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      Even though I know better — even though I know how cops think, and how politicians use them, and the racism that overrides all of it– I was still emotionally overwhelmed listening to Eric Holder summarize the systematic oppression of Ferguson residents in the Justice Department report today. How "routine misconduct" by Ferguson police can […] […]
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    • A negative interest rate world? Why?
      Umair Haque writes: Why are we approaching the new normal of a negative interest rate world? Simple. There’s nowhere good left to put all the money. Umair is referring to all the countries who are now offering bonds with negative real interest rates.  You get back less money than you put into the bond.  People [...]
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Richard Cordray is not Elizabeth Warren

Oh, so *now* Obama has the balls to make a recess appointment to the Consumer Financial Products Buereau. He’s going to catch hell for it from Republicans. He should have appointed Elizabeth Warren, but the boys club at Treasury is not going to let some broad give orders to them or anyone. They don’t even want to work with her. (Tim Geithner didn’t like Christine Romer, Sheila Bair either.  Huh!  Maybe the problem is Tim Geithner, eh?)  So, Obama did nothing.  The outrage from Republicans will be the same this year but the optics will look different, right Mr. President?  This is an election year.  All the human sacrifices of the past three years were painful but necessary so that you could get to January 2012 and announce that you are finally going to appoint someone.  And like the Lily Ledbetter Act, you will boast and strut like the cock on the walk as if you have really accomplished something that will make a difference to millions of people.

But Richard Cordray is no Elizabeth Warren.  She had conviction.  She knew what she was doing.  She made the financial services industry very nervous.  So, she had to go.  Cordray might be a nice guy but the emphasis is on “guy”.  Once again, we have an example of an old boys’ network where the alpha males are seeing who can piss higher on the wall and the beta males are kissing asses to get a plum appointment.  With a wink and a nod, Cordray will take his place and like so many Obama “accomplishments”, it will all be a bunch of sound an fury signifying nothing.  He’s not going to rock the boat if he knows what’s good for him.  He’ll be a team player.

The Republicans may try to block Cordray, but it was the Obama Administration that blocked Elizabeth Warren.

I saw a Hillary bumpersticker today.  It looked new.

Just sayin’.

**************************

In other news:  Some over the counter medications are dangerous.  In 2010, a 2 year old boy died from liver failure that was attributable to a children’s Tylenol (acetaminophen) product.  The parents are suing but to be honest, the trouble with Tylenol has been known for years.  Acetaminophen has unpredictable activity and serious liver damage is a well known side effect.  A few Tylenols might cure your headache, one extra might kill you.    It’s probably one of the more dangerous products on the market and you can get it over the counter, along with bubblegum and batteries.

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