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Number of posts: 2
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Posts by Pat Garofalo:
With the New Hampshire primary now secured by Mitt Romney, the GOP presidential candidates are setting their sights on South Carolina, the nation’s first southern primary. And in one big respect, South Carolina is significantly different from the two states that preceded it in casting votes for the GOP nominee: its high school graduation rate is far lower.
In 2010, New Hampshire had the ninth highest high school graduation rate in the country at 83.3 percent. Caucus state Iowa was third, with 86.4 percent. South Carolina, however, is 49th, at 61.9 percent.
Yesterday, Jefferson County, Alabama, filed the largest municipal bankruptcy in U.S. history, the final step in a sordid tale involving sewers, credit swaps, and some of the nation’s biggest banks. The bankruptcy became necessary “after an agreement among elected officials and investors to refinance $3.1 billion in sewer bonds fell apart.”
The swap deal that sunk Jefferson County was crafted by the mega-bank JP Morgan Chase (in concert with other banks, including Goldman Sachs). As Rolling Stone’s Matt Taibbi put it when describing JP Morgan’s actions in Jefferson County, “here you can see a trail that leads directly from a billion-dollar predatory swap deal cooked up at the highest levels of America’s biggest banks, across a vast fruited plain of bribes and felonies — ‘the price of doing business,’ as one JP Morgan banker says on tape.”
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Also on the Dew
One wryly fascinating aspect of achieving "seniority" is that my senses have become more adept at finding free entertainment. Locating alternative sources of amusement has become almost a necessity these days. Daytime television remains abominable, cable TV is objectionally priced (probably by those same pirates who sell inkjet print cartridges) and the ransom one has to give up for seats to professional sporting events is unconscionable. Also, our local news daily, though not unreasonably priced is but a shell of its former self. It is no longer a joy to read. One amusing activity, I find, involves no equipment, no cover cha Read on →
I read the obituaries. But I no longer read a printed newspaper every day and the obits just are not the same in on line versions of newspapers. So I am forced to catch up on weekends when my satisfyingly fat Sunday papers arrive. I do not turn to the obituaries first due to a compulsive need to read the paper in proper order. When I finally get there I read them all, savoring the details, cringing at those my own age, and grieving the brief, one sentence send offs. My first born believes that we need a law requiring all Read on →
Summary: Why does that the line from Yeats apply to America in our times? "The best lack all conviction, while the worst / Are filled with a passionate intensity." One important reason is that the battle playing out in our politics is fundamentally a moral and spiritual battle, and while the right is connected to their moral and spiritual passions (even though that connection has been made on the basis of lies) Liberal America is not. Much of that disconnection in Liberal America is due misguided beliefs, including: 1) that "value" is not really real, and 2) that there is nothing in Read on →
How does that happen? Mostly, it's the result of a mixture of hubris and inadvertence. Humans, stuck on themselves, think they know it all. Others are convinced "all it takes is the idea" (the ExxonMobil slogan) and, as it was in the beginning, man says the word and nature is obedient. Fortunately, the age of electronics has made it possible to virtually eliminate inadvertence. We can look ahead and simulate what will happen, if we repeat the mistakes of the past. That's what James Holland is doing with the various projects at Cannon's Point in the marshes on the coast of Read on →