Sunday, October 19, 2008

Mortgages, Foreclosures and Moral Hazard

I was talking to the spousal unit yesterday as we did our part to stimulate the economy (we bought a coffee maker and a crock pot) on how to address the problems of mortgage holders and the damage the housing bubble has done to all house buyers, not just those with toxic mortgages.

While attention has been on the people who face foreclosure or are underwater (noting that owning a house where the loan is greater than the current market value does not mean you face foreclosure), attention should be given to any home purchaser since 2002 who bought in an artificially inflated market. If a HOLC/HOME operation is to avoid moral hazard, which is basically bailing out people who made bad economic choices and making non-participants liable for their bad choices, then it has to be available to any home purchaser from 2003 through anyone whose purchase closed on or before September 30, 2008. Anyone should be able to have recourse to a government renegotiation for their loan, just as the banks can get the government to bail them out - why should Wall Street have all the fun? But there are a few rules.
  • The house must be the principal residence of the home owner. No vacation house, no income properties, no pure speculation buys.
  • Only one bail out per buyer. If you were speculating, too bad.
  • This can only address original loans, not refinances with cash out or HELOCs. Sorry, not interested in supporting your equity extraction.
  • It only addresses first liens. If you have multiple loans on the house, sorry, can't help you with those.
  • It does not matter what kind of loan you have. 30 year fixed, interest only ARM, whatever.

Those rules will eliminate a large bunch of buyers right there. If you aren't living there, and/or you have been using the house like an ATM, and/or you can't be helped with just fixing a first loan, mail in your keys now. Then, there is the loan itself.

  • The value of the home will be calculated as its estimated worth at December 31, 2002. Why? Because that captures all recovery from the last housing slump, so factors in real appreciation (probably too much) but stops short of the market frenzy. It still leaves houses too expensive. My own house would lose about 25% of its purchase value in a case like that.
  • The banks can't refuse to sell the loan back to the government and they will absorb the difference between the purchase price and the 2002 price. You guys should have known better than to make the crappy loans, sorry. It's called taking a financial risk.
  • The owner has to be able to make payments on a 30-year fixed loan with 6.25% interest from their current financial condition. Those are extremely good terms. Can't do that? Sorry, can't help you, mail in the keys.
  • The reduction in home loan value becomes a matter of public record.

OK, so if anyone who has bought a house since January 1, 2003 can go get this spiffy government loan, what's to keep everyone and their cousin from getting out of their debt obligation?

  • If you got a 30-year fixed rate in early 2003, your rate was probably lower and the price difference between your purchase and the December 2002 cost not that much, so there is no advantage to the deal. The further you get from that date and the less conventional your financing, the more valuable the deal becomes. Thus, there is a good incentive structure. Update - also, the closer you get to September 30, 2008, the less good the deal becomes because of depreciation in homes. Thus, while open to all, it really targets people who bought at the height of the market.
  • No equity extraction allowed. We're not here to give you spending money. If you've got other debt, too bad.
  • If the house stops being the primary residence of the borrower, the loan is due in full, i.e., no converting to income property, no handing it over to the kids.
  • If you accept the government deal, you have to hold your house for the full term of the loan. If you sell it for more than the loan amount before the end of the loan, any amount greater than the loan amount up to your original loan amount, less any down payment you put in, goes back to the government.

There is no way for the original borrower to profit off the purchase unless they hold the property for the full 30 year mortage. If the borrower dies, the estate/inheritor can take over the loan on the same terms as the original borrower, or can sell under those terms. The borrower cannot transfer title to another owner to try to get around the 30-year rule. If the borrower does hold, then they may see some appreciation in the value of the home and may have wealth to pass on to heirs. This allows the house to remain a vehicle for multi-generation wealth creation, which helps low income borrowers the most, which is the point of trying to increase home ownership in that group.

Since the government is taking the risk, the government gets the profits of anything short of full performance. You can sell at any time. You just don't get to make money from it. If you have bought the house as a residence, then this is not a problem. If you must move for job or family reasons, you will be able to sell at a reasonable price so are not trapped due to negative equity. The repricing also serves to bring housing values down all over, increasing the stock of affordable homes and hastening the return of more reasonable house prices.

This is a very high level suggestion, of course, but it tries to address how to fairly and equitably revalue the housing market in a way that does not reward the speculators and sheer idiots but provides real relief for people who actually want to keep their house.

Anglachel

Saturday, October 18, 2008

Ambiguous Conversations

Anthony McCarthy has a post up on Echidne of the Snakes that is well worth reading, The Suppression Of Clearly Bigoted Words Is A Necessary Step. What he proposes is very straightforward - when anyone uses bigoted derogatory language towards individuals and/or classes of people or that perpetuates bigotry and derogatory treatment of a class of people, harass the living hell out of them until they stop doing it:
Achieving the suppression of the language of bigotry is straight forward, you suppress it. You make the use of the words uncomfortable and an invitation to be hassled. For example, the blog boys use the word “cunt”. The way to make them uncomfortable is to constantly call them on it when they use it. It’s simple as that. They refer to women in that way, you make that uncomfortable for them, you harass them whenever they say it. You make it not worth their wile to use the word. When they whine about your calling them on it, you just do it anyway. They pout about you ruining their fun and boy bonding, you ignore it and keep calling them on it while taking pleasure at their discomfort. Their discomfort is a sign your plan is working, I see nothing wrong with enjoying it, privately. Of course, you've got to give up using language like that yourself, you've got to have credibility.

I fully concur.

There is no liberal cause that is advanced by using bigoted and derogatory language. Nailing someone for using this kind of language does not require you to check their political credentials or determine what side they're on because it's just wrong. The difficulty will be in training yourself to think more critically about the language you encounter and to refuse to excuse it because it is aimed at a political opponent.

Some stuff is easy, like name calling. "[Name goes here] is a [epithet goes here]!" is a simple formulation that calls for critical evaluation. Calling someone a cunt, a ho, a fag, etc., is simply out of bounds. Simply starting with this would do an enormous service to the level of discourse without preventing powerful opposition.

What's harder are oblique references. What do you do with a statement like "They're just bitter knitters."? To me, this is bigoted and derogatory because of the stereotyping, the projection of intent, and the reduction of a class of people (all supporters of a candidate) to a gendered and mocked activity, but it doesn't use a "bad" word. What about a phrase like "throwing dishes" or "the claws come out"?

What about uses of language that do attempt to use bigoted words and phrases in an ironic or contestatory way? Anthony notes, "Those words and similar ones shouldn’t be tolerated no matter what comedian or pop star has used them in their act, no matter how gratifyingly transgressive they make the user feel." OK, so what about my blog tag line - "You say I'm a bitch as if that were a bad thing..." I use it to mock those who would (and do) call me a bitch. Qualities attributed to being a "bitch," being tough, getting in people's faces, fighting back against domination, are things that women are not supposed to do. Yet, it is clearly an epithet, so should I use it? Why or why not? What about my use of the tag "Media Whores"? Is calling anyone a "whore" ever acceptable?

Pressing on, what about a term that is used widely and is not aimed at anyone in particular, perhaps not even used as an epithet, but which has derogatory overtones? My current pet peeve is "bitch slap", a term linguistically paired with "pimp slap" and arising from abuse of prostitutes by pimps and johns, which was brought into the political lexicon by WKJM as "the bitch-slap theory of politics," and is now used in economics discussions by people like Paul Krugman and Ian Welsh, who used the term today in this article. Why use this particular phrase? What value does it bring except to invoke the picture of a woman being slapped around or, focusing on the slap itself, of a weak, laughable, "girly" way of doing things. Without the derogatory gendered meaning, it doesn't work.

How about agreement with the statement of others? What about Atrios and his infamous "Heh," when he quotes another person's words or links to something that is derogatory and bigoted? Does agreement or promotion deserve the same reaction as being the originator? How about stuff in the comments? Are bloggers or site proprietors to be held responsible for the language of the commenters? I say yes. What do you say?

Finally, what about non-linguistic communications? If I post an image of Anne Coulter being subjected to violence of some kind, but I don't write any objectionable words, should I be harrassed until I remove it? What about blogs that run ads that have bigoted or derogatory imagery and/or phrases?

I think Anthony is right. The only question for me is how far to take it. Commenters, share your thoughts.

Politely.

Anglachel

Friday, October 17, 2008

The Price of a Woman's Life

...to PepsiCo is a single can of soda.

Shakesville has another one to add to the unending series of Assvertising and Rape is Hilarious, and this one is making me shake in rage, especially after the the posts of the last few days.

Pepsi has a new ad campaign showing a person being bribed to look the other way and allow another person (and at least one chimp) to do something "naughty" in exchange for a can of Pepsi. The ad evidently is running in France.

There is an image of a trucker giving his truck keys to a chimpanzee in exchange for a Pepsi. The chimp wants the truck full of bananas.

There is an image of a NASA astronaut handing over a space suit to a teenager in exchange for a Pepsi. The kid wants to go on the space shuttle.

Finally, there is an image of a lifeguard handing over a lifeguard shirt to a teenager for a can of soda. The kid is leering at an unconscious woman in a bikini at his feet, gouges in the sand leading back to the shore where she has been dragged out of the water. He obviously intends to have sex with the comatose and possibly dying woman.

Truck of bananas = space suit = woman unable to resist rape. All interchangeable. All fair game to sell some carbonated sugar water. Hey, guys, it's totally cool to grab a Pepsi and walk away while a woman is raped. Really! If she didn't want to get fucked, she wouldn't have worn that bikini or come to the beach or made herself look nice or, ... hell, she's female, she's fuckable, just do her. That's what she's for.

Just another unit of exchange.

Anglachel

A Room of One's Own

If you have not yet read Echidne's post, The Right to Go Out, go there at once and read it. It's brief and I'll wait. Back now? Good.

The line from the post that sticks with me is this one (my emphasis): "My second reaction [to a statement quoted in the post] was the realization that people mostly don't see that female fear of the outside as a civil rights issue or a human rights issue. It's just How Things Are."

Without disagreeing with Echidne, I think the argument can be applied more broadly – the problem is that there are almost no physical spaces women may safely occupy and that the home may be even more dangerous than the street. Echidne’s observation that, “In most societies women who go out alone at night are at greater risk than men who go out alone, because women have to deal not only with the risk of getting mugged but also with the risk of getting raped. They are seen as prey,” can be applied to any location. A workplace, a parking lot, a path or sidewalk are places where women are stalked as prey, but so are homes, both in and out of buildings.

The percentage varies with the study being done, but it is the majority of violent assaults on women are by someone they know, a partner, a relative, a family friend. The most common place for this violence is the home. Where the hell do you go if nowhere is safe?

I have been raped more than once, always in my own home, always by someone I knew. I am lucky that the only man who threatened to kill me decided to batter holes in the wall beside my head while screaming how he would kill me instead of doing the deed. I am also lucky that I was able to leave that situation behind.

What of women who cannot? What if you lack the money and the support to get a room of one’s own?

The current financial meltdown will produce an upsurge in violence against women because the opportunity to engage in this violence without repercussions to the abuser will also increase.
If you have no health insurance except what your spouse or domestic partner gets through work, you have to calculate the costs of losing that coverage. If you kick out an abusive partner, will you be able to pay your mortgage or sell the house at any price? Shelters are closing for lack of funds – would there be a place to go to? If you have children who need to be protected, how might homelessness affect them (PDF)? Will rents be affordable even if you have your own income? Will employers hire you if they know you have a restraining order against a violent partner? Will you be targeted to be let go if your home life threatens to spill over into the workplace?

What about community programs that try to combat violence? The Family Justice Center of San Diego provides a one-stop-shop to help victims of domestic violence to work their way through the legal and social service tangle and get help. It both is and is not a part of the city and relies on volunteers, grants and donations to keep running. How will it be affected when corporate donor budgets are cut to the bone, charitable groups have less to give, and volunteers may need that time to work for wages? City of San Diego Police Department has one of the best domestic violence response units in the country, and works closely with the Family Justice Center (FJC). The City is also looking at a 10% cut across the board budget cut. What will happen to this unit? To similar units in other cities? What about emergency medical services? What about undocumented aliens? Will they protest if it might mean a visit from the INS? FJC won’t ask about your residency or citizenship, but will legal and social service agencies that use public funds be required to report suspected illegals?

Given a political and cultural environment awash in misogynistic imagery and sentiments, where the leader of the majority party is openly courting cultural conservatives and saying privately to the money men that social programs and services will be cut, we can expect to see policy and funding choices biased towards “family values” and increasing privatization of the risks of ordinary life. If misogyny and violence against women are not seen as civil rights or human rights violations, then the home becomes that much more dangerous a place because it is just a private matter, just that bitch getting in his face, you know, so you can understand why he had to give her a smack to make her calm down. Or maybe more than that. Whatever it takes to reassure the abuser that order has been restored.

In the current political environment, how difficult will it be to secure a room of one’s own?

Anglachel

Update - I have received some incredible comments from a number of people, some who said they've never posted a comment before to a blog. They are almost all stories about a woman's encounter with violence in her home. After consideration, I will not post these, even if the writer did not specifically say "don't publish", though most of you did say that. Thank you for trusting me enough to tell me these things.

Democratic Women up for Election

Courtesy of Hillary, information and contribution links to Democratic women up for election:

Three Senate Challengers:

In North Carolina, Kay Hagan is running a great race and some polls even show her ahead. Kay will invest in helping families stay in their homes, reducing foreclosures, and finding innovative new ways to stabilize neighborhoods. She will seek public-private partnerships to renovate neighborhoods and turn foreclosed properties into affordable rental or ownership units.

Mary Landrieu has been working her heart out for the people of Louisiana, still focused on Katrina recovery three years later while her opponents are doing everything they can to knock her out of her Senate seat. Senator Landrieu is spearheading efforts to rewrite federal disaster laws, which are unsuited to deal with larger disasters like Hurricane Katrina and largely ignore communities that host disaster evacuees.

And Jeanne Shaheen is criss-crossing the battleground state of New Hampshire, working hard in a race that is one of our top pick-up opportunities. Jeanne and I both have a long record of advocating for expanding children's healthcare. While Governor, Jeanne launched the New Hampshire's Children's Health Insurance Program, which has provided affordable health insurance to tens of thousands of New Hampshire children.

Anglachel - I'd really love for Jeanne Shaheen to pick up John Sununu's old seat.

Running for Office for the First Time:

In Colorado, Betsy Markey is running against Marilyn Musgrave, one of the most conservative, anti-choice Republicans in Congress. She's facing a million-dollar attack plan from a GOP desperate to hold on to this seat.

In Pennsylvania, local businesswoman Kathy Dahlkemper has taken the lead in a race that many thought Democrats couldn't win. Her opponent, Republican Phil English, has held his seat since 1994.

Shelly Moore-Capito is the only Republican in West Virginia's Congressional delegation, and Anne Barth, who has worked for years with my Senate colleague and friend Robert Byrd, has the chance to make West Virginia a totally Democratic state.

Anglachel - Some new faces in the House would be a good idea, especially if we can replace wingnut Marilyn Musgrave with Betsy Markey.

Wes Clark is supporting women Democrats, too. He's one man who isn't afraid to promote women in the military or in politics.

3 Fighting Women

Gabrielle Giffords
Gabrielle Giffords is a first term Congresswoman running for re-election in Arizona's 8th Congressional District. Gabrielle's business experience has made her an effective leader, successfully pushing 7 bills and amendments into law while introducing over 20 pieces of legislation in the House. Her priorities include expanding health care for American families and promoting alternative energy research and development.

Gabrielle's a rising star in our Party, and we must keep her seat in Congress. But her race is one of the most competitive in the country, and she needs our help. The right-wing is pouring in national resources in an attempt to take back this seat. In fact, George W. Bush visited Arizona to campaign for her opponent earlier this summer, raising half a million dollars. Help Gabrielle fight back against the likes of George W. Bush.

Dina Titus
Dina has worked tirelessly on behalf of Nevada's most vulnerable citizens by promoting legislation that allows seniors and other Nevadans to purchase less expensive prescription drugs from Canada, mandates tougher penalties for criminals who commit identity theft, and increases penalties for offenders who perpetrate crimes against the disabled.

Her opponent, Jon Porter, has spent the last six years fighting for the Washington special interests. That's why he doesn't want to run on the issues and is up with the first negative ad in the race. I am asking you to join me and help Dina fight back.

Judy Baker
Judy Baker is running in Missouri's 9th Congressional District. It's a tough district with a partisan voting index of R+7, but her first poll shows her two points ahead of her opponent. This is exactly the kind of race the WesPAC community has made our specialty. We don't back down from the tough fights, and this is one of them.

Judy's experience saving rural health clinics and operating her own small business has made her a strong leader in the state legislature, where she has advocated for education and health care access. She stood up to the Republican governor's plan to cut 200,000 children and seniors off of Medicaid and voted to cut her own benefits instead.

The polls show Judy within striking distance of Republican Blaine Luetkemeyer. We need to help her make up the difference. Please contribute to Judy's campaign today!

Anglachel - Dina and Judy are two-fers. Electing them puts in a Democratic woman and takes out a Republican man. Not a bad exchange rate.

Put Democratic women into power at every possible opportunity.

Anglachel

Wednesday, October 15, 2008

The Lady Killers

I delayed a few days in writing this as I didn't want to rain on Paul Krugman's Nobel parade, an award he richly deserves, but even he says it's time to move on from that.

I was disgusted by Krugman's blog post on October 10, Not about the Financial Crisis, but not for the reasons most people had. Most writers focused on the comments about the right-wing hatred towards Obama and how afraid Krugman felt seeing this hatred. Part of me is just tired of the "They're all out to kill me!" story line Obama has been pushing since last year. News flash, Precious: Anyone who runs for or occupies the office of President becomes a potential assassination target. Ask George Wallace. Ask Gerry Ford. Why was Krugman so shocked, shocked, at the sight of angry right-wingers chanting violent threats? Political violence in this country is overwhelmingly from the Right, with a few notorious examples on the Left. It is often mixed with racism and always linked to authoritarian personalities who believe that they have some cause or mission that justifies their use of violence to achieve their ends. This is what ties William Ayers to Timothy McVeigh, and why ethical people shun Ayers to this day. He ordered the murder of people for ideological reasons and has never repented of his acts. It is to the credit of the Left that we don't have many like this. But what bothered me most about Krugman's post was not what he said, but what he left out.

He said:

We've seen this before. One thing that has been sort of written out of the mainstream history of politics is the sheer insanity of the attacks on the Clintons - they were drug smugglers, they murdered Vince Foster (and lots of other people), they were in league with foreign powers. And this stuff didn't just show up in fringe publications - it was discussed in Congress, given props by the editorial page of the Wall Street Journal, and so on.

What it came down to was that a significant fraction of the American population, backed by a lot of money and political influence, simply does not consider government by liberals (even very moderate liberals) legitimate. Ronald Reagan was supposed to have settled that once and for all.

The problem, Paul, is that the Left has been doing the exact same thing to the Clintons and Clinton Democrats for the last eight years. The Incomparable Bob Somerby gently takes Krugman to task, as he does all self-styled progressives who avert their eyes to the sins of the SCLM (my emphasis):

THE DECLINE OF THE REST: Paul Krugman has long been our favorite top-level columnist-the one who almost always says something accurate and/or relevant. And of course, Krugman is the only high-end columnist who would have typed what follows. As we noted yesterday, this material appeared last Friday, on his New York Times blog: [quoting same paragraph as I did above]

There are shortcomings to that paragraph-which appeared as part of a short post on a larger subject. In our view, it's always a mistake when liberals fail to mention an obvious fact-the fact that the insanity of the attacks on the Clintons was quickly transformed, in March 1999, into the insanity of the attacks on Candidate Gore. And that twenty-month Group Insanity "didn't just show up in" conservative editorial pages, like that of the Wall Street Journal; it was heavily driven by famous "liberals" on the op-ed page Krugman shares. We especially think of Frank Rich and Bob Herbert, who were still driving the most inane critiques of Gore even after his first debate with Bush. But the sheer insanity of the 1990s was widely purchased, all around. Even "liberals" signed up for the Clinton-hatred, then agreed to extend it to Gore.

None of these giants has ever explained why this insanity happened.

As Krugman put it, this history-changing episode has been "written out of the mainstream history of politics." Most career liberals still won't discuss it. For that reason, most voters have never heard that it even occurred.

Among top-end pundits, only Krugman will ever discuss this insanity.

Somerby's point, expressed mildly towards Krugman in recognition of the work Krugman has done to call out the idiocy, is that it is not just the Right that launched broadsides against some of the most talented and capable leaders we currently have, but the Left was fully involved in it, too. This election season, all of the worst attacks on the Clintons have been from the Left, right down to repeating the lies about murdering a personal friend, about their aberrant sexuality, about their criminal business dealings, about their insatiable lust for power. Cover the names and you couldn't tell Scaife from Josh Marshall.

What the two best critical voices on the Left have also left out in these criticisms, particularly glaring in Krugman's post given his focus on violence and assassination, is that this election season has not been marked by racism, but by misogyny of a very violent kind, and that this violence has come overwhelmingly from the Left. I don't think this is because the Left is inherently more misogynistic than the Right, but see it as a sign that expressing hatred of and desires to inflict violence upon women is as acceptable across the political spectrum as racism was in the first half of the 20th Century. While Krugman was consistently critical of Obama and the more general lies his campaign promoted about Hillary Clinton throughout the primaries, he has a single blog post after the primaries were over scolding a general audience (Sexism? Who, us? )about the presence of "raw sexism" as one of a number of factors that made for a bad primary, but immediately walked back his criticism by saying "So this is no time for a protest vote."

And why not?

While he has a public freak out over some typical wing-nuts yelling violent threats, Krugman did not say a single word at the time (nor anything since) about Keith Olbermann's very public exhortation on national TV for some Democratic delegate to kill Hillary because she was politically inconvenient. As I said then:

...However, certainly within the liberal blogosphere and the MSM (I do not venture into the wingnut fever swamps), there is no drumbeat for violence against Obama.

This is not the case with Hillary. I have myself read comments advocating rape and murder. I have read main posts saying she was inciting violent acts against her, or saying they could "understand" the position of those who wished violent harm to befall her, her husband and her daughter. The descriptions of what Obama should do to Hillary verge on the pornographic. Not a day goes by that some prominent voice on the left or in the MSM does not demand her submission, subordination and public humiliation.

And now a major MSM celebrity and talking head, not some anonymous commenter on some obscure blog, has openly and unapologetically advocated that Hillary Clinton be marched into a dark room and murdered.

Think that is too far? A real stretch? Just a tad bit hysterical? Replace Hillary Clinton with Barack Obama in that formulation and you tell me what that means. If someone said this about Barack Obama, it would mean that this man be lynched to remove him from a path to power. Period. Full stop. No equivocations. It would be understood as nothing less than a call for the man's murder, and there would be an outcry from EVERY Democrat, even those of us who do not much care for Obama as a candidate, condemning those words, because that is what we are called upon to do when confronted with evil.

And, when those kinds of threats were made towards Obama, they were instantly and vehemently denounced and not just by Democrats. It was called for what it was, on the spot, and McCain was rightly held responsible for tacitly condoning the threats. The Right needs to be called out and condemned for its reliance on threats and acts of violence to advance its political goals. It is the party of Timothy McVeigh, of clinic bombers, of Abu Ghraib.

But the Democrats and the self-proclaimed progressive blogosphere have shown themselves to be more than willing parties to misogyny and violence against women. Along with Olbermann's homicidal fury, there were the widespread comments after the Kentucky Derby that the euthanized filly was a good example for what should be done to Hillary. The language and imagery I mentioned when writing about Olbermann resurfaces every time there is a breath of a rumor that somehow Hillary isn't campaigning hard enough for Obama. How she is going to pay if he loses, because... well, because she is there and women are the usual targets of violence when men feel disempowered, disrespected, disappointed that they didn't get what was owed to them. The deep irony of the Obama campaign's self indulgent "She wants us dead!" yowling over the RFK reference is that the parallel was between Hillary and RFK - trailing in the delegate count but persisting to the end despite threats and danger. She was the person in RFK's shoes and the one at risk of murder, not Obama, especially given the constant agitation against her at every level of the media.

I started to write up a post about misogyny and this election cycle and found I have been writing about it since November 4, 2007, almost an entire year. I doubt I will be finished after November 5th, 2008. This campaign has been defined by false claims of racism and the brutal enactment of misogyny. The assaults on women as women show us that using misogyny to intimidate and eradicate female participants (voters as well as candidates) is excusable in a way that racist assaults are not. Racist attacks have to be dog whistled because they cannot be made openly without immediate backlash and condemnation by people in power and major opinion makers. Allan's "macaca" moment is an example of this, and I think the McCain campaign rally tapes will be another. Public imagery of Obama that has any racist overtones (such as the New Yorker cover, which I do believe was intended as satire) is greeted with anger and derision. There are words you just can't say in connection with Obama without having hot coals heaped on your head.

This is a good thing.

It is how our society should respond to attacks upon anyone for what they are. It is how any true progressive will respond, regardless of how the larger society behaves. But this outrage does not extend to women. Language and imagery denigrating women as women (bitch, shrew, whore, cunt, slut) are available on most of the well-trafficked locations of Left Blogistan, in the spring referring to Hillary, this fall referring to Sarah Palin. Cannonfire presents a few ugly examples of just how unfiltered the hatred has become, and is probably not safe for most workplaces.

The people at McCain's rally were indefensible, and we did not see any mainstream, reputable new reporter of public figure saying that he could "understand" why people would want to murder Obama, or even something less than that level of violence. We saw and heard exactly that kind of excuse summoned to dismiss threats and smears against Hillary and we are in a rerun of even worse with Gov. Palin. Violence and maltreatment of women has as long and, yes, as violent a history in this country as racism. Neither women nor minorities have been treated all that well, and both have placed their hopes in the Democratic Party to right past wrongs and prevent more in the future. This election cycle, whether the mainstream media will acknowledge it or not, whether the A-List blogs will cop to their gleeful gang bang of women they love to hate, has been a very public repudiation of one groups' hopes.

That female identification with Hillary and later Palin has been dismissed as either irrational (vagina voting) or actually a sign of secret racism exposes the ease with which misogyny is mobilized to try to belittle, badger, and dominate. Its very ubiquity makes it unremarkable and difficult to problematize. Our arguments and explanations on how we perceive our interests to be best served are trivialized as the whines of "bitter knitters" instead of serious challenges by engaged citizens. Insisting that we be heard garners a mix of aggressive bluster and wide-eyed faux-innocence.

Misogyny deniers try to focus on just a few figures, and explain away broad actions as being reasonable responses to these despicable, polarizing broads. No, no, it's not that we are kicking women down; it's that Hillary's a cold bitch! We'd like someone else. But not Ferraro, that racist, shriveled up old hag. And Chelsea is really just letting herself get pimped out. Then we defend teenage sexuality, except for that wanton slut, Bristol Palin, and her bigger slut, the mother I'd like to fuck (MILF), Sarah. But then how to explain the fury expressed at women who do not support Obama? It's any woman who does not toe the line, not just the politicians.

Too many doing this, male and female alike, will not accept that the modes of attack "work" because they rely on a background of bigotry and denigration that attaches itself to all female bodies. They can laugh at images of a fist smashing into Palin's face until her bones are broken and her teeth are knocked out because that is an excusable, if not precisely acceptable, way to treat women in this culture. I think of the photos of the faces of battered women in Annie Liebovitz's photo essay book, Women, and wonder what they would think of that imagery. The shirt "Bros before Hos" with Obama and Hillary's faces on it was a giggle fest for most of the left wing blogs ( at worst a "tsk, tsk, that's childish" objection) but "works" because women are whores and we brothers have to stick together against those greedy bitches. We all know women are just out to bleed you dry, just like your ex-wife did. The current pop hit "Whatever You Like" is little more than a sugar-coated version of a man asking to buy access to a woman's body, but the bro/ho relationship is clear.

Would there have been similar amusement on the Left if McCain supporters promoted shirts with a racial slur, such as "Homeland before Homeboys," or "Stop the buck here"? When someone proposed a PAC called "C.U.N.T" with an image of a star-spangled female crotch, it was seen as tacky at worst and usually as uproariously funny. What if there had been a PAC called "No Indulgence, Genuine Gains, Equal Rewards," with an image of a blackface minstrel in an Uncle Sam costume, or other patriotic emblems on a disembodied rapper (capped teeth, baggy pants, set of heavy chains and medallions, etc.), wouldn't that have been some good natured ribbing? You know, don't take it so seriously or personally. What about PACs called S.P.I.C., W.O.P., K.I.K.E., B.E.A.N.E.R, etc.? All in tacky fun, hey?

Calling Hillary a cunt or Sarah Plain a slut only work because of the misogynistic backdrop in which we understand that these are qualities of being female, and where they are used to shame, humiliate, intimidate and justify violence against the women so named, exactly as racial epithets are used to do the same on reviled minorities. These kinds of racial epithets and imagery were acceptable, even respectable, in popular culture. Alex Guinness' great movie, Kind Hearts and Coronets, released in 1950, shocked me when I saw it in the 70s. Watch the movie trailer for the particular scene. Some versions have been dubbed to remove the offending word. I remember eating at "Sambo's" restaurants as a child, a chain marketed through racist imagery. It is now gone. Conversely, there are two "Hooters" restaurants within 10 miles of my house, where women's breasts are the central marketing tool for second rate fried food. It's promoted as a "family" restaurant, by the way.

What the campaign season has demonstrated is misogyny is as acceptable a weapon of social and political dominance as race demagoguery was through George Wallace's presidential campaigns. By Reagan, it was dog whistle time. I've written before why the fauxgressive Left is happy to profit from misogyny as a social condition in Just Like Grad School and Weeding out the Competition,

The reaction can be guilt rather than anger because there is really no chance that this class of people will ever get ahead as a class such that there would be competition. It may not be PC to say this, but there is a very rational basis for working class white racism that has nothing to do with believing minorities are lesser beings and everything to do with keeping that structural advantage in place. That's why the cynical claims of the Obama campaign about Archie Bunkers - when the target is actually the guilty upper middle class - doesn't ring true. Obama himself is no threat. He codes "white". The threat he offers is not raising up minorities but turning his back on all the working class and failing to enact policies and programs that will help those who are struggling. The real way to undermine racism is by increasing economic stability and prosperity, not by trying to shame people living on the edge as some kind of moral reprobates.

Change the makeup of that class and suddenly the privileged white boyz start getting nasty. The structural disadvantage that kept women from competing directly for previously male-only positions, structures both legal and cultural, have disappeared with enormous speed in the last forty years, especially the last twenty, and while entry of women into the workplace in professional and skilled labor ranks (they have always worked their asses off in retail, agriculture and service industries) has increased household income, it has also curbed a rise in male wages while offering increased competition for positions. Women's economic success has directly harmed individual male economic success and the concomitant social privilege. ...

The success Hillary is enjoying is flushing the fauxgressives out of the woodwork. Hillary hatred has permutations beyond simple misogyny, but the very real competition that women as a class offer these guys is what we see bubbling up in anti-feminist broadsides and pathetic attempts to reduce women's choices and aspirations to acts of vagina voting or bitchy resentment. What we are seeing in this election, from right and left, is the rage of white males who see their privilege under real threat and they don't like it one bit.

It's not the entire explanation, but I think it explains a large part of why Left Blogistan fell all over itself to see who could piss on women, candidates and voters alike.

There is no "answer" for it as long as it is a contest where the privileged have no intention of letting the dominated get a leg up, and where authoritative critical voices fall silent when wrongs are committed. Paul Krugman, I'm sorry to tell you that your willingness to push aside all the unpleasantness for the sake of winning the election, lecturing Hillary voters, us bitter knitters, to not go away mad just because we've been threatened with rape, murder, beatings and torture if we don't ditch that bitch and vote for The Precious has materially harmed women. You should have been screaming every day about how Obama had better put Hillary on the ticket or else watch half the party walk off, encouraging people to be angry over being treated with contempt instead of meekly getting the scraps from the table. Maybe if someone of your stature took seriously that treating women badly to their faces means treating them badly in social policy - the kinds of policies I have reason to believe you support - we'd have a hope of moving Obama out of his neo-Reaganite position and slightly towards something that moves the country towards the left.

Changing the subject doesn't change the situation.

For me, my political calculus has changed. There's never been a chance I would vote for Obama, nor that I would vote for any Republican, and for much the same reason - illiberal, misogynist, classist, and lacking a vision for the construction of progressive state. I also will not be forced out of my party and the institutional power it can command. However, my money will not go to general party funds or to PACs where it might be used to support candidates and party officials who refuse to fight back against misogyny. My votes will only go to women from now on. Male Democrats are going to have earn back my support by performing public, material acts to counter misogyny, such as promoting the ERA again, defending women's reproductive choices, passing UHC, which is of greatest importance to women with dependent children and no employer-based insurance, raising the minimum wage which affects women's job categories the most, defending Social Security, and supporting GLBT rights.

The lady killers are no more and no less than the racists of the Left, and should be treated as such.

Anglachel

Note - A few edits throughout to correct formatting problems and correct grammar. Reference to Annie Liebovitz's book added.

Tuesday, October 14, 2008

Wildfire Season in San Diego

Crap, wildfire season is upon us in San Diego. We've got hot, dry and windy conditions, though not as bad as LA.

I don't live in a fire area but a number of people I work with do. With luck, we'll just get a few of these small fires and not the huge blazes like last year.

Anglachel

Monday, October 13, 2008

Here Comes the Sun

Courtesy of Big Picture at the Boston Globe, here is a collection of 21 spectacular photos of the sun:

The Sun

They are incredible. I especially like photos number 1, 7, 11, 16, 17 and 19. A link in the comments led to this page, High resolution image of solar corona, which shows the moon in full eclipse of the sun. You can see the details of the moon and the corona.

Anglachel

Congratulations, Oh Shrill One!

Congratulations to Paul Krugman on winning the Nobel Prize in Economics!

Anglachel

Sunday, October 12, 2008

A Bitter Pill

This post has been stewing a few days while I waited for the Senate web site to get its brains unscrambled, but it looks like that won't happen anytime soon.

Senators Hillary Rodham Clinton (NY) and Patty Murray (WA) have been at the forefront of a battle with the Secretary of HHS, Michael O. Leavitt, to prevent the Bush adminsitration from categorizing contraceptive pills and IUDs as abortifacients. Melissa McEwan wrote this up on Shakesville in July. Hillary co-wrote an op-ed for the NYT on this matter, Blocking Care for Women.

Sens. Clinton and Murray on July 16, 2008
Sens. Clinton and Murray on September 23, 2008

A few days ago, French Doc posted Punishing The Poorest Women, which uses a Nicholas Kristof column to talk about what the deliberate refusal of the Bush administration to provide effective contraception means to the poorest and most vulnerable people in these societies - more impoverishment, worse health, sick children and increases in infant and maternal death.

Oral contraceptives are the single most socially transformative invention of the 20th century, something that fundamentally altered how half of the species could act in the world. Women could now control their fertility with a great degreee of precision and without the assitance of men. Until this invention, all forms of contraception had to be some type of barrier method - a condom, a diaphragm, a cervical cap - or else sterilization. (I set aside IUDs for now, but consider them a variation on a barrier) If the barrier wasn't present, pregnancy could take place. Barriers were prone to high rates of failure, condoms required the cooperation of the male, and all required planning. With the pill, women could proactively protect themselves from pregnancy and could regulate their occurance with a minimum of effort.

The pill removed male agency and control from reproduction in a way no other contraceptive ever could. It was a direct assault on the male privilege of impregnating (and incapacitating) women as it suited them, and using the threat of rape and unsanctioned pregnancy to profoundly limit where women could go and what they could do. In the absence of modern medicine, every pregnancy was a life threatening event, and the most common cause of death for a fertile women. It also removed a great deal of power over lower status men who could now engage in sex without the fear of "ruining" a woman or having to forego sexual activity until they were able to afford a wife and children.

The social conservative assault on women has focused on reproduction because it is pivotal in controlling female behavior. The political conservative attack on reproduction also wants to control female behavior, but is more interested in this as a wedge agisnt the formation of privacy rights for anyone. See my posts Privacy and Privacy Rights and Equal Treatment for my extended argument about the attack on privacy by the Right.

What I realized as I read French Doc's post and thought about Hillary and Sen. Murray's fight to make Sec. Leavitt back down (and I give a shout out to their defense of Plan B, too), is that the life I lead could not have occurred without that medication. I recently went off the pill, and the mental shock of knowing that I am now vulnerable to an unplanned pregnancy was greater than I had expected. I now know what pharmacies in the area stock Plan B and who is open 24 hours. When I read about Gov. Palin's youngest child having Down Syndrome, I realized that was something that could happen should I get pregnant. With the financial meltdown, I've spent some hours figuring out "What if..." scenarios should this or that calamity befall us, and I have to factor in an unplanned pregnancy as a possibility. It has made me focus on who is defending my rights.

What makes this a bitter reflection is that I do not hear the senators' defense coming from the mouths of the Party leadership. I hear general blandishments about a woman's right to chose, but not a rigorous defense of the right to contraception in the first place. Before this election season, I would have said that the Democratic Party was sqaurely behind women's rights, but given the misogyny and the kinds of assaults aimed at first Hillary and then Gov. Palin specifically about their sexuality, fecundity, and what their sexual histories "said" about them, I have lost most of that certainty.

Are women's reproductive rights going to be one of those subjects, like gay rights, the Unity Democrats are going to be all bi-partisan about? Maybe keeping the foreign policy stuff in place to placate the Right because it's only poor black and brown women in distant places who will die as a consequence? Maybe rescind requirements that insurance policies have to cover hormonal contraceptives, and state they cannot be used to cover Plan B at all, as a way to get some bipartisan support for health care? Allow conscience clauses everywhere to prevent pharmacists from having to provide this medication to any women? There are a lot of ways to effectively remove a right that fall short of legally dissolving it.

I have no confidence that men on the Left are interested in defending women's rights, starting first and foremost with the right to control their own fertility without unjust burdens and barriers. I will be blogging more on the political uses of misogyny over the next few days.

Anglachel

Krugman on Brown and Paulson

I got the Monday column a little early. The Krug is enthused about the measures PM Gordon Brown is taking for the UK and wonders why our government can't get its act together. He has a very nice summation of why the bursting housing bubble is causing such widespread damage:

What is the nature of the crisis? The details can be insanely complex, but the basics are fairly simple. The bursting of the housing bubble has led to large losses for anyone who bought assets backed by mortgage payments; these losses have left many financial institutions with too much debt and too little capital to provide the credit the economy needs; troubled financial institutions have tried to meet their debts and increase their capital by selling assets, but this has driven asset prices down, reducing their capital even further.

Short and sweet. He then explains why HOLC/HOME alone cannot get us out of this pickle:

What can be done to stem the crisis? Aid to homeowners, though desirable, can’t prevent large losses on bad loans, and in any case will take effect too slowly to help in the current panic. The natural thing to do, then — and the solution adopted in many previous financial crises — is to deal with the problem of inadequate financial capital by having governments provide financial institutions with more capital in return for a share of ownership.

So, fast action by pumping in capital with strings attached to get the banks ready to begin cleaning out the Augean Stables of their mortage realted activities. In my opinion, the only reason to buy the actual assets is to stitch mortgages back together from the securities and make the speculators eat the loss when HOLC/HOME gets underway.

My suggestion is that the mortgages that get written down are flagged in some way such that if the property is sold prior to the end of the mortgage, the government gets to take any appreciation on the house up to the amount of the original loan that got the lender in such trouble. Why, especially if the loan has been renegotiated? To address moral hazard and prevent profiteering. You have to hold the asset full term or else you pay a big penalty on profits, kinda like a 401(k). By making it end with the completion of the contract, you enable to owner to pass on the increased value to the next generation or reap the benefits of their own patience. Thus, wealth building without rewarding bad behavior.

Back to Krugman. He talks about what Gordon Brown is doing (go read the piece, it's got a lot of interesting observations) and then hauls up Hanky Panky Paulson for some general slapping:

As I said, we still don’t know whether these moves will work. But policy is, finally, being driven by a clear view of what needs to be done. Which raises the question, why did that clear view have to come from London rather than Washington?

It’s hard to avoid the sense that Mr. Paulson’s initial response was distorted by ideology. Remember, he works for an administration whose philosophy of government can be summed up as “private good, public bad,” which must have made it hard to face up to the need for partial government ownership of the financial sector.

I also wonder how much the Femafication of government under President Bush contributed to Mr. Paulson’s fumble. All across the executive branch, knowledgeable professionals have been driven out; there may not have been anyone left at Treasury with the stature and background to tell Mr. Paulson that he wasn’t making sense.

I think that's a pretty good bet. Incompetance rising to the highest level concomitant with complete devotion to the greed mentality of the Bushies. But I think there's another reason running around here which is the desire to shit the bed so badly that nothing can make it useable again. The more I look at the Hanky Panky, particularly with the more recent rumors that Paulson will not buy preferred shares when injecting capital, wanting to give his Merry Bankster buddies all the money and none of the accountability, the more I think this cannot be by accident. This is about leaving a broken and bankrupt system behind with the government's hands tied.

You don't have to be smart to be vindictive.

Anglachel

Saturday, October 11, 2008

More Evidence on Fannie and Freddy

From McClatchy, one of the few new organizations left that doesn't just guzzle whatever kool-aide the Very Serious People hand them, a nice smack down of the Movement Conservative argument that its all those dark-skinned poor people who are responsible for the financial crisis because of their bad home loans:

As the economy worsens and Election Day approaches, a conservative campaign that blames the global financial crisis on a government push to make housing more affordable to lower-class Americans has taken off on talk radio and e-mail.

Commentators say that's what triggered the stock market meltdown and the freeze on credit. They've specifically targeted the mortgage finance giants Fannie Mae and Freddie Mac, which the federal government seized on Sept. 6, contending that lending to poor and minority Americans caused Fannie's and Freddie's financial problems.

Federal housing data reveal that the charges aren't true, and that the private sector, not the government or government-backed companies, was behind the soaring subprime lending at the core of the crisis.

Subprime lending offered high-cost loans to the weakest borrowers during the housing boom that lasted from 2001 to 2007. Subprime lending was at its height vrom [sic] 2004 to 2006.

What is most notable about this news article is that it states clearly in the first sentence that this line of argument is coming from conservative quarters. No vague "some economic commenters" language; they put it right where it belongs, as a conservative red herring intended to undermine both attempts to regulate financial services and attempts to provide financial services on decent terms to lower income consumers and communities. Then the author does some analysis if the factual basis of the conservative claims and finds them grasping at straws.

Fannie, the Federal National Mortgage Association, and Freddie, the Federal Home Loan Mortgage Corp., don't lend money, to minorities or anyone else, however. They purchase loans from the private lenders who actually underwrite the loans.

It's a process called securitization, and by passing on the loans, banks have more capital on hand so they can lend even more.

This much is true. In an effort to promote affordable home ownership for minorities and rural whites, the Department of Housing and Urban Development set targets for Fannie and Freddie in 1992 to purchase low-income loans for sale into the secondary market that eventually reached this number: 52 percent of loans given to low-to moderate-income families.

To be sure, encouraging lower-income Americans to become homeowners gave unsophisticated borrowers and unscrupulous lenders and mortgage brokers more chances to turn dreams of homeownership in nightmares.

But these loans, and those to low- and moderate-income families represent a small portion of overall lending. And at the height of the housing boom in 2005 and 2006, Republicans and their party's standard bearer, President Bush, didn't criticize any sort of lending, frequently boasting that they were presiding over the highest-ever rates of U.S. homeownership.

Yes, there is a risk with low income borrowers. It's not like credit isn't extended to them now - it just done so under usurious terms and with a cynical hope to catch the borrowers in a cycle of debt peonage. This never gets mentioned in the conservative critique. They want to attach the act of low-income lending to a stigmatized class as a way of damaging the ability of liberal legislators and financial bureaucrats (yes, yes, precious few of any them, but they do exist) to proactively use government power to reduce barriers to wealth accumulation to previously excluded groups. They talk about individuals as credit risks, but quickly move over to condemning entire classes of people. Sadly for them, there is no conenction between their claims and the facts on the ground:

Conservative critics also blame the subprime lending mess on the Community Reinvestment Act, a 31-year-old law aimed at freeing credit for underserved neighborhoods.

...[O]nly commercial banks and thrifts must follow CRA rules. The investment banks don't, nor did the now-bankrupt non-bank lenders such as New Century Financial Corp. and Ameriquest that underwrote most of the subprime loans.

These private non-bank lenders enjoyed a regulatory gap, allowing them to be regulated by 50 different state banking supervisors instead of the federal government. And mortgage brokers, who also weren't subject to federal regulation or the CRA, originated most of the subprime loans.

In a speech last March, Janet Yellen, the president of the Federal Reserve Bank of San Francisco, debunked the notion that the push for affordable housing created today's problems.

"Most of the loans made by depository institutions examined under the CRA have not been higher-priced loans," she said. "The CRA has increased the volume of responsible lending to low- and moderate-income households."

The reason I am pushing this issue is because the ability to cut off credit on reasonable terms to classes of people is part of the larger Movement Conservatives' war on the social safety net as such. The people most hurt by this are poor and working class women and their dependent children, regardless of color.

If you want to fight the creeping fascism of the Right, then you must undermine their attempt to wrap questions of power and socio-economic resources in mantles of class resentment and racial bigotry, not just wail that we'd better vote Obama or else.

Anglachel

What Falstaff Said

Falstaff says several things I've been trying to say, but does so more directly and succinctly (my emphasis):
Isn’t it remarkable, at this late date… after more than a year of candidacy, and four years in the public eye… after a primary that attracted more attention than any in our lifetime… after the eruption of issues of unprecedented urgency, scale and consequence, which are assaulting us every day – or hour… isn’t it remarkable that there continues to be no substantive case for Barack Obama’s prospective presidency?

Isn’t it remarkable that Obama’s supporters, after all this time, cannot come up with a serious argument for why he should be president, other than (a) the other guy’s awful and scary and (b) we have to throw the Republicans out (or, at best, he’ll hire better advisors)? ...

Press them for a single respect in which he has shown actual substantive and innovative thinking and leadership… or for a coherent policy frame that makes sense of his FISA vote, his D.C. gun control statement, his position on the death penalty, his Harry and Louse ads and on and on… and they resort to one of the responses above. It’s all horserace, all GOP-directed schadenfreude, all Palin snark, all ohmygod apocalysm about a possible McCain win, all the time.

Don’t get me wrong. Obama is going to win. The American people are going to throw these Repubums out. We are going to recreate the political conditions of 1932… whether or not we have an FDR to fill that role.

But wouldn’t you think that, given the foregone conclusion we face... and given the pressing urgency of making the right decisions about economic policy -- with material consequences for all our lives, including those of these interlocutors – wouldn’t you think that other conversations would be happening? Is it just too scary these days to think? Are we down to nothing but repeating “hope” and “change”?
Where Obama falls down, where he has always fallen down, is on "that vision thing", a clear statement of what it is he intends to do once he gets into office. He is very deeply into getting himself elected and into creating structures to cement his hold on power, but there just isn't any political vision or passion driving him. His advisors all have their own agendas, to be sure, but I still have yet to hear of a purpose or cause that dirves this guy beyond promoting himself.

The problem is that the times both call for and reward a bold, decisive leader. I'll be honest and say that even Hillary doesn't measure up to what my perfect Dem president would be, but I'm also not sure that creature exists. We haven't had a leader like that since LBJ, and he was far from perfect, but he had the key combination of faith in (dirty, flawed, partisan, wheeling & dealing) government and a willingness to do what was necessary, the nattering nabobs of negativity be damned.

In Obama, I see someone willing to bargain away all benefits to the ordinary citizen in order to maintain his approval with The Village.

Anglachel

Senate Website Appears to be Down

I've been trying to get to various senatorial web sites since last night and the server cranks but doesn't render pages.

Don't go all tin-foil hat. The middleware is ColdFusion and they probably have a run away process somewhere that is eating up all the CPU, preventing the server from delivering content.

Anglachel

Friday, October 10, 2008

Economics Humor

Courtesy of the BBC:

Following the problems in the sub-prime lending market in America and the run on Northern Rock in the UK, uncertainty has now hit Japan. In the last 7 days Origami Bank has folded, Sumo Bank has gone belly up and Bonsai Bank announced plans to cut some of its branches. Yesterday, it was announced that Karaoke Bank is up for sale and will likely go for a song while today shares in Kamikaze Bank were suspended after they nose-dived. While Samurai Bank are soldiering on following sharp cutbacks, Ninja Bank are reported to have taken a hit, but they remain in the black. Furthermore, 500 staff at Karate Bank got the chop and analysts report that there is something fishy going on at Sushi Bank where it is feared that staff may get a raw deal.
Emma Ives, Dorking, Surrey, UK

If you had purchased $1000.00 of Nortel stock one year ago, it would now be worth $49.00. With Enron, you would have $16.50 left of the original $1000. With WorldCom, you would have less than $5.00 left. If you had purchased $1000.00 of Delta Air Lines stock you would have $49.00 left. If you had purchased United Airlines, you would have nothing left. But, if you had purchased $1000.00 worth of beer one year ago, drank all the beer, and then turned in the cans for recycling, you would have $214.00. Based on the above, the best current investment advice is to drink heavily and recycle. This is called the 401-Keg Plan.
Daniel, Calgary, Canada