Rajendra Pachauri

Andrew Bolt compares what Rajendra Pachauri, Chief, UN Intergovernmental Panel on Climate Change (whose organization shared the Noble Prize with Albert Gore!) tells the rest of us we have to do to save the earth with what the great man does himself.

(Pay attention, peons. From now on, you have to make sacrifices.)

Hotel guests should have their electricity monitored; hefty aviation taxes should be introduced to deter people from flying; and iced water in restaurants should be curtailed, the world’s leading climate scientist has told the Observer.

Rajendra Pachauri? Hey, if you’re manning the VIP lounge at Heathrow, that name may ring a bell:

Dr Rajendra Pachauri flew at least 443,243 miles on IPCC business in this 19 month period. This business included honorary degree ceremonies, a book launch and a Brookings Institute dinner, the latter involving a flight of 3500 miles.

Remember the news reports (1, 2, 3) about Al Gore’s personal Carbon footprint?

The Nobel Peace Prize really ought to be retitled the Nobel Hypocrisy Prize.

In evaluating the absurdity of the Nobel Committee’s Peace Prize Award to Barack Obama, as Bruce Walker suggests, it really puts the whole thing into perspective when you look at who didn’t win.

Few spectacles so clearly show the politicization of life than the surreally silly award of the Nobel Peace Prize to Obama. The Nobel Prize has long been a reflection of the whims of those who run political correctness. …

(For proof, consider) all the people who did not receive the Nobel Peace Prize. Ronald Reagan won the Cold War without firing a shot, the greatest triumph for peace in world history. Pope John Paul II boldly reached out to end the historic distrust between the Catholic Church and Jews; he also showed how passive resistance could work in Poland; he also went around the world preaching peace and love; he also forgave the Moslem who tried to assassinate him. Alexander Solzhenitsyn won the Nobel Prize for Literature, but not for Peace, even though he proved, perhaps more courageously than any man in modern history, that the pen could be mightier than the sword. Konrad Adenauer worked hard for a peaceful Germany at the end of the First World War; he opposed the Nazis and spent time in a concentration camp for that; after the Second World War ended, Adenauer reunited the three western sectors of Germany and reached out to Israel and offered, without being asked, for the Federal Republic of Germany to pay reparations to Israel. None of these magnificent champions of peace won the Nobel Peace Prize.

The Nobel Peace Prize, like the support of Code Pink is based upon ideology and nothing else. So Obama, Gore, Carter, and Wilson have won the Peace Prize, but Reagan, who dedicated his last term in office to ridding the world of nuclear weapons and who actually won a world war without violence, does not. Willy Brandt, a thoroughly unlikable socialist West German chancellor, who left office in scandal, wins the award, while a magnificently noble conservative West German chancellor does not. So two Soviets who buy the rhetoric of the chic left – Gorbachev and Sakharov – win the award, while a much braver and clear voice for peace, Solzhenitsyn, does not?

We should know by now, if we ever needed to know, that the awards, compliments, and honors which the establishment of the world offers is offered only to those who have first paid homage to the ideology of the left. Awards given to communist terrorists, like Le Duc Tho, or anti-Semitic ogres like Jimmy Carter, are no badges of achievement: such awards are evidence of moral surrender.

Michael Barone admires the liberal establishment’s recent efforts to marginalize dissent.

I would submit that the president’s call for an end to “bickering” and the charges of racism by some of his supporters are the natural reflex of people who are not used to hearing people disagree with them and who are determined to shut them up.

This comes naturally to liberals educated in our great colleges and universities, so many of which have speech codes whose primary aim is to prevent the expression of certain conservative ideas and which are commonly deployed for that purpose. (For examples, see the Website of the Foundation for Individual Rights in Education, which defends students of all political stripes.) Once the haven of free inquiry and expression, academia has become a swamp of stifling political correctness.

Similarly, the “mainstream media” — the old-line broadcast networks, The New York Times, etc. — present a politically correct picture of the world. The result is that liberals can live in a cocoon, an America in which seldom is heard a discouraging word. Conservatives, in contrast, find themselves constantly pummeled with liberal criticism, on campus, in news media, and in Hollywood TV and movies. They don’t like it, but they’ve gotten used to it. Liberals aren’t used to it and increasingly try to stamp it out.

Read the whole thing.

If we study the vocabulary of the American elite, we find that strange things have happened to the English language. Slavish conformity of thought, readiness to bow to conventional opinion, credulous acceptance of popular alarms, willingness to embrace crude simplifications, and firm refusal to question supposed authority and pretended expertise are continually cited as evidencing sound judgment and good education. Skepticism and questioning the authority of media culture is, on the other hand, extremist, polarizing, and ignorant. Our contemporary political culture basically turns language inside out. The most craven conformist mouthing empty platitudes (Albert Gore) is praised for wisdom and bravery, and anyone attempting to subject a received prescription to scrutiny or analysis (Sarah Palin, Rush Limbaugh) is intrinsically unintelligent.

AARP representatives try to conduct a “listening session” in Dallas, but those darned geezers won’t just shut up and listen to the nice people who know better tell them why socialist Health Care Reform is good for them.

Frustrated by questions and interruptions, and at a listening session, too! the AARP representatives naturally take their microphone and bail. That wasn’t supposed to happen.

And before you know it, those blasted geezers are holding a meeting of their own, and quoting Madison no less. Disgraceful. They’re obviously each and every one of them paid pharmaceutical company neo-Nazis hirelings sent by Rush Limbaugh to prevent Americans from having a successful dialogue on health care.

Hat tip to Moe Lane.

Warren Buffett’s share of the federal bailout

Rolfe Winkler so admired Warren Buffett’s old-fashioned market fundamentalism that, when he was a lad of fourteen, he wrote his idol a fan letter.

Winkler is not so admiring of the whited sepulchre of Omaha today.

Were it not for government bailouts, for which Buffett lobbied hard, many of his company’s stock holdings would have been wiped out.

Berkshire Hathaway, in which Buffett owns 27 percent, according to a recent proxy filing, has more than $26 billion invested in eight financial companies that have received bailout money. The TARP at one point had nearly $100 billion invested in these companies and, according to new data released by Thomson Reuters, FDIC backs more than $130 billion of their debt.

To put that in perspective, 75 percent of the debt these companies have issued since late November has come with a federal guarantee. …

With $7 billion at stake, Buffett is one of the biggest of these shareholders.

He even traded the bailout, seeking morally hazardous profits in preferred stock and warrants of Goldman and GE because he had “confidence in Congress to do the right thing” — to rescue shareholders in too-big-to-fail financials from the losses that were rightfully theirs to absorb.

Keeping this in mind, I was struck by Buffett’s letter to Berkshire shareholders this year:

“Funders that have access to any sort of government guarantee — banks with FDIC-insured deposits, large entities with commercial paper now backed by the Federal Reserve, and others who are using imaginative methods (or lobbying skills) to come under the government’s umbrella — have money costs that are minimal,” he wrote.

“Conversely, highly-rated companies, such as Berkshire, are experiencing borrowing costs that … are at record levels. Moreover, funds are abundant for the government-guaranteed borrower but often scarce for others, no matter how creditworthy they may be.”

It takes remarkable chutzpah to lobby for bailouts, make trades seeking to profit from them, and then complain that those doing so put you at a disadvantage.

Elsewhere in his letter he laments “atrocious sales practices” in the financial industry, holding up Berkshire subsidiary Clayton Homes as a model of lending rectitude.

Conveniently, he neglects to mention Wells Fargo’s toxic book of home equity loans, American Express’ exploding charge-offs, GE Capital’s awful balance sheet, Bank of America’s disastrous acquisitions of Countrywide and Merrill Lynch, and Goldman Sachs’ reckless trading practices.

And what of Moody’s, the credit-rating agency that enabled lending excesses Buffett criticizes, and in which he’s held a major stake for years? Recently Berkshire cut its stake to 16 percent from 20 percent. Publicly, however, the Oracle of Omaha has been silent.

This is remarkably incongruous for the world’s most famous financial straight-shooter. Few have called him on it, though one notable exception was a good article by Charles Piller in the Sacramento Bee earlier this year.

Buffett didn’t respond to my email seeking a comment.

What saddens me is that Buffett is uniquely positioned to lobby for better public policy, but he’s chosen to spend his considerable political capital protecting his own holdings. …

To me this feels like a betrayal. There’s a reason he’s Warren Buffett and not, say, Carl Icahn.

As Roger Lowenstein wrote in his 1995 biography of Buffett, “Wall Street’s modern financiers got rich by exploiting their control of the public’s money … Buffett shunned this game … In effect, he rediscovered the art of pure capitalism — a cold-blooded sport, but a fair one.”

But there’s nothing fair about Buffett getting a bailout, about exploiting the taxpaying public for his own gain. The naïve 14-year-olds among us thought he was better than this.

What would Ben Graham say?

Thomas L. Friedman knows whats good for you

Kate, at Small Dead Animals, merely posts a quotation from New York Times editorialist Thomas L. Friedman‘s June 30th “Just Do It” column demanding that Americans support the democrats’ Cap-and-Trade Bill.

(T)his bill’s goal of reducing U.S. carbon emissions to 17 percent below 2005 levels by 2020 is nowhere near what science tells us we need to mitigate climate change. But it also contains significant provisions to prevent new buildings from becoming energy hogs, to make our appliances the most energy efficient in the world and to help preserve forests in places like the Amazon.”

and links a photo of Mr. Friedman’s house.

Hat tips to Greg Pollowitz and Mark Steyn, who remarks:

(O)bviously, being a renowned expert, Thomas Friedman, like Al Gore and the Prince of Wales, needs a supersized carbon footprint. But you don’t — you can get by beating your laundry on the rocks down by the river with the native women all day long.

“Environmentalism” is a government restraint on economic advance and, therefore, social mobility. In other words, it’s a way to ensure you’ll never live like Tom Friedman.

Zachary Roth apparently thinks so.

But I don’t know that we need to take his opinion into serious account. He’s just another of those exiled British journalists, so orthodox left that he posts in Talking Points Memo, and the sensitive sort who cries on the job.

I seem to remember the left’s commentariat having no similar problem with satirical stereotypes applied in editorial cartoons to people like Condeleeza Rice and Clarence Thomas.

Yesterday’s New York Times reported that Sonia Sotomayor defends her membership in a females-only influence-sharing club as non-violative of Canon 2 of the Code of Conduct for US Judges, which reads:

A judge should not hold membership in any organization that practices invidious discrimination on the basis of race, sex, religion, or national origin.

I am a member of the Belizean Grove, a private organization of female professionals from the profit, nonprofit and social sectors,” Judge Sotomayor wrote. “The organization does not invidiously discriminate on the basis of sex. Men are involved in its activities — they participate in trips, host events and speak at functions — but to the best of my knowledge, a man has never asked to be considered for membership.”

She added: “It is also my understanding that all interested individuals are duly considered by the membership committee. For these reasons, I do not believe that my membership in the Belizean Grove violates the Code of Judicial Conduct.

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Personally, I disagree with Canon 2, and think judges and everyone else should enjoy freedom of voluntary association, but Judge Sotomayor I expect would be one of the first to insist on strict enforcement of that politically correct standard on everyone but herself.

Is she right in maintaining that the Belizean Grove, a club with 115 female members, is non-discriminatory on the basis of sex?

Here is the club’s own description, you decide.

The Belizean Grove is a constellation of influential women who are key decision makers in the profit, non-profit and social sectors; who build long term mutually beneficial relationships in order to both take charge of their own destinies and help others to do the same.”

Having observed the power of the Bohemian Grove, a 130-year-old, elite old boys’ network of former Presidents, businessmen, military, musicians, academics, and non-profit leaders, and realizing that women didn’t have a similar organization, Susan Stautberg and 26 other founding members created the Belizean Grove, a constellation of influential women who are key decision makers in the profit, non-profit and social sectors; who build long term mutually beneficial relationships in order to both take charge of their own destinies and help others to do the same.

Members are highly accomplished leaders in a wide venue of fields, are dedicated to giving back to their communities, have a sense of humor and excitement about life and are willing to mentor and share connections. With this vision in mind, members are invited not only for their professional accomplishments but also for their generosity and compatibility.

The Grove is an international nurturing network that helps women pursue more significant dreams, ambitions, purposes, transcendence, and spiritual fulfillment, while also opening up more leadership opportunities to these women of diverse backgrounds, talents, ages, and skills. The Grovers are leaders from 5 continents, from profit, non-profit and social sectors. They are heads of major government agencies, businesswomen, military officers, academics, non-profit leaders, musicians, authors, diplomats, design gurus.

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UPDATE 6/20:

Sotomayor resigned from the Belizean Grove yesterday, stating that she did not want her membership in the exclusuve female-only club to “distract anyone from my qualifications and record.”

Some news agency story.

Barack Obama recently told the press that he thought about it for some time before deciding to go ahead and unleash attacks on AIG employees receiving contractually-specified compensation for job performance or as retention incentives. Doubtless, the president talked over whether it would be a good idea to use the White House as a platform to whip up public emotion into outraged anger directed at ordinary private citizens with his Chief of Staff Rahm Emanuel.

Rahm Emanuel, as the Chicago Tribune reports, had at the time already long since collected his own bonus for passive collaboration on the board of the Federal Home Loan Mortgage Corporation “Freddie Mac” in the policies directly responsible for the mortgage default crisis, unlike Jake DeSantis, for example, who would soon be nationally targeted despite having no actual real connection.

Before its portfolio of bad loans helped trigger the current housing crisis, mortgage giant Freddie Mac was the focus of a major accounting scandal that led to a management shake-up, huge fines and scalding condemnation of passive directors by a top federal regulator.

One of those allegedly asleep-at-the-switch board members was Chicago’s Rahm Emanuel—now chief of staff to President Barack Obama—who made at least $320,000 for a 14-month stint at Freddie Mac that required little effort. …

The Freddie Mac money was a small piece of the $16 million he made in a three-year interlude as an investment banker…

He was named to the Freddie Mac board in February 2000 by Clinton, whom Emanuel had served as White House political director…

The board met no more than six times a year. Unlike most fellow directors, Emanuel was not assigned to any of the board’s working committees, according to company proxy statements. Immediately upon joining the board, Emanuel and other new directors qualified for $380,000 in stock and options plus a $20,000 annual fee, records indicate.

ACORN probably won’t be busing any demonstrators over to Representative Rosa DeLauro’s house (where Emanual lives in the basement) to threaten him though, will they?

Charles Krauthammer puts into perspective the scale of the AIG bonuses which have occasioned such histrionics in Washington. Targeting executives as overpaid is a handy way of diverting the public’s attention from the really significant looting going on at the hands of Congress itself.

A $14 trillion economy hangs by a thread composed of a comically cynical, pitchfork-wielding Congress, a hopelessly understaffed, stumbling Obama administration, and $165 million.

That’s $165 million in bonus money handed out to AIG debt manipulators who may be the only ones who know how to defuse the bomb they themselves built. Now, in the scheme of things, $165 million is a rounding error. It amounts to less than 1/18,500 of the $3.1 trillion federal budget. It’s less than one-tenth of 1 percent of the bailout money given to AIG alone. …

[A] contract is a contract. The AIG bonuses were agreed to before the government takeover and are perfectly legal. Is the rule now that when public anger is kindled, Congress summarily cancels contracts?

Even worse are the clever schemes now being cooked up in Congress to retrieve the money by means of some retroactive confiscatory tax. The common law is pretty clear about the impermissibility of ex post facto legislation and bills of attainder. They also happen to be specifically prohibited by the Constitution. We’re going to overturn that for $165 million?

Nor has the president behaved much better. He too has been out there trying to lead the mob. …

It is time for the president to state the obvious: This recession is not caused by excessive executive compensation in government-controlled companies. The economy has been sinking because of a lack of credit, stemming from a general lack of confidence, stemming from the lack of a plan to detoxify the major lending institutions, mainly the banks, which, to paraphrase Willie Sutton, is where the money used to be.

President Obama comes down hard on people who purchased large houses they couldn’t really afford.

It’s a plan that won’t help speculators or that neighbor down the street who bought a house he could never hope to afford but it will help millions of Americans who are struggling with declining home values.”

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