The Hellmouth

More news from the Hellmouth. Well, it’s an extremely politicized police department (and by that, I mean the politicians who run the town use them as their personal errand boys). That tends to make cops believe they can do just about anything without consequences, and I’d bet that he’s done other things before this happened.

Imagine, this guy was the head of the Special Victims unit.

Why Wall St. Hearts Regulation

This story from the Washington Examiner ties in neatly with another story I just read today, about how regulation will make it very, very difficult for angel investors to help with startups of small businesses – and now I know why:

A powerful alumni network plus bundles of campaign cash mean Goldman will get what it wants — and contrary to the media narrative, what Goldman wants is not laissez-faire.

Politico quoted a Goldman lobbyist Monday saying, “We’re not against regulation. We’re for regulation. We partner with regulators.” At least three times in Goldman’s conference call Tuesday, spokesmen trumpeted the firm’s support for more federal control.

Vague public calls for “reasonable regulation,” of course, are often little more than smoke. But Goldman’s annual report explicitly endorsed stricter federal capital and liquidity requirements. Goldman reported on the conference call that it holds 15 percent “Tier 1 capital,” meaning it is very liquid and not very risky. Goldman can play it safe, you see, without needing a regulation. But regulations prevent smaller competitors from taking the risks needed to compete with Goldman (and every competitor is smaller).

It’s a game that nobody plays as well as Goldman, but all the big banks will have a hand in crafting this “reform.” Consider the recent flap over the $50 billion resolution fund in the Senate bill. Banks didn’t like the resolution fund, because it would be capitalized by a bank tax. Republicans rightly attacked the bill for institutionalizing bailouts, but focusing on the $50 billion was a bit of a distraction. Some leading Democrats are now ready to back away from the $50 billion and the bank tax, which just means that we now have unfunded implicit bailouts. The banks win.

So, just as drug companies and insurers used Republicans to kill the public option before using Democrats to mandate insurance and subsidize drugs, big banks are using Republicans to kill a bank tax while using Democrats to erect barriers to entry, to institutionalize bailouts, and to restore confidence in Wall Street.

Lobbyists working on the issue report that the big banks aren’t fighting against the Consumer Financial Protection Agency anymore. It’s not a big deal to them — it will probably cost them only the salary and benefits of one more lobbyist or lawyer. Citigroup might hire another Barney Frank staffer. Goldman already has Greg Craig.

Pretty soon, the left will be complaining about how Wall Street has “captured” the CFPA. But regulatory agencies aren’t kidnapped — they are born in the custody of the businesses they regulate. This is the nature of the game. And it’s a game rigged in Goldman’s favor, regardless of Obama’s trash talk.

Morning Joe

I really hate this show, because it pretends to be balanced but has a very specific wingnut agenda. Here’s a perfect example with Joan Walsh:

So who’s this left-wing figure spouting hate rhetoric comparable to Rush Limbaugh and Glenn Beck? Still waiting…

Job Hunting

Just got a lead on a job that’s, well, not in my line of work (let’s say it’s an organization of fundamentalist Christians and leave it at that), but it’s a JOB. I’ll let you know if it works out.

Document: Tea Party Express Formed To Raise GOP Cash

I’m sure you’re all very surprised:

The Tea Party has been billed as an organic grassroots operation, but a newly uncovered document obtained by Politico suggests the movement has been successfully co-opted as a Republican fundraising ploy.

GOP political consultant Joe Wierzbicki floated the proposal a year ago today to create the Tea Party Express, a nationwide bus tour to “give a boost to our PAC and position us as a growing force/leading force as the 2010 elections come into focus.” His idea eventually became one of the best known brands in the Tea Party movement.

The document cautioned planners to be careful when discussing the ruse to use Tea Parties for political gain. “We have to be very, very careful about discussing amongst ourselves anyone we include ‘outside of the family’ because quite frankly, we are not only not part of the political establishment or conservative establishment, but we are also sadly not currently a part of the ‘tea party’ establishment,” Wierzbicki wrote.

Wierzbicki, who works for the Sacramento firm Russo Marsh + Rogers, went on to outline how conservative media including Fox News could be leveraged to hype the Tea Party Express. He recommended using “mentions and possibly even promotion from conservative/pro-tea party bloggers, talk radio hosts, Fox News commentators, etc…”

Citing Michigan as an example, he noted that one of the plan’s primary goals would be to elect Republican candidates. “It is also worth considering making a return run to Michigan. Former Republican Michigan governor, John Engler, has recently stated that he believes the Republican Party will do quite well in Michigan,” he continued.

Cutter in Chief

Except when it comes to his own staff, of course:

TRENTON — There are nearly twice as many people making $100,000 or more per year in Gov. Chris Christie’s administration than under his predecessor, according to an Associated Press analysis that the governor’s office disputes.

The AP analysis found that while Christie, a Republican, is proposing laying off 1,300 state workers, he is spending nearly $2 million more on annual salaries than his predecessor, former Gov. Jon S. Corzine, a Democrat.

According to an Asbury Park Press online database of 2009 public payroll records, 18 people made $100,000 or more in 2009 under Corzine. According to payroll records posted on Christie’s website on April 8, 34 people in his administration make six figures — including the governor himself, who makes $175,000 by law.

Christie’s payroll is $8.9 million for 117 people. That figure doesn’t include Lt. Gov. Kim Guadagno, who makes $141,000 — the same as all cabinet members because she also serves as the secretary of state.

Using Christie’s figures and those from the Asbury Park Press, the average salary under Corzine was $67,961; the average under Christie is $76,068.

Christie spokesman Mike Drewniak disputed the difference in salaries, saying Corzine parked staff members in other departments to make it look as though there were fewer people on his payroll.