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Thursday, Feb 4, 2010 11:15 PM UTC2010-02-04T23:15:00Zl, M j, Y g:i A T

Andrew Cuomo takes on the banksters

The New York attorney general accuses BofA execs of lying to shareholders and extorting the federal government

Ken Lewis

Bank of America Corp.'s CEO Ken Lewis arrives at the building that houses the New York Attorney General Andrew Cuomo's office, Thursday, Feb. 26, 2009 in New York. (AP Photo/Mary Altaffer) (Credit: Mary Altaffer)

In the grand tradition of his predecessor Eliot Spitzer, New York State Attorney General Andrew Cuomo is generating tons of publicity by whacking Wall Street with a big fat stick. But even if you are predisposed to dismiss the civil fraud suit his office filed Thursday against former Bank of America CEO Kenneth Lewis and former chief financial officer Joseph Price as political grandstanding designed to smooth Cuomo’s path into the governor’s mansion this November, the 90-page lawsuit still makes for some great reading.

We’ve got BofA executives, in sworn testimony, directly contradicting previous sworn testimony and then failing to “recollect” their earlier conversations with state investigators. That’s kind of ballsy. We’ve got a BofA treasurer worriedly telling CFO Price that he didn’t want to be talking some day in the future about the topic they were then discussing — huge losses at Merrill Lynch — “through a glass wall over a telephone.” And we’ve got a mysterious smoking gun: the summary firing, without explanation, immediately following a shareholder’s vote to approve BofA’s acquisition of Merrill, of BofA’s general counsel Tim Mayopoulos; the man, as described in the suit, “who knew too much.”

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Andrew Leonard

Andrew Leonard is a staff writer at Salon. On Twitter, @koxinga21.  More Andrew Leonard

Thursday, Feb 4, 2010 11:10 PM UTC2010-02-04T23:10:00Zl, M j, Y g:i A T

Racists heart Vanity Fair

A writer's criticism of the magazine's all-white March cover brings out the bigots

Racists heart Vanity Fair
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“Until I actually see discrimination being demonstrated, I’m giving the benefit of a doubt,” says an early commenter on Joanna Douglas’ recent Shine post pointing out the lack of diversity on Vanity Fair’s March “New Hollywood” cover. “That’s the healthiest thing. When I’m sure of discrimimination[sic], THEN I’ll cry foul. Loudly.” OK, let me see if I understand this. We don’t want to get carried away with crying “discrimimination” here, because some nice white person might feel unfairly accused, and avoiding that is surely more important — healthier — than pointing out the ways in which white people are continually presented as the default human beings and people of color as afterthoughts, if they’re thought of at all. Right?

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Kate Harding is the co-author of "Lessons From the Fatosphere: Quit Dieting and Declare a Truce With Your Body" and has been a regular contributor to Salon's Broadsheet.   More Kate Harding

Thursday, Feb 4, 2010 10:05 PM UTC2010-02-04T22:05:00Zl, M j, Y g:i A T

There is job hysteria for a reason

Not everyone can afford to "ride out" the slump, as they're being instructed to do by some employed pundits

The Washington Post’s Steven Pearlstein tells me on MSNBC that the American people shouldn’t expect Washington to be able to do anything about jobs because it’s the result of “imbalances” that have to be “worked out” and it’s going to take time and people just need to be patient and take their medicine. (Mrs. Alan Greenspan agreed and added this hysteria over jobs in Congress is all just politics in the wake of Massachusetts.)

Those are excellent observations from successful political celebrities who have jobs and are among the wealthiest Americans who can afford to “ride out” the slump. For most people, who aren’t any of those things, not so much.

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"Digby" has been a puppet, a pauper, a pirate, a poet, a pawn and a writer whose political and cultural observations have entertained and informed the blogosphere since 2002. They can currently be found at www.digbysblog.blogspot.com.   More Digby

Thursday, Feb 4, 2010 10:05 PM UTC2010-02-04T22:05:00Zl, M j, Y g:i A T

Who’s killing financial reform?

Call me old-fashioned, but I thought Congress was in charge of passing legislation, not Wall Street

Senator Chris Dodd, the chairman of the Senate Banking Committee, scolded Wall Street representatives at a hearing Thursday for sending “an army of lobbyists whose only mission is to kill the common-sense financial reforms” needed by the public. “The fact is,” Dodd said, “I am frustrated, and so are the American people.” He charged that Wall Street’s intransigence was the reason for Congress’s failure to pass any bill to regulate the Street. “The refusal of large financial firms to work constructively with Congress on this effort borders on insulting to the American people who have lost so much in this crisis.”

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Robert Reich, a professor of public policy at the University of California at Berkeley, was secretary of labor during the Clinton administration. He is also a blogger and the author of "Aftershock: The Next Economy and America's Future."  More Robert Reich

Thursday, Feb 4, 2010 10:05 PM UTC2010-02-04T22:05:00Zl, M j, Y g:i A T

Late-night’s new lady

David Letterman welcomes a woman into the writers' room

David Letterman

FILE - In this Oct 8, 2007 file photo image originally provided by CBS, David Letterman appears on the "Late Show with David Letterman," in New York. (AP Photo/John Paul Filo, CBS, File) ** MANDATORY CREDIT; NO SALES; NO ARCHIVE; NORTH AMERICA USE ONLY ** (Credit: AP)

“The Late Show With David Letterman” just got a minor estrogen injection. There is now officially a woman in the men’s writers’ room: Former writers’ assistant Jill Goodwin has been promoted as a staff writer.

It’s long overdue and follows an outcry over late-night TV’s dearth of lady scribes. As Lynn Harris wrote last month in Salon, “if aliens landed tomorrow and analyzed the writing staffs of late-night comedy shows — Earth’s daily dose of mainstream humor — they might draw the conclusion that laughter is almost exclusively the domain of the human male.” Jay Leno doesn’t have any women writers; neither did Conan O’Brien before his sad exit. Until now, Letterman was also lady-less. 

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Tracy Clark-Flory

Tracy Clark-Flory is a staff writer at Salon. Follow @tracyclarkflory on Twitter.  More Tracy Clark-Flory

Thursday, Feb 4, 2010 9:28 PM UTC2010-02-04T21:28:00Zl, M j, Y g:i A T

GOP makes Christmas bomber lose-lose for Obama

Sen. Kit Bond, R-Mo., says the administration helped terrorists as it defended itself from Republican criticism

Fans of “Calvin and Hobbes” may remember “Calvinball,” the much-loved game that was sometimes featured in the comic strip. Long story short, the rules to “Calvinball” are constantly changing, and nearly always unknown — which makes it easy for Calvin to suddenly announce a rule change that helps him. Sometimes, politics is a lot like that.

The right has been getting a lot of mileage lately out of its criticism of the way the Obama administration handled the arrest and interrogation of Umar Farouk Abdulmutallab, the man who allegedly tried to blow up a Northwest plane as it neared Detroit on Christmas Day. They’ve done this despite copious evidence that Abdulmutallab wouldn’t have been treated any differently under the Bush administration, or at least that people in similar situations — like shoe bomber Richard Reid — were treated the same way Abdulmutallab was.

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Alex Koppelman is a staff writer for Salon.  More Alex Koppelman

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