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Dayen’s Roundup for October 13, 2011

Eager readers devour Grandpa Dayen's Roundup (photo: Jack Delano)

Good to know that the jobs crisis is over now that we passed three “free” trade deals and patent reform.

• California Democrats sent a sharply worded letter to the President to deal with the foreclosure crisis. Meanwhile, Occupy Wall Street shut down a Brooklyn foreclosure auction today. Who was more effective?

• Today was National Media Gets to Rip Herman Cain’s 9-9-9 Plan Day. It’s eminently rippable – I’ve done it myself – but it was hard to see it as anything but a coordinated attack. Especially when you see conservative establishment pillar Grover Norquist come out against it.

• And yes, it’s completely worth ripping Cain’s plan, since it’s not a plan at all and Cain doesn’t seem to even know how it will work. Maybe he should play some SimCity and find out.

• President Obama raised $70 million in the third quarter, but that includes the DNC’s figures as well.

• Interesting to see this parallel between Occupy Wall Street and Coxey’s Army, but the author misses that lots of the labor movement’s leading lights came out of the Coxey’s Army movement and won tangible gains for American workers.

• The point of Operation Twist was to lower long-term interest rates. After initially going down, 30-year fixed mortgage rates are headed back up. So much for twisting.

Good interivew by Joan Walsh with the man who blocked John Lewis from speaking at Occupy Atlanta, turning a caricature into a fully rendered person.

• JPMorgan Chase is struggling on $4.26 billion a quarter. I don’t know how they’ll survive.

• Yes, the Tea Party was sold out by their representatives on the trade deals, but Occupy Wall Street isn’t even a month old, so isn’t it a bit much to term them failures, especially when large majorities of Democrats voted against the trade pacts?

• Without any help from monetary or fiscal policy, you can bet that layoffs will rise.

• Another scam involving News Corp. And they seemed like such upstanding individuals.

• I think you can clearly see the goals of the education “reform” movement from the fact that they are cheering the demise of the American Jobs Act and the $30 billion it would have provided to schools. They need schools starved for cash so they can blackmail them into reform measures, you see. [Cont’d]

• Small businesses, engines of recovery, can’t stand corporate tax havens, and they won’t like a repatriation tax holiday that would facilitate them.

• Ben Nelson breaking new ground in campaign finance corruption.

• The Government Accountability Office decided that the Postal Service isn’t actually owed a big refund from pre-funding 75 years of retirement benefits, something I’m sure Democrats will dispute.

• Elizabeth Warren’s bio spot is pretty compelling.

• It’s not withdrawal in Iraq so much as it’s a change in uniform.

• Jon Huntsman sounds like he wants to break up the big banks. Well, that’s 1% of the Republican Party in favor, then.

• If all HAMP dollars were put into foreclosure mediation programs, the country would be much better off today.

• Orrin Hatch spoke out for drug rebates for Medicare Part D, pronouncing that the government pays too much for drugs under that program. Then the pharma lobby got to him.

• The US should not be selling arms to Bahrain that probably will be used to repress their own citizens.

• Support for the death penalty in the US is at its lowest point in 39 years, but that still means that it has 61% support.

• A history lesson on corporate personhood from Ryan Grim and Mike Sacks, employees of large corporation AOL.

• Raj Rajaratnam gets 11 years for his insider trading crimes.

• Yahoo pulls out of the US Chamber of Commerce, joining a number of tech firms over the past few years.

• Florida Governor Rick Scott wins the award for jerkiest dad of the year.

• Occupy Wall Street gets the coveted Lech Walesa endorsement. I did not know he was still alive.

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David Dayen

David Dayen