I think it was 2006 where there was a concerted effort to get Bean out.
You've got it, she is one corporate puppet.
She voted for CAFTA, wants more H-1Bs, pretty much whatever a corporate lobbyist wants....I guess her door is always open.
But it needs to be a concentrated effort and frankly the DNC should endorse a primary opponent against her.
Once one has that political machine in their pocket, it's so difficult to get rid of a bad apple.
Then, of course in the general you get some whacked out corporate Republican against some corporate puppet Dem...
so no choice there.
This is the same fight as the get rid of Lieberman attempts.
Even when you beat them in the primary, they come roaring back with all of their corporate money.
Although his Dem opponent, Ned Lamont, I recall your classic mealy mouthed sort of domestic policies which implies more bad trade deals, insane immigration policies, nothing done on outsourcing, vague mealy mouth on education, etc...
It was all about Iraq and Lieberman's defense contractor/war hawk agendas.
which probably didn't help.
Bean on the other hand, had a strong Populist against her and they just, with their political insider machine plus corporate money, crushed him and as I recall he had a great set of policy positions.
I just went to your blog and read your analysis. Very good addition and I esp. like the conclusion the government just "bought" a good GDP report.
What I find astounding is precisely how giving a $4500 rebate instead manages to add $24k in costs to each vehicle.
Your government "at work"?
Just so you know, EP is a community blog, so if you would like, you can create an account and cross post (see the User guide on a few requests to "fake out" the Google for it doesn't like duplicates on the Internets) here.
Instead of linking to a link to another link, how about reading the testimony itself and pulling out some juicy quotes as to why the House Financial Services Committee would cut him off.
With the idea of creation of a federal venture capital fund. But the stipulations would have to be U.S. citizen/perm hires only, no outsourcing and to start new U.S. businesses.
I think for infrastructure they need a WPA. As far as I know (and a detailed post on the structure of the WPA, what worked, what didn't would be damn interesting) ....
but as far as I know the WPA did direct hires, managed the projects. None of this no-bid contracts to companies who are busy offshore outsourcing jobs, using illegal labor and also who had huge overhead in costs and run way over on projects.
We could use some details on this. I've dug around some into the SBA (which to me is a maze of confusion and "no" on even trying to figure out that system) as well as easier methods to bid on Fed/State contracts for small business.
But I don't see any reason government itself cannot manage and also hire directly people to work on infrastructure.
Maybe an infrastructure Czar (sic, not)....I'm not sure but they just managed to kill the F-22, which is a great example on how through contracts and other political insanity one can spend billions of U.S. taxpayer money and basically get nothing done and nothing in return.
Most engineers I know are strong believers in diversity, equality and meritocracy.
But giving away U.S. jobs and then insulting people who complain and stand up for U.S. jobs, careers is absurd and just another propaganda weapon in my view.
As an EE in Silicon Valley, I have *much* experience with how H1Bs and other "guest workers" are laying waste to the ability of US citizens to get engineering jobs. I am *so sick* of hearing "we don't have talent here in the US."
It's all about cutting wages. I've been told in past jobs that me and my colleges couldn't apply for job postings because "then they wouldn't be able to bring in H1bs". This from the HR manager.
I've seen how businesses interview dozens of people, knowing full well they won't be hired because they don't match 100% a profile created to match only 1 person in the world: the person they want to bring in from India.
I've had several Indian H1Bs ask me, "How do you American's make ends meet? After paying [listing all his bills] there's no money left." I didn't have the heart to tell them they're getting paid 40% of what is necessary to live here.
Don't get me wrong, nearly every Indian, Mexican, Chinese, etc. I've met are honest, nice, polite and hard-working. They're great people. But America needs to wake up to the fact that just about anyone else in the world can do any given job as good or better than we can.
As a country, we have to realize that "cheaper at any ocst" isn't cheap in the long run. Keep giving away our jobs and this "recession" is only the beginning.
I questions whether the private sector will be able to generate enough jobs just to keep up with inflation for years to come. And forget about it (ever) if we don't change our global engagements.
A national infrastructure banks would serve two purposes 1) using capital markets to maximize gov't capital dollars and 2) a potentially more efficient allocation of resources.
For example, the obvious one is to do a WPA focused on infrastructure that is in desperate need. Most of the Stimulus went to just repaving and widing roads, not the bridges, dams, waterworks and so on that are in dire need.
Barney Frank should have a hearings on whether TBTF/JTB are good or is there some economic benefit to having these financial conglomerates and then decide whether this proposal or something like Glass Steagall is the best approach.
Right now the ASSUMPTION is that TBTF is good for the economy.
Although I'm glad that a mainstream source like BusinessWeek published this article, more stories like these seem to be coming out now only because even the most optimistic economists, politicians and journalists can tell we have an unemployment problem. This article could have easily been published two or three years ago. Even Vivek Wadwha came out with studies a few years ago saying engineering students were going into finance and marketing.
Hal Salzman has done a lot of good research on the subject in the past, and I'm glad to see he's still producing good work. It's just so discouraging that we're caught in a rut where both sides keep essentially churning out the same studies over and over again. Employer groups keep churning out reports about "shortages", and people like Salzman have to keep coming up with brand new reports just to stave off criticism that the reports they produced the previous year are obsolete.
called narrow banking and it has been mentioned here before. John Kay a columnist for FT talks about it a lot.
We need to restore narrow banking – to ensure that the casino cannot again jeopardise the utility. That means ringfencing the payments system, the routine deposit taking and the lending to consumers and to small and medium-sized businesses. There are several measures that might help towards this objective and a combination is probably appropriate. I suspect the outcome will now be best achieved by taking the failed banks into direct public ownership for a period.
Measures to re-establish narrow banking will necessarily involve the divestiture or closure of the investment banking activities of retail banks. Such restrictions will provide an opportunity to reintroduce measures of structural separation between fundamentally incompatible wholesale financial activities. The causes of the crisis, and the remedial measures now required, are embedded in the structure of the modern financial services industry. Addressing these structural issues, which will require high political courage, is a prerequisite of policies to prevent a similar crisis re-emerging a decade from now.
Yes, but our TEMPORARY GUEST WORKERS want to believe there is a shortage so they can convince Congress to grant them all green cards and thus become PERMANENT RESIDENTS. You had to know this was going to happen. Congress told the American people that the guest worker visas were only TEMPORARY to solve severe labor shortages but so many become PERMANENT by getting green cards.
In fact, one hilarious suggestion was that a solution to the over-supply of housing in the U.S. was to give all the guest workers a green card. Talk about arrogance:
from WSJ Presents Yet More Utter Nonsense from the National Association of Realtors
Maybe a better idea is to offer young immigrants, with cash and education, citizenship if they come and buy a house.
Remember the apocalyptic retirement bubble where the needs of the old would crush the young because of the decline in the ratio of working to retired people.
Voila`, housing and working age population thing solved.
What ? Whadaya mean there aren't enough jobs around for the current workforce, let alone an influx of foreigners. Why the company I work for can't find American workers (engineering). The place is full of green card engineers.
How did that happen? Is this a subcommittee?
I think it was 2006 where there was a concerted effort to get Bean out.
You've got it, she is one corporate puppet.
She voted for CAFTA, wants more H-1Bs, pretty much whatever a corporate lobbyist wants....I guess her door is always open.
But it needs to be a concentrated effort and frankly the DNC should endorse a primary opponent against her.
Once one has that political machine in their pocket, it's so difficult to get rid of a bad apple.
Then, of course in the general you get some whacked out corporate Republican against some corporate puppet Dem...
so no choice there.
This is the same fight as the get rid of Lieberman attempts.
Even when you beat them in the primary, they come roaring back with all of their corporate money.
Although his Dem opponent, Ned Lamont, I recall your classic mealy mouthed sort of domestic policies which implies more bad trade deals, insane immigration policies, nothing done on outsourcing, vague mealy mouth on education, etc...
It was all about Iraq and Lieberman's defense contractor/war hawk agendas.
which probably didn't help.
Bean on the other hand, had a strong Populist against her and they just, with their political insider machine plus corporate money, crushed him and as I recall he had a great set of policy positions.
I just went to your blog and read your analysis. Very good addition and I esp. like the conclusion the government just "bought" a good GDP report.
What I find astounding is precisely how giving a $4500 rebate instead manages to add $24k in costs to each vehicle.
Your government "at work"?
Just so you know, EP is a community blog, so if you would like, you can create an account and cross post (see the User guide on a few requests to "fake out" the Google for it doesn't like duplicates on the Internets) here.
Melissa Bean needs to go. I think he was cut off because everyone in that room knew how the legislation was going to end up - like Swiss Cheese.
RebelCapitalist.com - Financial Information for the Rest of Us.
Rebel,
Instead of linking to a link to another link, how about reading the testimony itself and pulling out some juicy quotes as to why the House Financial Services Committee would cut him off.
Point of Interest…
Morning headlines in the Rochester, NY "Democrat and Chronicle" (Gannett paper):
1. “U.S. economy shows growth in third quarter” - with the same accompanying bar chart as above.
2. “12,000 KODAK EMPLOYEES AND THOUSANDS MORE RETIREES MIGHT PAY MORE FOR HEALTH CARE IN 2010”
I feel like Alice in Wonderland: "What's down is up. What's up is down."
Good post, but combine that with the $24,000 per clunker reported by edmunds and (1) not only did we go further in debt, (2) Q4 should be very low.
My take is http://learnecon.blogspot.com/2009/10/government-purchases-35-growth-rat...
With the idea of creation of a federal venture capital fund. But the stipulations would have to be U.S. citizen/perm hires only, no outsourcing and to start new U.S. businesses.
I think for infrastructure they need a WPA. As far as I know (and a detailed post on the structure of the WPA, what worked, what didn't would be damn interesting) ....
but as far as I know the WPA did direct hires, managed the projects. None of this no-bid contracts to companies who are busy offshore outsourcing jobs, using illegal labor and also who had huge overhead in costs and run way over on projects.
We could use some details on this. I've dug around some into the SBA (which to me is a maze of confusion and "no" on even trying to figure out that system) as well as easier methods to bid on Fed/State contracts for small business.
But I don't see any reason government itself cannot manage and also hire directly people to work on infrastructure.
Maybe an infrastructure Czar (sic, not)....I'm not sure but they just managed to kill the F-22, which is a great example on how through contracts and other political insanity one can spend billions of U.S. taxpayer money and basically get nothing done and nothing in return.
Most engineers I know are strong believers in diversity, equality and meritocracy.
But giving away U.S. jobs and then insulting people who complain and stand up for U.S. jobs, careers is absurd and just another propaganda weapon in my view.
As an EE in Silicon Valley, I have *much* experience with how H1Bs and other "guest workers" are laying waste to the ability of US citizens to get engineering jobs. I am *so sick* of hearing "we don't have talent here in the US."
It's all about cutting wages. I've been told in past jobs that me and my colleges couldn't apply for job postings because "then they wouldn't be able to bring in H1bs". This from the HR manager.
I've seen how businesses interview dozens of people, knowing full well they won't be hired because they don't match 100% a profile created to match only 1 person in the world: the person they want to bring in from India.
I've had several Indian H1Bs ask me, "How do you American's make ends meet? After paying [listing all his bills] there's no money left." I didn't have the heart to tell them they're getting paid 40% of what is necessary to live here.
Don't get me wrong, nearly every Indian, Mexican, Chinese, etc. I've met are honest, nice, polite and hard-working. They're great people. But America needs to wake up to the fact that just about anyone else in the world can do any given job as good or better than we can.
As a country, we have to realize that "cheaper at any ocst" isn't cheap in the long run. Keep giving away our jobs and this "recession" is only the beginning.
I questions whether the private sector will be able to generate enough jobs just to keep up with inflation for years to come. And forget about it (ever) if we don't change our global engagements.
A national infrastructure banks would serve two purposes 1) using capital markets to maximize gov't capital dollars and 2) a potentially more efficient allocation of resources.
RebelCapitalist.com - Financial Information for the Rest of Us.
all over the place but the money clearly could be moved offshore by distributing to just companies.
Amazing isn't it? And people are wondering how the Stimulus could have helped GDP when the unemployment rate is at 9.7%.
This is how!
Pretty stupid and incredible isn't it? U.S. taxpayers helping Stimulate....China's economy.
For example, the obvious one is to do a WPA focused on infrastructure that is in desperate need. Most of the Stimulus went to just repaving and widing roads, not the bridges, dams, waterworks and so on that are in dire need.
in a way that starts with tax incentives to provide the initial shot followed by more employment intensive stimulus. I hope.
RebelCapitalist.com - Financial Information for the Rest of Us.
EconomPic has a beyond belief graph here showing just how much the auto output changed Q3.
The good and the bad. The DPI and savings numbers are very interesting.
RebelCapitalist.com - Financial Information for the Rest of Us.
Barney Frank should have a hearings on whether TBTF/JTB are good or is there some economic benefit to having these financial conglomerates and then decide whether this proposal or something like Glass Steagall is the best approach.
Right now the ASSUMPTION is that TBTF is good for the economy.
RebelCapitalist.com - Financial Information for the Rest of Us.
Although I'm glad that a mainstream source like BusinessWeek published this article, more stories like these seem to be coming out now only because even the most optimistic economists, politicians and journalists can tell we have an unemployment problem. This article could have easily been published two or three years ago. Even Vivek Wadwha came out with studies a few years ago saying engineering students were going into finance and marketing.
Hal Salzman has done a lot of good research on the subject in the past, and I'm glad to see he's still producing good work. It's just so discouraging that we're caught in a rut where both sides keep essentially churning out the same studies over and over again. Employer groups keep churning out reports about "shortages", and people like Salzman have to keep coming up with brand new reports just to stave off criticism that the reports they produced the previous year are obsolete.
TARP on Steroids and points out much worse elements. There is a hearing tomorrow and I hope to write it up (on this bill).
called narrow banking and it has been mentioned here before. John Kay a columnist for FT talks about it a lot.
RebelCapitalist.com - Financial Information for the Rest of Us.
Yes, but our TEMPORARY GUEST WORKERS want to believe there is a shortage so they can convince Congress to grant them all green cards and thus become PERMANENT RESIDENTS. You had to know this was going to happen. Congress told the American people that the guest worker visas were only TEMPORARY to solve severe labor shortages but so many become PERMANENT by getting green cards.
In fact, one hilarious suggestion was that a solution to the over-supply of housing in the U.S. was to give all the guest workers a green card. Talk about arrogance:
from WSJ Presents Yet More Utter Nonsense from the National Association of Realtors
Maybe a better idea is to offer young immigrants, with cash and education, citizenship if they come and buy a house.
Remember the apocalyptic retirement bubble where the needs of the old would crush the young because of the decline in the ratio of working to retired people.
Voila`, housing and working age population thing solved.
What ? Whadaya mean there aren't enough jobs around for the current workforce, let alone an influx of foreigners. Why the company I work for can't find American workers (engineering). The place is full of green card engineers.
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