Workers raises tarps to spare spectators the sight of fallen horses at Palm Beach International Polo Club

On April 19, 21 polo ponies recently arrived at the Palm Beach International Polo Club to compete in the U.S. Open Polo Championship suddenly collapsed and died. Why the horses belonging to the Venezuelan Lechuza Caracas (Caracas Owl) died was at the time a mystery.

This ESPN 13:13 video investigates and explains the tragedy.

Polo ponies are routinely given vitamin supplements to help them recover from the stress of match play. The Venezulan team was in the habit of using Biodyl, a French dietary supplement containing Vitamin B12, Potassium, Magnesium, and Selenium. Unfortunately, Biodyl is not FDA-approved, so the Venezuelan team could not import their own vitamins into the United States.

Instead, they had a local pharmacist compound the equivalent of Biodyl, but something went wrong with the prescription, and the horses received a lethal overdose of Selenium.

I would take this incident as evidence of the unintended consequences of unnecessary regulation. Do we really need Big Brother telling us what dietary supplements we can give our horses?

Typically, the ESPN reporters conclude with calls for more intensive regulation.

Coming soon to a city near you?

Congressional Republicans (1, 2) and democrats are raising serious questions about Barack Obama’s plans to release terrorist detainees from the US holding facility in Guantanamo Bay into the United States, pointing to already existing statutes barring entry to recipients of terrorist training and introducing further legislation to block the president’s plans.

Jennifer Rubin, at Commentary, thinks Obama has painted himself into a corner on this one, and is going to incur serious political costs whichever way he decides in the end to proceed.

So what does the president do now? To go back on his promise to close Guantanamo would mean incurring the wrath of not only the Left in the U.S., but of the fawning European leaders and public who praised his decision to shut the place down. And it would, of course, be a humiliating admission that his initial pronouncement — made even before Eric Holder visited Guantanamo — was ill-conceived. He can try to fudge the issue or delay, but ultimately he has to do one or the other: proceed to close Guantanamo and begin releasing the detainees, or admit error and adhere to the Bush policy of housing dangerous terrorists there. It is not “a false choice,” but a very real one. We’ll see which audience, American or European, he is willing to offend.

David Hackett Souter

R. Emmett Tyrrell offers a column on the retirement of Justice David H. Souter, observing that while we conservatives are not unhappy to see him go, neither is he particularly admired or respected by the liberals. Such, I suppose, are the inevitable unappetizing fruits of Souter’s arid and sterile Brahmanic legal positivism.

Is it possible that Justice David H. Souter has sensed what I have sensed in reading the liberals’ dutiful adieus to him, their judicial Benedict Arnold? They all are snickering behind their hands. Sure, he pleased them enormously with his 19 years of tergiversations against conservative jurisprudence, after being President George H.W. Bush’s “conservative” Supreme Court nominee. But through all Souter’s years here in Washington, he revealed himself to be a stupendously self-absorbed oddball and not much else. He fell far short of the liberals’ conception of a progressive Supreme Court dissenter, to wit: a charismatic, outspoken, slightly outre intellectual on the model of William O. Douglas.

Souter has been, as The Washington Post puts it, notable for his “quirky independence in spurning the right.” The operative word here is “quirky.” It is not meant as a compliment. Our liberals admire eccentricity but not the eccentricity of a misanthropic loner. Thus, in every supposedly friendly retrospective that I have read of him since he informed the Democratic president that he, a Republican’s Supreme Court nominee, is retiring, the liberals have stressed his weirdness: the misfit, the loner, the guy whose luncheon consists of yogurt and an apple, which he eats “core and all.” That was The New York Times speaking. ….

These are the details that the liberals have been relating as they recapitulate his career as a Republican-turned-progressive. As I say, they are snickering.

They have very little to say about Souter’s work on the court other than that he sided routinely with the liberal minority. I can understand their reticence. After conferring with scholars who follow the court, I can report that they recall not one opinion of his that was memorable for anything other than smugness. As one told me, Justice Stephen Breyer’s dissents have been “thought-provoking,” Justice John Paul Stevens’ “intelligent.” Souter, in his dissents, has been simply a liberal tag-along. There is something about him that is not quite adult. He asks questions persistently, the liberals say with a wink. Well, so does a lost child. ..

Souter’s bland years on the court should remind us how important it is for our leaders to have experience. President Bush and his advisers might have thought it was clever of them to nominate a judge with almost no paper trail. After serving on the New Hampshire Supreme Court for seven years, Souter served just two months on the 1st U.S. Circuit Court of Appeals before his nomination. But for almost two decades, it has been clear that he is out of his depth. The troubling thought is that the president who is about to nominate Souter’s replacement is out of his depth, too.

I began this column with a question. Does the departing justice realize that the liberals, whom he benefited, are snickering? The answer is no. As with much else, he is oblivious.

Tom Suhadolnik explains how Barack Obama is simply setting aside conventional bankruptcy law in order to nationalize the automobile industry while moving simultaneously to nationalize the financial system using existing regulatory powers combined with intimidation.

How many Americans who pulled the democrat lever last November really intended to vote for Marxism?

At the end of April the Obama administration tested its ability to take direct control of the US financial system. The test was a success. There is a revolution underway which would impress Chavez or Castro. If you were like most people, you did not realize it happened.

As the details of the GM restructuring plan emerged, on Monday, April 27th, Lawrence Kudlow was one of the first to sound the alarm as secured lenders and bond holders were being given a fraction of the amount owed to them under long established bankruptcy law.

What is going on in this country? The government is about to take over GM in a plan that completely screws private bondholders and favors the unions. Get this: The GM bondholders own $27 billion and they’re getting 10 percent of the common stock in an expected exchange. And the UAW owns $10 billion of the bonds and they’re getting 40 percent of the stock. Huh? Did I miss something here? And Uncle Sam will have a controlling share of the stock with something close to 50 percent ownership. And no bankruptcy judge. So this is a political restructuring run by the White House, not a rule-of-law bankruptcy-court reorganization. …

To understand the gravity of the events you need a basic understanding of bankruptcy laws. The pecking order of bankruptcy claims is supposed to be:

1. Debtor in Possession (DIP) financing which is loaned to the restructuring company
2. Secured Lenders – creditors whose loans are backed by assets such as real estate or equipment
3. Unsecured Lenders – creditors such as bond holders, vendors and the UAW
4. Equity Owners – shareholders

When a company files for bankruptcy the claims that are superior (represented by a lower number) in the pecking order are paid first. Claims with equal status are treated equally; those claims are almost always paid on the same pro rata basis. It is an explicit goal of our bankruptcy system is to treat all creditors equally. …

In the case of GM, the UAW and bond holders are both unsecured creditors with equal rights under bankruptcy law. As The Cleveland Plain Dealer reported Monday April 27th, interim GM CEO Fritz Henderson contends a 2007 deal between GM and the UAW gives preference to unsecured claims of the UAW. The bond holders never explicitly agreed to have their claims subordinated to the union so that contention is certainly open to debate in bankruptcy court.

Considering GM owes the UAW $20 billion (Henderson says the figure is closer to $30 billion) and bond holders $27 billion, they should receive a similar ratio of shares in the restructured GM. The deal announced by Henderson gives roughly 40% of the stock in a reorganized GM to the UAW, 50% to the government and 10% to the bond holders. The math does not make sense even if you accept Henderson’s contention that the UAW is owed $30 billion. …

The Chrysler reorganization details are more bizarre. At Chrysler the institutions owed $6.9 billion by Chrysler are secured creditors. As a matter of law, the secured claims would be superior to those of the UAW in bankruptcy court.

Putting the Chrysler deal in terms of household finances, the secured creditors would be the banks holding the mortgage and car note. Instead of the car and house going back to the bank in bankruptcy, the Chrysler deal calls for the car and house to be shared with unsecured creditors like credit card companies and the cable company. That is not how the system is supposed to work.

These bedrock principles are codified in our bankruptcy laws. …

Obama has made it clear he is willing to use his political muscle on the banks as well. …

The Obama administration will be able to make a plausible argument that nationalization of the banks was forced upon the administration by capitalism run amok. Given the type of patently absurd statements made by politicians of all stripes, this rather nuanced position will pass without a second thought.

In summary, the mechanism to nationalize the US financial system is now in place. All the levers are controlled by the executive branch. Here how it works:

1. The government determines various loses have eroded a particular bank’s balance sheet and regulatory intervention is necessary.
2. The bank is ordered to raise additional capital to maintain the proper asset ratio.
3. Increasing government activism causes private capital to avoid investing in banks.
4. The government is “forced” to loan more money to the bank in exchange for more stock and control via loan conditions like those found in earlier TARP loans and legislation.
5. As government acquires more power they force the bank to accept loses to benefit key constituencies of the administration (like the UAW) or the sale of toxic assets to firms like Pimco.
6. If the government does not own the majority of the bank’s stock return to step 1and repeat.

On May 5th, Fox reported as many as 10 of the top 19 banks in the country will need to raise additional capital following the stress tests. The troubled asset auction program is expected to start within a few weeks. If the administration chooses to do so the largest banks in the country can be nationalized by the end of summer.

There is no additional legislative action required to allow the executive branch to continue on this path. The regulatory framework was reviewed and approved by the judicial branch decades ago. The public at large may not even notice what is happening. Anyone looking for strutting fascists will be disappointed; this revolutionary change will be brought about by clean cut men and women in pinstripes.

Not only can it happen here, it is happening here.

Read the whole thing.

Heck bull

The Nazis were pretty bad, but they weren’t all bad. They invented the Volkswagen and the Superhighway. Leni Reifenstahl made terrific films, and Adolph Hitler was a superb designer of military uniforms. Hermann Goering, in his capacity as Reichsforst- und Jägermeister (Reich Master of the Forest and Hunt), was a keen conservationist eager not only to protect endangered species of big game, but ambitious enough to promote attempts at breeding backward in order to restore especially desirable extinct species, including most notably the aurochs (Bos primigenius).

Reuters reports that one British aficionado has brought a herd of the Heck cattle resulting from Hermann Goering’s breeding project to Britain. According to Wikipedia, there are roughly 2000 Heck cattle in Europe these days. The last known aurochs, a female, died in 1627 in the Jaktorów Forest in Masovia (Poland).

A conservationist has re-introduced to Britain a modern relative of the ancient ancestor to domesticated cattle.

The shaggy, russet-colored “Heck” cattle imported into Britain from The Netherlands by Derek Gow are the product of a Nazi-sponsored breeding program intended to bring back the aurochs,” an ancient beast mentioned by Julius Caesar, British newspapers reported on Wednesday.

The ancient species were immortalized tens of thousands of years ago in ochre and charcoal cave paintings in the Great Hall of the Bulls at Lascaux in southwest France.

The modern-day British herd brought to Devon, England is the product of Nazi breeding, an attempt to bring back the extinct aurochs, the last of which died of old age a Polish forest nearly four centuries ago. …

The herd has Herman Goering, the head of Hitler’s Luftwaffe, to thank for its existence. Goering hoped to recreate a primeval Aryan wilderness in the conquered territories of Eastern Europe. Two zoologist brothers, Lutz and Heinz Heck, took on the task of scouring Europe for the most primitive breeds of cattle they could find in the belief that by “back breeding” they could resurrect the extinct species.

Heinz Heck, based at Munich Zoo, cross-bred shaggy Highland cattle with animals from Corsica and Hungary, while his brother in Berlin was crossing Spanish and French fighting bulls. The success of the Hecks’ breeding program is as disputed as the techniques they used.

Hat tip to the News Junkie.

They had a lot to do with bringing down George W. Bush. Jack Kelly wonders if Obama has not recently made the wrong enemies.

Has Barack Obama made an enemy who can sabotage his presidency?

The presidency of George W. Bush began to unravel when some in high positions at the Central Intelligence Agency began waging a covert campaign against him.

It began in the summer of 2003 when officials at the CIA asked the Justice department to open a criminal investigation into who had disclosed to columnist Robert Novak that Valerie Plame, wife of controversial former diplomat Joseph Wilson, worked at the CIA.

The officials knew at the time the Intelligence Identities Protection Act did not apply to Ms. Plame, who’d been out of the field for more than five years.

Another blow was struck with the publication in 2004 of the book “Imperial Hubris” by Michael Scheuer, who’d headed the bin Laden desk during the Clinton administration. It was harshly critical of the Bush administration’s conduct of the war on terror in general, and the invasion of Iraq in particular.

Never before had a serving officer been allowed to publish such a book.

The CIA typically slow-rolled and censored books even by retired CIA directors.

“Why did the CIA allow such a controversial book to be published in the first place?” asked attorney Mark Zaid, who specializes in national security law. “There is simply no question that the CIA could have prevented the publication of Scheuer’s book if it had wanted to do so. And no court would have sided with him.”

Why would some at the CIA want to sabotage President Bush? One motive might have been to deflect blame for intelligence failures. The CIA confidently had predicted Saddam Hussein possessed weapons of mass destruction. But none were found. The tactical intelligence the CIA provided to the U.S. military forces invading Iraq proved nearly worthless. And the CIA was caught flat-footed by the insurgency that developed several months after Saddam’s fall.

There may have been a simpler motive. The novelist Charles McCarry was a deep cover CIA operative for ten years. “I never met a stupid person in the agency,” he said in a 2004 interview. “Or an assassin. Or a Republican.”

The CIA’s war against President Bush was motivated by ass covering, or by political partisanship. But with President Obama, it’s personal.

Jonah Goldberg reminds readers that the voters threw out the GOP majority in Congress in 2006 because of corruption scandals. But replacing them with democrats has not proven to be a very effective cure, has it?

Democrats took back Congress in 2006 and the presidency in 2008 in no small part because of their ability to bang their spoons on their high chairs about what they called the Republican “culture of corruption.” Their choreographed outrage was coordinated with the precision of a North Korean missile launch pageant. And, to be fair, they had a point. The GOP did have its legitimate embarrassments. California Rep. Randy “Duke” Cunningham and lobbyist Jack Abramoff were fair game, and so was Rep. Mark Foley, the twisted Florida congressman who allegedly wanted male congressional pages cleaned and perfumed and brought to his tent, as it were.

Of course, it wasn’t as if Democrats were without sin. Louisiana Rep. William Jefferson was indicted on fraud, bribery and corruption charges in 2007, after an investigation unearthed, among other things, $90,000 in his freezer. Then-New York Gov. Eliot Spitzer was busted in a prostitution scandal.

But that’s all yesterday’s news. Let’s look at the here and now.

Read the whole thing.

Byron York published a nice tribute to Ronald Reagan recently in the Washington Examiner. The GOP would be well-advised to ignore people named Bush and to return to fidelity to the legacy of Ronald Reagan.

You drive up a steep, rough and winding road to reach Ronald Reagan’s ranch in the Santa Ynez mountains. For eight years, from 1981 to 1989, this place north of Santa Barbara was the Western White House; Reagan spent nearly a year of his time in office here. Now, what he called Rancho del Cielo is pretty much deserted.

But the ranch, tended by a lone caretaker, is still much like it was when Reagan was alive. It’s not open to the public; these days, the old adobe house and 688 surrounding acres are owned and carefully maintained by the conservative Young America’s Foundation. The group doesn’t have the staff or resources to conduct public tours, but they were kind enough to take me on a visit one afternoon last week.

The first thing that strikes you as you approach the house is how modest it is. The main part of the building was constructed in 1871. Even after Reagan added a couple of rooms when he bought it in 1975, the whole house only measured about 1,500 square feet. …

The house is nestled on the edge of a mountainside meadow. It’s idyllic, but if you drive about five minutes away, you’ll find another spot on the property, at the top of a hill, where the president could have built a new home, perhaps an impressive monument to himself, with fabulous views of the Pacific to the west and the valley to the east. Instead, Reagan preferred the little house by the meadow.

Walking around the ranch, you can’t help thinking about the current Republican party and its relationship to Reagan.

As the Daily Mail reports, Matthew & Thomas Haslam, a pair of 15-year-old twin brothers from Doncaster, are pioneering a new sport: rabbit show-jumping.

Their trained lagoforms performed at a major pet show in Birmingham. Today, Birmingham; tomorrow, the Olympics.

Hat tip to Karen L. Myers and Candi Kobetz.

Pravda columnist Stanislav Mishin enjoys the last laugh as the American free enterprise system is eliminated by the Obamessiah’s commissars.

It must be said, that like the breaking of a great dam, the American decent into Marxism is happening with breath taking speed, against the back drop of a passive, hapless sheeple, excuse me dear reader, I meant people.

True, the situation has been well prepared on and off for the past century, especially the past twenty years. The initial testing grounds was conducted upon our Holy Russia and a bloody test it was. …

Those lessons were taken and used to properly prepare the American populace for the surrender of their freedoms and souls, to the whims of their elites and betters.

First, the population was dumbed down through a politicized and substandard education system based on pop culture, rather then the classics. Americans know more about their favorite TV dramas then the drama in DC that directly affects their lives. They care more for their “right” to choke down a McDonalds burger or a BurgerKing burger than for their constitutional rights. Then they turn around and lecture us about our rights and about our “democracy”. Pride blind the foolish. …

The final collapse has come with the election of Barack Obama. His speed in the past three months has been truly impressive. His spending and money printing has been a record setting, not just in America’s short history but in the world. If this keeps up for more then another year, and there is no sign that it will not, America at best will resemble the Wiemar Republic and at worst Zimbabwe.

These past two weeks have been the most breath taking of all. First came the announcement of a planned redesign of the American Byzantine tax system, by the very thieves who used it to bankroll their thefts, loses and swindles of hundreds of billions of dollars. These make our Russian oligarchs look little more then ordinary street thugs, in comparison. Yes, the Americans have beat our own thieves in the shear volumes. Should we congratulate them? …

The proud American will go down into his slavery with out a fight, beating his chest and proclaiming to the world, how free he really is. The world will only snicker.

Read the whole thing.

Jake Tapper tells us the White House is denying using threats and intimidation against businesses opposing its plans.

A leading bankruptcy attorney representing hedge funds and money managers told ABC News Saturday that Steve Rattner, the leader of the Obama administration’s Auto Industry Task Force, threatened one of the firms, an investment bank, that if it continued to oppose the administration’s Chrysler bankruptcy plan, the White House would use the White House press corps to destroy its reputation.

The White House and a spokesperson for the investment bank in question challenged the accuracy of the story.

“The charge is completely untrue,” said White House deputy press secretary Bill Burton, “and there’s obviously no evidence to suggest that this happened in any way.”

How can anyone believe Barack Obama would allow his staff to do anything like that? Well, there are precedents from the campaign, like this one.