Open Thread March 14, 2023

A few days ago, the newsletter I get every week from the Project on Government Oversight included a request for me to edit, sign, and send a letter to President Joe asking him to fire the IG of DHS. Most of the time I am not able to add much of anything to the letters that groups draft asking for change. This one was different. I never liked even the idea of a Department of Homeland Security – it seemed too nationalistic to me from the get-go. And the longer it exists, the less I like it. If we must have an agency that combines the functions which come under DHS (as opposed to having those functions split up, as we did before it was formed), then it absolutely needs to be subject to the State Department. Our national security is totally contingent upon our foreign relations, and those are not helped by DHS continually and blatantly breaking international law. I do get it that with the nation so ridiculously divided now may not be the best time to absorb DHS into State. But at the very least, it needs a tough IG of unimpeachable integrity, and Cuffari, the current holder of that post, is exactly the opposite. And I put most of that into the letter before sending it. Here’s the link, and besides the letter, there is some background on Cuffari and his – I’ll be overly generous and call it incompetence (but I absolutely believe there’s also malice there.)

Cartoon –

Short Takes –

Crooks and Liars – Epstein’s Brother: Jeffrey Ran From 45 Because Trump Was A Crook
Quote – According to what Jeffrey’s brother, Mark, told Business Insider, his now-deceased brother distanced himself from Trump because the former President was “a crook.” Imagine being too slimy for a pedophile. And there is unaired footage of an interview by Jeffrey Epstein conducted by Steve Bannon after his brother forwarded it to him in the spring of 2019.
Click through for story – it’s short. Just for the benefit of anyone whose first reaction is, “Mark is his brother. Of course he would try to put Jeffrey in the best light [or in this case the least awful light],” some people’s families do tell the unvarnished truth about them. Stephen Miller. Paul Gosar. That does not necessrily mean I believe Mark, but I won’t just dismiss what he says either.

Robert Reich – The real story behind the Silicon Valley Bank debacle
Quote – The surface story of the Silicon Valley Bank debacle is straightforward. During the pandemic, startups and technology companies enjoyed heady profits, some of which they deposited in the Silicon Valley Bank. Flush with their cash, the bank did what banks do: It kept a fraction on hand and invested the rest — putting a large share into long-dated Treasury bonds that promised good returns when interest rates were low. But then, starting a little more than a year ago, the Fed raised interest rates from near zero to over 4.5 percent. As a result, two things happened. The value of the Silicon Valley Bank’s holdings of Treasury bonds plummeted because newer bonds paid more interest. And, as interest rates rose, the gusher of venture capital funding to startup and tech companies slowed, because venture funds had to pay more to borrow money. As a result, these startup and tech companies had to withdraw more of their money from the bank to meet their payrolls and other expenses.
Click through for details. Responsible parents teach children self – discipline, not only for the sake of society, but to help their children to succeed, because, without self-control, you won’t. Responsible governments regulate – and that’s really for the same reasons. This case may be less egregious than some others we have seen. What will it take to convince people that regulation is NOT a bad thing?

Iterestingly, HEather Cox Richardson also concentrated on the bank failur in he Letter from an American.

Food For Thought

Let’s see them do this with those other constants.