Blue City Down; Blue State Down

The NY Times has a history of the decline of Detroit which describes decades of poor government while failing to note that this is a story of one party rule by the Democrats.

They also play 'Guess The Party' in their coverage of a recent SEC accusation that the State of Illinois committed fraud. This is the closest they come to covering the partisan turf:

For the second time in history, federal regulators have accused an American state of securities fraud, finding that Illinois misled investors about the condition of its public pension system from 2005 to 2009.

In announcing a settlement with the state on Monday, the Securities and Exchange Commission accused Illinois of claiming that it had been properly funding public workers’ retirement plans when it had not. In particular, it cited the period from 2005 to 2009, when Illinois also issued $2.2 billion in bonds.

...

The charges put the state’s pension system, generally thought to be the weakest of any state, back in the national spotlight. In his budget address last week, Gov. Pat Quinn, a Democrat, issued a clear warning that the system had to be fixed.

Huh? Surely they have more?  Well, there is this:

By 2003, the state was so far behind that it issued $10 billion of bonds and put the proceeds into its pension funds to make them look flush. The main underwriter of those bonds, Bear Stearns, was later found to have made an improper payment to win the business, figuring in the corruption trial of a former governor, Rod R. Blagojevich.

Well, folks may recall that Blago was famously involved in trying to sell the appointment to Obama's Senate seat, vacated as of Jasnuary 2009. But lest you wonder, he is a Democrat, and was governor during the time period cited by the SEC.

 

Comments

[NK]

If this were an old fashioned Boxing Match, under NYS Boxing Commission rules, the fight would have been stopped long ago, and the TomM awarded a TKO against the NYT. I guess, since we are now in the age of the 'Octagon' and MMA cage fighting, TomM will have to continue stomping the NYT until it is dead or at least unconscious. That's fine with me... but it is messy.

[NK]

PS: I long for the day TomM runs a post titled "Gray Lady Down-- Permanently" .

[henry]

Bread and Circuses NK. Besides, a zombie (which is what the OPM cult is filled with) is already dead and re-killing it could result in the infection of bystanders (the apparent goal of the left these days).

[Thomas Collins]

NK, with TM we get the "best" of the NY Times plus commentary! For free! No paywall!

As to Illinois, if Obama gets a Dem House and keeps a Dem Senate in 2014, look for the Mother of Blue Bailouts.

[matt]

Al Jazeera is looking at the old NYT HQ on 42nd Street as their new HQ. If they wait a year they may be able to buy the new one for a dime on the dollar.

[NK]

'look for' Blue Bailouts? isn't Illinois's share of the great BenB ZIRPscapade bailout enough?

TC Wait?-- you actually read TomM's links to the NYT articles? wow. Back in the day you must have read the actual articles in Playboy Mag.

[Gus]

Illinois MICRO. U.S.A MACRO.
We have had 4 years of Obama, and we have had 6 TRILLLLLLLLLLLLLLLLLLLLLLLLION in borrowing and spending. SIX MUTHERFUXING TRILLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLLION. Yet to cut 85 BILLLLLLION would cause havoc.
Obama's own idea of cutting 85 BILLLLION is sold as a GOP PLOT TO KILL GRANNIE,.

[narciso]

Well it's like hollowing out Tauntaun entrails, someone has to do it.

[Thomas Collins]

"articles in Playboy Mag."

Articles? I thought it was all updates on Dave Brubeck's doings and . . . .

[NK]

TC-- so you did actually READ PB...

[narciso]

No, it's much like Highlander 'there can be only one', With all of the power that Carlos Slim's 'fully operational' tax loss, vs. one lone blogger,

[NK]

"fully operational tax loss" heh, heh...

well that one turned out OK for the insurgents against the empire...

[bgates]

That was balanced.

If they wanted to be partisan, they would have called him

Rod

Blagojevich.

(Honestly, have you ever seen the middle initial before? Is there another reason to show it now?)

[NK]

"R...R... blagojevich", sounds like a speech impediment.

[Threadkiller]

http://illinoispaytoplay.com/2013/03/09/why-no-grand-jury-chicago-tribune-reporter-john-chase-involved-in-a-crime-again/

[Thomas Collins]

Only to keep up on Brubeck, NK. And to keep up on Jimmy Carter's lusts!

[Ignatz Ratzkywatzky]

It is easy to place all the blame on poor city government in Detroit and it certainly deserves its share.
But let's not forget the contribution of the private sector unions in squeezing every last drop out of the auto companies and the attendant decline in vitality of Detroit's private economy as well.

It takes a village to raze a city.

[NK]

Ig-- fair enough Ig-- all the usual Blue Suspects pitched in to murder Detroit, and Camden, and Gary In., St Louis and Newark, and Bridgeport and so on and so on...

[jimmyk]

But let's not forget the contribution of the private sector unions in squeezing every last drop out of the auto companies and the attendant decline in vitality of Detroit's private economy as well.

I think the Feds' social engineering (CAFE requirements, most notably), contributed as well. The auto manufacturers likely would have declined anyway, but they could have stayed profitable, producing what they relatively good at, instead of having to compete head to head with the Japanese.

[Melinda Romanoff]

Ig & jimmyk-

In short, and in fishing vernacular, the victim suffered multiple, mortal lamprey attacks.

[NK]

The pro-Jihad anti-semitism of the Left in full flower: http://sanfrancisco.cbslocal.com/2013/03/11/killing-jews-is-worship-ad-campaign-rolled-out-on-sf-buses/2/

[narciso]

Madame Heinz's work is tireless.

http://watchdog.org/72855/tides-uses-tax-dollars-to-turn-america-to-the-left/

[PD Shaw]

The Illinois Republican Party made a complaint to the SEC in 2005 that the state was misleading investors. The NY Times didn't report that presumably because the SEC didn't tell them to report it.

[NK]

..and thanks to Buffet's generous takeover offer, she'll have far more to work with.

[narciso]

He's as much a puppet as we suspected;

http://www.nationalreview.com/corner/342782/duty-jay-nordlinger

[Ignatz Ratzkywatzky]

-- The auto manufacturers likely would have declined anyway, but they could have stayed profitable, producing what they relatively good at, instead of having to compete head to head with the Japanese.--

Partly true, jimmy, but the reason small cars are unprofitable to Detroit is because those are the narrow margin cars were labor costs are the very thing which make them unprofitable.

[NK]

'Labor Costs' -- at this point that mostly means the Legacy costs for retired workers. Singlepayer is a priority for Ford/GM/Chrysler, as it shifts those costs to the rest of us.

[narciso]

'Dialing right to 12'

http://www.americanthinker.com/2013/03/obama_to_nominate_sharia_supporter_illegal_immigrant_advocate_as_labor_secretary.html

[Danube of Thought iPad]

In medical terms, the patient failed to live up to its wellness potential.

[Ignatz Ratzkywatzky]

--Madame Heinz's work is tireless.--

Somebody remind me why there are 501(c)anything.

[Bill in AZ]

Somebody remind me why there are 501(c)anything.
err... ahem... search and rescue... :)

[narciso]

there are supposed to be guidelines, as to what constitutes partisan political activity and non profits, but clearly MMFA has blown through those like the Tornado in the Wizard.

[RichatUF]

Watching for smoke! Crummy day. But might have some time off so there is that.

Big surprise on the SCE invesstigation. Maybe a tarp sized bailout to pay out all the promises is in the works.

[Sue]

Black smoke.

[Danube of Thought iPad]

Good news:

"Defense Secretary Chuck Hagel has ordered the military to stop production of a controversial new medal pending a 30-day study of whether the award for drone pilots and cyberwarriors should outrank medals given for battlefield bravery."

[RichatUF]

No Pope.

[Ignatz Ratzkywatzky]

Useful things will be funded without tax advantages.

Under what enumerated power in the constitution does the federal government decide what things are useful and should be used by one citizen to shift his tax burden to someone else?
Eliminate non profits and the inheritance tax and a good portion of the left's power dies and the country will find, surprisingly enough, actual good works still get done.

[narciso]

Well if 'all doubt is removed'

http://freebeacon.com/elizabeth-warren-literally-runs-away-from-reporters/

[Ignatz Ratzkywatzky]

I'm willing to bet a significant amount of the opposition to that medal comes from the drone operators themselves.
Nobody I know of appreciates actual battlefield veterans as much as non combat ones.

[Ignatz Ratzkywatzky]

In rereading that first sentence it would have benefited greatly from inserting a "that" between "bet" and "a". :)

[RichatUF]

IIRC there are a number of medals that currently exist which would cover their actions. And for exceptional work, a bronze star (without V device) could be awarded. Seems odd that it was being sneaked through.

[RichatUF]

Eliminate non profits and the inheritance tax and a good portion of the left's power dies and the country will find, surprisingly enough, actual good works still get done.

Lets get rse on it straightaway.

[Thomas Collins]

Whoops! My prediction of a first ballot Pope goes up in smoke. At least Pope TC is still a possibility!

[RichatUF]

Your Holiness Thomas Collins.

[RichatUF]

Depressing looking over the Drudge frontpage and atching the news. I have spring break this week and feel like I've wasted the last 2 days.

[daddy]

Speaking of Detroit Michigan being flat broke, while drinking a beer last night I read the label on the bottle, and discovered that if you turned the bottle back in in IA, CT, HI, MA, ME, NY, or VT you get a 5 Cent Refund, but if you turn the bottle in in MI (Michigan) you get a 10 Cent Refund.

How can dead broke Michigan afford to give an extra nickel for an empty beer bottle over the all those other states?

Ultimately tho' I suppose all the blame should rightly go to John Quincy Adams. In @1804, while a Senator from Massachusetts and Thomas Jefferson was President, just look at the trouble he caused. From my current book:

John Quincy even aroused the ire of his Chess Playing mate, Secretary of State Madison, by opposing a new Treaty with Britain fixing the boundary between Canada and the United States from the Great Lakes to the Pacific Ocean. Left open by the 1783 Treaty of Peace ending the Revolutionary War , the line, by convention, had run along the 49th Parallel. Madison's Treaty would have dropped it southward and ceded Britain a strip of land about 150 miles wide, including Lake of the Woods in northern Minnesota and Puget Sound in northwestern Washington. Adams roared his opposition and cowed the Senate into rejecting the Treaty, leaving the lands in the so-called Adams Strip in the United States.

So if it wasn't for John Quincy Adams Detroit would belong to the Canucks and it'd be their problem:(

[narciso]

Here is the new Trek trailer,

http://www.youtube.com/watch?v=RxZcxkFZZP0

[Thomas Collins]

Would you like encouragement either to relax totally or to crack open the econ book over spring break, Rich? How about both? A brisk walk to relax, and then view the econ book as a puzzle to figure out?

I know it's easy to give advice from afar, but I often find a brisk walk puts me in a better mood to focus on whatever task I have at hand.

[Melinda Romanoff]

daddy-

That's one slice of history, how the US got the Mesabi Peninsula is another good one.

[jimmyk]

Daddy, if my geography is right, I think we still would have Detroit, but would have lost Seattle. Microsoft would be a Canadian operation.

Why would Madison have wanted to give that away, anyway? (And what are you reading?)

[narciso]

Well we would have held it, after Polk;s negotiations, 54;40, but it would have taken about 40 years longer, so is the Dispatch, a subsidiary of the CSM, it seems that way, lately;

IF I had any interest, in this film, which I didn't really, this 'toad the wet sprocket'

http://blogs.wsj.com/speakeasy/2013/03/12/if-ashley-judd-runs-for-senate-shes-got-her-directors-vote/?mod=WSJBlog

[Melinda Romanoff]

Also known as the Northwest Angle.

Something about ore, I recall?

[RichatUF]

Thanks Thomas. A walk would do me some good. And getting out of my own way would do me some good too.

[matt]

Much of the history of Detroit is the history of fat & happy auto makers and fat & happy unions. Bloated, inefficient, and poor quality cars poured off the lines for 30 years before the oil crisis and the competition caught up.

Today's Detroit is a perfect example of self inflicted wounds by Big America; Unions, Corporations, and Government.

The efficient machines and systems that Ford and GM and Chrysler & Packard and the others built up and which carried us through WW II were torn apart by people like McNamara and the UAW.

[Melinda Romanoff]

jimmyk & NK-

Something nice from Vandy for Nyers.

[Jim Eagle]

Mel,

The Iron Range. Many a taconite plant there.

daddy,

It isn't because Michigan sells the most beer per capita either. Not even in the top 10. New Hampshire leads the way with 43 gals/per person/per year. Link

[Melinda Romanoff]

JiB-

That peninsula is the quirky one.

[NK]

MelR-- cute story, thanks. good to see a guy who's been a celeb virtually his entire adult life can actually interact with us peasants. I 'kinda' met Billy Joel once. In Fall 1976 he had a gig in the campus gym. The warm up act was about done, 5,000 people were in the gym and no Billy. The football team had a lock on the yellow shirt concert security detail, me and another scrub were low men on the totem poll so the campus concert manager ordered to go out to the parking lot and check on Billy's car. he was in there, with his then wife/manager, and they were ..er... sharing a moment. My buddy tapped on the driver side window, Billy yelled just a minute. And back into the gym we went. Billy put on a great show that night.. er...the concert I mean.

[Melinda Romanoff]

I grew up with his "Road Manager". Stories of Christie were "interesting".

[NK]

MelR-- I knew somehow we had a 1970s connection!

[Melinda Romanoff]

Awesome VDH today.

At PJ Media here.

[rse]

Rich-

looking to give me another assignment?

I have spent the day reading bad ideas that will not work but are influential nonetheless.

I have noticed we are not supposed to use Adolph as an example even when it is apt but Albert Speer gets trotted out regularly as the role model for educating the intellect but not values.

And I have read so many quotes from Clinton's former Secretary of Labor that make me want to gag that I am just using his initials and substituting the rodent. Having lived at taxpayer expense your adult life makes me not want to hear fantasies about how economies might work. If we coulf just change people.

[Jim Eagle]

Mel,

Thanks for the Michael Pollock/Billy Joel link. Billy used to have a house in Southampton but after he and Christie divorced he gave it up. He used to do impromtu sets at the old Post House but I never got the chance to see one but friends of mine there have seen him. What a terrific gesture and I think the kid plays even better than Billy did at that age.

Not bad for a guy from Hicksville.

[narciso]

I would say it's the former;

http://accordingtohoyt.com/2013/03/11/malice-or-incompetence/

although in practice it looks like the latter.

[Rob Crawford]

Narciso -- malice or incompetence?

[NK]

JiB-- and don't forget Billy's heart felt baymen song. PS: I never did ask you, did you ever meet Jeff Keil from over in Easthampton?

[Dave (in MA)]

I don't know if non-FB users can see this, but here's a bunch of people at Deval Patrick's rally to support raising taxes on working people. Just the kind of people you'd expect to see, in the middle of the afternoon on a workday.

And here they are handing out "homemade" signs for the rally.

[RichatUF nee GMU]

rse-

looking to give me another assignment?

Just a discounted copy of the first run of your book. IIRC a lot of the bad ideas are funding through a patchwork of foundations, which in turn, get government money to produce reports that government bureaucrats then use to justify their own jobs. I think quango (quandocracy) is used to describe it. Makes Iggy's idea not such a bad one.

[Jim Eagle]

When "balanced" like in budgets doesn't mean "balanced" but rather "unbalanced" like in Obama's budget.

Jay "The Pretzel" Carney explains:)

[Dave (in MA)]

I guess you need to hit the right arrow when that first link comes up.

[Agent J]

Posted on the tail end of the last thread. for those of you that don't go back an read, this is for you!

To all of you that acknowledged my "ancient" BD, (77) thank you. Also wish to thank those of you that commented about my post..

I am current half way through cataract surgery. The experience of trying to see in between eyes operations is just that, trying..I can see excellent out of my right eye at a distance without glass's, up close nothing works,the left eye meantime is messed up with or without glasses.. March 28th I get the left eye done, then I can function with reading glasses..Now I am limited driving, reading etc..

I have stated that everything has to be corrected by June 1, so I can began traveling.

Again thanks to all..

[Dave (in MA)]

No, left. I'll get it right eventually.

[DrJ]

Agent J,

Belated happy birthday!

then I can function with reading glasses.

On the cataracts, been there and done that a decade ago, even though I'm over 20 years your junior. I too had my eyes set to focus to infinity so that I wouldn't need glasses to see distances. You don't realize how many activities you do in the near field. Were I to do it again I might set two different focal lengths.

So get ready to have multiple-strength reading glasses. I have one set for working at the computer, another for reading (which is closer) and yet another for very up-close detail work.

One does get used to it after a while, but get ready for the glasses shuffle!

[Jim Eagle]

NK,

Don't know a Jeff Kell in Easthampton.

BTW, my aunt was from Easthampton, she was a Tiffany and a Wellsley graduate. Not THE Tiffanys but related. Don't know many Bonackers.

[RichatUF]

Agent J-

Not old at all. And my belated happy birthday wishes. Hope the cataract surgery goes well. My dad had both eyes done and it is great seeing him without glasses. Has taken a bit getting used to since he wore them for so long.

[Jim Eagle]

NK,

Forgot. A guy I know in Amangasset told me that there was a real bay boat named Alexa that was berthed in Montauk. Perhaps that is where he got his inspiration. Ever read Peter Mathiessen's "Men's LIves"? He was a good friend of my Dad's and I have a autographed first edition he inscribed to Dad. Great read about the baymen and surfmen of the South Fork. Those guys are few and far between these days thanks to the enviro's and the leftwing Manhattan escapees.

[NK]

'Men's Lives', if that's the book about surf seining with Model A trucks, yes I did read it about 25 years ago.

PS: I Rake clammed in GSB one summer ('77), does that count me as a Bayman?

[Jim Eagle]

Only if they were scallops:)

[NK]

Nah-- plain ole clams. My back and hands still hurt.

[Danube of Thought iPad]

What still troubles me about that drone medal is that there was apparently not a single soul in the DoD hierarchy with the wit to say simply, "this is a really bad idea," when it seems everyone in America knows that instinctively.

[rse]

Rich-you are right that that is how it was done.

But something I worked on today indicated that our federal dollars are now going to nonprofits who then set up the commissions that produce the reports. I had been watching a particular beneficiary and wondering how they fit in. Honestly had forgotten about it. Followed up on report and who was involved and there was my missing nonprofit essentially behaving like a holding co. Or money laundering conduit.

My posts for the last several weeks have elements I am not writing about that fit into people I wrote about in book. I was not trying to do that went I tracked them down but over and over again there will be an acknowledgment or a footnote or reference and it's like a spotlight goes off. It's not that there was a piece missing. It's just that the now available piece fits along the edges nicely.

Once my children quit popping in for a week and expecting me to primarily be mom, I am going to add a few more details that the blog reading pulled up. It is interesting how stand alone it is though. I guess the book is how we got here via people whose names were well kept secrets and then blog stands alone as to what is going on day to day as this all goes live. The blog was possible because of knowledge from book. The book will be even better from the related aspects now confirmed.

And the blog just started Notebook # 3. Spiral in chronological order with the main points written in red at top right margin for easier reference.

[maryrose]

Happy Birthday AgentJ.! Good luck with your cataract surgery.
Have to wait until tomorrow for the new Pope.
JIB: I took Latin in high school so I am ready for the announcement.

[cathyf]

If anyone is looking for a book recommendation, I'm always pushing this one: Mancur Olson's The Logic Of Collective Action. It explains a lot of things
-- why you don't have enough neighbors with beautiful flowers
-- why OPEC members cheat on each other
-- how adverse selection destroys insurance plans when they are restricted from excluding pre-existing conditions.

The fundamental logic is a piece of self-evidently true game theory known as The Prisoners' Dilemma.

[Gus]

Danube!!! The DRONE medal was created to honor Obama and his HAWKISH devotion to protecting America, and for his love of our Military. Object to his DRONE MEDAL at your own peril.

Btw. I'm not kidding. That is how sycophantic and controlling this admin. is.

[narciso]

I imagine not much imput was accepted;

http://twitchy.com/2013/03/12/awesome-abcs-george-stephanopoulos-asks-for-questions-for-obama-citizens-deliver/

[Janet]

Eliminate non profits and the inheritance tax and a good portion of the left's power dies and the country will find, surprisingly enough, actual good works still get done.

I really agree with this. Cut off their supply lines.

[Extraneus]

Defense Secretary Chuck Hagel has ordered the military to stop production of a controversial new medal

I thought you were kidding about that yesterday.

[maryrose]

cathyf:
I am taking a Microeconomics class and just learned about "The Prisoner's Dilemma"last week. You know how you never hear of something and then all of a sudden it is everywhere. I'll definitely read your book selection and tell my husband about it as well.
Gus: Believe it or not I think that is exactly why this drone medal thing has been suggested. Bammy got burned after the filibuster and now wants to add legitimacy to his drone program. We all know that at heart he is a cold-blooded killer.
Janet: 5 Americans killed in a helicopter crash in Afghanistan. Obama's war of choice. If it happened on President Bush's watch it would lead the evening news. All we hear now is crickets.

[Agent J]

DrJ @4:33.. I am ready for the shuffle..I have had bi focal's, before I went to variables.. As for reading currently it is almost impossible, with or without the surgery or glass. But I will be better in time an I am looking forward to it..

RichatUF @4:35..I have talked to people, or heard so many positive things about this operation..I am supper glad that I have the opportunity to take advantage of it.

As for the "procedure" as they call it, the preparation for it is about 3 times longer then the surgery it self..In my case totally painless, an lacked any discomfort before, after or during..A very pleasant experience. My advise is just don't think about the details of what is happening.

[Janet]

Here ya go (right click) -

[Jim Eagle]

Ah, gee, DoT, even pacifists have earned the Medal of Honor

[maryrose]

Richatuf:
It is spring break and you are allowed to waste time. Good luck in your econ class. Mine is harder than I thought it would be.
I agree with the brisk walk idea. I like a good bike ride as well. As my best friend always says;" You need to blow the stink off"!

[Jim Eagle]

And manning the parapet: Bandit and Jazz!

[maryrose]

Janet: All these people need to get out and find a job. Panera is hiring as is Target.

[maryrose]

JIB:
Can I see a picture of the rest of your porch? The parapet looks lovely.Is it a type of Southern mansion? I love the architecture of the South and their double porches.

[DrJ]

Agent J,

As for reading currently it is almost impossible, with or without the surgery or glass.

Indeed. I was blind for practical purposes before both eyes were bobbed. I may complain about this or that, but the restoration of sight was nothing short of a miracle.

Had I been born a hundred years ago, my productive life would have been over in my early 40s!

And you are right: the procedure is pretty straightforward. Mine was outpatient surgery, and completely painless. Recovery took a while for the first one (that surgeon used an older technique) but the second one was only a couple of days. This is an area where technique matters a lot.

[DrJ]

Oh no!

David and Charles Koch, billionaire industrialists who own Koch Industries, America’s second-largest privately held company, have expressed interest in the Tribune Co. newspapers. The Chicago-based empire emerged from a long bankruptcy Dec. 31 and has hired investment firms Evercore and JPMorgan Chase as offers have come in for its print properties.

That includes the LA Times.

[jimmyk]

Getting back on topic, I'd be very curious how the left can explain the blue hell failures. To us, it's obvious. I'd love for a journalist to ask Barry or any of the leading lights of the left what their alternative explanation is. Bad luck?

[AliceH]

HB, AgentJ!

I have my cataract lens replacement surgery consult on Thursday. I am hoping for a multi-focal replacement lens, but with my astigmatism, will probably need to get the Torus lens thing. But maybe I can get multi-focal replacement lens, and contacts to just fix the astigmatism. I want the vision I used to have, dammit!

All this assuming, of course, the Dr. agrees with me that I'm actually a candidate at all (which is likely, but one never knows).

[RichatUF]

maryrose-

Wow I'm taking micro too! Lets get cathyf and jimmyk as tutors and there is no telling where we'd end up! My test was the day my dad go laid off (actually at the same time) so I was pretty distracted that day (my grade suffered considerably) and for the rest of the week. All that said, I'm doing fairly well for the semester. Where are you taking classes if you don't mind me asking?

DoT-

... not a single soul in the DoD hierarchy with the wit to say simply, "this is a really bad idea,"...

Powerpoint (and award inflation).