Gas prices continue to dominate in the Us and cast a serious pall over the administration. Last Thursday, Obama announced an inter-agency task force to investigate speculation. On television yesterday, freshman Democratic Senator Ralph Blumenthal pressed for empaneling a federal grand jury: Blumenthal, Connecticut’s former attorney general, said on CBS’ “Face the Nation” that federal officials need to play hardball. “I commend and applaud the president for focusing on this issue but I think there really needs to be an investigation involving, for example, subpoenas and compulsory process which I used as attorney general in similar investigations. There needs to be very possibly a grand jury to uncover the potential wrongdoing,” said Blumenthal, who was elected to the Senate last year. “The Justice Department should take the lead, seize this moment and send a message, a very strong deterrent message that this country will not tolerate the kind of illegal speculation and trading and hedge fund activity that may be driving prices up,” he added. To which Republicans have their ready-made answer. Hit F8 and out comes: But House Speaker John Boehner’s (R-Ohio) office on Friday called the Democratic focus on potential market abuses a distraction from the need to expand U.S. oil-and-gas drilling (although this would not affect prices in the short-term). I think that parenthetical is the handiwork of the reporter, that is, Boehner probably didn’t say it. If he did, good for him, but that’s not the m.o. The m.o. is to chant “drill baby drill” even though that might lower gas prices in about four or five years. On the issue of speculation, I have been reading some things, and it seems clear that the unrest in the Middle East has led to more speculation, which does help hike prices. Here’s some info from a Senator Al Franken press release, touting legislation he’s trying to advance: The senators are pushing for tougher regulation because new data shows oil trades by speculators have jumped 35 percent since the latest round of civil unrest began in late January in North Africa and then the Middle East. During that same period, U.S. gas prices have soared by almost 40 percent. And here’s a little more information for you: Speculators can currently buy $100 worth of oil futures with only $6 down, while investors in stocks put down 50%. The Commission has the authority to call for higher margin requirements from exchanges where oil futures and various other commodities are traded. “New margin requirements could take effect as soon as July, but the CFTC must begin the rulemaking process now,” the lawmakers wrote. “The commission” is the Commodity Futures Trading Commission, which oversees this. The House GOP wanted to cut its budget by around $90 million, or basically cut it in half. But under the deal that averted the government shutdown, it actually got a 20% increase, to $203 million. Meanwhile, says Think Progress, citing the Wall Street Journal, Exxon’s profits are expected to rise this year by 50%. Republicans are going to war on gas prices: drill drill drill. The Democrats have a populist response, and the benefit of talking about something (Franken’s idea) that could have impact immediately. Will they seize on it? Don’t answer that question. Obama administration US domestic policy Michael Tomasky guardian.co.uk
Continue reading …Gas prices continue to dominate in the Us and cast a serious pall over the administration. Last Thursday, Obama announced an inter-agency task force to investigate speculation. On television yesterday, freshman Democratic Senator Ralph Blumenthal pressed for empaneling a federal grand jury: Blumenthal, Connecticut’s former attorney general, said on CBS’ “Face the Nation” that federal officials need to play hardball. “I commend and applaud the president for focusing on this issue but I think there really needs to be an investigation involving, for example, subpoenas and compulsory process which I used as attorney general in similar investigations. There needs to be very possibly a grand jury to uncover the potential wrongdoing,” said Blumenthal, who was elected to the Senate last year. “The Justice Department should take the lead, seize this moment and send a message, a very strong deterrent message that this country will not tolerate the kind of illegal speculation and trading and hedge fund activity that may be driving prices up,” he added. To which Republicans have their ready-made answer. Hit F8 and out comes: But House Speaker John Boehner’s (R-Ohio) office on Friday called the Democratic focus on potential market abuses a distraction from the need to expand U.S. oil-and-gas drilling (although this would not affect prices in the short-term). I think that parenthetical is the handiwork of the reporter, that is, Boehner probably didn’t say it. If he did, good for him, but that’s not the m.o. The m.o. is to chant “drill baby drill” even though that might lower gas prices in about four or five years. On the issue of speculation, I have been reading some things, and it seems clear that the unrest in the Middle East has led to more speculation, which does help hike prices. Here’s some info from a Senator Al Franken press release, touting legislation he’s trying to advance: The senators are pushing for tougher regulation because new data shows oil trades by speculators have jumped 35 percent since the latest round of civil unrest began in late January in North Africa and then the Middle East. During that same period, U.S. gas prices have soared by almost 40 percent. And here’s a little more information for you: Speculators can currently buy $100 worth of oil futures with only $6 down, while investors in stocks put down 50%. The Commission has the authority to call for higher margin requirements from exchanges where oil futures and various other commodities are traded. “New margin requirements could take effect as soon as July, but the CFTC must begin the rulemaking process now,” the lawmakers wrote. “The commission” is the Commodity Futures Trading Commission, which oversees this. The House GOP wanted to cut its budget by around $90 million, or basically cut it in half. But under the deal that averted the government shutdown, it actually got a 20% increase, to $203 million. Meanwhile, says Think Progress, citing the Wall Street Journal, Exxon’s profits are expected to rise this year by 50%. Republicans are going to war on gas prices: drill drill drill. The Democrats have a populist response, and the benefit of talking about something (Franken’s idea) that could have impact immediately. Will they seize on it? Don’t answer that question. Obama administration US domestic policy Michael Tomasky guardian.co.uk
Continue reading …Gas prices continue to dominate in the Us and cast a serious pall over the administration. Last Thursday, Obama announced an inter-agency task force to investigate speculation. On television yesterday, freshman Democratic Senator Ralph Blumenthal pressed for empaneling a federal grand jury: Blumenthal, Connecticut’s former attorney general, said on CBS’ “Face the Nation” that federal officials need to play hardball. “I commend and applaud the president for focusing on this issue but I think there really needs to be an investigation involving, for example, subpoenas and compulsory process which I used as attorney general in similar investigations. There needs to be very possibly a grand jury to uncover the potential wrongdoing,” said Blumenthal, who was elected to the Senate last year. “The Justice Department should take the lead, seize this moment and send a message, a very strong deterrent message that this country will not tolerate the kind of illegal speculation and trading and hedge fund activity that may be driving prices up,” he added. To which Republicans have their ready-made answer. Hit F8 and out comes: But House Speaker John Boehner’s (R-Ohio) office on Friday called the Democratic focus on potential market abuses a distraction from the need to expand U.S. oil-and-gas drilling (although this would not affect prices in the short-term). I think that parenthetical is the handiwork of the reporter, that is, Boehner probably didn’t say it. If he did, good for him, but that’s not the m.o. The m.o. is to chant “drill baby drill” even though that might lower gas prices in about four or five years. On the issue of speculation, I have been reading some things, and it seems clear that the unrest in the Middle East has led to more speculation, which does help hike prices. Here’s some info from a Senator Al Franken press release, touting legislation he’s trying to advance: The senators are pushing for tougher regulation because new data shows oil trades by speculators have jumped 35 percent since the latest round of civil unrest began in late January in North Africa and then the Middle East. During that same period, U.S. gas prices have soared by almost 40 percent. And here’s a little more information for you: Speculators can currently buy $100 worth of oil futures with only $6 down, while investors in stocks put down 50%. The Commission has the authority to call for higher margin requirements from exchanges where oil futures and various other commodities are traded. “New margin requirements could take effect as soon as July, but the CFTC must begin the rulemaking process now,” the lawmakers wrote. “The commission” is the Commodity Futures Trading Commission, which oversees this. The House GOP wanted to cut its budget by around $90 million, or basically cut it in half. But under the deal that averted the government shutdown, it actually got a 20% increase, to $203 million. Meanwhile, says Think Progress, citing the Wall Street Journal, Exxon’s profits are expected to rise this year by 50%. Republicans are going to war on gas prices: drill drill drill. The Democrats have a populist response, and the benefit of talking about something (Franken’s idea) that could have impact immediately. Will they seize on it? Don’t answer that question. Obama administration US domestic policy Michael Tomasky guardian.co.uk
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The Obama administration has condemned ‘the brutal violence used by the government of Syria’, describing it as deplorable The White House is preparing to introduce new sanctions against the Syrian regime in response to a military crackdown that saw tanks and armoured cars deployed against protesters on Monday. The Obama administration condemned “the brutal violence used by the government of Syria”, describing it as deplorable, and adding: “The United States is pursuing a range of possible policy options, including targeted sanctions, to respond to the crackdown and make clear that this behaviour is unacceptable.” Human rights groups estimate that about 350 people have died so far in Syria, 100 of them on Friday. Troops mounted a major assault Monday on Deraa, the city where the uprising began a month ago, and Douma, a suburb of Damascus. It was apparently the first time that tanks have been used. Ammar Qurabi, head of the National Organisation for Human Rights in Syria, who is in exile in Egypt, was quoted by Reuters as saying at least 18 people died in Deraa alone. The US, having announced sanctions unilaterally, is putting pressure on the UK and other European countries to impose sanctions against the Syrian regime. The US treasury department and other American agencies are discussing freezing the assets of senior officials accused of human rights abuses and banning them from travelling to the US or doing business there. Such sanctions are mainly symbolic, as the US has long had stringent measures in place against Syria and has little trade with the country. Sanctions by European countries, with whom Syria has extensive trade, would have more impact and several members of the Syrian government have assets in Europe. In another sign of increasing diplomatic pressure, the UN security council is considering a draft statement condemning the violence and calling for restraint. Such a statement, introduced on Monday by four European members of the security council – Britain, France, Germany and Portugal – is a necessary first step towards any eventual imposition of UN sanctions. The draft backs a call by UN secretary-general Ban Ki-moon for an investigation into the killings. A UN diplomat said: “We hope there will be a vote on adopting it within the next 24 to 48 hours.” The western response towards Syria falls between the military intervention in Libya and the hands-off approach to Bahrain. The government in Bahrain is engaged in a violent crackdown against pro-democracy demonstrators, but it is close to Saudi Arabia – America and Britain’s closest Arab ally. The US and its European allies, after a few expressions of disquiet about the suppression of dissent in Bahrain, have been relatively quiet. The initial response to Syria was equally slow, with Barack Obama making his first statement condemning the violence only on Friday. This reflects fear in the US, Europe and Israel that a new Syrian government could turn out to be more difficult to deal with than the current president, Bashar al-Assad, and could pose more of a threat to Israel. Over the last decade, both US and European governments have engaged in fruitless talks with Assad that they hoped would lead to a rapprochement and would woo it away from its alliance with Iran. The UN high commissioner for human rights, Navi Pillay, added her voice to the international calls for restraint and an investigation into the killings. She said Assad’s response so far had been erratic. “Just a few days after the announcement of sweeping and important reforms, we are seeing such disregard for human life by Syrian security forces. The killings must stop immediately,” she said. Syria Bashar Al-Assad Arab and Middle East unrest Middle East Barack Obama US foreign policy United States United Nations Ewen MacAskill guardian.co.uk
Continue reading …The Obama administration has condemned ‘the brutal violence used by the government of Syria’, describing it as deplorable The White House is preparing to introduce new sanctions against the Syrian regime in response to a military crackdown that saw tanks and armoured cars deployed against protesters on Monday. The Obama administration condemned “the brutal violence used by the government of Syria”, describing it as deplorable, and adding: “The United States is pursuing a range of possible policy options, including targeted sanctions, to respond to the crackdown and make clear that this behaviour is unacceptable.” Human rights groups estimate that about 350 people have died so far in Syria, 100 of them on Friday. Troops mounted a major assault Monday on Deraa, the city where the uprising began a month ago, and Douma, a suburb of Damascus. It was apparently the first time that tanks have been used. Ammar Qurabi, head of the National Organisation for Human Rights in Syria, who is in exile in Egypt, was quoted by Reuters as saying at least 18 people died in Deraa alone. The US, having announced sanctions unilaterally, is putting pressure on the UK and other European countries to impose sanctions against the Syrian regime. The US treasury department and other American agencies are discussing freezing the assets of senior officials accused of human rights abuses and banning them from travelling to the US or doing business there. Such sanctions are mainly symbolic, as the US has long had stringent measures in place against Syria and has little trade with the country. Sanctions by European countries, with whom Syria has extensive trade, would have more impact and several members of the Syrian government have assets in Europe. In another sign of increasing diplomatic pressure, the UN security council is considering a draft statement condemning the violence and calling for restraint. Such a statement, introduced on Monday by four European members of the security council – Britain, France, Germany and Portugal – is a necessary first step towards any eventual imposition of UN sanctions. The draft backs a call by UN secretary-general Ban Ki-moon for an investigation into the killings. A UN diplomat said: “We hope there will be a vote on adopting it within the next 24 to 48 hours.” The western response towards Syria falls between the military intervention in Libya and the hands-off approach to Bahrain. The government in Bahrain is engaged in a violent crackdown against pro-democracy demonstrators, but it is close to Saudi Arabia – America and Britain’s closest Arab ally. The US and its European allies, after a few expressions of disquiet about the suppression of dissent in Bahrain, have been relatively quiet. The initial response to Syria was equally slow, with Barack Obama making his first statement condemning the violence only on Friday. This reflects fear in the US, Europe and Israel that a new Syrian government could turn out to be more difficult to deal with than the current president, Bashar al-Assad, and could pose more of a threat to Israel. Over the last decade, both US and European governments have engaged in fruitless talks with Assad that they hoped would lead to a rapprochement and would woo it away from its alliance with Iran. The UN high commissioner for human rights, Navi Pillay, added her voice to the international calls for restraint and an investigation into the killings. She said Assad’s response so far had been erratic. “Just a few days after the announcement of sweeping and important reforms, we are seeing such disregard for human life by Syrian security forces. The killings must stop immediately,” she said. Syria Bashar Al-Assad Arab and Middle East unrest Middle East Barack Obama US foreign policy United States United Nations Ewen MacAskill guardian.co.uk
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The Obama administration has condemned ‘the brutal violence used by the government of Syria’, describing it as deplorable The White House is preparing to introduce new sanctions against the Syrian regime in response to a military crackdown that saw tanks and armoured cars deployed against protesters on Monday. The Obama administration condemned “the brutal violence used by the government of Syria”, describing it as deplorable, and adding: “The United States is pursuing a range of possible policy options, including targeted sanctions, to respond to the crackdown and make clear that this behaviour is unacceptable.” Human rights groups estimate that about 350 people have died so far in Syria, 100 of them on Friday. Troops mounted a major assault Monday on Deraa, the city where the uprising began a month ago, and Douma, a suburb of Damascus. It was apparently the first time that tanks have been used. Ammar Qurabi, head of the National Organisation for Human Rights in Syria, who is in exile in Egypt, was quoted by Reuters as saying at least 18 people died in Deraa alone. The US, having announced sanctions unilaterally, is putting pressure on the UK and other European countries to impose sanctions against the Syrian regime. The US treasury department and other American agencies are discussing freezing the assets of senior officials accused of human rights abuses and banning them from travelling to the US or doing business there. Such sanctions are mainly symbolic, as the US has long had stringent measures in place against Syria and has little trade with the country. Sanctions by European countries, with whom Syria has extensive trade, would have more impact and several members of the Syrian government have assets in Europe. In another sign of increasing diplomatic pressure, the UN security council is considering a draft statement condemning the violence and calling for restraint. Such a statement, introduced on Monday by four European members of the security council – Britain, France, Germany and Portugal – is a necessary first step towards any eventual imposition of UN sanctions. The draft backs a call by UN secretary-general Ban Ki-moon for an investigation into the killings. A UN diplomat said: “We hope there will be a vote on adopting it within the next 24 to 48 hours.” The western response towards Syria falls between the military intervention in Libya and the hands-off approach to Bahrain. The government in Bahrain is engaged in a violent crackdown against pro-democracy demonstrators, but it is close to Saudi Arabia – America and Britain’s closest Arab ally. The US and its European allies, after a few expressions of disquiet about the suppression of dissent in Bahrain, have been relatively quiet. The initial response to Syria was equally slow, with Barack Obama making his first statement condemning the violence only on Friday. This reflects fear in the US, Europe and Israel that a new Syrian government could turn out to be more difficult to deal with than the current president, Bashar al-Assad, and could pose more of a threat to Israel. Over the last decade, both US and European governments have engaged in fruitless talks with Assad that they hoped would lead to a rapprochement and would woo it away from its alliance with Iran. The UN high commissioner for human rights, Navi Pillay, added her voice to the international calls for restraint and an investigation into the killings. She said Assad’s response so far had been erratic. “Just a few days after the announcement of sweeping and important reforms, we are seeing such disregard for human life by Syrian security forces. The killings must stop immediately,” she said. Syria Bashar Al-Assad Arab and Middle East unrest Middle East Barack Obama US foreign policy United States United Nations Ewen MacAskill guardian.co.uk
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British gamblers are placing their bets on just about everything having to do with the royal wedding. (April 25)
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British gamblers are placing their bets on just about everything having to do with the royal wedding. (April 25)
Continue reading …NYT: New DNC Head Wasserman Schultz ‘Youngest, Smartest, Funniest, Toughest’; ‘Legendary…Indefatigability’
April 25, 2011 No Comment
In Florida, New York Times reporter Lizette Alvarez buttered up Rep. Debbie Wasserman Schultz of Florida (aka Superwoman) the new head the Democratic National Committee, in Monday’s “ In a Life Filled With Firsts, One More .” In case there weren’t enough superlatives in that headline, the subhead had another: “Energetic Florida Congresswoman to Be Democrats’ New Leader.” By contrast, in March Alvarez suggested new Florida Republican Gov. Rick Scott was in over his head, a political “novice” with a “go-it-alone style” that “irritated” or “annoyed” even his fellow Republicans. ( Tom Blumer at NewsBusters collated some of the less impressive moments of Wasserman Schultz, who has an almost perfectly liberal voting record according to the ratings kept by the American Conservative Union). Alvarez opened her story on a hectic school morning at the congresswoman’s house, with the tough and unflappable Wasserman Schultz getting her three children out the door. In less than two weeks, Ms. Wasserman Schultz — mother, wife, Girl Scout leader, legislator, fund-raiser and House vote counter — will add another job to her monumentally orchestrated life. She will become the first woman elected to lead the Democratic National Committee, a role that requires grit, exaltation and inspiration. At 44, she will be the youngest committee leader in decades. As the country races toward the 2012 presidential election, it will be her task to rally Democrats to give money and time, swatting away Republican barbs and defending President Obama at every turn. It is a job she is well prepared to handle, having served years on the House’s Democratic campaign committee. Later that morning, in a nearby deli, Ms. Wasserman Schultz, now wearing a businesslike gray suit and pumps, said, “The timing is right for a retail politician.” But the symbolism of her selection is not lost on her. “It’s a big deal, a very big deal,” said Ms. Wasserman Schultz, whose toughness was admired by her colleagues even before she grappled with breast cancer in 2007. “My generation is significantly unrepresented in terms of public policy and decision making. As a woman today, it’s very different living through raising children and balancing work and family. It’s an opportunity to reach out to so many families. And women who work outside the family can say Democrats get it.” Alvarez found room for couple of mildly warning words from Republican colleagues before calling Wasserman Schultz “one of the ‘-est’ girls: youngest, smartest, funniest, toughest.” She also has “legendary…indefatigability,” which certainly sounds impressive. With her trademark curls, Ms. Wasserman Schultz has long been one of the ‘-est’ girls: youngest, smartest, funniest, toughest. Her Democratic colleagues extol her fund-raising prowess, her ease on television and her indefatigability, which is legendary among her colleagues. There is seemingly no end to Wasserman Schultz’s superlatives: Ms. Wasserman Schultz’s take-charge instinct also kicked in after her breast cancer diagnosis in 2007. She told only her closest friends. Her children knew only that their mother was going to have surgery. Once she conquered the cancer, she told them the truth. She scheduled her operations for a double mastectomy during Congressional breaks. Alvarez wasn’t nearly as nice to a Florida Republican, Gov. Rick Scott. Her March 8 profile was hostile to the “conservative Republican billionaire” politician, a political “novice” with a “go-it-alone style” that “irritated” or “annoyed” even his fellow Republicans.
Continue reading …On 9/11, the bulk of al-Qaeda’s leadership was gathered in a single place: Karachi, Pakistan. One key figure was in a hospital following a tonsillectomy; another was preparing for a biological weapons program; and Khalid Sheikh Mohammed was with other leaders in a safe house, watching the attacks on TV,…
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