The Mighty Pen

Managing your money -- heh, heh

Fri, 03 Feb 2006 16:41:49 GMT

First of all, you have to love the headline of this Salon.com item.

Second, you start to ask yourself, "How in the Lord's holy name did this dirty sonofabitch get that job?"

Crooks and liars, all of 'em.

Money for nothing, chicks for free

In his State of the Union address Tuesday night, George W. Bush talked about the importance of being a good "steward" of the taxpayers' money. Somehow, we doubt that this is what he had in mind: According to the New York Times, a former comptroller of Bush's Coalition Provisional Authority in Iraq is expected to plead guilty Thursday to charges of bribery, conspiracy and money laundering related to a scheme to use "sexual favors, jewelry and millions of dollars in cash to steer reconstruction work to a corrupt contractor."

Robert J. Stein Jr. -- one of four Americans arrested in the case so far -- stands accused of stealing at least $2 million in American Iraqi cash, taking at least $600,000 worth of CPA property and accepting more than $1 million worth of bribes, the Times says. According to an earlier Times report, Stein got his job as the comptroller for the CPA after he was fired from a Florida company for falsifying payroll records and creating fake invoices for nonexistent purchases. Before that, Stein was convicted on a criminal charge of "access device fraud."

As part of the scheme in Iraq, Stein is alleged to have helped steer more than $8 million in contracts to a contractor who has also been arrested. According to court papers, the Times says, the contractor kept a "villa" in Baghdad where women provided "sexual favors" in exchange for "official actions in his favor or for refraining from exposing the scheme."

It's not clear whether the money lost in this corruption scheme is separate from or a part of the $9 billion the CPA lost to what an inspector general's report called "severe inefficiencies and poor management." That report came out right around the time of the president's last State of the Union address, the one in which he said that taxpayer money "must be spent wisely, or not at all."

Wed, 01 Feb 2006 17:11:15 GMT

Morgan Stanley's economists have this to say about the future:

"First, the victims of globalization -- unskilled workers in high-income countries -- have been defending their lifestyles with debt, but may not be able to do so in 2006 due to higher interest rates and the surfacing credit problems in this segment. Globalization has appeared a win-win for everyone so far. This is just a perception. Stagnant income growth among unskilled workers in high-income economies is a telltale sign. This should not be surprising, as unskilled workers in rich economies now compete against workers in developing economies that are muscling their way into the global economy."

Or, in Thomas Friedman's lingo, "The world is flat."

I'm increasingly worried that 2006 will bring about serious economic problems in the United States. A collapse of the housing bubble would lead to severe cutbacks in consumer spending. We can't do debt financing forever, and that's what happened in 2005. Americans' savings rate was -0.5 percent. Meaning, we put it on the charge card (or the mortgage, as the case may be).

Ain't no free lunch, chil'ens.

Onion: More Companies Phasing Out Retirement Option

Tue, 31 Jan 2006 16:53:47 GMT

Ain't it the truth?

Candor in retirement

Fri, 20 Jan 2006 16:52:42 GMT

The AP reported yesterday that six former EPA chiefs -- that's five Republicans and one Democrat -- are accusing the Bush Administration of neglecting global warming. Here's a money quote from Christine Whitman, former N.J. governor and the first EPA chief under Dubya:

"You'd need to be in a hole somewhere to think that the amount of change that we have imposed on land, and the way we've handled deforestation, farming practices, development, and what we're putting into the air, isn't exacerbating what is probably a natural trend," she said. "But this is worse, and it's getting worse."

A funny thing happens when you've essentially decided to retire, and your future income and employment hinge on having some credibility: You can be frank. While Whitman was suckling on the Bush Administration nipple, she had to drink their milk, too, so such candor was off-limits.

Another interesting tidbit from the article: The current EPA chief agreed that global warming was a real problem, and that humans bear significant blame. Of course he also says the Bush Administration is doing plenty about the problem, so you can see the limits of one's honesty while still in the employ of corporate masters.

How Come?

Tue, 10 Jan 2006 14:16:38 GMT

The vapid, soulless quality of most music on the radio and the charts is part of the deterioration of the Great American Republic. I asked a while ago where to find musicians who were trying to make sense of this very absurd period of American history.

I don't know if anyone can really do that, but Ray LaMontagne at least raises the question. Ray is a musician I'm really excited about. He writes songs for people with brains, and his song "How Come" off his album Trouble is one of his best (but picking the "best" song on this album like picking your favorite Life Saver flavor -- they're all wonderful in their own way.)

In "How Come" he seems to address the devestating impact recent events have had on us all. Imagine a tempo and sound something like Joe Cocker doing "Feelin' Alright" along with these lyrics:

People on the street now
Faces long and grim
Souls are feeling heavy
And faith is growing thin
Fears are getting stronger
You can Feel them on the rise
Hopelessness got some by the throat you can see it in their eyes
I said how come
How come
Everybody on a shoestring
Everybody in a hole
Everybody crossing their fingers and toes
Government man spin his politics till he got you pinned
Everybody trying to reach out to each other
But they don't know where to begin
I said how come
I can't tell
the free world
from living hell
I said how come
How come
all I see
is a child of god
in misery

Of all the assaults on democracy perpetrated by the Masters of War currently running the show in Washington, one of the greatest is the way they have deflated and undermined the spirit of the American people. Ray's right -- there's a lot of "faces long and grim" in this new world with its national security state and its militaristic view of the world.

There's plenty of sanctimony, but not a lot of room for love and peace, in Bushworld.

I don't think I'm stretching Ray's meaning too far here.

So yeah -- How come? It really is a damned good question.

Flippant

Wed, 21 Dec 2005 20:43:25 GMT

I guess he thinks he's #1.

You say you want a revolution...

Wed, 21 Dec 2005 20:32:56 GMT

A while back, Jason W. asked me if I had become addicted to Google Earth. I admitted I hadn't -- so far, I have escaped that particular addiction. But he showed me some of its features and I'm pretty fascinated by it. I feel dumb now for not grasping some of the implications of the technology sooner.

The New York Times has a great article out on why Google is making governments around the world nervous, and it's easy to see why. If little old ladies in Pasadena, or grade-school kids in Ann Arbor can take a peek into Guantanamo Bay, then there might be a security problem for old Uncle Sam, not to mention powers like India or tinpot dictators in Haiti.

So who wins when it's Google vs. India? Easy: Google. How would it be in Google's interest to leave a big black blob where India should be? And how is India's national defense a concern for the Google board of directors?

Nationalism, meet capitalism.

Military leaders in the article are concerned, of course, that "terrorists" or potential military enemies will learn about their defenses via Google. But the other side of the coin is that academics and the general public may learn something, too. Reporters will find innovative ways to use it as a freedom-of-information tool, and to pry open new truths. (That is, if the huge conglomerates who run so much of the media allow it. For example, GE, which owns NBC news, is a huge defense contractor. We may be talking about independent reporters here -- long live the Blogosphere!).

This is how technology is going to remake the world -- there will be a dozen issues like this one which force us to re-evaluate our relationships to government structures and our societal organization. Yes, it's that scale of a change. Not just Google Earth, of course, but other pressures like nanotechnology, the coming of Peak Oil, and the existing power of the U.S. government to monitor every phone call, fax, and Web connection in the world with its super-powerful information technology. (remember "Total Information Awareness?" I believe it's here, only it has a different name). They can find out in an instant what you've been talking about, and you'll never know.

It does all tie together... There's a moment coming down the pike -- and I think it's coming sooner rather than later -- when our society will realize that we've arrived at this new world we've been heading for. Orwellian nightmares are entirely possible right now, today. The only thing that can prevent this sort of power is if all of us, as citizens, grow up quick and learn to incorporate this new reality into our thinking.

It'll be good and bad, but it will be wrenching, and we'll be left with a world that looks and feels a lot different.

Disclaimer: By the way, if you steal this idea to write your doctoral thesis, that's cool. Just quote me somewhere in the paper, and send me a copy. I just don't feel up to writing one myself today.

A letter to my Congressman

Mon, 19 Dec 2005 18:02:56 GMT

I sent this letter to my Congressman today:

----------------------------------------

Congressman Bob Schwarz, R-MI 7th District

December 19, 2005

Dear Congressman Schwarz,

I want to thank your staff and yourself for taking the time to read my letter. While I understand that it's difficult for a Congressman to write a personal reply, I do hope this note finds its way from your staff to your eyes, and that you have a moment to read and consider it.

I think you are an honorable Representative for our district, and while I do not agree with all of your political positions or beliefs, I respect your integrity and effort. I know that, as a Republican, you must feel a certain loyalty to President Bush, and I understand that.

It must be very difficult for you to consider, then, that the President's critics may be right when they accuse him of abusing his power and using fear to try to enact his favored policies. But recent events -- including the very fact that Congress had to compel him to renounce torture (at least in name) and including recent revelations that the Department of Defense has been spying on American citizens within America -- must lead you to the same conclusion.

I appreciate the difficulty of your position. But you must act first as an American and a Congressman, and give regard to your party only as a third consideration. Though the President may share your party, I hope you are as deeply concerned with his autocratic actions as I am, and are prepared to act.

Congress must investigate the Attorney General and his support for the methods of torture. Congress MUST determine if any American citizen has been subjected to torture by this Administration. If so, the Administration would become a criminal enterprise.

Congress must investigate the CIA's secret use of allied soil for the extraordinary rendition of prisoners. This is a national-security issue, and it clearly puts the United States in a position where its may be violating its treaty obligations. Congress has an obligation to pursue this issue and do so with openness and candor.

I respect the beliefs that the Republican Party is based on, but it disheartens me to see a Republican Congress allow a President such sweeping powers by its inaction -- there is nothing Conservative in that. Now, Congress finds itself in the position of having to check those powers before the President decides he has the authority to spy on them.

Because of abuses like those I've discussed, people are losing faith in this government, Mr. Schwarz. We need to know the truth, even if it is painful to us as a country; even if it is painful to your political party.

Now is the time for all good men to come to the aid of their country.

Please act.

Respectfully,
Scot Woods

Question for the Religious Right

Mon, 19 Dec 2005 16:38:41 GMT

As we approach the Christmas season, I have a question for Bill O'Reilly and those of his ilk. As they loudly bemoan the non-issue of Corporate America downplaying "Christmas" and playing up "holidays", it seems fit to ask:

Who Would Jesus Torture?