How Wall Street Robs Public Workers

The Article: Looting the Pension Funds by Matt Taibbi in Rolling Stone.

The Text: In the final months of 2011, almost two years before the city of Detroit would shock America by declaring bankruptcy in the face of what it claimed were insurmountable pension costs, the state of Rhode Island took bold action to avert what it called its own looming pension crisis. Led by its newly elected treasurer, Gina Raimondo – an ostentatiously ambitious 42-year-old Rhodes scholar and former venture capitalist – the state declared war on public pensions, ramming through an ingenious new law slashing benefits of state employees with a speed and ferocity seldom before seen by any local government.

Called the Rhode Island Retirement Security Act of 2011, her plan would later be hailed as the most comprehensive pension reform ever implemented. The rap was so convincing at first that the overwhelmed local burghers of her little petri-dish state didn’t even know how to react. “She’s Yale, Harvard, Oxford – she worked on Wall Street,” says Paul Doughty, the current president of the Providence firefighters union. “Nobody wanted to be the first to raise his hand and admit he didn’t know what the fuck she was talking about.”

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The First Victims Of Obamacare

No matter where you go in the industrialized world, the menace of government-mandated or issued healthcare coverage exists. The horror!

Jon Stewart On Mitch McConnell

Apt point, Jon. Apt. Coming to an agreement with a rabid pit bull would be easier than with McConnell.

The Reign Of Morons

The Article: The Reign Of Morons Is Here by Charles P. Pierce in Esquire.

The Text: Only the truly naive can be truly surprised.

Only the truly child-like can have expected anything else.

In the year of our Lord 2010, the voters of the United States elected the worst Congress in the history of the Republic. There have been Congresses more dilatory. There have been Congresses more irresponsible, though not many of them. There have been lazier Congresses, more vicious Congresses, and Congresses less capable of seeing forests for trees. But there has never been in a single Congress — or, more precisely, in a single House of the Congress — a more lethal combination of political ambition, political stupidity, and political vainglory than exists in this one, which has arranged to shut down the federal government because it disapproves of a law passed by a previous Congress, signed by the president, and upheld by the Supreme Court, a law that does nothing more than extend the possibility of health insurance to the millions of Americans who do not presently have it, a law based on a proposal from a conservative think-tank and taken out on the test track in Massachusetts by a Republican governor who also happens to have been the party’s 2012 nominee for president of the United States. That is why the government of the United States is, in large measure, closed this morning.

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The Problem Of Intervention In One Cartoon

The real issue, of course, is not when we hope to latch on to Granny’s arm; it’s when we abandon her when things get a little sticky.