So I’ve fallen off with the Friday notes the past couple of weeks, which means the inventory of things left unnoted is a bit of a mess.\u00c2\u00a0 Thus the scattershot approach today:<\/p>\n
I’m not really a fan of either journalist involved, but this Matt Taibbi-Byron York conversation<\/a> about the origin of the financial crisis amused me greatly:<\/p>\n M.T.:<\/span><\/strong> No. That is what you call a figure of speech. I’m saying that you’re talking about individual homeowners defaulting. But these massive companies aren’t going under because of individual homeowner defaults. They’re going under because of the myriad derivatives trades that go on in connection with each piece of debt, whether it be a homeowner loan or a corporate bond. I’m still waiting to hear what your idea is of how these trades work. I’m guessing you’ve never even heard of them.<\/p>\n I mean really. You honestly think a company like AIG tanks because a bunch of minorities couldn’t pay off their mortgages?<\/p>\n B.Y.:<\/span><\/strong> When you refer to “Phil Gramm’s Commodities Future Modernization Act,” are you referring to S.3283, co-sponsored by Gramm, along with Senators Tom Harkin and Tim Johnson?<\/p>\n M.T.:<\/span><\/strong> In point of fact I’m talking about the 262-page amendment Gramm tacked on to that bill that deregulated the trade of credit default swaps.<\/p>\n Tick tick tick. Hilarious sitting here while you frantically search the Internet to learn about the cause of the financial crisis \u00e2\u20ac\u201d in the middle of a live chat interview.<\/p><\/blockquote>\n ~<\/p>\n I went through the Houlton, Maine border crossing to get to Canada last week.\u00c2\u00a0 This is how the process went, as I pulled up in my car next to the booth:<\/p>\n Canada: Hi, folks.\u00c2\u00a0 What’s the length and purpose of your trip to Canada?<\/p>\n Me: Just a bit of fun.\u00c2\u00a0 Camping and cycling up around Cape Breton.\u00c2\u00a0 For a week or so.<\/p>\n Canada: Do you know where you’re going?<\/p>\n Me: I hope so!<\/p>\n Canada:\u00c2\u00a0 Okay, have a good trip.<\/p>\n Me: Thanks! [begins to release the break]<\/p>\n Canada: Oh, wait – you don’t have any weapons or firearms, do you?<\/p>\n Me:\u00c2\u00a0 Nope!\u00c2\u00a0 Bye!\u00c2\u00a0 [and I drive away]<\/p><\/blockquote>\n And this<\/a>?\u00c2\u00a0 This is what folks heading into the US at that same crossing have to deal with on the American side:<\/p>\n Keene Valley resident Jerilea Zempel was detained at the U.S. border this summer because she had a drawing of a sport-utility vehicle in her sketchbook.<\/p>\n U.S. Customs and Border Protection officers told Zempel they suspected her of copyright infringement.<\/p>\n She was released after more than an hour in custody at the Houlton, Maine, port of entry from New Brunswick, Canada.<\/p>\n Her release came only after she persuaded border guards she was an artist doing a project that involved a crocheted SUV as a statement against America’s dependence on oil and love for big vehicles.<\/p>\n<\/blockquote>\n You have<\/em> to click through<\/a> to see the “industrial spy” level drawing.<\/p>\n ~<\/p>\n It’s not its<\/a>.<\/p>\n ~<\/p>\n This dKos post<\/a> reminds us of something we need to be aware of when considering traditional media characterizations of the state of the presidential race:<\/p>\n Every state in which McCain has a lead, even if it’s just 2.2%, is a “leaning Republican”. Every state in which Obama has the lead, even if it’s over 10 percent, is a “battleground”.<\/p>\n [ . . . ]<\/p>\n They are invested in the horserace for ratings purposes, and they are certainly fearful of being accused of pro-Obama bias. So instead of providing an accurate picture for their readers, they misinform them.<\/p>\n I mean, Washington Post really thinks New Jersey is a battleground state? Really?<\/p><\/blockquote>\n Yup.<\/p>\n ~<\/p>\n Who didn’t get that “I bet this is a crock of shit” feeling when McCain trotted out the Joe the Plumber claims at the debate?\u00c2\u00a0 And if you didn’t get it at that moment, I sure hope it came when he was interviewed the next morning.\u00c2\u00a0 In any event, yes, it’s pretty much as fraudulent as you thought it was<\/a>.<\/p>\n\n
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