“Too big to fail has become too big for trial”

Susie Madrak has been following new-elected US Senator Elizabeth Warren’s performance at the first meeting of the Senate Banking Committee and says she proved her worth by putting regulators on the spot about why they go aggressively after powerless defendants while allowing big banks to make deals with them by paying fines that are just included as the cost of doing business and do nothing to deter future wrongdoing. [Read more…]

Good analysis of The Birth of a Nation

Via reader Walter, I came across this excellent review by Richard Brody of D. W. Griffith’s 1915 film The Birth of a Nation. Like him, I was both appalled at the racism of the film (especially in the second half that traced the events following the Civil War and dealt with the period known as the Reconstruction), while impressed with the way the filmmaker used techniques to manipulate the viewer. If you want to see a clear demonstration of the power of film as a propaganda weapon in skilled hands that can tug the viewer to sympathize with people and views that are abhorrent, this is the film to see. [Read more…]

Academics behaving badly

Academics tend to be respected because of their reputations for having expert knowledge and some level of objectivity. As a result they are often sought as endorsers for various positions. I have written many times before of the danger that exists when that esteem is abused. This danger seems to be most present in the field of economics and medicine, not coincidentally because there is a lot of money at stake there. [Read more…]

Parting fools from their money

I have written extensively about the fact that the Republican party is increasingly out-of-step with what the country is thinking, especially as a result of demographic changes and that its main problem is that its base has been fed a steady diet of rhetoric against women, minorities, immigrants, and LGBT groups for so long that taking that food away from them is likely to provoke howls of anger. [Read more…]

Two steps forward, one step back

I have been highlighting the progress that has been made in advancing acceptance of the LGBT community as deserving of the same rights and privileges as everyone else. But it is only fair to point out that there are still pockets of deep resistance and homophobia. For example, some parents and students and at least one teacher at an Indiana high school want to organize a prom that will be open to only heterosexual students. The reasons given are, of course, religious. [Read more…]

An insider’s view of how the bailout fix happened

Neil Barofsky was a career federal prosecutor who was appointed by George W. Bush at the end of 2008 as the Special Inspector General overseeing the Troubled Asset Relief Program (SIGTARP) that was a major part of the bailout program following the financial collapse, and he continued in that role under president Obama until he resigned in March 2011. [Read more…]