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Democrats Distancing Themselves From Obama

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© Associated Press/Pablo Martinez Monsivais
President Barack Obama speaks to members of the media during a Cabinet meeting in the Cabinet Room of the White House, Wednesday, Aug., 3, 2011.
It's been a tough summer for swing-district Democrats seeking reelection in 2012 with a president at the top of the ticket whose approval ratings are in the weeds.

As these members begin to focus on their reelection bids after Labor Day, they are increasingly calculating how close is too close to an unpopular President Obama.

Take Rep. Peter DeFazio, D-Ore., who represents a district that nearly went for Republican George W. Bush in 2004. In a recent local TV interview, DeFazio said of Obama that the word "fight" isn't "in his vocabulary" -- and he then repeated the criticism to constituents at a town hall. Or Rep. Bill Owens, D-N.Y., who won a Republican-friendly district in a special election last year and pointedly declined to endorse the sitting president last week.

The president's dismal poll ratings, should they continue into next year, could sink Democratic hopes for reclaiming ground in the House and retaining control of the Senate -- especially in battleground states and swing districts.

"If he is where he is now, it's not going to work for Democrats," said Rep. Dan Boren, D-Okla., who opted earlier this year not to seek reelection in his competitive district.

Footprints

Berlusconi vows to leave 'shitty' Italy in conversation recorded by police

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© European Press Association/Alessandro Di Meo
Silvio Berlusconi looks on at the Chamber of Deputies in Rome, Italy, 22 June 2011.
Transcripts from blackmail investigation reveal the Italian prime minister's frustration with his country

In a sign of his frustration at the investigations into his alleged crimes and misdemeanours, Silvio Berlusconi vowed in July to leave Italy, which he described as a "shitty country" that "sickened" him.

The Italian prime minister's astonishing remarks are contained in the transcript of a telephone conversation secretly recorded by police investigating claims he was being blackmailed about his sex life.

At dawn on Thursday, police swooped on a flat near Via Veneto - one of Rome's most expensive streets - to arrest Giampaolo Tarantini, a central figure in a scandal that threatened to bring down Berlusconi two years ago.

Tarantini's wife, Angela Devenuto, was also taken into custody and a search launched for a third person. The arrest warrant shows that the three are accused of extorting at least €500,000 (£440,000) "as well as other benefits of economic significance". Berlusconi has admitted paying the couple, but said he did so voluntarily.

Two years ago, Tarantini, a businessman from Bari in southern Italy, said he supplied 30 women for parties at the prime minister's Roman palazzo. He told police at least six women spent the night there.

Dollar

U.S. Is Set to Sue a Dozen Big Banks Over Mortgages

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© Joshua Lott/New York Times
A foreclosed home in Arizona. The Federal Housing Finance Agency suits will argue that banks failed to perform due diligence and missed evidence that borrowers’ incomes were inflated or falsified.
The federal agency that oversees the mortgage giants Fannie Mae and Freddie Mac is set to file suits against more than a dozen big banks, accusing them of misrepresenting the quality of mortgage securities they assembled and sold at the height of the housing bubble, and seeking billions of dollars in compensation.

The Federal Housing Finance Agency suits, which are expected to be filed in the coming days in federal court, are aimed at Bank of America, JPMorgan Chase, Goldman Sachs and Deutsche Bank, among others, according to three individuals briefed on the matter.

The suits stem from subpoenas the finance agency issued to banks a year ago. If the case is not filed Friday, they said, it will come Tuesday, shortly before a deadline expires for the housing agency to file claims.

The suits will argue the banks, which assembled the mortgages and marketed them as securities to investors, failed to perform the due diligence required under securities law and missed evidence that borrowers' incomes were inflated or falsified. When many borrowers were unable to pay their mortgages, the securities backed by the mortgages quickly lost value.

Fannie and Freddie lost more than $30 billion, in part as a result of the deals, losses that were borne mostly by taxpayers.

Wall Street

U.S. government to sue major banks over mortgages

bank of america

The United States plans to file lawsuits against more than a dozen big banks over mortgage-backed securities seen to have fueled the 2008 economic crisis, the New York Times said.

The lawsuits are set to be filed Friday or early next week against Bank of America, JP Morgan Chase, Goldman Sachs, Deutsche Bank and others, the newspaper reported, citing three unnamed individuals briefed on the matter.

The lawsuits will accuse the banks of bundling toxic mortgages -- held by borrowers with inflated or falsified incomes -- as securities and marketing them to investors.

Bizarro Earth

Obama Biggest Recipient of BP Cash

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© Reuters
BP has also spent millions each year on lobbying — including $15.9 million last year alone — as it has tried to influence energy policy.
While the BP oil geyser pumps millions of gallons of petroleum into the Gulf of Mexico, President Barack Obama and members of Congress may have to answer for the millions in campaign contributions they've taken from the oil and gas giant over the years.

BP and its employees have given more than $3.5 million to federal candidates over the past 20 years, with the largest chunk of their money going to Obama, according to the Center for Responsive Politics. Donations come from a mix of employees and the company's political action committees - $2.89 million flowed to campaigns from BP-related PACs and about $638,000 came from individuals.

On top of that, the oil giant has spent millions each year on lobbying - including $15.9 million last year alone - as it has tried to influence energy policy.

During his time in the Senate and while running for president, Obama received a total of $77,051 from the oil giant and is the top recipient of BP PAC and individual money over the past 20 years, according to financial disclosure records.

An Obama spokesman rejected the notion that the president took big oil money.

Bizarro Earth

Exxon Mobil Clinches Arctic Oil Deal with Rosneft

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© AP Photo
Exxon Mobil boss Rex Tillerson was at the signing ceremony with Russian PM Vladimir Putin
US oil major Exxon Mobil has clinched an Arctic oil exploration deal with Russian state-owned oil firm Rosneft.

The venture seemingly extinguishes any remaining chance of BP reviving its own deal, which lapsed in May.

The agreement was signed on Tuesday in the presence of Prime Minister Vladimir Putin, a Rosneft spokesman said.

Prime Minister Putin said that it would also allow Rosneft to develop fields in the Gulf of Mexico and Texas, according to local media reports.

"New horizons are opening up. One of the world's leading companies, Exxon Mobil, is starting to work on Russia's strategic shelf and deepwater continental shelf," he said.

Stormtrooper

UK: Soldiers "Should Run Schools in Crackdown on Indiscipline"

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© Press Association

Soldiers should be retrained to work in schools, says Lord Guthrie
A new chain of schools staffed entirely by ex-servicemen should be created to improve standards of discipline in the inner-cities, according to the former Chief of the Defence Staff.

Lord Guthrie said a generation of schools modeled on the Armed Forces was needed to create a culture of respect among children from the "toughest and roughest backgrounds".

He insisted that too many schools were currently failing to address serious behavioural problems.

Plans are already being drawn up to open a state secondary school in Manchester staffed by ex-members of the Army, Navy and RAF.

The Phoenix Free School - a comprehensive run free of local council control - could be opened within two years to serve pupils aged 11 to 18.

Its backers claim it will impose zero-tolerance discipline, place a heavy emphasis on sport and outdoor activities and encourage competition with a traditional house system and streaming by academic ability.

Lord Guthrie, who has been named as the school's patron, said that if the Manchester comprehensive was a success it should "serve as a model for a chain of hundreds of schools across the country".

Document

'Anon member' claims credit for WikiLeaks takedown

Friend turns foe

A Twitter user who claims affiliation to the infamous Anonymous hacktivist collective has claimed responsibility for launching denial of service attacks that floored WikiLeaks on Tuesday night.

The attack against the whistle-blowing site occurred at the same time as less high-profile assaults against Pastebin and 4Chan, the anarchic image board and birthplace of Anonymous.

The assaults were reportedly field trials for a new JavaScript-based DDoS tool, dubbed RefRef, designed to exploit SQL server flaws on targeted websites. RefRef is the successor to the notorious LOIC attack tool, which discloses users' IP address by default, as many arrested hacktivists now know only too well.

anonwiki
© The Register

HAL9000

IBM builds biggest-ever disk for secret customer

120 PB monster 'for simulation'. Nuke labs?

Flash may be one cutting edge of storage action, but big data is causing developments at the other side of the storage pond, with IBM developing a 120 petabyte 200,000-disk array.

The mighty drive is being developed for a secret supercomputer-using customer "for detailed simulations of real-world phenomena" according to MIT's Technology Review, and takes current large-array technology trends a step or two further.

IBM Almaden storage systems research director Bruce Hillsberg says that 200,000 SAS disk drives are involved, rather than SATA ones, because performance is a concern. A back-of-an-envelope calculation suggests 600GB drives are being used and Seagate 2.5-inch Savvios come to mind.

Bad Guys

Dick Cheney, the Ultimate American Terrorist

Dick Cheney
© Doug Mills / The New York Times
Vice President Dick Cheney in a June 20, 2007 file photo.
Simply stated, there is no doubt that Saddam Hussein now has weapons of mass destruction.

- Dick Cheney


It is axiomatic by now: when someone leaves government service, especially from a high-profile position, they write a book. They all do it, sometimes more than once. Richard Nixon is the main example of one who produced a multi-volume apologia; by the time he went into the ground, he'd penned enough books to fill a wide shelf. Henry Kissinger was similarly prolific, which leads one to wonder about the relationship between criminal activities and the printed page. Nixon was chased from office after a series of crimes that, at the time, had no precedent, and Kissinger is still so infamous that he cannot travel abroad for fear of arrest. Both wrote enough books to take up half the political science section of any local bookstore, perhaps in the vain attempt to explain away the lasting damage their actions did to the republic.