There’s been a lot of “irony” in politics lately (well, always but let’s talk about now). Palin admitted to using the Canadian government-run health care, something she’s been vehemently opposed to in the US.
In California, an ardent anti-gay politician, State Senator Roy Ashburn, admitted to being gay after his high-profile DUI arrest last week. Senator Ashburn, who has voted against numerous gay rights issues, will continue to vote according to the majority beliefs in his district. It’s funny because once he’s out of office (he doesn’t plan to run again after his term is up), he’ll be discriminated against for being the man he is now. But I guess what happens will happen. Ashburn said he’ll continue to “drawing on his Christian faith, and he asked people to pray for him.” Ha.
With the fall of finance, Wall Street, and the global economy, there were many calls to not only fix the problem but to figure out the root of the causes. President Obama heard the calls and formed the Economic Recovery Advisory Board when he came into office early 2009. He appointed former Federal Reserve Chairman Paul Volcker, a man widely known and respected, as the chair of the board.
It seems, as of late, that Mr. Volcker’s suggestions have been ignored by the administration that called on him to save the country from the closest we have been to economic wreckage since the Great Depression. Why, you may ask, are they ignoring a prominent economist and knowledegable expert? Volcker has been suggesting bringing back a modern form of the 1933 Glass-Steagall Act that was passed during the Great Depression. Its provisions included the prohibition of bank holding companies from owning financial companies, presumably those involved with stocks and other derivatives. The Glass-Steagall Act was effectively repealed in 1999 by the Gramm-Leach-Bliley Act, allowing banks and brokerages to combine and reap tremendous profits at the expense of the average citizen. Of course, most big banks are completely against such an action (how can they make those fat profits they’re starting to make again?). The banking lobby is calling it an antiquated law that would be ineffective in today’s climate and consequently make America much less competitive on a global scale. Volcker, understanding these criticisms, retorted:
“People say I’m old-fashioned and banks can no longer be separated from nonbank activity…That argument,” he added ruefully, “brought us to where we are today.”
Economist and Nobel laureate Joseph E. Stiglitz has echoed the same sentiments as Volcker but fully cognizant that the former Fed Chairman is “embarked on a quixotic journey.” Former Citigroup CEO John S. Reed has joined the small chorus of Glass-Steagall-ites and has endorsed the same proposal saying it would “go a long way toward building a more robust financial sector.”
I agree with these men in saying that banking activities should be completely separate from other financial activities. Unless President Obama’s new proposal has better guidelines for these banks, what’s to stop them from repeating their actions with a resulting taxpayer-funded bailout? Limiting executive pay? That’s almost a laughable offense if they weren’t serious. Maybe the new “Too Big to Fail” bill will reveal the insights to which way the administration and Congress are planning to deal with the current crisis.
Sustainable food once seen in activist circles is starting to gain acceptance as some norm. This week, San Francisco Mayor Gavin Newsom signed an executive order hoping to turn vacant lots – basically any area that is city-owned but unused – into small gardens. The idea is to create a vibrant local economy while reducing greenhouse gas emissions produced from shipping food and reducing the dependence on mass-manufactured foods. The premium on fresh food is probably worth the
Recently, a California law requiring the disclosure of nutritional information at certain restaurants came into effect. You’d be amazed at how much people would deter towards eating certain foods when shown the nutritional information. Especially considering how many calories there are in many restaurant items. Coincidentally, an experiment done on monkeys showed that restricting your caloric intake could lead to a longer and healthier life.
It’s great that these necessary steps are being done to make consumers aware of what goes into their body. We often trust what is served to us on a plate just because there’s a sign in the front marked ‘A’ (the restaurant sanitation grade). Too much money is wasted on preventable diseases (read: obesity and diabetes). Information is a huge part of the reason why all of these things happen. Overall, they are great steps towards creating a healthier future. These new movements along with some type of universal health care are what will improve this country.
Sen. Richard Lugar (R-Ind.) has signaled for the US to make a move in the right direction. Sanctions on Cuba have done nothing to help the US and, in fact, have just strengthened Cuba’s communist resolve. Let’s hope this goes somewhere.
Bob Barr, once the ardent Republican representative from Georgia and currently the Libertarian Party’s candidate for President, has finally come to terms with one of his many controversial positions – the War on Drugs. It was Barr who was a vocal supporter and policy-maker for the War on Drugs and repeatedly defended his position. He repeatedly blocked any medical marijuana legalization initiatives started in D.C. by claiming:
There is no legitimate use whatsoever for marijuana. This is not medicine. This is bogus witchcraft. It has no place in medicine, no place in pain relief…
But now the Libertarian, who is increasingly viewed by many Republicans as to what Nader is to the Democrats, has reversed his position on marijuana and the War on Drugs. I’m glad that he can finally admit to his failures and move on from there. Whereas some politicians hide behind statements or subtly make changes to fit the political arena, I think Barr made a wise decision by admitting outright that he was wrong and his policy was a complete failure.
…when government attempts to solve our societal problems, it tends to create even more of them, often increasing the size and depth of the original problem. A perfect example of this is the federal War on Drugs.
Good job, Barr. Although I don’t support you, I do greatly respect you and your (new) views.