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NEWS FLASH

Trader Claims Rate Rigging Scandal Dates Back To 1991 | In the Financial Times today, a former trader for Morgan Stanley claims that rigging of the LIBOR rate has been going on since at least 1991. Revelations that LIBOR — a key benchmark for interest rates — was being rigged has caused a wide-reaching scandal in both European and American financial circles, and could lead to criminal charges. Based on conversations he had with other traders, Douglas Keenan wrote, “it seems the misreporting of Libor rates may have been common practice since at least 1991. Although the difference between the reported rate and the actual rate might seem small, the total amount of money involved is material, given that Libor rates affect contracts worth hundreds of trillions.”

Justice

House Republicans Perpetuate Voter Fraud Myth, Fine With Disenfranchising Voters

On Thursday, House Republicans criticized the Justice Department for challenging voter ID laws. The critical lawmakers believe that DOJ is acting in a partisan manner and that DOJ’s actions show that the Obama Administration is more concerned with winning in November than protecting against election fraud.

DOJ denies that they are motivated by any partisan concerns. Under the Voting Rights Act, DOJ has challenged voter ID laws in Texas and South Carolina.

In both states, Republican-controlled legislatures passed laws requiring voters to show government-issued photo identification in order to vote. The Justice Department indicated this week it also is looking at whether Pennsylvania’s new voter ID law violates the Voting Rights Act, a 1965 law for ensuring minorities’ right to vote.

“Our philosophy has been very straight forward,” Perez told a House Judiciary subcommittee that Franks chairs. “We want to enforce laws. There’s a robust debate in this country, and we think we need to continue to have that debate and we do our level best to ensure that every eligible voter casts their vote and has access to the ballot.”

The criticism by Republican lawmakers is misplaced and misguided. Republican Reps. Steve King (IA) and Trent Franks (AZ) both claimed to be worried about voter fraud. King went so far as to say that “[w]e’re seeing voter fraud that’s pretty prevalent out there.” But there is no evidence that voter fraud is a problem. In fact there were only nine instances of possible in-person voter fraud between 2000 and 2007, and it is more likely that an individual will get struck by lightning than they will commit voter fraud. In the lawsuit brought by the ACLU against Pennsylvania’s voter ID law, the state formally acknowledged that no in-person voter fraud has occurred in Pennsylvania and they don’t expect any to occur in November. While voter fraud is a myth, voter ID laws do disenfranchise voters. In Pennsylvania alone, more than 750,000 eligible voters may be disenfranchised by the state’s new law.

While voter fraud is incredibly rare and therefore unlikely to swing the election in the Democrats’ favor, voter ID laws benefit Republicans because they disproportionately affect voters who are more likely to vote democratic. Poor, minority, and elderly voters are especially likely to fall into the 11 percent of eligible American voters who lack sufficient ID. Wisconsin State Senator Glenn Grothman (R) and Pennsylvania House Majority Leader Mike Turzai (R) both have said that voter ID laws will help Mitt Romney win in November. The ten states that have put voter ID requirements in place represent 127 electoral votes and are led by Republicans in both the legislature and the governorship.

Alex Brown

NEWS FLASH

Maryland Police Discover 25 Firearms In House Of Possible Aurora Copycat | Just one week after the massacre in an Aurora, Colorado theater, Maryland police discovered 25 firearms and 40 boxes of ammunition in the apartment of a man who made threats against his coworkers. The man, Pitney Bowes employee Neil E. Trescott, was arrested wearing a shirt that read “Guns don’t kill people. I do.” He allegedly made the threat Wednesday after he was told he was being fired, saying “I am a joker. I’m going to load my guns and blow everybody up,” but later called back later to acknowledge the seriousness of his claim. He is currently undergoing medical evaluation.

NEWS FLASH

PennDOT Refuses To Change Two Legally Married Couples Last Names On Drivers’ Licenses | Pennsylvania’s refusal to recognize the marriages of gay and lesbian couples has resulted in the Pennsylvania Department of Transportation (PennDOT) denying at least two legally married couples name changes on their drivers’ licenses. Jeannie Nally had already successfully changed her last name on her bank and Social Security card but was turned away by PennDOT when she presented her New York marriage license in an attempt to change her last name on her drivers licence. Jeannie wasn’t asking Pennsylvania to recognize her marriage, only for a state ID that would match both her federal documents and her bank card. PennDOT offered a completely unworkable solution: Jeannie could present a voter ID or passport in order to change her name, two documents that she cannot update without first changing her state ID. The Defense of Marriage Act allows states to not recognize same-sex marriage licenses issued by other states, but not only does a name change not amount to recognition, it is in the government’s clear interest to have citizens’ names be consistently recognized.

Alex Brown

Climate Progress

Drought Tightens Its Grip on High Plains, Central States

Estimated rainfall totals for July 25, showing the dry weather in areas under the influence of the large "heat dome" over the Central States. Click on the image for a larger version. Credit: NOAA/Climate Central.

by Andrew Freedman, via Climate Central

The massive U.S. drought, which is already driving food prices skyrocketing and prompting federal disaster declarations, has only grown worse during the past week. According to the latest edition of the U.S. Drought Monitor, released Thursday morning, between July 17 and July 24, the portion of the country affected by “extreme” to “exceptional” drought jumped from 14 percent to about 21 percent. The portion of the country affected by exceptional drought, which is the most significant drought category, rose from 1 percent last week to 2.4 percent this week.

In all, 33 of the lower 48 states were experiencing moderate drought or worse, with every state in the lower 48 experiencing at least “abnormally dry” conditions. For the fourth straight week, the U.S. set a record for the largest area of moderate drought conditions or worse since the U.S. Drought Monitor began in 2000. And climate outlooks for the next few months don’t offer much hope for sustained rainfall in the most severely affected drought regions, with above-average temperatures and below-average precipitation likely during the rest of the summer.

As it has for most of the summer so far, the weather pattern across the U.S. was dominated by a huge dome of High Pressure, more popularly referred to as a “heat dome,” that brought stifling air to the Central states. High temperatures were in the 100s Fahrenheit from the Great Plains to the Midwest. St. Louis, Mo., for example, set a record for the most days with a high temperature of 105°F or greater in a single calendar year with 11. That beat the record of 10 such days, set during the Dust Bowl year of 1934, and included a high temperature of 108°F on July 25.

While the drought is likely related to natural climate variability, including a long-lasting La Niña event that is still winding down, manmade climate change has likely made the drought worse by making the drought hotter than it otherwise would be. Extreme heat can help perpetuate drought conditions, since soils dry faster during periods of higher temperatures. This dynamic occurred during the 2011 Texas drought and heat wave, which cost farmers and ranchers in that state billions in losses.

“This drought is two-pronged,” said Brian Fuchs, a climatologist at the National Drought Minitgation Center in Lincoln, Neb., said in a press release. “Not only the dryness but the heat is playing a big and important role. Even areas that have picked up rain are still suffering because of the heat.”

Read more

Alyssa

Why The Kardashians Are Better At Reality TV Than The Palins

“You guys are going to be talking about us either way,” Bristol Palin said at a panel for Dancing With the Stars: All Stars at the Television Critics Association press tour on Friday, explaining why she and her family have embraced reality television even though it brings additional scrutiny to her family. It was the second Palin-studded panel of the tour. Bristol’s father Todd is a participant in NBC’s military-themed reality show Stars Earn Stripes, and while he barely uttered a word during the panel introducing the show on Tuesday, his wife, gone strikingly Hollywood, was the most sought-after star at NBC’s poolside party. But it was Bristol’s appearance that illustrated the contradictions of the Palin’s hunger for the spotlight and their disinterest in dealing with, or embracing with relish, the consequences of continuing to put themselves in the public eye.

“Our family’s mantra is to live life vibrantly,” Sarah Palin told Vulture’s Joe Adalian in a brief interview he was able to snag before hotel security started blocking reporters from approaching the family. “And participating in a show like this, especially for Todd, is exactly that. It is living life vibrantly.” Her daughter was less able to put a politician’s gloss on an essentially mindless pursuit. “I just think that God provides opportunities like this and you can go out and do ‘em,” she said, suggesting that if she was going to be the subject of media reports, she might as well embrace the opportunities that come with living in the public eye.

But Bristol got less and less comfortable as she was asked whether her family, which has frequently been vocally upset about their press coverage, has contributed to its own problems by embracing a profession that often puts its subjects in revealing and embarrassing situations. Recently, Bristol’s Lifetime Show, Life’s a Tripp, featured a sequence in which many viewers believed Bristol’s young son Tripp used the epithet “faggot” to deride his aunt—Palin has said that he used profanity, but not an anti-gay slur. When she and fellow contestant Pamela Anderson were asked about their attitudes towards gay people, Palin got visibly upset. “I like gays. I’m not homphobic and I’m so sick of people saying that just becuase I’m for traditional marriage,” she said. That stand “doesn’t mean I’m afraid of anyone else…whatever. I’m going to dance, I’m going to go have fun.”
Read more

Justice

Texas State Rep: Avoid School Prayer Ban By Reading Christian Proverbs To Students

Texas State Rep. Debbie Riddle (R-Tomball)

On her Facebook page last week, Texas State Rep. Debbie Riddle (R-Tomball) explained her view that schools would be acting wisely and constitutionally if they start forcing students to read Christian Proverbs:

Formal prayer has been taken out of our schools. How about this idea? Read from the book of Proverbs from the Bible. Proverbs is a book of wisdom. Proverbs is in the Holy Scriptures for Christians and Jews. As for other religions – the wisdom won’t do them any harm…I say have a reading out of Proverbs each day in our classrooms.

Riddle’s suggestion that forcing students to listen to Christian proverbs is constitutional is wrong. The Supreme Court held that both school-led prayer and scripture readings are unconstitutional over forty years ago because the First Amendment prohibits public schools from promoting one religion over another or over no religion at all. Though Riddle claims the Book of Proverbs is a neutral “book of Wisdom,” she later admits that the reading of the proverbs is a Christian text which “won’t harm” people of “other religions.”

This is not the first time that Riddle’s ideas have been riddled with flaws. In 2010, Riddle claimed that pregnant women were coming to the United States to have babies “with the nefarious purpose of turning them into little terrorists, who will then come back to the U.S. and do us harm.” With no facts to back her up “terrorist babies” claim, Riddle became a symbol of completely unfounded right-wing conspiracy theories.

Ben Sherman

Security

OOPS: Anti-Obama PAC Features Commander Who Thinks Obama Is ‘Fantastic’

U.S. Special Operations commander Adm. William McRaven

Three retired special operations officers have started a new political action committee aimed at, as a recent fundraising email states, “remov[ing] Barack Obama from office.” The swift-boat style group, Special Operations Speaks, will try to achieve this goal by highlighting “what they see as unforgivably security leaks by President Obama and his team.” The email, signed by retired SEAL captain Larry Bailey, continues:

Let me lay it on the line: Barack Obama’s loose lips are doing worse than sinking ships – they’re putting our entire nation at risk.

And if you and I don’t get this man out of office, he’s going to destroy our military, undermine every ally we have, and arm our enemies to the teeth.

It’s interesting then, that the group’s website promoted a Fox News article yesterday reporting that current U.S. Special Operations commander Adm. William McRaven, while warning about national security leaks, praised Obama as a “fantastic” commander-in-chief:

Indeed, talking with CNN’s Wolf Blizter at the Aspen Security Forum this week, McRaven said, “we’re never happy when leaks occur obviously,” but the Special Operations commander never pinned any blame on the president. In fact, as the article SOS promoted notes, McRaven praised Obama:

BLITZER: What kind of commander in chief is he?

MCRAVEN: The president of the United States is fantastic. And, again, I am not a political guy. I have worked in both administrations. I very, very much enjoyed working for President Bush, and I very much enjoy working for President Obama. … This is about a commander in chief who I have the opportunity to engage with on a routine basis, and watching him and the decisions he makes, along with his national security team. They’re a very impressive group of guys and gals.

Watch the clip:

If you’re a group of former special ops officers and your goal is to kick President Obama from office on national security grounds, it’s probably not the best idea to promote stories reporting the top American special operations officer calling President Obama a “fantastic” commander-in-chief.

Update

SOS has updated its post promoting the article with McRaven’s comments about Obama:

*NOTE: While we respect Admiral McRaven’s service to his country, we do not share his view that President Obama is a fantastic Commander-in-Chief. Rather, we believe that President Obama will make a much better former Commander-in-Chief.

Economy

Bank Of America Cancels Foreclosure Auction On Minnesota Home After Occupiers Take Action

Photo by flickr user gilsonrome

Bank of America has decided to renegotiate the terms of a Minnesota homeowner’s mortgage just days before it was scheduled to be auctioned off following a week of action by activists with Occupy Our Homes MN and other groups. Ruby Brown began fighting the foreclosure more than five years ago. She found out last week that the bank had canceled a scheduled sheriff’s auction, according to OccupyOurHomes.org:

After a five-year battle over now-illegal lending practices, a bank error that dropped her from a loan modification program, and a campaign with Occupy Homes MN, north Minneapolis homeowner Ruby Brown has received a mortgage renegotiation from Bank of America, just days before her home was to be auctioned off.

“This is an incredible victory for Ruby, who has been in the struggle for so long. It’s also something that can and should happen for everyone facing the loss of a home right now,” said Susan Kikuchi, an organizer with Occupy Homes MN.

Brown isn’t the only homeowner to face foreclosure over banking errors. Wall Street banks have used fraudulent documents to process foreclosures, illegally foreclosed on members of the military, and foreclosed on homes over small clerical errors. The biggest lenders were subject to a $25 billion mortgage fraud settlement with the federal government and state attorneys general earlier this year.

The victory is the latest in a string of successes for the Occupy Our Homes movement and Occupy Our Homes MN in particular, which has targeted Minneapolis’ hardest-hit neighborhoods and helped numerous homeowners — including the mother of one of its own organizersstave off foreclosure.

Health

American Olympians Face Difficulty Obtaining Comprehensive Health Insurance

Olympic athletes are among the millions of Americans who have trouble finding affordable and comprehensive health care. In fact, the Elite Athletes Health Insurance Plan, administered by Blue Cross Blue Shield, covers only basic preventative care and charges higher premiums for out-of-network care.

But even though Olympians are some of the healthiest people on earth, their specific health needs are not covered by EAHI’s health insurance. The plan does not cover the expensive sports injuries top athletes incur regularly. The plan also does not cover the frequent check-ins athletes require to stay healthy, nor the early and meticulous treating of illnesses and injuries, which can keep athletes on the sidelines.

The insufficient USOC health insurance also isn’t guaranteed to all Olympic-level athletes, who must navigate a byzantine system to determine whether they are eligible for insurance. The Kaiser Health Foundation explains:

The 1,000 or so policies offered by the USOC are divided among the national groups that govern individual sports – for summer, winter and Paralympic Games – and each group sets its own requirements for eligibility. USA Swimming, for example, is allocated 56 policies. Olympic team members are given the first crack at the coverage, followed by the top-ranked swimmers in each event who did not make the team.

Even athletes who qualify for insurance often have to seek additional insurance coverage. Almost all top athletes purchase back-up health insurance to cover the catastrophic injuries they are particularly prone to, or they use insurance through a spouse or parent’s plan. Gymnasts in particular, who are usually the youngest Olympians, are likely to be included under a parent’s health coverage, and thanks to Obamacare, more Olympians who are under 26 could stay under their parents’ insurance to supplement coverage.

Ben Sherman

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