Econ4 on housing

Via Yves Smith at Naked Capitalism.

Econ4 economists put out a statement on housing accompanying this video. It includes this passage, which I think is spot-on:

We oppose treating the nation’s housing as a bundle of assets to be sliced, diced, flipped, and bailed out in pursuit of inflated profits and bonuses.

We call for reality-based, ethically grounded housing policies that restore stability to families and sanity to markets.

We call for mandatory partial reductions of mortgage principal whenever this can keep a family in its home. We call for America’s best run housing non-profits to be paid to provide the counsel required to determine when such modifications will work. We call for civil and, when necessary, criminal sanctions on banks and loan-servicing companies whose employees intentionally obstruct implementation of mandated loan modifications.

We call for amending bankruptcy laws to restore pre-2005 rules that protected families and communities from bank depredations.

We call for immediate return to the rule of law by requiring those who seek to foreclose to demonstrate they have the proper title and rights to do so – with stiff legal penalties if they ignore the law.

In response to recent moves by the top 1% to buy distressed housing and convert it to rental stock as absentee landlords, we call for local, state and national standards to protect families from predatory rental practices.

We extend our support to all who are working in the private, non-profit, and public sectors to promote access to affordable and stable housing as a human right of families and an asset for communities.

Neil Barofsky for SEC Chair

Matt Stoller interviews Neil Barofsky, who says he’d be happy to serve as chairman of the SEC, if the President nominates him. He and Stoller talk about what he would do as SEC Chair and the important role the SEC has to play to regulate the banking system and make sure we don’t ever go through another collapse like 2008.

Barofsky would make a stellar pick for the SEC. Not that my opinion goes far, but still, he’d be a great choice.


Alex Pareene offers up some great strategic advise for Democrats in DC:

If Democrats want to get the big pundits on their side, they should pull a Boehner and just name whatever it is they’re trying to pass “The Simpson Plan.” That should be the name they use when they reintroduce card-check. And cap-and-trade. Planned Parenthood should rename itself “The Simpson-Bowles Planned Parenthood” and then no one will ever again try to defund it, I promise.

The funniest part of this is that Pareene thinks Democrats would introduce legislation to provide any sort of increase in power for America’s workers.

On self-immolation

Yesterday the 92nd Tibetan self-immolated in Tibet while calling for freedom since 2009, most in the last year. Think about that for a minute – 92 Tibetans have set themselves on fire while calling for an end to China’s occupation of Tibet.

In Foreign Policy, Michael Biggs has a piece on the differences between suicide bombers and self-immolators. The Chinese government has tried to depict Tibetan self-immolators as terrorists. But Biggs points out that self-immolators aren’t trying to scare people, but send a message about how deeply they hold their beliefs:

Suicide protest does not achieve these ends; its logic is communicative rather than sanguinary. To quote Oxford sociologist Diego Gambetta, “Martyrdom is as strong a signal of the strength of a belief as one can get: only those who hold their beliefs very dear can contemplate making the ultimate sacrifice of dying for a cause.” Choosing a painful means of death — burning, most obviously — amplifies that signal still more. The communication, moreover, can be directed toward various audiences. Sometimes it is a disinterested and faraway public, and the self-immolator hopes to attract the public’s attention and win its sympathy. At other times the self-immolator addresses his or her own group, hoping to enhance the group’s commitment to the cause.

Biggs sees this as a phenomenon which will continue, even in the face of more repression in Tibet:

So far, the recent wave of Tibetan immolations has not yielded any tangible political success. Repression has only increased in the Tibetan areas of China, and expressions of sympathy from the majority Han population within China are rare. Western public opinion, which already favored the Tibetan cause, has no means of exercising leverage over China. But it is too soon to assess the consequences of these immolations. Gauging their effect on Tibetans within China is effectively impossible given the degree of repression.

What we can predict is that suicide protest will continue. Its communicative logic is no less potent than the suicide attack’s sanguinary logic — and it is more readily carried out. A suicide bombing requires organization, coordination, and technical skills to prepare explosives. In conflict zones like Afghanistan, the attacker also needs assistance to reach what are often fortified targets. Suicide protest does not require organization. There is no defense against the practice, short of the total suppression of information. Where information about suicide protest can be suppressed completely, there is hardly any reason to perform it. In today’s world, the totalitarian control formerly exercised by the Soviet Union or Maoist China is no longer feasible, at least for a country participating in the global economy. For evidence, look no further than China’s inability to prevent us from reading about — and in some cases even watching — the immolations in Tibet.

Biggs is likely correct, though it’s hard to imagine this tragic epidemic is continued to be met by functional silence by the world’s governments. As long as China’s continued response is one of repression, Tibetans will continue to struggle to throw of the yolk of their occupation. More Tibetans will likely see self-immolation as their only option for impactful political organizing. It’s hard to comprehend the depths of despair felt by Tibetans inside of Tibet, but at the same time, these actions tell you how deep it must be, even if it is a depth beyond comprehension.

Organizing & Occupy Sandy

Yotam Maron has a good piece on Occupy Sandy and turning community organizing in response to a crisis into organizing to produce proactive policy solutions that we need. It’s definitely worth reading.

Community-based organizing around mutual aid creates a tremendous opportunity to move people affected by crises to a new political viewpoint that is informed both by what happened to them and by who and how they were aided in response. That’s why organizing victims of bank greed in the foreclosure crisis and fossil fuel company greed in the climate crisis makes so much sense. Finance capital and the fossil fuel industry are two of the most powerful sectors in our country and the world. We will only be able to shift power from these few massive corporations to people in a democratic way when opportunities to organize and provide aid are seized in moments of crisis. Think of it like a reverse shock doctrine.