Thursday, April 30, 2009

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Weekly Churchgoers Are Down With Obama Top
New information from the latest Gallup Poll shows a majority of weekly Church attendees are happy with the job he's doing. Read below from Gallup: More on Religion
 
Bruce Nilles: 100 Days of Coal Top
As everyone talks about the Obama Administration's first 100 days, I thought I'd join the conversation and give a status report on what they've done to end the use of coal and the destructive practice of mountaintop removal coal mining. The steps taken so far on coal-fired power plants are definitely putting the U.S. on the right track toward clean energy: EPA Opposes Big Stone II Coal Plant in South Dakota : On January 23, the Environmental Protection Agency (EPA) overturned approval of this proposed coal-fired power plant. EPA's decision came after the state failed to require state-of-the-art pollution controls for the coal plant - controls that would address harmful soot, smog and global warming pollution. This decision showed that EPA is back to enforcing long-standing legal requirements fairly and consistently nationwide and that they're concerned about pollution and global warming. A Major Step Toward Regulating CO2 From Coal Plants : On February 17, President Obama's EPA took the first step toward regulating carbon dioxide emissions from coal-fired power plants. EPA, under the new leadership of Administrator Lisa Jackson, granted a petition from the Sierra Club and other groups calling for reconsideration of a memo issued by former EPA Administrator Stephen Johnson which sought to prohibit controls on global warming pollution from coal plants. EPA Calls Global Warming Pollution a Threat On April 17, EPA issued a finding that carbon dioxide and other greenhouse gases represent a significant threat to public health and welfare.  EPA now has both the authority and the obligation to regulate global warming pollution. After this announcement, to continue supporting President Obama's great strides toward a clean energy economy, Sierra Club announced its new Big Picture Campaign. The grassroots effort will generate public comments and support for the numerous administrative findings, rules and regulations expected over the coming months and years. Reevaluating New Source Review Rules : The Obama Administration is signaling clearly this week that it will no longer be business-as-usual for coal-fired power plants. On April 27, EPA announced that it will review three regulations related to power plant emissions . The most important part of these three New Source Review rules is the one saying power plants cannot ignore fine particle/soot anymore. The Bush Administration rule had allowed new plants to avoid any evaluation of fine particle/soot impacts. The Administration is also continuing the Clinton-era national initiative to stop illegal pollution from coal-fired power plants. Already it has filed suits against the Big Cajun 2 coal-fired power plant in Louisiana, and the Jeffrey Energy Center in Kansas to hold the plants accountable for operating without modern pollution controls to limit soot and smog, which can worsen asthma, increase the risk of respiratory illness and heart attack and even lead to premature death.  Both coal plants failed to upgrade their pollution controls when they upgraded the rest of their facilities as required under the New Source Review provision of the Clean Air Act. While these are positive moves toward clean energy, they certainly don't mean coal is out of the picture yet - and especially not mountaintop removal coal mining. To be clear, the Obama Administration has not yet filled leadership positions in key agencies nor enacted all the rule changes that would end this destructive practice. But there have been some good steps forward in the first 100 days: First Setback for Mountaintop Removal Coal Mining: On March 24, 2009, EPA exercised its authority under the Clean Water Act to object to several mountaintop removal coal mining permit applications, halting these projects until changes are made to minimize their environmental impacts. In the announcement, EPA Administrator Lisa Jackson stated that she has "directed the agency to review other mining permit requests. EPA will use the best science and follow the letter of the law in ensuring we are protecting our environment." If the Obama Administration continues to use the best science in evaluating the impacts of mountaintop removal coal mining, then the days of destruction are numbered. Stopping a VA Mountaintop Removal Coal Mining Operation : On April 8, EPA requested that the U.S. Army Corps of Engineers revoke the permit for A&G Coal's massive Ison Rock Ridge mountaintop removal coal mine in Southwest Virginia. By intervening to stop new devastation, President Obama's EPA did something that the Bush Administration failed to do. Then just this week, the EPA intervened to take over review of a permit for a massive mountaintop removal coal mine in Pike County, Kentucky . Once again, EPA Administrator Jackson seems to be fulfilling her promise of using sound science and working to protect the environment. But with the explosives and bulldozers standing by, it will take tough enforcement and more rule changes and legislation to end mountaintop removal coal mining completely. Although the EPA has said it is reviewing hundreds of new permits, the agency has stated that the vast majority of mining permits will likely still be approved. Serious steps to end mountaintop removal coal mining would support clean energy solutions in Appalachia and create good, green jobs in America. Already close to 2,000 miles of streams have been contaminated or destroyed by mountaintop removal coal mining, and communities throughout the Appalachian region suffer daily from contaminated drinking water, increased flooding, and a decimated landscape. At least another 200 miles of streams could be destroyed if the Obama administration - and the White House Council on Environmental Quality specifically - does not act in the next 60 days to end it. Beyond ending mountaintop removal coal mining, there are many other steps that must be taken to switch to clean energy and away from coal. Coal burning only occurs because of loopholes the industry has at every stage of its lifecycle - from mining it, to burning it and disposing of its ash. President Obama is systematically closing these loopholes and establishing a level playing field for clean energy, and we look forward to continuing our work with his administration to end coal power and bring the U.S. into a clean energy future. More on Obama's First 100 Days
 
Ali Al-Marri, Accused Al Qaeda Agent, Admits Role In 9/11 Attacks, Pleads Guilty In Illinois Court Top
PEORIA, Ill. — A man held since 2001 as an alleged al-Qaida sleeper agent pleaded guilty Thursday to supporting terrorism. Ali al-Marri entered his plea before U.S. District Judge Michael Mihm in Peoria. He admitted to one count of conspiring to provide material support or resources to a foreign terrorist organization. Al-Marri, a legal U.S. resident and native of Qatar, was arrested in late 2001 while studying at Bradley University in Peoria after federal authorities alleged he had links to organizers of the Sept. 11, 2001, attacks. The Bush administration declared al-Marri an "enemy combatant" in late 2001 and held him without charges for more than five years at a Navy brig in South Carolina. The designation was dropped when he was indicted by a federal grand jury in Illinois. The conspiracy charge carries a penalty of up to 15 years in prison. Sentencing was scheduled for July 30. The government says al-Marri met with Osama bin Laden in the summer of 2001 and was sent to the U.S. to help al-Qaida operatives carry out post-Sept. 11 attacks. He got a bachelor's in business management administration from Bradley in 1991, then went to work for a bank in Qatar. He is married and has five children. Al-Marri decided to return to Bradley, obtained a student visa and returned to the U.S. on Sept. 10, 2001. More on Terrorism
 
Esther J. Cepeda: Cure For Hispanic Hysteria and Swine Flu the Same: Chill Out Top
I have the diagnosed cure for the Mexican Swine Flu Heebie-Jeebies, folks: Take a chill pill. Yes, just relax. All this stress about whether Juan Gonzalez is going to sneeze on you and make you sprout a pig-snout is just weakening your immune system. And it's not just the light-skinned, bilingually challenged among us who are nervous about heading down to 26th street for the enchilada run, the brown-skinned, soccer-skill-blessed among us are trippin', too. I've gotten email messages from Latinos all over the country who are re-interpreting every sideways glance as some sort of anti-Mexican snub. Not that it takes much for some to get freaked out, but there is, if you'll pardon the pun, a germ of truth there. Since Sunday, the nation has gone from zero to hysterical and the "dirty Mexicans" everyone has been fretting about since the illegal immigration issue reared its ugly head exactly four years ago just got dirtier. The White House press corps were nearly hyperventilating Sunday about whether Obama had been tested for Swine Flu since he'd been cavorting in the United States of Mexico with the likes of President Felipe Calderon two weeks before. Then they freaked out Monday when they found out one of the dignitaries Obama met while in Mexico dropped dead last Thursday. Not to worry. Mr. Felipe Solís, Director of Mexico's National Anthropology Museum, died of a non-Swine-related pre-existing condition. There's been something for everyone in this almost-crisis: Mainstream media have been having a field day with this health scare because it's made them feel necessary and relevant. Immigrant bashers who've been waiting for just such an occasion to gleefully announce that this is exactly why we should have sealed the borders after the '86 amnesty are lovin' it. And the special interest groups who are offended by everything are enjoying rightfully calling these extremists, um, extreme. This press release arrived in my inbox from the National Council on La Raza: NCLR CONDEMNS THE SHAMELESS EXPLOITATION OF A PUBLIC HEALTH EMERGENCY: NCLR today condemned the assertions made by some members of the media that the outbreak of swine flu is linked to immigrants. Tip for NCLR, don't dignify the likes of a Michael Savage -- who makes his dinero on talking smack about people -- when, in reference to a U.S. outbreak that might well be linked to rich kids who went to Mexico on Spring Break, says something silly like: "Make no mistake about it: Illegal aliens are the carriers of the new strain of human-swine avian flu from Mexico." Whatever. It's news that the Mexican soccer team Club America was asked to wear face masks as they walked through O'Hare airport, as Nick Firchau reported in the SouthtownStar , that creep me out. They were also asked not to touch the fans, but you gotta admit, that's probably decent advice. In other bummer Mexican news, Chicago has canceled a Cinco de Mayo celebration this weekend over swine flu concerns. We've also got all manner of travel between Mexico and the U.S. suspended -- which is a downer for the 1,357,353 people of Mexican descent living in the Chicago area. And the organizers of this year's Million Mexican May Day March might be disappointed with a low turnout at Friday's rally -- the city is pressuring them to cancel or at the very least promise to wear face masks -- though I'd imagine it's hard to get too wound up for that sort of thing anyway, seeing as how the president and his whole administration have solemnly vowed to fix the country's batty immigration laws. Nope, like a May 6 Dos Equis and Jose Cuervo hangover, this too shall pass. Scary Mexican Swine Flu 2009 (has FOX composed a special ominous theme jingle yet?) is no Captain Tripps, it will come and go like the Avian Flu scare did. Remember, just relax. Keep your wits about you and like 99.9 percent of your continent-mates, you'll be just fine. Esther J. Cepeda has been battling a cold since Sunday but she doesn't have The Swine Flu. Read more of Esther's work on www.600words.com , 100%germ-free, guaranteed! More on Swine Flu
 
Rep. Steve Israel: Right-Wing Radio Spreads Flu Lies Top
The last thing our country needs is radio hosts spreading dangerous misinformation about the flu outbreak. But that's exactly what we're getting thanks to people like Michael Savage, Jay Severin and Neal Boortz. These right-wing demagogues are targeting America's immigrant community and trying to turn a possible pandemic into politics. This is simply deplorable and seriously dangerous. A few days ago on his show, Michael Savage said, "Make no mistake about it: Illegal aliens are the carriers of the new strain of human-swine avian flu from Mexico." That is nothing more than fear-mongering and race-baiting in search of ratings. This is exactly the type of rhetoric that fuels discrimination and violence, and those violent acts are why last night the House voted to pass the Hate Crimes Bill. Apparently that wasn't enough of a signal to these guys that they've lost and tolerance and unity have won, but we'll keep fighting. We can't afford to make this serious health emergency into a conservative radio circus. Americans need to stay calm and informed by listening to their doctors and our public health officials. And I'm asking Michael Savage, Jay Severin, Neal Boortz, and anyone who would repeat their arguments to stop now. Stop spreading these lies and work with us to keep Americans healthy and safe. More on Swine Flu
 
House Passes Credit Card Bill That Helps Consumers Top
WASHINGTON — Riding a crest of populist anger, the House on Thursday approved a bill to restrict credit card practices and eliminate sudden increases in interest rates and late fees that have entangled millions of consumers. The legislation passed by a bipartisan vote of 357-70 following lobbying by President Barack Obama and members of his administration. The measure would prohibit so-called double-cycle billing and retroactive rate hikes and would prevent companies from giving credit cards to anyone under 18. If they become law, the new measures won't take effect for a year, except for a requirement that customers get 45 days' notice before their interest rates are increased. That would take effect in 90 days. Similar legislation is before the Senate, where its prospects appear promising. Consumer advocates and some Democrats have unsuccessfully sought for years to bring new rules to the industry. "A big vote in the House will create an even bigger momentum as it goes to the Senate," House Speaker Nancy Pelosi told reporters. Supporters want to get a final congressional package to Obama's desk by the Memorial Day holiday. Before approving the bill, dubbed the Credit Card Holders' Bill of Rights, the House adopted a series of amendments _ some of which were pushed by the White House _ that amplified the restrictions on industry practices. The House measure incorporates Federal Reserve regulations due to take effect in July 2010 but goes further by adding restrictions for credit cards for college students. Double-cycle billing eliminates the interest-free period for consumers who move from paying the full balance monthly to carrying a balance. Opponents tried vainly on the House floor to temper a fast-moving bill with amendments that would have given credit card issuers some openings to raise rates within the proposed restraints. "We shouldn't take credit opportunities away," said Rep. Jeb Hensarling, R-Texas. "I just want consumers to have choices. I want there to be a competitive marketplace." Hensarling and other Republican opponents endorsed the bill's requirements for clearer disclosure in the fine print of credit card agreements. But they said the legislation overall could prompt lenders to restrict credit in an already tight market to compensate for the new requirements. That's the leading argument made by banking industry executives against the legislation. Supporters of the bill also drew on the economic crisis to make their case. "Americans deserve a fair shake," said Ed Perlmutter, D-Colo. The credit card industry "has taken advantage of millions of vulnerable Americans." Rep. Carolyn Maloney, D-N.Y., the bill's chief sponsor, said the changes were needed because "many people are turning to their credit cards because they have lost their jobs." Boosters of the bill are tapping into rising public anger over corporate excesses and the conduct of banks and other companies receiving billions of dollars in taxpayer money. "At a time when millions of families continue to struggle to make ends meet, additional safeguards are needed to ensure consumers are not being saddled by questionable industry practices," the powerful AARP, the lobbying group representing seniors, said in a statement supporting the bill. Obama met at the White House last week with executives of the credit card industry and made clear he wants to sign a bill into law. He reaffirmed it as a priority at his prime-time news conference Wednesday evening, saying legislation was a must to protect consumers from "abusive fees and penalties." Earlier Wednesday, Maloney and Treasury Secretary Timothy Geithner met with representatives of consumer and civil rights groups to discuss the credit card overhaul. The administration is advocating stricter practices that could crimp banks' revenue at the same time the government is shoring up the financial institutions with hundreds of billions of dollars in bailout aid. The credit card changes could cost the banking industry more than $10 billion a year in interest payments, according to a study by the law firm Morrison & Foerster. Amid the recession and rising job losses, consumers _ even those with strong credit records _ have been defaulting at high levels on their credit cards. Banks already battered by the mortgage and credit crises have been bleeding tens of billions in red ink from the losses. U.S. credit card debt has jumped 25 percent in the past 10 years, reaching $963 billion in January, according to figures from the White House. The average outstanding credit card debt for households that have a card was $10,679 at the end of 2008, according to CreditCard.com, an online market. ___ House bill: H.R.627 Senate bill: S.235
 
David Beckmann: The 'How' and 'Why' of Reforming U.S. Foreign Assistance Top
Since its origins after World War II, U.S. foreign assistance has served our national interests in three ways: enhancing national security, fighting poverty and expanding global economic opportunities, and promoting American values. These interests are mutually reinforcing, and when our government pursues them, our country emerges as a pragmatic and principled world leader. The importance of supporting development and poverty reduction abroad is understood now, as never before, as both a moral imperative and a prerequisite for sustained U.S. national security. That said, here is the challenge we face: U.S. foreign assistance is still largely governed by a law passed in 1961 by President John F. Kennedy. Patchwork attempts to update our foreign assistance system over the last several decades have brought more chaos than clarity: 12 departments, 25 agencies, and almost 60 government offices today implement our global development policies and programs. Despite many successful programs, the system remains badly outdated, poorly organized and generally ill equipped to meet today's global challenges. In these difficult economic times, a more efficient foreign assistance system--with better coordination, better accountability and better clarity--will ensure that people who need help the most get it faster and more effectively. Also, it will mean less waste and more impact for our hard-earned tax dollars. Last night, our lawmakers started the process of overhauling U.S. foreign assistance. Rep. Howard Berman (D-CA-28), chair of the House Foreign Affairs Committee and Rep. Mark Kirk (R-IL-10), introduced H. R. 2139, the Initiating Foreign Assistance Reform Act of 2009. It requires President Barack Obama and his administration to develop and implement a comprehensive national strategy for global development, improve evaluation of development programs, and increase the transparency of U.S. foreign assistance to developing countries. This is a good first step in making our nation's foreign assistance more effective, efficient and accountable. Coordinating and improving our foreign assistance can have far-reaching effects on reducing hunger and poverty and making the world more politically stable. In turn, a more effective U.S. foreign assistance system would make for a more secure United States, and restore our leadership around the world. U.S. global leadership is based not only on our military clout or economic power, but on our moral stature, which derives in large measure from helping others improve their lives and those of their communities and societies. Investments in international health care, education, job creation, infrastructure and other essential services that generate economic growth and reduce poverty overseas are investments in our own future. As President Obama said at a town hall appearance today in Missouri marking his 100th day in office, U.S. aid to other countries isn't only ethical and moral, but it's sound strategy as well. The president knows foreign aid is very unpopular with the public, especially when there are such pressing needs at home, but by showing an interest in the well-being of people in other countries, the United States can meet its national interests. In a world where poverty anywhere threatens prosperity everywhere, foreign assistance is a vital tool for translating our moral beliefs into practical actions.
 
Law Firms Get New Fee Structure Top
The global financial crisis is reshaping many businesses--and tradition-bound, top-drawer law firms are no exception. While the legal industry had begun to face the need for change before the current economic downturn, the crisis is accelerating trends that will alter the structure and operations of law firms going forward.
 
Dan Becker and James Gerstenzang: Want Tailfins With That? Top
Should taxpayers subsidize the sale of 18-mile-per-gallon SUVs? That is the question at the heart of a still-quiet but heated debate that is likely to flare into full view in Congress in coming weeks. It brings together two issues at the intersection of the toughest policy challenges facing Congress and the Obama administration as they seek to revitalize the economy and fight global warming. A $3 billion proposal intended to boost auto and light truck sales will be attached to legislation that could emerge by Memorial Day from the House Energy and Commerce Committee as the panel prepares a bill intended to limit greenhouse gas emissions. There is broad agreement on the idea of using federal money to stimulate sales. But that is where the consensus ends. One approach, advanced by Rep. Betty Sutton (D-Ohio) and gathering behind-the-scenes support at the urging of Rep. John Dingell (D-Mich.), long a key supporter of the auto industry, would work this way: Send a gas-guzzling SUV or other light truck--one getting at least 16 miles per gallon--to a scrap heap (to make sure it is permanently removed from the road) and receive $3,000 from the federal government to help defray the cost of buying a new vehicle that, in this case, gets at least 18 miles per gallon. The 18 mpg threshold is half a mile per gallon below the federal fuel economy standard for trucks. A competing measure supported by two other Democrats, Reps. Steve Israel of New York and Jay Inslee of Washington, would allow the buyer to replace the gas-guzzler with a new or used vehicle, but it must be one that improves fuel economy over the old vehicle by at least 25%. The Obama administration has endorsed the idea of paying to get the clunkers off the road , but has quietly put top priority on achieving the maximum economic benefit for automakers. But, Ann Mesnikoff, director of the Sierra Club's Green Transportation Campaign, wrote in a Sierra Club blog, "The auto industry is doing its best to ensure that the fuel economy veneer on the package is paper thin." "Automakers already produce a fleet of cars that exceeds the 27.5 mpg standard that has been in place since 1986, so we should ensure our dollars help sell cars that are above that ancient average," she blogged. Both versions of the "cash for clunkers" plan would use taxpayer money to boost auto sales. The Israel-Inslee bill would push Detroit into producing--and selling--environmentally cleaner cars and trucks. The question is not whether taxpayer money should be used to help the auto industry. Tens of billions have gone their way and more will follow. The issue is whether that money is used to help the auto industry avoid past mistakes - or repeat them. More on Barack Obama
 
Russian Gay Pride Parade Denied For Eurovision Song Contest Top
Authorities in Moscow on Thursday renewed their opposition to a public demonstration by gays and lesbians during the upcoming final round of the Eurovision Song Contest hosted by the Russian capital. More on Russia
 
Swine Flu: China Confident Of Containing Outbreak Top
China's health minister expressed confidence that the country could prevent and contain the H1N1 flu, or swine flu, virus. More on Swine Flu
 
Nora O'Brien, NBC Executive, Dies On "Parenthood" Set Top
Tragedy struck NBC's pilot "Parenthood" on Wednesday night when NBC drama executive Nora O'Brien died unexpectedly on the Berkeley set of the pilot starring Peter Krause, Maura Tierney and Erika Christensen. According to sources, O'Brien, a six-year NBC Uni veteran, died of a brain aneurysm. She was 42 More on NBC
 
Study: Parrots, Elephants Can Dance (Not Really Together, Though) Top
NEW YORK — They wouldn't blow away the competition on "Dancing with the Stars," but it turns out that some birds got rhythm. After studying a cockatoo that grooves to the Backstreet Boys and about 1,000 YouTube videos, scientists say they've documented for the first time that some animals "dance" to a musical beat. The results support a theory for why the human brain is wired for dancing. In lab studies of two parrots and close review of the YouTube videos, scientists looked for signs that animals were actually feeling the beat of music they heard. The verdict: Some parrots did, and maybe an occasional elephant. But researchers found no evidence of that for dogs and cats, despite long exposure to people and music, nor for chimps, our closest living relatives. Why? The truly boppin' animals shared with people some ability to mimic sounds they hear, the researchers say. (Even elephants can do that). The brain circuitry for that ability lets people learn to talk, and evidently also to dance or tap their toes to music, suggests Aniruddh Patel of The Neurosciences Institute in San Diego. He proposed the music connection in 2006. He also led a study of Snowball that was published online Thursday by the journal Current Biology. A separate YouTube study, also published Thursday by the journal, was led by Adena Schachner, a graduate student in psychology at Harvard. In sum, the new research "definitely gives us a bit of insight into why and how humans became able to dance," Schachner said. A video of Snowball bobbing his head and kicking like a little Rockette to music has been viewed more than 2 million times on YouTube since it was posted in 2007. Patel saw it after a colleague pointed it out. "I was very impressed," Patel said. So he collaborated with Snowball's owner in Indiana for a more formal test. That showed Snowball wasn't just mimicking the movements of somebody off-camera. And Snowball's movements followed the beat of his favorite Backstreet Boys song, "Everybody (Backstreet's Back)" even when researchers sped up the tune and slowed it down. Actually, Snowball drifted in and out of following the beat, just as a child does, Patel said. But statistical analysis of his head bobs showed they really were related to the tempo. Schachner and colleagues, meanwhile, found that videos of Snowball passed their own tests for following a beat. They also tested an African gray parrot named Alex, whose mental abilities had been studied for many years, earning him a measure of scientific fame, but who hadn't been trained to respond to music. "We had no idea he would do anything in response to the musical beat," Schachner said. But when the music started, "to our surprise, Alex started to dance." Analysis showed Alex's head bobbing tracked the musical beat. (Alex died in 2007, shortly after the study. He starred in a recent book, "Alex & Me," by researcher Irene Pepperberg, a co-author of Schachner's paper). To cast a wider net in the animal kingdom, Schachner and colleagues searched YouTube for videos of dancing animals. Out of about 1,000 such videos, they found 49 that appeared worthy of a detailed analysis; 33 videos showed convincing evidence of animals following a musical beat. Those animals were 14 species of parrot and one species of elephant _ all known to be able to mimic sounds they hear, a result that supports Patel's theory. Schachner, who pointed out that elephants are often trained performers and that little is known about the elephant videos, said it will take further work before she's convinced that elephants really move to a beat on their own. When researchers contacted the owners of some parrots in the videos, they were told that the birds' response to music had been a surprise, indicating a natural ability. Still, not every parrot will dance to music, and so the brain circuitry for so-called "vocal mimicry" apparently isn't enough by itself to make an animal boogie, Schachner said. In a Current Biology commentary, W. Tecumseh Fitch of the University of St. Andrews in Scotland said the new work topples the claim that only people can move to a musical beat. It would make sense to study dolphins for that ability, and it's too early to rule out apes, he said. ___ On the Net: Video of Snowball: http://sn.im/h2j6m Snowball's homepage: http://www.birdloversonly.org/blsnowball.shtml Sample of bird videos: http://sn.im/h2jca Current Biology: http://www.cell.com/current-biology More on Animals
 
CRAIGSLIST SUSPECT WEDDING: Markoff's Fiancee's Lawyer Says It Is Being 'Dismantled' Top
BOSTON — A lawyer for the fiancee of a former medical student accused of killing a masseuse he contacted on Craigslist says the wedding they had planned this summer is being "dismantled." Robert Honecker, the lawyer for Megan McAllister, told ABC's "Good Morning America" on Thursday that his client's planned August wedding to Philip Markoff "will not occur" and is not likely to happen at any time in the future. McAllister, accompanied by her mother and Honecker, met with Markoff in jail for about 25 minutes on Wednesday. McAllister did not appear to be wearing an engagement ring and did not talk to the media. Markoff is charged with shooting Julissa Brisman of New York City on April 14 at a Boston hotel. He has pleaded not guilty. More on Crime
 
Jeffrey Feldman: The Hedge Fund Smack Down in the Chrysler Bankruptcy Top
On the 101st day of his Presidency, Barack Obama finally slapped the hedge funds across the face like they deserved.  In his statement about the Chrysler bankruptcy and subsequent restructuring into a "Chrysler-Fiat Alliance," President Obama made it perfectly clear that not all the stakeholders at the table stepped up in good faith for the good of the company or the good of the nation.  Some stakeholders were simply in it for themselves.    Framing his statement about Chrysler in terms of "shared sacrifice," President Obama elaborated on "substantial financial contribution" of the Canadian government, the massive debtor-in-possession financing offered by the U.S. taxpayer, and the significant sacrifices made by the UAW to guarantee that Chrysler could emerge from bankruptcy a stronger more viable company in alliance with Italian automaker Fiat.  But there were some parties, according to the President, who deserved mention only for their unwillingness to join the effort (emphasis added): While many stakeholders made sacrifices and worked constructively in this process, some did not. In particular, a group of investment firmsand hedge funds failed to accept reasonable offers to settle on their debt . In order to effectuate this alliance without rewarding those who refused to sacrifice, the U.S. government will stand behind Chrysler's efforts to use our bankruptcy code to clear away remaining obligations and emerge stronger and more competitive. ( link ) ( video ) Yes, America. What we read in that statement is the first, high profile, no nonsense, slap across the face, ouch that hurts, there's plenty more where that came from, the law and the nation is on our side, Commander in Chief hedge fund smack down.  May it be the first of many, many more to come. When faced with the refusal of the hedge fund bond holders to accept 'reasonable offers'--most likely of a percentage-on-the-dollar equity swap in exchange for their debt portfolios--the Obama administration turned to the bankruptcy code to 'clear away remaining obligations,' thereby allowing the Chrysler deal to go through.  By Jove!  I think he's got it. The beauty of the American bankruptcy courts is that these massive financial decisions will not take place in backrooms, but under the watchful eye of the courts.  Already, though, there is griping. Free Press reporter Tom Walsh sums up what the reactionary view of President Obama's facilitating the Chrysler deal will be: By forcing Chrysler LLC to file for bankruptcy, President Barack Obama fired an unmistakable warning shot today toward General Motors Corp., its bondholders, its dealers, its suppliers, its unions and anyone else who didn't think Obama had the resolve to impose his will on the domestic automobile industry. The message was this: This president is not bluffing about bankruptcy. If he's willing to use the big stick on Chrysler, there's no reason to think he'll balk at forcing GM there too. He's serious about sacrifice. Whether you're a labor unionist who thinks Obama owes you for supporting his election campaign, or a Wall Street sharpie who thinks you can cut a better deal by holding out and maneuvering in court, you've got to swallow hard and cough up more than you'd like. ( link ) Actually, the President's message was this:  when labor, management, and taxpayers of multiple nations have stepped up to bat, the American public will not be held hostage by hedge fund managers stalling for profits. That is the message.  And it is a message Americans have been waiting patiently to hear. Anyone who reads the public details of the Chrysler restructuring sees a plan that will ultimately benefit those who sacrificed for and believed in the company.  While bankruptcy is sobering, and symbolically frightening for such a large corporation, news that the President faced down the hedge funds in favor of working families and communities should help beleaguered states like Michigan feel better about the bumpy road they are facing. While they reap profits obscene enough to make Nineteenth Century robber barons pound their fists, a remarkable number of Americans still do not know how much financial power has been concentrated into a few hands as a result of the hedge funds. Of course, the bigger issue is not the potential of large investment firms and hedge fund bond holders to hold up the GM restructuring, but their problematic role in the banking crisis.  The Obama administration has structured a bank recovery plan that depends very heavily on hedge funds doing the right thing--on their stepping up to make shared sacrifice.  Even though these hedge funds would reap huge, government subsidized profits for doing so in the long run, the bank recovery plan has not yet taken off.  Shared sacrifice there has not been. Will Obama face down these same parties to move other industries forward and, most importantly, to get the bank recovery rolling?  So stand strong, Mr. President!  Rest assured that millions of Americans are hoping for a lot more hedge fund smack downs. (cross posted from Frameshop ) More on Barack Obama
 

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