Archive for 7/10-7/16
Like to Watch
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The 2,300 page Dodd-Frank financial bill passed yesterday. Only 3 republicans voted for it. The rest hope the voters hate Congress even more than they hate Wall Street.
Nobody knows how it will work – Chris Dodd says so. We do know there’s nothing in the bill about Fannie Mae or Freddie Mac. They’re not part of the problem – Barney Frank (scroll to 43.) says so.
Meanwhile, a Justice Department lawyer, Christian Adams, resigned his post. He was unhappy the department dropped his voter intimidation case against two New Black Panthers, one of whom was a certified poll watcher.
Death and Taxes
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Some guys have all the luck. Last year the estate tax was 45%. Next year it will be 55%. This year? Nil. Zero. The empty set. Businesses say this sort of thing makes it tough to plan for the future. One business isn’t complaining. Since he died in 2010, George Steinbrenner’s heirs won’t have to sell the Yankees to pay the taxes.
You Know The Drill
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The Law-Enforcer-In-Chief responded to two court rulings overturning his deep water drilling ban by ordering a new deep water drilling ban. Here’s the story in Bloomberg Businessweek.
Calling Dr. Berwick
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The president used a recess appointment to slip Donald Berwick by the senate in order to run the health care program Obama rammed through congress. David Axelrod insisted the president was simply trying to avoid a “circus in the senate“. Axe has a point. Dr. Berwick would have been performing without a net while explaining why he’s “romantic about the NHS (British National Health Service),” what he means by “the darkness of private enterprise,” and why excellent health care is “by definition redistributional “.
And physicians would have thrilled to his doctor defying comment, ” I would place a commitment to excellence – standardization to the best known method – above clinician autonomy as a rule for care.” You can read about this and other sayings of Dr. Beriwick in Daniel Henninger’s WSJ column.
Cleveland Breaks
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Brian Windhorst’s reporting in the Plain Dealer brings some more witness to the possibility of collusion. Friday night in Miami Chris Bosh said that he, James, and Wade had been talking about “the moment for months”. The same agency, Creative Artists, represented all three players and Pat Riley met with LeBron in November, inspiring him to give up Michael Jordan’s number 23.
Maureen Dowd gets in on the act,calling Miami a “Hoops Cartel”.
Fishy in Miami
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Guys propose marriage on the Jumbotron all the time at sporting events so why shouldn’t LeBron let down the home town fans on national tv – for a second time, if we’re counting playoff performances? The thing is, LeBron loves the spotlight so much it’s possible he was using his ESPN infomercial to make a confession.
By dumping on his Cleveland teammates again, this time to run off with Dwade and Heronimous Bosh, could he be guilty of collusion?
According to the same ESPN (this time wearing its reporters hat), NBA commisioner David Stern has said, ”he’s been assured at the “highest level” that there will be no sitdown among LeBron James, Dwyane Wade and the other superstars”. Well, that’s good to know. Otherwise it might seem suspicious that the threesome signed with the same team for less – 30 million less in James case – than they could have earned elsewhere.