing ability to deal with serious conflict on their own terms, and without the help of police or county medical staff members. ...

Occupy Baltimore to sex assault victims: We support you in reporting the abuse, but we don’t encourage the involvement of police in our community
...Efforts by the Occupy Baltimore protest group to evolve into a self-contained, self-governing community have erupted into controversy with the distribution of a pamphlet that victim advocates and health workers fear discourages victims of sexual assaults from contacting police.

The pamphlet says that members of the protest group who believe they are victims or who suspect sexual abuse “are encouraged to immediately report the incident to the Security Committee,” which will investigate and “supply the abuser with counseling resources.”

The directive also says, in part, “Though we do not encourage the involvement of the police in our community, the survivor has every right, and the support of Occupy Baltimore, to report the abuse to the appropriate authorities.”…

Coming clean on 'dirty DUIs' in Contra Costa County
...A man who once worked for Butler had blown the whistle. He told authorities Butler arranged for men to be arrested for drunk driving at the behest of their ex-wives and their divorce lawyers — and that entrapment was only one of many alleged misdeeds.

Butler, 49, a former police officer, was arrested in February. In addition to setting up at least five DUIs, he sold drugs for law enforcement officers and helped them open and operate a brothel, collecting and delivering the profits, according to prosecutors and a statement Butler gave them after his arrest.

In the March 15 statement obtained by The Times, Butler said his accomplices reasoned that they could shield their illegal businesses because any complaints would be investigated by a state-run narcotics task force, which one of the officers headed.

The alleged crimes implicated three different law enforcement agencies — the San Ramon and Danville police departments and the narcotics task force — and took place in Contra Costa County, a collection of mostly middle-class communities that stretch from the East Bay shoreline opposite San Francisco to upscale suburbs inland.

Jewett called the scandal a "sordid drama" that overwhelmed the resources of the county and raised potential conflicts for police departments being asked to investigate their own.

In May, the FBI took over the probe, interviewing Dutcher and other ex-husbands arrested on suspicion of drunk driving. A federal grand jury indicted Butler and two of the officers in August and September. The charges included drug dealing, running a prostitution business and illegal possession of a weapon.

More indictments are expected. A third officer, implicated by Butler in the DUIs, faces state charges of accepting bribes to make arrests.

Stunned prosecutors combed through pending criminal cases and eventually dismissed charges in at least 20 DUI and vice crimes, tainted by the involvement of the accused officers. Two of them had once worked with Butler on the police force of the East Bay city of Antioch....

Drug Tests for Buying a Gun?
This idea would now seem to be endorsed by the Brady Campaign, as there is a White House petition for it as well. You can see the kind of juice the Brady Campaign has by the numbers appearing there. I’m wondering what other fundamental constitutional right requires you to pee pee in a cup before you can exercise it. It’s certainly interesting to see what new and strange ideas the Brady Campaign is supporting....
Celebrated redistributionists discover healthy respect for private property
...Occupy Wall Street protesters said yesterday that packs of brazen crooks within their ranks have been robbing their fellow demonstrators blind, making off with pricey cameras, phones and laptops — and even a hefty bundle of donated cash and food.

“Stealing is our biggest problem at the moment,” said Nan Terrie, 18, a kitchen and legal-team volunteer from Fort Lauderdale.

“I had my Mac stolen — that was like $5,500. Every night, something else is gone. Last night, our entire [kitchen] budget for the day was stolen, so the first thing I had to do was . . . get the message out to our supporters that we needed food!”

Crafty cat burglars sneaked into the makeshift kitchen at Zuccotti Park overnight and swiped as much as $2,500 in donated greenbacks from right under the noses of volunteers who’d fallen asleep after a long day whipping up meals for the hundreds of hungry protesters, the volunteers said....

House subcommittee chair: Is Obama admin. already collecting private health information?
The Obama administration adamantly denies it, but rumors are circulating in Washington that his Department of Health and Human Services is already collecting Americans’ private health information, or at least preparing itself to do so.

Rep. Denny Rehberg, the chairman of the House appropriations subcommittee on Labor, Health & Human Services and Education formalized the rumors by asking about them in a letter to HHS Secretary Kathleen Sebelius on Thursday.

“Specifically, I have been told that HHS has already procured a contractor to build a database and that this contractor has already taken steps to acquire personal health care data from a large claims database,” Rehberg wrote. “I would like to know if these reports are, in fact, true. If so, it would represent an egregious violation of the privacy rights that the American public rightfully demands.”...

Will Romney hire Obama’s climate-change guru Holdren?
...In the development of greenhouse gas policy, Romney Administration officials have elicited input from environmental and economic policy experts. These include John Holden [sic], professor of environmental policy at Harvard University and chair of the National Commission on Energy Policy and Billy Pizer, and economist at Resources for the Future, an environmental policy think-tank based in Washington DC....


Oh, Super: Romney Consulted With Obama Mass Sterilization Expert and Science Czar John Holdren
...Barack Hussein Obama has clotted the executive branch with unaccountable “czars” — unsavory characters too extreme to be confirmed for cabinet positions even by a hyper-partisan, Democrat-controlled Senate. Among the most alarming of these malevolent lunatics is Science Czar John Holdren, a participant in ClimateGate who has advocated de-developing America and putting sterilants in the public water supply…

…Holdren has also spoken in favor of forced abortions, confiscation of babies, targeted as well as mass involuntary sterilization, bureaucratic regulation of family size, and global authoritarian government. If there is a line between ultra-left ideologue and evil maniac, Holdren clearly crosses it. No one to the right of Pol Pot would want John Holdren advising our leaders.

This brings us onto still more common ground between Barack Obama and Willard “Mitt” Romney. From an official memo released by Willard’s office when he was Governor of Taxachusetts, announcing “Strict New Clean Air Regulations“ [i.e., Cap and Trade]…

…Sound familiar? Obama wanted to impose Cap & Trade nationwide, but it would so obviously cripple the economy that he couldn’t get it through a Democrat Senate that was radical enough to pass ObamaCare — the national version of RomneyCare.

Now to the even scarier part: In the development of greenhouse gas policy, Romney Administration officials have elicited input from environmental and economic policy experts. These include John Holden [sic], professor of environmental policy at Harvard University…

Of course, that was back in 2005. By now everyone knows that global warming is a hoax, and CO2 is harmless. Everyone except Mittens, that is. He continues to proclaim that economic activity makes it be too hot out....

Sunday, October 16, 2011


Drug Tests for Buying a Gun?
This idea would now seem to be endorsed by the Brady Campaign, as there is a White House petition for it as well. You can see the kind of juice the Brady Campaign has by the numbers appearing there. I’m wondering what other fundamental constitutional right requires you to pee pee in a cup before you can exercise it. It’s certainly interesting to see what new and strange ideas the Brady Campaign is supporting....

Will Romney hire Obama’s climate-change guru Holdren?
...In the development of greenhouse gas policy, Romney Administration officials have elicited input from environmental and economic policy experts. These include John Holden [sic], professor of environmental policy at Harvard University and chair of the National Commission on Energy Policy and Billy Pizer, and economist at Resources for the Future, an environmental policy think-tank based in Washington DC....


Oh, Super: Romney Consulted With Obama Mass Sterilization Expert and Science Czar John Holdren
...Barack Hussein Obama has clotted the executive branch with unaccountable “czars” — unsavory characters too extreme to be confirmed for cabinet positions even by a hyper-partisan, Democrat-controlled Senate. Among the most alarming of these malevolent lunatics is Science Czar John Holdren, a participant in ClimateGate who has advocated de-developing America and putting sterilants in the public water supply…

…Holdren has also spoken in favor of forced abortions, confiscation of babies, targeted as well as mass involuntary sterilization, bureaucratic regulation of family size, and global authoritarian government. If there is a line between ultra-left ideologue and evil maniac, Holdren clearly crosses it. No one to the right of Pol Pot would want John Holdren advising our leaders.

This brings us onto still more common ground between Barack Obama and Willard “Mitt” Romney. From an official memo released by Willard’s office when he was Governor of Taxachusetts, announcing “Strict New Clean Air Regulations“ [i.e., Cap and Trade]…

…Sound familiar? Obama wanted to impose Cap & Trade nationwide, but it would so obviously cripple the economy that he couldn’t get it through a Democrat Senate that was radical enough to pass ObamaCare — the national version of RomneyCare.

Now to the even scarier part: In the development of greenhouse gas policy, Romney Administration officials have elicited input from environmental and economic policy experts. These include John Holden [sic], professor of environmental policy at Harvard University…

Of course, that was back in 2005. By now everyone knows that global warming is a hoax, and CO2 is harmless. Everyone except Mittens, that is. He continues to proclaim that economic activity makes it be too hot out....

House subcommittee chair: Is Obama admin. already collecting private health information?
The Obama administration adamantly denies it, but rumors are circulating in Washington that his Department of Health and Human Services is already collecting Americans’ private health information, or at least preparing itself to do so.

Rep. Denny Rehberg, the chairman of the House appropriations subcommittee on Labor, Health & Human Services and Education formalized the rumors by asking about them in a letter to HHS Secretary Kathleen Sebelius on Thursday.

“Specifically, I have been told that HHS has already procured a contractor to build a database and that this contractor has already taken steps to acquire personal health care data from a large claims database,” Rehberg wrote. “I would like to know if these reports are, in fact, true. If so, it would represent an egregious violation of the privacy rights that the American public rightfully demands.”...

Wall Street's Gullible Occupiers
...Beginning in 1992, the government required Fannie Mae and Freddie Mac to direct a substantial portion of their mortgage financing to borrowers who were at or below the median income in their communities. The original legislative quota was 30%. But the Department of Housing and Urban Development was given authority to adjust it, and through the Bill Clinton and George W. Bush administrations HUD raised the quota to 50% by 2000 and 55% by 2007.

It is certainly possible to find prime borrowers among people with incomes below the median. But when more than half of the mortgages Fannie and Freddie were required to buy were required to have that characteristic, these two government-sponsored enterprises had to significantly reduce their underwriting standards.

Fannie and Freddie were not the only government-backed or government-controlled organizations that were enlisted in this process. The Federal Housing Administration was competing with Fannie and Freddie for the same mortgages. And thanks to rules adopted in 1995 under the Community Reinvestment Act, regulated banks as well as savings and loan associations had to make a certain number of loans to borrowers who were at or below 80% of the median income in the areas they served.

Research by Edward Pinto, a former chief credit officer of Fannie Mae (now a colleague of mine at the American Enterprise Institute) has shown that 27 million loans—half of all mortgages in the U.S.—were subprime or otherwise weak by 2008. That is, the loans were made to borrowers with blemished credit, or were loans with no or low down payments, no documentation, or required only interest payments.

Of these, over 70% were held or guaranteed by Fannie and Freddie or some other government agency or government-regulated institution. Thus it is clear where the demand for these deficient mortgages came from....

...Accordingly, by the mid-2000s, investors had begun to notice that securities based on subprime mortgages were producing the high yields, but not showing the large number of defaults, that are usually associated with subprime loans. This triggered strong investor demand for these securities, causing the growth of the first significant private market for MBS based on subprime and other risky mortgages.

By 2008, Mr. Pinto has shown, this market consisted of about 7.8 million subprime loans, somewhat less than one-third of the 27 million that were then outstanding. The private financial sector must certainly share some blame for the financial crisis, but it cannot fairly be accused of causing that crisis when only a small minority of subprime and other risky mortgages outstanding in 2008 were the result of that private activity...

The Truth About Advertising
College know-it-all hippies lead the left hilariously astray.

...Gutting goes on to argue that it is even more insidious for corporations to try to influence "debates over public policy," apparently oblivious to the irony that, under the aegis of the New York Times Co., he is doing just that.

But Gutting's throwaway line about advertising was what got our attention, for it reveals more than we suspect he realizes. For one thing, it reveals that he has fallen short of the assignment the Times gave him, which is to "apply critical thinking." A moment of critical thinking applied to his description of advertising shows it to be nonsense....

...To put it more concisely, the Democrats were counting on the voters to be stupid enough to clamor for Stimulus Jr. because the Democrats had named it "American Jobs Act." But their plan may be undone because the voters are even more stupid and will have forgotten all this a year from now.

We'd venture to say that the opposite is true: Having seen the so-called Recovery Act squander hundreds of billions without producing a recovery, voters are smart enough not to fall for that obvious ploy again.

Another example comes from London's Independent, where NASA global warmist James Hansen complains that, as the paper puts it, "climate sceptics are winning the argument with the public over global warming"...

10 News Investigators: Charges that FDLE covered up faulty DUI machines
VENICE, Florida -- Thousands of people in Florida convicted of DUI may not have been drunk at all. They very well may have been under the allowable blood alcohol limit. The problem may have been law enforcement not calibrating the breathalyzer called the Intoxilyzer 8000.

Now, the 10 News Investigators have uncovered documents and emails that prove the state knew there were problems and didn't do anything to correct it for more than two and half years.

"I agree that drunk driving is wrong. We need to get drunk drivers off the road, but we should not be convicting people of drunk driving with evidence that we know is not reliable," says former prosecutor turned defense attorney Robert Harrison....

Health overhaul law suffers first major casualty
WASHINGTON (AP) -- The Obama administration's signature health overhaul law, under relentless assault by Republicans, has suffered its first major casualty - a long-term care insurance plan.

The program, expected to launch in 2012, had been dogged from the beginning by doubts over its financial solvency....

...But a central design flaw dogged CLASS. Unless large numbers of healthy people willingly sign up during their working years, soaring premiums driven by the needs of disabled beneficiaries would destabilize it, eventually requiring a taxpayer bailout.

After months insisting that could be fixed, Health and Human Services Secretary Kathleen Sebelius finally acknowledged Friday she doesn't see how.

"Despite our best analytical efforts, I do not see a viable path forward for CLASS implementation at this time," Sebelius said in a letter to congressional leaders.

The law required the administration to certify that CLASS would remain financially solvent for 75 years before it could be put into place.

But officials said they discovered they could not make CLASS both affordable and financially solvent while keeping it a voluntary program open to virtually all workers, as the law also required....

We fabricated drug charges against innocent people to meet arrest quotas, former detective testifies
A former NYPD narcotics detective snared in a corruption scandal testified it was common practice to fabricate drug charges against innocent people to meet arrest quotas.

The bombshell testimony from Stephen Anderson is the first public account of the twisted culture behind the false arrests in the Brooklyn South and Queens narc squads, which led to the arrests of eight cops and a massive shakeup.

Anderson, testifying under a cooperation agreement with prosecutors, was busted for planting cocaine, a practice known as "flaking," on four men in a Queens bar in 2008 to help out fellow cop Henry Tavarez, whose buy-and-bust activity had been low.

"Tavarez was ... was worried about getting sent back [to patrol] and, you know, the supervisors getting on his case," he recounted at the corruption trial of Brooklyn South narcotics Detective Jason Arbeeny.

"I had decided to give him [Tavarez] the drugs to help him out so that he could say he had a buy," Anderson testified last week in Brooklyn Supreme Court.

He made clear he wasn't about to pass off the two legit arrests he had made in the bar to Tavarez.

"As a detective, you still have a number to reach while you are in the narcotics division," he said....

Saturday, October 15, 2011

Ezra Klien discovers govt can never successfully fix the economy, draws totally wrong conclusion.
...Perversely, the very size of the package is part of its problem. With something extraordinary that is nevertheless not enough, the economy deteriorates, and the government sees its solutions discredited and its political standing weakened by the worsening economic storm. That keeps it from doing more.

Meanwhile, the opposition’s capacity to do more is arguably even more limited, as it has turned against whatever policies were tried in the first place. Add in the almost inevitable run-up in government debt, which imposes constraints in the eyes of the voters and, in some cases, in the eyes of the markets, and an economy that started by not doing enough is never able to get in front of the crisis.

These sorts of economic crises are, in other words, inherently politically destabilizing, and that makes a sufficient response, at least in a democracy, nearly impossible....

...In general, the policies that are vastly better than whatever you are doing are not politically achievable, and the policies that are politically achievable are not vastly better....

SOLYNDRAGATE: Huge Email Dump Implicates Obama And Rahm In Bankruptcy Scandal
...One email, obtained by the Washington Post, suggests that Obama and/or his chief of staff Rahm Emanuel was actively involved in trying to get Solyndra's loan application approved in time for a September 2009 press conference.

“Ron said this morning that the POTUS definitely wants to do this (or Rahm definitely wants the POTUS to do this?),” one White House staffer told an Obama scheduler on Aug. 17, 2009, referring to Ron Klain, former chief of staff for Vice President Joe Biden.

Steve Spinner, an Obama fundraiser who worked in the DOE loan department, repeatedly pushed the chief loan officer to expedite approval of Solyndra's loan — despite the fact that his wife worked for the law firm representing Solyndra. The firm received at least $2.4 million in fees related to the loan, according to the AP. DOE officials have previously stated that Spinner did not "actively participate" in Solyndra's application.

“How [expletive] hard is this? What is he waiting for? Will we have it by the end of the day?” Spinner wrote on Aug. 28, 2009. “I have OVP [Office of Vice President] and WH [White House] breathing down my neck on this. They are getting itchy to get involved if needed. I don’t want that.”...

Who funds the Climate Alarmists?


The Guardian: Al Gore is doing a disservice to science by overplaying the link between climate change and weather
...The claim that we are "painting more dots on the dice", causing weather events that simply could not have occurred in the absence of human influence on climate, is just plain wrong. Given the paucity of reliable records and bias in climate models, it is quite impossible to say whether an observed event could have happened in a hypothetical pristine climate. Our research focuses on quantifying how risks have changed, which is a much easier proposition, although addressing all the uncertainties still makes working out these "relative risks" a painstaking affair....
Occupy L.A. Speaker: Violence will be Necessary to Achieve Our Goals
...Occupy L.A. Speaker: “One of the speakers said the solution is nonviolent movement. No, my friend. I’ll give you two examples: French Revolution, and Indian so-called Revolution.

Gandhi, Gandhi today is, with respect to all of you, Gandhi today is a tumor that the ruling class is using constantly to mislead us. French Revolution made fundamental transformation. But it was bloody.

India, the result of Gandhi, is 600 million people living in maximum poverty.

So, ultimately, the bourgeosie won’t go without violent means. Revolution! Yes, revolution that is led by the working class.

Long live revolution! Long live socialism!”

Crowd: [Cheers.]...

A very privileged protest: Wearing $300 jeans and from some of the most exclusive schools, the children of the one per cent out for a good time at Occupy Wall Street
...One student, who did not want to be named, admitted she had been sleeping at the protest site with her boyfriend despite living in nearby TriBeCa, a neighbourhood which is home to many of New York's A list celebrities.

While she is not camping out, she studies at Bard College in Manhattan - a private school which charges fees of up to $200,000 for a four-year degree....

...One of the students who joined in, an arts major at trendy Parsons design school in New York, flicked through pictures on her pricey laptop as she sat on the park floor.

Another listened to a speech and chanted along with furious activists while wearing a pair of True Religion jeans - which are marketed on their website at about $300....
District Court Awards One-Time Criminal Defendant $1.7 Million for Malicious Prosecution After EPA Agent Manufactured Evidence — With the Apparent Motive of Out-of-Town Travel to Spend More Time With His Mistress
...One of the more distressing allegations made at trial, involved allegations of Agent Phillips’ sexual, extra-marital affair (and its subsequent “cover up”) with Agent Barnhill. The evidence strongly indicated Agent Phillips deliberately used his investigation and prosecution of Hubert Vidrine to foster, further, facilitate and cloak his extra-marital affair with Agent Barnhill, and perhaps, to exert improper influence over the manner in which she investigated and reported upon this case. Agent Barnhill candidly testified that she and Agent Phillips began a physical, sexual relationship while assigned to this matter, which lasted from approximately 1996 until January or February 2001. Agent Barnhill testified she and Agent Phillips were only physically intimate when working together on the Vidrine case — in other words, they did not meet to pursue their sexual relations on occasions when they were not working the case together. Thus, the case granted the opportunity for those rendez-vous, as well as providing justification for Agent Phillips wife.

During the investigation and prosecution, Agent Barnhill, who was single, lived in South Louisiana; Agent Phillips, who was married, lived in Dallas, Texas with his wife. Prior to and at trial, plaintiffs’ counsel consistently argued Agent Phillips used the Vidrine investigation as a cover, excuse and opportunity to facilitate his illicit affair with Agent Barnhill and to hide the affair from his wife. Plaintiffs consistently argued Keith Phillips manufactured a case, both in law and fact, against Hubert Vidrine, and carefully fed the AUSA and his supervisors only the information which would further that end and perpetuate the case, all to promote access to Agent Barnhill and perpetuate and conceal their illicit affair. Regrettably, the Court agrees with plaintiffs: this inappropriate and unprofessional behavior likely was, at least in part (if not in whole) a motivation for Agent Phillips’ continued pursuit of Hubert Vidrine, without probable cause, and certainly with a complete and total reckless disregard of Hubert Vidrine’s rights....
Biden: Passing Obama’s jobs bill means less rape

Jackson, Jr: Obama should ‘declare a national emergency,’ add jobs with ‘extra-constitutional’ action
Illinois Democratic Rep. Jesse Jackson, Jr. told The Daily Caller on Wednesday that congressional opposition to the American Jobs Act is akin to the Confederate “states in rebellion.”

Jackson called for full government employment of the 15 million unemployed and said that Obama should “declare a national emergency” and take “extra-constitutional” action “administratively” — without the approval of Congress — to tackle unemployment.

“I hope the president continues to exercise extraordinary constitutional means, based on the history of Congresses that have been in rebellion in the past,” Jackson said. “He’s looking administratively for ways to advance the causes of the American people, because this Congress is completely dysfunctional.”...

Sunday, October 09, 2011


Elizabeth Warren and liberalism, twisting the ‘social contract’
...Warren is (as William F. Buckley described Harvard economist John Kenneth Galbraith) a pyromaniac in a field of straw men: She refutes propositions no one asserts. Everyone knows that all striving occurs in a social context, so all attainments are conditioned by their context. This does not, however, entail a collectivist political agenda.

Such an agenda’s premise is that individualism is a chimera, that any individual’s achievements should be considered entirely derivative from society, so the achievements need not be treated as belonging to the individual. Society is entitled to socialize — i.e., conscript — whatever portion it considers its share. It may, as an optional act of political grace, allow the individual the remainder of what is misleadingly called the individual’s possession.

The collectivist agenda is antithetical to America’s premise, which is: Government — including such public goods as roads, schools and police — is instituted to facilitate individual striving, a.k.a. the pursuit of happiness. The fact that collective choices facilitate this striving does not compel the conclusion that the collectivity (Warren’s “the rest of us”) is entitled to take as much as it pleases of the results of the striving.

Warren’s statement is a footnote to modern liberalism’s more comprehensive disparagement of individualism and the reality of individual autonomy. A particular liberalism, partly incubated at Harvard, intimates the impossibility, for most people, of self-government — of the ability to govern one’s self. This liberalism postulates that, in the modern social context, only a special few people can literally make up their own minds....

Secret panel can put Americans on "kill list'
(Reuters) - American militants like Anwar al-Awlaki are placed on a kill or capture list by a secretive panel of senior government officials, which then informs the president of its decisions, according to officials.

There is no public record of the operations or decisions of the panel, which is a subset of the White House's National Security Council, several current and former officials said. Neither is there any law establishing its existence or setting out the rules by which it is supposed to operate.

The panel was behind the decision to add Awlaki, a U.S.-born militant preacher with alleged al Qaeda connections, to the target list. He was killed by a CIA drone strike in Yemen late last month.

The role of the president in ordering or ratifying a decision to target a citizen is fuzzy. White House spokesman Tommy Vietor declined to discuss anything about the process....

ObamaCare's Growing List Of Broken Promises
When the Kaiser Family Foundation reported last week that insurance premiums had climbed 9.5% this year — the biggest increase since 2004 — it looked as though a key promise of Obama-Care had been broken.

Indeed, just before he signed the health reform law, President Obama said it would "bring down the cost of health care for families, for businesses, and for the federal government." Instead, average family premiums have climbed $2,393 since 2008, the Kaiser survey found.

This is the latest ObamaCare prediction that has failed to materialize. If the history of state and federal health care reforms is any guide, it won't be the last....

Everyone Is Passing Around This Picture Mocking The Anti-Corporate Protests

Who funds the Climate Alarmists?


The Guardian: Al Gore is doing a disservice to science by overplaying the link between climate change and weather
...The claim that we are "painting more dots on the dice", causing weather events that simply could not have occurred in the absence of human influence on climate, is just plain wrong. Given the paucity of reliable records and bias in climate models, it is quite impossible to say whether an observed event could have happened in a hypothetical pristine climate. Our research focuses on quantifying how risks have changed, which is a much easier proposition, although addressing all the uncertainties still makes working out these "relative risks" a painstaking affair....

SOLYNDRAGATE: Huge Email Dump Implicates Obama And Rahm In Bankruptcy Scandal
...One email, obtained by the Washington Post, suggests that Obama and/or his chief of staff Rahm Emanuel was actively involved in trying to get Solyndra's loan application approved in time for a September 2009 press conference.

“Ron said this morning that the POTUS definitely wants to do this (or Rahm definitely wants the POTUS to do this?),” one White House staffer told an Obama scheduler on Aug. 17, 2009, referring to Ron Klain, former chief of staff for Vice President Joe Biden.

Steve Spinner, an Obama fundraiser who worked in the DOE loan department, repeatedly pushed the chief loan officer to expedite approval of Solyndra's loan — despite the fact that his wife worked for the law firm representing Solyndra. The firm received at least $2.4 million in fees related to the loan, according to the AP. DOE officials have previously stated that Spinner did not "actively participate" in Solyndra's application.

“How [expletive] hard is this? What is he waiting for? Will we have it by the end of the day?” Spinner wrote on Aug. 28, 2009. “I have OVP [Office of Vice President] and WH [White House] breathing down my neck on this. They are getting itchy to get involved if needed. I don’t want that.”...
Ezra Klien discovers govt can never successfully fix the economy, draws totally wrong conclusion.
...Perversely, the very size of the package is part of its problem. With something extraordinary that is nevertheless not enough, the economy deteriorates, and the government sees its solutions discredited and its political standing weakened by the worsening economic storm. That keeps it from doing more.

Meanwhile, the opposition’s capacity to do more is arguably even more limited, as it has turned against whatever policies were tried in the first place. Add in the almost inevitable run-up in government debt, which imposes constraints in the eyes of the voters and, in some cases, in the eyes of the markets, and an economy that started by not doing enough is never able to get in front of the crisis.

These sorts of economic crises are, in other words, inherently politically destabilizing, and that makes a sufficient response, at least in a democracy, nearly impossible....

...In general, the policies that are vastly better than whatever you are doing are not politically achievable, and the policies that are politically achievable are not vastly better....
The Day America Died
...Before some readers write to declare that Awlaki’s murder is no big deal because the US government has always had people murdered, keep in mind that CIA assassinations were of foreign opponents and were not publicly proclaimed events, much less a claim by the president to be above the law. Indeed, such assassinations were denied, not claimed as legitimate actions of the President of the United States.

The Ohio National Guardsmen who shot Kent State students as they protested the US invasion of Cambodia in 1970 made no claim to be carrying out an executive branch decision. Eight of the guardsmen were indicted by a grand jury. The guardsmen entered a self-defense plea. Most Americans were angry at war protestors and blamed the students. The judiciary got the message, and the criminal case was eventually dismissed. The civil case (wrongful death and injury) was settled for $675,000 and a statement of regret by the defendants.

The point isn’t that the government killed people. The point is that never prior to President Obama has a President asserted the power to murder citizens....

...It is possible that Awlaki was assassinated because he was an effective critic of the US government. Police states do not originate fully fledged. Initially, they justify their illegal acts by demonizing their targets and in this way create the precedents for unaccountable power. Once the government equates critics with giving “aid and comfort” to terrorists, as they are doing with antiwar activists and Assange, or with terrorism itself, as Obama did with Awlaki, it will only be a short step to bringing accusations against Glenn Greenwald and the ACLU....
Obamacare will put patients' records at risk
...As part of its implementation of Obamacare, the U.S. Department of Health and Human Services has proposed a new federal regulation to require private health insurance companies to give the government all of the health records of every person they insure. The rule is shrouded in the usual bureaucratese, but, as Huelskamp pointed out in a Washington Examiner op-ed, "abstract terms are used to distract from the real objectives of this idea: no matter which 'option' is chosen, government bureaucrats would have access to the health records of every American -- including you."

HHS Secretary Kathleen Sebelius claims the government must have the records in order to evaluate the performance of health insurers....
EU carbon trading scheme pays for murder of 23 farmers in Honduras

In Scramble for Land, Group Says, Company Pushed Ugandans Out
...According to a report released by the aid group Oxfam on Wednesday, more than 20,000 people say they were evicted from their homes here in recent years to make way for a tree plantation run by a British forestry company, emblematic of a global scramble for arable land...

...But in this case, the government and the company said the settlers were illegal and evicted for a good cause: to protect the environment and help fight global warming.

The case twists around an emerging multibillion-dollar market trading carbon-credits under the Kyoto Protocol, which contains mechanisms for outsourcing environmental protection to developing nations....
Liberal Fascism is the new black
...According to Ryan: “The Constitution imposes too many restrictions on government interference for Mr. Sachs, and we’d be better served if we moved toward a ‘French-style’ constitution that consolidated the executive and legislative branches and empowered experts to help us manage the ‘complexity of our economy.’ ” Ryan also notes that Sachs echoes the arguments of French philosopher Jean-Jacques Rousseau and the Utilitarian philosophy of Jeremy Bentham. Ryan does not mention that Rousseau’s theory of the general will is the forerunner of modern totalitarianism and Bentham’s idea of Utopia was a prison under his total control.

It is worth noting that Sachs is not considered a fringe character. He has been named one of TIME magazine’s “100 Most Influential People in the World” twice and Vanity Fair magazine put him on its list of 100 members of the New Establishment. Moreover, Sachs is hardly alone in indulging these sorts of thoughts on the left.

Ed Driscoll collects a few examples. Gov. Bev Purdue (D-NC) recently suggested “we ought to suspend, perhaps, elections for Congress for two years and just tell them we won’t hold it against them, whatever decisions they make, to just let them help this country recover.” Former Obama budget director Peter Orszag wrote a piece for TNR arguing “we need to jettison the Civics 101 fairy tale about pure representative democracy and instead begin to build a new set of rules and institutions that would make legislative inertia less detrimental to our nation’s long-term health.”...
Most IPCC coordinating lead authors work for WWF
...She has compared two lists. One of them is a list of scientists hired by the World Wildlife Fund, a huge international ecoterrorist corporation. According to the WWF, these "scientists" work for the WWF to support the claims by "Climate Witnesses".

The other list is a list of authors of the 2007 IPCC report. She found 78 people in the intersection of these two sets....
Furiously unraveling
...What do you know? Among the e-mails was a photograph of a powerful Barrett .50-caliber rifle that had been illegally purchased in Tucson and recovered in Sonora, Mexico, raising the possibility of a second “gunwalking” program, this one called “Wide Receiver.”

Like Fast and Furious, the ATF-supervised scheme that saw thousands of weapons “walk” across the Mexican border for reasons no one in the Justice Department has yet satisfactorily explained, Wide Receiver was apparently a joint operation that also included the Drug Enforcement Administration, the FBI, Immigration and Customs Enforcement, the IRS and the US Attorney’s office.

It’s likely there have been others, in such states as Florida and Indiana....

Sunday, October 02, 2011

Eugenics: Progressivism’s Ultimate Social Engineering
...Leonard and Bernstein argue that some of the most prominent of the Progressive reformers were “partisans of human inequality.” They supported interventions as ways to forward their eugenic goal of a purer (that is, whiter) human race by eliminating the opportunities for the “unfit” to get meaningful work. The “unfit” here included not just nonwhites (especially African-Americans) but also the “insane,” immigrants (especially from central and eastern Europe), and in a somewhat different way, women....

...Eugenics clubs and societies grew rapidly and many of the leading intellectuals of the early twentieth century, including a number of well-known economists (such as John Maynard Keynes and Irving Fisher, perhaps the most famous American economist of the time), were active in these groups and saw their work through the lens of eugenics....

...We look back on the eugenics movement with proper horror. Yet the same ideas that led to forced sterilization also led to restrictions in the workplace, because labor markets were one place where eugenics-oriented economists could combine their two interests. They recognized early on that legislation which excluded the “unfit” from labor markets would advance their eugenic goals. Most of these laws were enacted at the state level during this period, but the New Deal era saw many of the same arguments applied at the national level.

Consider minimum wage laws, for example. Today we tend to think people support them because they believe a minimum wage is a free lunch that will help the poor. Classical-liberal economists have long criticized such regulations, arguing they are a perfect example of the law of unintended consequences and of the disconnect between intentions and outcomes. In a competitive labor market any worker who can produce value is hirable at some wage up to that value. Even workers with limited skills are employable. What the minimum wage and other mandated benefit laws do is create a minimum productivity criterion for hiring, closing off the labor market to workers whose productivity is too low to justify that cost.

Leonard’s work shows that some advocates of the minimum wage, including many giants of the early days of the economics profession, such as John R. Commons and Richard T. Ely, understood exactly what minimum wage laws would do and liked it. In addition, various Progressives and socialists who were not economists, such as Eugene Debs and Beatrice and Sidney Webb, also supported minimum wage laws and other interventions into the labor market precisely because they would weed out those who were deemed too stupid or lazy to compete in a market economy—in particular, women, immigrants, and blacks.

Leonard writes, “the progressive economists . . . believed that the job loss induced by minimum wages was a social benefit, as it performed the eugenic service ridding the labor force of the ‘unemployable.’” He quotes the Webbs’ statement that “this unemployment is not a mark of social disease, but actually of social health.” Further, he quotes Henry Rogers Seager of Columbia University, who suggested that minimum wages were necessary to protect workers from the “wearing competition of the casual worker and the drifter.”...
Enron, Solyndra, and Double Standards


Sheila Jackson Lee tells conservative bloggers to “shut up!”
Rep. Sheila Jackson Lee, D-Houston, has two strong words for right-wing bloggers: “SHUT UP!”

The high-profile Houston congresswoman was responding to the most recent round of criticism of President Obama on the conservative blogosphere. Right-leaning commentators have been having a field day over Obama’s admonition to African-American voters to “stop complaining” about his administration.

Jackson Lee stood by the president and had a short fuse when it came to the right-wing media’s reaction.

“To all the bloggers, shut up and stop playing racial politics,” Jackson Lee said on the PBS talk show program hosted by Tavis Smiley....

Four New York Democratic Senators: “Proponents of a More Refined First Amendment Argue That This Freedom Should Be Treated Not as a Right But as a Privilege”
...Proponents of a more refined First Amendment argue that this freedom should be treated not as a right but as a privilege — a special entitlement granted by the state on a conditional basis that can be revoked if it is ever abused or maltreated....

Phone hacking fallout: Labour plans tighter media regulation
Journalists guilty of gross malpractice should be struck off a professional register to prevent them working in news, the shadow culture secretary will suggest at the Labour conference on Tuesday.

Ivan Lewis is proposing a "system of independent regulation including proper like-for-like redress which means mistakes and falsehoods on the front page receive apologies and retraction on the front page".

He will also warn Rupert Murdoch's News International that Labour will never allow the corporation to use its media influence to exert political power in pursuit of ideological or commercial goals....
Gunwalker: ATF Walked Guns Directly to Cartel Using Taxpayer Dollars
...The existence of this letter provided to these reporters by a previously reliable source familiar with the Fast and Furious investigation, coupled with interviews of other sources across the country which put it into context, provides startling proof that the Federal government did not merely “lose track” of weapons purchased by “straw buyers” under surveillance by the ATF and destined for the Mexican drug cartels. In an undercover operation ordered by Fast and Furious supervisor David Voth, the U.S. government purchased firearms with taxpayer money from licensed firearms dealers, instructed them to conduct the sales “off the books,” and used an ATF agent, John Dodson, to deliver them directly to people that Dodson believed were conducting them across the border.

According one source close to the Issa committee and knowledgeable of its workings, this revelation “puts a stake in the heart of the ‘botched sting operation’ lie.” He continued, “There never was any ‘sting,’ there was only a deliberate effort to provide weapons to the DTO’s (Drug Trafficking Organizations).” He added, “this was one hundred percent us — our money, our guy, our (gun)walking.”...


Secret recordings raise new questions in ATF 'Gunwalker' operation
...The tapes were recorded approximately mid-March 2011 by the primary gun dealer cooperating with ATF in its "Fast and Furious" operation: Andre Howard, owner of Lone Wolf Trading Company in Glendale, Arizona. He's talking with the lead case ATF case agent Hope MacAllister.

The tapes have been turned over to Congressional investigators and the Inspector General.

As CBS News first reported last February, the Bureau of Alcohol, Tobacco, Firearms and Explosives allegedly allowed thousands of weapons to "walk" onto the streets without interdiction into the hands of suspected traffickers for Mexican drug cartels in its operation "Fast and Furious."

The conversations refer to a third weapon recovered at the murder scene of Border Patrol Agent Brian Terry.

Agent: I was ordered to let guns into Mexico

Court records have previously only mentioned two weapons: Romanian WASR "AK-47 type" assault rifles. Both were allegedly sold to suspects who were under ATF's watch as part of Fast and Furious.

Also, a ballistics report turned over to Congressional investigators only mentions the two WASR rifles. The ballistics report says it's inconclusive as to whether either of the WASR rifles fired the bullet that killed Terry....
Mexican drug cartels’ US reach expanded over 300 percent in two years

New Fast and Furious docs released by White House
WASHINGTON - Late Friday, the White House turned over new documents in the Congressional investigation into the ATF "Fast and Furious" gunwalking scandal.

The documents show extensive communications between then-ATF Special Agent in Charge of the Phoenix office Bill Newell - who led Fast and Furious - and then-White House National Security Staffer Kevin O'Reilly. Emails indicate the two also spoke on the phone. Such detailed, direct communications between a local ATF manager in Phoenix and a White House national security staffer has raised interest among Congressional investigators looking into Fast and Furious. Newell has said he and O'Reilly are long time friends....

Fast & Furious “smoking gun”?
...There are two possible explanations. The first is that the anti-gun Obama administration deliberately wanted American guns planted in Mexico in order to demonize American firearms dealers and gun owners. The operation was manufacturing “evidence” for the president’s false claim that we’re to blame for the appalling levels of Mexican drug-war violence.

If this is true, then Holder & Co. have got to go — and the trail needs to be followed no matter where it leads. For the federal government to seek to frame its own citizens is unconscionable.

A second notion is that the CIA was behind the whole thing, which accounts for all the desperate wagon-circling. Under this theory, the Agency feared the los Zetas drug cartel was becoming too powerful and might even mount a coup against the Mexican government. So some 2,000 weapons costing more than $1.25 million were deliberately channeled to the rival Sinaloa cartel, which operates along the American border, to keep the Zetas in check.

Of course, there’s a third explanation — that both scenarios are true, and that those in charge of Fast and Furious saw an opportunity to shoot two birds with one Romanian-made AK Draco pistol....

Friday night F&F document dump shows “extensive” communication with White House
...In other words, the White House knew that the guns had gone over the border, and treated it like an academic exercise. O’Reilly apparently never asked in his capacity as a national security adviser, “What the hell were you thinking in allowing the guns to get across the border?” Instead, O’Reilly wondered if a similar operation in Texas produced a cool map, too.

It sounds as if the Obama administration was on board the idea to allow guns to transit the border, and at the very least shows that no one can claim surprise at the outcome. The White House’s lawyer tried to spin it anyway, writing to the Oversight Committee that “none of the communications between ATF and the White House revealed the investigative law enforcement tactics at issue in your inquiry, let alone any decision to allow guns to ‘walk.’” That may be true — at least as far the documents the White House released, but that’s not all of the communications...
Scary truth about Obamacare keeps seeping out
...Last week, Howard Dean, former governor of Vermont and chairman of the Democratic National Committee from 2005 to 2009, acknowledged that -- as Obamacare's critics have contended all along -- the bill will prompt many employers to drop their health plans. "Most small businesses are not going to be in the health insurance business anymore after this thing goes into effect," he said. Dean, of course, spun this as a cost reduction for business. But in fact it undercuts two key promises Obama made in order to pass his bill. First, if you like your health coverage, you probably won't be able to keep it. Second, millions of Americans will be dumped by their employers into subsidized insurance exchanges, which means that Obamacare will add significantly to the deficit.

Then again, thanks to a glaring but heretofore unnoticed flaw in the bill's language, Obamacare might not cost as much as expected because it won't serve those it was intended to help. Because supporters failed to read their bill before passing it, the letter of the law provides that low-income Americans in many states will not be eligible for the promised subsidies to purchase insurance. This simple technical mistake, reported this month by Investor's Business Daily, threatens to un-insure millions of those currently insured if they are dumped by employers into federally established insurance exchanges....

New Study Underlines Unfulfilled Promises of Health Care Bill
A new study by the Kaiser Family Foundation underlines that many of the promises surrounding President Obama’s health care legislation remain unfulfilled, though the White House argues that change is coming.

Workers at the Flora Venture flower shop in Newmarket, NH, remember when presidential candidate named Sen. Barack Obama, D-Ill., promised that their health care costs would go down if they elected him and his health care plan was enacted.
On May 3, 2008, the president told voters that he had “a health care plan that would save the average family $2,500 on their premiums.”

Last year workers at the flower shop saw their insurance premiums shoot up 41 percent.

“I basically work for the health care payments,” says manager Pat Cowhig, whose husband has medical issues.

The Kaiser Family Foundation shows family premiums topped $15,000 a year for the first time in 2011, increasing a whopping 9% this year, three times more than the increase the year before. The study says that up to 2% of that increase is because of the health care law’s provisions, such as allowing families to add grown children up to 26 years old to their policies.

So what about that $2,500 in savings the president pledged? White House deputy chief of staff Nancy-Ann DeParle insists families will see that savings — by 2019....
Elizabeth Warren’s Non Sequitur
...Has anyone seen this social contract that obligates you to surrender a “hunk” of what you produce under penalty of violence? Sorry, I don’t trust unwritten open-ended so-called “contracts” into which any advocate of government power may read conditions ex post. (The idea of social contract can be construed more sensibly. See this.) Moreover, why aren’t honest production and exchange of valuable goods counted as payment forward? Just as our living standard is the fruit of previous generations’ production, so today’s producers are helping to raise the living standard of the next generations.

Boiled down, then, Warren’s argument is that since everyone has paid taxes to provide services without which wealthy people couldn’t have made their money, they should pay more. How does that follow? She’d first have to show that they are paying too little now. She only assumes this. (See Steven Horwitz’s discussion of this matter.) That’s not good enough. And maybe the services cost too much — wouldn’t we expect that from a protected monopoly?

She might respond that the presence of the deficit shows that not enough money is collected in taxes and therefore the wealthiest should pay more. Still not good enough. As she herself intimates, the George W. Bush years were marked by unfunded spending. That sounds like a problem of overspending, not undertaxation. Solution: Cut spending.