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	<title>Our Next Economy</title>
	<atom:link href="http://www.ournexteconomy.com/?feed=rss2" rel="self" type="application/rss+xml" />
	<link>http://www.ournexteconomy.com</link>
	<description>by John Passacantando</description>
	<pubDate>Wed, 28 Jul 2010 19:26:22 +0000</pubDate>
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			<item>
		<title>What Happened to the Climate Bill?</title>
		<link>http://www.ournexteconomy.com/?p=290</link>
		<comments>http://www.ournexteconomy.com/?p=290#comments</comments>
		<pubDate>Wed, 28 Jul 2010 19:26:22 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Global Warming]]></category>

		<category><![CDATA[President Obama]]></category>

		<category><![CDATA[climate change]]></category>

		<category><![CDATA[federal legislation]]></category>

		<category><![CDATA[Lee Wasserman]]></category>

		<category><![CDATA[The New York Times]]></category>

		<category><![CDATA[The New York Times Co]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=290</guid>
		<description><![CDATA[Two important pieces to see here on the collapse of a Federal climate bill.  The first one by Lee Wasserman that ran in The New York Times on Monday.  The second piece is from Politico with Pelosi giving some sense of the consequences of the failure.  Not good.
]]></description>
			<content:encoded><![CDATA[<p>Two important pieces to see here on the collapse of a Federal climate bill.  The first one by Lee Wasserman that ran in <em><a href="http://www.nytimes.com/2010/07/26/opinion/26wasserman.html">The New York Times</a></em> on Monday.  The second piece is from <em><a href="http://www.politico.com/blogs/bensmith/0710/Aides_Pelosi_chides_Reid_on_energy_bill.html?showall">Politico</a></em> with Pelosi giving some sense of the consequences of the failure.  Not good.</p>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=290</wfw:commentRss>
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		<title>Oil Addiction: Forty Years of Oil Politics in Six Minutes</title>
		<link>http://www.ournexteconomy.com/?p=288</link>
		<comments>http://www.ournexteconomy.com/?p=288#comments</comments>
		<pubDate>Thu, 17 Jun 2010 14:03:23 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[President Obama]]></category>

		<category><![CDATA[oil addiction]]></category>

		<category><![CDATA[BP]]></category>

		<category><![CDATA[British Petroleum]]></category>

		<category><![CDATA[Jon Stewart]]></category>

		<category><![CDATA[oil spill]]></category>

		<category><![CDATA[The Daily Show]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=288</guid>
		<description><![CDATA[This is a wonderful clip from the Daily Show with footage of the last eight US Presidents speaking about the need to cure our addiction to oil.



The Daily Show With Jon Stewart
Mon - Thurs 11p / 10c


An Energy-Independent Future


www.thedailyshow.com









Daily Show Full Episodes
Political Humor
Tea Party







]]></description>
			<content:encoded><![CDATA[<p>This is a wonderful clip from the Daily Show with footage of the last eight US Presidents speaking about the need to cure our addiction to oil.</p>
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<td style="padding:2px 1px 0px 5px;"><a style="color:#333; text-decoration:none; font-weight:bold;" href="http://www.thedailyshow.com" target="_blank">The Daily Show With Jon Stewart</a></td>
<td style="padding:2px 5px 0px 5px; text-align:right; font-weight:bold;">Mon - Thurs 11p / 10c</td>
</tr>
<tr style="height: 14px;" valign="middle">
<td style="padding:2px 1px 0px 5px;" colspan="2"><a style="color:#333; text-decoration:none; font-weight:bold;" href="http://www.thedailyshow.com/watch/wed-june-16-2010/an-energy-independent-future" target="_blank">An Energy-Independent Future</a></td>
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<td style="padding: 2px 5px 0px 5px; width: 360px; overflow: hidden; text-align: right;" colspan="2"><a style="color:#96deff; text-decoration:none; font-weight:bold;" href="http://www.thedailyshow.com/" target="_blank">www.thedailyshow.com</a></td>
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<td style="padding:0px;" colspan="2"><object width="360" height="301" data="http://media.mtvnservices.com/mgid:cms:item:comedycentral.com:312470" type="application/x-shockwave-flash"><param name="bgcolor" value="#000000" /><param name="flashvars" value="autoPlay=false" /><param name="src" value="http://media.mtvnservices.com/mgid:cms:item:comedycentral.com:312470" /><param name="wmode" value="window" /><param name="allowfullscreen" value="true" /></object></td>
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<td style="padding: 3px; width: 33%;"><a style="font:10px arial; color:#333; text-decoration:none;" href="http://www.thedailyshow.com/full-episodes/" target="_blank">Daily Show Full Episodes</a></td>
<td style="padding: 3px; width: 33%;"><a style="font:10px arial; color:#333; text-decoration:none;" href="http://www.indecisionforever.com" target="_blank">Political Humor</a></td>
<td style="padding: 3px; width: 33%;"><a style="font:10px arial; color:#333; text-decoration:none;" href="http://www.thedailyshow.com/videos/tag/Tea+Party" target="_blank">Tea Party</a></td>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=288</wfw:commentRss>
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		<item>
		<title>Why Didn&#8217;t We Solve Climate Change?</title>
		<link>http://www.ournexteconomy.com/?p=285</link>
		<comments>http://www.ournexteconomy.com/?p=285#comments</comments>
		<pubDate>Wed, 09 Jun 2010 17:42:47 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Corporate giveaways]]></category>

		<category><![CDATA[Duke Energy]]></category>

		<category><![CDATA[Global Warming]]></category>

		<category><![CDATA[climate change]]></category>

		<category><![CDATA[Bloomberg Businessweek's Deputy]]></category>

		<category><![CDATA[Eric Pooley]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=285</guid>
		<description><![CDATA[When my libertarian friends tell me that solving climate change is just another excuse for big government to hand over tax dollars to big corporations I disagree.  Yet Bloomberg Businessweek&#8217;s Deputy Editor,Eric Pooley, just published a chapter of his new book, The Climate War, and it will make your skin crawl.  The polluters wrote the bill, [...]]]></description>
			<content:encoded><![CDATA[<p>When my libertarian friends tell me that solving climate change is just another excuse for big government to hand over tax dollars to big corporations I disagree.  Yet Bloomberg Businessweek&#8217;s Deputy Editor,Eric Pooley, just published a <a href="http://www.businessweek.com/magazine/content/10_24/b4182058740829.htm">chapter</a> of his new book, <a href="http://www.amazon.com/Climate-War-Believers-Power-Brokers/dp/140132326X/ref=sr_1_1?ie=UTF8&amp;s=books&amp;qid=1276104225&amp;sr=8-1">The Climate War</a>, and it will make your skin crawl.  The polluters wrote the bill, the greenest politicians put it in play and a few environmentalists said it was the answer.  It isn&#8217;t.  Ready for a populist movement yet?  Didn&#8217;t think so.  The Tea-Baggers are running their own movement right now and it&#8217;s the racist kind. It&#8217;s going to be a long way home from here.</p>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=285</wfw:commentRss>
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		<item>
		<title>BP Gulf Spill</title>
		<link>http://www.ournexteconomy.com/?p=282</link>
		<comments>http://www.ournexteconomy.com/?p=282#comments</comments>
		<pubDate>Tue, 25 May 2010 18:07:38 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Greenpeace]]></category>

		<category><![CDATA[climate change]]></category>

		<category><![CDATA[oil companies]]></category>

		<category><![CDATA[Fast Company]]></category>

		<category><![CDATA[potential  breakthrough solution]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=282</guid>
		<description><![CDATA[Don&#8217;t miss this Fast Company article on the Greenpeace rebranding contest for BP.  Plus, a potential breakthrough solution to the crisis.
]]></description>
			<content:encoded><![CDATA[<p>Don&#8217;t miss this <a href="http://www.fastcompany.com/1651496/greenpeace-to-the-world-give-us-your-best-meaning-your-worst-bp-logo">Fast Company article</a> on the Greenpeace rebranding contest for BP.  Plus, a potential <a href="http://www.smirkingchimp.com/thread/andy-borowitz/29009/experts-propose-plugging-oil-leak-with-bp-executives">breakthrough solution</a> to the crisis.</p>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=282</wfw:commentRss>
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		<item>
		<title>Not Right, Not Left, Not Tea Party, Not Liberal</title>
		<link>http://www.ournexteconomy.com/?p=280</link>
		<comments>http://www.ournexteconomy.com/?p=280#comments</comments>
		<pubDate>Wed, 19 May 2010 14:00:32 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Uncategorized]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=280</guid>
		<description><![CDATA[A rare perspective from the pages of The New York Times by Ross Douthat who has written eloquently here about the powerful becoming still more powerful as a result of their mistakes.  He&#8217;s avoided the silly and artificial separation that liberals and conservatives play with regarding Big State v. Big Corps.
]]></description>
			<content:encoded><![CDATA[<p>A rare perspective from the pages of The New York Times by <a href="http://www.nytimes.com/2010/05/17/opinion/17douthat.html">Ross Douthat</a> who has written eloquently here about the powerful becoming still more powerful as a result of their mistakes.  He&#8217;s avoided the silly and artificial separation that liberals and conservatives play with regarding Big State v. Big Corps.</p>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=280</wfw:commentRss>
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		<title>Best Cape Wind and Gulf Oil Spill Coverage</title>
		<link>http://www.ournexteconomy.com/?p=278</link>
		<comments>http://www.ournexteconomy.com/?p=278#comments</comments>
		<pubDate>Fri, 30 Apr 2010 13:47:23 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Uncategorized]]></category>

		<category><![CDATA[Cape Wind]]></category>

		<category><![CDATA[Department of the Interior]]></category>

		<category><![CDATA[Greenpeace]]></category>

		<category><![CDATA[Gulf of Mexico]]></category>

		<category><![CDATA[oil spill]]></category>

		<category><![CDATA[wind farm]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=278</guid>
		<description><![CDATA[The Interior Department has just approved the nation&#8217;s first offshore wind farm: Cape Wind.
Meanwhile, BP&#8217;s Gulf of Mexico oil spill continues to grow.  Don&#8217;t miss these new photographs taken by Greenpeace.
And for the best coverage of both stories together, see The Colbert Report below.



The Colbert Report
Mon - Thurs 11:30pm / 10:30c


Wind Farm &#38; Oil Spill


www.colbertnation.com









Colbert [...]]]></description>
			<content:encoded><![CDATA[<p>The Interior Department has just approved the nation&#8217;s first offshore wind farm: <a href="http://www.boston.com/news/local/breaking_news/2010/04/cape_wind_annou.html">Cape Wind</a>.</p>
<p>Meanwhile, BP&#8217;s Gulf of Mexico oil spill continues to grow.  Don&#8217;t miss these new photographs taken by <a href="http://www.huffingtonpost.com/philip-radford/the-cost-of-offshore-dril_b_557555.html">Greenpeace</a>.</p>
<p>And for the best coverage of both stories together, see The Colbert Report below.</p>
<table style="font: normal normal normal 11px/normal arial; color: #333333; background-color: #f5f5f5; height: 353px;" border="0" cellspacing="0" cellpadding="0" width="360">
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<td style="padding:2px 1px 0px 5px;"><a style="color:#333; text-decoration:none; font-weight:bold;" href="http://www.colbertnation.com" target="_blank">The Colbert Report</a></td>
<td style="padding:2px 5px 0px 5px; text-align:right; font-weight:bold;">Mon - Thurs 11:30pm / 10:30c</td>
</tr>
<tr style="height: 14px;" valign="middle">
<td style="padding:2px 1px 0px 5px;" colspan="2"><a style="color:#333; text-decoration:none; font-weight:bold;" href="http://www.colbertnation.com/the-colbert-report-videos/308100/april-29-2010/wind-farm---oil-spill" target="_blank">Wind Farm &amp; Oil Spill</a><a></a></td>
</tr>
<tr style="height: 14px; background-color: #353535;" valign="middle">
<td style="padding: 2px 5px 0px 5px; width: 360px; overflow: hidden; text-align: right;" colspan="2"><a style="color:#96deff; text-decoration:none; font-weight:bold;" href="http://www.colbertnation.com/" target="_blank">www.colbertnation.com</a></td>
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<table style="text-align: center; height: 100%; margin: 0px;" border="0" cellspacing="0" cellpadding="0" width="100%">
<tbody>
<tr valign="middle">
<td style="padding: 3px; width: 33%;"><a style="font:10px arial; color:#333; text-decoration:none;" href="http://www.colbertnation.com/full-episodes/" target="_blank">Colbert Report Full Episodes</a></td>
<td style="padding: 3px; width: 33%;"><a style="font:10px arial; color:#333; text-decoration:none;" href="http://www.indecisionforever.com" target="_blank">Political Humor</a></td>
<td style="padding: 3px; width: 33%;"><a style="font:10px arial; color:#333; text-decoration:none;" href="http://www.colbertnation.com/video/tag/Fox+News" target="_blank">Fox News</a></td>
</tr>
</tbody>
</table>
</td>
</tr>
</tbody>
</table>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=278</wfw:commentRss>
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		<item>
		<title>Climate Bill Dead or Alive?</title>
		<link>http://www.ournexteconomy.com/?p=270</link>
		<comments>http://www.ournexteconomy.com/?p=270#comments</comments>
		<pubDate>Tue, 27 Apr 2010 20:13:34 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Corporate giveaways]]></category>

		<category><![CDATA[Global Warming]]></category>

		<category><![CDATA[cap and dividend]]></category>

		<category><![CDATA[climate change]]></category>

		<category><![CDATA[coal mining]]></category>

		<category><![CDATA[nuclear power]]></category>

		<category><![CDATA[oil companies]]></category>

		<category><![CDATA[Environmental Protection Agency]]></category>

		<category><![CDATA[Glen Bolger]]></category>

		<category><![CDATA[Graham]]></category>

		<category><![CDATA[Kerry]]></category>

		<category><![CDATA[Lieberman]]></category>

		<category><![CDATA[oil]]></category>

		<category><![CDATA[oil and gas industries]]></category>

		<category><![CDATA[Senate]]></category>

		<category><![CDATA[Supreme Court]]></category>

		<category><![CDATA[The Goldman Sachs Group  Inc.]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=270</guid>
		<description><![CDATA[
Woke to the news, three grim faced men, Senators, said they weren&#8217;t going to be able to help on global warming.  The only Republican supporter of the not yet announced but widely described bill, Lindsey Graham, had a new demand.  Not only did he insist that the bill subsidize the building of nuclear power plants [...]]]></description>
			<content:encoded><![CDATA[<p><!--StartFragment--></p>
<p class="MsoNormal">Woke to the news, three grim faced men, Senators, said they weren&#8217;t going to be able to help on global warming.  The only Republican supporter of the not yet announced but widely described bill, Lindsey Graham, had a new demand.  Not only did he insist that the bill subsidize the building of nuclear power plants and open up our coasts to oil drilling – conditions since met by the White House &#8212; he wanted the Democrats to hold off immigration reform so it wouldn’t hurt some Republicans running for Senate.  It&#8217;s rumored that he also wanted Caps tickets for the final game on Wednesday evening and a guarantee from the White House that they would beat the Canadiens.</p>
<p class="MsoNormal">Weird. But I felt happy.  Which is weirder still.<span> </span>I’ve worked for almost 20 years to stop global warming and I feel joy when the Senate global warming bill begins to unravel.  How did we get here?</p>
<p class="MsoNormal">The bill that Senators Kerry, Graham and Lieberman (KGL) keep threatening to introduce is reputed to be more of a polluters’ bill than an environmental bill. Massive new subsidies for the coal, oil and gas industries, a new trading scheme for Wall Street (this time in derivatives of carbon pollution instead of mortgages), promised CO2 emissions reductions primarily from ungovernable &#8220;offsets&#8221; in the developing <span> </span>world, and pre-emption over <span> </span>state effort to stop global warming or even the EPA&#8217;s recently Supreme Court granted right to do the same.</p>
<p class="MsoNormal">There are smart people who say that we need a bill on global warming, any bill, and the rest of the world will start moving too.  But it seems to me that if we pass a fake bill, it won&#8217;t be a little first step but rather the last step.  And the Chinese, Indians, Brazilians are unlikely to be so ignorant as to watch the Senate pass a fake bill and turn around and make real emissions reductions in their own economies.<span> </span></p>
<p class="MsoNormal">But figuring this out isn’t my job.<span> </span>I didn&#8217;t join the environmental movement to try and become a master dealmaker. Let&#8217;s leave that to the politicians and their staff. I’m more interested in the people building a powerful swell of public support that politicians eventually have to follow.  Democracy done right means politicians listen to the people.  Not the coal companies or the oil companies or Goldman Sachs.</p>
<p class="MsoNormal">I come from the American tradition that liberated itself from a corrupt king and which now has to liberate itself from corrupt corporate oligarchs.  To do that we&#8217;ll have to organize in every corner of this fair land and peel the grip of the polluters off the levers of power.  But there is one thing we must do first.  The original role of the environmental community is to tell the truth.  Our role is not to design ever more complex legislative schemes that enrich the oligarchs and confuse the public.  The truth is that global warming is bearing down on us and we are not a step closer to solving it than we were 40 years ago.</p>
<p class="MsoNormal">And yet there is something that I find hopeful, an alternative bill, though the media pretends it isn’t there.</p>
<p class="MsoNormal">The media has been focused on the three men who have been talking about a bill for months while ignoring two women Senators, Democrat Cantwell and Republican Collins, who have actually introduced a bill, <a href="http://cantwell.senate.gov/issues/CLEARAct.cfm">the CLEAR Act (the Carbon Limits and Energy for America&#8217;s Renewal Act)</a>.  Simple, elegant architecture, it auctions the right to pollute to the importers, drillers and miners of carbon-based fuels that come into the economy.  These costs get passed along to you and me so we use less.  It works like a tax, increasing the price so we use less carbon-based fuels.<span> </span>That’s a good thing.<span> </span><span> </span>And then it takes most of that revenue and gives a cash payment, ever year, to everyone with a social security number.</p>
<p class="MsoNormal">Top Republican pollster Glen Bolger from Public Opinion Strategies recently <a href="http://supportclearact.com/sites/default/files/Clean%20Energy%20Refund%20Memo.pdf">polled 1,000 likely voters</a> in five politically moderate to conservative states about their views on climate legislation.<span> </span>According to Bolger: &#8220;The CLEAR Act from Cantwell and Collins has the best chance of getting more votes over party lines because people like the concept of less government involvement [and a] tax-cuts-style refund back to the people.&#8221;<span> </span>Maybe this bill is a better way to get Republican support than to start giving companies the right to drill off our beaches.<span> </span></p>
<p><!--EndFragment--></p>
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			<wfw:commentRss>http://www.ournexteconomy.com/?feed=rss2&amp;p=270</wfw:commentRss>
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		<title>Happy Earth Day: A Way Forward on Climate Change</title>
		<link>http://www.ournexteconomy.com/?p=266</link>
		<comments>http://www.ournexteconomy.com/?p=266#comments</comments>
		<pubDate>Sat, 24 Apr 2010 13:53:47 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[cap and dividend]]></category>

		<category><![CDATA[climate change]]></category>

		<category><![CDATA[CLEAR Act]]></category>

		<category><![CDATA[Earth Day]]></category>

		<category><![CDATA[Senator Cantwell]]></category>

		<category><![CDATA[Senator Collins]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=266</guid>
		<description><![CDATA[Here&#8217;s some good news on a possible way forward on climate change, Cap and Dividend. Senators Cantwell and Collins&#8217; CLEAR Act:









Energy &#38; Environment Daily: GOP Pollster Sees Backing For Cantwell-Collins Bill
Ashlie Rodriguez
Friday, April 23, 2010 1:05 PM

Many moderate and conservative voters say they support reducing carbon emissions and investing in renewable energy sources, according to pollingconducted [...]]]></description>
			<content:encoded><![CDATA[<p>Here&#8217;s some good news on a possible way forward on climate change, Cap and Dividend. Senators Cantwell and Collins&#8217; CLEAR Act:</p>
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<h2><span>Energy &amp; Environment Daily: GOP Pollster Sees Backing For Cantwell-Collins Bill</span></h2>
<div><span>Ashlie Rodriguez<br />
Friday, April 23, 2010 1:05 PM</span></div>
<div id="entrytext">
<div><span>Many moderate and conservative voters say they support reducing carbon emissions and investing in renewable energy sources, according to <a href="http://supportclearact.com/sites/default/files/Clean%20Energy%20Refund%20Memo.pdf"><span>polling</span></a>conducted by Public Opinion Strategies (R).</span></div>
<div><span>Pollsters asked 800 likely voters nationwide and 1,000 likely voters in five politically moderate to conservative states &#8212; Alaska, Florida, Iowa, Idaho and Virginia &#8212; about their views on climate legislation. In particular, they hoped to test the policies laid out in the <a href="http://cantwell.senate.gov/issues/CLEAR%20Act%20-%20Leg%20Text.pdf"><span>Carbon Limits and Energy for American Renewal Act</span></a> put forth by Sens. <strong><span>Maria Cantwell</span></strong>, D- Wash., and <strong><span>Susan Collins</span></strong>, R-Maine.</span></div>
<div><span>&#8220;The CLEAR Act from Cantwell and Collins has the best chance of getting more votes over party lines because people like the concept of less government involvement [and a] tax-cuts-style refund back to the people,&#8221; said <strong><span>Glen Bolger</span></strong>, a co-founder of Public Opinion Strategies.</span></div>
<p><a name="more"></a><span>Fifty-seven percent of Republican respondents in the five states said they think America&#8217;s energy policy needs &#8220;either a complete overhaul or major reform,&#8221; and even bigger majorities of Democrats and independents agreed. And three-quarters of respondents favored policies that reduce emissions and increased the use of renewable energy sources.</span></p>
<p><span>When read a (glowing) description of the clean energy refund, a measure proposed by the CLEAR Act that would charge companies for emissions and then refund most of the money to taxpayers, 74 percent of those in the national survey approved of the idea. Only 11 percent strongly disapproved of the refund as described in the poll. Bolger concluded that people were most receptive to messaging that emphasized the measure&#8217;s fairness and the fact that it would &#8220;reduce our dependence on foreign oil.&#8221;</span></div>
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		<title>US Debt to Lose AAA Status?</title>
		<link>http://www.ournexteconomy.com/?p=259</link>
		<comments>http://www.ournexteconomy.com/?p=259#comments</comments>
		<pubDate>Tue, 16 Mar 2010 19:15:07 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Uncategorized]]></category>

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		<description><![CDATA[This is the most intriguing story of the day, about Moody&#8217;s Investors Service warning that US debt could lose its AAA rating if it doesn&#8217;t keep its spending in check.  Today&#8217;s Times Business. Of course it&#8217;s the same Moody&#8217;s that stamped AAA on all the derivatives from the repacked home mortgages that led to the [...]]]></description>
			<content:encoded><![CDATA[<p>This is the most intriguing story of the day, about Moody&#8217;s Investors Service warning that US debt could lose its AAA rating if it doesn&#8217;t keep its spending in check.  <a href="http://www.nytimes.com/2010/03/16/business/global/16rating.html?scp=2&amp;sq=moodys&amp;st=Search">Today&#8217;s Times Business</a>. Of course it&#8217;s the same Moody&#8217;s that stamped AAA on all the derivatives from the repacked home mortgages that led to the biggest economic collapse since the Great Depression.  Further, the quote is fun to try and parse: &#8220;<a class="meta-org" title="More information about Moody's Corporation" href="http://topics.nytimes.com/top/news/business/companies/moodys_corporation/index.html?inline=nyt-org">Moody’s</a> said the United States and other major Western nations, particularly Britain, have moved &#8217;substantially&#8217; closer to losing their gilt-edged ratings. The ratings are &#8217;stable,&#8217; but “their ‘distance-to-downgrade’ has in all cases substantially diminished.”</p>
<p>Try that at a DWI checkpoint.  &#8221;Officer, I&#8217;m still sober although my distance to downgrade has been substantially diminished.&#8221;</p>
<p>It sounds like the same nonsensical reasoning that led to some of their past ratings.  Maybe it is a threat to keep the Obama Administration from doing meaningful financial reform.  Maybe it&#8217;s someone trying to sound like the Alan Greenspan of old &#8212; remember when he used to utter things that were once deemed as important as the cracks on a turtle shell?  But still, the ironclad guarantee of payback in non inflated currency on a loan to the US does seem somehow like it has changed &#8220;substantially.&#8221;</p>
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		<title>Protection from the Banks and Brokers</title>
		<link>http://www.ournexteconomy.com/?p=256</link>
		<comments>http://www.ournexteconomy.com/?p=256#comments</comments>
		<pubDate>Sat, 06 Mar 2010 15:05:15 +0000</pubDate>
		<dc:creator>John P</dc:creator>
		
		<category><![CDATA[Banks]]></category>

		<category><![CDATA[Elizabeth Warren]]></category>

		<category><![CDATA[Consumer Finance Protection Act]]></category>

		<category><![CDATA[Funny or Die]]></category>

		<guid isPermaLink="false">http://www.ournexteconomy.com/?p=256</guid>
		<description><![CDATA[The need for a stand-alone consumer protection agency is obvious to anyone not running a big bank or credit card company &#8212; unless you are a politician paid by these entities.  I&#8217;ve written about Harvard Law Professor Elizabeth Warren&#8217;s drive to establish this already, but this Funny or Die skit tells it best.

Funny or Die&#8217;s [...]]]></description>
			<content:encoded><![CDATA[<p>The need for a stand-alone consumer protection agency is obvious to anyone not running a big bank or credit card company &#8212; unless you are a politician paid by these entities.  I&#8217;ve written about Harvard Law Professor Elizabeth Warren&#8217;s drive to establish this <a href="http://www.ournexteconomy.com/?p=146">already</a>, but this Funny or Die skit tells it best.</p>
<p><object width="512" height="328" data="http://player.ordienetworks.com/flash/fodplayer.swf" type="application/x-shockwave-flash"><param name="id" value="ordie_player_f5a57185bd" /><param name="flashvars" value="key=f5a57185bd" /><param name="allowfullscreen" value="true" /><param name="allowscriptaccess" value="always" /><param name="src" value="http://player.ordienetworks.com/flash/fodplayer.swf" /><param name="name" value="ordie_player_f5a57185bd" /><param name="quality" value="high" /></object></p>
<div style="text-align: left; font-size: x-small; margin-top: 0; width: 512px;"><a title="from Will Ferrell, Chevy Chase, Ron Howard, Jim Carrey, Fred Armisen, Darrell Hammond, Dan Aykroyd, Maya Rudolph, Dana Carvey, FOD Team, Jake, and Antonio Scarlata" href="http://www.funnyordie.com/videos/f5a57185bd/funny-or-die-s-presidential-reunion">Funny or Die&#8217;s Presidential Reunion</a> from <a href="http://www.funnyordie.com/will_ferrell">Will Ferrell</a></div>
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