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OpenMarket: October 2008

  • Last Minute Smear in Virginia?

    October 22, 2008
    Lies multiply in election years.  Legal commentator John Rosenberg notes that he "received in the mail today a glossy, large flyer from the 'Democratic Party of Virginia' saying, with many incorrect examples, that 'John McCain opposes equal pay for women.'"  In reality, neither McCain nor Obama has ever suggested that equal pay for women is a bad idea.  Instead, they disagree on what the legal deadline should be for bringing pay discrimination claims.  Obama just thinks the deadline for suing should be longer than McCain does....
  • Let Friedman Reign?

    October 22, 2008
    I have a review of Tom Friedman's new blockbuster Hot Flat & Crowded in the latest issue of The American Spectator. I'm not a fan, to say the least. Here's the introduction:
    Thomas Friedman has come up with a grand unifying theory for combating existential threats. The left worry about global warming and 14 inches of sea level rise extinguishing modern civilization and the right to choose. Neocons worry about evil Muslims lurking behind the bushes ready to set off one of their millions of dirty bombs in suburban malls. Neither worry is particularly realistic, yet they dominate much of American politics. Friedman has a solution to them both, which he calls Code Green. In Hot Flat and Crowded, he suggests that by the one simple, affordable step of, err, completely re-engineering the way we power America, we will stop global warming, destroy Islamic fundamentalism...
  • LibertyWeek 13: Scandal Watch

    October 22, 2008
    Tune in to lucky episode thirteen of the best pro-freedom podcast around, CEI's very own LibertyWeek, with your hosts Richard Morrison and Cord Blomquist.
    This week we cover everything from the Twitter revolution and falling oil prices to Sen. Ted Stevens'...
  • Sullivan: Blogs Are "More Alive"

    October 22, 2008
    Veteran journalist and editor Andrew Sullivan pens a love letter to the his favorite literary format, the blog:
    No columnist or reporter or novelist will have his minute shifts or constant small contradictions exposed as mercilessly as a blogger's are. A columnist can ignore or duck a subject less noticeably than a blogger committing thoughts to pixels several times a day. A reporter can wait—must wait—until every source has confirmed. A novelist can spend months or years before committing words to the world. For bloggers, the deadline is always now. Blogging is therefore to writing what extreme sports are to athletics: more free-form, more accident-prone, less formal, more alive. It is, in many ways, writing out loud.
    Sullivan acknowledges many of the pitfalls of writing...
  • That $800 Billion

    October 22, 2008
    So what has Paulson done so far with your $800 billion? He's rewarded his friends, of course. $70 BILLION has gone to executives and staff. The Guardian reports:
    Financial workers at Wall Street's top banks are to receive pay deals worth more than $70bn (£40bn), a substantial proportion of which is expected to be paid in discretionary bonuses, for their work so far this year - despite plunging the global financial system into its worst crisis since the 1929 stock market crash, the Guardian has learned. Staff at six banks including...
  • More Trade Means More Peace

    October 21, 2008
    If goods do not cross borders, then soldiers will. It's an old saying. Maybe even a cliché. But there is some truth to it. What wonderful news, then, that India and Pakistan have re-opened a trade route through the Kashmir region. Soldiers have been crossing that border for 60 years. Replacing those soldiers with spices, apples, and other, ahem, non-fatal goods will have two positive effects. First, those goods will become cheaper and more abundant in India and Pakistan. Second, the new trade route will help to strengthen the blossoming but still fragile peace; killing the customer is bad for business. Indians and Pakistani in and around Kashmir...
  • They're In The Money

    October 21, 2008
    We're hearing from a variety of sources that Jamie Dimon, the CEO of JP Morgan Chase, has agreed in principle to be Obama's Treasury Secretary. Dimon worked hand-in-glove with Hank Paulson over the Bear Stearns bailout. The new boss, it appears, will be the same as the old boss. Looks like the revolving door between Wall Street and the Treasury Department ain't going to stop any time soon. In a related note, the excellent Capital Research Center, which has done so much good explaining how leftist NGOs dictate public policy, has now turned its lights on Goldman Sachs...
  • Claptrap About the Supreme Court

    October 21, 2008
    Every employment lawyer knows that employees can sue over pay discrimination years after it happens.   There's a three-year deadline under the Equal Pay Act, a four-year deadline under 42 U.S.C. 1981, and a 180-day or 300-day deadline (depending on the state) under Title VII.  Moreover, these deadlines can be extended when appropriate under a doctrine known as "equitable tolling." Yet in today's Wall Street Journal, radical law professor...
  • What Taxes Are In Our Future?

    October 21, 2008
    Campaign promises about the economy often end up being unfulfilled.  Bill Clinton promised a middle-class tax cut, but increased taxes instead.  Jimmy Carter promised to cut inflation, but it went up to record levels.  FDR promised a balanced budget, but ran up record deficits.  And the elder Bush promised to create 20 million new jobs, but delivered economic stagnation. Still, Peter Ferrara looks at what would happen if Obama's proposed tax increases and tax cuts do become law, and argues that, if adopted, they would harm the economy's ability to produce jobs, and result in increased welfare. The tax increases may well go through, since there...
  • National Debt Clock Out of Space

    October 21, 2008

    In 1989 Manhattan real estate developer erected the national debt clock near Times Square. The total was "only" $2.7 trillion. With the debt busting past $10 trillion, the clock is now out of room. Reports the Associated Press:

    In a sign of the times, the National Debt Clock in New York City has run out of digits to record the growing figure. As a short-term fix, the digital dollar sign on the billboard-style clock near Times Square has been switched...


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