Author Archives: AdelaidaH

Chart of the Day: Another Sign That Dodd-Frank Is Working

Mother Jones

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Via Matt O’Brien, this chart from JP Morgan shows financial sector leverage over the past few decades. As you can see, leverage skyrocketed during the Bush era, which contributed to the 2008 financial meltdown, and then plummeted shortly thereafter. Then it flattened out for a couple of years, and under normal circumstances it probably would have started to climb again when the economy began to recover. Two things stopped it: Dodd-Frank and Basel III, both of which mandated higher capital requirements and thus lower overall leverage levels. This has reduced Wall Street profits but made the banking system safer for everyone.

In other words: financial regulation FTW. Nothing is perfect, and Wall Street is doing everything it can to undermine Dodd-Frank during the rulemaking process, but if it accomplishes nothing except encouraging less leverage it will have done its most important job.

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Chart of the Day: Another Sign That Dodd-Frank Is Working

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Marco Rubio Is a Moron

Mother Jones

Here’s the latest from Florida wunderkind Marco Rubio:

Marco Rubio Struggles With Question on Iraq War

Under a barrage of questions from Chris Wallace of Fox News, Mr. Rubio repeatedly said “it was not a mistake” for President George W. Bush to order the invasion based on the intelligence he had at the time. But Mr. Rubio grew defensive as Mr. Wallace pressed him to say flatly whether he now believed the war was a mistake. Mr. Rubio chose instead to criticize the questions themselves, saying that in “the real world” presidents have to make decisions based on evidence presented to them at the time.

“It’s not a mistake — I still say it was not a mistake because the president was presented with intelligence that said Iraq had weapons of mass destruction, it was governed by a man who had committed atrocities in the past with weapons of mass destruction,” Mr. Rubio said on “Fox News Sunday.”

A moment later, as Mr. Wallace tried to pin him down on his view, Mr. Rubio began to reply, “Based on what we know now, I think everyone agrees — ” but Mr. Wallace cut him off before he finished the thought.

“So was it a mistake now?” Mr. Wallace asked.

“I don’t understand the question you’re asking,” Mr. Rubio said.

The truth is that I don’t care about Rubio’s actual position on the Iraq War. The guy’s trying to run on a platform of more-hawkish-than-thou, and that’s pretty much all I need to know. Most of the time he sounds like a ten-year-old trying to sound tough in front of the older kids.

But I’m seriously beginning to wonder if he has a 3-digit IQ. After Jeb Bush’s weeklong debacle trying to answer this question, every Republican candidate ought to have their own answer figured out. And not just figured out: by now their answers ought to poll-tested, cut down into nice little soundbites, and so smoothly delivered you’d never even know this was a tricky issue in the first place.

But no. Rubio sounded like this question came as a total surprise. Seriously, Marco? This guy does not sound like he’s ready for prime time.

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Marco Rubio Is a Moron

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BP engineer found guilty of obstructing justice

BP engineer found guilty of obstructing justice

NOAA

In May 2010, as BP prepared to try to staunch the flow of oil from beneath the wrecked Deepwater Horizon rig by dumping mud over the blowout, some of the company’s engineers knew the effort was bound to fail. But the mud-dumping plan, codenamed Top Kill, moved forward anyway as the world’s media watched on. Sure enough, Top Kill failed to staunch the leak.

One of the engineers who knew the effort would fail, Kurt Mix, later tried to keep that a secret from investigators. When Mix found out that his iPhone was about to be seized, he deleted more than 100 text messages — messages such as “Too much flowrate – over 15,000.” In that message, Mix was warning a colleague that 15,000 barrels of oil was leaking every day, which was too much oil for the operation to handle, and three times the flow rate that BP had stated publicly.

The presumably panicked decision to delete the texts on Wednesday led to the 52-year-old Texan being found guilty by a jury of one charge of obstruction of justice — a charge that carries a maximum penalty of 20 years imprisonment. He avoided conviction on a second, similar charge. His attorneys vowed to appeal. From the AP:

Mix, who was arrested in April 2012, was the first of four current or former BP employees charged with spill-related crimes and the first of them to be tried.

BP took corporate responsibility for its role in the catastrophe earlier this year, pleading guilty in January to manslaughter charges for the workers’ deaths and agreeing to pay a record $4 billion in penalties. But none of the top executives at the London-based oil giant have been charged with crimes.

David Uhlmann, a University of Michigan law professor and former chief of the Justice Department’s environmental crimes section, said Mix was a “sympathetic defendant” because his conduct seemed relatively minor in the context of a disaster that killed 11 workers and spewed millions of gallons of oil into the Gulf. Uhlmann, however, said the Justice Department appropriately has a “zero-tolerance policy” for those who destroy evidence in a criminal investigation.

“The Gulf oil spill was the worst environmental disaster in U.S. history. Kurt Mix was charged with deleting text messages from his iPhone,” he said. “The government was justified in seeking charges, but there’s a proportionality problem here.”

Props to the feds for going after BP wrongdoers. But it would sure be nice to see some senior execs held accountable for the 2010 disaster, which is still affecting the Gulf of Mexico and its fishermen and shoreline communities.


Source
Ex-BP engineer convicted on 1 obstruction charge, Associated Press
Former BP Engineer Arrested for Obstruction of Justice in Connection with the Deepwater Horizon Criminal Investigation, U.S. Department of Justice

John Upton is a science fan and green news boffin who tweets, posts articles to Facebook, and blogs about ecology. He welcomes reader questions, tips, and incoherent rants: johnupton@gmail.com.

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BP engineer found guilty of obstructing justice

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Logging on the rise again in the Brazilian Amazon

Logging on the rise again in the Brazilian Amazon

Sam Beebe, Ecotrust

Can you tell which part has been logged?

Buried amid the bleak news in a forest study that we told you about last week was a glimmer of hope: Analysis of satellite images taken from 2000 to 2012 revealed that deforestation was slowing down in Brazil.

But new Brazilian government figures, from August 2012 to July 2013, indicate that bad news is back: Amazonian deforestation over that period increased by 28 percent compared to the preceding 12 months. The Guardian reports:

The [increase], boosted partly by expanding farms and a rush for land around big infrastructure projects, fulfilled predictions by scientists and environmentalists that destruction was on the rise again. …

The reasons for the rebound in deforestation are numerous. Changes to Brazil’s forestry laws have created uncertainty among landowners regarding the amount of woodland they must preserve.

High global prices for agricultural commodities have also encouraged growers to cut trees to make way for farmland.

Loggers, squatters and others are also rushing to exploit land around big infrastructure projects, including railways, roads and hydroelectric dams under construction in the Amazon.

Brazil’s environment minister tried to put the focus on the “positive” decade-long trend rather than the one-year uptick, but activists weren’t buying it. “You can’t argue with numbers,” said Marcio Astrini of Greenpeace Brazil. “This is not alarmist — it’s a real and measured inversion of what had been a positive trend.”


Source
Deforestation in Amazon jungle increases by nearly a third in one year, The Guardian

John Upton is a science fan and green news boffin who tweets, posts articles to Facebook, and blogs about ecology. He welcomes reader questions, tips, and incoherent rants: johnupton@gmail.com.

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Logging on the rise again in the Brazilian Amazon

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Does Ted Cruz Believe His Critics Will be Condemned by God?

Mother Jones

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This weekend, Sen. Ted Cruz (R-Texas) responded to the story Mother Jones published last week that revealed inflammatory remarks made by his father, Rafael Cruz, a Cuban-born, septuagenarian businessman-turned-pastor. Speaking to the North Texas Tea Party last year on behalf of his son, the elder Cruz called President Barack Obama an “outright Marxist” who “seeks to destroy all concept of God.” At that event, Rafael Cruz also urged the crowd to send Obama “back to Kenya.” Or ship him “back to Indonesia,” he said. Asked to comment on his father’s remarks, Sen. Cruz’s office told us, “These selective quotes, taken out of context, mischaracterize the substance of Pastor Cruz’s message.” It added, “Pastor Cruz does not speak for the senator.” Yet after the story was posted, when a Texas television station questioned the senator directly about his father’s statements, Ted Cruz dismissed them as a “joke.” He went on to claim the article was the result of “the politics of personal destruction” and en effort by people “trying to smear Rafael Cruz and use that to attack me.”

There’s a lot to unpack here. Does Ted Cruz believe it’s a joke to accuse the president of trying to destroy God? Or that his father was kidding when he suggested Obama is “wicked,” asserted that the president is attempting to “destroy American exceptionalism,” said he wants government to be God, and insisted that “social justice is a cancer”? As for attacking the son with the father’s statements, the senator did not explain why it’s unfair to hold him accountable for remarks made by a person Cruz’s campaign routinely deployed as an official surrogate. According to campaign disclosure records, Cruz’s Senate campaign paid Rafael Cruz about $10,000 in traveling expenses in 2012 and 2013. And in August the conservative National Review noted that the father-son duo had forged a “political partnership,” reporting: “Cruz has kept his father, a 74-year-old pastor, involved with his political shop, using him not merely as a confidant and stand-in, but as a special envoy. He is Cruz’s preferred introductory speaker, his best messenger with evangelicals, and his favorite on-air sidekick.” Put it this way: Rafael Cruz is far closer to Ted Cruz and his political endeavors than Jeremiah Wright was to Obama and his campaigns.

I’ve asked Ted Cruz’s office to explain whether the senator considered all of Rafael Cruz’s harsh utterances about Obama to be jokes and whether he’d like to comment on Rafael Cruz’s role as an official campaign surrogate. So far, there’s been no reply.

There might be a much bigger issue regarding Ted Cruz’s response to the article about his father. In July, the senator, with his father by his side, accepted the blessings of fundamentalist pastors in Iowa (see above) who are adherents of Christian Reconstructionism, a view that holds that God anoints individuals to be “kings” who strive to influence or control key institutions of society (say, the government) as a prelude to the second coming of Christ. The blessing of Ted Cruz contained this line: “Father, we believe that no weapon formed against Cruz will prosper and every tongue that rises up against him in judgment will be condemned.”

This blessing seems to suggest that the pastors believe that those who criticize Ted Cruz will be condemned by God. This certainly seems in sync with Rafael Cruz’s remarks and his preaching at religious gatherings of fellow evangelicals. But a serious question is raised: does Ted Cruz himself see his detractors as being on the wrong side of God? Can those who raise inconvenient questions about him or his father expect to receive a mighty smiting from above?

This is no joke. Such a mindset—my detractors are destined for hell—could certainly affect how Cruz would govern, should he reach the pinnacle of power. Given that he willingly accepted this blessing, it would hardly be inappropriate to ask Cruz what he thought of it. Actually, I did. Along with those queries noted above, I asked his office whether Senator Cruz believes that his critics will be condemned by God? No answer yet on that, either. I suppose those who report unflattering facts about the senator may have to wait until Judgment Day to see if those Cruz-courted pastors have it right.

UPDATE: After this story was posted, Sean Rushton, a spokesman for Sen. Ted Cruz sent the following response: “Sen. Cruz loves and supports his father, even though their views and perspectives are not always the same. The Constitution protects Mr. Corn’s right to embrace whatever faith he chooses—or no faith whatsoever—but, it is unfortunate that his agenda would call for the public condemnation of Christian pastors who pray verbatim from the Bible (namely, Isaiah 54:17).”

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Does Ted Cruz Believe His Critics Will be Condemned by God?

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A Question for House Republicans

Mother Jones

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I’m curious about something. House Republicans have issued a list of demands that they want met before they’ll agree to raise the debt ceiling. Obviously President Obama is opposed to all their demands. So has anyone asked any of these House Republicans why they think Obama should accept their proposal?

To be clear, my question to them is: Why should Obama care about raising the debt ceiling? Why not just let it stay where it is? Has anyone asked them this?

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A Question for House Republicans

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Sometimes a hybrid is greener than an electric car

Sometimes a hybrid is greener than an electric car

Shutterstock

Which car is greenest in your state? Find out.

If you live in California, the most climate-friendly car you can drive is a Toyota Prius Plug-In Hybrid. If you live in Ohio, you could go easier on the climate by driving a regular ol’ non-plug-in Prius. And in Vermont, the best pick would be an all-electric Honda Fit.

That’s according to a new report from Climate Central: “A Roadmap to Climate-Friendly Cars.” Here’s how the researchers explain the state-by-state differences:

An electric car is only as good for the climate as the electricity used to power it. And in states that rely heavily on fossil fuels like coal and natural gas for their electricity there are many conventional and plug-in hybrid electric vehicles that are better for the climate than all-electric cars.

The report includes a handy interactive map that shows you the top 10 choices for your state.

The researchers arrived at their conclusions after considering states’ electricity sources plus the amount of energy used in manufacturing cars — which, in the case of electric cars and their batteries, is a lot.

In 39 states, a high-efficiency, conventional gas-powered hybrid, like the Toyota Prius, is better for the climate (produces fewer total “lifecycle” carbon emissions) than the least-polluting, all-electric vehicle, the Honda Fit, over the first 50,000 miles the car is driven.

But in the four states with the cleanest grid electricity, “the mpg equivalents of the best electric vehicle are dazzling,” says the report, “ranging from more than 2,600 mpg in Vermont, to 380 mpg in Washington, 280 mpg in Idaho, and 200 mpg in Oregon.”

Cleanest, in this case, means lowest in greenhouse gas emissions. In the Pacific Northwest, emissions are low because so much electricity comes from hydropower. In Vermont, it’s because so much electricity comes from nuclear. Of course, goings-on at Fukushima remind us that nuclear is definitely not “clean” in all senses.

The bottom line, says Kevin Drum at Mother Jones: “figuring out the best car to drive is harder than you think.” Which gives me a perfect opportunity to plug Greg Hanscom’s new post on how to make cities more bike-friendly.

Lisa Hymas is senior editor at Grist. You can follow her on Twitter and Google+.

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Sometimes a hybrid is greener than an electric car

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