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FOCUS: The Naked Corruption of Kelly Loeffler and David Perdue
Ryan Cooper, The Week
Cooper writes: "Control of the United States Senate hinges on two January 5 runoff elections in Georgia, where incumbent Republicans David Perdue and Kelly Loeffler are facing Democrats Jon Ossoff and Raphael Warnock respectively."
Most immediately, the race is a contest over whether President-elect Joe Biden and the Democratic Party will be able to govern — especially by passing another big coronavirus rescue package.
However, Loeffler and Perdue are also excellent examples of what interests the Republican Party serves — namely, the ultra-rich, which includes both Loeffler and Perdue personally. These are two people who were rich before they got into politics, and leveraged their power as senators to make themselves even more rich — by profiteering off the pandemic. It is government of, by, and for the top 0.1 percent.
Let me consider their cases in turn. David Perdue is a longtime businessman who served as CEO of Dollar General in the mid-2000s, where he worked diligently to source more products from China. According to his financial disclosures, he is worth between $15 million and $43 million.
As Michela Tindera writes at Forbes, Kelly Loeffler and her husband Jeffrey Sprecher own a big stake in International Exchange, a financial clearinghouse company that Sprecher founded and where he remains CEO and chairman. (That company also owns the New York Stock Exchange, where Sprecher is again chairman.) After closely examining Loeffler's financial disclosure forms and other information, Tindera estimates that the couple is worth at least $800 million, and likely over $1 billion — or roughly quadruple the wealth of the second-richest member of Congress, Senator Mitt Romney (R-Utah).
Here's how the pandemic profiteering worked. On January 24, there was a private all-Senate briefing about the looming disaster — long before there was a broad public understanding that the U.S. was going to get slammed by COVID-19. Immediately afterward, both Loeffler and Perdue started trading strategic stocks. As The Daily Beast reported at the time, Loeffler executed 29 transactions valued between $1.275 and $3.1 million in the following days before the market crashed, almost all of them sales — one exception was a purchase of Citrix, which sells teleworking software. (Also, Loeffler recently violated the legal prohibition on soliciting campaign funds in a Senate office building.)
Perdue made a similar number of trades, but bought more than Loeffler — in particular, an investment of up to $850,000 in DuPont, which manufactures personal protective equipment. And as The Associated Press reports, in late January he sold between $1 million and $5 million in shares of Cardlytics, a financial technology firm, at $86 per share. Then, when the market had bottomed out in March, he snapped up between $200,000 and $500,000 of Cardlytics shares at $30 apiece; since then the share price has shot back up to $121. Nice tidy little profit to counterbalance the 270,000 dead Americans. (The Daily Beast also reports that in 2019, Perdue bought up shares of a submarine parts manufacturer before voting to give the company a lucrative contract, then sold it for another handsome profit.)
When reports of these trades first came out, both Loeffler and Perdue insisted they had nothing to do personally with the moves. "I have never used any confidential information I received while performing my Senate duties as a means of making a private profit ... professionals buy and sell stocks on our behalf," wrote Loeffler in an April 8 Wall Street Journal op-ed. Perdue told the Atlanta Journal-Constitution that advisers made his investment decisions on their own.
In the first place, candidates not taking direct control of their stock trades does not actually remove the conflict of interest. If you are a senator, and you hire a bunch of asset managers to look after your investments without any kind of blind trust, you still know what those investments are. You can make decisions knowing that your Goldman Sachs lackeys will make the profit-maximizing move in response — which is the best-case scenario of what happened here.
But realistically speaking, it is virtually impossible to believe that all these trades had nothing to do with the two senators. Are we really to believe it was a coincidence that these asset managers started making "there is a pandemic coming" trades the very same day the two were receiving classified briefings on the disaster? Come on. Indeed, The New York Times recently reported that Perdue was lying with his blanket denial — he did directly instruct his manager to sell the Cardlytics shares after receiving a cryptic email mentioning "upcoming changes" from the company's then-CEO. (Perdue and Loeffler have been cleared of legal wrongdoing by the Department of Justice, but given that Attorney General Barr is a shameless Trump stooge, that is hardly reassuring.)
Since then, both Perdue and Loeffler have largely downplayed the pandemic. Unlike Ossoff and Warnock, both have been holding large, in-person rallies. In July, both Loeffler and Perdue came out against extending the boost to unemployment insurance in the CARES Act, and since then neither have answered questions about further economic rescue measures from Atlanta Magazine. Instead, since the election they have amplified Trump's flagrant lies that Georgia's Republican governor and secretary of state somehow helped Joe Biden steal the election there.
Over the last decade or so, there has been a long discussion of why Democrats are bleeding votes in rural areas (precisely where Republicans run up huge margins in Georgia). And on one level it's an important debate — there is good evidence that as Democrats embraced austerity, deregulation, and free trade that harmed such places, it hurt their vote share.
But on another level, it is frankly staggering that the Republican Party has swooped in to replace them. The Democrats may not be much of a friend to the working class or rural farmers, but Republicans are straight-up picking their pockets. If you want a couple senators to govern solely on behalf of their massive asset portfolio while leaving everyone else twisting in the wind, vote Perdue and Loeffler.
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Supporters of President Donald Trump hold 'Stop the Steal' signs as they stand outside of the Clark County Elections Department in Nevada on November 7. (photo: Wong Maye/AP)
Paul Krugman | How Will Biden Deal With Republican Sabotage?
Paul Krugman, The New York Times
Krugman writes: "When Joe Biden is inaugurated, he will immediately be confronted with an unprecedented challenge - and I don't mean the pandemic, although Covid-19 will almost surely be killing thousands of Americans every day. I mean, instead, that he'll be the first modern U.S. president trying to govern in the face of an opposition that refuses to accept his legitimacy."
And no, Democrats by and large were not claiming Donald Trump was illegitimate, just that he was incompetent and dangerous.
It goes without saying that Donald Trump, whose conspiracy theories are getting wilder and wilder, will never concede, and that millions of his followers will always believe — or at least say they believe — that the election was stolen.
Most Republicans in Congress certainly know this is a lie, although even on Capitol Hill there are a lot more crazy than we’d like to imagine. But it doesn’t matter; they still won’t accept that Biden has any legitimacy, even though he won the popular vote by a large margin.
Community leaders organized a vigil at the Jackson County Courthouse in Medford on Wednesday, Dec. 2, for Aidan Ellison. (photo: Erik Neumann)
Black Teen Shot, Killed in Oregon Over Music
David K. Li and Matteo Moschella, NBC News
Excerpt: "A dispute over loud music ended with a 47-year-old Oregon man fatally shooting a Black teenager in a hotel parking lot just days before Thanksgiving, police said."
"The only thing that caused this murder was suspect's actions," said Ashland Police Chief Tighe O'Meara.
dispute over loud music ended with a 47-year-old Oregon man fatally shooting a Black teenager in a hotel parking lot just days before Thanksgiving, police said.
The shooting happened in front of the Stratford Inn in Ashland, about 16 miles north of the California-Oregon border, in the early morning hours of Nov. 23, authorities said.
Aidan Ellison, 19, was staying at the hotel with his friend Sara Jones and her cousin when the young man couldn't sleep that night.
"I gave Aidan my car keys to listen to music," Jones, 35, told NBC News on Monday.
"I had fallen back asleep because I had to work in a few hours. Around 4:50 a.m. I get a knock at the door from police asking, 'Is there a young black male that stayed with me?' I said, 'Yes, that would be Aidan.' They asked me if I knew where he was. I said, 'Yes, I'll take you to him, he's in my car.' They said he wasn't in trouble. He was possibly shot and it was a matter of life or death and they needed to find him."
When she and the police got downstairs, Jones said she saw Ellison's body near a tree and some shrubs as paramedics attended to him. Police said in a statement that though paramedics attempted to render aid on the scene, Ellison was "beyond help" and died on scene.
"From what I was told was there was an argument over loud music, the front desk clerk tried to break up the argument but when he went back inside is when Aidan was shot," said Jones, who lives at the hotel and knew Ellison from their work at a local fast food restaurant.
While the deadly dispute may have started over loud music, Ashland Police Chief Tighe O'Meara said in a statement that this tragedy is "100%" the fault of suspect Robert Paul Keegan.
"The only thing that caused this murder was suspect's actions," O'Meara said. "It is completely immaterial what led up to it."
The chief added: "Yes, there was an argument over music, no, this did not happen because of loud music, it happened because the suspect chose to bring a gun with him and chose to use it."
Keegan allegedly pulled a gun from inside his coat "and fired a single shot, striking the victim in the chest," according to a police statement.
Police were investigating whether race could have played a role in the deadly encounter.
"That's a very legitimate and important thing for us to look at," O'Meara said.
"Right now we can't substantiate that race was a factor. If that changes at some point, then some different charges will be considered. So yes, could it have ben a factor? Or course. But without having the benefit knowing what Keegan is thinking, we can't substantiate it."
Jim Tumpane, owner of the Stratford Inn, said he and his staff are "heartbroken, shocked, and angered by the senseless murder" Ellison.
"Our hearts grieve for his family and friends. We appreciate the vigils that have been coordinated," Tumpane said in a statement. "We also welcome and greatly encourage the posting of 'Black Lives Matter' signs on our property. We are thankful for the community's support towards all of those affected, including Aidan's loved ones, our staff, and our residents here at the Stratford Inn."
Keegan, who lives in nearby Talent, was arrested at the scene and was still in Jackson County Jail on Monday, booked on suspicion of second-degree murder, first-degree manslaughter, reckless endangering and unlawful possession of a firearm.
Keegan had not hired an attorney by Monday, according to the Jackson County Public Defender's office.
Ellison's friend Sunmoon Oh said the victim battled homelessness but was always generous with what little he had.
“I could tell you all the stereotypical stuff. He was special, he was kind, he was a great guy, but he was so much more than that,” Oh told NBC affiliate KOBI. “He had nothing, but yet even if he had something he would give it to you no questions asked."
President Trump speaks in front of U.S. troops. (photo: Yasin Ozturk/Getty)
Trump Vows to Veto Defense Bill Unless Shield for Big Tech Is Scrapped
Jaclyn Diaz, NPR
Diaz writes: "President Trump is threatening to veto a critical defense spending bill unless Congress agrees to repeal a liability shield for social media companies."
The president tweeted late Tuesday that Section 230 of the 1996 Communications Decency Act is "a serious threat to our National Security & Election Integrity."
Section 230 provides legal protection for technology companies over content from third parties and users. Trump referred to the provision as a "liability shielding gift" to "Big Tech."
If he doesn't get his way, Trump is threatening to nix this year's National Defense Authorization Act — a crucial piece of annual legislation that covers authorization for pay raises and other spending needs for the nation's military.
The veto threat is the latest move by the president in his war against social media giants such as Facebook and Twitter. He and other conservatives believe tech companies are biased against conservative political views — censoring posts they don't like. However, the social media platforms say they are only trying to stop the spread of false claims and disinformation.
Trump previously threatened a veto of the NDAA in July because it included language renaming U.S. military installations honoring Confederate generals.
Lawmakers from both sides of the aisle, who have largely rejected a wholesale repeal of Section 230, have nonetheless proposed revisions, in part to modernize the policy, but no concrete legislative steps have been taken.
Lawmakers on the NDAA conference committee are set to meet Wednesday over the legislation.
This is the 60th year Congress has crafted an annual defense policy bill and it usually passes with overwhelming bipartisan, veto-proof majorities.
U.S. soldier. (photo: Getty)
Andrea Mazzarino | Ready or Not, Here They Come: A Military Spouse's Perspective on Bringing the Troops Home From Afghanistan and Iraq
Andrea Mazzarino, TomDispatch
Mazzarino writes: "When it comes to honoring active-duty troops and veterans of this country's forever wars, we Americans have proven big on symbolic gestures, but small on action."
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Children from Burkina Faso take a break last year on a cocoa farm near the village of Niambly, Ivory Coast. (photo: Salwan Georges/The Washington Post)
Supreme Court Weighs Child-Slavery Case Against Nestlé USA, Cargill
Peter Whoriskey, The Washington Post
Whoriskey writes: "The Supreme Court heard arguments Tuesday about whether U.S. chocolate companies should be held responsible for child slavery on the African farms from which they buy most of their cocoa."
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A farmer cleans a coca crop in Cauca, Colombia, on Jan. 27, 2017. (photo: Jaime Saldarriaga/Reuters)
Colombia Is Considering Legalizing Its Massive Cocaine Industry
Wes Michael Tomaselli, VICE
Excerpt: "A senator is trying to get a bill through congress that makes the government buy up and sell the country's cocaine production."
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Hospital workers evacuate patients from the Feather River Hospital during the Camp Fire on Nov. 8, 2018 in Paradise, California. People in 128 countries have experienced an increased exposure to wildfires, a new Lancet report finds. (photo: Justin Sullivan/Getty)
The Climate Crisis Is Already Killing People, New Lancet Report Warns
Olivia Rosane, EcoWatch
Rosane writes: "The climate crisis already has a death toll, and it will get worse if we don't act to reduce emissions."
That's the warning from the latest Lancet Countdown on Health and Climate Change, an annual public health report released Wednesday.
"This past year, we have seen the harms of our converging crises — COVID-19, climate disasters, and systemic racism; it's been a preview of what lies ahead if we fail to urgently make the necessary investments to protect health," Renee Salas, lead author of the U.S. Lancet Countdown Policy Brief, said in a statement reported by CNBC.
Wednesday's report was the work of more than 100 experts from 35 institutions or universities including the World Health Organization and University College London (UCL). The Lancet Countdown on Health and Climate Change has been running since 2015, when the Paris agreement was negotiated, The Guardian pointed out. However, this year, the health impacts of climate change were their "most worrying" since the report began. All 16 health indicators monitored in the report are worsening, according to New Scientist.
"Climate change-induced shocks are claiming lives, damaging health and disrupting livelihoods in all parts of the world right now. That means no continent or community remains untouched," Ian Hamilton of UCL told New Scientist.
For example, the number of people over 65 who died prematurely because of heat waves increased by almost 54 percent between 2000 and 2018 to reach 296,000, mostly in Japan, China, India and Europe.
The number of people exposed to wildfire risk also increased in 128 countries when 2016 to 2019 were compared with 2001 to 2004.
The report found that the health impacts of the climate crisis were unevenly distributed and disproportionately impacted the people who had done the least to contribute to the crisis. However, this does not mean that wealthier countries are immune.
"A nation's wealth offers no protection against the health impacts of even a 1.2C global average temperature rise," Hugh Montgomery, Lancet Countdown co-chairman and a UCL intensive care medicine professor, said in a statement reported by the Thomson Reuters Foundation. "Flames, floods and famine do not respect national borders or bank accounts."
In the U.S., for example, heat waves killed 19,000 people over 65 and pollution claimed more than 68,000 lives, according to CNBC.
However, these effects were also distributed unequally within the U.S. itself.
"In the U.S., we see clear evidence of how certain communities are more burdened by pre-existing inequities," Dr. Jeremy Hess, author on both the global report and the U.S. breakout, told CNBC.
The report authors put forward specific policy recommendations for the incoming Biden administration, including an end to subsidies for fossil fuels, supporting public transportation and reducing the use of nitrogen fertilizers, The New York Times reported.
"The overarching theme I stress to the incoming administration is making health central," Salas told reporters. "Climate action is a prescription for health."
Globally, the report authors recommended that governments use the recovery from the coronavirus pandemic as an opportunity to also fight climate change and meet the goals of the Paris agreement.
"The only way you can meet the Paris agreement is by taking advantage of this moment … by combining the recovery from COVID-19 with the response to climate change," report coauthor and chief sustainability officer for the UK's National Health Service Dr. Nick Watts told The Guardian.
ELON MUSK TOLD MAGA DIM WITS TO CUT CHILD CANCER REEARCH FUNDING! WHAT HAS ELON MUSK EVER DONE FOR ANYONE? THIS IS ABOUT CUTTING SOCIAL S...