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com
involves taxes for the top Bank President Thomas Hoenig primary election. The free-
Analyst Calls: ANN,
income classes — families
earning at least $250,000 a year
said.
For more by Carey Gillam and
spending novices, real estate
billionaire Jeff Greene and BIP, DUK, FHN, ISLE,
— which President Barack David Lawder, click here. healthcare multimillionaire Rick
Obama and most Democrats
want to let expire.
From elsewhere…
AIG pays back $4 billion of
Scott, held double-digit leads
over their opponents in July but
JCG, POM, RE, SMT ...
To read the rest of this story by loan slipped steadily as their rivals Eric Buscemi has a $13 target on the stock.
(BloggingStocks) • ATA Inc. ( ATAI) was
Kim Dixon, click here. Bailed-out insurer American turned the spotlight on the
FDA head says more egg International Group Inc said it newcomers’ business dealings Submitted at 8/24/2010 11:30:00 AM upgraded to neutral from
recalls possible paid back nearly $4 billion in and character. underweight at Piper Jaffray.
The Food and Drug U.S. loans in its single largest To read more of this story, click Filed under: Analyst Reports, • Buckeye Partners ( BPL) was
Administration commissioner cash payment so far to reduce its here. A n a l y s t U p g r a d e s a n d upgraded to neutral from sell at
said there may be more recalls debt to taxpayers. The partial Tiger Woods and wife Elin Downgrades, Duke Energy Goldman.
of eggs in the salmonella repayment of a Federal Reserve divorce (DUK), Analyst Initiations • Sinopec ( SNP) was upgraded
outbreak and the agency did not Bank of New York credit The world’s No. 1 golfer Tiger Analyst Upgrades to overweight from neutral at
yet know how the eggs and facility came after International Woods and his Swedish wife • RBC Capital upgraded HSBC.
chickens were contaminated. Lease Finance Corp, AIG’s Elin Nordegren have divorced Brookfield Infrastructure ( BIP)
FDA Commissioner Margaret aircraft leasing unit, sold $4.4 following the sex scandal that to outperform from sector Continue reading Analyst Calls:
Hamburg said the U.S. is billion in debt to investors and embroiled Woods late last year, perform with a $20 target. The ANN, BIP, DUK, FHN, ISLE,
probably involved in the largest used the bulk of the proceeds a statement from their lawyers firm thinks the units' valuation JCG, POM, RE, SMT ...
recall that has happened in to repay $3.9 billion in said. is compelling, while the Analyst Calls: ANN, BIP,
recent history. government loans three years For the rest of the story, click company's proposed acquisition DUK, FHN, ISLE, JCG, POM,
For more of this story by early. here. of assets is positive. RE, SMT ... originally appeared
Tabassum Zakaria and Alina For the rest of the story, click Photo credit: Reuters/Jason • Stifel upgraded First Horizon on BloggingStocks on Tue, 24
Selyukh, click here. here. Reed (Plate of eggs at a ( FHN) to buy from hold based Aug 2010 11:30:00 EST. Please
Fed’s Hoenig: “too big to fail” Big-spending novices now lag Washington restaurant Monday) on valuation and its path see our terms for use of feeds.
hurts small banks in Florida campaigns t o w a r d s n o r m a l i z e d Permalink| Email this|
The viability of community A pair of wealthy outsiders who profitability. The firm has a $15 C o m m e n t s
banks is threatened by policies spent their way to prominence price target on the stock. Duke Energy- BloggingStocks-
that have conferred “too big to in Florida’s Senate and • KeyBanc upgraded Isle of Buckeye Partners- Piper Jaffray-
fail” status on larger banks, governor’s races now lag the Capri ( ISLE) to buy from hold Business
reducing their cost of capital, political insiders backed by the based on improved earnings
Kansas City Federal Reserve party hierarchies in Tuesday’s growth and valuation. The firm
suggested that the government the private/public nature of (jumbos, insufficient down of government backing was that to “ludicrous.”
ought to totally nationalize their charter, which incentivized payments) were being purchased substantially based on this So in other words, private
housing finance, while executives and stockholders to by PIMCO in the hundreds of commonsensical, psychological, sector financing is too expensive
dismissing the idea that the go for broke with the implicit millions of dollars every week, indeed sociological observation (because the private sector
private sector could ever step up understanding that Uncle Sam but at yields of 6, 7, and 8%. If that the great housing debacle of apparently sucks at it, not
to the plate and replace Fannie would be there as a backstop that was the risk/reward 2007–2010+ would have a because the private sector is
and Freddie. should anything go wrong. If tradeoff, compared to FNMA profound influence on better at pricing risk
Naturally Gross -- who as head you eliminated the private and FHLMC yields at 3.5–4%, homebuyers and mortgage appropriately), and that because
of PIMCO is one of the biggest incentive and provided a tighter how could policymakers pretend lenders for decades to come. homeowners have become
investors in mortgage-backed regulatory watchdog, we would that the housing baton could be What did we learn from the conditioned due to the bubble
assets -- was dismissed for have no more “liar loans” or quickly and cost-effectively Great Depression, for instance: and the bust, the government
talking his book (a frequent “no docs” and a much sounder passed back to the private Americans, for at least a must assume a greater role. And
charge). foundation for future market? Few, if any, could generation or more, became oh, presuming that the
In his latest monthly letter he homeowners and investors. The afford a new home at those savers – dominated by the government ends its dual-
goes into more depth about his private market, to my mind, had interest rates. If you were a insecurity of 20%+ mandate (housing finance and a
views, and denies that he's just really lost its claim as the most believer in the dominance and unemployment rates and profit motive) then we won't see
taking the PIMCO line. efficient and judicious arbiter in superiority of private markets, importance of a return of their a repeat of the Fannie/Freddie
The first key to his argument is this particular case. Markets and how could you deny the signal money as opposed to a return on bust.
that the private sector has failed private incentives without that markets were sending – their money. It should be no Here he spells it out most
when it comes to housing proper guardrails were as that the risk was too high given different this time, even though clearly:
finance: threatening to a sound economy the substantial losses of recent the Great R. is a tempered Policymakers not only have to
I proposed a solution that in the 21st century as too much years? version of the Great D. consider the future “flows” of
recognized the necessity, not regulation and government This is just weird. He argues Americans now know that new mortgage originations, but
the desirability, of using ownership proved to be in the that higher cost of private housing prices don’t always go the existing “stock” of
government involvement, which 1970s. originations justifies up, and that they can in fact go mortgages already created.
would take the form of rolling Next he offers some numbers to government involvement, rather down by 30–50% in a few short FNMA and FHLMC either own
FNMA, FHLMC, and other back up the idea that the private than concluding that years. Because of this or have guaranteed $4.5 trillion
housing agencies into one giant sector is bad in this regard: government involvement is experience, private mortgage of the $11 trillion mortgage
agency – call it GNMA or the In addition, my argument had a arbitrarily pushing the price of lenders will demand market now on the books. As
Government National Mortgage practical/market-based logic to home financing to sub-market extraordinary down payments, the Treasury contemplates the
Association for lack of a more it. Ninety-five percent of levels (and unsustainably so, as impeccable credit histories, and “transition” from Agency
perfect acronym – and existing mortgage creation over Fannie/Freddie ended up significantly higher yields than conservatorship to either public
guaranteeing a majority of the past 12 months were showing). what markets grew used to over or private hands, how could
existing and future originations. government guaranteed. The He then argues basically that the past several decades. Could private market advocates
Taxpayers would be protected private market was nowhere to since the market has become an unbiased observer truly reasonably assume that pension,
through tight regulation, be found because they charged conditioned on government believe that housing starts of insurance, bank, and PIMCO-
adequate down payments, and too much. It was the cost of finance, and that because two million or even one million type monies would willingly
an insurance fund bolstered by private origination and homeowner attitude has been per year could be generated add nearly $5 trillion of non-
a 50–75 basis point fee attached securitization, perhaps more seared by the housing bust, we under the wing of the private guaranteed, in many cases junk-
to each and every mortgage. than any other factor, that must double down on market? In front of Treasury rated mortgages to their
Seemed commonsensical to me. justified government government guarantee of Secretary Geithner and the portfolio? They would not. We
After all, Fannie and Freddie involvement. Prime, but non- housing: assembled audience, I said that
had really blown up because of conforming, mortgages My argument for the necessity was impractical. Let me amend BILL page 9
6 Business/ E-reader News Edition
are in a bind, folks. Having yield instead of 3–4%, so it accustomed, but denies a
Morning Links - Taylor
grown accustomed to a housing
market aided and abetted by
would be better for PIMCO to
let the Administration flood the
commonsensical, more tightly
regulated government Lautner Sues Over an
Uncle Sam, the habit cannot be private market with non- alternative for millions of
broken by going cold turkey
into the camp of private lending.
guaranteed, private mortgage
product and let us vultures feast
current and future American
homeowners. Jimmy Stewart
RV Trailer
The cost would be enormous in on the pickins. No, the self I’m not, and I won’t be going PopSugar (PopSugar) • Martin Short's wife passed
terms of yields – 300–400 basis interest rests on “Que” Street. If back to Washington anytime Submitted at 8/24/2010 10:15:00 AM away- Us Weekly
points higher than currently the housing market continues to soon. If I did, though, I’d want • Michael Lohan offers advice
offered, crippling any hopes of be government dominated, then to visit those guys on “Que” to Mel Gibson- Wonderwall
a housing-led revival to the the points from originations and Street. “K pasa?” I’d say, and • Taylor Lautner suing over a • Miley's new role sounds like a
economy. the fees for private insurance then I’d ask if they slept well at tardily delivered custom RV- racy one- Huffington Post
And as for his own (lack of) would all of a sudden disappear. night. TMZ • Naomi Campbell in trouble
interest in this: The vested interest lies on Wall Read the full letter here > • Hilary and Mike keep the for back taxes- Fox 411
And why do I and PIMCO Street, not Newport Beach or Join the conversation about this postwedding partying going- • Lindsay Lohan has a rehab
support this view? Is it some Main Street. Try explaining that story » People hearing today- Hollywood Life
self-interested, money-making to commentators intent on • The Harry Potter kids gear up • What's up with Mariah Carey
plot to allow us to dominate the returning to a free market for their new movie- Lainey and American Idol?- The
bond market? Hardly. Any ideology that continues to serve Gossip Blemish
investor would recognize that monied interests in the high • What to expect in Jon
it’s better to have a 6 or 7% style to which they are Gosselin's book- PopEater
percent from 2008) while the good works, rather than pad a expenses from $13.5 million to the CEO’s pay is appropriate.
salary for a religious charity CEO’s wallet.” $3.5 billion. This list is “We hope [this study] will Reese Witherspoon clutched
CEO was $90,000 (1 percent To keep extreme salaries from comprised of eight Education improve the public’s confidence her BlackBerry on her way to
more than the year before). skewing the data, only the charities; five Arts, Culture, in the charitable sector, while and from seeing friends in
Other salaries fell in between, median, or middle, value of Humanities charities; and one helping them to avoid rip-off Beverly Hills yesterday. She
though only religious charity C E O p a y w a s t a k e n i n t o Health charity. charities,” Berger added. traded in her recent favorite
CEOs had an average salary less account. Charity Navigator also The study also revealed that Charity Navigator's ratings are shrunken sweatshirt top for a
than $100,000 and a salary restricted its analysis to 3,005 106 charities paid their CEOs accessible at no charge at cute green shirtdress to greet the
increase of less than 4 percent. charities rather than all 5,500 in between $500,000 and $1 charitynavigator.org. high temperatures in California.
For its study, Charity Navigator its database. million. Only one religious This entry passed through the After kicking off the season
examined CEO compensation at Once selected, CEOs were charity, Education Media Full-Text RSS service — if this filming Water for Elephants
3 , 0 0 5 m i d - t o l a r g e - s i z e sorted by geographical location Foundation, was part of this list. is your content and you're with Robert Pattinson, Reese
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includes salary, cash bonuses They were also sorted by their astound many donors, salaries please read our FAQ page at Summer vacation. She brought
and expense accounts, but not c h a r i t y ’ s c a t e g o r y , w h i c h really should be judged in the fivefilters.org/content-only/ Jim Toth home to Tennessee to
contributions to benefit plans or includes Animals; Arts, Culture, context of the charity’s overall faq.php meet her family and has spent
deferred compensation that is H u m a n i t i e s ; E d u c a t i o n ; performance,” Charity Five Filters featured lots of time with Ava and
allocated to be paid in later Environment; Health; Human Navigator noted. article:"Peace Envoy" Blair Gets Deacon while they're off from
years. The data for the report Services; International; Public In the concluding remarks of its an Easy Ride in the school. Reese has also signed on
was gathered from the charities’ Benefit; and Religion. study, Charity Navigator Independent. for more new projects, but first
annual informational tax filing Charity Navigator also acknowledged that the up she'll be showing off her
for the fiscal year ending 2008. highlighted the highest salary in paychecks of some nonprofit charitable side when she
“ R e l a t i v e l y h i g h C E O each category, such as the $2.65 executives are “outrageously participates in the star-studded
Sept. 10 Stand Up 2 Cancer
telethon.
View 5 Photos ›
16 Top News/ Culture/ E-reader News Edition
Reader Photo Gallery:
Judge Blocks Obama's Embryonic Stem Cell DIY Astrophotos From
Star-Geek Campout
Research Policy Lisa Grossman (Wired Top
Stories)
(Society) President Obama signed an that the 1996 Dickey-Wicker said experimentation on
Submitted at 8/24/2010 6:10:55 AM executive order, removing Amendment was ambiguous. He embryonic stem cells isn't even Submitted at 8/24/2010 6:00:00 AM
limitations on embryonic stem said the language of the statute necessary.
A federal judge on Monday cell research and expanding is plain and clearly prohibits the "In economic times like we are Sorry, Readability was unable
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violates a ban on federal funds w i t h a b o r t i o n b e c a u s e i t destroyed." this illegal and unethical is your content and you're
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human embryos. the embryo during the process Dickey-Wicker Amendment is The plaintiffs in the lawsuit are please read our FAQ page at
The preliminary injunction was of harvesting the stem cells. unambiguous, the question researchers who work fivefilters.org/content-only/
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"The American people should known as the Dickey/Wicker human embryo is destroyed. The obtaining federal funding is article:"Peace Envoy" Blair Gets
n o t b e f o r c e d t o p a y f o r Amendment, which prohibits Court concludes that it is," he necessary for their continued an Easy Ride in the
experiments – prohibited by federal funds from being used to wrote. research but allowing funding of Independent.
federal law – that destroy human destroy human embryos for "ESC research is clearly ESC research has increased
life," said Steven H. Aden, research purposes. research in which an embryo is competition for the National
senior legal counsel with the The suit was dismissed last destroyed. To conduct ESC Institutes of Health's limited
Alliance Defense Fund. "The October by Chief Judge Royce research, ESCs must be derived resources.
court is simply enforcing an C. Lamberth of Federal District from an embryo. The process of This entry passed through the
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needless research on human The dismissal was then necessarily depends upon the please read our FAQ page at
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Pro-life researchers and groups, plaintiffs have "competitive commented, "No one should be article:"Peace Envoy" Blair Gets Easy Post-Drilling
including Nightlight Christian standing" to sue, and was allowed to decide that an an Easy Ride in the Cleanup [Clever Uses]
Adoptions and Christian remanded back to Judge innocent life is worthless." Independent. Jason Fitzpatrick (Lifehacker)
Medical Association, filed a L a m b e r t h . He also pointed to the success
Submitted at 8/24/2010 8:00:00 AM
federal lawsuit last year after Lamberth rejected arguments of adult stem cell research and
Massive Lost Giveaway: Win the Entire Series on Blu-ray Lifehacker reader cking777
shares a simple but effective use
Hugh Hart (Wired Top Stories) This entry passed through the fivefilters.org/content-only/ Independent. for Post-It notes to catch the
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ARIZONA'S
continued from page 11
forward button on the once momentarily interested. WestGroup Research for the forum. But it isn't smart to
congenial conservative, forcing But Brewer has surrounded Arizona Republic found that underestimate someone who's
her to evolve more quickly than herself with people who are support for SB 1070 was been so lucky. Especially a
any high-profile politician in helping her make her moment strongest among more affluent politician like Brewer who's
recent memory. "I think the last, such as lobbyist and households, whites, Republicans good at one-liners. "Good things
recent incarnation is the longtime state policy adviser and older Arizonans; and continue to happen to Jan
governor being focused in a way Eileen Klein, and Brewer's statewide support for the Brewer's political career,"
she hasn't been focused before," longtime campaign consultants, legislation was 55%. Now, DeMenna says. "The question
says Grossfeld, who described Chuck Coughlin and Doug Cole. conservative talk shows hail that remains for her staff is how ImageGrab Is a Powerful
his relationship with Brewer as It seemed improbable at first. Brewer as a hero. And, to keep the government Video Screenshot Tool
civil during the time he worked Much of the country and liberal according to Democratic analyst functioning." [Downloads]
for the legislature's Democratic media turned against her after Grossfeld, the rallying cry See TIME's Pictures of the
Jason Fitzpatrick (Lifehacker)
majority in the early 1990s. she signed the bill into law. And "You're either for or against SB Week.
Brewer is reaping the benefits when U.S. District Court Judge 1070" is quickly being See the Cartoons of the Week. Submitted at 8/24/2010 8:30:00 AM
of governing a transient state Susan Bolton temporarily translated into "You're either for View this article on Time.com
where long-term planning and blocked key portions of SB or against Jan Brewer." Related articles on Time.com: Windows: Grabbing stills from
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In fact, a regular legislative November. But the decision also race. reading it on someone else's site, feature-packed tool for grabbing
session lasts for just four gave her a huge shot at success. Her campaign is now focused please read our FAQ page at single stills, a series at set
months. The population seems The case may take years to on her presumptive Democratic fivefilters.org/content-only/ intervals, or scripting your own
transient too: 1 in 5 Arizonans course through the Ninth Circuit opponent in November, Terry faq.php parameters for custom grabs.
has come from some other state. Court of Appeals to the U.S. Goddard. But the issue is Five Filters featured More »
DeMenna, who has more than Supreme Court. This gives shifting too. It's now jobs, and article:"Peace Envoy" Blair Gets
30 years of experience in Brewer longer playing time on a so Brewer's ads have her talking an Easy Ride in the
Arizona politics, says that it is hot-button issue that has the jobs and show images of Independent.
the kind of environment that numbers on her side - for now. Brewer's face on World War II's
makes it easy to become the Polls in Arizona continue to "Rosie the Riveter." Goddard
person of the moment - because validate her stance on illegal wants to face her in a series of
the electorate is always only immigration. A recent poll by debates - not her strongest
Happy 15th Birthday to Windows 95, the Ugly This entry passed through the
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Sam Biddle (Lifehacker) 95 doesn't summon a burst of 70% of the planet was using it.
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Submitted at 8/24/2010 7:30:00 AM nostalgia. It was never pretty, More »
an Easy Ride in the
often cantankerous, and, for the
within two years of its release, Independent.
You'll be forgiven if Windows most part, our only option. But
E-reader News Edition News Wire/ 19
privacy advocates buy into this. staring at the ocean and writing not, I’ll unfriend you. When you Places feature, but in the end for Women
Take this counterproductive very, very bad poetry that start sharing information about we’re not talking about (Cooking Light: Editor's Picks)
story in Valleywag, for instance. nobody will ever see. I was an other people, though, you have strangers and enemies who are
The author basically says that English major, and they don’t to be more careful. I learned this out to destroy you. We’re Sorry, Readability was unable
Facebook’s check-in feature is sell clove cigarettes in on Facebook very early when I talking about friends. If we can’t to parse this page for content.
bad because you will get caught Maryland, so bad poetry was all posted some pictures from an all respect our friends’ feelings, This entry passed through the
lying to your girlfriend or I had. -night study session back in well, that’s why Facebook Full-Text RSS service — if this
having an affair. Seriously. I just wanted some privacy. I college. Quite a few friends created the concept of is your content and you're
That’s the best Valleywag could wasn’t doing anything wrong. I were angry that I had posted unfriending. reading it on someone else's site,
come up with. didn’t want to be around anyone such unflattering images without Relevant Entries on SlashGear please read our FAQ page at
I dated a girl for a little over I knew. I couldn’t find asking them, especially since I • Keep your filthy computer fivefilters.org/content-only/
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She was my first serious emotional state I was seeking, professionals in respectable, • NEC develops a “privacy article:"Peace Envoy" Blair Gets
girlfriend, and I was devastated. not a legal right that I was trying semi-public positions. One is a monitor” that doesn’t sacrifice an Easy Ride in the
The night she broke up with me, to protect. Rabbi; another is an aspiring quality Independent.
I left my parents house in I hate to use a traumatic actor who has been in some • Privacy screen for your video
Columba, Md and drove three example, because a desire for Hollywood movies. iPod
hours east to Ocean City, where privacy doesn’t require trauma, These people have a vested • Keep track of your passwords
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The power and the plumbing really. It’s a desire to fulfill an image. It was disrespectful for • Privacy Policy
were shut down for the off- emotional need state. me to step on their wishes and
season, but I just wanted to be I don’t have a problem with their feelings by posting these
alone. It was 1994, so nobody Facebook’s Places check-ins pictures. I was making decisions
had cell phones. Escape was as because they are simply another for them, telling them how they
easy as simply telling a few key form of sharing. If you want to should present themselves. I was
friends not to call my parents share information about telling them how they should
house looking for me. I spent a yourself, go right ahead. If I feel. There might be some
night sitting on the balcony, enjoy that sharing, I’ll follow. If growing pains in the Facebook
with the touch interface of your service and style of button in doing so already installed. from your mobile device. We
m o b i l e d e v i c e a n d b e t t e r order to get embed code ready Of course, in the grand scheme didn't even have to update our As part of our " Never Mind the
integrate with its functions, like for copying-and-pasting onto of things, one less link posted to code to make this happen - it Valley" series here, we often
the built-in email client. any website or blog. Those who Twitter is not a major issue, but just works. feature communities outside the
Sponsor choose to register with the it did make the mobile Web feel This is only one of the many Silicon Valley that have become
AddThis: Now Sharing with the service can also get built in more clunky and less developed u p c o m i n g " n e w f e a t u r e s , thriving centers for
Mobile Web, Too analytics, too. What's New? than its desktop counterpart. experiments and products that entrepreneurship. We've
You're probably know about Prior to today, however, AddThis aims to change that help to tackle the problem of profiled cities like Boston,
the AddThis button even if you AddThis was not well-designed with the button's new mobile m o b i l e s h a r i n g , " r e p o r t s Montreal, and Austin.
don't realize it - it's the orange for mobile use and touchscreens, f u n c t i o n a l i t y , w h i c h Clearspring's Justin Thorp via Sometimes we notice there's a
"Share" button that's nearly which is what makes this new automatically opens Web email. Dare we hope for flurry of startup activity in a
ubiquitous across the Web these release all that more exciting for browser windows for you, with dedicated native apps next? particular location that warrants
days. Acquired by the widget dedicated mobile users like default (but still editable) text Discuss coverage, and sometimes we're
creation platform company ourselves. On many websites, filled in. (And don't worry, pitched stories about these
Clearspring in late 2008, the it's been more difficult than there's no auto-tweeting/sharing locations. (And you should feel
button was already the most need be to find an easy way to here!) It also now integrates
WHERE page 29
popular of its kind on the Web. tweet a link to an article we just with the built-in email clients on
Sam & Max Season 3 for $20, complete collection for $40
Richard Mitchell (Joystiq) instance, right now the entire Continue reading Sam & Max on Tue, 24 Aug 2010 11:47:00
Submitted at 8/24/2010 11:47:00 AM third season " The Devil's Season 3 for $20, complete EST. Please see our terms for
Playhouse" is $20. Or you can collection for $40 use of feeds.
Telltale has done everything snag all three seasons for just Sam & Max Season 3 for $20, Permalink| Email this|
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right down your throat. For your throat might not be able to handle Telltale's next offer. originally appeared on Joystiq
E-reader News Edition Technology/ Featured/ 29
WHERE
continued from page 28
APTURE
continued from page 31
engagement, with interaction it’s actually very useful for which will suggest searches for Launched in 2008, Apture has
with their site increasing by two looking up keywords without specific terms around news raised$4.1 million in funding.
to three times when activated. needing to leave the page or content. Similar to Apture, the CrunchBase Information
Apture says that publishers are article. And adding context to idea behind the new feature is to Apture Information provided by
also increasing their search content through search is allow readers to access related CrunchBase
volume and site page views by something that even large tech content they would search for
driving traffic to related articles companies like Yahoo are trying without having to go to a
for every search. to get into. Yahoo just released a separate search portal and type
I’ve installed the add-on and feature called Infinite Browse, in the query.
E-reader News Edition Technology/ 33
BILL page 41
40 Economy/ E-reader News Edition
recognized the necessity, not regulation and government This is just weird. He argues Americans now know that new mortgage originations, but
the desirability, of using ownership proved to be in the that higher cost of private housing prices don’t always go the existing “stock” of
government involvement, which 1970s. originations justifies up, and that they can in fact go mortgages already created.
would take the form of rolling Next he offers some numbers to government involvement, rather down by 30–50% in a few short FNMA and FHLMC either own
FNMA, FHLMC, and other back up the idea that the private than concluding that years. Because of this or have guaranteed $4.5 trillion
housing agencies into one giant sector is bad in this regard: government involvement is experience, private mortgage of the $11 trillion mortgage
agency – call it GNMA or the In addition, my argument had a arbitrarily pushing the price of lenders will demand market now on the books. As
Government National Mortgage practical/market-based logic to home financing to sub-market extraordinary down payments, the Treasury contemplates the
Association for lack of a more it. Ninety-five percent of levels (and unsustainably so, as impeccable credit histories, and “transition” from Agency
perfect acronym – and existing mortgage creation over Fannie/Freddie ended up significantly higher yields than conservatorship to either public
guaranteeing a majority of the past 12 months were showing). what markets grew used to over or private hands, how could
existing and future originations. government guaranteed. The He then argues basically that the past several decades. Could private market advocates
Taxpayers would be protected private market was nowhere to since the market has become an unbiased observer truly reasonably assume that pension,
through tight regulation, be found because they charged conditioned on government believe that housing starts of insurance, bank, and PIMCO-
adequate down payments, and too much. It was the cost of finance, and that because two million or even one million type monies would willingly
an insurance fund bolstered by private origination and homeowner attitude has been per year could be generated add nearly $5 trillion of non-
a 50–75 basis point fee attached securitization, perhaps more seared by the housing bust, we under the wing of the private guaranteed, in many cases junk-
to each and every mortgage. than any other factor, that must double down on market? In front of Treasury rated mortgages to their
Seemed commonsensical to me. justified government government guarantee of Secretary Geithner and the portfolio? They would not. We
After all, Fannie and Freddie involvement. Prime, but non- housing: assembled audience, I said that are in a bind, folks. Having
had really blown up because of conforming, mortgages My argument for the necessity was impractical. Let me amend grown accustomed to a housing
the private/public nature of (jumbos, insufficient down of government backing was that to “ludicrous.” market aided and abetted by
their charter, which incentivized payments) were being purchased substantially based on this So in other words, private Uncle Sam, the habit cannot be
executives and stockholders to by PIMCO in the hundreds of commonsensical, psychological, sector financing is too expensive broken by going cold turkey
go for broke with the implicit millions of dollars every week, indeed sociological observation (because the private sector into the camp of private lending.
understanding that Uncle Sam but at yields of 6, 7, and 8%. If that the great housing debacle of apparently sucks at it, not The cost would be enormous in
would be there as a backstop that was the risk/reward 2007–2010+ would have a because the private sector is terms of yields – 300–400 basis
should anything go wrong. If tradeoff, compared to FNMA profound influence on better at pricing risk points higher than currently
you eliminated the private and FHLMC yields at 3.5–4%, homebuyers and mortgage appropriately), and that because offered, crippling any hopes of
incentive and provided a tighter how could policymakers pretend lenders for decades to come. homeowners have become a housing-led revival to the
regulatory watchdog, we would that the housing baton could be What did we learn from the conditioned due to the bubble economy.
have no more “liar loans” or quickly and cost-effectively Great Depression, for instance: and the bust, the government And as for his own (lack of)
“no docs” and a much sounder passed back to the private Americans, for at least a must assume a greater role. And interest in this:
foundation for future market? Few, if any, could generation or more, became oh, presuming that the And why do I and PIMCO
homeowners and investors. The afford a new home at those savers – dominated by the government ends its dual- support this view? Is it some
private market, to my mind, had interest rates. If you were a insecurity of 20%+ mandate (housing finance and a self-interested, money-making
really lost its claim as the most believer in the dominance and unemployment rates and profit motive) then we won't see plot to allow us to dominate the
efficient and judicious arbiter in superiority of private markets, importance of a return of their a repeat of the Fannie/Freddie bond market? Hardly. Any
this particular case. Markets and how could you deny the signal money as opposed to a return on bust. investor would recognize that
private incentives without that markets were sending – their money. It should be no Here he spells it out most it’s better to have a 6 or 7%
proper guardrails were as that the risk was too high given different this time, even though clearly: yield instead of 3–4%, so it
threatening to a sound economy the substantial losses of recent the Great R. is a tempered Policymakers not only have to
in the 21st century as too much years? version of the Great D. consider the future “flows” of BILL page 44
42 Economy/ E-reader News Edition
Clearing House Association trillion, most of it following the The simple fact of the matter is never was a "recovery" by any representative for SitkaPacific
LLC, an organization of 20 September 2008 bankruptcy of it's Not Practical To Tell The rational measure. The alleged Capital Management. Sitka
commercial banks that joined Lehman Brothers Holdings Inc. Truth. recovery was nothing more than Pacific is an asset management
the Fed in defense of the Fox News, a unit of New York Mike "Mish" Shedlock inventory replenishment fueled firm whose goal is strong
lawsuit, will have 90 days to -based News Corp., also sued h t t p : / / by massive and unsustainable performance and low volatility,
petition the Supreme Court to the Fed to force the release of globaleconomicanalysis.blogspo government spending waste regardless of market direction.
consider their appeal. The loan documents for transactions t.com with additional trillions of V i s i t h t t p : / /
Clearing House has already said in 2008 and 2009. The Click Here To Scroll Thru My taxpayer dollars handed out in www.sitkapacific.com/
it will ask the high court to rule hypocrites at the Fed have Recent Post List Mike bank bailouts. account_management.html to
on the case. promised more transparency and "Mish" Shedlock is a registered The plunge in existing home learn more about wealth
“We are reviewing the decision show it by fighting freedom of investment advisor sales shows exactly what management and capital
and considering our options for information requests all the way representative for SitkaPacific happens when free money preservation strategies of Sitka
appeal,” David Skidmore, a Fed to the supreme court, which Capital Management. Sitka handouts stop. Pacific.
spokesman, said. appears to be where this lawsuit Pacific is an asset management Mike "Mish" Shedlock
At issue are 231 “term sheets” is headed. firm whose goal is strong h t t p : / /
documenting Fed loans to Should the Fed does deliver performance and low volatility, globaleconomicanalysis.blogspo
financial firms during 2008. The any data now, it will only be regardless of market direction. t.com
records, which include the because the data is already V i s i t h t t p : / / Click Here To Scroll Thru My
banks’ names, the amounts entirely useless and/or they fear www.sitkapacific.com/ Recent Post List
borrowed and the collateral setting a supreme court account_management.html to Mike "Mish" Shedlock is a
posted in return, were originally precedent. learn more about wealth registered investment advisor
requested by late Bloomberg Fed's Transparency Policy management and capital
News reporter Mark Pittman Unveiled preservation strategies of Sitka
through the Freedom of The Fed's transparency policy Pacific.
Information Act, which allows amounts to a spoon-feeding of
citizens access to government blatant lies, distortions, half-
papers. truths, and purposely
The amount the Fed and the overoptimistic guesses, along
U.S. government lent, spent and with a few smatterings of
guaranteed to stem the recession obvious truths hoping to make
and rescue the banking system the entire package look
peaked in March 2009 at $12.8 legitimate.
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E-reader News Edition Culture/ 49
neighborhood activists. All offer the post-flood American south than white vigilantism. When need to hear a question in order Splicing together similarly-
unique perspectives on what operate in the same spirit. Federal Emergency to make sense of a subject’s themed shots—images of eerily
went wrong in America during The opening section about the Management Agency Michael answer, or when a subject says isolated front stoops where
and after Katrina, and what's New Orleans’ Saints’ Super Brown appears on-camera, you something so striking and odd housing projects once stood,
still going wrong. There are Bowl victory, for instance, naturally expect Lee to lump that any reasonable person backed by bleakly amused,
sections about New Orleans’ sweeps us up in the rejuvenating him in with the rest of the Bush would interrupt to ask a follow- “What did you expect?” noir-
troubled school system, its joy that the team’s triumph administration’s devious up. Here, as in Levees, he’s jazz; snippets of underwater
floundering public health care inspired—but then it backs off bumblers, as he more or less did mostly invisible, with one very surveillance camera footage of
system, and the plight of and reminds us that the Saints in Levees. What you get instead conspicuous exception: the oil gushing from the BP pipeline
residents displaced to other are just a sports team, and that is a tough yet compassionate lengthy closing credits montage scored to funereal organ
states, the tenure of New their win is ultimately a portrait of a man who was which finds many of Lee’s music—Lee, Pollard and
Orleans mayor Ray Nagin, and distraction from the city’s unprepared for his job, people (and Lee himself) saying Blanchard distill the
President Obama’s response to problems. Every section of floundered during a crisis, dared their names and occupations documentary's themes and
the BP oil spill. Lee and his Creek is likewise committed to a bitch to his superiors about their while holding picture frames feelings into cinematic arias.
editors have amassed an mature, prismatic view of life. own incompetence, and got around their faces. This is These montages are often
awesome amount of data, but You may think you know where hung out to dry. Brown reveals definitely a section that could disquieting, sometimes
they've organized it in a way Lee is going when he starts each that mere moments before the have been cut for time, but I upsetting. But they’re conceived
that feels organic, one specific section, but you don’t. president infamously grinned on loved it. It’s both visually with such wit and passion that
incident or problem or anecdote Witnesses describe C. Ray camera and told him he was playful and revealing of the watching them is an elating
flowing naturally (at times Nagin as a barely-competent doing a heckuva job, he’d been filmmaker’s storytelling style, experience.
imperceptibly) into the next. mayor handpicked by the city’s griping to Bush backstage about which singles out individuals Matt Zoller Seitz is a
Creek also puts the lie to the white business elite, and as an the executive branch’s lame while keeping the larger contributor to Salon and the
notion that Lee is a one-sided unlikely hero doing an amazing response. Which means the panorama in mind. founder of Slant's “ The House
filmmaker who goes into every job under impossible compliment was actually a The reportorial and explanatory Next Door.” He writes‘Mad
subject with his mind made up. circumstances, and both punishment for not knowing his sections of “Creek” are Men Mondays’ for TNR.
Like Levees—and for that perceptions are allowed to stand. place. (Brown claims that if you impressive. And yet the film For more TNR, become a fan
matter, like Do the Right Thing, Our current president is likewise watch the clip closely, you can becomes truly great in the visual on Facebook and follow us on
Clockers, and Lee's other good portrayed as doing everything see him trying not to wince.) vignettes cut by supervising Twitter.
fiction films— Creek has a he can and pathetically little. Like many auteurs, Lee likes to editor Sam Pollard and scored
strong point-of-view. But Lee The documentary decries the announce his presence behind by Lee’s regular composer,
doesn’t omit or distort opinions white thugs who treated the the camera, often with awkward, trumpeter Terence Blanchard, a
that complicate his own. Film hurricane as an excuse to hunt off-putting results. But although New Orleans native who also
critic Jonathan Rosenbaum once black folks, then goes on to Lee personally conducted the appears on-camera in both
wrote that Do the Right Thing concede that black-on-black interviews in these documentaries with his
isn’t about either/or, but both/ crime in post-Katrina New documentaries, you hear his cantankerous mother,
and. Lee’s documentaries about Orleans is a far worse problem voice off-camera only when you Wilhelmena, a flood survivor.
54 TV/ E-reader News Edition
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E-reader News Edition Products/ 59
US Presswire Rajon Rondo, When pressed on who may or the following night against make the [last] spot." Jets, Nick Mangold
right, could find himself on the
outside looking in on Team
may not be on the bubble,
Krzyzewski gave a very strong
Spain.
Rondo's knack for rebounding
"But as far as the front line, I
think a lot of people are saying
agree to new deal
USA's roster. indication that Stephen Curry is works in his favor, but his we're thin. Even the coaches are Jane McManus (ESPN.com)
After losing his job as the not. inability to consistently hit jump saying that," Love said. Submitted at 8/24/2010 11:14:14 AM
starting point guard to Derrick “ shots and free throws -- he was Whoever gets cut will be
Rose last weekend in Madrid, Just looking at the obvious -- I 5 of 19 (26 percent) in the NBA notified late Wednesday night Updated: August 24, 2010,
Rondo's stock has fallen to the got a DNP last game. That Finals -- are two of the factors after the game against Greece 12:14 PM ET By Jane
point where it now appears he is pretty much speaks for itself.”-- working against him. and will be given a one-way McManus
third on the point guard depth Rajon Rondo Another is the team's lack of plane ticket back to the United ESPNewYork.com
chart behind Rose and Russell "It's not so much what Rajon size. States. The remaining 12 players Archive
Westbrook. has to show, it's what our team Odom, Chandler and Kevin will travel on to Istanbul, where FLORHAM PARK, N.J. -- The
But Rondo is not the lone needs. We've found a good Love are the only players who Team USA opens play in the New York Jets and All-Pro
player on the bubble, a fact lineup, and the international play power forward or center on World Championship on center Nick Mangold have
Danny Granger acknowledged. game is so different from the their NBA teams, which has Saturday night against Croatia. agreed on a new seven-year deal
"I just think it really depends on NBA game, you can ask any of forced the Americans to use "It's what's best for the country," worth a maximum of $55
what the coaches want from the these guys," Krzyzewski said. Granger, Rudy Gay, and said Rondo, who said his DNP- million, a league source told
team," Granger said at the "Part of it is to make sure that Iguodala at the 4 spot from time CD (did not play -- coach's ESPNNewYork.com Monday.
OAKA Arena after the we try not to have two non- to time. decision) Sunday was his first The new contract could be
American team practiced in the shooters out on the court, and Also, despite the fact that since his rookie NBA season. signed as early as Tuesday.
very same building where the there's the physicality, too. Billups and Curry are playing at "It's part of it. We knew coming Mangold decided to participate
2004 Olympic team received "Derrick right now being with shooting guard, both are the in it was still tryouts until we in training camp while awaiting
their bronze medals. "If we take Chauncey is a good primary ballhandlers on their make the team that goes to a new deal, unlike cornerback
more of a defensive approach, I [combination], and Stephen, he NBA teams, as are Rose, Turkey." Darrelle Revis, who did not join
could be [on the bubble]. If we provides a different thing, Westbrook and Rondo. And a Chris Sheridan covers the NBA the team in Cortland, N.Y., on
take more of an offensive because if they are going under team with five point guards for ESPN.com. Aug. 1 and whose negotiations
approach, then it's different. It [screens] and they keep going (along with a sixth guard in Eric This entry passed through the became frayed. When Jets coach
just depends on what they want under on him, then he has a 3. Gordon, who has been one of Full-Text RSS service — if this Rex Ryan was asked Monday if
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used in Sunday's one-point what'll be best for the team." sat out Sunday night's game faq.php said. Jets blog
victory over Spain, using Rose Rondo played poorly (1 of 4, against Spain after sustaining a Five Filters featured Looking for more information
at the point, Chauncey Billups at two points, one assist, four mild concussion the previous article:"Peace Envoy" Blair Gets on the
shooting guard, Kevin Durant at turnovers) in the Americans' night against Lithuania when he an Easy Ride in the green and white?
small forward, Andre Iguodala game against Lithuania on tried to draw a charge and Independent. ESPNNewYork.com has you
at power forward and Lamar Saturday in which they failed to banged the back of his head covered. Blog
Odom at center. establish a fast pace and scored against the floor. "I've been Earlier on Monday, Mangold
Coach K also said he would try just seven points in the first playing well in practice. I'm just said he had discussed the
to give all 13 players some quarter. Rondo and Tyson hoping I get the opportunity, but contract situation with Revis,
playing time, as long as Chandler were replaced by Rose I know there's a lot of great who will make roughly $1
circumstances permit it. and Odom in the starting five players that have a chance to SOURCE: page 62
62 Sports/ E-reader News Edition
SOURCE:
Sidney Rice of Minnesota Vikings continued from page 61
StarCraft features in
University of Florida's
'21st Century Skills' course
Richard Mitchell (Joystiq) STARCRAFT page 65
E-reader News Edition Politics/ Gaming/ 65
STARCRAFT
continued from page 64
REP. page 67
E-reader News Edition Science/ 67
REP.
continued from page 66
great that Americans are according to the Times - but [ The New York Times]
enjoying our national parks - here's hoping our gadget-loving
July was a record month for lifestyle doesn't ruin the
visitors at Yellowstone, experience.
70 Health/ E-reader News Edition
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Submitted at 8/24/2010 12:00:00 AM minutes. The windscreen and that combines backpacking and
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Independent. Oh, those vague South
detest it isOH,
this page
one —73“values.”
$100 @ primuscamping.com Earth-Friendly Treks Talk about a meaningless buzz
tmatt (GetReligion)
If there is any popular term in
Obama to Gulf: Oil Ban Stays American discourse that I truly
Conn Carroll (The Foundry: press the Obama administration Bromwich himself estimated
Conservative Policy News.) about the ban. that President Obama’s oil ban
Submitted at 8/24/2010 11:00:36 AM The commission sent a letter to would cost the region 23,247
Bureau of Ocean Energy jobs.
Posted August 24th, 2010 at Management, Regulation and This entry passed through the
12:00pm in Enterprise and Free E n f o r c e m e n t M i c h a e l Full-Text RSS service — if this
Markets Print This Post Bromwich demanding to a is your content and you're
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commission first met in July, Bromwich did respond. And his fivefilters.org/content-only/
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Gulf fell outside their mandate. The top federal offshore oil in place for a few more months. replacement for the moratorium article:"Peace Envoy" Blair Gets
But after a number of highly drilling regulator is telling the … by Halloween and leans against an Easy Ride in the
charged field hearing in the presidential oil spill commission The nation’s top drilling exceptions. Independent.
Gulf, the commission did a 180- that the temporary halt to regulator, Michael Bromwich, This comes just days after
degree reversal and promised to deepwater drilling will remain says he will propose a Bloomberg reported that
E-reader News Edition 73
OH,
continued from page 72
word! This is a term that is Let’s start right at the vague, their disdain for President do that, it seems. Sandlin has previously been
constantly abused by hollow mushy top: Obama and the direction he has What about Democrats? There backed by the liberal, EMILY’s
folks on the left as well as on SIOUX FALLS, S.D. — As taken the country on anyone is one photo ( online only, No. List. Another wild card is that
the right, usually when they are South Dakota’s lone House who is a Democrat. 23) of Sandlin at home in which South Dakota’s Republican Sen.
trying to stick it to an opponent member, Rep. Stephanie So what we have here is a a cross is hanging in the John Thune is running
without needing to take any Herseth Sandlin (D) wants each “mama grizzly” Democrat from background. Is this relevant? unopposed this year. Thune has
stands on controversial issues — of her votes to reflect the the heartland who is up against a Could be, since the Post, more plenty of money anyway, and
religious, cultural and moral wholesome, conservative values talented young female who the than anything else, wants its seems happy to share his bounty
issues, most of the time — that of this rural rectangle of a state. Post calls “authentic, tall and readers to know that she has the with Noem.
might upset a few voters or So she has artfully tailored her lean, soft-spoken but tough, an “values” thing down and is a Thune, of course, is a superstar
(let’s face it) journalists. record: no on the health-care unabashed conservative who centrist or right-wing Democrat. among conservative voters.
Thus, we have “values” voters. overhaul; no on the Wall Street rarely strays off script. She’s a So why is Noem viewed as an So where do the two candidates
Thus, we have Democrats who bailouts; no on the cap-and- made-for-Fox News star in her alternative? fit into this “values” scene, in
can sail into blue-collar, trade energy bill. She’s a proud own right.” A quick glance at Sandlin’s terms of the tricky political
Catholic neighborhoods and talk Democrat, she says, but a Sandlin “grew up on a farm,” profile at The Daily Kos issues that come wrapped in
about their “values” without prouder South Dakotan. readers are told, while Noem provides lots of information language about faith, morality
having to answer real questions Still, there is that one vote “runs a ranch. She rides horses, about her Blue Dog streak. and culture? In other words, is it
(see John Edwards). Thus we Herseth Sandlin cast, the aye for herds cattle, hunts elk (with a However, a story about the race relevant which pews these two
have Republicans who can visit California Democrat Nancy bow), shoots prairie dogs (with in Politics Daily provides a women occupy, when they
religious congregations and Pelosi as speaker, that her a rifle) and skins pheasants.” slightly different view of the choose to occupy a pew? Might
ominously say that Democrats opponent has hammered her on. Naturally, some have already subject. The sarcastic first quote that information offer a clue or
do not have “values,” while also “I believe the U.S. House of labeled Noem the “next Sarah is from the Republican’s two about this side of the
managing to avoid taking stands Representatives is the people’s Palin.” campaign manager. campaign?
on the same issues ( see Rudy house. It is not Nancy Pelosi’s Despite that barrage, this race is … Noem is aggressively To tell you the truth, I could not
Giuliani). house,” Herseth Sandlin’s apparently all about the contesting the incumbent’s find out where Noem goes to
Meanwhile, there are journalists Republican challenger, state economy, not the headline- claim to conservatism. Noem’s church. I would predict that she
who throw the term around, as Rep. Kristi Noem, told an making social issues that tend to counter talking point? That attends an evangelical
well, often when trying to avoid applauding crowd at the come wrapped in religious when voters realize how Herseth megachurch of some kind, if
covering any messy social or fairgrounds recently during their questions. It’s a race about Sandlin votes, they won’t like it. such things exist in the Dakotas,
cultural issues. first debate of the campaign. “values,” but we are given no “The fact that Herseth Sandlin’s based on the nasty comments
What in the heckfire does the A big Republican wave may be information whatsoever about voting record — 95 percent of about her faith and lack of
word “values” mean, anyway? coming in November. And the hot-button issues that, in the the time with [Speaker Nancy] intellect on liberal weblogs.
To see a classic example of this despite distancing herself from past, have most divided the Pelosi — is something that Sandlin, on the other hand, is
syndrome, check out this A1 her party’s policies, despite “values voters.” really resonates with South clearly identified with the First
story from The Washington touting her independence and This race is all economics, all Dakotans,” Josh Shields said Lutheran Church, Brookings,
Post, focusing on a high-profile moderation, Herseth Sandlin the time. Maybe. sarcastically. … S.D., which is part of the
congressional race out in the could be washed away by the Oh, I forgot to mention that the Abortion and other social issues progressive — some would
wilds of America’s high, high simple fact that she has a “D” photo package that accompanies may also play a role in the race. simply say liberal— Evangelical
plains. The fun starts in the after her name. Throughout the this piece includes a huge image Noem is supported by such Lutheran Church in America.
flashy headline: “In South Midwest and South, dozens of (see image No. 9 in this conservative groups as So here is the bottom line, for
Dakota, Democrats’ own ‘mama her fellow centrists are also collection) of Noem leading a Concerned Women PAC, the me: “Values” talk is almost
grizzly’ vs. ‘the next Sarah imperiled by the backlash of small circle of her family Susan B. Anthony List, and
Palin.’ “ voters threatening to take out members in prayer. Republicans FRC Action PAC, while Herseth OH, page 75
74 Religion/ E-reader News Edition
ecclesiastical wrestling match Bishop Donald Trautman of edgy FAQ. I hope that GetReligion readers always worthless. Actual
that produced the new texts. If Erie, Pa., who formerly ran the Those seeking a length defense will help me spot any significant information about a range of
possible, he should be cited in a U.S. bishops liturgy committee, of the new Missal — including follow-up coverage in the “values issues” — from
way that identifies him as an criticized the new translation as plenty of links to voices on both mainstream media. Might I economic justice to education,
expert on the topic, yet without “slavishly literal” during a sides of the debate — can check suggest setting a Google News from abortion to the death
clearly identifying his partisan lecture last year at The Catholic out this essay at the Adoremus alert for these terms — “Roman penalty — is much, much better.
role in the debate. University of America in Bulletin website. The official Missal,” “Latin” and, of course, “Religious left” vs. “religious
Check. Check. Washington, D.C. website on the transition, “Reese.” right” in a values showdown?
Put it all together and you have Let’s see. And what kinds of offered by the U.S. Catholic In conclusion, may I offer an That could be an interesting and
something that looks like this, in changes would critics want bishops, can be found here. old joke that, on this occasion, important story. That story
the body of the AP story that ran cited? For a coverage that offers the will almost certainly be quoted would also require some
in newspapers from coast to Prayers offered by the priest mirror image of the AP report, by activists on both sides of the specific questions in order to
coast. will include more complex readers might want to check out Roman Missal debate (as produce some hard facts.
Pope John Paul II announced terms such as “consubstantial,” this Catholic News Service opposed to its popularity for Written by: tmatt on August 23,
the new missal in 2000 and it “inviolate,” “oblation,” report, which includes the several decades on the Catholic 2010.
was first published in Latin in “ignominy” and “suffused.” following material which I am traditionalist side of the aisle): This entry passed through the
2002. It’s the first significant Critics like Bishop Trautman sure could have been used in the “What is the difference between Full-Text RSS service — if this
change in the English translation argue that Jesus Christ taught in Associated Press story as quick a terrorist and a liturgist? is your content and you're
since the Mass was first the language of the common and easy commentary from the “You can negotiate with a reading it on someone else's site,
celebrated in English after man and, further, that Vatican II other side. terrorist.” please read our FAQ page at
Vatican II in the 1960s, said the reforms that first allowed the At several points during the Photo: The second photo is of fivefilters.org/content-only/
Rev. Thomas Reese of the Mass to be translated from Latin Mass, for example, when the St. John’s Abbey in faq.php
Woodstock Theological Center to the vernacular are being celebrant says, “The Lord be Collegeville, Minn., which is Five Filters featured
at Georgetown University. unraveled by the more with you,” the people will linked to the school of theology article:"Peace Envoy" Blair Gets
“It will impact every Catholic in complicated words used in the respond, in a more faithful and the seminary. Written by: an Easy Ride in the
every parish because they will new translation. translation of the original Latin, tmatt on August 24, 2010. Independent.
have to learn new responses in In response, readers receive “And with your spirit.” This entry passed through the
place of the ones they have been another vague paraphrase from The current response, “And Full-Text RSS service — if this
using since Vatican II,” Reese supporters of the new version, also with you,” was “not meant is your content and you're
said. “I believe that the new who are not — again — named as ‘you too’ or something like reading it on someone else's site,
translations are a step or quoted. ‘back at you,’” Father Richard please read our FAQ page at
backwards and confusing to the It’s a clean sweep, a tour de Hilgartner, associate director of fivefilters.org/content-only/
people in the pews.” force. the USCCB Secretariat of faq.php
Proponents of the new missal’s Readers seeking more Divine Worship, told Catholic Five Filters featured
translation into English have information about this press News Service. Rather it is “an article:"Peace Envoy" Blair Gets
said its language is more poetic release can go directly to one of invocation to the priest as he an Easy Ride in the
and true to the spirit of the its likely sources, the PrayTell celebrates the Mass, a reminder Independent.
original Latin. Critics contend weblog produced by the St. that he is not acting on his own,
the translation is too literal and John’s School of Theology and but in the person of Christ” — a
includes too many theologically Seminary. A sample of its distinction that the new
complex terms. criticism can be found at this language will highlight, he said.
76 Religion/ E-reader News Edition
adviser who earlier this year man who drinks a woman’s scholars saying various things. It’s easy to just point and imply
With a word on Atlas Shrugged
earned notoriety for rolling out breast milk is unable to marry Sheikh Yusuf Al-Qaradawi silliness. It’s much more
in the contemporary scene.
an eyebrow-raising religious that woman in (at least some retells stories from during the difficult to explain at least some
I n writing “ The Greatly
decree that called on women to interpretations of) Islam? I lifetime of Muhammad of the theological context. For
Ghastly Rand” for NR’s current
give men breast milk to avoid mean, for Pete’s sake, four contemporaries about differing more information about the
print issue, I wanted to evaluate
illicit mixing. seconds with Google can give a opinions being offered even fatwa in question, this site might
Ayn Rand foremost as an artist,
Saudi authorities on reporter at least a start on what then before suggesting that the be helpful. Written by: Mollie
applying the simple standard,
Wednesday reportedly pulled they need to know on this. practice is permissible. on August 23, 2010.
“Does this inspire me? Do I like
the plug on Obeikan’s radio It turns out that the discussion Another quoted Islamic scholar This entry passed through the
what this woman is showing me
program “Fatwas on Air,” a has a history that goes back to recommends against the Full-Text RSS service — if this
of her soul?” This is more or
daily morning show in which the earliest days of Islam. At practice: is your content and you're
less the standard Rand would
Obeikan would go on air and least some interpretations of Sheikh Ahmad Kutty, a senior reading it on someone else's site,
have applied to herself. As I
issue fatwas — religious rulings Islam believe that the drinking lecturer and an Islamic scholar please read our FAQ page at
noted, she asserts in her
— to the public on various of a woman’s breast milk turns at the Islamic Institute of fivefilters.org/content-only/
Fountainhead introduction that
matters. the relationship into a parental Toronto, Ontario, Canada, adds: faq.php
her purpose as a writer is “the
Taking the sheikh off air one that then makes her sexually The wife’s breast milk is Five Filters featured
projection of an ideal man.” She
appears to come as part of Saudi forbidden to him. To not intended for the baby, and not article:"Peace Envoy" Blair Gets
goes on to explain that “any
king Abdullah’s recent mention that this is a heated for the husband to consume. an Easy Ride in the
didactic, intellectual or
clampdown on the nation’s point of discussion in some Although the husband is Independent.
philosophical values” in her
fatwa bazaar. interpretations of Islam leaves allowed to suck on it gently, he
novels are only a means to that
The story includes a few more the cleric looking like he’s off is not allowed to draw the milk
end, and that her goal “is not the
paragraphs but nowhere do we his rocker. In fact, the question in. According to some scholars,
get any understanding of why about what the drinking of a if he were to do so it would AYN page 78
the cleric might even be opining woman’s breast milk means endanger the marriage
philosophical enlightenment of One Big Brother is, of course, a elite.” But they fight precisely #ad#There is an argument to be minor theme of Atlas Shrugged
my readers” but “the portrayal socializing elite (as we know, against the idea that any person made that the line between the is that its heroes, though
of Howard Roark [or the heroes several cut-rate brands are on or persons should be granted informal influence of a Google denounced as materialists, are
of Atlas Shrugged]” -- Rand’s the shelves). Miss Rand, as the Big Brotherly responsibilities. Inc. and the formal power of a more capable of enjoying
brackets; she is quoting herself - enemy of any socializing force, They oppose, precisely, the “managerial political bureau” is spiritual pleasures (“spiritual”
- “ as an end in himself.” calls in a Big Brother of her own “suprevis[ion]” of a “managerial becoming ever blurrier, but here understood in a non-
#ad#Whittaker Chambers, in contriving to do battle with the political bureau.” Their message Chambers does not make it or religious sense -- she has in
reviewing Atlas Shrugged, was other. In the name of free throughout, to borrow Rand’s anticipate it. Instead he holds mind the capacity e.g. to love, or
instead concerned with Rand as enterprise, therefore, she plumps formulation, is: “Hands off!” that capitalism is necessarily to feel profound aesthetic
a political thinker. He is fairly for a technocratic elite (I find no #page# materialist and that a appreciation) than are their
explicit about this: “ Atlas more inclusive word than Chambers is fair enough to “materialism of the Right” must denouncers. I think the correct
Shrugged can be called a novel technocratic to bracket the continue: “Of course, Miss Rand culminate in something like assessment is that Rand rejected
only by devaluing the term. It is industrial-financial-engineering nowhere calls for a dictatorship. Hitler’s National Socialism. I any division at all between body
a massive tract for the times. Its caste she seems to have in I take her to be calling for an believe those claims to be false, and mind, material and spiritual
story merely serves Miss Rand mind). When she calls aristocracy of talents. We cannot and Chambers’s whole way of (another instance of her
to get the customers inside the “productive achievement” labor here why, in the modern thinking about these issues indebtedness to Nietzsche,
tent, and as a soapbox for “man’s noblest activity,” she world, the pre-conditions for strikes me as quaintly Marxian - which Chambers perceptively
delivering her Message.” He means, almost exclusively, aristocracy, an organic growth, - in both its conception of noted). Here is one of Atlas
then details his objections to the technological achievement, no longer exist, so that the capitalism and its invocation of Shrugged’s heroes, Henry
Message -- and here I think he supervised by such a managerial impulse toward aristocracy historical inevitability. The Rearden, making the point, as he
does her an injustice. political bureau. She might always emerges now in the form latter pops up again and again realizes that he was wrong to
The crucial passage: object that she means much, of dictatorship.” But I think he throughout the review, every accept the label “materialist”
It is when a system of much more; and we can freely is still mistaken, and his diction time Chambers says, effectively, and feel guilty for being one:
materialist ideas [Chambers has entertain her objections. But, in misleading. Aristocracy is an “I don’t care what she claims to I damned the fact that my mind
just claimed that Rand presents sum, that is just what she means. arrangement in which certain advocate -- this is what it must and body were a unit, and that
“a forthright philosophic For that is what, in reality, it persons have a political right to come to in practice (but you’ll my body responded to the
materialism”] presumes to give works out to. And in reality, too, rule other persons have to take my word for it).” values of my mind. I damned
positive answers to real by contrast with fiction, this can exploitatively. Any such While I find Rand’s the fact that joy is the core of
problems of our real life that only head into a dictatorship, arrangement would be abhorrent evangelistic atheism off-putting existence, the motive power of
mischief starts. In an age like however benign, living and to Rand’s heroes. It will in the extreme, I believe every living being, that it is the
ours, in which a highly complex acting beyond good and evil, a admittedly be the case, in a free Chambers is also wrong to claim need of one’s body as it is the
technological society is law unto itself. society of freely transacting that her system is “a forthright goal of one’s spirit, that my
everywhere in a high state of The basic error is to say that individuals, that those of philosophic materialism.” body was not a weight of
instability, such answers, Rand wants her own species of superior talent enjoy a greater Insofar as I am familiar with her inanimate muscles, but an
however philosophic, translate Big Brother to “solve and share of material abundance and writings and public statements, instrument able to give me an
quickly into political realities. supervise” the problems of influence. This outcome will be, she had nothing kind to say experience of superlative joy to
And in the degree to which complexity and instability. This in fact, an organic growth. But it about materialists. Certainly she unite my flesh and my spirit.
problems of complexity and simply is not so. It is true that is far from aristocracy, and to rejected much that Despite his errors, Chambers
instability are most bewildering her “prime movers” withdraw wield influence is not to rule. conventionally accompanies succeeded brilliantly in
to masses of men, a temptation from society in order to Chambers’s elision of these materialism; for example, she diagnosing Rand’s attitude. He
sets in to let some species of Big effectuate the collapse of the ideas is a surprising piece of believed in the freedom of the is absolutely right that the
Brother solve and supervise “looters”; in this sense they “do sloppiness from so intelligent a will in contradistinction to
them. battle” with the “socializing writer. causal determinism. And a AYN page 85
E-reader News Edition 79
COPS,
continued from page 77
functions. Akron, Ohio, is the Bay City police union, is $162,000 per year. bonanza is sometimes settlements on the imposition of
eliminating holiday overtime Oakland police chief Anthony As with most public-sector exacerbated by abuse. In July, the arbitrators.
pay for emergency-service Batts responded to the layoffs workers, a major -- and opaque - the New York Post told the #ad#The effect of forced
workers and reassigning a by ticking off a list of 44 - piece of emergency-services story of John C. McLaughlin, a arbitration on the fiscal health of
number of police to school situations to which his reduced compensation comes in the form 55-year-old former FDNY local government is starkly
districts, where costs can be force would no longer be able to of lifelong pensions. lieutenant who retired in 2001 illustrated in a recent
“shared.” East St. Louis, Ill., respond -- and it wasn’t just cats “Public-safety workers tend to with an $86,000-a-year comparative study of Fairfax
one of America’s most up trees and noise-ordinance receive the most generous disability pension, after it was County, Va., and Montgomery
dangerous cities, is trying to violations. The list included public-employee pensions,” says determined that he was an County, Md., undertaken in a
stave off police and fire felonies like burglary and grand Josh Barro, a Manhattan asthmatic with diminished lung refreshing Washington Post staff
reductions in force with theft, extortion and fraud. Institute fellow and expert on capacity. This despite the fact editorial from May:
accounting tricks such as salary #page#Throughout these crises, state and local finance. “They that McLaughlin is an Virginia law denies public
deferrals. In perhaps the most the unions have succeeded in are based on a significantly accomplished triathlete who employees collective bargaining
dramatic example, the gang- casting the choice as one shorter career -- it is not atypical regularly competes in long- rights; that’s helped Fairfax
ridden city of Oakland, Calif., between public safety and to see police and fire pensions distance races. resist budget-busting wage and
laid off 80 police officers -- a layoffs, avoiding reductions in, based on 20 years of service -- McLaughlin is hardly alone. An benefit demands. As revenue
full 10 percent of its force -- in or even talk of, their extravagant and they also tend to be more astonishing 80 percent of 2010 dipped two years ago, Fairfax
an effort to balance the city compensation packages. generous as a percentage of FDNY retirees have qualified officials froze all salaries for
budget. According to the Bureau of salary.” for disability benefits. county government and school
Everywhere, cash-strapped Economic Analysis, in 2008, Other laws make the payouts #page#How did police and fire employees with little ado. By
councils and legislatures in the state and local governments even more generous. In New unions score such a sweet deal? contrast, Montgomery leaders
second year of post-crisis spent $1.1 trillion on public- York, for instance, a Part of it is institutional. Since were badly equipped to cope
America are struggling to bring employee compensation, a “presumptive disability” law public-safety unions can, by with recession. County
outlays in line with a shrunken number that accounts for fully makes it easy for firemen to law, virtually never strike, Executive Isiah Leggett took
and stagnant revenue base after one-half of their total spending. secure lifetime, tax-free nearly all of them take office proposing fat budgets and
decades of metastasizing growth State and local employees earn, pensions at three-quarters pay; advantage of their right to force negotiating openhanded union
in public-sector labor costs. And hour for hour, 34 percent more when examining a fireman for “interest arbitration,” wherein deals.#...#Then, as economic
they are being forced to take a in wages than do workers in the the purpose of determining an ostensibly neutral third party storm clouds gathered, he
hard look at their salary and private sector, and enjoy far whether he has a work-related settles contract disputes between shifted gears and cut spending --
pension obligations to police more generous health-insurance, disability, a doctor is required to labor and government. As such while still trying to appease the
and firefighters -- obligations sick-leave, and pension benefits. start with the assumption that arrangements became unions.
that are both prime drivers of #ad#The public/private disparity certain illnesses are job-related commonplace through the 20th Notoriously, one such deal
structural deficits and as close a is especially stark when one even if there is no evidence that century, police and fire unions guaranteed almost $300 million
thing as there is in local focuses on public-safety they are. A fireman from a began to see their compensation in pension benefits over 40
governance to a sacred cow. compensation in places such as Bronx ladder company who rise faster than that of non- years to thousands of employees
And the fuzz aren’t taking it Oakland; police and firemen develops a lung disorder will uniformed public employees. based on salary increases they
lying down. In Akron, Fraternal have accounted for about 75 qualify for disability retirement The availability of legally never received. The giveaway
Order of Police local president percent of expenditures from the even if it’s unclear whether he binding arbitration meant that became known as “Phantom
Paul Hlynsky has engaged in a city’s general fund over the last developed his impairment from unions had less incentive to deal COLAs,” for the cost-of-living
public war of words with mayor five years. Average total smoke inhalation on the job, or directly with their government raises that were never paid. And
Don Plusquellic, accusing him compensation for an officer in from his two-pack-a-day employers, while elected even when Montgomery’s
of lying and negotiating in bad Oakland -- a city in which the cigarette habit. officials facing angry voters
faith. In a move to rival that of median family earns $47,000 -- The “presumptive disability” could blame expensive COPS, page 86
80 Politics-Right/ E-reader News Edition
teachers agreed to give up cost- position to extract support from safety. endangering public safety -- by
of-living raises last year, about politicians.” #ad#Instead, public-safety reducing compensation across
two-thirds of them continued to “Republicans don’t view it as a unions have been able to buffalo the board instead of laying off
receive step increases of up to 4 waste of time to try to make the public into thinking that staff. In most jurisdictions,
percent. police unions happy,” he adds. keeping the peace requires governments can’t renegotiate
As a result of their different #page#And if public-safety breaking the bank. What the the terms of existing union
collective-bargaining policies, workers are split in their public sees is scary billboards contracts, even in fiscal
the two demographically similar political allegiances, the elected and lists of unenforceable emergencies. This must change.
jurisdictions have “parted class is unified in its deference statutes, and not, for instance, Better yet, states should follow
ways.” Montgomery County is to men and women in uniform, the fact that the Oakland Police the lead of Virginia and ban
“lurching under the weight of especially after a decade whose Department backed out of a job- collective bargaining by public
irresponsible governance, defining acts of heroism were saving deal that would have employees.
unsustainable commitments and performed by cops and firemen required officers to make a mere We must take care that public-
political spinelessness,” while from New York and New 9 percent pension contribution, safety workers are not allowed
Fairfax, “though facing tough Jersey. Politicians are loath to because the city could guarantee to hide behind the badge. That
choices[,]#...#has a brighter be seen as trying to nickel-and- only one year, and not three, they are our heroes does not
future.” dime our heroes. without further layoffs. excuse them from taking part in
But beyond institutions, Legislators have been able to That police unions say they the difficult choices that must be
political -- and even cultural -- see the sense through the want to avoid layoffs yet act so made to restore solvency to state
norms play a role in the special sentimentality before, most as to make them necessary and local governments. If the
status of police and fire notably in the case of education should leave little doubt that unions won’t let them, and the
compensation. For one thing, policy, where the elite their priority is to preserve the elected class won’t make them,
cops and firemen are swing consensus -- from editorial privileges of their vested senior then the citizenry must shame
voters. boards to the Obama members at the expense of both them. Somebody must watch the
“Their unions are more administration -- is moving the rookies who are usually first watchmen.
powerful in the sense that they away from teacher hero-worship out the door and the — Daniel Foster is news editor
are more politically heterodox,” and the fetishization of things communities they serve. of NRO. This article first
says Barro. “Teachers’ unions like class size (a preoccupation In solving the immediate crisis appeared in the Aug. 30, 2010,
are nearly unanimous in their that happened to pad the coffers posed by the unions’ issue of National Review.
political support for Democratic of the unions) and toward intransigence, state and local Daniel Foster
officeholders. Fire and police teacher accountability. But governments facing structural
unions split their loyalties more, fiscal crisis notwithstanding, deficits must be allowed to
and are therefore in a better this has yet to happen in public lower labor costs without
E-reader News Edition Politics-Right/ 87
BURSTING page 88
88 E-reader News Edition
GUEST BURSTING
continued from page 82 continued from page 87
2. International business nearby educational institutions; imagine business management which fostered much of the However, this sensible approach
courses must address the impact and curriculums with the previously housing and bank crises in the runs contrary to the background
of terrorism and all hazards 6. In order to better protect prescribed homeland security purported interest of social of administrations officials, who
preparation and response in their business entities from cyber oriented courses we would be justice. These government are short on real-world private
design; attacks, students should be well on our way to developing a institutions offered loans for sector experience, and long on
3. Logistics and supply chain required to complete a basic culture of critical infrastructure little to no down payment with the teachings of economists like
courses must have modules on course in IT security/ preparedness and protection by promises of continuing and Paul Krugman.
supply chain security and information assurance. the year 2020. unending equity. When the To understand the economic
compliance with U.S. and The benefits of requiring Ed Piper is an Adjunct housing bubble burst, so did this priorities of the administration is
international security America’s business schools to Professor Johns Hopkins promise to homeowners; they to understand Krugman. The
requirements; take a leadership role in University/Carey School of were forced into foreclosure or mortgage program is rife with
4. Human resource courses integrating critical infrastructure Business. into the arms of a government the tendencies of his type of
must integrate security preparedness courses into The views expressed by guest bailout. economics. The New York
management issues into their existing business curriculums bloggers on the Foundry do not But for many, a bailout hasn’t Times columnist and Nobel
curriculum to include workplace should be obvious. This return necessarily reflect the views of come. It was reported this week prize-winning economist has led
violence, domestic and on investment will allow the the Heritage Foundation. that nearly half of those who the call for more spending, and
international terrorism, and private sector to develop a new This entry passed through the were part of the mortgage even a second stimulus,
emergency management; group of leaders who are better Full-Text RSS service — if this program have been forced to claiming the first one wasn’t
5. There should be mandatory prepared to make well-informed is your content and you're drop out due to an inability to effective enough — despite the
courses in business continuity, decisions on the allocation of reading it on someone else's site, provide proper documentation, failure of the initial program.
crisis management, and the corporate resources and monies please read our FAQ page at including proof of employment. He’s attacked more libertarian
basic principles of homeland needed to better protect the fivefilters.org/content-only/ Such documentation is lacking suggestions, such as Rep. Paul
security to include ICS/NIMS. private infrastructures of the faq.php because many homeowners, Ryan’s economic roadmap, with
Business schools that do not United States. Leading Five Filters featured thanks to 10-percent national farcical claims of budgetary
have qualified faculty members practitioners from the field of article:"Peace Envoy" Blair Gets unemployment, have no jobs. malfeasance and improper
to address these special topic applied behavioral science and an Easy Ride in the The program has continued to scoring.
courses should allow business organizational development Independent. complicate a housing mess that Ryan has refuted all of these
students the opportunity to take have estimated that it takes has roots as far back as the claims, but this surely won’t
these courses within other approximately 5 years to change Carter and Clinton curtail Krugman’s weekly
departments(criminal justice, the culture of an organization. If administrations. screeds in the New York Times,
security studies, and homeland we could convince the deans of This news should alarm the which are often low on facts and
security programs) located America’s business schools to administration and encourage it ideas, and replete with ad
either within the university or at take the actions necessary to re- to take an immediate pro-growth hominem. His approach to
stance toward the economy, but economics and opinion writing
most indications are that it is best illustrated in his book
won’t. Some Democrat “Conscience of a Liberal.”
politicians are calling to make
the Bush tax cuts permanent or
to institute other pro-growth
solutions, such as temporarily
suspending payroll taxes.
E-reader News Edition 89
AYN SEE,
continued from page 85 continued from page 80
private conduct befitting a cult regulatory class to legislate. The second difference is one of three months behind, and they causing banks to make trial
leader -- it would not have been In some of its satire as well -- motive. There is no room at all can never recover from the offers to people without fully
in harmony with her philosophy. and Rand can be quite funny as in Atlas Shrugged for the idea penalties and late fees, so they vetting their eligibility, and
*** a satirist -- Atlas Shrugged that its policymakers are acting end up in worse shape than if ultimately letting in many
A final, brief word about Atlas seems timely. “An atmosphere on good-hearted but misguided the program had never existed homeowners who were destined
Shrugged in the contemporary suggesting the kind of meeting principles. They are parasites, from the outset.” to fail.”
political scene. There are indeed where a presiding body puts plain and simple, aware of their The aide, who works on But from the banks’ point of
parallels. For example, Henry something over on a mentally evil even if they take pains to constituent issues, says, “I’ve view, even if many of these
Rearden, who owns steel mills retarded membership” could hide it from themselves (this in had at least one case where the borrowers end up in foreclosure,
and has invented a new alloy, is serve as a characterization of fact confirms their awareness), person gets a letter saying that at least the program juiced a few
required by the government to Nancy Pelosi’s procedural which is why Rand is happy to they qualify for HAMP, and trial payments out of those who
sell his eponymous metal to all gymnastics; its hyperbole would hurl them all -- if I may quote from their point of view, it had stopped making payments
comers. This is not exactly the emphasize an important truth. Chambers a final time -- into would really help them out if altogether. And it eased the
same as, but not altogether But the parallels should not be “one undifferentiated they were able to qualify for a crush of foreclosures for awhile,
different from, our overstated. There are two huge damnation.” lower payment, but if they had giving Fannie, Freddie, and
government’s command that differences between our world Quite apart from its colossal to make the payment they were other financial institutions room
health insurers provide coverage and the world of Atlas artistic defects, then, Atlas making, they could have done it to breathe. It was designed, as
to all. Or consider this bit of Shrugged. The first is one of Shrugged’s power as an anthem by cutting back on other parts of Treasury officials are now
dialogue: degree: Rand’s looters are trying against President Obama’s their life. candidly admitting, to help
“They’re not laws, they’re to Sovietize the United States, agenda seems to me to be highly “Then at the end of the process, banks, not homeowners.
directives.” whereas Obama & Co. would be limited, and I think those of us they’re denied the modification, Supporters of the program are
“Then it’s illegal.” content to remake us as a who oppose that agenda would and they’re three months behind shocked by this turn of events.
“It’s not illegal, because the European-style social be unwise to push it as our on their mortgage,” he says. They wouldn’t be, if they had
Legislature passed a law last democracy. There are good manifesto. Why have so many been denied listened to us.
month giving him the power to reasons to object to both, but it — Jason Lee Steorts is modifications? According to -- Stephen Spruiell is a National
issue directives.” would be a tremendous mistake managing editor of National ProPublica’s Ryan Knutson, it’s Review Online staff reporter.
#ad#The characters could easily to ignore the differences Review. Jason Lee Steorts because“the Treasury Stephen Spruiell
be talking about our treasury between them, and promoters of Department . . . encouraged
secretary’s vast to-be-specified Atlas Shrugged should be banks to start trials quickly,
powers under the new financial- consciously on guard against
regulation bill -- or any other implying that Obama favors the
“progressive” law empowering a former.
90 Politics-Right/ Social Media/ E-reader News Edition
INVENTING
Iran Begins Fueling Nuclear Reactor continued from page 81
invent something that does not must snuff them out, lest their
at Bushehr currently exist.
#ad#Real reform can also be
reforms “spread like wildfire in
a field of thorns.”
James Phillips (The Foundry: found in some Muslim sects. Today, “moderate Islam” is an
Conservative Policy News.) The Ahmadi, for example, hold illusion. There is hardly a spark,
Submitted at 8/24/2010 10:00:30 AM
some unorthodox views and much less a wildfire. Making
reject violent jihad. Witness moderation real will take more
Posted August 24th, 2010 at what happens: They are brutally than wishing upon a star. It calls
11:00am in American persecuted by Muslims in for a gut check, a willingness to
Leadership Print This Post Pakistan, as well as in Indonesia face down not just al-Qaeda but
Iran on Saturday began fueling and other purported hubs of the Qaradawis and their sharia
its Bushehr nuclear power plant, moderation. campaign. It means saying: Not
a process that is likely to take Meanwhile, individual Muslim here.
many days. The reactor’s reformers are branded apostates, — Andrew C. McCarthy, a
operations must then be tested meaning not only that they are senior fellow at the National
before it starts producing discredited, but that their lives Review Institute, is the author,
electricity, which is expected in are threatened as well. The most recently, of The Grand
about two months. Russia’s signal to other Muslims is clear: Jihad: How Islam and the Left
Rosatom state nuclear power Follow the reformers and Sabotage America. Andrew C.
company, which built the Israeli preventive attack to serve as a defense umbrella for experience the same fury. As McCarthy
reactor, has assigned Russian d e s t r o y I r a n ’ s n u c l e a r all freedom-loving nations in the Qaradawi put it in the 2005
technicians to jointly operate the infrastructure. Iran’s Defense face of world aggressors. We interview, public apostates are
reactor for several years, as M i n i s t e r , A h m a d V a h i d i , don’t want to attack anywhere, “the gravest danger” to Islamic
Iranian technicians gradually warned Israel against such an Iran will never decide to attack society; therefore, Muslims
gain full control over the attack: “We may lose a power anywhere, but our revolution
operations. plant, but the whole existence of cannot sit idle in the face of
The startup of the reactor is the Zionist regime will be t y r a n n y , w e c a n ’ t r e m a i n Top 5 Ways Big Brands
another sign of Iran’s steady jeopardized.” indifferent.”
progress across many nuclear Iran’s President, Mahmoud This entry passed through the
fronts. Although the Bushehr Ahmadinejad, also made an Full-Text RSS service — if this
are Using Foursquare
reactor is a relatively minor a p p e a r a n c e o n S u n d a y t o is your content and you're Matt Silverman (Mashable!)
proliferation risk, because it will participate in the ongoing war of reading it on someone else's site, Submitted at 8/24/2010 11:46:49 AM
b e m o n i t o r e d b y I A E A nerves between Iran and the please read our FAQ page at
inspectors and Iran has much West. Appearing at a press fivefilters.org/content-only/ This series is supported by The be immediately apparent. At
better options for obtaining c o n f e r e n c e t o u n v e i l t h e faq.php Awareness Social Marketing present, the location-based
bomb-grade fissile material prototype of a long range drone Hub, a leading enterprise-grade network is less about
F i v e F i l t e r s f e a t u r e d application for marketers conversations and resource
f r o m o t h e r s o u r c e s , t h e aircraft, Ahmadinejad said that article:"Peace Envoy" Blair Gets
impending startup is one more Iran should seek the ability to a n E a s y R i d e i n t h e struggling with the social media sharing, and more about tying
nuclear threshold that Iran is on make preemptive strikes against I n d e p e n d e n t . chaos of managing multiple your social activities to physical
the verge of crossing. This has an enemy. He said: “We should social channels. Click here to places.
fueled speculation about the reach a point when Iran would learn more. For brick-and-mortar
increasing likelihood of an Unlike other more mainstream
social networks, the business TOP page 91
potential of Foursquare may not
E-reader News Edition 91
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continued from page 90
businesses, a Foursquare for Foursquare, Zagat is it. The is certainly part of MTV’s as a restaurant and night club in deploying more than 200
strategy makes a lot of sense. 30+ year-old publication is the Foursquare appeal. 4. Urban the 1920s? communities and social media
But what about brand promotion go-to guide for restaurant and Exploration: New York This is a clever use of indirect projects for the world’s biggest
in general, say in the hotel reviews, and their embrace Magazine marketing. The History Channel brands including Sony, JetBlue,
entertainment or publishing of numerous social media New York Magazine uses doesn’t have to promote its Kodak, ASOS.com and
worlds? With Foursquare, it’s channels is noteworthy. Foursquare to drive home its shows or link back to content to AIRMiles, The Awareness
not about linking users back to Zagat uses Foursquare the way coverage of city-specific remind fans why they enjoy the Social Marketing Hub is a
your site or products, but many individual users do — by culture. This account is about programming. More than leading enterprise-grade
creating a new location-based leaving food-related tips about much more than just food. It 47,000 followers are already application for marketers
product that has value for fans locations. And Zagat is not city- targets the social New Yorker enjoying the historical tips left struggling with the social media
and followers. Here’s how five specific. You’ll find foodie tips with tips on retail stores, bars, by the account, since its launch chaos of managing multiple
big brands are attempting to from Los Angeles, to New and public spaces. in April. Conclusion social channels. With the
connect location to their online York, to Cambridge, MA. The tips not only offer details The trouble with emerging Awareness Social Marketing
social presences. 1. Zagat’s Foursquare account is on pricing and goings-on, but networks like Foursquare is that Hub, marketers are now able to
Recommendations with an obvious way to reinforce provide links back to the users and big brands alike are publish, manage and measure
Personality: Bravo everything the brand is known magazine’s website for deeper having difficulty sticking with across all their social channels
In the television industry, for, and perhaps tap into a new coverage. In this regard, New it. In all of the examples above, from one central location using
Bravo was one of the first demographic of diners who may York Magazines’ approach to you can see that brand advanced built-in permissioning,
networks to get on board with be reluctant to carry around a Foursquare is akin to the Twitter representatives jumped into the workflow and audit controls.
Foursquare, and 50,000 of its paperback guide in addition to strategy of many publishers, checkin game with vigor early More Location Resources from
fans have followed so far. The their smartphones. 3. Celebrity with the added value of location. on, but eventually updated the Mashable:
network’s programming is a mix Sway: MTV 5. Edutainment: The History accounts less and less — some - Why Location-Based Social
of food, fashion, and reality While we may not yet live in a Channel have not added tips for months. Media Needs to Get “Passive”
drama, and the TV personalities world where celebrities want Staff at The History Channel For now, location services are Aggressive
and hosts that viewers love are fans to know their locations in know what their viewers are into still an ancillary part of many - Top 16 Unusual Foursquare
the ones making real-time, filtering their favorite — it’s fairly obvious, given the social media strategies, but they Badges
recommendations on places through an over-arching namesake. So while Foursquare won’t be forever. Many predict - Why QR Codes Are Poised to
Foursquare. brand is a good start. doesn’t offer much in terms of that when cultural acceptance, Hit the Mainstream
Restaurant, shopping, and hotel Fans can keep tabs on the driving traffic to a program or mainstream social integration, - Beyond the Checkin: Where
suggestions reinforce Bravo’s favorite haunts of stars from website, locations are fostering and business value finally Location-Based Social
image as a network of culture Jersey Shore and The Hills, an interesting kind of brand coincide, location sharing will Networks Should Go Next
experts, and the personalities driving the social connection to engagement here. be as common and natural as - 5 Cool Non-Profit Uses of
who leave tips through the brand these personalities beyond the The account leaves tips at updating your Facebook status. Location-Based Tech Reviews:
add that bit of personal flavor or TV and into The Real various sites, including When it happens, will your Facebook, Foursquare, Twitter
sass that draws viewers to the World(pun intended). interesting historical brand be ready? Series More About: brand, brands,
shows in the first place. Fans Not only can users see where background on the locations. It’s supported by Awareness bravo, business, foursquare,
don’t follow for Bravo per se; the stars have been, but what trivia, but with a real-world and Awareness builds social history channel, List, Lists,
they’re following to see where they did, enjoyed, and educational context. For marketing software for location, location-based,
Top Chefs and Millionaire recommend. And there’s instance, did you know that the marketers leveraging multiple MARKETING, Mobile 2.0,
Matchmakers spend their time always the possibility that Wabasha Street Caves in St. social channels to engage with mtv, small business, social
in New York and LA. 2. visiting a bar frequented by a Paul, MN are man-made customers, build their brand, media, social media for business
Restaurant Reviews: Zagat celeb increases your chances of sandstone mines that date back and increase revenues. Built
If there was ever a brand made meeting him or her. That aspect to the 1840s, and were opened upon Awareness’ expertise TOP page 92
92 Social Media/ E-reader News Edition
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Annie Lennox & Judy McGrath to Speak at continued from page 91