Anniversary Post: Plessy v Ferguson

Homer PlessyOn this day in 1892, Homer Plessy refused to relinquish his seat in a “whites only” train car. This led to Plessy v Ferguson — one of the most infamous Supreme Court cases ever that enshrined “separate but equal” in law for the next 58 years. It used to annoy me that Sarah Palin couldn’t even name this one case when asked to name a Supreme Court case she disagreed with other than Roe v Wade. It is a case I first learned of in high school. But I later realized that Palin probably doesn’t disagree with Plessy v Ferguson — except in the sense that it is a case that is now universally vilified. The reasoning in the case is fully consistent with modern conservative thinking.

In my previous educational encounters with this case, I never read about the specifics of it. And they are quite interesting. To start with, this was not a case of a man just happening to be in the “wrong” place and causing a ruckus. Rather it was just like it would later be with Rosa Parks. The African American civil rights group Comité des Citoyens (French: Citizens Committee) was looking for a way to challenge the recently passed Louisiana Separate Car Act, which mandated separate but equal train cars. So the Comité chose Homer Plessy.

One of the reasons that Plessy was chosen was that he was 7/8ths white — an “octoroon.” So he could “pass.” This allowed him to purchase a ticket on a “whites only” train car. When the conductor came by, Plessy told him that he was 7/8ths white that that he refused to move to the “blacks only” train car. And the rest, as they say, is literally history. According to Wikipedia, “Everything that the committee had organized occurred as planned, except for the decision of the Supreme Court in 1896.” Of course, the Comité knew it was likely to lose.

The problem was the Supreme Court as an institution is dedicated to preserving the power of the powerful. For people of my age, that sounds wrong. We saw a lot of good work by the Court over the last 60 years. But really, that was the exception. What the Court is now is more in keeping with what it has traditionally been. Even if the court were filled with Elena Kagans, it would hardly be liberal; it would be more for the status quote. As it was, the Supreme Court found against Plessy by a vote of 7-1. In Ian Millhiser’s list of The Five Worst Supreme Court Justices In American History, two of them found with the majority on Plessy v Ferguson: Stephen J Field (#1) and Melville Fuller (#4).

The lone dissenter was John Marshall Harlan who said — correctly — that Plessy v Ferguson would be remembered as infamously as Dred Scott v Sandford. But lest you think that we should consider Plessy v Ferguson as typical of the time, remember that Harlan’s argument (apart from his own ethnocentrism) is remarkably modern:

We boast of the freedom enjoyed by our people above all other peoples. But it is difficult to reconcile that boast with a state of the law which, practically, puts the brand of servitude and degradation upon a large class of our fellow-citizens, our equals before the law. The thin disguise of “equal” accommodations for passengers in railroad coaches will not mislead any one, nor atone for the wrong this day done.

What’s sad is that three current justices certainly, four probably, and five possibly would find against Plessy if this kind of explicit segregation were still an issue. That’s what’s so dangerous about this court. The conservatives are loons, but they are extremely smart and creative loons.

We mark this day when the African American community organized to protect their civil rights, but lost — to our nation’s great shame.

Odds and Ends Vol 16

Odds and EndsIt is time to clean out some of the old stuff that is cluttering up my computer for another installment of Odds and Ends. This is mostly images. And it was coming upon that last image that got me to post all this now. I somehow didn’t want it sitting on my hard drive; it’s such an amazing political statement.

Otherwise, this is just a grab-bag — as usual.

Bullying

Someone posted this following cartoon about bullying on Google+. I find the style quite compelling — and familiar. But I haven’t been able to find out who the artist is. It’s very sweet. On the other hand, if that were the extent of bullying, we would have a far kinder society.

Bullying - Father's Birthday

Radical Republicans

I’ve already written about the extremism of the Republican Party, A Conservative’s Disingenuous Desperation. But I found the following graph in an article by Christopher Ingraham, This Astonishing Chart Shows How Moderate Republicans Are an Endangered Species. It is taken from the standard Vote View data that everyone is aware of. But this graph shows what has happened to the parties. It takes the range of views in the parties at any given time and then ranks individuals where they are relative to their own parties. And the results are jaw-dropping:

House Non-Moderates - Vote View

I also really like the title of the graph, which is a reference to the play No Sex Please, We’re British — which was apparently also made into a movie.

Rat in the Box

In 1983, Firesign Theater made the mistake of making a film, Nick Danger in the Case of the Missing Yolk. It has its moments, but actually seeing the ridiculousness that I had always imagined while listening to their records made it all seem too obvious — too forced. If you want, you can watch the whole thing on YouTube. But the only thing I was really taken with was what I think is a very cute rat image in the commercial for “Rat in the Box”:

Rat in the Box

Edward Snowden

Charlie Pierce was nice enough to remind us, There Would Be No USA Freedom Act Without Edward Snowden. It’s amazing that we know so much because of Snowden and Chelsea Manning, yet the mainstream media have been really reluctant to acknowledge that. It reminds me of a segment on Piers Morgan Live with James Risen, Glenn Greenwald, and Jeffrey Toobin. Toobin takes the really annoying line that Snowden should be thrown in prison for decades, while admitting that such discussions are good. Risen responds, “We wouldn’t be having this discussion if it wasn’t for him.” The same thing is true of the USA Freedom Act. But instead, Snowden isn’t mentioned and Rand Paul gets all the credit.

Rick Perry

On Thursday night’s The Daily Show, Jon Stewart offered up the best campaign slogan ever for Rick Perry:

Rick Perry - Risk the Consequences

Still Not Asking for It

I found this over at the Amanda Taub page on The Over-Think Tank. I was struck by just how powerful it is: a single picture that destroys the idea that rape or other forms of physical and verbal assault are somehow earned. I do, however, wish this young woman weren’t smoking!

Still Not Asking for It

I had wanted to finish off this edition with the most recent image of Pluto, but we continue to get very little to look at. But I will continue to provide updates about the planet as they come in — probably as their own articles. Otherwise, we are finished with this installment of Odds and Ends. I will see you next time.

Dennis Hastert and the Destruction of Congress

Norm OrnsteinBut no speaker did more to relegate the regular order to the sidelines than Hastert. As Tom Mann and I describe in detail in our 2006 book “The Broken Branch,” Hastert presided over one of the worst moments for a deliberative body in modern times, the nearly three-hour vote in the dead of night to pass the Medicare prescription-drug bill — a vote that under the rules was supposed to last 15 minutes. The arm-twisting on the floor turned to something close to outright extortion, resulting in yet more admonitions for Tom DeLay. Under Hastert, amendments from Democrats and Republicans alike were squelched by a strikingly pliant Rules Committee; conferences were rarely held, and if they were, it was late at night and they were closed to input from all except loyal lieutenants; and provisions were sometimes added to conference reports that had never been in either House or Senate bills without notice to other lawmakers, among other indignities. And, of course, Hastert presided over the informal “Hastert rule,” doing whatever he could to avoid input from Democrats, trying to pass bills with Republicans alone. The House is a very partisan institution, with rules structured to give even tiny majorities enormous leverage. But Hastert took those realities to a new and more tribalized, partisan plane.

—Norm Ornstein
This Isn’t Dennis Hastert’s First Scandal

The Real Threat to Academic Freedom

Amanda TaubLast weekend, I wrote, Public Shaming and the Power of Employers. In it, I argued that public shaming did great harm primarily because it leads to job loss. The issue is not so much that people are just awful to each other, but rather that workers in modern America have little control of their work lives. In the example that I used from So You’ve Been Publicly Shamed, a white man ended up with very little harm done because he immediately got another job. The black woman, however, was still unemployed years after her public shaming. As usual, our society refuses to engage with the injustice of the economic system itself.

A couple of days ago, a guy writing under the pseudonym Edward Schlosser wrote an article at Vox, I’m a Liberal Professor, and My Liberal Students Terrify Me. The article quickly became a big deal. Jonathan Chait was right on top of it with yet another of this articles, “See, I was right!” And conservatives everywhere just love this because they want to claim that the real intolerant ones are not people who want to deny rights to others, but rather liberals who informally police speech. To be honest, I find the whole thing exhausting.

Let’s start with the fact that young people yelling at old people is a rite of passage. For my entire life there have been college students making grand statements about how their college professors are offensive and just don’t get it. Even Jonathan Chait admits that the political correctness that he talks about is just a “wave.” The exact same complaints date back at least to the 1960s, but apparently Chait doesn’t know anything before his time. As far as I can tell, there have been student rebellions for as long as there have been colleges. I don’t see any reason to think this “wave” is any worse or even different from earlier “waves.”

Amanda Taub wrote a great response to Professor Schlosser’s article, I Was a Liberal Adjunct Professor. My Liberal Students Didn’t Scare Me at All. She gets at what I was talking about regarding shame. The issue isn’t that the students are particularly horrible. And it most certainly isn’t that the students have more power. It is that the professors have far less power than they used to — relative to the administration. She quoted an amazing statistic from the American Association of University Professors: only 24% of professors are tenure or tenure track. The rest are adjuncts, which are generally temporary positions that pay poorly and have no benefits — the minimum wage job of the PhD crowd. And that means that tenured professors are afraid because “there’s a mile-long line of applicants eager to take their place.”

Taub summed up the issue well:

The problem isn’t the substance of student complaints — the problem is that university lecturers are so terrified of the effect student complaints could have. That’s a problem to be solved by universities having faculty members’ backs, not by somehow silencing the debate over identity politics.

She then went on to discuss the way the whole issue gets distorted. It strikes me as very American. People in most nations look at the world very much in terms of class. But we have a bias against that. We want to see everything as individual against individual — or at least one group against another group with roughly equal power. As a result, we have ended up with the ridiculous system we have where those with actual power are never held to account or, as in this case, even blamed.

Students are as they ever were. After the power elite spent decades attacking teachers at all levels, it isn’t surprising that teachers at all levels would find they have greatly reduced power. What is outrageous, however, is that people like Jonathan Chait and Edward Schlosser would focus on an irrelevance and ignore the real power that is hurting professors and academic freedom.

Conservative Response to Automatic Voter Reg

Daniel FosterJonathan Chait is right about this, Hillary Clinton Calls the Republican Bluff on Voting Rights. It’s about Clinton’s call last week for automatic voter registration. The summary of the article is, “A new idea to make voting easy that Republicans will have to come up with a reason to oppose.” Because that really is the issue. Republicans have come out big in recent years for making voting as hard as possible. It is always posed as fighting against “voter fraud.” But in fact, it is just a way to get as few people voting as possible because the more people who vote the better liberal politicians and ideas do.

At the end of his article, Chait highlights Daniel Foster in National Review, who wrote, Don’t Make Democracy More Like The Internet. He claimed that automatic voter registration would be “a terrible idea” and “not just because it would certainly be devastating to the electoral prospects of conservatives.” And then he goes on to explain why democracy is a bad thing and it should be limited to those who care enough to jump through all the hoops. He claimed that sure, “dolts” (his word) ought to have the right to vote if they are willing to do everything that Republicans do to stop them, but “that doesn’t mean we have to encourage” them.

This is a standard argument that I have heard from conservatives for decades. But it is fundamentally wrong. Older people are more likely to vote than younger people, but that doesn’t mean that they care more about voting. Older people have — on average — huge advantages that make voting easy for them: they don’t have children to care for; they don’t have jobs to go to; they don’t move often. So arguments like those of Foster are not about who cares the most about politics; they are about which demographics are seen as better because they are more likely to vote for conservatives.

In general, when people complain to me about voters who don’t understand the issues, it turns out that the complainer is extremely ignorant about the issues. The argument really only ever means, “These people don’t agree with me!” Of course, Fox News has made this infinitely worse by allowing its addicts to think that they are being well informed when they are actually being well disinformed. The people who just watch the nightly news are usually better informed that Fox News viewers — except when it comes to Solyndra and Jade Helm.

Democracy is an extremely humble form of government. It is dependent upon the idea that none of us has a monopoly on the truth and so we are better off getting everyone’s input. Conservatives have never much liked this idea. They see democracy as mob rule. And indeed, it can be. But not having democracy leads inexorably to tyranny. The alternative to democracy isn’t some perfect as yet undisclosed system. But conservatives continue to push against democracy because they ultimately believe in monarchy — just one that they are in control of.

At the same time that conservatives are pushing for less democracy, they are undermining the very idea of absolute truth. This is what is behind their war science. So they aren’t even making the argument that the masses get certain issues wrong on a factual basis. Conservatives don’t even care about the factual basis of their claims. They just want the world to work a certain way, and if that isn’t true, they don’t care. They are the ones who define reality. That’s why Sam Brownback claimed that cutting corporate and other taxes on the rich would increase revenue for the state, and after the opposite happened, he continues to stay the course.

The question is whether the conservatives will come up with a better argument than Daniel Foster did to counter Hillary Clinton’s idea to make voter registration automatic. My guess is that they won’t. They will just bluster their way through it. They will never say that democracy is bad, but they will make their “only people who care” argument. They will throw in a little “voter fraud” and how we can’t do a thing until there is not a single fraudulent vote in the nation. And they will just move on. Don’t expect the media establishment to question them.

Morning Music: Ali Farka Touré & Toumani Diabaté

In the Heart of the MoonMali is one of the countries occupying large parts of the Sahara Desert, which we Americans don’t think much about. Most of its 15 million people live in the south of the country near the Niger and Senegal rivers. In 2005, two Mali musicians, Ali Farka Touré and Toumani Diabaté, produced an album based upon the music from both the north and south of Mali as well as from Guinea to the west, In the Heart of the Moon. It’s mostly just the two of them playing: Touré on guitar and Diabaté on the kora — a kind of harp with 21 strings.

The album must have been a big hit, because it won the Grammy award for “Best Traditional World Album.” I tend not to like the term “world music,” because it makes me think of people who have no taste in music — they just listen to whatever album is featured on PRI’s The World. The music itself is usually great. So here are the two of them performing the first cut off the album, “Debe,” in Brussels. Only a few months after this concert, Touré died of bone cancer, so he must have already been sick. It adds a bit of poignancy to the event.

Anniversary Post: Tetris

TetrisOn this day in 1984, Tetris was first released. I’ve long been a major critic of video games. This is because they mostly suck. I blame it on Doom. It wasn’t the first first-person shooter game by a long shot. But it was the one that caused the game development business to go haywire. It was no longer necessary to do anything new. It was all just minor changes. Bored running around abandoned buildings shooting people? Try running around an abandoned ship shooting people! Or Nazis! Or Nazi Zombies! I’ll admit that I don’t stay up with it, but every time I revisit the subject, I find that there really is nothing new going on.

Now that’s not to say there is nothing new going on in the game development community. People continue to be creative. It is just that first-person shooter games are the bedrock of the industry. That’s because humans — especially men — are really horrible. Apparently, we continue to have wars because men really love them — at least in the abstract. Regardless, Tetris has always stood out to me as showing how much one can do with almost nothing. Remember: it came out years after more complex games like Pac-Man, Donkey Kong, and Q*Bert. It also came out a decade after the prototype for first-person shooter games, Maze War.

The point is that what interests us is not complexity. Certain stories require complexity to tell. It depends upon the story. But making Tetris three-dimensional did not improve it. I’m sure that some people are out there using the tools of first-person shooter games to do interesting things. But these are not the games people are lining up at game stores to buy.

Happy anniversary Tetris!

Thoughts on So You’ve Been Publicly Shamed

So You've Been Publicly ShamedI just read Jon Ronson’s newest book, So You’ve Been Publicly Shamed. It is probably his best book yet. Then again, maybe it’s just that I am really interested in the subject of public shaming — and shame more generally. But it was my intention to just read a couple of chapters and move on. Instead, I ended up reading almost the whole thing in one sitting. It really draws the reader in — especially anyone who is active in public life, even if that just means sending out a lot of tweets.

It is my fear of public shaming that stops me from being more involved in Twitter. For example, after the Vanity Fair cover with Caitlyn Jenner, I wanted to tweet out, “Great, now Jenner is providing unrealistic body images for women.” Similarly, after George Zimmerman killed Trayvon Martin, I wanted to announce a new line of hoodies that sported the words, “Don’t shoot! I’m white!” This second one relates directly to Ronson’s primary object: Justine Sacco. She is the woman who tweeted right before boarding a very long flight to South Africa, “Going to Africa. Hope I don’t get AIDS. Just kidding. I’m white!” The tweet went viral while she was in the air, with at least one blogger camping out at the airport to get a picture of this supposed devil woman.

At the time, I really did not understand it. Maybe that’s not surprising coming from the man who thinks that “Don’t shoot! I’m white” on a hoodie is the height of social satire. But Sacco’s tweet was not insensitive, much less racist. It was rather the other way around: it was mocking western stereotypes and highlighting the fact that by and large Americans do not have to worry about AIDS. What I saw happen to Sacco was very typical and one of the reasons I’m not too keen on humanity. People decided to read the tweet as insensitive and racist so that they then could enjoy the pleasure of feeling outraged about it.

We see this same thing throughout media. Certainly, Jerry Springer and Judge Judy would have had no careers if it weren’t for the manufacture of outrage. And far from ideology, Fox News is primary an outrage machine. But that’s true to a lesser extent with CNN and MSNBC. People not only enjoy feeling outraged, they become addicted to it. It is one of the few ways that modern Americans have of feeling good about themselves. It’s sad.

The other major shaming example in So You’ve Been Publicly Shamed is Lindsey Stone. This story is an even better example of this. Stone is a caregiver to disabled people. She and a friend were in the habit of creating what they thought were funny pictures. For example, there is a photo of Stone smoking in front of a “no smoking” sign. The photo that got her in trouble was of her shouting and flipping off next to a sign that reads “Silence and Respect” at Arlington National Cemetery. Despite explaining what was going on in the picture, people decided to take it as disrespecting the people buried there and (Of course!) the military in general.

I’ve had to deal with this on Frankly Curious. I used to talk about the military as bluntly as I do the police. But I’ve been beaten down. It isn’t that my opinions have changed, but it just isn’t worth the bother. So I’m more careful when I talk about this subject, because there is an army of people out there just looking for something they can pounce on. To me it goes right along with those yellow ribbons. We don’t provide real respect in terms of using the military as little as possible and paying soldiers well. So it isn’t surprising that they would be always on the lookout for disrespect. But their wrath is ill directed at me and Lindsey Stone.

Two years ago, I got in a bit of a tussle on Twitter. A woman had tweeted out, “Is it me, lots of Bay Area tweeters going on about their day, tweeting stupid stuff. A plane crashed, lots of people impacted.” This enraged me. She was shaming the wider world because it wasn’t focused on what she was focused on. Ultimately, three people died in that crash — one because she was run over by a rescue vehicle. But I wasn’t nice about my anger. I tweeted, “About 2000 people died of malaria today. Why are you so focused on these people at SFO?” It wasn’t taken well. The whole thing still strikes me as bizarre. Apparently, a lot of people think that we must all obsess about whatever the television news is currently reporting.

Ultimately, I don’t think that Jon Ronson gets to the bottom of why we all are so inclined to shame each other. He posits that all of our personal shames make us shame others. I think it is more about control. But it hardly matters. Most of the stuff that people are publicly shamed for is forced. The shaming is a given, and the reason is reverse engineered. The only solution is for us all to show more mercy. But that is the solution to most problems in the world. I’m not hopeful. It doesn’t seem like Jon Ronson is either.

Media as Stenographers for Official Power

Glenn GreenwaldIn the Boston area yesterday, the FBI and Boston Police Department (BPD) shot and killed a 26-year-old black Muslim man, Usaamah Abdullah Rahim, after they stopped him at a bus stop at 7:00 am in front of a CVS drug store in order to question him…

NBC Nightly News led its broadcast with this story, and the video featuring a hysterical Lester Holt and Pete Williams has to be seen to be believed. “Good evening,” said the anchor. “We start here tonight with a deadly confrontation outside Boston between law enforcement and a man they feared might be preparing to launch an ISIS-inspired attack.” Even after killing the “terror suspect,” Holt intoned that agents are “still on the move in the Boston area, trying to piece together what he may have been involved with, and whether others might be connected to it.”

The story then narrated by Williams is told from the perspective of the FBI and the BPD. We learn that unnamed officials told NBC News they “were concerned Rahim had become radicalized by ISIS-inspired social media, and was actively considering an attack on police officers in Boston within the next few days, in a city still traumatized by the terrorist bombing of the 2013 Boston Marathon.” The agents approached him “fearing he was preparing to take action soon.” Police are now investigating others Rahim was “in touch with who might also have been radicalized by ISIS-inspired propaganda.” Officials, Williams announced at the end of his report, “believe they disrupted a potential terror plot, but now they’re detaining other people for questioning… to see whether anyone else was involved in his plot, or whether attacks are planned.”

So just like that, major American media outlets converted someone about whom they knew nothing into a dangerous terrorist in the middle of executing an ISIS-related terror plot. And the heroic law enforcement officials didn’t just kill an ISIS Terrorist on the loose in America, but likely disrupted a vicious sleeper cell. All of that was achieved without a shred of evidence or investigation: just mindlessly repeating the self-justifying claims of the police agents who had just killed him.

—Glenn Greenwald
In Boston, Media Again Trash a Police Shooting Victim by Uncritically “Reporting” Police Accusations

Social Security Lockbox Scare Tactic

LockboxMy father has been watch The Roosevelts. And in relationship to it, he told me, “Roosevelt wanted there to be a lockbox on Social Security.” I sighed heavily. Suddenly, I was transported back into the 2000s and 1990s — the last two periods when everyone was talking about the Social Security lockbox. The problem with it is that it is meaningless. Actually, it is worse than meaningless. The idea of a lockbox is put forward to scare people into thinking that the federal government is stealing money out of the Social Security trust fund in order to pay for Cadillacs for welfare queens.

You probably remember George W Bush, in 2005 after his re-election, going around telling people that there was no money in the trust fund. It was just paper — IOUs! Of course, that’s all cash is. But more to the point, that’s all that bank accounts are. I don’t have money in the bank. I have a number on a ledger. In effect, I have an IOU from the bank. And if the bank goes out of business, I would lose that money except for the fact that that the government guarantees it. So what exactly did Bush think would be in the trust fund? Piles of cash?

It turns out that the Social Security Trust fund is currently worth over $2.5 trillion. There is only about half that much in total cash in the United States. So what are we to do with this money? It needs to be invested one way or another. So the Social Security Administration (SSA) does what everyone the world over does with money they need safely stored: they invest it in US government securities. The fact that one government program is loaning its money to another part of the government does not mean that the money is being stolen.

Think about it with regard to individual investors. They generally have a mix of stocks and bonds. Those bonds generally include a lot of US government bonds. No one — Really: no one — says that these investors are just being ripped off by the federal government because it spends the money that it borrows. Rather, everyone agrees that US government debt is about the safest investment in the world. How safe? Right now, US 10 Year Treasury bonds have a yield of 2.31%. That’s with an average inflation rate last year of 1.6%. (Note: inflation has basically been zero thus far this year.)

So what exactly is the lockbox supposed to do? It is a “solution” to a nonexistent problem. Suppose we hired Donald Trump to administer the Social Security program. All the money coming in would go to him. He would then have to do something with that money. I don’t know what he would do with it, and given my low opinion of him, I would expect the worst. But even aggressive investors would take a large fraction of that money and put it into US government securities. This is exactly what the SSA does. Money isn’t being stolen from Social Security. There is no need for a lockbox and people who talk about it are just trying to scare you.

Mary Jo White Is Doing Obama’s Will: Nothing

Mary Jo WhiteIt seems like only yesterday that I was warning that Mary Jo White would be a disaster as head of the SEC. But it was actually two and half years ago. I warned that she was just another finance apologist who only went after small banks. I quoted Matt Taibbi then, “Obama is not going to clean up financial corruption by pinning a sheriff’s badge on Wall Street’s protector-in-chief.” But I responded, “Obama would only pin a sheriff’s badge on Wall Street’s protector-in-chief.” But the fact that Obama has only ever been willing to deal with Wall Street with kid gloves will not stop me from pointing out that it’s wrong.

Thankfully, we have Elizabeth Warren. Michael Hiltzik reported Wednesday, Elizabeth Warren Declares War on Mary Jo White’s SEC — and It’s About Time. He noted that she “excoriated White with a 13-page letter that accused the SEC chair of slow-walking desperately needed rules and regulations, reneging on her commitments to ride herd on criminal activity by corporations, and even lying to Warren about the status of upcoming regulations.” Just as we expected. After the fight between Warren and Obama over the Trans-Pacific Partnership, I wonder if Obama will come out and say the truth, “She’s doing exactly what I want: nothing.”

The letter is quite a read. It seems personal. In particular, I was stuck by the following comment. After saying she was disappointed that White hadn’t lived up to here promises at her confirmation hearing, Warren wrote, “We have continued to talk, and you and I met personally on Wednesday, May 21, 2015, to discuss these issues. At that meeting, however, you said little that indicated that you would be changing your practices at the SEC.” I’m sure she didn’t! It is some big bank that is going to give White a job after she leaves the SEC — not the American people and certainly not Elizabeth Warren. Sadly, this was all predicted.

Warren is concerned about a lot of different stuff. What I’m most familiar with is the fact that still, except in the most extreme cases, the SEC is allowing banks to get away with a fine and no admission of wrongdoing. That was specifically something White had claimed she would clamp down on. In addition to this, White doesn’t seem that eager to implement Dodd-Frank. That’s not surprising, because of who also isn’t interested in implementing Dodd-Frank: the people White is supposed to be policing, also know as: her future employers.

One aspect that I was totally unaware of was this thing WKSI: Well Known Security Issuer. WKSIs get to take shortcuts through SEC processes. But they are supposed to only be available to banks who behave. You may remember an article I wrote last week, Prison for Soccer Villains, Fines for Bank Villains. In it, I discussed five banks that had recently admitted to criminal activity rather similar to organized crime. Well, that great team player Mary Jo White provided those banks with waivers so that they could maintain their WKSI status. You know, someone convicted of possessing a joint five years ago, can’t get a job, but banks responsible for billions of dollars in malfeasance can’t be held accountable. That would be unfair! It might also get in the way of Mary Jo White’s future employment.

What’s really interesting about these WKSI waivers for criminal misconduct is that they are a knew thing — the first one was issued in 2013. What it looks like is that the moment that the SEC had to start finding some (big) banks guilty of criminal misconduct, then the SEC figured out a way to make it meaningless. By this kind of reasoning, we could sentence bad bankers to life in prison, and Mary Jo White would be there to waive the penalty.

White has responded. Basically, she says that the SEC is doing great work and Warren is mischaracterizing it. But as Hiltzik pointed out, Warren is hardly the only banking watchdog who is unhappy with White. In fact, he quoted Yves Smith at Naked Capitalism, “White… specialized in empty promises, foot dragging, and financial services cronyism.” Which, as I said, is what Obama wanted all along. Mary Jo White didn’t become head of the SEC by accident; she got the post because Obama knew she would do what he wanted. And that is as little as possible. In that regard, she’s been fantastic.

Morning Music: Gordon Lightfoot

Don Quixote - Gordon LightfootA few days ago, James recommended Gordon Lightfoot for our Morning Music. We had discussed the darkness of “If You Could Read My Mind.” Maybe some day I will do that I song. I’m very fond of it. But I need to make my peace with the song “Don Quixote.” It’s a pretty song. And I quite like the lyrics. What I don’t like is the title. It makes me think that Gordon Lightfoot had never read Don Quixote.

Now I know better than most that Don Quixote means many different things. There is an often repeated quote that every man should read the novel three times in his life: when young, middle aged, and old — because it will mean different things each time. That’s very true. For myself, Don Quixote doesn’t mean anything in particular. There are simply elements that stand out more some times than others.

But I don’t see how Gordon Lightfoot’s song has anything to do with the book. The song is about the parts that we play in life and how we are really very complex. The horseman stands above this, accepting his contradictions. And part of this is, “Tilting at the windmills passing.” That’s the only reference to Don Quixote. But Don Quixote tilts at windmills because he is hallucinating. And he is hallucinating because he has totally lost his grip on reality and submerged himself into the part of a knight errant.

But “Don Quixote” is a good song. I just wish he would have given it a different title. But maybe I’m the one who’s wrong. If someone can explain to me why the song is corrected titled, I’d very much appreciate it.