Peter Wallison on Wednesday lamented the poor understanding people have of the underlying causes of the financial crisis, arguing that a false narrative of the crisis led to the Dodd-Frank Act and continues to stymie real reform in the financial sector. Wallison, a member of the Financial Crisis Inquiry Commission and a financial policy expert at the American Enterprise Institute, discussed his recent book Bad History, Worse Policy: How a False Narrative About the Financial Crisis Led to the Dodd-Frank Act during a lunch event hosted by Americans for Tax Reform.
James Carter, Jimmy Carter’s grandson, explained to CNN last night that President Obama enthusiastically thanked him for his support after the president discovered that he helped find the damaging video of Mitt Romney’s “47 percent” remarks during the 2012 election. “Obama said, ‘Hey, great, get over here.’ And then he kind of half-embraced me, I want to say, put his arm around me, and we shook hands. He thanked me for my support, several times,” Carter recalled from an event where he met the president. Carter explained that he found the tape online and sent it to
TODAY is George Washington’s REAL birthday! His REAL birthday was celebrated widely during his lifetime and then became a FEDERAL HOLIDAY already in 1879. Federal law shifted the LEGAL HOLIDAY in 1971 as part of the Uniform Monday Holiday Act to provide for more 3-day weekends for FEDERAL employees. Is that a GOOD reason?! COMMENDATION & GRATITUDE to WCLO RADIO for reminding listeners this morning that TODAY is GEORGE WASHINGTON´S BIRTHDAY! A+ today!! If you want to review more of the life of George Washington, I encourage you to read Wikipedia’s feature article, “George Washington.”
Wearing a bright coat in a vibrant shade of Republican red, Nancy Reagan greeted onlookers with a cheerful wave on an outing in Los Angeles. The former First Lady and Republican Party icon chose the smart red coat to ward off the winter chill as she enjoyed a visit to Beverly Hills eatery Spago yesterday. Mrs Reagan, 91, who suffered a bone-breaking fall at her California home last year, seemed to be in good spirits as she enjoyed a day out under the protective eyes of Secret Service agents. The widow of former U.S. President Ronald Reagan,
In his appearance on MSNBC’s “Morning Joe,” Democratic strategist James Carville was asked what the Republican Party has to do in order to recover. Mr. Carville pointed out that “It’s hard when you’re a congressional party.” What he meant by that is that without a titular head, a party is relatively undisciplined and often sounds cacophonous. The press will focus on the most outrageous statements made by backbenchers, which leads to responsible members of the party often finding themselves with “a fist in your forehead.” That’s a fair point. At the same time
Dead mice laced with painkillers are set to rain down on Guam as scientists attempt to contain two million brown tree snakes which have caused havoc for more than 60 years. Most of Guam´s native bird species are extinct because of the snake, which reached the island´s thick jungles as stowaways on U.S. military ships coming from the South Pacific shortly after World War II. There are fears that without action the species could spread to Hawaii, more than 3,000 miles away and cause a ´snakes on a plane´ scenario. The snakes can climb power poles and wires, causing blackouts,
New Delhi--Two bombs on Thursday killed at least 13 people and wounded about 70 in a busy shopping district in the southern city of Hyderabad at the height of the evening rush hour, the largest terrorist bombing in India since September 2011. (Snip) Asked in a news conference if he believed that Muslim extremists were to blame for Thursday’s blasts, Mr. Shinde said, “We have to investigate. We should not come to conclusion immediately.” In another Twitter message, Mr. Singh said: “I appeal to the public to remain calm and maintain peace.”
Iran on Friday rejected it had committed any "illegal act" in Nigeria after the West African nation´s secret police arrested three Nigerians accused of spying for the Islamic republic. Deputy Foreign Minister Hossein Amir-Abdollahian was quoted in media reports as saying he "rejected Nigerian and Western media reports of illegal activities by the Islamic republic in Nigeria".(Snip) Investigations revealed that Berende, accused of establishing a "terrorist cell" in Nigeria´s southwest, with a particular emphasis on Lagos, recruited the two other suspects for the task, Ogar said. Berende underwent his training in Iran and his Iranian sponsors requested him
Would you put your baby or toddler outside in the freezing cold for their lunchtime nap? Most Nordic parents wouldn´t give it a second thought. For them it´s part of their daily routine. Daytime temperatures this winter in Stockholm have regularly dropped to -5C (23F) but it´s still common to see children left outside by their parents for a sleep in the pram. Wander through the snowy city and you´ll see buggies lined up outside coffee shops while parents sip on lattes inside
John Kiriakou stood in the ninth-floor banquet hall of the Hay-Adams hotel Thursday night and took in the spectacular view of the White House and the Washington Monument. He recalled briefing two presidents during his career with the CIA. “It’s ironic,” he said, spreading his arms as if to embrace the tableau. “This really is the reason I came to Washington 30 years ago in the first place.” But next Thursday he will check into the Federal Correctional Institution in Loretto, Pa., to begin a 30-month sentence for divulging information that prosecutors said could harm his country.
NBC is set to finish fifth for the first time ever in one of television’s all-important sweeps months — bested even by Spanish-language Univisión. It’s a dramatic drop for the network, which came out on top both in last February’s sweeps and in the last round of ratings wars in November.But without its fall anchors, “Sunday Night Football” and “The Voice,” NBC was left with new shows that flopped — “1600 Penn,” “Do No Harm” and a much-promoted new season of “Smash” that has so far failed to click with viewers.
NASHVILLE, Tenn.— A couple who fled Germany with their five children over fears they would lose custody for not sending them to school has asked a federal appeals court to grant them asylum in the U.S. Uwe and Hannelore Romeike (roh-MEYE-kee) claim in court documents that German schools are anti-Christian and the couple believe God wants them to teach their children at home. Germany´s government requires students to attend a state-approved school, and parents who violate the law can face fines, jail and possible custody loss. The 6th U.S. Circuit Court of Appeals decided this week to hear
LOS ANGELES — The unschooled and illiterate former mayor of the scandal-ridden suburban city of Bell had no training that would have alerted him that his huge salary was illegal, his lawyer told a jury in closing arguments. Former Mayor Oscar Hernandez didn´t have a college or high school degree and didn´t even finish elementary school, defense attorney Stanley Friedman said at the corruption trial. Hernandez is among six former Bell city officials charged with misappropriating funds
LAS VEGAS — Police searched Friday for a Range Rover with dark tinted windows and custom rims that set off a fiery crash on the Las Vegas Strip when someone in the luxury SUV opened fire on a Maserati in a scene that onlookers described as worthy of an action flick. Three people were killed and at least six more were injured in what marked the latest in a series of violent episodes in Las Vegas in recent months. Clark County Sheriff Doug Gillespie told reporters the shooting was sparked by an argument in the valet area
Today, Time magazine published “Bitter Pill,” Steven Brill’s 36 page cover story on America’s health care system. But the 24,000 word piece, which is the longest article by one writer ever published in the magazine, was originally going to be the cover of last month’s relaunched The New Republic, reports Huffington Post’s Michael Calderone. And Mr. Brill has no kind words to say about TNR‘s editor in chief and Facebook billionaire Chris Hughes,
Faced with plummeting poll numbers, troubled New Jersey Democratic Sen. Bob Menendez has hired an experienced legal and crisis management team to guide him through numerous allegations of wrongdoing. According to the Legal Times: Menendez, chairman of the Senate Foreign Relations Committee, has enlisted McDermott Will & Emery partner Stephen Ryan, Perkins Coie partner Marc Elias and Vianovo partner Matthew Miller, the former Justice Department spokesman, according to news reports. Ryan, a veteran lobbyist, leads the government strategies practice group at McDermott. Elias heads the political law practice at Perkins Coie.
That 11 million illegal immigrants are present in the U.S. is taken as proof that the system doesn´t work. The immigration system is broken, we are told, and in need of reform. But the truth is, those 11 million illegal immigrants did not enter through the system, they violated U.S. law when they bypassed standard immigration procedures. It´s important to note that they were not encouraged by business to cross the border; they were aggressively supported by government officials. While the Constitution gives Congress the exclusive power to establish a uniform set of rules for naturalization, in reality
Quietly, behind the scenes, the groundwork is being laid for federal government confiscation of tax-deferred retirement accounts such as IRAs. Slowly, the cat is being let out of the bag. Last January 18th, in a little noticed interview of Richard Cordray, acting head of the Consumer Financial Protection Bureau, Bloomberg reported "[t]he U.S. Consumer Financial Protection Bureau [CFPB] is weighing whether it should take on a role in helping Americans manage the $19.4 trillion they have put into retirement savings, a move that would be the agency´s first foray into consumer investments." That thought generates some skepticism,
On January 1, 2013 one third of Republican congressmen, following their leaders, joined with nearly all Democrats to legislate higher taxes and more subsidies for Democratic constituencies. Two thirds voted no, following the people who had elected them. For generations, the Republican Party had presented itself as the political vehicle for Americans whose opposition to ever-bigger government financed by ever-higher taxes makes them a “country class.”
Most of the time foreign policy barely registers on the radar screens of American voters. That´s why it´s easy for Hillary Clinton fans to promote the false notion that she was a first-rate Secretary of State despite her four-year string of failures. "I´ve done what was possible to do," Clinton told reporters just hours before she resigned. Apparently, it was not possible to strengthen our relationships with allies like Britain, Israel, Canada, Mexico, Poland, and the Czech Republic, but easy to throw the Middle East into turmoil. Clinton´s reset with Russia has been a diplomatic disaster.
The ´Argo´ movie illustrations that the CIA used in 1980 to fool Iranian officials into freeing six American hostages have been made available for the first time in decades. The author of the concept illustrations, Jack Kirby, who co-created X-Men, died in 1994 but the man who hired him to draw them lives to tell the true story behind the original ´Argo.´ Barry Ira Geller was an aspiring producer in 1978 when he purchased the production rights to the science fiction novel ´Lord of Light´ by Roger Zelazny, a story set on a faraway planet that was published in
If just the bail hearing is like this in the Oscar Pistorius murder case, the actual trial is going to end up making the O.J. Simpson trial look like a more serious legal exercise than Nuremberg. Reeva Steencamp, whom Pistorius says he mistook for an intruder and shot three times through a locked bathroom door, has only been dead a week. Already you can see there will probably be as much justice for her in a criminal trial as there was for Nicole Brown Simpson. Just off what we have seen already from the South African legal system
Three days before George W. Bush took office in January 2001, President Bill Clinton, with the stroke of a pen, created eight new national monuments that amounted to more than a million acres of land. One of these was the half-million acre Missouri Breaks National Monument in northeastern Montana. Now it appears that groundwork is being laid for more of the same here in Big Sky Country, perhaps during the waning days of President Obama’s second term. National monuments were originally intended to be, well, monuments — small places of historical or geological significance
Twenty years ago, on Feb. 28, 1993, a firefight near Waco, Texas, began a weeks-long confrontation between members of the Branch Davidian sect and agents of the federal government. The conflict culminated at the sect´s compound known as Mount Carmel on April 19, with the deaths, as a fire spread through the buildings, of 80 sect members, including 20 children. Looking over the span of American history, we must be struck by what a radical departure the conflict marked in religious terms. Rather than ask what could have led believers to follow such a bizarre movement,
What do you call a plaintiffs´ attorney who negotiates a settlement that secures $3 million for his clients -- and pays him $14 million for his services? Plenty of words come to mind, but none suitable for publication. Happily, the federal Third Circuit Court of Appeals shares our dismay. This week, the court threw out the settlement, which all told came to $35.5 million. The $18 million remaining after disbursements to the clients and attorneys was to have been paid out as a "cy pres" award -- settlement money that is distributed to charities