25 July 2009

Paul Krugman: Is the threat of speculation a reason to shun cap and trade?

There are many obstacles to taking action on climate change. Most of those obstacles have deep roots: there are powerful interest groups that don’t want market prices to reflect true costs, and there are ideologues — financially supported by these interest groups — who don’t want to admit that sometimes the government has to intervene.

But there’s also, it seems, growing opposition to cap-and-trade from people who should be on the side of progress — but whose reaction is basically “Eek! Markets!Wall Street! Speculation! Bad!”

Paul Krugman: Why markets can’t cure healthcare

Judging both from comments on this blog and from some of my mail, a significant number of Americans believe that the answer to our health care problems — indeed, the only answer — is to rely on the free market. Quite a few seem to believe that this view reflects the lessons of economic theory.

Not so. One of the most influential economic papers of the postwar era was Kenneth Arrow’s Uncertainty and the welfare economics of health care, which demonstrated — decisively, I and many others believe — that health care can’t be marketed like bread or TVs. Let me offer my own version of Arrow’s argument.

The Cheney Plan to Deploy the US Military on US Soil

by Glenn Greenwald

This new report [1] today from The New York Times' Mark Mazzetti and David Johnston reveals an entirely unsurprising though still important event: in 2002, Dick Cheney and David Addington urged that U.S. military troops be used to arrest and detain American citizens, inside the U.S., who were suspected of involvement with Al Qaeda. That was done pursuant to a previously released DOJ memo [2] (.pdf) authored by John Yoo and Robert Delahunty, addressed to Alberto Gonzales, dated October 23, 2001, and chillingly entitled "Authority for Use of Military Force to Combat Terrorist Activities Within the U.S." That Memo had concluded that the President had authority to deploy the U.S. military against American citizens on U.S. soil. Far worse, it asserted that in exercising that power, the President could not bound either by Congressional statutes prohibiting such use (such as the Posse Comitatus Act) or even by the Constitution's Fourth Amendment, which -- the Memo concluded -- was "inapplicable" to what it called "domestic military operations."

The Health Care Debate: Another Country Heard From

One of the big differences between the 1993 Hillarycare debate and our current conversation is that we're hearing a lot more fact and lot less fiction about how other countries' systems actually work.

Thank the Internet. Back in 1993, the "Harry and Louise" ads succeeded because most Americans didn't have access to any other sources of information. Now, the whole world is at our fingertips. Anybody who really wants to know how health care is managed in Canada, or the UK, or Japan, or Australia can readily find someone with real experience in those systems who can tell their stories.

But progressive Americans living overseas aren't waiting around any more for y'all to ask. Some of us are getting proactive about sending our stories home. All around the world, there are millions of American citizens who have first-hand experience with other countries' health care systems. And Democrats Abroad, the world's largest political gathering of expatriate Americans, is getting us organized to tell our stories.

Who Is Keeping The CBO's Public Plan Estimates Secret?

The House's bill contains a public option that would pay a Medicare rates plus 5%. According to the CBO [1] this will make the House's public plan roughly 10% cheaper than private insurance. Since the size of subsidies are based on the average of the three cheapest plans it should dramatically reduce the cost of the bill.

Over a week ago Jonathan Cohn [2] at New Republic was leaked a report that the House's public plan would reduce the cost of the bill by roughly $150 billion. The official bill has been out for days and the CBO must have evaluated the potential savings from the public plan. Yet no estimates have been released. Someone is purposely hiding the cost savings from the public plan.

Stock Traders Find Speed Pays, in Milliseconds

It is the hot new thing on Wall Street, a way for a handful of traders to master the stock market, peek at investors’ orders and, critics say, even subtly manipulate share prices.

It is called high-frequency trading — and it is suddenly one of the most talked-about and mysterious forces in the markets.

Powerful computers, some housed right next to the machines that drive marketplaces like the New York Stock Exchange, enable high-frequency traders to transmit millions of orders at lightning speed and, their detractors contend, reap billions at everyone else’s expense.

House permits needle exchange programs

WASHINGTON — The House voted Friday to lift a ban on using taxpayer dollars for needle exchange programs for intravenous drug users intended to prevent the spread of HIV and other diseases.

The vote to lift a longstanding ban on federal aid for such programs — in place since 1988 — came after a brief but passionate debate on an amendment by Rep. Mark Souder, R-Ind., to keep the ban in place. His amendment failed by a 211-218 vote.

24 July 2009

The Attack of the 1-Percenters

By David Sirota

Here’s a truism: The wealthiest 1 percent have never had it so good.

According to government figures, 1-percenters’ share of America’s total income is the highest it’s been since 1929, and their tax rates are the lowest they’ve faced in two decades. Through bonuses, many 1-percenters will profit from the $23 trillion in bailout largesse the Treasury Department now says could be headed to financial firms. And, most of them benefit from IRS decisions to reduce millionaire audits and collect zero taxes from the majority of major corporations.

But what really makes the ultrawealthy so fortunate, what truly separates this moment from a run-of-the-mill Gilded Age, is the unprecedented protection the 1-percenters have bought for themselves on the most pressing issues.

Who Is Killing America's Millionaires?

It isn't the tax man.

By Daniel Gross

It hasn't been a good recession for the rich. The late boom was extraordinarily top-heavy, with the overwhelming majority of economic gains seemingly defying gravity and flowing to the top rung of the economic ladder. Now those with the most assets and income have the most to lose. Add together the declining markets, an imploding finance sector, a real estate rot that has eaten its way up from the ground floor to the penthouse, and the predations of Bernie Madoff and Sir Allen Stanford, millionaires who ripped off other millionaires, and, as my Newsweek colleague Robert Samuelson notes, these are tough times for the wealthy.

As if market forces and malevolent actors weren't enough, the rich are now finding themselves targeted by politicians. Strapped for cash, states, cities, and the federal government are seeking to soak the rich—or at least to make them pay taxes at the same marginal rates as they did in the Reagan years, which many on the right regard as an act equivalent to executing landed gentry. Some politicians have even suggested that we fund health care by slapping a surtax on people with annual incomes of more than $1 million.

Paul Krugman: Costs and Compassion

The talking heads on cable TV panned President Obama’s Wednesday press conference. You see, he didn’t offer a lot of folksy anecdotes.

Shame on them. The health care system is in crisis. The fate of America’s middle class hangs in the balance. And there on our TVs was a president with an impressive command of the issues, who truly understands the stakes.

Mr. Obama was especially good when he talked about controlling medical costs. And there’s a crucial lesson there — namely, that when it comes to reforming health care, compassion and cost-effectiveness go hand in hand.

To see what I mean, compare what Mr. Obama has said and done about health care with the statements and actions of his predecessor.

Why is the nation's foremost media critic silent on Lou Dobbs' birther conspiracy theories?

July 23, 2009 10:44 am ET by Jamison Foser

Could it be because they are both employed by CNN?

Lou Dobbs' leap onto the Birther bandwagon has been big news this week. CNN reporters have debunked the conspiracy theory; MSNBC has covered it; Jon Stewart has mocked it; Chris Matthews has suggested the faux controversy is "not about documentation, but pigmentation." CNN officials have even felt compelled to comment.

Everybody, it seems, has weighed in, denouncing Dobbs' walk on the wild side.

Permafrost Could Be Climate's Ticking Time Bomb

By Amanda Morris , Northwestern University

posted: 24 July 2009 08:28 am ET

This Behind the Scenes article was provided to LiveScience in partnership with the National Science Foundation.

The terrain of the North Slope of Alaska is not steep, but Andrew Jacobson still has difficulty as he hikes along the spongy tundra, which is riddled with rocks and masks multitudes of mosquitoes.

Jacobson, a professor of earth and planetary sciences at Northwestern University, extracts soil and water samples in search of clues to one of global warming's biggest ticking time bombs: the melting of permafrost.

Permafrost, or frozen ground, covers approximately 20 to 25 percent of the land-surface area in the northern hemisphere, and is estimated to contain up to 1,600 gigatons of carbon, primarily in the form of organic matter. (One gigaton is equivalent to one billion tons.)

Fuel Cells, Energy Conversion, and Mathematics

Concerns about dwindling fossil fuel resources, current levels of petroleum consumption, and growing pressure to shift to more sustainable energy sources are among the many factors prompting the transition from our current energy infrastructure to one that uses less carbon and requires the efficient conversion of energy. This necessitates collecting energy from ambient sources including wind, solar, and geothermal power, and converting it into appropriate forms for distributing electricity. While it is possible for this electric power to be distributed efficiently, conversion is necessary for use in automobiles and large-scale storage is problematic.

Even healthy lungs labor at acceptable ozone levels

Ozone exposure, even at levels deemed safe by current clean air standards, can have a significant and negative effect on lung function, according to researchers at the University of California Davis.

"The National Ambient Air Quality Standard (NAAQS) for ozone was recently revised to set lower limits for ozone concentrations. Our research indicates that the threshold for decrements in ozone-induced lung function in healthy young subjects is below this standard," said Edward Schelegle, Ph.D., of the University of California Davis. "Specifically, we found that 6.6 hours exposure to mean ozone concentrations as low as 70 parts per billion have a significant negative effect on lung function, even though the current NAAQS standards allow ozone concentrations to be up to 75 parts per billion (ppb) over an eight-hour period."

23 July 2009

Blue Dogs: The Special Interest Pets

By Joe Conason

“Fiscal conservative” is one of those terms used by politicians of all sorts to describe themselves, without any real justification. Parroted mindlessly from one news cycle to the next by major media outlets, that phrase is often used to mislead the public about the priorities and policies favored by those who claim to embody budgetary prudence.

Consider the Democrats in the Blue Dog caucus, who constantly trumpet their fiscal conservatism and enjoy hearing that claim echoed in the media, especially now, when they are threatening to block health care reform. The Blue Dogs don’t like the public option for national health insurance; they bemoan the estimated trillion-dollar cost of covering everyone; and they zealously defend the prerogatives of the private insurance industry and the pharmaceutical manufacturers (who coincidentally give them millions of dollars in contributions). When it comes to spending money on the health of uninsured or underinsured constituents, the Blue Dogs worry about every penny.

Study: Abortion doctors, clinics 'routinely targeted'

WASHINGTON — An abortion-rights group said Wednesday that doctors and clinics that perform abortions in six states "are routinely targeted" for legal and physical harassment, including death threats, and called on the Justice Department to do more to protect clinic workers.

In a report, the Center for Reproductive Rights said that women seeking to terminate pregnancies in those states face a dwindling supply of providers as threats and intimidation take their toll.

Kentucky Chemical Weapons Leak Detectors Dysfunctional for Years

WASHINGTON, DC, July 20, 2009 (ENS) - The U.S. Army has acknowleged that the nerve gas leak monitors at a Kentucky chemical weapons storage depot were not working for nearly two years, 2003-2005. The admission is contained in a U.S. Army Inspector General report dated February 2006 but released today.

Managers of chemical weapons storage at the Blue Grass Army Depot, located outside of Richmond, 30 miles south of Lexington, had rendered the detectors inoperative and the problem was remedied only after a whistleblower was forced to file a complaint, according to the Inspector General investigation posted today by Public Employees for Environmental Responsibility, PEER.

Want To Menace US Leaders ? Join The Theocratic Far Right

By Bruce Wilson
Wed Jul 22, 2009 at 11:04:19 AM EST

The year was 1963. The month: March. Minutemen founder Robert DePugh, writing in his publication On Target, which had a masthead that featured a telescope gunsight's crosshairs superimposed over the magazine's name, branded twenty Congress members who had voted to de-fund the House Un-American Activities Committee: "Judases". DePugh's March On Target issue contained the following:

"TRAITORS BEWARE

See the old man at the corner where you buy your paper? He may have a silencer equipped pistol under his coat. That extra fountain pen in the pocket of the insurance salesman that calls on you might be a cyanide-gas gun. What about your milkman? Arsenic works slow but sure. Your auto mechanic may stay up nights studying booby traps.

22 July 2009

The NSA Is Still Listening to You

Bush went away, but domestic surveillance overreach didn't. It's now the law, and the ACLU is fighting back

by James Bamford

This summer, on a remote stretch of desert in central Utah, the National Security Agency will begin work on a massive, 1 million-square-foot data warehouse. Costing more than $1.5 billion, the highly secret facility is designed to house upward of trillions of intercepted phone calls, e-mail messages, Internet searches and other communications intercepted by the agency as part of its expansive eavesdropping operations. The NSA is also completing work on another data warehouse, this one in San Antonio, Texas, which will be nearly the size of the Alamodome.

The need for such extraordinary data storage capacity stems in part from the Bush administration's decision to open the NSA's surveillance floodgates following the 9/11 attacks. According to a recently released Inspectors General report, some of the NSA's operations -- such as spying on American citizens without warrants -- were so questionable, if not illegal, that they nearly caused the resignations of the most senior officials of both the FBI and the Justice Department.

Thomas Frank: A Conservative Sellout? Quelle Surprise.

‘David Keene is no conservative.”

That is what I predict Mr. Keene’s brethren on the right will soon be saying about the longtime chairman of the American Conservative Union (ACU).

Last week, Mr. Keene’s ACU became embroiled in another of Washington’s pay-to-play scandals, seeming to offer its services to an outside company for a cash consideration. And virtually the only way conservatives have of dealing with such an embarrassment is to declare the miscreant an “impostor,” to find that the city changed him rather than the other way around, and to excommunicate him from the movement.

Solid Reformer Picked to Investigate How We Got into the Financial Mess

y William Greider, TheNation.com
Posted on July 21, 2009, Printed on July 22, 2009
http://www.alternet.org/story/141463/

Angelides, the former state treasurer of California, is a tough-minded liberal with hands-on knowledge of high finance and the social contradictions in modern capitalism. So it is remarkable that Angelides has been chosen to chair the Financial Crisis Inquiry Commission newly created by Congress. The commission has enormous potential to generate deeper reforms than anything President Obama has yet proposed, simply by digging out the hard facts of what caused the financial collapse.

An honest investigation--like the Pecora hearings that famously revealed the truth of what caused the Great Depression--could splash embarrassment on both political parties and turn up shocking evidence of the political collusion between Washington and Wall Street. But can we really expect such a truth-telling creature to emerge from Congress? Maybe we can. The appointment of Angelides is a very promising start because of his record as an aggressive reformer on issues like corporate governance, social equity and environmental reform. The danger is that the Angelides commission will be paralyzed by the usual hard-nosed tactics of Washington partisans.

21 July 2009

Poll: Canadians like their health care despite grumbles

Critics opposed to revamping the American health-care system say it'll turn the country into Canada, with a nationalized system where people die as they wait for needed services. But a new poll shows that 65 percent of Canadians say they get the health care they need at costs they can afford; just 49 percent of Americans said the same thing.

Tires made from trees -- better, cheaper, more fuel efficient

Automobile owners around the world may some day soon be driving on tires that are partly made out of trees -- which could cost less, perform better and save on fuel and energy.

Teen Pregnancy and Disease Rates Rose Sharply During Bush Years, Agency Finds

by Chris McGreal in Washington

Teenage pregnancies and syphilis have risen sharply among a generation of American school girls who were urged to avoid sex before marriage under George Bush's evangelically-driven education policy, according to a new report by the US's major public health body.

In a report that will surprise few of Bush's critics on the issue, the Centres for Disease Control says years of falling rates of teenage pregnancies and sexually transmitted disease infections under previous administrations were reversed or stalled in the Bush years. According to the CDC, birth rates among teenagers aged 15 or older had been in decline since 1991 but are up sharply in more than half of American states since 2005. The study also revealed that the number of teenage females with syphilis has risen by nearly half after a significant decrease while a two-decade fall in the gonorrhea infection rate is being reversed. The number of Aids cases in adolescent boys has nearly doubled.


Seance on Wall Street

There is a long history of mediums who claim to communicate with the dead. They sell their services to people anxious to talk to relatives or great figures of the past. Such exercises can be dismissed as harmless entertainment - people spend a few dollars to be treated to tall tales.

There is a Wall Street equivalent to these seances. People who claim to be knowledgeable about financial markets tell policy makers and reporters what the financial markets are thinking about current policy. These Wall Street seers claim to interpret events in financial markets for those of us who are less familiar with the mysteries of market movements.

The Great Tax Con Job

Republicans are using the T-word - taxes - to attack the Obama healthcare program. It's a strategy based in a lie.

A very small niche of America's uber-wealthy have pulled off what may well be the biggest con job in the history of our republic, and they did it in a startlingly brief 30 or so years. True, they spent over three billion dollars to make it happen, but the reward to them was in the hundreds of billions - and will continue to be.

20 July 2009

Obama Blogger Call On Health Care

by dday

I had a chance to participate in a conference call with President Barack Obama and some bloggers today about the health care debate. Clearly the very fact of this conference call's existence shows that the White House is leaving no stone unturned in searching for allies to help sell reform, and that the President is ready to step forward in this debate. That's a good thing. He still has enough political capital to manage the process where he wants it to go, and if he wants certain elements of the policy included in the final bill, provided that there is a final bill, I wouldn't bet against them getting in there. And the result of the conference call was interesting.

News Junkie Smackdown

Who's Better Informed, Newspaper Readers or Web Surfers?

By Michael Kinsley
Posted Monday, July 20, 2009, at 5:19 PM ET

What if there were no newspapers anymore? Some people, mainly newspaper reporters and publishers, are warning that this is where we're heading. And they declare, as with a single loud voice, "You'll be sorry!" To save ourselves 50 cents or a buck, they say, we will be denying ourselves crucial knowledge that we need to be well-informed citizens of a democracy.

Even in the good old days when newspapers were hugely profitable, readers weren't paying for what they read in newspapers. That 50 cents or a buck barely paid for the paper and ink, let alone the delivery—and never mind the cost of the content. More customers than ever are eager to read newspapers, and they demonstrate that every day by going to newspaper Web sites. By foregoing paper and ink, the readers are saving newspaper publishers more money than it would cost to produce and deliver the paper the old-fashioned way. Newspapers' financial troubles cannot be blamed on the readers. Nevertheless, publishers—almost as disenchanted with advertisers as the advertisers are disenchanted with newspapers—look to readers for their salvation.

Major Cities' Plummeting Crime Rates Mystifying

Killings in the District, Pr. George's Have Fallen

by Allison Klein

Violent crime has plummeted in the Washington area and in major cities across the country, a trend criminologists describe as baffling and unexpected.

The District, New York and Los Angeles are on track for fewer killings this year than in any other year in at least four decades. Boston, San Francisco, Minneapolis and other cities are also seeing notable reductions in homicides.

"Experts did not see this coming at all," said Andrew Karmen, a criminologist and professor of sociology at the John Jay College of Criminal Justice in New York.

In the District and Prince George's County, homicides are down about 17 percent this year.

Subprime Brokers Back as Dubious Loan Fixers

LOS ANGELES — From the ninth floor of a downtown office building on Wilshire Boulevard, Jack Soussana delivered staggering numbers of mortgages to homeowners during the real estate boom, amassing a fortune.

By Mr. Soussana’s own account, his customers fared less happily. He specialized in the exotic mortgages that have proved most prone to sliding into foreclosure, leaving many now scrambling to save their homes.

Yet the dangers assailing Mr. Soussana’s clients have yielded fresh business for him: Late last year, he and his team — ensconced in the same office where they used to broker mortgages — began working for a loan modification company. For fees reaching $3,495, with most of the money collected upfront, they promised to negotiate with lenders to lower payments on the now-delinquent mortgages they and their counterparts had sprinkled liberally across Southern California.

Not With A Bang, But A Whimper

by: Robert Cruickshank

Sun Jul 19, 2009 at 15:27:25 PM PDT

And so the budget drama hurtles toward its inevitable conclusion, perhaps as soon as tomorrow. Democrats have caved and given Arnold Schwarzenegger what he wanted - a cuts-only budget that does massive and lasting damage to the state of California, to the people who live here, and to our collective future. It's taken 31 years, but Howard Jarvis is finally going to get the wholesale destruction of public services he always wanted.
After resolving their major education dispute Friday, Gov. Arnold Schwarzenegger and legislative leaders hope to finalize a budget deal today that closes California's $26 billion deficit with spending cuts, accounting shifts and revenues from local governments.

State leaders have agreed on a general budget framework and gave attorneys and budget aides time Saturday to draft a bill, sources close to negotiations said....

Children's IQ can be affected by mother's exposure to urban air pollutants

July 20, 2009 -- Prenatal exposure to environmental pollutants known as polycyclic aromatic hydrocarbons (PAHs) can adversely affect a child's intelligence quotient or IQ, according to new research by the the Columbia Center for Children's Environmental Health (CCCEH) at the Mailman School of Public Health. PAHs are chemicals released into the air from the burning of coal, diesel, oil and gas, or other organic substances such as tobacco. In urban areas motor vehicles are a major source of PAHs. The study findings are published in the August 2009 issue of Pediatrics.

The study, funded by the National Institute of Environmental Health Sciences (NIEHS), a component of the National Institutes of Health, the U.S. Environmental Protection Agency and several private foundations, found that children exposed to high levels of PAHs in New York City had full scale and verbal IQ scores that were 4.31 and 4.67 points lower, respectively than those of less exposed children. High PAH levels were defined as above the median of 2.26 nanograms per cubic meter (ng/m3).

Interrogation Task Force Broadens Scope Beyond Techniques

Report Expected This Week Likely to Look Beyond What Harsh Techniques Should be Employed

By Spencer Ackerman 7/20/09 6:00 AM

The task force advising the Obama administration on interrogating terrorism-related detainees is wrapping up its work this week, and although some of its final recommendations remain unfinished, officials familiar with its work indicate that it will focus less on specific interrogation techniques than on recommending interrogators develop their non-abusive strategies around known information about the specific detainees being questioned.

As first reported in June by The Washington Independent, the task force, chaired by J. Douglas Wilson of the Justice Department, is likely to recommend removing the CIA as the lead federal agency in charge of terrorism interrogations in favor of a mixed team of interrogation specialists from the FBI, the CIA and the military. A consensus has formed within the task force that creating such teams is the optimal path for eliciting vital information from the highest-value terrorism suspects without jeopardizing potential prosecutions of those detainees.

Chemicals That Eased One Woe Worsen Another

By David A. Fahrenthold
Washington Post Staff Writer
Monday, July 20, 2009

This is not the funny kind of irony: Scientists say the chemicals that helped solve the last global environmental crisis -- the hole in the ozone layer -- are making the current one worse.

The chemicals, called hydrofluorocarbons (HFCs), were introduced widely in the 1990s to replace ozone-depleting gases used in air conditioners, refrigerators and insulating foam.

They worked: The earth's protective shield seems to be recovering.

But researchers say what's good for ozone is bad for climate change. In the atmosphere, these replacement chemicals act like "super" greenhouse gases, with a heat-trapping power that can be 4,470 times that of carbon dioxide.

Revealed: the hidden benefits of a private-school education

Private schools offering lavish extracurricular activities give their pupils an unfair advantage and should be forced to share their facilities with state pupils, says a report commissioned by the prime minister.

Former cabinet minister Alan Milburn was asked to look at how class barriers could be broken down in Britain and found that middle-class children whose parents do not move in the "right" circles, as well as those from poorer families, now risk being shut out of professions that have become more socially exclusive.

19 July 2009

The Thin Line Between Charm and Smarm

David Seaton points out that people like me (rational, debonair, immoderately well-informed, and utterly cosmopolitan when it comes to cheese selection) are irrelevant when it comes to the voodoo spell Sarah Palin exerts on her undead believers.

Many commentators, while admitting that Sarah Palin is attractive and charismatic, quickly discount her because little that she says will stand up to even the most cursory examination of its sense or nonsense. They fail to realize that this mixture of charisma and incoherence is precisely her most powerful political tool.

Elmendorf: More Cost Control; Orszag: We're Already On It.

Doug Elmendorf, director of the Congresional Budget Office, sent tremors through Washington when he gave congressional tesitmony on Thursday. Appearing first before the Senate Finance Committee and then the House Ways and Means Committee, Elmendorf declared that his office had not yet seen evidence that health reform legislation would substantially reduce the cost of medical care over the long run. Within minutes of the first appearance, blackberries all over town were buzzing, as e-mails carried headlines like this one from the Washington Post: "CBO Chief: Health Reform Measures Weaken Economy."

Assassinations Anyone? CIA Claims of Cancelled Campaign are Hogwash

by Eric Margolis

CIA director Leon Panetta just told Congress he cancelled a secret operation to assassinate al-Qaida leaders. The CIA campaign, authorized in 2001, had not yet become operational, claimed Panetta.

I respect Panetta, but his claim is humbug. The U.S. has been trying to kill al-Qaida personnel (real and imagined) since the Clinton administration. These efforts continue under President Barack Obama. Claims by Congress it was never informed are hogwash.

The CIA and Pentagon have been in the assassination business since the early 1950s, using American hit teams or third parties. For example, a CIA-organized attempt to assassinate Lebanon's leading Shia cleric, Muhammad Fadlallah, using a truck bomb, failed, but killed 83 civilians and wounded 240.

The Most Misunderstood Man in America

Joseph Stiglitz predicted the global financial meltdown. So why can't he get any respect here at home?

By Michael Hirsh | NEWSWEEK

Frank Rich: They Got Some ’Splainin’ to Do

AS political theater, the Sonia Sotomayor hearings tanked faster than the 2008 Fred Thompson presidential campaign. They boasted no drama to rival the Clarence-Anita slapdown, the Bork hissy fits or the tearful exodus of Samuel Alito’s wife. There was rarely a moment to match even the high point of the Senate’s previous grilling of Sotomayor — in 1997, when she was elevated to the Second Circuit. It was then that Senator John Ashcroft of Missouri previewed the brand of white male legal wisdom that would soon become his hallmark at the Bush Justice Department. “Do you believe there’s a constitutional right to homosexual conduct by prisoners?” he asked. (She aced it: “No, sir.”)