The Joke is On Us: Super PACs, Money and Democracy

February 1st, 2012

Like the rest of America, I laughed until my ribs hurt at the antics of Jon Stewart and Stephen Colbert as they brought the issue of corporate money in politics into the national spotlight. The Definitely Not Coordinating with Stephen Colbert Super PAC, which viewers can tell you is definitely NOT coordinating with Stephen Colberts presidential campaign, has shown the true hypocrisy of the Super PAC phenomenon that was set in motion by the Supreme Court ruling two years ago last week.

In case you arent yet aware, Super PACs are the barely regulated version of the traditional political action committees that existed before the Citizens United v. Federal Election Commission decision....

Rabbi’s Followers Cast Doubts on Congressman’s Fund-Raising

January 31st, 2012


Soon after he began running for Congress in 2009, Michael G. Grimm, a Staten Island Republican, needed to convince party leaders in Washington that he could raise enough money to become a viable candidate. Seeking help, he turned to an unlikely source: followers of an Orthodox rabbi and mystic from Israel.

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Pro-Newt Gingrich Ad ‘Blood Money’ Bashes Mitt Romney For Role In Medicare Fraud

January 31st, 2012

Winning our Future, the Newt Gingrich-allied super PAC, is set to release another anti-Mitt Romney short documentary, this time focused on Bain Capitals involvement with a company guilty of Medicare fraud.

The video will be much shorter than the groups previous effort — a nearly 30-minute long video titled King of Bain, which focused broadly on Romneys private equity days. This one will be seven to eight minutes in length, according to Winning our Futures executive, former Gingrich press secretary Rick Tyler.

And it will focus strictly on Damon Corporation, Tyler added.

Damon Corp. was a Massachusetts-based medical testing company that pleaded guilty to defrauding...

Louisiana’s new education chief visits Bossier school

January 30th, 2012

John C. White, Louisianas newly appointed Superintendent of Education, speaks with 7th-grader Michael Norris during a recent visit to Cope Middle School. In the background is principal Judy Grooms. / Jim Hudelson/The Times

At 47, Bernard Hopkins knows the end is finally near

January 30th, 2012

Its a freak of nature, and when Hopkins looked eye-to-eye, and, well, eye-to-eye again, at the mounted head, it made him contemplate what other kind of absurd animal roamed in the wild. Why couldnt a cow with three heads be alive and mooing?

Hopkins has never been afraid to look at life differently from the rest of the pack.

Imprisoned as a teen, the oldest fighter to ever win a major championship at 46, Hopkins long ago stopped worrying about what society thinks. When the critics howl he should quit, or a promoter tells him his last pay-per-view fight bombed, Hopkins just ditches the Prada glasses and button-down designer vest and suit, steps again through the ropes...

Gov. Jindal eyes education overhaul

January 29th, 2012

Citing recent progress in infrastructure, employment and ethics-related bills in the legislature, Louisiana Gov. Bobby Jindal is now focusing his efforts to improve public education with significant reform proposals.

Its a topic – buoyed by declining school test scores – that has initiated comprehensive structural changes in several states, with many more eyeing the developments.

Speaking at the Louisiana Press Association luncheon in West Monroe Thursday, Jindal, recently sworn in for his second term, said childrens future and the economic prosperity of the state are at stake.

The way forward is for more choices. Our children grow up only...

College presidents wary of Obama’s cost-control tuition plan

January 29th, 2012

President Obamas new plan to force colleges and universities to contain tuition or face losing federal dollars is raising alarm among education leaders who worry about the threat of government overreach. Particularly sharp words came from the presidents of public universities; theyre already frustrated by increasing state budget cuts.

The reality, said Illinois States Al Bowman, is that simple changes cannot easily overcome deficits at many public schools. He said he was happy to hear Obama, in a speech Friday at the University of Michigan, urge state-level support of public universities. But, Bowman said, given the decreases in state aid, tying federal support to tuition...

Couldn’t Stephen Hester do something better with his money?

January 28th, 2012

I see Stephen Hesters bonus is still dominating the news agenda. I wrote on the politics of it yesterday, but today Ive had another thought. What Ive found myself wondering is this: who on earth needs that much money anyway? Mr Hesters pay is called an incentive, but at some level of pay, it must stop being an incentive and start being a disincentive. At some point, you must start accumulating wealth so quickly that you want to stop working and start spending.

Since starting at RBS in 2008, Mr Hester has been paid something like £4.8 million in basic pay, before we even consider his bonuses. Surely he has something better to do with all that money than carrying on working as a banker?...

State, education group announce settlement

January 28th, 2012

Charles Wohlforth, Executive Director of Citizens for the Educational Advancement of Alaskas Children, right, signs a settlement agreement with Mike Hanley, Commissioner of Education and Early Development, in the Moore v. State of Alaska case at the Attorney Generals office in Juneau on Thursday.

The case for unwinding Fannie and Freddie

January 28th, 2012

(CBS News)

If lawmakers could design a housing policy from scratch what might it look like?

Today Fannie Mae and Freddie Mac–two government-sponsored enterprises originally designed to increase the availability of loans and thereby raise levels of home ownership–dominate the US mortgage lending market. Fannie Mae, which was established in 1938 as part of Franklin Delano Roosevelts New Deal, provides local banks with federal money to finance home mortgages. Freddie Mac, created in 1970, underwrites mortgages that fall below a certain size threshold with the intention of helping homeowners get access the housing market. These mortgages are cheaper since they implicitly–and...

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