Friday’s Mini-Report

Today’s edition of quick hits.

* Another unpleasant day for market-watchers: “Wall Street’s angst over the ongoing fallout from the credit crisis made for a turbulent end to a volatile week Friday — stocks tumbled, soared and then turned south again as investors tried to assess the dangers faced by the country’s biggest mortgage financiers, Fannie Mae and Freddie Mac. The Dow Jones industrial average, which traded down more than 250 points in the session, briefly moved into positive territory Friday before resuming its decline. The blue chips also fell below 10,000 11,000 for the first time in two years before recovering.”

* Oh, and the price of a barrel of oil topped $147 for the first time, too.

* A large ice plate is “hanging by its last thread” to Antarctica.

* NYT: “Turkish police have now detained 10 suspects in the armed attack on the United States Consulate on Wednesday that killed six people, the governor of Istanbul said Friday.”

* There’s been a lot of buzz about this story, but the Bush Administration is denying earlier reports: “It looks like the story that the Bush administration pressured the German government to nix an Obama speech at Berlin’s historic Brandenburg Gate is getting shakier. The Treasury Department has just told me that stories in the German press saying that a Treasury official expressed open hostility to the idea are ‘not an accurate reflection of what he said.'”

* More on this tomorrow: “The Bush administration today disavowed its own proposal to seek comment on whether the government should regulate greenhouse gas emissions under the Clean Air Act, declaring that the proposed approach would be unworkable.”

* Good: “The Bush administration was dealt a setback on Friday in its efforts to keep records of White House visitors under wraps when an appeals court refused to throw out a lawsuit seeking access to the material. The United States Court of Appeals for the District of Columbia Circuit ruled that it would be premature to consider reversal of a lower court ruling last December that the White House visitor logs were public records, and that the administration should stop withholding them from scrutiny by outside groups.”

* The president apparently intends to veto the just-passed Medicare bill. It’s a fight against congressional Democrats that Bush is almost certain to lose.

* Interesting: “The chief prosecutor of the Internationals Criminal Court will seek an arrest warrant Monday for Sudanese President Omar Hassan al-Bashir, charging him with genocide and crimes against humanity in the orchestration of a campaign of violence that led to the deaths of hundreds of thousands of civilians in the nation’s Darfur region during the past five years, according to U.N. officials and diplomats.”

* Lawrence Lessig thinks the netroots are overreacting on FISA: “The hysteria that has broken out among we on the left in response to Obama’s voting for the FISA compromise was totally predictable. Some more cynical types might say, so predictable as to be planned. National campaigns are dominated by people who believe a leftist can’t be elected to national office. That means events that signal a candidate is not a leftist are critical for any election to national office.”

* Here’s a concept I can get behind: “Media Trolls.”

* Republicans are finding new and creative ways to lie about the Chinese drilling for oil in Cuban waters.

* It was only a matter of time before conservative media personalities began telling us how right Phil Gramm is about the strength of the economy. Weekly Standard executive editor Fred Barnes is just a little ahead of the curve.

* Vermonters may be pleased to learn that the award-winning Candleblog has been redesigned. It’s fancy, now.

* And finally, let’s just say Fox News isn’t having a very good year: “Fox News desperately needs a fact checker in its graphics department. MSNBC’s David Shuster caught this gem from a Fox report on the Iranian missile tests. The graphic that Fox used to identify the Strait of Hormuz put the strait in the wrong location, and misspelled ‘strait.’ For good measure, the Fox reporter also mispronounced ‘Hormuz.'”

Anything to add? Consider this an end-of-the-day open thread.

Bad link on the Antarctica bullet point.

Are we really supposed to beleive anything the Bush Treasury Department says over anything anyone else says? That sounds more like CYA .

  • Would Becoming a Strange Bedfellow be up your alley?

    Doubtless many of you have heard of this, but just in case:

    Strangebedfellows is a unique and diverse left–right coalition which has come together to put a stop to the eradication of civil liberties in America. Modeled on a similar group in Britain, the initial Strangebedfellows group encompasses Ron Paul supporters (BreakTheMatrix.com, Rick Williams and Trevor Lyman), leading bloggers from the left (Glenn Greenwald of Salon.com, Jane Hamsher of firedoglake.com) and many more who share the view that warrantless surveillance, telecom immunity and other such outrages of the lawless surveillance state MUST END—AND END NOW. Our group of Strangebedfellows is organizing a moneybomb on behalf of AccountabilityNowPAC, and we’re reaching out to friends and colleagues from across the political spectrum who believe in the Bill of Rights and freedom in America. So join us– become a Strangebedfellow! Add your name and group to our list of backers, and enter your pledge today to donate to AccountabilityNowPAC. Let’s reverse these police state sellouts by our political leaders—FOREVER.

  • Lawrence Lessig thinks the netroots are overreacting on FISA:

    One of those wise pundits. Idiot. You’d think that after the conventional wisdom has led to so many Dems losing, someone would try not to be conventional. I had hoped it would be Barack, but he’s going right along with it. I hope the Repubs are bad enough and he is good enough to overcome that and win.

    Hey the good news on Obama fund-rasiing is that the average donation has gone up. That’s because the small donors are closing their checkbooks after the Fixa vote. Obama is dribbling right and conventionalwisdom is waiting there to slap the ball away.

    The main thing I liked about Obama was his competence. Fixa sorely tests that theory.

  • Kudos to CD for being 99.9% AP-free.

    nicole said:Would Becoming a Strange Bedfellow be up your alley?

    Thanks nicole that’s a great organization. Progressives need new friends.

  • Lessig couldn’t even get his facts straight on FISA claiming that it is not a bad bill because it now gives the courts oversight on Bush’s spying powers so he will not be able to illegally break the spying laws when it does just the opposite. Of course destroying the fourth amendment would have predictable consequences from the civil liberties groups and liberals…DUH …yes, to the point of being predictable. Why yes. It’s amazing how deeply some people will search to find reasons to justify Obama’s horrible decision. Yes we still intend to vote for him over McCain but stop blowing smoke up our butts to show good cause for the FISA capitulation. Lessig should read the one who has followed this in depth and supports all his conclusions with the facts…glenngreenwald@salon.com. Perhaps he would be less inclined to make false statements about what FISA actually does.

    Naomi Klein has the best book on what is happening to our society that has come out…ever. Right now crooks & liars has and interview with her about her new article showing how high gas and food prices and the housing crises is being used as the “shock” that goes along with disaster capitalism. You can expect much more of this till we get Bush out of office. Here is a representative sentence from her interview/article:…

    “…This is the President as Extortionist in Chief, with gas nozzle pointed to the head of his hostage–which happens to be the entire country. Give me ANWR, or everyone has to spend their summer vacations in the backyard. A final stickup from the cowboy President…”

    check it out

  • Oh, and the price of a barrel of oil topped $147 for the first time, too

    The current $10 a barrel jump was caused almost entirely by the competing war games and ensuing rhetoric between the Bushies/Israel and Iran.

    That’s a talking point Obama should push and push hard. The more beligerent we are towards Iran the higher oil goes. If we were to sit down and actually TALK to them the price of oil would almost certainly decline.

    Show how Bush’s and McCain’s strategies are hitting people square in the pocket book TODAY.

  • President Bush has lowered the value of an American life by about $1M per person for each of 300M Americans the AP reports today.

    By his calculation and by reducing the cost benefit ratio the EPA uses to gauge Clean Air, Bush has saved the Country $300,000,000,000,000 which now can be used for really cool things like funding to occupy Iraq for 100 years, an invasion of Iran (no money need be allocated for an occupation of Iran because we will be greeted as liberators), privatization of Social Security and new tax cuts, some other awesome things.

    Besides who needs to waste all that $ on things like clean air anyways.

  • Oil is going up to $200/barrel. They’ve already told us to expect it. What is the point of reporting each new high as if this had anything to do with a market?

  • What’s wrong with our air? It’s cleaner than it’s ever been since the Industrail Revolution. And don’t try to refute that with bogus EPA measures about air quality violations or “out of compliance” because the EPA just lowers the threshold every time it is met. The fact is, based on raw numbers, our air is cleaner than ever.

    On Iran: what do you want to talk about? They want Israel gone, period, and no other solution is acceptable to them. Doesn’t sound like we have a basis for negotiation there. You really think that trying to have a rational conversation with a regime that denies the Holocaust and says things like “there are no gay people in Iran” will lead anywhere? Please, tell me how. We do need to do more talking with the world in general, but this is not the place to start. We should spend our diplomatic energy trying to rehab our relationship with Russia, who has threatened us with direct military action if we expand our presence in Poland.

  • What is the point of reporting each new high as if this had anything to do with a market?

    It gives us another chance, our dear control freak, to remind you that Benen can write about anything he likes on his blog and that you’re free not to read it.

  • Russia and China veto U.N. Zimbabwe sanctions

    Im pissed….. i mean Darfur, Zimbabwe, Myanmar and so many others are being denied basic human rights!

    China should not even have a vote, they are the worst violators of human rights

    i am done with the U.N this is just too f*cked up

    After Hitler people learned the truth of human rights

    They promised never again…

    but it looks like its just going to get started….. It’s like global suicide

  • sh….Aaron. Dood the air is cleaner today than it was 40 years ago in the US of A due to the Clean Air Act.

    Its that simple, but your boy George ain’t all that happy with the clean air act, now is he?

  • Just another Crazy Uncle? It has been widly reported that Michelle Obama practically grew up in Jesse Jacksons house,and is best friends with one of Jesse Jacksons daughters! Jesse Jr is one of Obamas campaign directors, and one of Jesse Jackson kids is one of Barack Obamas daughters god parents.Do not be so Niave people,This is the Politics of Chicago and the Politice of Obama!We are all aware that the Obama Campaign uses the race card anytime it is convenient for the Obama Campaign, as it usually always benefit’s none other then the Obama campaign.This is just another example of another long time Obama cohort { Reverend Wright, Father Pfleger, and now Jesse Jackson } making racial statements to deflect attention away from a very problematic time in the Obama campaign. By Jesse Jackson taking this hit in the media,he is getting all the media’s attention off of all the talk of Obama breaking his major campaign promises, in particular The FISA Bill, which Obama had promised his supporters that he would against and decided to vote for the FISA BILL.Yes he has broken another major campaign promise, and has had a very tough week or two, as he has been taking a lot of heat from the media, and even his own supporters. To “deflect” the attention away from Obamas political inexperience, and his FISA Vote yesterday, It is just a little to convenient for The Obama Campaign, headed by Jesse Jackson JR. by the way, that comments made by Jesse Jackson Sr. made Sunday suddenly broke yesterday.Just after Obamas key vote supporting President Bush’s FISA Bill that had been threatening to break even Obamas staunchest of supporters. As of yesterday Obama was being criticized daily by media outlets and supporters alike, about the many flip flops made by the Candidate of Hope and Change, and now even Jesse Jr. came to Obamas defense “Ripping” Jesse Sr’s words, thus successfully deflecting the media attention away from Obamas Hard move to the right! Well played Camp Obama. Now all the pundit’s are talking about is Jesse Jackson not Barack Obama.This is not the Politics of Change, nor is it mere Politics as usual, This is the Politics of Obama. If anyone would like to see how deeply Jesse Jackson is planted in the Obama campaign, go to C-Span and watch the JUNE 29 TH Rainbow Coalition tapes, where you can watch Jesse Jackson and other African American leaders planning the first 30 day’s of The Obama presidency.To bad that it has not been reported how Jesse Jackson Jr. has been treating any elected delegates that did not support Obama thru out this election season.

  • Oil is going up to $200/barrel. They’ve already told us to expect it. What is the point of reporting each new high as if this had anything to do with a market? — Mary, @11

    Oh, I don’t know… Just to give us something to whine about?

    My husband likes to watch the price of oil for some reason; seems to think that it is related to the market — and his retirement fund — in some way. But I don’t worry *my* pretty head about it

    Actually, what I’d *really* like to see is for Benen to — also — post, with every New! Improved! per barrel price, a reminder of *what it had been*, at the start of Bush’n’Cheney’s rape of America ($35, IIRC). Just to give us a perspective on what can be achieved, if one is diligent enough. And as a warning of what McSame’s continuation of the same — saber rattling — policies is likely to bring. $250? $300? The sky’s the limit with Grandpa Depends…

  • More bad economic news: Federal Regulators today seized IndyMac Bancorp. Here’s the FDIC page regarding the situation for IndyMac customers.
    This is the largest bank closure since the S&L crisis and the second largest since 1934. But it’s all in your heads, folks, so quit whining and vote Republican.

  • Jerzy Ernie, @19

    As one Polak to another… Despite all the jokes…just because you’re a Polak, doesn’t mean you *have to* be stupid or illiterate, you know. Some of us are trying to fight that stereotype and you’re not helping at all.

  • A friend sent me this and it cracked me up. Some businesses have all the luck:
    Obama’s Chocolate Nuts. You can also purchse “McCain’s dried papaya stick” at the same site. Just aweful! Where’s the dignity? Giggle nonetheless.

  • I’ll take your end-of-the day open thread and raise you a House Resolution. (This is sure to revive Congressional approval ratings currently on life support…)

    110th CONGRESS, 2d Session, H. RES. 984
    Expressing support for the designation of July 26, 2008 as `National Day of the Cowboy.’

    Whereas pioneering men and women, known as cowboys, helped establish the American West;
    Whereas the cowboy embodies honesty, integrity, courage, compassion, respect, a strong work ethic, and patriotism;
    Whereas the cowboy spirit exemplifies strength of character, sound family values, and good common sense;
    Whereas the cowboy archetype transcends ethnicity, gender, geographic boundaries, and political affiliation;
    Whereas the cowboy is an excellent steward of the land and its creatures;
    Whereas the cowboy lives off the land and works to protect and enhance the environment;
    Whereas cowboy traditions have been part of the American culture for generations;
    Whereas the cowboy continues to be an important part of the economy, through the work of approximately 727,000 ranchers in all 50 States, and contributes to the well-being of nearly every county in the Nation;
    Whereas annual attendance at professional and working ranch rodeo events exceeds 27,000,000 fans, and the rodeo is the 7th most watched sport in the Nation;
    Whereas membership and participation in rodeo and other organizations that promote and encompass the livelihood of the cowboy spans race, gender, and generations;
    Whereas the cowboy is a central figure in literature, film, and music, and occupies a central place in the public imagination;
    Whereas the cowboy is an American icon; and
    Whereas the ongoing contributions made by cowboys and cowgirls to their communities should be recognized and encouraged: Now, therefore, be it

    Resolved, That the House of Representatives–
    (1) expresses support for the designation of a `National Day of the Cowboy’; and
    (2) encourages the people of the United States to observe the day with appropriate ceremonies and activities.

  • Even Digby thinks Obama’s campaign strategy is messed up.

    She shares my opinion that he will not be taking many principled stands, that he wasn’t much to begin with as a progressive or traditional Democrat, and she as much as says he will likely not be able to whip up the same frenzy in the Fall now that people are learning who he really is. Maybe you’ll listen when Digby says it. The only problem is that she is saying it when it is too late to have chosen someone better.

    I like Digby but I wish she had more guts.

  • The only problem is that she is saying it when it is too late to have chosen someone better.
    Edwards may have been the more progressive candidate but the media was too caught up in the Clinton/Obama narrative for him to have a chance. I’m sure that by “someone better” you did not mean Clinton whose credentials as a progressive are non-existent and who is as much a traditional Democrat as Joe Lieberman.

  • In case you missed this in the Equal Pay for Equal Work thread, here it is again.

    According to MSN Money:

    http://moneycentral.msn.com/community/message/thread.asp?board=PoliticsandtheMarkets&threadid=711674&boardname=Hide&header=SearchOnly&footer=Show&linktarget=_parent&pagestyle=money1

    “On average, women working in Obama’s Senate office were paid at least $6,000 below the average man working for the Illinois senator. That’s according to data calculated from the Report of the Secretary of the Senate, which covered the six-month period ending Sept. 30, 2007. Of the five people in Obama’s Senate office who were paid $100,000 or more on an annual basis, only one — Obama’s administrative manager — was a woman.

    The average pay for the 33 men on Obama’s staff (who earned more than $23,000, the lowest annual salary paid for non-intern employees) was $59,207. The average pay for the 31 women on Obama’s staff who earned more than $23,000 per year was $48,729.91. (The average pay for all 36 male employees on Obama’s staff was $55,962; and the average pay for all 31 female employees was $48,729. The report indicated that Obama had only one paid intern during the period, who was a male.)”

    The $11,000 Mabelle referred to comes from comparing the average for males of $59,207 to the average for females of $48,729.91.

    That stinks! The right is plastering this all over the place because, as Mabelle noted, both Clinton and McCain manage to pay their staffs equitably. Why can’t Obama?

    One of the conservative papers points out that the positions must be comparable to claim that there is an inequity. That is wrong because if we assume the positions are not comparable, then the numbers suggest that Obama is hiring men for the higher paying, presumably more responsible positions and bypassing women for such positions. That conclusion is supported by the fact that only his office administrator makes over $100,000 whereas the remaining people who do so are all male. Are we to conclude that Obama cannot find qualified women in Washington DC? Here we are back to McCain’s contention that women need more education and training, except it is Obama exemplifying that old canard.

  • For me, the most interesting topic raised this week was between McCain and a veteran at a town hall meeting. It’s the topic of McCain’s voting record for veteran benefits.

    http://www.youtube.com/watch?v=O3ryhI173oo

    It interests me on a number of accounts. McCain’s war record is apparently off-limits (i.e. you can raise it, but it’s comfortable ground for the McCain camp), but surely his political record on assistance to veterans shouldn’t be.

    The fact that apart from Rachel Maddow’s bringing it up, the story doesn’t appear to have much traction yet doesn’t surprise me, but there’s a fairly large story there all the same. I wouldn’t suggest that anyone next or near the Obama campaign should raise it, but certainly it’s a legitimate point for a 527 vet’s group to raise. Think of it as ‘swiftvoting’.

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