If anyone thought the Obama administration planned to sit on the sidelines after the riots in Ferguson, Mo., those thoughts should be dispelled by now. Last Wednesday, Attorney General Eric Holder visited the suburban St. Louis community with the apparent ulterior motive of laying the groundwork for a federal criminal indictment against a white police officer, Darren Wilson, who on August 9 shot to death a local black youth, Michael Brown. Wilson, far from being a trigger-happy "racist" cop, very likely had acted in self-defense. Brown allegedly sucker-punched Wilson, tried to take his gun, and then, after walking away, violently charged at Wilson. Holder appears to put race above impartial law enforcement. Upon arrival, he stated at Florissant Valley Community College: "I am the attorney general of the United States. But I am also a black man."
It has now been over six months since General Motors finally recalled vehicles with a known deadly ignition switch defect. The defect was attributed with being the cause of accidents that resulted in at least 13 deaths. The Wall Street Journal now reports that only 34% of the recalled vehicles have been fixed.
GM has taken $3.4 billion in charges and losses on the past two earnings' reports for all of their recalls, despite the fact that most of the recalled vehicles have yet to be repaired. The most questionable part of GM's charges come from the first quarter's earnings' report.
General Motors continues to deny that it has a safety problem with brake lines that are prone to corrosion in as few as five or six years. Thousands of owners of GM trucks and SUVs have complained of failing brakes due to brake lines bursting from the rust problem. One of these owners, Joe Palumbo from Pennsylvania, has made it a quest (see his website here) to expose the safety defect, thus far to little avail. GM's latest response to Mr. Palumbo includes an implied admission that the company has been using inferior quality brake lines in its vehicles.
Two years ago, in August 2012, the U.S. Treasury Department issued its so-called "sweep" rule forcing mortgage giants Fannie Mae and Freddie Mac to surrender all future profits. Shareholders were angered. Some sued the government. Their displeasure now has a measure of vindication. Near the end of July, an unnamed source leaked a confidential Treasury document (see pdf) to the public, dated June 13, 2011, showing that the department was willing to go to bat on behalf of outside investors, particularly The Blackstone Group, to facilitate purchases of equity stakes in the companies. At the time, Fannie and Freddie were rebounding from a deep slump, yet their management, under tight federal conservatorship since September 2008, had their hands tied. The latest revelations may strengthen the claims of existing shareholders, and more broadly, the cause of property rights.
New York City Democratic leader Albert Baldeo was convicted last week of seven counts of obstruction of justice. He was acquitted on three counts of fraud related to the use of straw donors to qualify for taxpayer matching funds for 2010 for his unsuccessful City Council campaign. The scheme was exposed by NLPC and was the subject of a New York Post story on October 11, 2011.
Baldeo is a close associate of Rep. Gregory Meeks (D-NY). The two shared an office from 2006 to 2009. The two have jointly sponsored workshops and programs on immigration and mortgage foreclosure. Meeks even arranged for a Congressional Proclamation in 2009 that called Baldeo a "visionary leader" and thanked him for his community service. See photo.
The arrival of Al Sharpton in St. Louis could have been predicted. And his departure can't come soon enough. On Tuesday morning, Sharpton, the New York City-based minister, civil rights leader and media personality, was in town supposedly to defuse the ongoing street violence following the fatal shooting last Saturday by a white police officer in nearby Ferguson, Missouri of a local black youth, Michael Brown. As revealed days later by hidden video footage, Brown very likely had robbed a convenience store. Moreover, Brown minutes later assaulted the officer and tried to grab his gun. Sharpton has demanded that police release the name of the officer and arrest him. Early today, he got his first wish. Hopefully, the cop, Darren Wilson, won't have to hide for the rest of his life.
General Motors has yet another unresolved safety concern with its vehicles. This one involves trucks with anti-lock braking system (ABS) problems. The ABS in some GM trucks engages at slow speeds in dry conditions, leading to a loss of braking and increased stopping distances. Once again, this is a known problem at GM, as they have recalled vehicles previously from earlier model years with the same problem.
It has been two years since General Motors admitted that there was little demand for the Chevy Volt (as reported here) due to there being "no plug-in market." Their answer was to "create market" to drive sales for the politically popular but economically-nonviable Volt. GM manipulated sales for the Volt through the use of subsidized leases at a time when President Obama's favorite, green wonder-car was being criticized for low sales as it failed to live up to the early hype.
It’s been a month since the billionaire triumvirate of Tom Steyer (pictured), Henry Paulson and Michael Bloomberg introduced their ballyhooed Risky Business report on the climate, and after all the op-eds, blog posts and public interviews so far, all that can be said about it is that it is already an empty, meaningless PR campaign upon which the financial hot shots have wasted their money.
There is no there, there.
Logical scrutiny of the project, from its genesis to its outcome, would reveal how deeply flawed and biased it is. Given every contributing factor, there is no other verdict that would have been reached other than “we must all do something about global warming!” Yet the legacy media has treated Risky Business as something that was objectively conceived, and which has delivered perfectly reasonable conclusions. That is to be expected from pack journalists who don’t look beyond the climate crystal balls (also known as “models”) spoon-fed to them by big government scientists, but that doesn’t mean (and hasn’t in the past) that the public will swallow it.