Neil Barofsky was a career federal prosecutor who was appointed by George W. Bush at the end of 2008 as the Special Inspector General overseeing the Troubled Asset Relief Program (SIGTARP) that was a major part of the bailout program following the financial collapse, and he continued in that role under president Obama until he resigned in March 2011. [Read more…]
For nonbelievers like me, one of the most irritating aspects of the US tax system is the tax-exemption given to churches under the section of the code known as 501(c)(3) that is meant to provide tax relief for organizations that improve the general welfare. This topic has been discussed before in the context of whether churches that overtly take political stands should continue to receive that benefit and I concluded that it was unlikely that the IRS or the courts would eliminate it. [Read more…]
News reports are emerging that the Boy Scouts are seriously considering lifting the ban on gay members and scout leaders and that the decision might come very soon.
The Boy Scouts of America, one of the nation’s largest private youth organizations, is actively considering an end to its decades-long policy of banning gay scouts or scout leaders, according to scouting officials and outsiders familiar with internal discussions.
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The new policy, now under discussion, would eliminate the ban from the national organization’s rules, leaving local sponsoring organizations free to decide for themselves whether to admit gay scouts.
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The discussion of a potential change in policy is nearing its final stages, according to outside scouting supporters. If approved, the change could be announced as early as next week, after the BSA’s national board holds a regularly scheduled meeting.
This reversal, coming just seven months after the national body affirmed its ban on gay members, demonstrates the remarkable rapidity with which acceptance of equal rights for the LGBT community is advancing. The Boy Scouts have been getting a public relations hammering and losing donors because of their reactionary stand of excluding gays and seem to have realized that any group that depends on membership of young people cannot have such a policy and survive because young people are way ahead of the old guard in acceptance of diversity.
As I wrote earlier, it is usually the case that in such reversals by large organizations, they usually edge slowly towards doing the right thing by taking incremental steps. The Boy Scout policy change, if confirmed, will not positively welcome gays into the group but simply drops the national banning policy, allowing local troops to make their own decisions. So in the short term one could expect some affiliates to accept gays and others not.
But such minimal steps tend to create their own problems. For example, what happens to a gay scout whose family moves from an area with an accepting troop to one that bans them? What would happen if a gay scout leader rises in the hierarchy to a position overseeing a local affiliate that excludes gays? The proposed change, while it is to be welcomed, will cause all manner of internal contradictions.
It is only a matter of time (I give it five years at the most) before the national group shifts to a more affirmative position, requiring that all affiliates not exclude gays.
Last night I watched the Frontline documentary The Untouchables that I wrote about yesterday that explored the question of why, more than four years after the financial debacle involving widespread mortgage fraud, not a single high-level Wall Street executive has faced criminal prosecution. All that has happened is a bunch of very low-level people being charged and a series of civil prosecutions resulting in plea bargains in which some banks have paid fines that seem large but are puny compared to the scale of the fraud, and which the bank executives can simply write off as the cost of doing business while they continue to enrich themselves with high salaries and bonuses. The program covers some of the same ground as that excellent 2010 documentary Inside Job that I reviewed here [Read more…]
I have heard good reports of a new Frontline program that was broadcast yesterday on PBS titled The Untouchables that examines why, four years after the financial crisis, not a single Wall Street executive has been prosecuted. I have not seen it yet but plan to but since these programs are freely available online for just a limited time, I wanted to pass it on. [Read more…]
I have been highlighting the unequal treatment meted out by the Obama administration’s justice department, where extremely harsh treatment is given to low-level criminals and whistleblowers and hackers while those who commit massive damage to the financial system that cause immense hardship t many, and even acknowledge major wrongdoing, are given slaps on the wrist. It is telling that as yet, not a single high-level official in the financial sector has gone to jail, or even faced the threat of jail, for their actions. [Read more…]
The Wall Street Journal had a story on the impact of the recently concluded ‘fiscal cliff deal’ on people’s taxes that was passed by Congress and signed by president Obama. It was accompanied by this infographic.
The so-called ‘debt crisis’ has spawned a lot of groups ostensibly for the purpose of suggesting ways to reduce it. But as this news report suggests, the members of one such group known as ‘Fix the Debt’ may not be as disinterested as they claim to be, because they simultaneously serve other businesses that are directly affected by the measures they propose. [Read more…]
When the great financial bailout of 2008 was rushed through with almost no discussion, I said in a series of six posts that it looked like a massive swindle perpetrated on ordinary taxpayers to benefit the wealthy and the financial sector and that we should vigorously oppose it. As I said in the first post in that series: [Read more…]
My late father worked for one employer his entire life and that was the state bank of Sri Lanka. During the middle portion of his career, he served as manager at various branches around the country and so we moved along with him every four or five years or so. [Read more…]
