Yes We Carve
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www.tommywonk.com
Now even as we speak, there are those who are preparing to divide us -- the spin masters, the negative ad peddlers who embrace the politics of "anything goes." Well, I say to them tonight, there is not a liberal America and a conservative America -- there is the United States of America. There is not a Black America and a White America and Latino America and Asian America -- there’s the United States of America.He kept it up when he accepted the Democratic nomination in Denver:
The men and women who serve in our battlefields may be Democrats and Republicans and Independents, but they have fought together and bled together and some died together under the same proud flag. They have not served a Red America or a Blue America - they have served the United States of America.Do you remember the first debate? Critics pointed out that Obama said several times that he agrees with John McCain. Do you think that was by accident? I don't. I think Obama was showing himself to be a safe choice for president. If he's so radical, how can he agree with McCain on so many issues?
Offshore wind power projects in northern Europe, key to reducing carbon dioxide emissions, face delays because of a shortage of bank finance.A reader last week asked how the financial meltdown could affect the Bluewater Wind project here in Delaware:
"Things are being delayed," Maartje van den Berg, a clean-technology analyst at Rabobank International, said in an interview Oct. 22. "We are involved in several projects that were close to financial close and they've just stopped. The banks are sitting and waiting for things to improve."
But I was wondering what your thoughts are on the possibility that Blue Water might run into financing difficulties due to the global economic implosion. After all, alternative energy projects are still considered high risk, and given the tightness of the credit markets, I could easily picture a financing problem either postponing or perhaps even killing a large wind power project such as the one Blue Water has planned for Delaware.The Bluewater project is different from the European projects, which don't have the benefit of a long term power purchase agreement or PPA. Financing is much easier when investors see a secure revenue stream, as the Bluewater PPA provides. Fortunately, Bluewater won't need much of its capital right away. The Financial Times reports that parent company, Babcock & Brown, is looking for new investors:
Babcock & Brown on Thursday said it was in talks with unnamed parties, including private equity firms, about forming a “strategic relationship” amid concerns about its business model.While it appears that B&B's overall corporate structure is under pressure, the B&B wind fund, which is separately listed on the Australian stock exchange, is profitable. Also, the PPA between Bluewater and Delmarva Power, with its contractual revenue stream, is in itself an asset. Whatever happens to B&B, I expect Bluewater to find the financing to build the wind farm.
One doesn't need a Nobel prize to know what brought about the collapse of this intellectual edifice. Humorist Roy Blount summed it up in a talk before an audience in Philadelphia earlier this week: "Money got too abstract, and that's why it went away".
Although he defended the use of derivatives in general, Mr. Greenspan, who left his post in 2006, told members of the House Committee on Oversight and Government Reform that he was “partially” wrong in not having tried to regulate the market for credit-default swaps.One member of the panel offered a baseball metaphor:
The responses from the panel were met with little sympathy from Representative John A. Yarmuth, a Democrat from Kentucky, who likened the three witnesses to Bill Buckner, the former first baseman for the Red Sox whose notorious error cost his team the 1986 World Series.Congressman Yarmuth has it almost right. I would put it a bit differently. Instead, I would describe it as pulling the player from the field and letting the free market deal with the ball. Alan Greenspan's error was not missing the ball, but thinking he didn't need to pay attention to the ball in the first place.
“All of you let the ball go through your legs,” Mr. Yarmuth said, using Mr. Buckner’s mistake as a metaphor. “And you didn’t want to let the ball go through your legs, you didn’t try to let the ball go through your legs, but it got through.”
Anything can happen, but time is running short for McCain. These numbers, if they hold, are blowout numbers. They fit the 1980 model with Reagan's victory over Carter -- but they are happening 12 days before Reagan blasted ahead. If Obama wins like this we can be talking not only victory but realignment: he leads by 27 points among Independents, 27 points among those who have already voted, 16 among newly registered voters, 31 among Hispanics, 93%-2% among African Americans, 16 among women, 27 among those 18-29, 5 among 30-49 year olds, 8 among 50-64s, 4 among those over 65, 25 among Moderates, and 12 among Catholics (which is better than Bill Clinton's 10-point victory among Catholics in 1996). He leads with men by 2 points, and is down among whites byTied among NASCAR fans? This really could be big.
only 6 points, down 2 in armed forces households, 3 among investors, and is tied among NASCAR fans.
We already know that Katz wants to increase spending on virtually every government program...Do we now? When asked how, the News Journal reports that Clatworthy offered a less than compelling defense:
Clatworthy said Katz had completed a survey and indicated he wanted to increase spending in several segments of government including education.So when challenged on the truth of his campaign lit, "virtually every" became "several."
In the late 1990s, Charlie co-founded the non-profit Challenge Program to provide vocational job training to at-risk youth in New Castle County. In the 13 years since the program has been in existence, dozens of disadvantaged youth have learned tangible job skills that are benefitting [sic] them as they go through life.Copeland's Wikipedia entry, which reads rather like his campaign bio, repeats the assertion:
In 1997, 5 years before first deciding to run for public office, Charlie co-founded the Challenge Program, a Wilmington-based vocational-training program for at-risk youth in the city.The program's website tells a somewhat different story:
The Challenge Program originated by offering small craft workshops to at-risk youth in 1995. Since then over 700 students have built and learned to paddle small boats at our Wilmington boat shop. Once a part of the Kalmar Nyckel Foundation, the Challenge Program obtained a separate 501(c)3 designation and a dedicated board of directors in 1999.While it is true that he serves as the president of the board, the program had already been running for two years at the time Copeland claims to have founded it.
Again, these arguments have "worked" for a long time. The Democrats who got themselves elected President during most of my career were those most successful at playing defense: No, no, I'm not going to do any of those things! And so the first reaction of more than a few talking heads last night was that McCain had done better, maybe even won, because he had made those arguments more successfully than he had in the first two debates.It's almost refreshing to hear this old stuff after weeks of crap about William Ayres and increasingly ugly shouts from GOP crowds. But will it work? Klein doesn't think McCain will get much traction from this line of attack:
He thought that merely invoking the magic words "spread the wealth" and "class warfare" he could neutralize Obama.It's been a while since this argument has worked. Ronald Reagan was elected 28 years ago. Income tax rates were cut significantly in the 1980s and have never threatened to rise again to the levels seen in the bad old days.
But those words and phrases seem anachronistic, almost vestigial now. Indeed, they have become every bit as toxic as Democratic social activist proposals--government-regulated and subsidized health care, for example--used to be. We have had 30 years of class warfare, in which the wealthy strip-mined the middle class. The wealth has been "spread" upward.
John of the Grimaces met Barack the Unflappable in Hempstead tonight, and the guy with the arctic cool, not surprisingly, prevailed.His colleague, David Ignatius sums up why Obama is winning:
Now we know why Obama’s aides were goading McCain earlier this week to raise the Bill Ayres issue in the debate. They wanted to play McCain’s rage against Obama’s measured, judicious, statesmanlike, even a bit boring presidentiality. And McCain obliged them big time.
What these debates have shown America is that Barack Obama, the skinny guy with the funny name, is a calm and coherent voice in a frightening time. He has been leaderly, reassuring, respectful of his opponent but tough in making his case. Let’s just say it: In the three debates, he has sounded presidential.Barack Obama is winning the campaign for president because he again showed himself to be the stronger candidate.
Copeland is off mark with Bluewater claim
Former Senate Minority Leader Charles Copeland has been running a radio ad for his candidacy for the office of lieutenant governor. It says, "Charlie Copeland passed a law that's fair for taxpayers and brings wind power to Delaware to reduce energy costs." The ad implies Copeland led the charge for the Bluewater Wind (BWW) offshore project. The facts say otherwise.
In April 2006, Copeland voted against a law mandating a new energy resource in Delaware (H.B. 6). A year later, he told me Bluewater's project should not be financed by Delmarva Power customers.
In December Controller General Russ Larson was ready to vote on a Bluewater/Delmarva Power contract on behalf of the Delaware General Assembly. According to The News Journal, Copeland told Larson he had doubts about the contract. Copeland wanted to spread the charges to everyone in Delaware. By then, the municipal utilities had a contract to buy offshore wind. Between Delmarva Power customers and municipal utility customers, 90 percent of Delaware households were already slated to buy Bluewater's power. The remaining 10 percent of Delaware households were customers of Delaware Electric Cooperative (DEC). But the cooperative had long-term contracts for power through its parent, Old Dominion Electric Cooperative; they were not willing to contract with Bluewater. If adopted, Copeland's idea to force DEC to share cost for the Bluewater contract could have doomed the wind farm. Supporters of the project called Copeland's idea "a poison pill."
On April 23, Copeland cast the deciding third vote approving an anti-Bluewater report supported by Senate Energy and Transit Committee Chairman Harris McDowell. Two weeks earlier, The News Journal quoted Senate President pro tempore Thurman Adams as saying, "Probably the [Committee's] report will determine what will be done" in the Senate regarding the wind contract. Because Copeland voted "yes," the anti-wind report was titled "Majority Report," and was sent to the Senate.
On Aug. 8, The News Journal reported that Copeland defended his vote by saying he had to vote for the report so that it could be released publicly. This makes no sense. A draft of the McDowell report was leaked to The News Journal two weeks before the vote. The newspaper published key findings, including recommendations to reject the contract and terminate the bid process. Most of the report was unchanged in the final version.
Instead of voting for the McDowell report, Copeland could have supported a rebuttal report submitted by Senators Karen Peterson and Catherine Cloutier. Their analysis corrected mistakes and misleading calculations in the McDowell report. Their report was supported by filed comments from experts on offshore wind development and project financing.
Fortunately, Delmarva Power and Bluewater successfully negotiated a contract in June. Delmarva Power will buy one-half of the power that would have been provided by the original contract. Had the original, bigger wind contract been approved last December, ratepayers (not taxpayers) would have saved more money. Sharply escalating coal, oil and natural gas prices in 2008 proves the point. Also, unless the Public Service Commission says "no," Delmarva Power ratepayers will be billed for hundreds of thousands of dollars in negative ads run against Bluewater Wind from December 2007 to June 2008. Ratepayers will pay for the company's legal fees during the same period. Did Charlie Copeland save money for ratepayers? Not in my opinion.
Copeland's ad says he passed the law approving the wind contract. He had plenty of company. The bill passed unanimously in both chambers. The governor signed it into law the same day.
Charles Copeland voted against H.B. 6 in April 2006. A year later, he opposed the Bluewater Wind proposal. In December, he opposed the first wind contract. Six months later, Copeland voted for the second wind contract, but only after Delmarva Power approved it, 93 percent of Delawareans approved it, and Copeland had announced his candidacy for lieutenant governor. Charlie Copeland was no cheerleader for offshore wind. That is obvious from the record.
Patricia Gearity is one of many Delawareans who supported the offshore wind project. A retired lawyer, she volunteers her time advocating for clean, renewable energy.
"I was in favor of the Bluewater Wind vote on the floor of the Senate, so I wish he would start from ground zero and get things right."Unfortunately for Copeland, the fight had been underway for nearly two years and the public was paying close attention. How do I know Copeland opposed offshore wind in Delaware? He said so, repeatedly and in public. Charlie Copeland opposed the Bluewater Wind project every step of the way until the compromise agreement was brought to a vote in June. For example, there is the letter that Copeland signed last year warning Controller General Russ Larson not to sign off on a wind power deal.
"We ought to let private investors compete against one another to get us the best price point and price stability. I think the marketplace would do that better than some regulatory regime," Copeland said.There is the matter of Copeland's complicity in the hiring of D.C. litigator Randall Speck to cross examine PSC chair Arnetta McRae. Copeland admitted on the air that he knew of Speck's hiring a week before the Senate hearing at which McRae was blindsided.
(1) The Senate vote to instruct the Controller General to disapprove all of the long-term contracts proposed under the RFP Hearing...You can't say it any plainer than that. The report included two other conclusions that, if adopted, would have killed the Bluewater deal and relegated Delaware to the back of the pack when it comes to approving offshore wind power:
(3) The General Assembly should consider adopting a fixed incentive similar to the approach implemented in New Jersey to stimulate competitive development of offshore wind generation resources.
(4) The General Assembly should consider forming by joint resolution, a task force to investigate the feasibility of a demonstration project for an offshore wind facility financially supported by the federal government and the states of Delaware, Maryland, New Jersey, and Virginia.
The state should not blindly rely upon the company that is the chief opponent of the Bluewater Wind project to calculate that project’s cost.If you want more, kavips has a typically thorough recitation of Copeland’s opposition, including a reference to a lengthy and well researched piece last month in the New York Times Magazine. Charlie Copeland is hoping that voters will somehow forget his prolonged opposition to the Bluewater Wind project, despite the record to the contrary.
Ironically, Tommywonk covers a lot of the same ground, but does it in his usual calm, intellectually honest fashion. Maybe that's why he doesn't get a lot of comments. These days, you've apparently got to fling shit far and wide in the DE blogosphere to get a conversation going.There is little that compares to praise from those who hold different views. I don't measure the success of this little blog by the number of comments generated, but by whether my postings stand up a day, or a week, or a month, or a year later.
You'll hear the booing behind me. In recent days, when Barack Obama's name has been mentioned, it has gone from boos and hissing to actual chants and calls of traitor, criminal, and even terrorist.Nate Silver of FiveThirtyEight calls it "a sad denouement for what was to be a high-minded campaign focused around themes of honor and reform."
The McCain campaign says they don't condone it, they don't want to see it happen, but it's happening more and more every day.
The irony here is that, for so many months, the campaign being waged by Schmidt & Co. was viewed by the press as devious, sure, but deviously brilliant, delivering to McCain innumerable victories in the battle for the daily—and even hourly—news cycle.What will it profit a candidate if he gains the news cycle and loses the election? It's hard to change voters' views when changing tactics so frequently. But the problem for the McCain campaign is even more fundamental.
McCain may have won some news cycles, but he is losing the contest of the meta-narrative—and with it, perhaps, the election."
It may be quite difficult for McCain to attack Obama in this fashion without significantly damaging his own brand.Brian Schaffner of Pollster.com offers a methodical analysis of the difficult task facing McCain:
This is an obvious point, but If McCain is going to get back in this race, he can do so in one of two ways: (1) he can win over undecideds or (2) he can change the minds of those who are currently planning on voting for Obama.He points out that the number of undecided voters dropped sharply in September to about five percent. Turning that around for McCain will be tough, given that his favorables have been dropped so sharply in the last month:
Despite the fact that McCain is only down by 5-7% nationally, time is running out and a comeback seems like a tall order. In the new era of partisan polarization, major October shifts in the presidential polls are unlikely. There are few undecided voters left to persuade at this point and in recent elections we've seen that few voters change their minds once they have settled on a candidate.McCain’s standing in the polls has declined even more in the last week, and the major national polls now show him behind by 6 to 12 points.
You can't blame McCain. In an election in which all the fundamentals are working for the opposition, he feels he has to keep throwing long in order to keep hope alive. Nonetheless, his frenetic improvisation has perversely (for him) framed the rookie challenger favorably as calm, steady and cool.Obama has focused on getting people comfortable with him since the beginning of his improbable campaign. There have been times in the campaign when anxious supporters have reached for the panic button, but Obama has charted a steady course:
When after the Republican convention Obama's poll numbers momentarily slipped behind McCain's, panicked Democrats urged him to get mad. He did precisely the opposite. He got calm.While critics derided his reserved demeanor, Obama knew all along what he needed to do:
His one goal: Pass the Reagan '80 threshold. Be acceptable, be cool, be reassuring.Barack Obama has broken the 50 percent barrier in recent polls by doing just that. The McCain campaign hopes to break into that cool by going all negative, all the time:
Sen. John McCain and his Republican allies are readying a newly aggressive assault on Sen. Barack Obama's character, believing that to win in November they must shift the conversation back to questions about the Democrat's judgment, honesty and personal associations, several top Republicans said.Can a relentlessly negative campaign work? First McCain has to divert people's attention away from the economic news as problems in the financial system have spread to automakers, students seeking college loans, issuers of municipal bonds, and now the State of California.
With just a month to go until Election Day, McCain's team has decided that its emphasis on the senator's biography as a war hero, experienced lawmaker and straight-talking maverick is insufficient to close a growing gap with Obama. The Arizonan's campaign is also eager to move the conversation away from the economy, an issue that strongly favors Obama and has helped him to a lead in many recent polls.
Music intro (R. Stanley Tune)
Ralph Stanley: Howdy, friends. This is Ralph Stanley, and I think I know a little something about the families around here... ...and after the last eight years - I know we all need a change.
Nobody's looking for a handout, but I think we could use a leader that’s on our side, and that leader is Barack Obama.
Barack'll cut taxes for everyday folks - not big business -- so you’ll have a little more money in your pocket at the end of the year.
He understands that our kids shouldn't have to leave our communities to find work...that's why Barack will make it easier to send your children to college and help create 5 million new jobs by investing right here at home.
I also know Barack is a good man. A father and devoted husband, he values personal responsibility and family first.
So, please join me, Ralph Stanley, in supporting a true friend of the people who live right here in Southwest Virginia. Barack Obama is the change we need.
BO: I'm Barack Obama, candidate for President, and I approve this message.
Narrator: Paid for by Obama for America.
When it comes to issues like crime, Afghanistan and the right to privacy, he is more than happy to show you that he knows his stuff. But I also think he may talk a bit about the Biden family values, as he did in his speech at the Democratic National Convention: "You know, my mom taught her children - all the children who flocked to our house - that you're defined by your sense of honour and you're redeemed by your loyalty." I certainly expect him to find a way to mention his son, Beau Biden, Delaware's attorney general, who is shipping out for Iraq as a captain in the Judge Advocate General Corps. He might do it by offering kind words for Track Palin, who is also being deployed to Iraq.Yes, Biden can expound at length on policy. But he has been known to lay it on pretty thick when it comes to the Biden clan, and show that Democrats have family values too.
“I think she has pretty thoroughly — and probably irretrievably — proven that she is not up to the job of being president of the United States,” David Frum, a former speechwriter for President Bush who is now a conservative columnist, said in an interview.Pundits are asking whether she gets by if she simply manages to stay upright and speak in complete sentences. One might think, given her abysmal performance with the fearsome Couric, that much of the free advice would be offered to Palin: Take a deep breath; just try to make one point at a time... But remarkably, most of the advice seems to be focused on telling Biden not to be too mean to her. (I do like the advice to shut up and give her as much time as possible.)