This was a busy damn night. Lots of stories to cover, plus the Special Comment.
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Here's what Attorney General Holder said today in his statement: "Holder also stressed that intelligence community officials who acted reasonably and relied in good faith on authoritative legal advice from the Justice Department that their conduct was lawful, and conformed their conduct to that advice, would not face federal prosecutions for that conduct."
If evidence emerges of bad faith in torture sessions, then those staffers may well face legal consequences. Ditto if the legal advice was given in bad faith, along Nuremberg lines, Yoo and Bybee should start sweating. That's why the internal OPR report on the legal professionalism of the torture lawyers is so crucial and why it is being fought over so fiercely. If Yoo and Bybee's memos were so below legal standards that they can be objectively shown to be a means to get away with torture rather than good faith effort to apply the law to proposed torture techniques, then they too acted in bad faith. And they too are war criminals.
Despite recent reports to the contrary, Spain’s attorney general has now reportedly decided not to prosecute the Bush Six — the top legal officials in the Bush administration who allegedly approved the torture of terror suspects. Attorney General Candido Conde-Pumpio said that the United States would be the proper forum for such a case.
"I think that the decision to raise taxes by 50 percent in Illinois is political suicide," Kirk said of Quinn's proposal to raise the tax rate to 4.5 percent from 3 percent, coupled with an increase in the personal deduction. "I think the people of Illinois are ready to shoot anyone who is going to raise taxes by that degree."
Sen. Tom Coburn (R-Ok.) said this week that the administration will try “all sorts of things” to chip away at the individual right to own a gun, warning of gun control policies aimed at “disarming us.”
Speaking at a town hall meeting in Cushing, Oklahoma, Coburn warned that Attorney General Eric Holder “doesn’t believe in the second amendment” and “doesn’t even know what an assault weapon is.”
“He doesn’t believe in our right to own and hold a gun,” Coburn said of Holder, whose nomination he vigorously opposed. “He doesn’t believe the Second Amendment means it’s a right for me to have a gun to protect myself.”
| The Daily Show With Jon Stewart | M - Th 11p / 10c | |||
| Elizabeth Warren Pt. 1 | ||||
| thedailyshow.com | ||||
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| The Daily Show With Jon Stewart | M - Th 11p / 10c | |||
| Elizabeth Warren Pt. 2 | ||||
| thedailyshow.com | ||||
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Yeah, let's link our deadly enemy, the one we might have to go to war with, with the duly elected President of the United States.
And yes, the sign says "While Some Kenyan tries to Destroy America". Forget the "In Living Color" quote.
Anything to make the President look alien and foreign.
Apparently, it was from Chicago.
Are you sure you want to go there?Franken’s discipline: By the way, and it's a point we've made before, but it's been pretty impressive how Franken has been so disciplined during this recount period. Indeed, until last night, when had we heard from him. Clearly, the GOP thought they were dealing with the stereotype that was Al Franken -- not the guy who proved to be a candidate who, well, got more votes than Norm Coleman. In fact, this has been a problem for the GOP in general the last few years when it comes to dealing with Democrats: They believe their own stereotypes about their opponents, rather than actually dealing with their opponents at face value.
It requires serious mental gymnastics to describe the Obama administration — particularly the Obama administration of recent weeks, which has given away billions to Wall Street and bent over backwards to avoid nationalization and pursue a policy that preserves the private for-profit status of the bailed-out banks — as a militaristic dictatorship of anti-wealth, anti-private property forces. You have to somehow explain the Geithner/Paulson decisions to hand over trillions of taxpayer dollars to the rich bankers as the formal policy expression of progressive rage against the rich. Not easy. In order to pull off this argument, in fact, you have to grease the wheels with a lot of apocalyptic language and imagery, invoking as Beck did massive pictures of Stalin and Orwell and Mussolini (side by side with shots of Geithner, Obama and Bernanke), scenes of workers storming the Winter Palace interspersed with anti-AIG protests, etc. — and then maybe you have to add a crazy new twist, like switching from complaints of “socialism” to warnings of “fascism.” Rhetorically, this is the equivalent of trying to paint a picture by hurling huge handfuls of paint at the canvas. It’s desperate, last-ditch-ish behavior.
...
But actual rich people can’t ever be the target. It’s a classic peasant mentality: going into fits of groveling and bowing whenever the master’s carriage rides by, then fuming against the Turks in Crimea or the Jews in the Pale or whoever after spending fifteen hard hours in the fields. You know you’re a peasant when you worship the very people who are right now, this minute, conning you and taking your shit. Whatever the master does, you’re on board. When you get frisky, he sticks a big cross in the middle of your village, and you spend the rest of your life praying to it with big googly eyes. Or he puts out newspapers full of innuendo about this or that faraway group and you immediately salute and rush off to join the hate squad. A good peasant is loyal, simpleminded, and full of misdirected anger. And that’s what we’ve got now, a lot of misdirected anger searching around for a non-target to mis-punish… can’t be mad at AIG, can’t be mad at Citi or Goldman Sachs. The real villains have to be the anti-AIG protesters! After all, those people earned those bonuses! If ever there was a textbook case of peasant thinking, it’s struggling middle-class Americans burned up in defense of taxpayer-funded bonuses to millionaires. It’s really weird stuff. And bound to get weirder, I imagine, as this crisis gets worse and more complicated.
1) Is [said attack] unique to Obama. Is it a phrase we’ve never heard before applied to any other president or is it something we haven’t heard in recent memory?
For example: he’s not an American citizen or he’s a socialist who’s planning re-education camps for young people.
2) Is [said attack] illogical or impossible. Does the assertion plainly contradict the facts?
For example: not an American citizen, socialist, tax raiser, re-education camps for young people.
3) Is [said attack] repeated, over and over, by a desperate person whose team lost badly in the last election and who adopts a wide-eyed, credulous, nodding stare pronouncing the lie slowly, precisely, with a watchful eye to see if the listeners are buying it.
For example: not an American citizen, socialist, elitist, drug seller, tax raiser or terrorist. (aka, the entirety of the Glenn Beck Show)
Optional: Does the assertion cause nervousness, embarrassment or confusion among non-blacks (who are listening to said attack)? When other white people such as Tom Brokaw or John Stewart sense something wrong and start to ask questions like "Do you really believe that?," you know for sure you’re in the racist attack zone.
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Visit msnbc.com for Breaking News, World News, and News about the Economy
Therefore, [President Obama] said, he is offering GM and Chrysler "a limited period of time to work with creditors, unions and other stakeholders to fundamentally restructure in a way that would justify an investment of additional tax dollars."
He expressed confidence that "this restructuring, as painful as it will be in the short-term, will mark not an end, but a new beginning for a great American industry."
He said he was "absolutely confident that GM can rise again, providing that it undergoes a fundamental restructuring." He stressed that the U.S. government "has no intention of running GM."
If GM is unable to restructure and Chrysler cannot strike a deal with Fiat, they might need to use the bankruptcy code "as a mechanism to help them restructure quickly and emerge stronger," Obama said. He said that could enable the companies to "quickly clear away old debts that are weighing them down," even as their workers remain on the job.
"What I am not talking about is a process where a company is simply broken up, sold off and no longer exists," he said. "And what I am not talking about is having a company stuck in court for years, unable to get out."
“Our strong preference is to complete this restructuring out of court,” GM said in a statement issued after Obama’s speech on the U.S. auto industry. “However, GM will take whatever steps are necessary to successfully restructure the company, which could include a court-supervised process.”
[GM] has loads of debt. The most recent quarterly results indicate long-term debt of more than $29 billion. And since the firm's credit ratings have been pushed deep into junk territory, that means most of the holders of this debt are hedge funds, private-equity firms, and other investment vehicles. (Many mutual funds and institutional investors like pensions or insurance companies eschew junk debt.)
GM's debt is trading at what is euphemistically called "distressed levels." As indicated here, bonds due in less than two years are trading at 20 cents on the dollar.
Many of those who bought GM's bonds did so because they hoped to 1) convert the debt into ownership in the case of bankruptcy filing or 2) see the bonds rise in value should the government step in and formally guarantee GM's corporate debt.
Obama made clear today what they suspected: No such guarantee would be forthcoming. While GM had tried to restructure, Obama noted, it hasn't yet done enough. "I'm absolutely confident that GM can rise again, providing that it undergoes a fundamental restructuring. Have they cleaned up their balance sheets, or are they still saddled with so much debt that they can't make future investments?" (If you answered this double question with a no and a yes, you're right!) The upshot: Holders of GM's debt, like other entities to whom GM has made financial commitments—dealers, the auto unions—are going to have to cut a deal, sooner rather than later, and accept less than they think they're entitled to. None of that AIG-creditor treatment for you.