Archive for the 'Books' Category
It took the Earth millions of years to immobilize a large portion of the planet's carbon in fossilized form deep underground. When we extract and burn it we mobilize the carbon and there is no place on Earth where, over human timescales, we can safely sequester it again. We know we cannot leave it in the atmosphere, Carbon stored in vegetation and soils is always on the brink of release through fire or human disturbance. The oceans are in constant flux, with even the deepest layers naturally coming to the surface sooner or later. Heavily promoted plans for carbon capture and storage, in which carbon dioxide extracted from the smoke-stacks of coal fired power plants is pumped in geological repositories underground, looks increasingly risky and expensive. I hope we have learned enough by now to be wary of any technology that claims to have found a way to immobilize for centuries huge quantities of carbon somewhere in the Earth system where it does not belong. Even if such a place could be found there is something deeply perverse in the demand that we construct an immense industrial infrastructure in order to deal with the carbon emissions from another immense infrastructure, when we could stop burning fossil fuels.When you are already in a hole, stop digging. That would be too sensible. Pinatubo The Scream Hamilton discusses a group of climate engineering suggestions intended to regulate sunlight including making clouds whiter or generating more or fewer clouds in various parts of the world. The main focus of research, however, seems to have been on studying the effects of the historic volcanic eruptions of Laki in 1783 (effects studied by Ben Franklin), 1816 (the largest in recent history and resulting in famines), Krakatoa in 1883 and Pinatubo in 1991. All resulted in significant cooling of the global climate. Hamilton, tongue in cheek, notes that Krakatoa inspired "Frankenstein", Lord Bryon's poem Darkness, and Edward Munch's painting "The Scream". The climate engineering idea is to somehow put sulphate aerosol particles into the stratosphere which is between 10 and 50 kilometers in altitiude. The engineering problem is getting the quantity of particulars required up there. One estimate has thousands of special planes making a million flights per year to produce the equivalent effect of the 1991 Pinatubo eruption. The big problem for researchers is that it is difficult to learn much from small scale experimentation and full scale deployment will undoubtedly have unforeseen consequences. Scientists agree that it would cool the Earth. Some believe more limited deployment over the arctic could reverse the melting of the ice and cool the Earth sufficiently. There is major concern that the sulphates would further damage the ozone layer, delaying its recovery for decades and increasing the ozone holes. The effects on patterns of rainfall and monsoons is unknown but likely large. Then there is the problem that once started it would be impossible to stop the program regardless of the political or economic climate. Stopping it in the future would lead to instant warming without giving life on Earth any time at all to adapt. The catastrophe would be immediate and worse than if the program had not been started in the first place. This plan would affect everyone on Earth but the decision to go ahead could be made by a single nation or even a single very wealthy individual. Billions of people would be put at risk without having any say in the program. China and India live within a constant brown haze from industrial emissions pollution that cause more than a million deaths a year. The US and Europe have put emissions controls in place to greatly reduce the pollution and China and India want to do the same. The problem is that reducing the haze results in increased warming so you trade improved health for accelerated climate change. There is little doubt that both countries will implement their emissions controls programs. Caldeira liming the oceans Keith let's buy an ice age Research in geoengineering is controlled by a small, incestuous group where two scientists, Ken Caldeira and David Keith, are so dominant they have been labeled the "geoclique". Bill Gates is the biggest backer, but funds are also provided by N Murray Edwards, a Canadian oil billionaire with an enormous stake in the oil sands. Hamilton likens this to cancer research being funded by big tobacco. Keith plans to "test" sulphate aerosol spraying in New Mexico. Caldeira is conducting small scale tests of liming the oceans. Hamilton is worried that the backers, which include Richard Branson, are engaged in magical thinking, looking for the sexy "killer application". They view existing technologies for wind and solar energy, insulation, and other energy reduction methods as boring and old fashioned, definitely not sexy. Gates Branson Magical Thinkers The geoclique has its origins, not surprisingly, at Lawrence Livermore Labs, home of nuclear Armageddon. The Dr. Strangeloves of geoengineering suggest we simply move the Earth a little further from the Sun perhaps by detonating a huge nuclear blast to steer a large asteroid close to the Earth. Hope they don't miscalculate! Arctic Oil BP, Shell, and Exxon are all investing in geoengineering. Hamilton notes that the melting of arctic ice has made previously protected reserves of oil that were under the ice now accessible. The arctic oil gold rush is on so don't expect an arctic sulphate aerosol shield anytime soon. Big oil seem to favor experiments to get the ocean to absorb more carbon dioxide from the atmosphere by stimulating the growth of carbon eating lifeforms by fertilizing the oceans with iron or liming. The oceans are very complicated and the effects of major deployment are unknown. Major deployment would require massive industrial infrastructures and would divert chemicals needed to grow food. Phosphorous, in particular, is a scarce resource that should be preserved for food growing. Simply outlawing the killing of whales could have a big effect on the ability of the oceans to absorb carbon but the chances of passing such laws are negligible. Big oil is also supporting very small scale experiments in algae and other plants as "carbon neutral" sources of energy. This is safe for big oil since land, fertilizer, and water are not available for growing the plants on a meaningful large scale. Hamilton notes the bizarre and illogical willingness of climate change deniers to embrace geoengineering technofixes to a problem they deny even exits:
..if planning to take control of the Earth's climate system forever - using highly speculative technologies and risks - is needed to appease those whose prejudices prevent them from accepting scientific fact, then that is what we must do...We know we are in trouble when liberals who say they accept the science begin advocating geoengineering as a means of appeasing conservatives who reject the science.This new coalition, in the name of doing something politically, is likely to embrace grand system changing interventions like stratospheric sulphate aerosols rather than more modest efforts like reforestation, biochar, or painting roofs white, and to favor US unilateral implementation of those grand schemes. More humble scientist Ron Prinn asks: "How can you engineer a system you don't understand?" Overconfident geoengineers say we just need to decide where to set the thermostat. The Earth's decision makers lost an entire decade waiting for the miracle of Carbon Capture and Sequestration (CCS) in which carbon was to be extracted from the smoke chimneys of coal fired plants and permanently stored somewhere. The oxymoron "clean coal" CCS was never technically or economically feasible. We are now well into the second decade of waiting for the magic solution that won't require changes to the existing social and political power structures or our life styles. Paul Crutzen This time, the magic solution seems to be stratospheric sulfate aerosols made public for the first time in a 2006 "intervention" by Dutch scientist Paul Crutzen with his essay "Albedo (Reflection) enhancement by stratospheric sulfur injections: A contribution to resolve a policy dilemma?" Crutzen strongly believes that we must also find ways to reduce carbon emissions as well as ways to remove carbon from the atmosphere, but not all sulfate aerosol advocates share this conviction. Many seriously believe we can carry on as usual to burn fossil fuels, compensating for the resulting climate changes with sulfate aerosols or ocean cloud whitening. This is just what those that control big oil and coal want to hear. Little attention is given to "side effects" like damage to the ozone layer and changes to weather patterns affecting monsoons and inducing droughts. Lonnie Thompson stores a million year history of Earth's Climate gathered from the highest places on the planet A previous post Thin Ice discusses the three cycles of Earth orbit and wobble which, in the past, have determined patterns of Earth temperatures with long ice ages followed by short warm ages. The last 10,000 years, during which time agriculture and human civilizations have risen, has been named the "Holocene". In 2000, Crutzen and another scientist declared a new age, the "Anthropocene", the age induced by human activity.
With the Anhropocene, humans have become a geological force, so that the two kinds of history have merged...Our future has become entangled with that of the Earth's geological evolution. Anthropogenic climate change affects not just the atmosphere but the chemical composition of the oceans (acidification), the biosphere (species extinctions and shifting habitats), the cryosphere (melting ice masses), and the lithosphere itself.
Yet how can we think our way out of the problem when the problem is the way we think? There is something increasingly desperate about placing more faith in technological cleverness when it is the unrelenting desire to command the natural world that has brought us to this point.The magnitude of this climate change is emphasized when we realize the already released carbon dioxide from burning fossil fuels will suppress the entire next ice age. Brace yourselves for the geoengineering era. Geoengineers are "Earthmasters" like Wall Street denizens are "Masters of the Universe". Maybe they can hold a competition to see who can do the most damage.
Lawrence Lessig and Bill explore how we can protect our privacy when Big Government and Big Business morph into Big Brother.
Chickenhawk (also chicken hawk and chicken-hawk) is a political term used in the United States to describe a person who strongly supports war or other military action (i.e., a War Hawk), yet who actively avoided military service when of age. The term indicates that the person in question is hypocritical for personally dodging a draft or otherwise shirking their duty to their country during a time of armed conflict while advocating that others do so. Generally, the implication is that chickenhawks lack the moral character to ask others to support, fight and perhaps die in an armed conflict. Those who avoid military service and continue to oppose armed aggression are not chickenhawks.Chickenhawks 1980 and 2000 These two books explore how Dick Cheney and Donald Rumsfeld , hereinafter referred to as CR, transformed the elite special forces (Navy Seals, Delta Forces, and Army Rangers) into the ultra secretive JSOC command, reporting directly to the President with a worldwide license to kill. CR largely insulated W from their decisions under the guise of denyability. Prior to CR under W, these special forces were primarily famous for two disastrous actions, the aborted 1980 attempt to rescue the Iran hostages under Carter and the even more disastrous 1993 Black Hawk Down incident in Mogadishu Somalia under Clinton. The only group with a more disastrous history than the special forces was the CIA who Congress outlawed from initiating assassinations after the revelations of the Frank Church hearings in 1975. For more on CIA incompetence see Secrets in an Open Society. A more minor enabling player in these books is the FBI with their proclivities to entrap innocent victims in their notorious sting operations. Two US citizen victims of drone assassinations were driven by previous FBI sting operations, Imam Anwar Awlaki was killed in September 2011 and Buffalo citizen Ahmed Hijazi (Kamal Derwish) was killed in November 2002 along with the alleged mastermind of the USS Cole attack, Abu Ali al Harithi. Awlaki was arrested twice in San Diego when FBI prostitute undercover agents approached him unsolicited. Hijazi was accused of being one of the Buffalo NY "Lackawanna Six" after his assassination. The FBI stings were instrumental in encouraging both men to leave their US homes for Yemen where they were assassinated. For more on FBI methods see Paranoid Ideologues. The central theme of both books is how American policy in Afghanistan, Iraq, Yemen, Somalia, Pakistan, and elsewhere has actually led to an increase in American insecurity and how policy makers refused to see how their policies were counterproductive. In each case, America either invaded directly to destroy an existing regime, or had proxies (Christian Ethiopians invading Islamic Somalia) destroy the existing regime or undermined the regimes by totally disregarding the country's sovereignty (Yemen and Pakistan). America always chose the wrong people to form new regimes and these US backed regimes always led to an increased presence of enemies of the US in the countries. For example, al Shabab, a Taliban like group in Somalia, has gone from a nonentity to a major force controlling more and more of Somalia. Unless American soldiers stay in Afghanistan, the Taliban will likely retake control of the country. Our good ally Pakistan likely welcomes this outcome. This universally disastrous foreign policy has cost hundreds of thousands of innocent lives and trillions of US taxpayer dollars. Enemies of the US have multiplied many fold. Yet none of these enemies pose an existential threat to the US, unlike the Soviet Union during the cold war. The disastrous policy of "war on terror" and "the world is a battlefield" is designed to continue forever. Stanley McChrystal with Obama CR authorized a secret JSOC facility camp in Iraq, NAMA under McChrystal, where JSOC personnel both captured and "interrogated" prisoners. NAMA was far worse than Abu Ghraib yet Americans were never told about it and its abuses. Tortured prisoners will say whatever the torturers want to hear, in this case WMD and al Queda. That the confessions were untrue didn't matter to true ideologues CR. When a major insurgency erupted, CR kept insisting it was just a few "dead enders" from the Hussein Baathist era. De-Baathification had created hundreds of thousands of unemployed, trained soldiers, with unlimited weapons. There were plenty of groups willing to exploit these soldiers for their own purposes. A Jordanian terrorist claiming to be associated with al Queda, and working in Iraq, Zarqawi, started chopping off heads, giving CR "evidence" that Hussein had harbored terrorists. The evidence was that Zarqawi had traveled to Iraq for medical treatment once prior to the American invasion. Hussein probably never heard of Zarqawi. Obama and Brennen Terror Tuesdays Obama, upon taking office and to everyone's surprise, kept W's security team of Petraeus, McChrystal, McRaven, Gates, and Brennen. Early in Obama's administration, Somali pirates mistakenly boarded an American flagship. They quickly realized their mistake and attempted to escape, taking the captain hostage. A battleship was ordered to the scene. Obama was informed that the planet's best snipers (the JSOC ninjas) were only 45 minutes away from the battleship. Obama ordered them to the scene and when they reported they had clear shots at the pirates, Obama gave the order to kill. Three shots, three dead Somali pirates. Obama loved it and invited the ninjas involved (members of Navy Seal Team 6) to the White House. Thus was born the era of Obama as assassin in Chief. Who snatched Leon Panetta's Body? Obama had appointed trusted ally Leon Panetta to head the CIA and under Obama the JSOC and CIA were to form a closer working relationship in their "targeted killing" program. This program has been expanded from the W era and has been largely successful in assassinating people on the kill lists although with countless innocent victims. Obama and Panetta announced the closing of the black sites (secret prisons), the end of torture interrogations, and the end of renditions, and then secretly continued all three. The books recount discussions about the best way to kill a target, with an M16 or a drone strike. The drone strike is seen as more antiseptic but more difficult to confirm the kill. Occasionally, CIA operatives have been sent to strike sites to collect DNA samples and other evidence, but the strikes make such a mess that identification is difficult. Maybe the Ninjas should bring back the head after a kill. The reader is reminded of scenes from the movie "GoodFellas" and discussions among its psychotic characters. Kill or capture? If you capture you need a prison and you are expected to interrogate. Do you hold indefinitely or are you forced to try the "detainee"? Better to just kill the target and be done with it. Obama condemns US citizen to death without due process > Anwar's 16 year old son Abdulrahman also killed by US drone In the case of Anwar Awlaki, the intelligence community seems to have concluded that his speeches and blogs were protected free speech and they never got evidence, despite Obama's false statements, that Awlaki was associated with al Queda or ever assisted any terrorist. This conclusion also included analysis of emails between Awlaki and Nidal Hasan the American soldier that killed 13 at Fort Hood Texas. Awlaki posted a blog after the killings supporting Hasan's actions which may have been the breaking point for Obama. Awlaki was killed simply to silence him. Nothing more. two weeks later a US drone strike "accidentally" killed Awlaki's son Abdulrahman. Obama press secretary Robert Gibbs comment: "Well I would suggest that he should have a more responsible father." Unbelievable. Petraeus sells Obama on Afghan "surge" When McChrystal was put in charge of the Afghanistan "surge" other military commanders expected the worst and got it. McChrystal reproduced his Iraq operation on steroids. JSOC operators multiplied, black ops prisons like NAMA were created, and targeted killings skyrocketed. Like Iraq, there were virtually no al Queda operating inside Afghanistan. The targets this time were mid level Taliban but the ninjas couldn't even tell the tribes apart, so the killing of innocents and allies multiplied. Hatred of Americans and sympathy if not support for the Taliban increased. One mistaken raid killed Daoud, an American trained regional head of intelligence, and members of his family. Realizing their mistake, the JSOC team refused to call medical assistance and starting digging their bullets out of the victims body while some were still alive. They died. The team was only able to recover only 17 of the 21 rounds fired in the raid. A dogged British journalist, Jerome Starkey, exposed the coverup and witnessed a scene where a fatigue wearing soldier with the name tag McRaven enacts a ritualistic sheep sacrifice in front of the family by way of apology. Starkey didn't even know who McRaven was at the time. Another example of foreign policy gone terribly wrong. Raymond Davis contractor with license to kill Secret Wars is organized chronologically, jumping from Iraq to Afghanistan to Yemen to Somalia with Awlaki's story threaded throughout. Toward the end, we finally get to Pakistan where things get really strange. Remember that the CIA and Pakistan's ISI worked closely through the 1980's to support the Afghan Mujahedin (see Ghost Wars) in their fight against the Soviet occupation and that Pakistan is a nuclear power. In January 2011 American Raymond Davis killed two Pakistanis at a busy intersection in Lahore. Davis' rented Honda Civic was carrying enough arsenal to hold off a small army in addition to GPS, satellite communications, night vision equipment, multiple ids and cell phones, ATM cards, makeup and disguises and other trade craft. He would have made James Bond envious. The killed Pakistanis were ISI operatives who were following Davis and he shot them both through the windshield as only a trained assassin would have been able to do. He was in possession of sensitive photos of secret Pakistani military facilities including nuclear storage facilities. His cell phones showed he had made calls to both Tehrik-e-Taliban and Lahkar-e-Jhangvi Pakistani terror groups. Who was Davis working for? Was it the CIA, JSOC or someone we haven't heard of? People at his obvious level of experience have level after level of cover stor. He was released after admission that he worked for the CIA but the reality is probably deeper. What was he doing at the secret military sites? It seems that the US government has secret plans to secure (i.e. steal) Pakistan's nuclear arsenal in the event of a coup or other instability inside Pakistan. How wild is that? Why was he calling Pakistani terror groups? Davis called for backup, calmly photographed the two Pakistani's he killed, and fled the scene in his Honda. A backup Land Cruiser with false license plates rushed to assist Davis but ran over a motorcycle killing its driver. The Land Cruiser fled but Davis' Honda was stopped by police two miles from the murders. ISI sent special forces to guard his prison cell and prevent a JSOC style rescue. Had Davis been put with the general prison population he would probably have had his throat slit. The backup team returned to the CIA-JSOC safe house, destroyed all their documents and equipment, and fled to the US Consulate where they were evacuated from the country before Pakistani officials could question them. They have not been identified. The CIA had followed a courier to Osama bin Laden's safe house five months prior to the Davis incident and were awaiting confirmation that Osama was there and assassination plans were readied when the Davis incident happened. The US needed to get Davis out of Pakistan before they could initiate the assassination of bin Laden. Thus the negotiations with Pakistan and the ISI took on an urgency it would not have otherwise had. Then the wife of one of the ISI murder victims committed suicide leaving a video statement blaming the US. Davis's handlers apparently hid his true job from the white house and state department leading both to make embarrassing and false claims about Davis's job. Afraid that Davis might start talking and needing to proceed with bin Laden's assassination, top US military officials including Admiral Mullen and Petraeus met in Oman with their Pakistani counterparts in the military and ISI to hash out a solution. A very unusual Sharia court proceeding presented the families of the victims with $2.3 million and Davis was whisked out of the country on a CIA rendition plane. William McRaven Mr. Cool Six weeks later Osama bin Laden was assassinated in Abbottabad Pakistan. For bin Laden's murder, the JSOC ninjas under CIA direction shot and killed bin Laden, brought the entire body to a ship, and buried it at sea. It was not deemed necessary to share confirmation with the American people. Before the mission the team discussed not shooting bin Laden in the head since the reason for sending a team on a dangerous mission 150 miles inside sovereign Pakistan to a house a mile away from a military academy was to confirm the kill. Matt Bissonnette Seal Team 6 Member The first team member to encounter a tall man in the house shot him three times in the head. The next team member shot the body multiple times in the chest. Matt Bissonnette's job was to collect DNA samples (they had DNA from bin Laden's sister) and when he cleaned off the face he was surprised how young the man was and that his beard was completely black. Bissonnette had surely seen every photo and video of bin Laden in existence yet he didn't recognize the man in person. Bissonnette remembers thinking at the time that the American people don't need to see this (the messed up face and head). Even if this is the reason photos were not released there is no security reason why the DNA test results should not have released to the public. Guns were found in the house but none were loaded. Anyone there could have been captured without a fight but the mission was assassination. Four men and one woman were killed in the raid. Others, including children, were injured. Immediately after the raid Brennan said that the team had been in a firefight (false) and that bin Laden had used women as a shield (false). The Obama administration said just trust us then lied about so many aspects of the mission that Bissonnette felt compelled to write his own account No Easy Day. He would not have been privy to the DNA test results. We should trust them that the DNA test results were a match? Michael Furlong Michele Ballarin The Way of the Knife includes a couple of characters (for comic relief?). Michael Furlong was an overweight long time government and military person who spoke in fast government-military speak that seemed to bedazzle whoever he met. He ran an operation where spyware was hidden in a cell phone game with information gathered and stored in an illegal database in the Czech Republic. Furlong showed up in Prague during sensitive negotiations over deploying a US missile defense system in the Czech Republic and US government officials had him thrown out the the country. Michele Ballarin was a wealthy West Virginia Republican socialite who raised Lippizaner horses. She somehow inserted herself into Somali pirate ransom negotiations and pirates on one seized ship raised a sign asking specifically for her. She proposed setting up a food program for refugees in Somalia where she would collect intelligence about everyone who came to get aid that she could feed to US intelligence. The program was not approved. Blackwater's Eric Prince appears in both books with activities no less bizarre but certainly not comic. Prince is drawn to unsavory characters around the world like a magnet. He outfitted his own small ship with an incredible arsenal, helicopter, and small speed boats, and offered to escort ships through the Somali pirate area of operations for $200,000 a trip. This was his sanest venture. He lives in Abu Dhabi to be close to the action and avoid taxes.
Don't you see. Too big to fail isn't a problem with the system. It is the system.Rubin's Citibank would have tanked were it not for the government's bailout. The banks today are bigger than ever. Is there hope? Probably not until the whole country crumbles. The revolution will not be televised (or streamed).
In fact, prior to the 2008 financial crisis, the FDIC had never invoked the systemic risk exception. But here we had the NY Fed (Geithner) going out on its own and deciding to bail out a relatively small investment bank, a perimeter player at best...I was concerned about the precedent the NY Fed was setting.Senator Elect Elizabeth Warren As Suskind relates, both Geithner and Summers went to great lengths to control access to Obama and the administration had an all boys club atmosphere. Christina Romer, nominal head of the Counsel of Economic Advisers, left the administration early and gets one brief mention in Bair's account. Bair did have a close working relationship with Elizabeth Warren, newly elected Senator from Massachusetts in Ted Kennedy's old seat, and Bair still has high hopes for the Consumer Financial Protection Bureau. She Bear Bair is a tough, no nonsense, plain speaking advocate of the public interest. Her fierce and protective support of the FDIC against all critics led her staff to call her "She Bear". When she arrived at the FDIC in 2006, moral was low and the agency hadn't closed a bank in three years. The black clouds were on the horizon and the FDIC through its own and other regulators examinations had probably the clearest picture of the looming catastrophe. She launched a major offensive to educate the public and woo the media to the role of the FDIC, the mechanisms of the bank resolution process, and reassure the public that insured bank accounts were perfectly safe. Tim and Sheila Adversaries Almost immediately the FDIC was overrun with bank failures; Wachovia, Countrywide, Indymac, Washington Mutual and others. She ran into her first major conflict with Geithner who wanted his client Citigroup, despite their dismal financial condition to acquire Wachovia to add their FDIC insured deposits to Citigroups small deposits. Geithner was furious when Bair continued to press Wells Fargo to purchase Wachovia, which they did without any government assistance or guarantees. Geithner doesn't fare well in Bair's account in this book. Rubin's Acolytes Bair does a good job explaining the complex structure of financial regulation in this country. The Fed has certain regulatory functions; the FDIC domain covers any institution with insured deposits; Treasury houses two regulatory agencies, the OCC for mega banks; and the OTS for the thrifts including WAMU, Countrywide, and Golden West. While the Fed and FDIC are more independent, the Treasury is highly politicized and has been under the sway of the financial industry for some time. Citigroup's Bob Rubin (Clinton's first Treasury Secretary) mentored both Larry Summers and Tim Geithner and it was under Clinton that Glass-Steagall was repealed and Derivatives declared free from all regulation. And Hank Paulson was former CEO at Goldman-Sachs. The SEC and CFTC are separate and are dependent on annual budget allocations. When Senator Dodge advocated creating a single unified regulatory agency, Bair talked him out of it because she feared a single agency would more easily fall under the control of the financial industry and become a super OCC. Besides her wars with the Citigroup dominated Geithner, Bair had continuing problems with the OCC, with John Dugan and John Walsh, comptrollers of the currency, and OTS's John Reich, who opposed Chase's purchase of WAMU, Reich's last bank. The OTS is now abolished. None of these were advocating for main street and the public interest. Reich opposed Wamu sale Bair strongly advocated using the government through the resolution process to clean up the toxic mortgage backed securities. The FDIC successfully demonstrated simplified methods to modify mortgages en-mass during the cleanup of the thrifts. Bair was a consistent advocate for loan modification as a way to keep people in their homes and minimize the overall losses to the industry and government. She called TARP, which Paulson sold as a fund to buy toxic assets, then used it to bail out the banks and wall street with capital infusions, a case of bait and switch. She explained some of the reasons for the failure of loan modification programs. Mortgages were lumped into securities which were sold with banks providing loan servicing for low flat fees. This meant the banks were understaffed, under trained, and unsupervised. Breaking the securities into tranches meant that holders of the "safest" tranches would not be hurt financially until perhaps 20% of the mortgages defaulted so were incentivized to prefer foreclosure to restructuring loans. When robo signing was uncovered where single bank workers were fraudulently claiming to have examined the loans being foreclosed the issue moved to the front burner but no effective action resulted. Banks still had separate groups working simultaneously on foreclosure and modification of the same mortgage with customers being approved for modification at the same time they are being evicted. To this date, loan modifications are woefully inadequate and the bulk of toxic assets are still looming. During the debate on Dodge-Frank, there was considerable discussion of FDIC style regulatory resolution verses bankruptcy. Bair uses the infamous case of the Lehman Brothers bankruptcy to prove her case that regulatory resolution is far better. Legal and other fees topped $1.5 billion and to date, creditors have recovered 21 cents on the dollar. The Lehman brand is dead and all employees lost their jobs. An FDIC style resolution results in an instant solution, preserving the brand and jobs. Her staff estimated that an FDIC resolution would have recovered 97 cents on the dollar at Lehman. Bair is generally positive on Dodge-Frank but worries that the industry will continue to attack and modify the measures. Much of the effectiveness of Dodge-Frank will depend on the regulatory implementation and the jury is still out on much of the new complex legislation. Bair complains that Sorkin in his book Too Big To Fail and in his columns failed to contact the FDIC to get their perspective and thus misrepresented FDIC positions and actions. Bair spends considerable time on the Basel II accords which greatly reduced capital requirements for banks allowing the European banks to load up on sovereign debt from Greece, Italy, Spain, and Portugal. Much of the current European financial crisis is attributable directly to Basel II. Bair with a little help from the Fed was able to prevent the US from adopting Basel II. Bair then pushed Basel III to greatly increase capital requirements and to require mega banks to have even higher (9.5%) capital reserves. Geithner Grilled after Libor Scandal Breaks Bair notes that the Barclay misconduct in the Libor interest rate fixing scandal from mid 2005 to early 2009 took place at Barclay's NY trading desk which was subject to Geithner's NY Fed. The investigation was conducted jointly by the CFTC, UK authorities and the Justice Department. The investigation did not involve the NY Fed. During his appointment hearings for Treasury, Geithner proudly stated "I have never been a regulator, for better or worse." For once he seems to have been telling the truth. Unfortunately for us, regulating was his Fed job. Bair is very disappointed in Obama and hopes he will appoint better people in his next administration. The FDIC currently has no head. Would it be too much to hope that Obama might appoint audacious Bair to Treasury?
1) Universality and Equality All humans are born free and equal in dignity and rights, which must be respected, protected, and fulfilled in the online environment. 2) Rights and Social Justice The Internet is a space for the promotion, protection and fulfilment of human rights and the advancement of social justice. Everyone has the duty to respect the human rights of all others in the online environment. 3) Accessibility Everyone has an equal right to access and use a secure and open Internet. 4) Expression and Association Everyone has the right to seek, receive, and impart information freely on the Internet without censorship or other interference. Everyone also has the right to associate freely through and on the Internet, for social, political, cultural or other purposes. 5) Privacy and Data Protection Everyone has the right to privacy online. This includes freedom from surveillance, the right to use encryption, and the right to online anonymity. Everyone also has the right to data protection, including control over personal data collection, retention, processing, disposal and disclosure. 6) Life, Liberty and Security The rights to life, liberty, and security must be respected, protected and fulfilled online. These rights must not be infringed upon, or used to infringe other rights, in the online environment. 7) Diversity Cultural and linguistic diversity on the Internet must be promoted, and technical and policy innovation should be encouraged to facilitate plurality of expression. 8 ) Network Equality Everyone shall have universal and open access to the Internet’s content, free from discriminatory prioritisation, filtering or traffic control on commercial, political or other grounds. 9) Standards and Regulation The Internet’s architecture, communication systems, and document and data formats shall be based on open standards that ensure complete interoperability, inclusion and equal opportunity for all. 10) Governance Human rights and social justice must form the legal and normative foundations upon which the Internet operates and is governed. This shall happen in a transparent and multilateral manner, based on principles of openness, inclusive participation and accountability.MacKinnon includes a chapter on the "copy wars", the attempts to shut down Internet sites accused of Intellectual Property copyright violations without due process. Youtube, Flickr routinely remove content at the simple request of supposed copyright holders or even governments without warning or notice to the posters. Flickr removed photos of Egyptian government torturers simply at the request of the Egyptian government. No proof of ownership or copyright violations need be proven and no procedures of law need be followed. This is consistently abused by both corporations and governments as they attempt to control or censor content. Lawrence Lessing founded a non profit group the Creative Commons to allow people to control the sharing of information as an alternative to old style outmoded copyright law. The CC, used by Wikipedia and others, means content is free to be copied subject only to acknowledging the source and accurately reproducing the content. There are no monetary or legal trapdoors. Creative Commons Lessig MacKinnon also discusses user attempts to engineer around government Internet and other communications shutdowns during times of crisis. We think of China, Egypt, Tunisia, Syria and others, but MacKinnon reminds us that San Francisco's BART shut down mobile communications during demonstrations protesting the shooting of a citizen by BART security forces in 2011. BART officers killed another man in Oakland in 2009. Attention must be given to the political locations of servers and to alternative communications access means. Egypt used conventional dial access via international calls during their revolution and satellite calls are also accessible. Open source developers are working on decentralized dynamic networks that can reconfigure themselves to maintain network access during government shutdowns or attacks. An important book that should be read by all Netizens.
Amoxicillin For Sale, Deng Xiaoping and the Transformation of China, Ezra F. Vogel, 2011
A thorough (800 pages) account of the life and impact of Deng on the modernization of China. My Amoxicillin experience, Deng's history including his years in France, where he first met Zhou Enlai and Ho Chi Min, and Russia, his roles in the war against Japan and the Civil War against the Guomindang and the early years of the Communist rule of China up to the Cultural Revolution are covered in only 45 pages, Amoxicillin no prescription. The tale really begins in 1967, when Deng, Amoxicillin over the counter, age 63, is placed under house arrest. In 1969 with the plane crash that killed Lin Biao and the first Soviet incursions into Outer Mongolia, Mao has Deng sent to Jiangi province where he was given light factory work in an army controlled facility, online buy Amoxicillin without a prescription. He would not be recalled to Beijing until 1974, when Zhou Enlai had again fallen from Mao's grace and was dying of cancer and Mao himself was fast failing from Lou Gerhig's disease, Amoxicillin For Sale. After some success in restoring order to the railroads and key provinces, Deng again is attacked by Mao starting in 1975. Real brand Amoxicillin online, Zhou Enlai dies in early 1976 and Mao attempts a quiet ceremony only to see Beijing and Tiananmen overrun with spontaneous mourners. On April 5 1976 a massive demonstration is held in Tiananmen Square for Zhou and Deng. Jiang Qing (Mao's separated wife) and the Gang of Four (so named by Mao) set out to quell the demonstration and continue the criticism of Deng. Amoxicillin For Sale, Hua Guofeng is named Mao's successor and Mao dies on September 9, 1976. Hua immediately moves to arrest the Gang of Four who are tried and executed for their role in the Cultural Revolution and the purge following the April 5 demonstration, Amoxicillin without prescription. Deng immediately consolidates his power in the military and foreign affairs and quietly sets out to remove Hua. Deng never assumes the titles of leadership and never creates a cult of personality around himself. Buy cheap Amoxicillin no rx, The "Four Modernizations" to develop agriculture, industry, national defense, science and technology was formalized by Zhou Enlai in 1963 and underpinned the policies of Deng after 1977, Amoxicillin from canadian pharmacy. Mao had believed in the need for continuous revolution which resulted in the chaos and tragedies that were the Great Leap Forward and the Cultural Revolution, Amoxicillin For Sale. Mao engaged in perpetual war against the landlords and capitalists. But Mao also attacked the intellectuals and educated Chinese and Deng led in the purges of the Hundred Flowers campaign starting in 1957. Amoxicillin trusted pharmacy reviews, By 1977, Deng had come to realize that China would need an educated class to promote education, research, and modernization, Amoxicillin recreational. Chinese universities had been largely destroyed during the Cultural Revolution, were occupied by the army, Is Amoxicillin addictive, and were operating at a secondary school level. Amoxicillin For Sale, Deng moved to normalize relations with the US with a primary goal to send large numbers of Chinese students to US universities. He reformed the Universities to qualify students for admission to foreign Universities. Deng explained that working with your mind was the same as working with your hands and all work should be honored. Asked if Deng wasn't worried that the students would stay abroad, Amoxicillin overnight, Deng responded that it didn't matter because they were still Chinese and would help China wherever they chose to live and work. As it turned out sizable numbers of students did return to China where they played key roles in China's transformation.
Deng was famous for his memorable quotes "It doesn't matter if a cat is black or white, so long as it catches mice." and "When you open the door, flies will get in." to explain his openness to economic and market experimentation and willingness to tolerate some corruption if economic progress results, Amoxicillin For Sale. Buy no prescription Amoxicillin online, The usual focus is on China's development of the Special Economic Zones (SEZs) led by Shenzhen near Hong Kong which grew from a sleepy village of 20,000 to a metropolis of several million with tall modern buildings and all infrastructure needed to support modern manufacturing. But equally important to the transformation of China were allowing certain regions to move from collective farming to household farming resulting in huge increases in food production and the promotion of small enterprises at the collective and household level to produce and market products wanted and needed by the people Household farming and small scale enterprise came to produce half of China's GNP.
Particularly interesting were Vogel's reasons why China developed so differently from the Soviet Union and Eastern Europe, Amoxicillin dose. He points out the China had a long history as a culturally unified area dominated by the Han people. Amoxicillin For Sale, The entire country had a single written language and Mandarin was long the official government spoken language. Mao simplified the written language and made sure all Chinese were taught Mandarin and simplified Chinese writing. Comprar en línea Amoxicillin, comprar Amoxicillin baratos, Second, China has a long coastline and many deep water seaports unlike the other Communist countries. This advantage makes it far easier to import technology and export products. Transportation in the interior of China was limited but the coastal cities were not held back by this limitation, Amoxicillin gel, ointment, cream, pill, spray, continuous-release, extended-release. Third, China had the examples of Singapore, Hong Kong, Taiwan, South Korea, (the dragons) and Japan to study and emulate, Amoxicillin For Sale. Finally, many millions of Chinese were living overseas throughout the developed world. Order Amoxicillin online c.o.d, China found these overseas Chinese very ready to assist in the modernization process. Deng was advised by Singapore's Lee Kuan Yew and Hong Kong shipping magnate Y K Pao and several Chinese American Nobel laureates.
The largest foreign investor in China was Japan. Vogel points out that the eye opening trips made by Chinese leaders to Japan and Western countries in the late 1970s resembled the Iwakura Mission of 1871 in Meiji Amoxicillin For Sale, Japan. Like Japan, Amoxicillin wiki, these trips served to show the Chinese how far behind they were. This was brought home most tellingly when Deng visited an automated continuous production steel plant in Japan whose production was almost the equivalent of all China's antique plants combined. Amoxicillin results, With Japan's technical, financial, and management assistance, China today produces more steel than the US and Japan combined, Amoxicillin cost. Deng was equally interested in how Japan had converted from a war production economy during the war to a peacetime, consumer economy so quickly after the war ended.
Deng began his rule with two bold moves, Amoxicillin For Sale. No prescription Amoxicillin online, He authorized a lightning strike military invasion of Vietnam to demonstrate that China could threaten Hanoi anytime it chose. Troops took control of all northern county capitals then withdrew to China in only 28 days. Deng calculated that this surprise move would stall Vietnam's aggressions in Laos and Cambodia and to warn the Soviets to stay away from the southern region, would secure China for at least a decade, purchase Amoxicillin online no prescription, giving him time and space to implement his economic reforms. Second, Amoxicillin pics, Deng moved immediately to normalize relations with the US so that the Soviets would be detained from aggression, Chinese students could begin study in US universities to close the training gap, and the US could be encouraged to invest in China. Amoxicillin For Sale, Central in Deng's mind was US education of China's best students.
Vogel spends a lot of time discussing the Tiananmen Square student uprising of 1989, Amoxicillin for sale. Deng started his leadership by normalizing relations with the US and wanted to bookmark his regime with normalized relations with the Soviet Union. Gorbachev visited Beijing in late May 1989 to finalize the normalization agreement. Canada, mexico, india, Hu Yaobang, as General Secretary was a reformer promoting freedom and democracy much beloved by Chinese university students. Hu was removed from office and criticized for his failure to deal with student demonstrations in 1986, Amoxicillin For Sale. When he died in 1989, the students came to Tiananmen Square to honor Hu much like the earlier mourning demonstrations in honor of Zhou, Amoxicillin price. Hu replaced Zhou in the hearts of the students. Deng desperately wanted to clear the square by the time Gorbachev arrived. Herbal Amoxicillin, He wrote a tough editorial which only strengthened the resolve of the demonstrators. Amoxicillin For Sale, Days before Gorbachev and massive worldwide media arrived in Beijing the students started a hunger strike. Western press which came to cover the Gorbachev visit quickly turned their focus to the demonstrators. Deng tried to clear the square with unarmed soldiers but failed. He waited for Gorbachev and the Western press to leave then sent in heavily armed troops with orders to clear the square at any cost, online buying Amoxicillin hcl. Estimates of student deaths vary from 400 to several thousand. Zhao Ziyang was removed from power for disagreeing with Deng's handling of the demonstration, Amoxicillin For Sale.
Factions remained under Deng with the reformers on the right and the conservatives led by Chen Yun on the left. Amoxicillin class, The early success of creating a market economy in China resulted in double digit GNP growth for a number of years in succession. By the late 1980's the massive growth led to inflation anticipated to be 30% in 1989. Inflation was particularly hard on the mass of Chinese living with fixed incomes. Amoxicillin For Sale, Chen and the conservatives blamed the Tiananmen demonstrations on this inflation and moved too aggressively to contain it bringing the Chinese economy to a hard landing with growth under 4%. The conservatives remained in control until 1992 until Deng, Amoxicillin forum, then 87 years old initiated one final movement during his winter vacation in the south. During visits in Shenzhen, Amoxicillin pharmacy, Zhuhai, Guangzhou, and Shanghai, Deng spoke out colorfully and strongly for liberalization and expansion of his socialist market economy. Hong Kong media quickly picked up on Deng's tour and began broadcasting coverage of his talked via television which was now widely available in the regions near Hong Kong, generic Amoxicillin. Popular support for his views exploded and his hand picked successor Jiang Zemin quickly changed sides from the Chen led conservatives to the Deng led reformers. In his last movement, Order Amoxicillin no prescription, Deng thus set the stage for the resumption of the fast growth that continues to this day. From this time forward, inflation fighting measure assured that the economy would have a soft landing and rapid growth continue, Amoxicillin For Sale.
The British handover of Hong Kong took place in 1997 just months after Deng's death. Preparations for the handover occupied a central part of Deng's attention during his rule. He knew that Hong Kong would be invaluable as a financial and trade center as it had since the revolution in 1949, low dose Amoxicillin. Deng consistency pressed the one country - two systems approach to dealing with Hong Kong. Amoxicillin For Sale, He continued to develop personal relationships with key Hong Kong businessmen and made sure that the right people from China were appointed to Hong Kong and that Hong Kong leaders were developed to be able to take over when the British administrators left. One of Vogel's better stories is the visit of Margaret Thatcher (the Iron Lady) to Deng (the Steel Factory) in September 1982. Where can i order Amoxicillin without prescription, Thatcher was riding high after her victory in the Falken Islands and intended to tell Deng that Britain had decided to keep administering Hong Kong indefinitely. Deng changed her mind for once and all. China would administer Hong Kong and warned Britain not to attempt to drain assets from Hong Kong prior to the handover.
China's efforts to reassure the residents of Hong Kong received a big setback after the Tiananmen Square repressions and individual residents continued to leave Hong Kong for Canada and other destinations taking as much wealth with them as possible, Amoxicillin For Sale. For all the drama, the handover went smoothly and Hong Kong continues its role today as financial center and trading center for China and Hong Kong's residents continue to prosper.
What about Shanghai, China's largest manufacturing center when Deng took over. Shanghai was initially excluded from the SEZ creations because of its size and complexity and because Deng was worried that the SEZs would be seen as a recreation of the colonial past with the foreign concessions. Shanghai was allowed to modernize later and Deng's successor Jiang Zemin made his reputation in Shanghai.
Amoxicillin For Sale, It is difficult for those in China an abroad who became adults after Deng stepped down to realize the enormity of the problems Deng faced as he began this journey; a country closed to fundamentally new ways of thinking; deep rifts between those who had been attacked during the Cultural Revolution and their attackers; proud military leaders who were resistant to downsizing and budget reductions; public animosity toward imperialists and foreign capitalists; an entrenched conservative socialist structure in both the countryside and the cities; a reluctance by urban residence to accept over 200 million migrants from the countryside; and dissension as some people continued to live in poverty while others became rich...It is doubtful that anyone else had the combination of authority, depth and breadth of experience, strategic sense, assurance, personal relationships, and political judgement needed to manage China's transformation with comparable success.
Another reason to study this work is for the insights it gives into the inner workings of the political system, the campaigns, the training and promotion of leaders, the complex intrigues between ruling cliques. Deng watched events unfold as labor unions struck in Poland, Nicolai Ceausescu was overthrown in Romania, and as Gorbachev set out to reform the communist party only to see the collapse of the entire Soviet system. Deng was determined to keep a strong single communist party with adherence to the thought of Lenin, Marx, and Mao (with Deng as the high priest of interpretation). At the same time he believed that leaders should experiment, make mistakes, admit their mistakes, correct their mistakes, and experiment again. He carefully avoided the Kruschev mistake of critizing Stalin, finding quotes from Mao that he was correct 70% of time, in other words Mao made mistakes such as the Great Leap Forward and the Cultural Revolution, for which Mao accepted responsibility (he did?), corrected, and moved on to new experiments.
Deng believed that training leaders, giving them freedom to experiment, judging the results (did the cat catch mice, Amoxicillin For Sale. were the flies tolerable?), correcting mistakes, including changing leaders if necessary is the key role of the communist party leadership. Deng believed that reform and economic transformation could only be accomplished by the selection of the proper leadership at the national and regional levels. Deng and his cohort were the second and last generation to have experienced the wars as leaders. Deng was determined to force his cohort of old revolutionaries to retire with him and to pass the reigns to a much younger generation of leaders who grew up in very different conditions. We have now seem several and are about to see the next changing of the guard as the next generation assumes power in a peaceful transfer. All this is the rightful legacy of Deng.
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