Monthly Archives: March 2010


A Serial Obstructionist

Follow this link to the article on the ZEEK website which is presented by The Jewish Daily Forward.  The article claims that Israeli  Prime Minister Benjamin Netanyahu may have deliberately ambushed Vice President Joseph Biden with the announcement of the plans to build 1600 housing units on the west bank.

You may or may not choose to believe this.  I don’t quite know what to make of it.


Michael Lewis–“The Big Short” (2 reviews)

Michael Lewis’s new book about the financial crisis, “The Big Short,” goes on sale 15 March 2010.  In the past, I have posted links on this blog to Michael Lewis articles.

Two very positive reviews of this book have just come out:

On 12 March 2010, Felix Salmon of Reuters concludes, “There aren’t many reasons to be happy about the global financial crisis, but here’s one: that it brought Michael Lewis back to his roots, to produce what is probably the single best piece of financial journalism ever written.”

On 14 March 2010, Steven Pearlstein in the Washington Post writes, “If you read only one book about the causes of the recent financial crisis, let it be Michael Lewis’s, ‘The Big Short.’ ”

On 14 March 2010, CBS’s “60 Minutes” aired “Inside the Collapse”.

on 15 March 2010, Peter Lattman wrote in the WSJ’s Deal Journal, Michael Lewis’s ‘The Big Short’? Read the Harvard Thesis Instead! in which he tells about the Harvard undergrad (Anna Katherine Barnett-Hart) who wrote The Story of the CDO Meltdown, the honors thesis which inspired Michael Lewis.

I have already pre-ordered the Lewis book and downloaded the Barnett-Hart thesis.

-RichardH


Investigation Raises Questions on Driver’s Version of Prius Incident

Follow this link to the article in The Wall Street Journal.  I know what newspaper I have just given you as a link. However, this appears to be a news story and not an editorial, so there might be a smidgen of credibility in it.

During the 911 call, the operator urged Mr. Sikes to shift the car into neutral. He later said he was afraid doing so might cause the car to “flip” or shift into reverse.

What kind of ignorant driver would think that shifting to neutral would cause the car to flip over, but slamming on the brakes would not?  What kind of driver would rather crash into a wall at 95 miles per hour for sure rather than run some other kind of risk to get the car under control?

The piece I quoted isn’t even the question being raised.  The actual question is whether or not the driver actually applied the brakes as forcefully as he claimed.  I wonder if the behavior of the anti-lock brakes caused him to take his foot off the brakes.

I don’t know how many of you have experienced your anti-lock system coming into action.  In some cars it causes a rapid vibration in the brake pedal.  In some cars you may also get a bit of noise from the brakes.  If you are unaware of what is going on, you might think this is a problem and might take your foot off the break pedal.  Actually, this behavior is a sign that the anti-lock system is doing exactly what it is designed to do.  You just need to keep your foot on the brake until you regain control.


By KATE LINEBAUGH

A federal safety investigation of the Toyota Prius that was involved in a dramatic incident on a California highway last week found a particular pattern of wear on the car’s brakes that raises questions about the driver’s version of the event, three people familiar with the investigation said.

On Monday James Sikes, 61 years old, called 911 and told the operator his blue 2008 Toyota Prius had sped up to more than 90 miles per hour on its own on Interstate 8 near San Diego. He eventually brought the vehicle to a stop after a California Highway patrolman pulled alongside Mr. Sikes and offered help.

During and after the incident, Mr. Sikes said he was using heavy pressure on his brake pedal at high speeds.

But the investigation of the vehicle, carried out jointly by safety officials from the National Highway Traffic Safety Administration and Toyota engineers, didn’t find signs the brakes had been applied at full force at high speeds over a sustained period of time, the three people familiar with the investigation said.

The brakes were discolored and showed wear, but the pattern of friction suggested the driver had intermittently applied moderate pressure on the brakes, these people said, adding the investigation didn’t find indicators of the heavy pressure described by Mr. Sikes.

Further details of the findings weren’t available.

On Friday NHTSA officials declined to comment on the inspection and couldn’t immediately be reached on Saturday.

Toyota spokesman Mike Michels said the company will release technical findings very soon and declined to comment further about the vehicle’s brakes. Mr. Michels said the hybrid braking system used in the Prius would make the engine lose power if the brakes were pressed at the same time as the accelerator.

Mr. Sikes lawyer, John Gomez, said Saturday: “Regardless of the outcome of the investigation, it’s clear that there is a problem with these cars. We’re going to wait till the inspection is complete.” He said that the California Highway patrolman involved in the incident said he saw the car’s brake lights go on and that he smelled the brakes burning.

The investigation’s findings aren’t 100% conclusive and still must be finalized. But they are likely to cast doubt on how the situation was described by Mr. Sikes. The California Highway Patrol has said it has no reason not to believe Mr. Sikes, but questions have mounted in recent days, in part because the Prius has a type of technology that pulls back on the accelerator when the brake is engaged.

During the 911 call, the operator urged Mr. Sikes to shift the car into neutral. He later said he was afraid doing so might cause the car to “flip” or shift into reverse.

Mr. Sikes’s Prius is subject to a recall by Toyota to prevent the driver’s floor mat from pinning down the gas pedal that was announced in November and covers 5.4 million vehicles in the U.S.

Reports of unintended acceleration have prompted Toyota to recall more than six million vehicles in the U.S. and more than eight million world-wide. The recalls are aimed to fix the floor mat issue as well as gas pedals that can get stuck.


51 Senate Votes For The Public Option

Follow this link to make a contribution to the effort by the Progressive Change Campaign Committee.

I would not normally post a link showing a segment from The Ed Show. I consider him to be a blowhard on the left almost in the image of Rush on the right. However, this piece does seem worthy of consideration.


New Estimates of Health Care Reform Cost

Follow this link to the CBO estimate sent to Senator Harry Reid on March 10,2010.

I have not even begun to read the 28 page report, but I did extract this paragraph from the introductory letter:

CBO and JCT now estimate that, on balance, the direct spending and revenue effects of enacting H.R. 3590 as passed by the Senate would yield a net reduction in federal deficits of $118 billion over the 2010–2019 period. Approximately $65 billion of that reduction would be on-budget; other effects related to Social Security revenues and spending as well as spending by the U.S. Postal Service are classified as off-budget. In the estimate that was provided on December 19, the estimated budgetary impact was a net reduction in deficits of $132 billion, of which approximately $81 billion would be on-budget.

I have no idea yet whether the rest of the analysis is one I would like to hear or not.  I provide the link here for the purposes of full disclosure no matter how the chips may fall.


Shop Stirs Sign Size Tiff

This story may only be for the local yokels like me.

Follow this link to the story in the Worcester T & G of the above headline:  Subhead is Complaint about official opens a Pandora’s box.

I  compliment the story’s author, Craig S. Semon, for the way the story is written. He quotes what a person says and then presents what the evidence indicates.  Too much of our media just does a he says and she says without offering an independent look at the evidence.  The way this story is written harks back to the best traditions of reporting that we used to see all the time.

I voted for both of the people involved in this tiff, but I am now thinking my later vote for Tom Creamer was the right one and my earlier vote for Scott Garieri was a mistake.

We have another election coming up.  I have previously voted for both of the candidates who are running.  They each lost by minuscule margins,  one by about 4 votes and the other by 14 votes.  I wish I could figure out what these people are really like before I have to see them in action in office.

Mary Dowling for Sturbridge Selectman

James Ehrhard Candidate for Selectman

Sturbridge Political Watch a blog by Thomas Creamer.


Did Rupert Murdoch’s Threats Intimidate Google?

I often read news via Google News.

Sometimes, if I am not careful, I click a link and end up on a Fox News web site.

I did find this annoying, but thought no more of it until today.

I noticed that almost all the top links to the stories take you to Fox News web site.

I was going to find a way to ask Google not to do this, when I realized that this might actually be something that Google is doing on purpose.

Have they made a pact with the devil to feature his web sites? He did threaten to forbid Google from searching his web sites for items to be linked to. He was going to take his business to Microsoft. He pretended that this was a revenue sharing issue. Perhaps he was really trying to get a monopolistic, competitive advantage over other news sources.

You don’t hear anymore about this threat. Is this the deal that Google had to make to keep him from carrying out his threat?

You can vote to have this story promoted by BuzzFlash by clicking the button below.


Taking Pride In Our President

I am really pleased that President Obama has chosen to tackle the health care issue.

He looked at the future budgets and found that the cost of health care was the major driving force of deficits. There was no close second.

He then bravely decided to try to fix this problem, no matter how difficult.

In modern times you have only FDR and LBJ as examples of Presidents who succeeded in taking on such major issues to help salvage the future of our country.

Despite all the slings and arrows, and propaganda waged against him, he persists.  He has the support of a large enough segment of the population to get this through.  He knows that he has to keep the people on board with what he is trying to do.

Unlike Clinton, who didn’t keep campaigning for his program after he got elected, Obama keeps countering the mountain of publicity arrayed against him.

Clinton felt constrained by lack of funds to promote his program against the huge amount of money the corporate world used against him (Harry and Louise).

Obama has found the way, using the internet, to raise the needed funds and to keep his army of supporters out in the field working with him.

This is the kind of change that I voted for.


Why don’t honest journalists take on Roger Ailes and Fox News?

Howell Raines in the 14 March 2010 Washington Post writes, Why don’t honest journalists take on Roger Ailes and Fox News?.

One question has tugged at my professional conscience throughout the year-long congressional debate over health-care reform, and it has nothing to do with the public option, portability or medical malpractice. It is this: Why haven’t America’s old-school news organizations blown the whistle on Roger Ailes, chief of Fox News, for using the network to conduct a propaganda campaign against the Obama administration — a campaign without precedent in our modern political history?

Here is one snip (out of many) from the article:

It is true that, after 14 months of Fox’s relentless pounding of President Obama’s idea of sweeping reform, the latest Gallup poll shows opinion running 48 to 45 percent against the current legislation. Fox invariably stresses such recent dips in support for the legislation, disregarding the majorities in favor of various individual aspects of the reform effort. Along the way, the network has sold a falsified image of the professional standards that developed in American newsrooms and university journalism departments in the last half of the 20th century.

The bolded phrase in the above paragraph refers to the 23 February 2010 Kaiser Family Foundation (KFF) report titled, Americans Remain Split On Stalled Health Care Legislation, but Some Provisions Popular Among Majorities of Democrats, Independents and Republicans

Read the whole Raines article and the KFF report.  In your heart, you know this material … but it’s nice to see it spelled out.

-RichardH