The End of American Hegemony?

Reading Time: 2 minutes At TruthDig, Chris Hedges, playing off an economist’s piece in the Financial Times, posits a dire future based on the collapse of the dollar, largely on account of the humongous military budget’s role in ballooning the deficit. The article, typically lively and controversial Hedges fare, is worth reading for its analysis, as are Hedges’s comments Read More

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IRE

Reading Time: < 1 minute Russ has been busy the past couple of days at the Investigative Reporters and Editors (IRE) conference in Baltimore. Today he will lead a panel on book writing and freelancing aimed at investigative reporters in career transition, due to the current instability in the media environment. Russ and I are both card-carrying members of IRE, Read More

Russ on GRITtv

Reading Time: < 1 minute Russ was recently on Laura Flanders’s GRITtv to discuss Sonia Sotomayor’s nomination, the Tiller murder, Obama’s Middle East speech, and the upcoming Reagan centennial. Here’s Russ on the public controversies surrounding Sotomayor: I think most of these [accusations against Sotomayor] are what I would call misdirection. It’s an attempt to focus the public’s eye away Read More

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A Word to the Worried: the Future of Journalism

Reading Time: 2 minutes Those of us in journalism pretty much know the extent to which our field is being decimated by the simultaneous unraveling of the economy and of the journalistic business model. Still, Barbara Ehrenreich’s commencement address at UC Berkeley’s Graduate School of Journalism is well worth reading. The dean gave me some very strict instructions about Read More

The Charity of Lobbyists

Reading Time: 2 minutes USA Today published a thorough investigation of the donations lobbyists pour into the favorite non-profits of Congressmen to gain influence and buy face time at charity events. Only since 2007, when congressional ethics rules were changed, has such beneficence had to be reported. The article shows that the reform didn’t come soon enough, since the Read More

Citigroup’s Bogus Profits

Reading Time: 2 minutes Remember how Citigroup’s reported $1.6 billion first-quarter profits sparked a rally in financial stocks? Martin Weiss of Weiss Research Inc. thinks Citigroup really suffered a $2.5 billion loss: Citigroup’s $1.6 billion in first-quarter profit would vanish if accounting were more stringent, says Martin Weiss of Weiss Research Inc. in Jupiter, Florida. “The big banks’ profits Read More

A Tale of Two Men-on-the-street Pieces

Reading Time: 2 minutes The Los Angeles Times reports today that the majority of people in Florence, Colorado, do not mind terrorist suspects being moved from Guantánamo to the nearby federal “supermax” prison: The Senate last week overwhelmingly rejected providing funds to close the U.S. military prison in Cuba, saying that no community in America would want terrorism suspects Read More

Moral Hazard, Fed Style

Reading Time: 2 minutes How exactly did the Federal Reserve gain the emergency authority to loan more than $1 trillion of taxpayer money to the banks secretly and without oversight? The Washington Post explains today in a long investigative piece by Binyamin Appelbaum and Neil Irwin. As it turns out, Sen. Chris Dodd slipped the necessary language into an Read More

A Muppet In President Obama's Court

Reading Time: 2 minutes Sonia Sotomayor is not the only recent Obama appointment. She may be the most significant pick, but she is hardly the most intriguing. To wit, I direct your attention to a short Associated Press item, which appeared in papers including the New York Times, about some of President Obama’s recent ambassadorial appointments: President Obama has Read More