Gross Compensation

A really bad* article in New York Magazine this week about how our terrifyingly Galt superbankers have a sad because… oh, paging Taibbi. Thank you, sir:

When I read things like this I’m simultaneously amazed by two things. The first is the unbelievable tone-deafness of people who would complain out loud, during a time when millions of people around the country are literally losing their homes, that their bonuses – not their total compensation, mind you, but just their cash bonuses, paid in addition to their salaries and their stock packages – are barely enough to cover the mortgage payments for their new condos, the taxis they take when walking is too burdensome, and their girlfriends with expensive tastes.

The second thing that amazes me is that Sherman is buying all this. I don’t know this reporter at all, and I’m happy to concede that he probably hangs out with more Wall Street people than I do. But I’m still in touch with plenty of people in the business, and I have yet to have any investment bankers crying on my shoulder about how the Dodd-Frank bill is forcing them into generic breakfast cereals.

Now, I’m sure if you put it to them the right way – “Hey, Mr. Habitually Overpaid Banker, do you think Barack Obama and the Dodd-Frank bill are ruining your bonus season?” – you’ll get a good percentage of people who’ll take that cheese and cough out the desired quote.

But in reality? Please. Wall Street people complain a lot, but in the last six months, the grave impact of Dodd-Frank on bonuses hasn’t even been within ten miles of the things these people are really panicked about. The comments I’ve heard have been more like, “My asshole has been puckered completely shut for four months in a row over this Europe business,” or, “If the ECB doesn’t come up with a Greek bailout package, I’m going to have to sell my children for dog food.”


*bad, as in pathetic, whining and, as Taibbi explains, exhibiting a very poor understanding of the article’s own subject and focus. And our banker superhero wealth creators don’t have the sense or sensibility to even deflect this line of questioning in a time of suffering by so many of their fellow citizens. I would say their liberal arts educations failed them, but of course you skip all of that unnecessary language, history, philosophy and humanities when you opt for b-school. Geniuses. It’s almost enough to make one a Calvinist. Almost.

NY mag is ridiculously trashy already, which I know because we have a subscription thanks to one of Mrs. G’s former interns who now works there. But this is quite a combination of unfiltered and mis-aimed fluffing that is so uninformed as to seem subversive. But it’s not.

Thanks, RB.

Birth of a Myth

Leo Hickman in the Guardian explains how climate deniers roll:

Such is the viral nature of information flow on the internet, we can sometimes see myths and memes developing before our very eyes. Just such an example has occurred over recent days with the rather irresistible news that windfarms can “increase climate change“.

The article that really gave this idea a push online was published on Sunday evening on the Daily Mail’s website. It was delivered with the headline: “Wind farms can actually INCREASE climate change by raising temperatures and causing downpours, warn academics.

Somewhat predictably, that headline quickly attracted attention and was being disseminated with particular gusto on climate sceptic sites such as Climate Depot and JunkScience. The news was also reported on Dallasblog.com (“Wind Farms Cause Global Warming, some Scientists say”)

This is all of a piece with Krugman’s dictum, but there’s even more here, how a scientist’s research gets re-purposed, as they say. It’s stupid, really – giant wind farms can alter the weather. But the deniers don’t care about the stupid if it smells like proof; add the possibility of fantastic headlines and presto: a meme is born.

via LGM.

Pink and Green

So… very much of the intertubes is all Komen all the time over the past 24 hours. What I did not know is that their ridiculous disaster scripted right out of the Republican b-school leadership playbook coincides with the release of this film:

Unbelievable lack of awareness. As T-Bogg says, hubris or stupidity. And you don’t have to choose just one…

I can see my house from here

Sorry, Ross. Check out these new images from NASA.

Earth, smaller

Massive version here.

So delicate, so just there, how would you think of defending the tiny blue band of atmosphere holding everything in place?

Hmmm? Hint: not fancy tanks or helicopters>

Self-deportment

Ask not what your country can do for you . Ask when you can get the hell out of your country:

This is the right-wing’s answer to the question of how you deport eleven million unauthorized immigrants: You don’t. You force them to “deport themselves.” Although immigration reform advocates would prefer a solution that involves a path to citizenship for unauthorized immigrants already here, Romney and his top immigration advisers believe they can remove millions of people through heavy-handed enforcement that makes life for unauthorized immigrants intolerable. This approach is notable for its complete lack of discretion and flexibility. Unauthorized immigrant parents with citizen children who need to go to school? Americans who are married to an undocumented immigrant who needs medical treatment? “Self-deportation” hits them all with the same mailed fist.

I would ask what the ___, but that would seem as though I (or you) haven’t been paying attention to these heartless clowns. In fact, the horse meant to carry the rider that has some idea and concern about the future of North American society left the barn long, long ago. I have no idea what they want the country to be like in 10 or 20 years, other than some 1950’s theme park America, which, even if this could be done, begs only more questions. Needless to say, that wasn’t a good time for many people.

And also, the very idea of justice and opportunity as the connection to a better future for them/us seems to have no meaning for the fearful among us. Their right to be fearful, constantly re-enforced by being, and being reminded to be, fearful is in heavy feedback loop mode, I guess blinding some of us to the suffering our laws inflict on the recipients thereof. But the notion that perhaps we don’t mean to be so vindictive and cruel, in addition to being shortsighted and unimaginative, seems to give some us a bit too much credit.

Full and Constructive Use


Martin Luther King, Jr., at Glennville High School in Cleveland in 1967, made available by the Cleveland Plain Dealer.

He really gets rolling into the unique literary gospel oratory that is King and only King. Do yourself a favor and listen to it.

The National Holiday

I posted something about this on the new other place, but a far more elegant rumination was made available by Mr. Pierce. The last graph:

We are all children of the civil-rights movement, whether we want to be or not, whether we are its direct descendants or whether we were adopted into it through the profound changes that movement wrought in the definition of what an American is. We are all children of the civil-rights movement, and this weekend is our national holiday. There is nothing mysterious about that. We make ourselves mysteries to each other because the cost of knowing our solution may be too ugly to bear.

Read the whole thing, because this cannot be hammered enough – and we can be too nice about it. Good thing Johnson decided not to be. But you can see it did not get in the way of his eloquence, which arrives in tact even today.

Democrats and most other decent people (see Venn diagram) are just too damn passive about all the racist crap hardening the arteries of our culture. Enough. It’s killing us and needs to be called out – there is no benefit of the doubt to give to people who poke around with euphemism about ‘other’ people. And there’s barely any euphemism, it’s not even offered with any delicacy any longer – check any group of headlines from the Republican primaries. The nature of this bypass surgery needs the courage of King and the brutal honesty and arm-twisting of Johnson. Celebrate by looking the haters in the eye and not looking away. They already know that you know, and are merely counting on you to let it go. How about taking a break from that?

Civilisations

I’ve been re-reading an old issue of Harper’s Magazine from 2007 that I came across in the home kids office while looking for something else – love when that happens, though it’s something that is being disappeared by our ability to search the internet and find only what we want (but that’s another issue for another Friday).

Anyway, there’s a fantastic article by Pankaj Mishra in that issue, a review of two books on India and China. A man after my own heart, the article is called It’s a round world after all: India, China, and the global economy and Mishra provides full service by going back to the musings of Henry Luce in Time and Life to show how western commentators, governments, markets and financial sectors (currently, we are ruled in all but name by a mash-up of these last three two) have consistently gotten China and India wrong, with vast and mostly irredeemable consequences for all of us. Unfortunately, this fine piece of history and journalism is behind a paywall and hence, will not be our focus right now, but I encourage you to seek it out if at all possible (come hither, internets!).

What I will share is this review by Mishra of Civilisation: The West and Rest by Niall Ferguson, wherein he essentially uses Ferguson’s book to chart the same map – the folly of our solipsistic worldview regarding Asia, history, basically any other people. After starting off with an analogy using my favorite protag and yours, Nick Carraway, for a side riff on Ferguson’s earlier book, the Pity of War, he gets on to the matter at hand:

This wistful vision of an empire on which the sun need never have set had an immediately obvious defect. It grossly underestimated – in fact, ignored altogether – the growing strength of anti-colonial movements across Asia, which, whatever happened in Europe, would have undermined Britain’s dwindling capacity to manage its vast overseas holdings. At the time, however, The Pity of War seemed boyishly and engagingly revisionist, and it established Ferguson’s reputation: he was opinionated, ‘provocative’ and amusing, all things that seem to be more cherished in Britain’s intellectual culture than in any other.

In retrospect, The Pity of War’s Stoddardesque laments about the needless emasculation of Anglo-Saxon power announced a theme that would become more pronounced as Ferguson, setting aside his expertise in economic history, emerged as an evangelist-cum-historian of empire. He was already arguing in The Cash Nexus, published a few months before the terrorist attacks of 11 September 2001, that ‘the United States should be devoting a larger percentage of its vast resources to making the world safe for capitalism and democracy’ – if necessary by military force. ‘Let me come clean,’ he wrote in the New York Times Magazine in April 2003, a few weeks after the shock-and-awe campaign began in Iraq, ‘I am a fully paid-up member of the neoimperialist gang.’

Empire: How Britain Made the Modern World (2003), Ferguson’s next book, appeared in America with a more didactic subtitle: ‘The Rise and Demise of the British World Order and the Lessons for Global Power’. The word ‘empire’ still caused some unease in the US, whose own national myths originated in an early, short-lived and selective anti-imperialism. An exasperated Ferguson – ‘the United States,’ he claimed, ‘is an empire, in short, that dare not speak its name’ – set out to rescue the word from the discredit into which political correctness had apparently cast it. Britain’s 19th-century empire ‘undeniably pioneered free trade, free capital movements and, with the abolition of slavery, free labour. It invested immense sums in developing a global network of modern communications. It spread and enforced the rule of law over vast areas.’ ‘Without the spread of British rule around the world,’ he went on, in a typical counterfactual manoeuvre, colonised peoples, such as Indians, would not have what are now their most valuable ideas and institutions – parliamentary democracy, individual freedom and the English language.

America should now follow Britain’s example, Ferguson argued, neglecting to ask why it needed to make the modern world if Britain had already done such a great job. He agreed with the neocon Max Boot that the United States should re-create across Asia the ‘enlightened foreign administration once provided by self-confident Englishmen in jodhpurs and pith helmets’. ‘The work needs to begin, and swiftly,’ he wrote, ‘to encourage American students at the country’s leading universities to think more seriously about careers overseas.’

Ferguson’s proposed ‘Anglobalisation’ of the world was little more than an updated version of American ‘modernisation theory’, first proposed as an alternative to Communism during the Cold War, and now married to revolutionary violence of the kind for which Communist regimes had been reviled. It makes for melancholy reading in 2011. But in the first heady year of the global war on terror, easy victories over the ragtag army of the Taliban ignited megalomaniacal fantasies about the ‘Rest’ across a broad ideological spectrum in Anglo-America, from Ann Coulter arguing that ‘we should invade their countries, kill their leaders and convert them to Christianity’ to the unctuous ‘Empire-Lite’ of Michael Ignatieff and the ‘liberal imperialism’ peddled by Robert Cooper, one of Blair’s fly-by-night gurus. ‘Islamofascism’ seemed as evil as Nazism, Saddam Hussein was another Hitler, a generation-long battle loomed, and invocations of Winston Churchill – ‘the greatest’, according to Ferguson, ‘of all Anglo-Americans’, his resolute defence of English-speaking peoples commemorated by a bust in the Bush White House – seemed to stiffen spines all across the Eastern Seaboard.

The reception a writer receives in a favourable political context can be the making of him. This applies particularly well to Ferguson, whose books are known less for their original scholarly contribution than for containing some provocative counterfactuals. In Britain, his bluster about the white man’s burden, though largely ignored by academic historians, gained substance from a general rightward shift in political and cultural discourse, which made it imperative for such apostles of public opinion as Andrew Marr to treat Ferguson with reverence. But his apotheosis came in the United States, where – backed by the prestige of Oxbridge and, more important, a successful television series – he became a wise Greek counsellor to many aspiring Romans. He did not have to renounce long-held principles to be elevated to a professorship at Harvard, primetime punditry on CNN and Fox, and high-altitude wonkfests at Davos and Aspen. He quickly and frictionlessly became the most conspicuous refugee from post-imperial Britain to cheerlead Washington’s (and New York’s) consensus.

U.S.A., Inc

The corporatization of American politics continues unabated, of course, except it has achieved hyperspace warp speed from the Citizens United Supreme Court decision. Enter Romney, who I guess is supposed to be the lobbyists’ dream candidate. But do they really want to succeed raising the barriers to entry and eliminate their competition? Eliminate corporate taxes and regulations? Do they believe that’s going to create a healthy economy where their companies will flourish? Wait – they don’t care about those things? What do they care about?

The ever-expanding role of lobbyists in politics is a major victory for corporate America. Overwhelmingly, the companies and trade associations that dominate top-dollar lobbyists’ clientele are seeking to protect their own legislated competitive advantages, including special tax breaks, favorable procurement rules and government regulations that prevent new challengers from entering the marketplace.

Republicans should be acutely aware of the dangers posed by the lobbying community. When insurgents led by Newt Gingrich took over the House after the 1994 election, they were determined to open markets, allow free enterprise to flourish and rid the legal and regulatory system of competitive favoritism.

In practice, just the opposite took place. Gingrich, and especially Tom DeLay, ceded enormous power to Washington lobbyists in what they called the K Street Project. Loyal lobbyists were rewarded with earmarks, leadership support for special amendments and the delegated authority to write legislative provisions.

Shortly before he became House whip in 1995, DeLay created Project Relief, a legislated moratorium on new regulations. He appointed Bruce Gates, a lobbyist for the National-American Wholesale Grocers’ Association, to run the project and Gordon Gooch, a petrochemical lobbyist, to write the first draft of the bill. The bill was then modified by Paul C. Smith, an automobile industry lobbyist, and by Peter Molinaro, a lobbyist for Union Carbide.

That was a remains a real question.

This is Just a Single Clean Post

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