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Category: Policy (Page 25 of 28)

Bans on gay marriage counter Obama’s message

It’s tempting for some of us to look at the election of the country’s first African-American president and conclude that our days of bigotry and inequality are behind us. Come January, a black man who anchored his campaign to the uplifting themes of unity and change will take office, a watershed moment in not only our country’s history, but the history of all humankind. Without question, this election stands as a promising sign for anyone who strives for equality and harmony, and believes that what unites us truly is greater than what divides us. But while it’s clear that the racial and gender divides (thanks to Hillary Clinton and, yes, even Sarah Palin) have narrowed as we head into 2009, the passing of gay marriage bans in California, Florida and Arizona shows that we still have a long way to go on the road to true equality in this country.

In the months leading up to election day, I posed the following question several times but never received a legitimate answer: How is banning gay marriage anything but discrimination? Why is it acceptable in the 21st century for someone to have their right to marry taken away because of their sexual orientation? For that matter, why is it acceptable for anyone to have any right taken away from them for any reason? Opponents of gay marriage claim they want to protect American families, but I’ve never understood what exactly that means. If the gay couple down the street was allowed to place a ring on each other’s finger and be recognized by the state as a married couple, would they then creep down to your house in the middle of the night and eat your children? Would they crash your weekly Family Game Night? Superimpose themselves into your family photos? Slash the tires of your minivan? Opponents also talk about protecting the sanctity of marriage and only allowing couples who can procreate to get married. If that’s the case, shouldn’t straight couples who cheat on one another or elect to not have children have their marriage licenses revoked?

The bottom line is that these bans on gay marriage are just another form of intolerance. Telling two gay people that they can’t get married is no different than telling an interracial couple that they can’t get married. Perhaps even more discouraging is the ballot measure that was passed in Arkansas prohibiting “unmarried sexual partners” from adopting children or serving as foster parents. The initiative applied to both opposite-sex and same-sex couples, but the intent here is crystal clear. Apparently it’s not enough to tell gay couples that they can’t get married; we also need to make it clear that they can never have a family, even when there are so many children in desperate need of a loving home.

I’m extremely hopeful that the election of Barack Obama will bring about a more open-minded approach to how we as a nation view the world and choose to legislate. After all, I’m not talking about “gay rights” here; these are human rights. Because Obama speaks so passionately about overcoming the bitter divisiveness that has fractured this country – black vs. white, men vs. women, democrats vs. republicans and, yes, gay vs. straight – many of us were hoping his message would help defeat the bigotry behind the initiatives in California, Florida, Arizona and Arkansas. Perhaps we got a little ahead of ourselves. Instead, it seems apparent that Obama won the White House on the strength of his economic message more than his social views. At the same time, the fact that so many young and first-time voters were so engaged in the election suggests that this more open-minded shift could be on the way.

Electing a transformational figure like Barack Obama looks like an encouraging first step, but that transformation is obviously still a work in progress.

Shep Smith slams Joe the Plumber

It’s embarrassing that the McCain campaign is clinging to Joe the Plumber in a final act of deperation. Mr. Plumber hit a new low when he agreed with a loon at a rally that the election of Barack Obama would lead to he death of Israel.

Shep Smith, one of the few voices of reason at Fox News, interviews Joe about his statement and unmasks him as a complete fool.

Hat tip – Andrew Sullivan.

Huge opportunity in Iran

Tom Friedman writes about the huge problems facing Iran now that oil prices have collapsed.

I’ve always been dubious about Barack Obama’s offer to negotiate with Iran — not because I didn’t believe that it was the right strategy, but because I didn’t believe we had enough leverage to succeed. And negotiating in the Middle East without leverage is like playing baseball without a bat.

Well, if Obama does win the presidency, my gut tells me that he’s going to get a chance to negotiate with the Iranians — with a bat in his hand.

Have you seen the reports that Iran’s president, Mahmoud Ahmadinejad, is suffering from exhaustion? It’s probably because he is not sleeping at night. I know why. Watching oil prices fall from $147 a barrel to $57 is not like counting sheep. It’s the kind of thing that gives an Iranian autocrat bad dreams.

After all, it was the collapse of global oil prices in the early 1990s that brought down the Soviet Union. And Iran today is looking very Soviet to me.

As Vladimir Mau, president of Russia’s Academy of National Economy, pointed out to me, it was the long period of high oil prices followed by sharply lower oil prices that killed the Soviet Union. The spike in oil prices in the 1970s deluded the Kremlin into overextending subsidies at home and invading Afghanistan abroad — and then the collapse in prices in the ‘80s helped bring down that overextended empire.

This is an example of the tremendous leverage we get by destroying domestic demand for oil by switching to alternative fuels.

Ohioans are against deportation of illegals

The most recent poll in Ohio has some interesting news regarding the issue of immigration.

Let illegal immigrants stay here.

That’s what 56 percent of Ohioans said in a poll conducted this month by the University of Cincinnati Institute for Policy Research — and people polled in Southwest Ohio topped that figure.

In this corner of the state, 60 percent said they favored a government policy that allowed undocumented immigrants to stay in the country and become U.S. citizens if they met unspecified requirements in a certain timeframe.

That puts Ohioans in sync with the rest of the nation, according to a Gallup Poll last year, said Eric Rademacher, the institute’s interim co-director.

If you only listened to Fox News, Lou Dobbs and talk radio, you would assume that the entire nation is outraged by the conecpt of earned citizenship for illegals (which some call amnesty). Last year many in the media assumed that this issue would be crucial in the 2008 elections. Yet we don’t hear anything about it.

All of the Republican candidates who tried to exploit conservative anger about immigration flamed out in the primaries. Even one-time “moderates” like Rudy Giuliani flipped last year and tried to demogogue the issue in order to get the Republican nomination. He got crushed in the primaries.

America is getting serious again. We’re going through tough economic times, so it’s harder for politicians to distract the electorate with side issues like Bill Ayers, guns and illegals.

The next president will have a huge opportunity to pass a common-sense compromise on this issue that beefs up border security and provides a rational method for illegals to earn the right to stay in this country. The political rewards from such a compromise would be significant as well.

The role of credit rating agencies

We will be spending the next several years trying to understand the various causes of the financial collapse. As most agree, there’s plenty of blame to go around.

There’s no doubt that the credit rating agencies played a huge role in this crisis. I worked on bond deals in the 90’s that were very similar to the mortgage-backed securities at the root of this scandal. The role of the rating agencies was very clear. It was up to them to assess the risk tied to each security, and that process involved quite a bit of due diligence regarding the underlying income streams.

It has been clear for years that the rating agencies were not doing their jobs with respect to pooled mortgages. Now Congress is holding hearings in order to learn more about what happened. Needless to say, you can learn quite a bit by following the money.

Conflicts of interest were largely responsible for the disastrous performance of credit rating agencies in assessing the risks of mortgage-backed securities, two former high-ranking officials at Moody’s Investors Service and Standard & Poor’s said in Congressional testimony on Wednesday.

The agencies are paid to issue ratings by the securities issuers, whose interests can eclipse those of investors, Jerome S. Fons, former managing director of credit policy at Moody’s until 2007, told the House Committee on Oversight and Government Reform.

“While the methods used to rate structured securities have rightly come under fire, in my opinion the business model prevented analysts from putting investor interests first,” he said.

And Frank L. Raiter, former head of mortgage ratings at Standard & Poor’s for 10 years, characterized the failures at that company by saying simply: “Profits were running the show.”

This reminds me of the problems we had with the accounting firms in the 1990’s. It was impossible to expect accounting firms getting huge deal fees to be objective when they were auditing the same client. Efforts were made to block this conflict of interest back then, but Congress blocked the reforms. Things didn’t get fixed there until we had the Enron and Worldcom debacles.

With the rating agencies, it’s painfully clear that more regulations are needed here as well. Let’s hope that we get it right going forward.

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