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The Obama Presidency

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Now as Ever, GOP-Lite Won’t Work.

“On Tuesday night, a lot of Republican-ish candidates got crushed by the official Republican candidates, confirming yet again that a gutless, wincing version of one kind of politics always loses to the robust one. Nobody first starts drinking Diet Coke because they think it tastes better, and the only people who keep drinking it are the ones who’ve drunk nothing else for so long that actual flavor seems weird. Why vote for someone hesitantly and semi-apologetically tacking toward the right when you can just vote for someone who goes balls-to-the-wall rightward and is damn proud of it? At least that person gives off the sense of actually enjoying his own beliefs.”

THIS. Part of the upside of being newly off-the-Hill is I can escape a bit further from the dreariness of much of current politics, so no absurdly-belated, long midterm post this year. Besides, The Guardian‘s Jeb Lund has already well-articulated where I am on all this: Give people a choice between a Republican and a Republican and the Republican will win every time:

“[W]hether the Democratic Party stands for anything is a perfectly valid question at this point. On a macro level, a party that is already thoroughly militarized and corporatized — and largely indifferent to Main Street whenever it poses a conflict with Wall Street — offers little alternative to the other party that already celebrates that.”

Sure, the ground in 2014 always heavily favored the GOP: This was a six-year midterm, Class 2 year, and the seats up for reelection swung heavily Democratic six years ago, in that faraway, hopey-changey time of 2008. Still, when you have a party that hardly, if ever, has the courage of its convictions anymore, coupled with a President who seemed at times to be actively trying to discourage the base, little wonder that the lowest turnout since 1942 brought forth another shellacking. As Richard said, a withdrawal in disgust is not the same as apathy.

So, yeah, bad times for the Democratic brand, and no mistake. The good news is the long-term story hasn’t changed: Republicans are still drawing dead, demographically speaking, even though they’ll probably hold the House until at least 2020 due to gerrymandering (and now, thanks to these 2014 results, will likely be able to hold the Senate for the first two years of the next presidency.) And, even better, Americans strongly supported progressive positions two weeks ago, be it on the minimum wage, marijuana, or misdemeanors.

But Dems can’t just assume the government will eventually devolve to them by fiat. We’re going to have to quit thinking the endless “but the other team is crazy-pants” blather will carry us over the top, and actually put up candidates that will stand for something other than GOP-lite camouflage. Of course, our 2016 standard-bearer is, at least at the moment, undoubtedly Hillary Clinton, sooo…I’m sure everything’s going to work out great.

Goodbye to all that.

“If half the animals died in London zoo next week it would be front page news,’ said Prof. Ken Norris, ZSL’s director of science. ‘But that is happening in the great outdoors. This damage is not inevitable but a consequence of the way we choose to live.'”

A sobering analysis by WWF and the Zoological Society of London finds that Earth has lost half(!) its wildlife over the past four decades (Those g*dd*mned parrotfish notwithstanding, of course.) “Creatures across land, rivers and the seas are being decimated as humans kill them for food in unsustainable numbers, while polluting or destroying their habitats…Today’s average global rate of consumption would need 1.5 planet Earths to sustain it. But four planets would be required to sustain US levels of consumption, or 2.5 Earths to match UK consumption levels.”

In related news, PriceWaterhouse runs the accelerating numbers on climate change and predicts a catastrophe within only twenty years, including “food security threats, coastal inundation, extreme weather events, ecosystem shifts, and widespread species extinction…at current rates, we’re headed towards 7.2 degrees Fahrenheit of warming by the end of the century—twice the agreed upon rate…G20 nations, for example, will need to cut their annual energy-related emissions by one-third by 2030, and by just over half by 2050.”

And here, the National Snow and Ice Data Center graphs the melting of the Arctic over the past 35 years. “The frigid dissolution, which the NSIDC calls ‘one of the most visible indicators of our changing climate,’ is worrying news as the ice plays a big role in reflecting solar radiation away from the planet. With less of it covering the ocean, the Northern Hemisphere will likely heat up quicker, hastening our arrival to the days of dangerously high sea levels.” And if — at this exceedingly late date — you don’t want to believe the science, ask the walruses.

It’s not like this all is a secret. We just saw the largest climate change march in history take place in New York. But you wouldn’t know about the threat we face from watching the news, who’ve (erroneously) decided that the real existential danger to life on this planet are ISIS (wrong) and Ebola (closer, still wrong.) Wolf Blitzer et al, you’re digging in the wrong place.

We Thought It Was So Reckless.

“Destroying what Obama calls the Islamic State of Iraq and the Levant won’t create an effective and legitimate Iraqi state. It won’t restore the possibility of a democratic Egypt. It won’t dissuade Saudi Arabia from funding jihadists. It won’t pull Libya back from the brink of anarchy. It won’t end the Syrian civil war. It won’t bring peace and harmony to Somalia and Yemen. It won’t persuade the Taliban to lay down their arms in Afghanistan. It won’t end the perpetual crisis of Pakistan. It certainly won’t resolve the Israeli-Palestinian conflict.”

ISIS, oh ISIS – What drives us to you is what drives us insane: In Reuters, Middle East expert Andrew Bacevich has some serious doubts about a military solution to the newest Big Bad (who, let’s remember, are a threat at all precisely because of all the weapons we’ve already dumped in the area — Gee, it’s almost like our always getting involved makes everything worse.) “Rudderless and without a compass, the American ship of state continues to drift, guns blazing.”

He’s not alone. While they’ve been highly complicit in the collective freak-out over the past few weeks, the media — as welcome returning blogger Dan Froomkin notes — are starting to get skeptical too. “Allam notes that Yemen and Somalia are hardly examples of success; that the new Iraqi government is hardly ‘inclusive'; that training of Iraqi soldiers hasn’t worked in the past; that in Syria it’s unclear which ‘opposition’ Obama intends to support; and that it may be too late to cut off the flow of fighters and funds.”

Keeping in mind that Obama himself seems to think this is all a terrible idea, let’s recall what we’re really dealing with here, via the very worthwhile “War Nerd,” Gary Brecher: “ISIS, compared to any of the groups on that list, is about as scary as your neighbor’s yappy Shih Tzu: all noise and no teeth. Let’s just sober up, for Christ’s sake, and remember we’re talking about a half-assed Sunni militia that couldn’t face up to Assad’s mediocre Syrian Arab Army and still hasn’t found a way to occupy Sunni Iraqi towns that were outright abandoned by the Army, left totally undefended.”

Along the same lines, see Brecher on ISIS’s initial advance back in June:

“Actually, topography has everything to do with what’s gone well or badly for ISIS. in this latest push. If you know the ethnic makeup of the turf they’ve taken, their ‘shocking gains’ don’t seem so shocking, or impressive. After all, we’re talking about a mobile force — mounted on the beloved Toyota Hilux pickup truck, favorite vehicle of every male in the Middle East — advancing over totally flat, dry ground in pursuit of a totally demoralized opponent. In that situation, any force could take a lot of country very quickly…So this isn’t the second coming of Erwin Rommel by any means. Everything has conspired to push the Sunni advance, from the lousy opponent they’re up against to the terrain, which is a light mechanized commander’s dream.

Flat and dry is how a mechanized force commander wants his ground — and believe me, you haven’t seen flat and dry until you get to Iraq. Once you’re south of the Kurdish mountains, you’re on a dried mudflat…This is, after all, Mesopotamia, a land literally built by the sediment of the Euphrates and Tigris. It’s river mud, but nice and dry because very little rain falls,..On ground like that, any force with good morale and enough fuel could advance as quickly as the Sunni have. It’s the Bonneville Salt Flats of insurgency, the place you go to set new speed records.”

The point being, we have to stop losing our minds and letting a hysterical media and the same gaggle of Neocon pricks who’ve been wrong about everything for two decades get us involved in every opportunity to make war in the Middle East. Are ISIS a bunch of Bad Men? Undoubtedly. But that doesn’t make them an existential threat to the republic. So how about we all take a deep breath before, yet again, expending ever more blood and treasure in the region?

Getting Away With It.

“I have been following the absence of legal prosecutions since 2008, and have posted on that subject more than 500 times. But this isn’t the obsession of one lone crank (i.e., me). Many others in banking, law enforcement and government who aren’t on the payroll of banks have reviewed the events of the financial crisis and have reached the same conclusion — that the law was broken repeatedly by bankers.”

In the wake of a ridiculous apologetic in the NYT — and news that the government now wants to waive sanctions for Credit Suisse — Bloomberg’s Barry Ritholtz re-asks one of the central questions of the financial crisis, and Obama’s response to it: Why have no Banksters gone to jail?

“Political access and lobbying go part way toward explaining the absence of prosecutions and, therefore, the lack of convictions…As we have repeatedly shown, Treasury Department officials, including former Treasury Secretary Timothy Geithner, had convinced prosecutors in the Justice Department of the dangers of prosecuting banks and bankers for the economy.” (Cartoon above via here.)

The Sun Has Come to Earth.

“The new figures for carbon dioxide were particularly surprising, showing the biggest year-over-year increase since detailed records were first compiled in the 1980s, Tarasova said in an interview. The jump of nearly three parts per million over 2012 levels was twice as large as the average increase in carbon levels in recent decades.”

We’re getting warmer: While the world focuses on deleting spam from U2, a new report finds carbon dioxide levels in the atmosphere accelerating ever faster. “‘The changes we’re seeing are really drastic,’ Tarasova said. ‘We are seeing the growth rate rising exponentially’…’It means we’re probably getting to the point where we’re looking at the ‘safe zone’ in the rearview mirror, even as we’re stepping on the gas.'”

The Middle, Sinking.

“Nostalgia is just about the only thing the middle class can still afford. That’s because median wealth is about 20 percent lower today, in inflation-adjusted dollars, than it was in 1984. Yes, that’s three lost decades.”

Wonkblog’s Matt O’Brien briefly surveys the downward pressure on our sinking middle class. “[I]t’s still a heckuva lot better than households in the bottom 25 percent, whose wealth never grew during the good times, and then plunged 60 percent during the bad ones. That’s because, for both the middle and working classes, real wages have been stagnant the past 30 years, and housing equity has taken a nosedive.”

No Labels — Only Roadkill.

It was the dream of a bunch of wealthy and bored coastal elites who’d determined that the biggest problem facing America was ‘partisanship,’ and that the answer was to give up ‘ideology’ and instead pursue a ‘centrist’ agenda composed mainly of moderately conservative budget reforms and gimmicky demonstrations of bipartisan comity. The fact that ‘centrism’ itself is as much an ideology as liberalism or conservatism didn’t matter – the cause was righteous, and the donations were plentiful.”

Building on this recent piece by Meredith Shiner, Simon Maloy eviscerates the quintessentially Beltway idiocy of No Labels. “Their stated intention is to be high-minded ‘problem solvers’ in Washington who will cut through the gridlock, but most of what they do is silly and self-defeating, and most of the money they raise is spent on promoting themselves.”

See also this worthwhile May 2012 post at Driftglass, where I found the handy historical graph above: “The Big Lie of Centrism is the Magic Lie. The Philosopher’s Stone of lies which has transmuted dozens of mediocre hacks into Very Wealthy and Serious Persons…The Maginot Line of the Beltway Media can withstand any assault as long the Big Lie of Centrism remains intact.”

Continued Injuries and Usurpations.

Recent dismal developments on the War on Terror/Civil Liberties Front:

(1) “The court found Poland violated its obligations under the European Convention on Human Rights to prevent torture, ensure the right to liberty, and properly investigate allegations a crime had been committed on its territory.”

The European Court of Human Rights finds that Poland harbored one of the CIA’s infamous black sites — perhaps this is one of the old Soviet compounds? “[S]imilar cases have been lodged with the court in Strasbourg against Romania and Lithuania.”

(2) “The five Americans whose email accounts were monitored by the NSA and FBI have all led highly public, outwardly exemplary lives. All five vehemently deny any involvement in terrorism or espionage, and none advocates violent jihad or is known to have been implicated in any crime, despite years of intense scrutiny by the government and the press.”

Paging J. Edgar: The Intercept’s Glenn Greenwald and Murtaza Hussain, with help from Edward Snowden, uncover NSA and FBI surveillance of prominent, upstanding Muslim-Americans. “In one 2005 document, intelligence community personnel are instructed how to properly format internal memos to justify FISA surveillance. In the place where the target’s real name would go, the memo offers a fake name as a placeholder: ‘Mohammed Raghead.'”

(3) “Emblazoned with the crests of 19 agencies, it offers the most complete and revealing look into the secret history of the government’s terror list policies to date. It reveals a confounding and convoluted system filled with exceptions to its own rules, and it relies on the elastic concept of ‘reasonable suspicion’ as a standard for determining whether someone is a possible threat…individuals can be watchlisted if they are suspected of being a suspected terrorist, or if they are suspected of associating with people who are suspected of terrorism activity.”

Also in The Intercept, Jeremy Scahill and Ryan Devereaux explain the absurdly broad net that is the terrorist watchlist. “There are a number of loopholes for putting people onto the watchlists even if reasonable suspicion cannot be met.”

(4) “Nearly all of the highest-profile domestic terrorism plots in the United States since 9/11 featured the ‘direct involvement’ of government agents or informants, a new report says…rais[ing] questions about the US criminal justice system’s ability to respect civil rights and due process in post-9/11 terrorism cases.”

And in The Guardian, Spencer Ackerman expounds on the FBI’s apparent excessive leaning on entrapment to conjure up terror cases. “‘In some cases the FBI may have created terrorists out of law-abiding individuals by suggesting the idea of taking terrorist action or encouraging the target to act,’ the report alleges.”

Torture, rendition, secret prisons, spying on Americans, surveillance policies that are obviously, woefully ripe for abuse…We are six and a half years into the administration of a president who promised us definitively this nonsense would end. And yet, virtually every day, we hear of a new outrage, and the only official response seems to be Lock Up the Messenger. So when are we going to get an accountability moment here?

A Wasted Opportunity. | So Now What?

“The task facing the makers of the Obama museum, however, will be pretty much exactly the opposite: how to document a time when America should have changed but didn’t. Its project will be to explain an age when every aspect of societal breakdown was out in the open and the old platitudes could no longer paper it over — when the meritocracy was clearly corrupt, when the financial system had devolved into organized thievery, when everyone knew that the politicians were bought and the worst criminals went unprosecuted and the middle class was in a state of collapse….It was a time when every thinking person could see that the reigning ideology had failed, that an epoch had ended, that the shitty consensus ideas of the 1980s had finally caved in — and when an unlikely champion arose from the mean streets of Chicago to keep the whole thing propped up nevertheless.”

In Salon, Thomas Frank laments the wasted opportunity of the Obama years. “Why, the visitors to his library will wonder, did the president do so little about rising inequality, the subject on which he gave so many rousing speeches? Why did he do nothing, or next to nothing, about the crazy high price of a college education, the Great Good Thing that he has said, time and again, determines our personal as well as national success? Why didn’t he propose a proper healthcare program instead of the confusing jumble we got? Why not a proper stimulus package? Why didn’t he break up the banks? Or the agribusiness giants, for that matter?”

Frank’s piece is definitely a bit overwritten, with its “mausoleum of hope” and all. That being said, I’m on board with his central thesis, as I’ve said several times before. (In fact, I was glad to see when fixing the old archives lately, that however hopey-changey I felt in 2008, I was more measured in my writing than I remembered, bringing up the ominous example of Herbert Hoover in my post-election post and wondering what the heck was going on within two weeks of Obama’s inauguration.)

Also, to get a sense of what a bad place our party is at these days, just look at Kevin Drum’s ridiculous response to this Tom Frank piece. Drum, mind you, is the official blogger of Mother Jones, named after the famous labor leader. And he writes: “It’s easy to recognize this as delusional…Because — duh — the hated neoliberal system worked. We didn’t have a second Great Depression. The Fed intervened, the banking system was saved, and a stimulus bill was passed…As for Obama, could he have done more? I suppose he probably could have, but it’s a close call.”

A close call? C’mon. As I responded on Twitter: “And all is for the best in the best of all possible worlds. This neoliberal horseshit would’ve made Mother Jones blanch. This piece sidesteps O’s GWOT record. 2. It ignores O’s penchant for starting negotiations where they should finish. 3. It presumes filibuster reform impossible. 4. It ignores that financial crisis response grew inequality. And so on.”

And, remember: This fatalistic “Americans are all centrists anyway, Obama did all he could” shrug is coming from the house blogger of one of our foremost progressive journals. It’s pathetic. This is yet another example of we progressive Democrats no longer having the courage of our convictions.

See also this very worthwhile Salon piece on Zephyr Teachout’s challenge to notorious douchebag Andrew Cuomo, by my friend and colleague Matt Stoller, which talks about this exact same phenomenon.

“The basic theory of the ‘New Democrat’ model of governance is that Wall Street and multinational corporate elites produce wealth through the creation of innovative financial practices and technology, and that Democrats should then help middle class and poor citizens by taxing this wealth, and then using some of it to support progressive social programs…This method of running the economy has become so accepted among Democratic leaders that writers like New York Times columnist Paul Krugman and Vox writer Matthew Yglesias now argue that there simply is no alternative…

“There is a hunger in the Democratic Party for making the party serve the interest of regular voters, not the rich. In 2008, liberal Democrats decisively broke from the Clinton legacy and voted for Barack Obama, with his mantra of hope and change. Obama, however, stocked his administration with Clinton administration officials like Larry Summers, Tim Geithner and Janet Yellen. A joke going around Democratic circles after the election was that ‘Those supporting Obama got a president, those supporting Clinton got a job.’ Obama broke with the Clinton name, but brought the Clinton intellectual legacy, and Clinton’s Wall Street-backed machine, into governance…”

“The potentially transformative message of the Teachout-Wu campaign is that the problem is not solely one of personalities or tactical political approaches. Rather it is that the New Democrat model itself, and the Democratic party establishment, is fundamentally at odds with the party’s traditional liberalism…Teachout and Wu are trying to place the citizen at the center of policy. They do that through their proposals for public financing, for antitrust, for social insurance, infrastructure and labor.”

Without vision, the people perish. If we ever want to see the real and positive change that Americans were promised back in 2008, we progressives have to stop acting like we have no other option than to fall into line behind the leftiest of the centrists and clap harder for every occasional, diluted-to-all-hell scrap they throw our way. There’s more to life than Rockefeller Republicanism, and it’s not like we don’t have excellent historical templates to borrow from. We need to dream bigger, stop thinking the status quo is all there is, and push back.

Are Zephyr Teachout and Tim Wu going to knock out Andrew Cuomo, a guy who’s quite obviously the poster child for everything that’s wrong with our party? Alas, probably not. But one does not always fight because there is hope of winning. And New York in 2014 is as a good a place as any to start the long uphill slog of taking back our party.

Update: Right on cue, the NYT delves into Andrew Cuomo’s hobbling of the state ethics commission. “[A] three-month examination by The New York Times found that the governor’s office deeply compromised the panel’s work, objecting whenever the commission focused on groups with ties to Mr. Cuomo or on issues that might reflect poorly on him.”More here.

Meanwhile, Blake Zeff thinks Cuomo may have met his match in US Attorney Preet Bharara. “[Bharara] has not only taken possession of the files from the corruption-fighting Moreland Commission that Cuomo recently closed down as part of a budget deal, but has also publicly floated the possibility of investigating the governor’s alleged meddling in its investigations.”

The Crisis That Wasn’t.

“It’s hard to escape the sense that debt panic was promoted because it served a political purpose — that many people were pushing the notion of a debt crisis as a way to attack Social Security and Medicare. And they did immense damage along the way, diverting the nation’s attention from its real problems — crippling unemployment, deteriorating infrastructure and more — for years on end.”

In the NYT, Paul Krugman reviews the waning of the deficit witchhunt. “I’m not sure whether most readers realize just how thoroughly the great fiscal panic has fizzled — and the deficit scolds are, of course, still scolding.” Of course they are. Now would be the time for embarrassment, if the Simpson-Bowles types out there were capable of it.

Same Old Hillary.

While working this week on my semi-regular project of fixing the archives around here (something I’d like to complete before GitM’s 15th anniversary in November, but it’s slow, tedious going), I came across this line, from a post on the very first Election 2008 debate back in May 2007:

“As for Clinton, well, it’s not entirely her fault, I guess — unlike Obama, she’s been with us for a decade and a half now, and is nothing if not a known quantity. But she came across to me as the same cautious, methodical, triangulating centrist she’s shown herself to be over the past fifteen years in public life, and it’s getting harder to imagine myself being anything but underwhelmed by her as a candidate in the general election.”

Of course, the 2008 primaries thereafter grew quite heated, and, suffice to say, I didn’t think HRC accorded herself very well. So instead of the cautious, methodical, triangulating centrist we knew, I and millions of others took a gamble on Hope and Change…and ended up with a cautious, methodical, triangulating centrist regardless.

So here we are six years later, with an American electorate that has moved demonstrably to the left, and the former Secretary of State and presumptive Democratic nominee just held her first almost-a-candidate townhall on CNN. And what have we learned so far about the all-new, tanned, rested, and ready, 2016 iteration of Hillary Clinton?

1) She thinks Edward Snowden pals around with terrorists. “I think turning over a lot of that material—intentionally or unintentionally—drained, gave all kinds of information, not only to big countries, but to networks and terrorist groups and the like. So I have a hard time thinking that somebody who is a champion of privacy and liberty has taken refuge in Russia, under Putin’s authority.”

2) Her favorite book is…the Bible. “[T]he Bible was and remains the biggest influence on my thinking. I was raised reading it, memorizing passages from it and being guided by it. I still find it a source of wisdom, comfort and encouragement.” Edgy!

3) She won’t take a position on Keystone. “‘I can’t respond,’ she said…’This particular decision is a very difficult one because there are so many factors at play.'”

4) She was actually against the Iraq War last time around, but just couldn’t come out and say it because she supports the troops. “[I]n fact, in the Democratic Party at that time, the smart political decision, as so many of my colleagues did, was to come out and say ‘Terrible mistake, shouldn’t have done it,’ and you know blame the Bush administration. I had this sense that I had voted for it, and we had all these young men and women over there, and it was a terrible battle environment…So I felt like I couldn’t break faith with them.”

5) By the way, those troops should still be in Iraq right now. “When — President Bush decided, before President Obama became president, that we would leave Iraq in 2011, the United States would end its combat mission, unless the Iraqi government agreed to ask us to stay, under the same conditions that we have all around the world. It’s called a status of forces ingredient. I was involved in a lot of the efforts to come up with what our offer would be. And we made such an offer to then Prime Minister Maliki. And he would not accept the status of forces agreement…[W]e knew Iraq would be quite dangerous for a long time, unpredictable, at the very least — you have to have the host government, in this case Iraq, say, OK, here’s what we want…We didn’t get that done. And I think, in retrospect, that was a mistake by the Iraqi government.”

6) She won’t come right out and endorse paid maternity leave in America. “I think, eventually, it should be, but, right now, we’re seeing some — some very good proposals being implemented in other parts of the country, so that we have answers…I don’t think, politically, we could get it now.” By the way, you know who else doesn’t have paid maternity leave? Lesotho, Papua New Guinea, and Swaziland. That’s it.

7) She won’t come right out and say racism may be a factor in anti-Obama sentiment. “Well, I know that — I don’t want to — I don’t want to say that I verify that, because that would be generalizing too broadly. I believe that there are people who have trouble with ethnicity, with race, with gender, with sexual orientation, you name it. And therefore, they are not developing a reasoned opinion — even if it’s an opinion in opposition, but they are a reacting on a visceral stereotypical basis. And that’s unfortunate.” YES, Madam Secretary. The answer here is “YES.”

8) Her family is apparently shielding wealth from the estate tax, a tax both she and the former President support. A common move among 1%’ers, but nonetheless one that doesn’t inspire confidence.

And so on. Secretary Clinton has moved left on immigration (though she wouldn’t badmouth Obama’s draconian deportation policy), on marijuana (though she said medicinal marijuana “needs more research” and gave the “let the states lead the way” hedge on decriminalization), and on gay marriage (she came out in support…last year.) In all of these, she’s lagging behind the country as a whole, much less the Democratic Party.

TL;DR: Secretary Clinton is still, indisputably, the same cautious, methodical, triangulating centrist as ever. And yet, for some reason — even though it’s hard to think of a single solitary stance she’s taken that would move our party in a new and progressive direction — she’s not only the party of the left’s presumptive standard-bearer — For all intent and purposes, she’s running unchallenged!

Politics these days is depressing, and no mistake.

The Grifter Prince.

“Geithner is at heart a grifter, a petty con artist with the right manners and breeding to lie at the top echelons of American finance at a moment when the government and financial services industry needed someone to be the face of their multi-trillion dollar three card monte…After reading this book and documenting lie after lie after lie, I’m convinced that there’s more here than just a self-serving corrupt official. There’s an entire culture, of figures at Treasury, the Federal Reserve, in the entire Democratic Party elite structure, and in the world of journalism, a culture in which Geithner is seen as some sort of role model.”

A late addition to this recent and well-deserved pile-on: Friend and fellow congressional staffer Matt Stoller writes in Vice on Geithner’s Stress Test and the “Con-Artist Wing of the Democratic Party.” “The task of reclaiming democratic power will involve making work at Geithner’s Treasury a black mark on a resume, an embarrassment and a shameful episode…Americans are not stupid, and they saw what Geithner, as the head economic official in a Democratic administration, did.”

Geithner: Wrong on Everything

“At every turn on housing — on mass refinancing, on principal reduction, on leverage for homeowners in the bankruptcy process, on forcing banks to write down mortgages, on a modern-day HOLC–the evidence points to Tim Geithner preferring whatever option put the least pressure on banks, rather than actually helping ordinary people. He made far more excuses to do nothing than any effort to make a difference…In fact, the programs were never meant to help homeowners, designed only to ‘foam the runway’ for the banks, to spread out foreclosures and allow banks to absorb them.”

In the wake of Tim Geithner’s new rehab book tour — currently being aided and abetted by Wall Street’s usual court stenographer, Andrew Ross Sorkin — Dave Dayen says not so fast. “I don’t have to just focus on housing; this is indicative of Geithner’s worldview, which sees protecting the financial system at all costs as the only thing that matters.”

Yves Smith has also ably eviscerated Geithner’s game of “Three Card Monte”: “The entire edifice of the piece is a sleight of hand…The focus on TARP (and to a lesser degree, Lehman) allows Sorkin to omit mention of actions that were clearly Geithner’s doing…The bigger point, which is not lost on the public, was there were plenty of other options for saving the system. The one chosen, that left the banks largely unreformed and no one of any consequence punished, was clearly just about the worst of the available options, unless, of course, you are, like Geithner, a banker.”

And here’re economics and finance professors Atif Mian and Amir Sufi: “Whatever reasons he had for opposing assistance to underwater homeowners, a careful evaluation of the policy effects was not among them. The evidence is pretty clear: an aggressive bold attack on household debt would have significantly reduced the horrible impact of the Great Recession on Americans. The fact that Secretary Geithner and the Obama administration did not push for debt write-downs more aggressively remains the biggest policy mistake of the Great Recession.”

Noam Scheiber has his say in TNR: “[The article] inadvertently highlights something deeper about Geithner, which is the shocking extent to which he’s accepted financialization of the economy as a benign, even admirable, development. The people who spend their days shuffling trillions of dollars around the globe are really just like you and me, except with nicer offices. They deserve the same sympathy and respect, notwithstanding their abysmal track record. That blinkered view colors pretty much every one of Geithner’s utterances as he makes the rounds hawking books.”

Also of note: Geithner doesn’t seem to understand how Social Security works, and, in classic #ThisTown fashion, he — the Secretary of the Treasury! — just parrots the same ignorant Beltway line about zomg out-of-control entitlements as all Very Serious People™ do. To wit, from Geithner’s book:

“I remember during one Roosevelt Room prep session before I appeared on the Sunday shows, I objected when Dan Pfeiffer [a senior advisor to the Obama White House] wanted me to say Social Security didn’t contribute to the deficit. It wasn’t a main driver of our future deficits, but it did contribute. Pfeiffer said the line was a ‘dog whistle’ to the left…code to the Democratic base, signaling that we intended to protect Social Security.”

And here’s the LA Times’ Michael Hiltzik: “But let’s get to the nub. Does Social Security ‘contribute to the deficit’? The answer is, bluntly, no. By law, it can’t contribute to the federal deficit, because Social Security isn’t allowed to spend more than it takes in. Those who claim — as Geithner has at one point or another — both that the program contributes to the deficit yet will be forced to reduce benefits to retirees once its trust fund is depleted are trying to have things both ways: The reasoning behind the threat of reduced benefits is that Social Security can’t engage in spending money it doesn’t have, i.e., deficit spending. Pick one, fellas. If it can contribute to the deficit, then there’s no reason to cut benefits.”

So is there’s anything positive about Geithner’s rewriting of history here? Well, the Sorkin piece does include this telling anecdote: “At another point, [Geithner] cheerfully relayed a story that also appears in his book about the time he sought advice from Bill Clinton on how to pursue a more populist strategy: ‘You could take Lloyd Blankfein into a dark alley,’ Clinton said, ‘and slit his throat, and it would satisfy them for about two days. Then the blood lust would rise again.'”

Could somebody please tell me again why I should be excited about Hillary 2016?

Update: Sheila Bair offers her take. “On his book tour, to explain the need for bailouts, Tim has used a clever analogy of a pilot trying to land a plane that is on fire and in the back, sit the terrorists who started it. He argues that the pilot can’t leave the cockpit to put them in handcuffs. He first has to land the plane. The problem with this analogy is that the plane landed at the end of 2008. And let’s face it, instead of handcuffing the terrorists, we escorted them to the executive lounge.”

“Ronald Reagan’s Benghazi.”

“Around dawn on October 23, 1983, I was in Beirut, Lebanon, when a suicide bomber drove a truck laden with the equivalent of twenty-one thousand pounds of TNT into the heart of a U.S. Marine compound, killing two hundred and forty-one servicemen…Six months earlier, militants had bombed the U.S. embassy in Beirut, too, killing sixty-three more people, including seventeen Americans…In September of 1984, for the third time in eighteen months, jihadists bombed a U.S. government outpost in Beirut yet again. President Reagan acknowledged that the new security precautions that had been advocated by Congress hadn’t yet been implemented at the U.S. embassy annex that had been hit.”

As Republicans continue to lose their minds over Benghazi, to the detriment of all, The New Yorker‘s Jane Mayer puts things in perspective by going back to Beirut ’83. “If you compare the costs of the Reagan Administration’s serial security lapses in Beirut to the costs of Benghazi, it’s clear what has really deteriorated in the intervening three decades. It’s not the security of American government personnel working abroad. It’s the behavior of American congressmen at home.”

See also: the Dubya record on diplomatic attacks — there were over a dozen of ‘em. I know complaining about GOP hypocrisy these days is like complaining about the weather. But honestly, what an egregious waste of time this is.

Net Neutrality? Try Net Neville Chamberlain.

“The FCC has a very simple way to create simple, fair and enforceable rules to protect innovation, free speech and commerce. It lacks the courage and (perhaps) political capital to re-grant itself this power. Lacking this power, the FCC is…allow[ing] Verizon, Comcast and AT&T to create slow and fast lanes…The FCC wants to call this ‘net neutrality.’ It’s nothing of the sort and the proposal needs to be killed. It’s a bargain that will kill innovation on the net.”

At Medium, Ryan Singel explains how Obama’s FCC is giving up on Net Neutrality and endangering the future of the Internet. “Simply put, the FCC is too scared of the big telecoms to do the simple thing and reclassify your ISP as a common carrier. (The midterms are coming up.)…We have to make it clear that destroying the internet in order to save it is not an option, and we can’t and won’t let that happen.”

To be clear, Obama’s FCC, under both Julius Genachowski and now Tom Wheeler, has been completely chicken-shit on this issue from Jump Street. The answer is and has always been to reclassify ISPs as telecommunications services, which they obviously are. But, instead, Genachowski tried to placate the Comcasts of the world and split the baby on this issue in 2010. The result was so ridiculous that the Court rejected his entire plan, and now Wheeler — a former cable lobbyist — is completing the cave.

This also counts as a(nother) blatant and egregious broken promise from President Obama — one so bad that Nancy Pelosi has already broken ranks. Here’s Obama in 2007: “‘The answer is yes, I am a strong supporter of Net neutrality.’…Obama added that companies like Google may not have gotten started without a ‘level playing field’ and pledged to make sure Net neutrality ‘is the principle that my FCC commissioners are applying as we move forward.'” (Cartoon by Cagle.)

The New Gilded Age.

“[This] is, as I hope I’ve made clear, an awesome work. At a time when the concentration of wealth and income in the hands of a few has resurfaced as a central political issue, Piketty doesn’t just offer invaluable documentation of what is happening, with unmatched historical depth. He also offers what amounts to a unified field theory of inequality, one that integrates economic growth, the distribution of income between capital and labor, and the distribution of wealth and income among individuals into a single frame.”

In the NYRB, and in very related news, Paul Krugman sings the praises of Thomas Piketty’s new magnum opus, Capital in the 21st Century. “This is a book that will change both the way we think about society and the way we do economics…Piketty has transformed our economic discourse; we’ll never talk about wealth and inequality the same way we used to.”

As a counterpoint of sorts, CEPR’s Dean Baker — neither a Pollyanna nor a conservative — argues Piketty has picked up some of Marx’s bad habits, and finds the book too deterministic and despairing by far:

“[T]here are serious grounds for challenging Piketty’s vision of the future…the book [suffers from a] lack of attentiveness to institutional detail…In the past, progressive change advanced by getting some segment of capitalists to side with progressives against retrograde sectors. In the current context this likely means getting large segments of the business community to beat up on financial capital…[T]he point is that capitalism is far more dynamic and flexible than the way Piketty presents it in this book. Given that we will likely be stuck with it long into the future, that is good news.”

Update: Galbraith weighs in. “[This] is a weighty book, replete with good information on the flows of income, transfers of wealth, and the distribution of financial resources in some of the world’s wealthiest countries…Yet he does not provide a very sound guide to policy. And despite its great ambitions, his book is not the accomplished work of high theory that its title, length, and reception (so far) suggest.”

Feingold Follows Fossey.

“Feingold has undertaken a dizzying round of talks in at least eight different African capitals, cajoling leaders face to face, negotiating with skittish rebels late into the night and strategizing with fellow diplomats, all in a very uphill effort to stop a long-running conflict in a region littered with failed peace deals. ‘Without a doubt,’ he said over coffee a few hours after the gorilla trek, ‘this is one of the favorite things I’ve ever done in my life.’

Stuart Reid checks in with former Wisconsin Senator Russ Feingold at his current job as John Kerry’s special envoy to the Great Lakes region and the Democratic Republic of the Congo. “‘I really wanted him here at the State Department because I saw him operate on the Foreign Relations Committee,’ Kerry told me. ‘He was the Senate’s expert, bar none, on Africa. He knows the region and the players.'”

A Wagonful of Crooks.

“Attorneys, forensic accountants and consumer advocates have long suspected that banks were systematically creating improper documents to prove ownership of loans. Foreclosure defense lawyers use the term ‘ta-da’ endorsement to describe situations in which they say a document appears, as if by magic, in the bank’s possession as needed in a foreclosure case…The manual…appears to provide step-by-step instructions for a Wells Fargo Home Mortgage ‘Default Docs Team’ and foreclosure attorneys if a blank endorsement is in a file and the attorney wants that note executed.”

In another example of banksters taking notes on a criminal f**king conspiracy, the NY Post get their hands on Wells Fargo’s How-To-Manual for ginning up fraudulent foreclosure documents. “Foreclosure experts called these procedures shocking. ‘It’s an explosive document,’ said forensic accountant Jay Patterson.” Hey, can somebody go to jail now?

Update: Nope, doesn’t look like it. “Four years after President Obama promised to crack down on mortgage fraud, his administration has quietly made the crime its lowest priority and has closed hundreds of cases after little or no investigation, the Justice Department’s internal watchdog said on Thursday.”

But We Didn’t.

“Barack Obama has now been in power for longer than Johnson was, and the question remains: ‘What the hell’s his presidency for?’ His second term has been characterised by a profound sense of drift in principle and policy. While posing as the ally of the immigrant he is deporting people at a faster clip than any of his predecessors; while claiming to be a supporter of labour he’s championing trade deals that will undercut American jobs and wages. In December, even as he pursued one whistleblower, Edward Snowden and kept another, Chelsea Manning, incarcerated, he told the crowd at Nelson Mandela’s funeral: ‘There are too many leaders who claim solidarity with Madiba’s struggle for freedom, but do not tolerate dissent from their own people.'”

In The Guardian, Gary Younge laments anew the missed opportunities of Barack Obama’s presidency. “If there was a plot, he’s lost it. If there was a point, few can remember it. If he had a big idea, he shrank it. If there’s a moral compass powerful enough to guide such contradictions to more consistent waters, it is in urgent need of being reset.”

Sigh. If anything, this was all true of the first term too. As John Maynard Keynes said of another ostensibly progressive president a century ago, “[t]he disillusion was so complete that some of those who had trusted most hardly dared speak of it.”

Rolling in the Deep.

“The Deep State is the big story of our time. It is the red thread that runs through the war on terrorism, the financialization and deindustrialization of the American economy, the rise of a plutocratic social structure and political dysfunction. Washington is the headquarters of the Deep State, and its time in the sun as a rival to Rome, Constantinople or London may be term-limited by its overweening sense of self-importance and its habit, as Winwood Reade said of Rome, to ‘live upon its principal till ruin stared it in the face.’ ‘Living upon its principal,’ in this case, means that the Deep State has been extracting value from the American people in vampire-like fashion.”

In very related news, and in a somewhat overwritten but otherwise worthy piece, former GOP Congressional staffer Mike Lofgren summarizes the problem of America’s Deep State (a term Lofgren did not coin, borrowed from Turkey.) Think the military-industrial complex, now infused with financial sector/Pete Peterson-style rent-seeking. “[This] is not an exposé of a secret, conspiratorial cabal; the state within a state is hiding mostly in plain sight, and its operators mainly act in the light of day.”

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