Greg Mitchell's Blog, page 145

The Needy and the Damage Done

Dean Baker, who I like to call The People's Economist, draws our attention to a NYT story on how three Dallas Federal Reserve economists are trying to measure the damage wrought by the cascading financial catastrophes set off by the fall of Lehman Brothers in 2008.  Bare minimum: $20,000 for every man, woman and child in the United States. But adding in "broader impacts on workers’ well-being" could raise the price tag to as much as $120,000 per American. Makes oversight and regulation to limit bank shenanigans seem like a worthy policy goal, right?

Good luck with that. The financial industry has mounted quite a successful legal campaign to slow down implementation of new financial rules meant to ensure banks bear the costs of their risky business, rather than us. As Baker points out:

Obviously these numbers are very speculative but the basic story is very simple. If you want to have a big political battle in Washington, start yelling about people freeloading on food stamps, but if you actually care about where the real money is, look at the massive wreckage being done by the Wall Street boys and incompetent policy makers in Washington.

--B.B.

Another Day, Another School Shooting?

Just now, reported, at Oklahoma U. in Norman, shots fired, the usual lockdown, warning from university's official Twitter account, no details, centered on Gould Hall.   One day after fatal Purdue shooting.  More here.  And @UOSooners official. Common scene now in photo.  UPDATE:  School twitter feed now says,  "Normal campus operations have resumed except for Gould Hall where additional checking is continuing."  Likely no shots fired.  Maybe a backfire or something.

Full Circle in New Orleans

It's rare you can read thrillingly good news that includes "bankers," "developers," and "Hurricane Katrina" in the same sentence, but Circle Food Store's reopening this month has it all, plus four bell peppers for a dollar. This beloved, one-stop shop in New Orleans' Seventh Ward (the first African-American-owned grocery store in the city) was for years the place residents could buy everything from fresh produce to school uniforms--and even pay utility bills and get a doctor's checkup, too. The beloved store, shuttered after Katrina, was named for the spot where streetcars turned around.
It's taken eight long years to get financing and rebuild after Katrina, but Circle Food Store owner Dwayne Boudreaux has pulled it off, with a unique combination of private and public investment. An added bonus: Hope Enterprise Corp., the nonprofit community development corporation involved in Circle's renaissance, plans to open a branch there to offer responsible banking and loan services. As nola.com reports, since traditional big banks have steered clear of the neighborhood, predatory and payday lenders have swooped in. Here's hoping Circle shoppers will soon have a chance to pick up some economic justice with those Circle Foods-branded hot sauces and coffee. h/t NextCity.org--B.B.

That Movie Theater Shooting

NYT follows up on last week's incident in Florida when man (Iraq vet) was shot and killed by another man (ex-cop) in a movie theater because he was texting, before the film, in checking on his daughter with a babysitter.  Here comes another Stand Your Ground case.   Although this time both males are white.

His lawyer, Richard Escobar, said Mr. Reeves,  who is charged with second-degree murder, acted in self-defense. He suggested that Mr. Reeves was hit in the face with something other than popcorn, and had every right to defend himself with deadly force...

Mr. Escobar has said that because of his age, Florida law supports Mr. Reeves’ self-defense claim. In Florida, a misdemeanor assault against anyone 65 or older is a felony. And in Florida, a person who has a reasonable fear of great bodily injury or death is not obligated to retreat.

--G.M.

Snowden Hits Snow Job

Whatever you think of Edward Snowden, you have to admit that he hit the nailed on the head when he criticized media coverage of the latest charges, from top leaders in Congress, that he "may well" have been working for the Russians, or got help from them, when he nabbed all those NSA docs.  All too true:

On Sunday, the “Meet the Press” host, David Gregory, also asked Mr. Rogers’s Senate counterpart, Senator Dianne Feinstein, Democrat of California, whether she agreed with his suspicions that Mr. Snowden had been helped by the Russians. She replied: “He may well have.”

Mr. Snowden criticized news organizations for treating such remarks as newsworthy.“It’s not the smears that mystify me,” Mr. Snowden told The New Yorker, “it’s that outlets report statements that the speakers themselves admit are sheer speculation.”

--G.M.

Neil and the Crowd

Kind of groovy--Neil Young fans have put together a "crowd-sourced" version of one of his full concerts at Carnegie Hall this month, drawing on videos shot by many to make a one hour and fifty-two minute show.  Along the way, in a favorite touch, he plays God's guitar.  That is, Hank Williams'.  And his latest tribute to my old pal Phil Ochs starts at about 32-minute mark after a stunning song at the piano.  Note:  He mentions his first concert at Carnegie in 1970.  Ahem, I was there, just before reviving Crawdaddy.  Plus: a full Neil show with Crazy Horse. Now, what about those rumors that he's finished an album with Jack White? -- G.M.

Riot in Brooklyn

In a bit of a surprise, Amnesty International announced today that two of the three members of Pussy Riot (now freed) will be part of the group's big Feb. 5 concert at the Barclay's Center in Brooklyn. The concert will include performances by Lauryn Hill, Imagine Dragons, the Flaming Lips and others.  “We, more than anyone, understand how important Amnesty’s work is in connecting activists to prisoners,”  the pair said in the announcement. “A month ago we were freed from Russian prison camps.  We will never forget what it’s like to be in prison after a political conviction. We have vowed to continue helping those who remain behind bars and we hope to see you all at the Amnesty International concert on Feb. 5 in Brooklyn!”  -- G.M.

Bowling Weather

Yes, bad snow storm in NY area today and frigid, and blowing.  So WFAN has a top Super Bowl official on the air right now and he says, a bit surprisingly (if wise) to me, that if big storm in two weeks they will consider moving it back, on day of game, or even move it back by a full day--or one of even TWO days ahead, to a Friday night....

Dylan Turns 30, Again

Couple decades ago I was among those who watched via pay-per-view that 30th Anniversary in Show Biz tribute for Bob Dylan at Madison Square Garden with all-star cast, plus Bob.  It's come out on CD year ago but now will get full DVD release, with added tracks (thank you, Sinead O'Connor).  One of the highlights, from Mr. Geo Harrison. -- G.M.

Another College Shooting

UPDATE:  One confirmed dead, shooter in custody (and now IDed as Cody Cousins, 23)--and supposedly he was just aiming to kill target.   Victim also IDed.  They were both TAs in the engineering deptartment.

Earlier: 

Vague details so far on incident in building at Purdue U in Indiana.  WLFI-TV tweets it has confirmed at least "one shot."  Varying reports of one in custody or two.  (See photo here allegedly of one suspect on the ground with police gun on him. Close-up view here.   And here, alleged shooter earlier with long gun outside building. And another.)  Lockdown.  No reports on injuries.  More to come.