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Making a federal case out of it: Protecting the big guy

26 August 2009

The New York Times published yet another interesting article about high-frequency market trading on Sunday. These articles all center around the arrest and prosecution of Sergey Aleynikov, a former Goldman Sachs employee accused of stealing software code. The proprietary code supposedly helps Goldman buy and sell stocks in milliseconds and profit from tiny price discrepancies.

No big deal, right? An eighth or sixteenth of a penny here or there couldn’t add up to much? Just $8 BILLION across the industry, estimates one market research firm. And from whom was the $8 BILLION taken? Average investors like you and me.

Is the criminal arm of justice going after Mr. Aleynikov to protect you and me? No, it’s going after him to protect Goldman Sachs.

Health care reform: Separating sense from nonsense

26 August 2009

For help in separating sense from nonsense in the health care reform debate, check out the second issue of The Health Express, a wonderful resource produced right here in West Virginia.

For additional help in separating truth from falsehood, check out the St. Petersburg Times’ Politifact.com Truth-O-Meter on policymakers’ health care reform claims. If you’ve never checked out Politfact.com before, you must. It won the Pulitzer Prize for National Reporting this year, and you’ll quickly discover why. I especially enjoy the Pants on Fire section reserved for the biggest lies and misstatements.

“How green was my valley?”

25 August 2009

Since the latter part of the 19th century, West Virginia has been at the forefront of American energy production. Will this continue?

The American Recovery and Reinvestment Act (ARRA) contains billions and billions of dollars aimed at bringing about a “green revolution.” If some of these initiatives are successful, they truly could revolutionize American and world energy production and consumption. To help you understand the dramatic scope of the federal green investment, I have provided a partial list of initiatives below:

Department of Energy:

Advanced Research Projects Agency Energy (ARPA-E). To foster research and development of transformational energy-related technologies.
Smart Grid Investments. To improve electricity delivery and energy reliability.
Nuclear Science and Technology. To pursue forefront nuclear science research.
Early Career Research. To support energy researchers who are early in their careers.
Alternative Isotope Production Techniques. To seek breakthroughs that will facilitate an increased supply of isotopes that are in short supply.
Integrated Biorefinery Operations. To create biofuels and bioproducts refineries that can use a variety of feedstocks effectively.
Energy Efficient Information and Communication Technology. To reduce the energy use of technology equipment.
Enhanced Geothermal Systems. To improve energy extraction from geothermal sites and use of ground source heat pumps.
Hydroelectric Facility Modernization. To improve hydroelectric power production.
Wind Turbine Drivetrains. To design and construct a facility to test wind turbine drive trains.
Wind Energy Consortia. To develop consortia between higher education institutions and the wind industry.
Advanced Energy Efficient Building Technology. To support a wide range of research and development concerning energy efficient buildings.
Electric Drive Vehicle Battery and Component Manufacturing. To increase production of batteries and electric drive components.
Truck Engines/Powertrains. To improve truck engine energy efficiency.

Department of Labor:

Energy Training Partnerships. To provide training and placement services in energy efficiency and renewable energy industries.
Green Capacity Building. To build capacity of training programs to meet the needs of expanding green industries.
State Energy Sector Partnerships. To develop and implement a green energy sector workforce plan.
State Labor Market Information Improvement Grants. To improve data collection concerning energy efficiency and renewable energy industries.

Other:

Department of Transportation – TIGGER. To reduce greenhouse gas emissions and energy consumption of public transportation systems.
Environmental Protection Agency. To promote diesel emission reductions.

So where will the green revolution, if there truly is to be one, leave West Virginia? The answer may depend on how quickly we can turn our hills and valleys green. We’ll explore possible answers – and tie them into our Socratic analysis of mountaintop removal coal mining – over the coming weeks and months.

Pious irrelevancies and sanctimonious trivialities?

25 August 2009

In his “Letter from a Birmingham Jail,” Martin Luther King wrote: “In the midst of blatant injustices inflicted upon the Negro, I have watched white churchmen stand on the sideline and merely mouth pious irrelevancies and sanctimonious trivialities.” I wish the tax-exempt status of prosperity ministries were my only concern, but I also am concerned that the social impact of these ministries extends far beyond mouthing pious irrelevancies and sanctimonious trivialities.

Georgetown University professor and ordained minister Michael Eric Dyson recently explained the prosperity message this way: “The civil rights movement said you are responsible for your brother and sister; you ought to bring them along. The prosperity gospel says your brother or sister is responsible for him or herself, and what they should be doing is praying right so God can bless them, too.” In light of what they are taught, I wonder whether prosperity congregants are less likely to perform community service, support charitable causes financially, or support social services than their counterparts in other churches. If so, the impact of their message is far from irrelevant or trivial.

Spiritual pickpockets

24 August 2009

Despite having grown up in a fundamentalist church, I generally am very open to and accepting of others’ religious beliefs. But there is one set of religious leaders for whom I have no tolerance whatsoever: prosperity ministers.

Exemplified by Kenneth and Gloria Copeland, Joel Osteen, Benny Hinn, Joyce Meyer, Paula White and T. D. Jakes, these ministries teach that there’s no reason to await your heavenly reward; you can have it right here and now. And have it right here and now they do. ”Private airplanes and boats. A motorcycle sent by an anonymous supporter. Vacations in Hawaii and cruises in Alaska. Designer handbags. A ring of emeralds and diamonds,” said the New York Times in a recent article on some of these prosperity ministers.

What do you have to do to earn these earthly rewards, according to the prosperity ministers? ”Their message,” says the New York Times: “[I]f you have sufficient faith in God and the Bible AND DONATE GENEROUSLY, God will multiply your offerings a hundredfold.” (Emphasis mine.) And lest you forget, those donations are tax-free.

Fortunately, my favorite curmudgeon Senator Charles Grassley has started a little crusade of his own, questioning the tax-exempt status of several of these ministries. Despite being a firm believer in freedom of religion, I hope he and others continue their efforts to expose these ministers for what they are: spiritual pickpockets.

Making a federal case out of it: Protecting the big guy

Health care reform: Separating sense from nonsense

“How green was my valley?”

Pious irrelevancies and sanctimonious trivialities?

Spiritual pickpockets

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