Music That Makes You Smart

Duke Coach to Obama: Worry About the Economy, Not NCAA Picks

Barack Obama picked North Carolina to defeat Louisville for the NCAA championship, a relatively safe selection for a trailblazing president.

Obama spent part of Tuesday making his tournament picks for ESPN, which posted his completed bracket online Wednesday and showed the First Fan filling it out with Andy Katz on the noon edition of "Sportscenter."

Of course, the president's choice drew a reaction from the Tar Heels' most intense rival.

"Somebody said that we're not in President Obama's Final Four, and as much as I respect what he's doing, really, the economy is something that he should focus on, probably more than the brackets," Duke coach Mike Krzyzewski said from the Blue Devils' first-round site in Greensboro, N.C.

The president had top-seeded Pittsburgh join the No. 1-seeded Tar Heels and Cardinals in the Final Four, but chose second-seeded Memphis to beat Connecticut in the West Regional.

"I think Memphis has got a very athletic team," Obama told Katz, an ESPN college basketball analyst. "I think they've got a good shot."

Perhaps showing some indecision, Obama initially had the Panthers playing Louisville for the national title in the file posted online. Pitt was scratched out of the title game in favor of North Carolina, which in turn replaced Louisville in the "champion" box.

"Here's what I like about Carolina: experience and balance," Obama said.

Familiarity, too. Obama played a pickup game with Tyler Hansbrough and the Tar Heels while campaigning in North Carolina last April.

"Now, for all the Tar Heels who are watching, I picked you last year — you let me down," Obama said. "This year, don't embarrass me in front of the nation, all right? I'm counting on you. I still got those sneakers you guys gave me."

Katz interviewed Obama last October for a story about the president's brother-in-law, Oregon State basketball coach Craig Robinson. After the interview, Obama invited Katz to play in a pickup basketball game on Election Day in Chicago, and he did.

Katz extracted a promise from Obama that if elected, the new president would reveal his NCAA picks to ESPN when the pairings were announced in March.

"They stayed true to their word and didn't hesitate to get it done," Katz said.

Obama was brutally honest in assessing many of the teams, including Blake Griffin and second-seeded Oklahoma, which he has losing to Syracuse for a spot in the final eight.

"The problem with Oklahoma, they have the player of the year, but they play like, seven guys," Obama said. "I think you start getting worn down."

Among the other notable selections, Obama picked 10th-seeded Maryland to beat No. 7 seed California in the West Regional, fifth-seeded Florida State to make the round of 16, and No. 11 seed Virginia Commonwealth to beat UCLA.

Any chance the president slips away for a few minutes to see how his picks are doing when the tournament begins in earnest Thursday?

"I think the chances are pretty high," he said.

U2 wordles - complete!

No Line On The Horizon (2009)

How To Dismantle An Atomic Bomb (2004)

All That You Can’t Leave Behind (2000)

Pop (1997):

Zooropa (1993)

Achtung Baby (1991)

Rattle & Hum (1988 - including non-U2 lyrics)

The Joshua Tree (1987)

The Unforgettable Fire (1984)

War (1983)

October (1981)

Boy (1980)

Tax Day Tea Party

Taxpayers Gather To Protest Spending, Taxes, Growing Debt

A Leadership of Cowards? Why is Eric Holder embarrassed about enforcing civil rights in Noxubee County?

Shock & Awe Meets the Four Prosperity Killers

In a surprise move today, the Bernanke Fed launched another shock-and-awe stimulus plan that will expand the Fed’s balance sheet another $1.2 trillion through the purchase of $300 billion in long-dated Treasuries, $750 billion in mortgage-backed securities (Fan/Fred), and another $100 billion in U.S. agency debt. The Fed also is launching its Term Asset-Backed Securities Loan Facility (TALF), which could go as high as $1 trillion when it’s all said and done.

The money quote in the FOMC statement: “To provide greater support to mortgage lending and housing markets, the Committee decided today to increase the size of the Federal Reserve’s balance sheet further . . . .” The decision was unanimous — no dissents.

In response, Treasury rates plunged at the long end (as prices were bid up in expectation of Fed buying) and yields fell 50 basis points. Gold surged $45. The greenback plummeted. And stocks moved up 91 points, continuing the rally of the past week.

Of course, the Fed wants to get mortgage rates down toward 4 percent, and some on Wall Street will cheer this. However, it all has a 1970s feel to it.

The Obama budget raises tax rates on investors and businesses, and supports a cap-and-trade tax, universal health care, and various regulations for unionization. Meanwhile, a spate of trade protectionism is breaking out with Mexico and China. All of these are anti-growth policies. And now the Fed is ramping up its monetary pump-priming. So the obvious risk is too much money chasing too few goods producing a stagflationary recovery.

The dollar is out the window. Monetizing debt is back in style.

I go back to Art Laffer’s four prosperity killers: inflation, higher tax rates, re-regulation, and trade protectionism. You can put a check mark next to each box.

While the country is bashing AIG for its ridiculous bonus payments to the traders who blew up the global credit system — and AIG deserves to be bashed — the bigger reality is that economic policies appear to be moving in the wrong direction.

We will get an economic recovery. And there’s a pretty good short-term stock market rally in the cards. But you just have to wonder where all this is leading. Supply-side economics is out, along with hard money.

At a dinner two months ago with Nobelist Robert Mundell, one of the authors of Reaganomics along with Laffer, Mundell told me that we should stabilize the dollar, slash the corporate tax rate, and declare a two-year capital-gains tax holiday. Instead, top marginal tax rates are going up and the dollar’s going down. It can’t be a good thing.

So Many Democrats, So Much Phony Outrage

Obama Received a $101,332 Bonus from AIG

Senator Barack Obama received a $101,332 bonus from American International Group in the form of political contributions according to Opensecrets.org. The two biggest Congressional recipients of bonuses from the A.I.G. are - Senators Chris Dodd and Senator Barack Obama.

The A.I.G. Financial Products affiliate of A.I.G. gave out $136,928, the most of any AIG affiliate, in the 2008 cycle. I would note that A.I.G.’s financial products division is the unit that wrote trillions of dollars’ worth of credit-default swaps and "misjudged" the risk.

The Washington Post reports a "mob effect" at A.I.G financial products division:

A tidal wave of public outrage over bonus payments swamped American International Group yesterday. Hired guards stood watch outside the suburban Connecticut offices of AIG Financial Products, the division whose exotic derivatives brought the insurance giant to the brink of collapse last year. Inside, death threats and angry letters flooded e-mail inboxes. Irate callers lit up the phone lines. Senior managers submitted their resignations. Some employees didn't show up at all.

With the anger and rage that is being exhibited against A.I.G., perhaps the bonuses Obama received from A.I.G. explain Obama's A.I.G crocodile tears.

Now that the Wall street Journal has revealed that A.I.G. paid bonuses of $1 million or more to 73 employees, it's time to ask if recipients of A.I.G. "bonuses," including President Obama, will give what now ought to be taxpayer money back?

Dodd: Administration pushed for language protecting bonuses

(CNN) -- Senate Banking committee Chairman Christopher Dodd told CNN Wednesday that he was responsible for language added to the federal stimulus bill to make sure that already-existing contracts for bonuses at companies receiving federal bailout money were honored.

Sen. Chris Dodd, D-Connecticut, appears on CNN's "The Situation Room" on Wednesday.

Dodd acknowledged his role in the change after a Treasury Department official told CNN the administration pushed for the language.

Both Dodd and the official, who asked not to be named, said it was because administration officials were afraid the government would face numerous lawsuits without the new language.

Dodd, a Democrat, told CNN's Dana Bash and Wolf Blitzer that Obama administration officials pushed for the language to an amendment designed to limit bonuses and "golden parachutes" at those companies.

"The administration had expressed reservations," Dodd said. "They asked for modifications. The alternative was losing the amendment entirely."

On Tuesday, Dodd denied to CNN that he had anything to do with adding the language, which has been used by officials at bailed-out insurance giant AIG to justify paying millions of dollars in bonuses to executives after receiving federal money.

He said Wednesday that the "grandfather clause" language "seemed like innocent modifications" at the time. Watch Dodd's interview with CNN's Dana Bash »

"I agreed reluctantly," Dodd said. "I was changing the amendment because others were insistent."

Dodd said he did not speak to high-ranking administration officials and the change came after his staff spoke with staffers from Treasury.

The White House did not immediately respond to CNN's request for comment.

On Capitol Hill on Wednesday, AIG chief executive Edward Liddy called the roughly $165 million in bonuses "distasteful" but necessary because of legal obligations and competition.

"We have to continue managing our business as a business -- taking account of the cold realities of competition for customers, for revenues and for employees," Liddy told a House Financial Services subcommittee. "Because of this, and because of certain legal obligations, AIG has recently made a set of compensation payments, some of which I find distasteful."

Pennsylvania Rep. Paul Kanjorski, the hearing's chairman, responded to Liddy's statement by arguing that AIG should have refused to pay all the bonuses -- regardless of its contractual obligations with the bonus recipients.

"Let them sue us," said Kanjorski, a Democrat.

Liddy, who joined AIG after the bailout, said some employees have returned their bonus money.

Senators and representatives have vowed to get the bonus money back, but questions have arisen about why Congress didn't act to prevent the bonuses in the first place.

"Well, the only lever we have in this is the fact that these corporations have come to the Congress of the United States and want a taxpayers' bailout," Sen. Chuck Grassley, R-Iowa, said Wednesday on CNN's "American Morning."

"If it weren't for that, we would not have any leverage on how any individual corporation is being run, and we don't pretend to have any leverage on any corporation today in the United States that's not seeking federal help," said Grassley, the top Republican on the Senate Finance Committee. Related: Grassley defends 'suicide' comment

AIG, an ailing insurance giant, has received more than $170 billion in federal assistance. Taxpayers now own nearly 80 percent of the company.

In a letter to Congress on Tuesday, New York Attorney General Andrew Cuomo confirmed that AIG paid 73 employees bonuses of $1 million-plus each this year after it received federal bailout money.

AIG will have to return the $165 million it paid in executive bonuses to the Treasury Department, Treasury Secretary Timothy Geithner said Tuesday.

Grassley and Sen. Max Baucus, D-Montana, on Tuesday introduced a plan that would impose a hefty tax on retention bonuses paid to executives of companies that received federal bailout money or in which the United States has an equity interest. Watch Grassley describe how the tax would work »

Other lawmakers, such as Rep. Charlie Rangel, D-New York, said it would be unfair to use the tax code as punishment, but Grassley said it's not a question of being fair.

"It's unfair what they did to the taxpayers by paying bonuses when they don't have the money to pay bonuses," he said. iReport.com: Sound off on AIG

AIG Chairman and CEO Edward Liddy has defended the bonuses, saying the company needed them to retain top talent and because of contractual rights. He has pledged to reduce 2009 bonus payments, which AIG refers to as "retention payments," by at least 30 percent.

Libby is testifying Wednesday on Capitol Hill. He's likely to face tough questions from lawmakers despite not being at the helm of AIG when the financial fiasco happened. He took over about six months ago. Who's insured by AIG? »

Rep. Barney Frank, D-Massachusetts, said Wednesday that Congress can't just pass a law to abrogate any past contracts because that move would not hold up in court. Instead, he argued the executives don't deserve bonuses under the contract. Watch what Frank says about the bonuses »

"We own this company in effect, and we're not asking that these bonuses be rescinded because we have lent money to the company. I believe we are saying as the owners of the company, we do not think ... we should have paid bonuses to people who made mistakes who were incompetent," said Frank, chairman of the House Financial Services Committee. See facts, attitudes and analysis on the recession »

DFW Luncheon Series - Building Brand Loyalty in a World of High-Velocity Change: How to Embrace and Build a Successful Career in the Multilogue

Wednesday 18-Mar-09 11:30 AM to 1:00 PM CDT

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Speaker: David Chamberlin, Sr. Vice President
MS&L (a member of Publicis Group)

We were unable to register you for this event as the event deadline has passed or the maximum number of seats available has been reached.

Brookhaven Country Club
3333 Golfing Green Drive
Dallas TX 75234
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Phone: (972) 243-6151

Details for "DFW Luncheon Series - Building Brand Loyalty in a World of High-Velocity Change: How to Embrace and Build a Successful Career in the Multilogue"

Brand identity remains critical in today's marketplace, but brand loyalty diminishes as consumers become more and more focused on price. This is especially true in our current economic climate, when getting the best deal is more important than ever.

Join us at Brookhaven Country Club and hear David Chamberlin, award-winning international public relations expert and senior vice president of MS&L (a member of Publicis Group), discuss the five forces reshaping the American marketplace, including building brand loyalty through the multilogue — harnessing the power of word-of-mouth to promote your brand through social networking and collaborative tools such as online video, Widgets for syndication, wikis, message boards, forums and more. You’ll leave his presentation with an increased understanding of:

• Marketplace reality and influencers

• C-Suite — the empowered consumer

• The power of influence

• Ten ways to get ahead in the multilogue

Speaker David Chamberlin

David J. Chamberlin is an award-winning, public relations professional who has international senior level experience building and developing global and domestic communications programs and teams that take advantage of his extensive co-branding, community, gov't and constituent relations, crisis management, product and services marketing, and corporate and financial communications experience. He has worked with and directed internal and external teams for Fortune 500 companies, technology and financial services leaders, and the leading agencies in a number of the world's major markets.

Register by Tuesday 17-Mar-09 5:00 PM CDT
Pricing
Before 11-Mar-09 Before 17-Mar-09 After 17-Mar-09 Member: $28.00 $35.00 $45.00 Non-Member: $38.00 $45.00 $55.00 Student Member: $20.00 $25.00 $25.00 Become a member! View our membership application form.
We were unable to register you for this event as the event deadline has passed or the maximum number of seats available has been reached.
Event Contact	Event Coordinator
Linda Beheler	D' Forman
ama_dfw@yahoo.com	d@formangroup.com

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The Dissing of Laura Bush

By choosing Fort Bragg for her first official trip outside the capital last Thursday, Michelle Obama signaled that she will use her position as First Lady to promote one of America's most deserving causes: our military families. Plainly the families loved it. Just look at the smiles on those children as she read them "The Cat in the Hat."

So it was just a little disconcerting the next morning to hear the First Lady explain how she came to this issue during last year's campaign. "I think I was like most Americans," she told ABC News. "Pretty oblivious to the life of military families. Sort of taking it for granted."

Perhaps Mrs. Obama did take these families for granted. Surely, however, it's extraordinary to suggest that "most Americans" did the same. Certainly not the McCains, the Bidens and the Palins, each of whom had at least one son in uniform. More to the point, the presidential campaign in which she says the issue started "taking shape" for her came nearly seven years into a war that has inspired millions across America to step forward to help our troops.

The informal help includes everyday things such as providing meals or rides for a neighbor or church member whose spouse has been deployed overseas. The Web site AmericaSupportsYou.mil lists many of the more formal initiatives, which range from sending CARE packages overseas to helping homefront spouses find jobs. Under the category "military family support," the Web site provides links to more than 200 programs or organizations.

If the ABC interview was a one-off thing, it would be easy to overlook. But these days the reporting seems to reflect an assumption that if the Obamas haven't done something, nobody else has, either. Certainly the Washington Post did not challenge the First Lady's social secretary when she said, "one idea Michelle had was to have an event for military families -- here they are sacrificing so much for the country and many of them probably have never been invited to the White House."

This uncritical reportage does Laura Bush an injustice. In hundreds of ways -- picnics on the South Lawn, fund-raising for scholarships for the children of sailors on the USS Texas, unheralded visits with the wounded and families of the fallen, the work she did for military kids under her Helping America's Youth initiative -- Mrs. Bush showed our troops and their loved ones how close they were to her heart.

Possibly the difference in treatment owes something to Mrs. Bush's graciousness. Though she had many of her own initiatives -- from improving opportunities for Afghan women to giving voice to the advocates of democracy persecuted by Burma's ruling junta -- she also picked up some of the work of her predecessor, Hillary Clinton. For example, whenever Mrs. Bush spoke about her Preserve America program for national monuments, she would also give credit to Hillary Clinton's Save America's Treasures initiative.

That graciousness, alas, seems only to feed the orthodoxy that condescends to any American woman deemed insufficiently progressive on the received wisdom. This Stepford Wife treatment was on embarrassing display in a recent New York Times profile of Mrs. Obama. "[I]n a departure from her predecessor," gushed the Times, "Mrs. Obama has also begun promoting bills that support her husband's policy priorities." It repeated the point later in the piece.

Only one problem: It's not true. To mention just two, Mrs. Bush took a lead role in the reauthorization fights for No Child Left Behind and the President's Emergency Plan for AIDS Relief. Her advocacy included holding coffees in the residence with key legislators, working with Cabinet members, and promoting these policies in high-profile speeches in places from Africa to the National Press Club. It's just flat-out wrong to suggest otherwise, and the Times owes Mrs. Bush an apology.

Alas, as bad as the slights are, the compliments can be worse. In another recent article on Mrs. Obama, the Associated Press did include a paragraph about Mrs. Bush's work on Burma, Africa and so on. That paragraph was introduced by this sentence: "Even Laura Bush, widely viewed as a traditional first lady, broadened the role."

Even Laura Bush. In that gratuitous "even," the curtain is pulled back on the small-mindedness of an entire class.

Michelle Obama is an accomplished professional and the loving mother of two beautiful girls. In the coming years, she will make her own contributions to a more hopeful America. As she does, is it too much to ask our national press corps to find a way to give Mrs. Obama full credit for these achievements without denying Mrs. Bush the credit she deserves for hers?

Blender Reviews No Line on the Horizon

Immodesty fuels a great, alienated album from the universe’s biggest rock band. Reviewed by Rob Sheffield

“My ego’s not really the enemy,” Bono confides on the new U2 album. “It’s like a small child crossing an eight-lane highway/On a voyage of discovery.” Eight lanes? Keep counting, boyo. All over this record, he paves whole new interstates of ego, with exit ramps darting in and out of every verse, and that’s exactly how it should be. The days are gone when U2 were trying to keep it simple—at this point, the lads have realized that over-the-top romantic grandiosity is the style that suits them, so they come on like the cosmic guitar supplicants they were born to be. No Line on the Horizon is U2’s third killer in a row—by now, it’s bizarre to remember that just 10 years ago, everybody thought they were headed toward the dinosaur band tar pits. But ever since they went from midlife crisis to midlife rejuvenation, with All That You Can’t Leave Behind, they’ve been on a roll. Here, they go for the abstract, Euro vibe of Achtung Baby or The Unforgettable Fire, piling on the cathedral-size keyboards. Brian Eno and Daniel Lanois are back on hand, giving the production a dub-like reverb without quashing the momentum. One song (“Fez—Being Born”) rolls along on the melodic pointillism of minimalist composer Steve Reich; while another (“I’ll Go Crazy if I Don’t Go Crazy Tonight”) bites the piano hook from Journey’s “Faithfully,” and that gives a rough picture of how far U2 range on Horizon. “Moment of Surrender” is the high point—seven minutes of Bono in gospel mode, lost in the late-night city (“I was speeding on the subway/Through the stations of the cross”), questing for salvation and finding it in Adam Clayton’s bass. The Edge fleshes out the yearning with some piercing crazy-diamond guitar. It’s the kind of gimme-divinity anthem that U2 cut their teeth on, except it really does seem like they’ve gotten better at these songs now that they’ve picked up some bummed-out adult grit. Bono actually sounds scared of something in this song, and whether his nightmares are religious or sexual, the fear gives his voice some heft. Compared to “Moment of Surrender,” “I Still Haven’t Found What I’m Looking For” just sounds like a callow kid trying to snag a date at Bible camp. “Unknown Caller” is another vivid picture of spiritual jet lag—usually when rock stars use their cell phones as metaphors, it seems like they got bored at the airport, but this one truly puts on the chill. Bono reaches Bowie-in-Berlin levels of arty alienation (“I had driven to the scene of the accident/And I sat there waiting for me”), while the guitars crackle in the album’s finest Edgemanship. “Get On Your Boots” is a manic low-end rocker a la “Vertigo,” with phased ’70s-style synths, buzzing guitar and a breathless vocal from Bono that brings back fond memories of the days when the Edge tried to rap. (All the talk about “sexy boots,” community, joy, war, Satan and bomb scares—well, it’s typical of the jumble of eroticism, politics and spirituality that defines this album, and, probably, Bono’s BlackBerry. ) The songs get slower and less compelling toward the end; that’s how U2 always pace things. Yet they achieve liftoff in the rockers, especially “No Line on the Horizon” (yet another lonely party girl who wants more than a party) and “Magnificent” (yet another hymn to the powers of love). You can hear Eno’s touch all over: “Moment of Surrender” opens with an organ solo straight from “The Big Ship,” on his 1975 classic Another Green World. But it’s Bono who dominates. He hasn’t crammed in this many words per song in over 10 years—to be specific, since the least-loved item in the U2 catalogue, Pop, the grim, slow, morbid flop they tried and failed to sell as their ironic techno statement. The difference now is that they’re no longer apologizing for their messy emotions or their lofty ambitions. Ego really isn’t their enemy—it’s their instrument, and on No Line on the Horizon they just plug it in and play. DOWNLOAD “Moment of Surrender,” “Unknown Caller,” “I’ll Go Crazy If I Don’t Go Crazy Tonight,” “Breathe”