Monthly Archives: May 2010

Same Sex Partnered priest will become Episcopal bishop in Long Beach Saturday

The national Episcopal Church has more than 2.2 million members in 16 countries. It is under the jurisdiction of the Anglican Communion, which has more than 70 million members worldwide. While many churches in the United States and Western Europe have accepted gay clergy, most in Asia and Africa condemn homosexuality.

The issue intensified when the first gay bishop, V. Gene Robinson, was consecrated in the Diocese of New Hampshire in 2003. As a result, many parishes broke from the church, including All Saints Episcopal Church of Long Beach.

This time around, [Canon Robert ] Williams said he hasn’t heard of any local parishes threatening to leave the dioceses. He said the church is overjoyed for today’s event and is committed to moving forward.

“The Episcopal Church continues its long tradition of members of diverse points of view yet who are united in common prayer,” Williams said. “While a small percentage have chosen to disaffiliate in recent years, there remains a strong and vibrant core membership.”

Read it all.

Posted in * Anglican - Episcopal, Episcopal Church (TEC), Same-sex blessings, Sexuality Debate (in Anglican Communion), TEC Bishops, TEC Conflicts, TEC Conflicts: Los Angeles

Day of Prayer for response to ECUSA’s action and for appointment of Bishop of Southwark

From here:

Today Bishops of the Episcopal Church of the United States of America (ECUSA) pray episcopal consecration prayers over the Revd Mary Glasspool, who lives in an openly same-sex relationship.

Today, St Lawrence Morden, in the Diocese of Southwark, together with other congregation members from the team parish, keeps a day of prayer on Leith Hill, Surrey. As well as confessing individual sin, they will mourn the passing of the Anglican Communion as it has been. They will celebrate the emergence of a renewed communion, led by the large majority of Anglicans in the Global South, and intercede over the response to ECUSA’s action, by Archbishop Rowan Williams and other Church of England Bishops. We will give thanks for the unity of our Diocese maintained by recently retired Bishop, Tom Butler. We call on Anglican churches around the world to pray with us, over the appointment of the next Bishop of Southwark.

Posted in * Anglican - Episcopal, Anglican Provinces, Church of England (CoE), CoE Bishops, Episcopal Church (TEC), TEC Bishops, TEC Conflicts, TEC Conflicts: Los Angeles

Tony Clavier on the Los Angeles Action–Later Today

All seems oddly quiet on this day when Canon Mary Glasspool will be ordained and consecrated at a Suffragan Bishop of Los Angeles. Yet the consequences may well be graver than ensued after the Bishop of New Hampshire was consecrated in 2003. Then it could be said with some plausibility that no one in TEC realized what a fuss would emerge. No one is in any doubt this time. The Archbishop of Canterbury has made it clear that there will be consequences for TEC in its relationship with the Communion and there will be consequences within the Communion.

I read this morning an interview in the Baltimore Sun with Canon Glasspool which includes a short video. http://www.baltimoresun.com/news/maryland/anne-arundel/bs-md-glasspool-bishop-consecration-20100507,0,73

A number of points were raised which invite comment….

Read it all.

Posted in * Anglican - Episcopal, Archbishop of Canterbury, Ecclesiology, Episcopal Church (TEC), Instruments of Unity, Same-sex blessings, Sexuality Debate (in Anglican Communion), TEC Bishops, TEC Conflicts, TEC Conflicts: Los Angeles, Theology

WSJ–Google Says It Mistakenly Collected Data on Web Usage

Google Inc. said an internal investigation has discovered that the roving vans the company uses to create its online mapping services were mistakenly collecting data about websites people were visiting over wireless networks.

The Internet giant said it would stop collecting Wi-Fi data from its StreetView vans, which workers drive to capture street images and to locate Wi-Fi networks. The company said it would dispose of the data it had accidentally collected.

Alan Eustace, senior vice president of engineering and research for Google, wrote in a blog post that the company uncovered the mistake while responding to a German data-protection agency’s request for it to audit the Wi-Fi data, amid mounting concerns that Google’s practices violated users’ privacy.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Blogging & the Internet, Corporations/Corporate Life, Economy, Ethics / Moral Theology, Law & Legal Issues, Science & Technology, Theology

Mark Steyn–The Self-Mutilation Of The West

What with the Fort Hood mass murderer, the Christmas Pantybomber and now the Times Square Bomber, you may have noticed a little uptick in attempted terrorist attacks on the U.S. mainland in the last few months.

Representative Lamar Smith did, and, at the House Judiciary Committee, was interested to see if the Attorney-General of the United States thought there might be any factor in common between these perplexingly diverse incidents.

“In the case of all three attempts in the last year, the terrorist attempts, one of which was successful, those individuals have had ties to radical Islam,” said Congressman Smith. “Do you feel that these individuals might have been incited to take the actions that they did because of radical Islam?”

“Because of …?”

“Radical Islam,” repeated Smith.

“There are a variety of reasons why I think people have taken these actions,” replied Eric Holder non-committally. “I think you have to look at each individual case….”

Read it all.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Europe, Foreign Relations, Islam, Other Faiths, Religion & Culture, Terrorism

Online Talk, Suicides and a Thorny Court Case

The seemingly empathetic nurse struck up conversations over the Internet with people who were pondering suicide. She told them what methods worked best. She told some that it was all right to let go, that they would be better in heaven, and entered into suicide pacts with others.

But the police say the nurse, who sometimes called herself Cami and described herself as a young woman, was actually William F. Melchert-Dinkel, a 47-year-old husband and father from Faribault, Minn., who now stands charged with two counts of aiding suicide.

Mr. Melchert-Dinkel, whose lawyer declined an interview request on his behalf, told investigators that his interest in “death and suicide could be considered an obsession,” court documents say, and that he sought the “thrill of the chase.” While the charges stem from two deaths ”” one in Britain in 2005 and one in Canada in 2008 ”” Mr. Melchert-Dinkel, who was indeed a licensed practical nurse, told investigators that he had most likely encouraged dozens of people to kill themselves, court documents said. He said he could not be sure how many had succeeded.

The case, chilling and ghoulish, raises thorny issues in the Internet age, both legal and otherwise. For instance, many states have laws barring assisting suicide, but rarely have cases involved people not in the same room (much less the same country) or the sharing of only words (not guns or pills).

Read it all

Posted in * Culture-Watch, Blogging & the Internet, Law & Legal Issues, Psychology, Suicide

Baltimore Sun–Episcopal bishop-elect prepares for historic move to Los Angeles

The Maryland priest at the center of a seismic tumult in the worldwide international Anglican Communion is slim and stands just over five feet, wears her gray hair cut short and greets visitors with a strong two-handed grasp. She’s known to former parishioners and colleagues for emotional and insightful sermons, administrative skill, high energy ”” and for occasionally wearing a giant foam wedge of cheese on her head to honor her favorite NFL team.

The Rev. Canon Mary Douglas Glasspool, due to be consecrated Saturday as bishop in the Episcopal Diocese of Los Angeles, is known to the rest of the world by a phrase that would fit on a bumper sticker: “First openly lesbian bishop.”

If the label seems handy, Glasspool said she hopes it soon outlives its usefulness.

“People who know me, the label will disappear. All I’m asking is an opportunity to get to know me,” Glasspool, 56, said last week in an interview at the Baltimore headquarters of the Episcopal Diocese of Maryland. As canon to the bishops for the last nine years, she has served there as principal adviser to the leaders of the church.

Read it all.

Posted in * Anglican - Episcopal, Episcopal Church (TEC), Sexuality Debate (in Anglican Communion), TEC Bishops, TEC Conflicts, TEC Conflicts: Los Angeles

Gabrielle Birkner:Fertility Treatment Gets More Complicated

What does a Jewish child need most from a mother? Forget about the chicken soup””it’s all about the eggs, say a growing number of prominent rabbis. Several recent rabbinic rulings on fertility treatment dictate that a child conceived in vitro is Jewish only if the egg came from a Jewish woman.

The issue is most pressing in Israel, in part because tight restrictions on egg donation have long compelled infertile women to procure eggs abroad, where most donors are not Jewish. But decisions in Israel favoring the genetic mother over the gestational one are also likely to increase the already high demand for Jewish eggs in the U.S., and could call into question the religious status of thousands of children born to Jewish women around the world.

Read it all.

Posted in * Culture-Watch, * Religion News & Commentary, Children, Health & Medicine, Judaism, Life Ethics, Marriage & Family, Other Faiths, Science & Technology

Friday Mental Health Break (II): Karl Jenkins conducts Palladio

Posted in * Culture-Watch, Music

Caroline Baum–European Leaders Dozed During TARP Class

When U.S. authorities faced financial panic in 2008, their first response was to pump liquidity into the system. It was access to credit, not the quality of credit, that was the issue, they thought.

It turned out they were wrong. U.S. banks were facing a full-fledged solvency crisis. They owned assets that weren’t worth the paper their financial statements were printed on. Congress appropriated $700 billion to recapitalize the banks.

Fast forward 19 months and travel east across the Atlantic where Europe’s leaders confronted a home-grown sovereign debt crisis, a rout in financial markets and a loss of confidence in the euro. Their solution? Lend more money to already indebted countries.

Europe’s leaders must have been snoozing in the back row when the teacher conducted the TARP review class. (TARP stands for Troubled Asset Relief Program.) You can’t recapitalize a sovereign nation by issuing more debt. In the same way that more lending couldn’t enhance U.S. banks’ capital adequacy, “extending more credit to (European) nations that can’t service their accumulated debt won’t make them more creditworthy,” says Carl Weinberg, chief economist at High Frequency Economics in Valhalla, New York.

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Posted in * Economics, Politics, * International News & Commentary, Credit Markets, Economy, Europe, Politics in General, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The September 2008 Proposed Henry Paulson 700 Billion Bailout Package

Anglican Church of Canada conducts major online qual study

The Anglican Church of Canada has been using online qualitative research to find out how it can remain relevant to Anglicans over the next decade.

The church set up a website where Anglicans could submit their responses to two questions they had been asked by the organisation: “Where is your church now and where do you want the Anglican Church of Canada to be in 2019?” More than 1,000 responses were received via video, audio recordings, emails, faxes and phone messages.

Read it all.

Posted in * Anglican - Episcopal, Anglican Church of Canada, Anglican Provinces

Western Catholic Reporter–Families evolve into a mosaic of patterns

Prof. Adrian Thatcher, who teaches applied theology at the University of Exeter in the United Kingdom, said while he found the tone of many empirical studies on family outcomes to be “polemical, alarmist and conservative,” the results should not be dismissed because of that tone.

The empirical data shows that it is far better for children to have married parents, he said. Two-parent families have better outcomes for children from better physical and emotional health, to less likelihood of poverty to the lower likelihood that that child will eventually divorce.

What the churches have been teaching for centuries about marriage being good for children, parents, spouses and society can now be empirically verified, he said.

Thatcher, the author of several books including Theology and Families, said an exploration of Jesus’ teaching, however, shows he placed the kingdom of heaven above kin.

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Posted in * Culture-Watch, * International News & Commentary, Canada, Children, Marriage & Family, Religion & Culture

ACI–Asking The Wrong Question: New Zealand and The Anglican Covenant

In the past the Archbishop of Canterbury has acknowledged indirectly that he has this authority. When he wrote the Primates in December 2006 concerning the upcoming meeting in Dar es Salaam, Archbishop Williams advised them that: “I have decided not to withhold an invitation to Bishop Katharine Jefferts Schori as the elected Primate of the Episcopal Church to attend the forthcoming meeting. I believe it is important that she be given a chance both to hear and to speak and to discuss face to face the problems we are confronting together.” He indicated in this letter that this was his decision based on open questions about TEC’s response to the Windsor Report. Those questions have now been conclusively answered by TEC, and a different decision is now required if the Communion is to survive.

Separately, when Ian Douglas was consecrated bishop he was disqualified from membership in the ACC (and its standing committee) since that would give TEC two bishops among its three members, which is not permitted under the ACC constitution. As The Church of England Newspaper reports, both TEC and Douglas take the position that he can be elected in June to the episcopal seat of the retiring Catharine Roskam (who continues to serve under ACC rules until just before the next meeting) and thereby remain on the ACC standing committee. But this result would violate ACC rules, and this position entails in any event the recognition that his current clerical seat has been relinquished by his consecration to the episcopacy. In other words, his seat on the ACC standing committee is already vacant, and he cannot resume that seat if he is elected to Roskam’s seat, which would not take effect until the next ACC meeting in any event under ACC rules (Resolution 4:28). Under the ACC bylaws (Article 7) the standing committee is now required to appoint a clerical member to fill the seat on the standing committee formerly held by Douglas.

Indeed, there is a precisely analogous situation in Canada to that of Douglas and TEC. Stephen Andrews, like Douglas, went to ACC-14 in Jamaica as a clergy member for his first meeting. After ACC-14, Andrews was consecrated bishop by the Anglican Church of Canada. Canada understands that Andrews ceased to be a member of the ACC upon his consecration and therefore that he has now been replaced by his clerical alternate. Indeed, Andrews was elected bishop before ACC-14, but his consecration delayed until after the meeting in Jamaica (we are told) precisely because Canada understood the ACC implications of his consecration. If TEC is permitted to circumvent the ACC rules to keep Douglas on the ACC and its standing committee, especially after the decision to disqualify Uganda’s chosen ACC representative at Jamaica, any remaining trust in the ACC will be lost forever.

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Posted in * Anglican - Episcopal, Anglican Church in Aotearoa, New Zealand and Polynesia, Anglican Church of Canada, Anglican Covenant, Anglican Provinces, Ecclesiology, Episcopal Church (TEC), Instruments of Unity, Sexuality Debate (in Anglican Communion), TEC Bishops, Theology, Windsor Report / Process

Friday Mental Health Break (I): David After Dentist

This is one of those minor Internet classics which you may not have seen; if not it really is a lot of fun–KSH.

Posted in * General Interest, Humor / Trivia

BBC–Italy to have married teacher as first woman priest in Old Catholic Church

A married teacher is poised to become Italy’s first woman priest when she is ordained later this month in an Anglican church close to the Vatican.

Maria Longhitano, a member of the breakaway Old Catholic Church, says she hopes her ordination will break down “prejudice” in the Roman Church.

The event may energise the debate among Roman Catholics about the role of women, a BBC correspondent says.

Read it all.

Posted in * Anglican - Episcopal, * International News & Commentary, * Religion News & Commentary, - Anglican: Latest News, Europe, Italy, Other Churches, Roman Catholic

John Allen–An ”˜Affirmative Orthodoxy’ tour de force in Portugal

Ever the academic, Benedict’s speeches to leaders in culture, science and the arts are always among the most personal and carefully considered during his foreign trips. In his address…the pope made three basic points:

”¢ The best of modernity lies in a broad humanistic “wisdom,” expressed in values such as universality and fraternity. That wisdom rests on a three-legged historical stool formed by Christianity, the Enlightenment and secular thought. Trying to suppress Christianity makes the stool wobbly, so the church’s defense of objective truth is a matter of saying “yes” to those values rather than “no” to rival ideas.
”¢ Dialogue among different cultures and philosophical systems is a “priority in the world, from which the church does not intend to withdraw.” In fact, Benedict quoted Pope Paul VI to the effect that “the church must enter into dialogue with the world in which it finds itself.”
”¢ The Second Vatican Council (1962-65) “welcomed and recreated the best of the longings of modernity,” thereby generating “an authentic Catholic renewal.”

Read the whole article.

Posted in * International News & Commentary, * Religion News & Commentary, Europe, Other Churches, Pope Benedict XVI, Portugal, Roman Catholic

FT–Portugal unveils ”˜crisis tax’ to cut deficit

Portugal has been seen as one of the European Union members most vulnerable to an attack by the markets after Greece.

The austerity drive is designed to reduce the Portuguese budget deficit from 9.4 per cent of gross domestic product in 2009 to 7 per cent this year and 4.6 per cent in 2011. Portugal had initially targeted deficits of 8.3 per cent of GDP this year and 6.6 per cent in 2011. As part of the cuts, politicians and public sector managers will see their salaries fall five per cent.

The tax rises, which are being called a“crisis tax”, include a 2.5 percentage point increase in corporate tax to 27.5 per cent on annual profits above €2m, a 1 percentage point increase in value added tax to 21 per cent and increases of up to 1.5 percentage points in income tax.

Asked why he had broken a pledge not to increase taxes, Mr [José] Sócrates said: “The world has changed, and how, in the past two weeks.”

Read the whole article.

Posted in * Economics, Politics, * International News & Commentary, Economy, Europe, Politics in General, Portugal, Taxes

ENS–in Arizona, Episcopalians assess implications of immigration law

The Rev. Canon Carmen B. Guerrero remembers living with the fear of her mother, a third-generation Mexican American, “who would never go close to the border because she was afraid of getting deported, although she had been born here.”

For Guerrero, canon for peace and justice in the Episcopal Diocese of Arizona, the state’s tough anti-illegal immigration law feels a bit like déjà vu.

Guerrero described suffering of her parishioners because of the immigration debacle.

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Posted in * Anglican - Episcopal, * Culture-Watch, * Economics, Politics, Episcopal Church (TEC), Law & Legal Issues, Politics in General, Religion & Culture, State Government

Pope Speaks out on Same Sex Marriage and Abortion

Meeting Catholic charity workers at the shrine, the Pope called for “defence of life” and “indissoluble marriage between a man and a woman” in response to what he described as the dangerous threats of gay marriage and abortion. He offered his thanks to those who helped people “wounded by the drama of abortion”.

His words will be studied in Britain where Catholics prepare for their own visit by the Pope in September. In the pre-election television debates, David Cameron said he disagreed with the Pope’s teaching on homosexuality. The Liberal Democrat leader Nick Clegg indicated he agreed with Mr Cameron.

The Pope’s condemnation of gay marriage was itself condemned by secularists and gay rights campaigners. Terry Sanderson, president of the National Secular Society, accused Benedict of trying to interfere with the country’s democratic will. “If the President of Portugal approves the law on gay marriage ”“ and there is every indication that she will ”“ it will represent a slap in the face for the Pope’s authority.”

Read the whole thing.

Posted in * Religion News & Commentary, Other Churches, Pope Benedict XVI, Roman Catholic

Susan Passi-Klaus: Preventing church volunteer burnout

Too often, church volunteers burn out while in the trenches of servanthood.

In churches where there is always a ministry to tend, a committee to lead, a class to teach or an event to chair, it is hard to find people willing to step up to the plate. When you find them, it is even harder on the church to lose them, especially if they are doing a good job.

“Brent,” who asked that he not be identified, has been a member of his church for more than 10 years. He has spent seven of those helping with the youth, ushering every Sunday, serving on the worship and finance committees, and pitching in with special programs and activities. Eventually, his church time took a toll on his work and family time.

“I looked up, and my work and family life had begun to suffer. I knew I had to let something go,” he said. Brent prayed long and hard about cutting back on his church obligations, especially working with youth.

“It was hard,” he said. “They had shared a lot with me on their mission trips and at other activities through the church.”

Read it all.

Posted in * Christian Life / Church Life, * Religion News & Commentary, Methodist, Other Churches, Parish Ministry, Pastoral Care, Pastoral Theology, Theology

Talk of the Nation–Modesty And Faith Connected In Many Religions

In recent weeks, skirmishes in the cultural conflict over the clothes worn by some Muslim women erupted in Belgium’s parliament, in an Italian court and at a traffic stop in France. The burqa and the niqab cover a woman’s body almost completely, but there are also disputes over less comprehensive coverings, including the head scarf.

While the issue of the moment is about Muslim dress, Islam is hardly the only religion that connects modesty to faith. Mormons wear special garments. Amish women adopt plain clothes and cover their heads – men, too. Some Jews and Christians either encourage or require modest appearance, and many faiths have rules about hair – again both male and female.

Is this tradition or scripture? What kinds of problems do these practices present in a largely secular world?

Read or listen to it all.

Posted in * Culture-Watch, * Religion News & Commentary, Islam, Judaism, Other Churches, Other Faiths, Religion & Culture

60 minutes–Strategic Default: Walking Away from Mortgages

Despite some indications that the economy is recovering, the housing market remains a disaster area. Currently, about seven million homeowners are behind on their mortgages and that number is only getting worse.

Banks, with the help of the government, are offering some relief to homeowners who’ve lost jobs and just can’t meet their payments.

But there’s a growing number who can pay but are simply walking away from houses that are now worth as little as half of what they paid for them.

It’s called “strategic default.” People have done the math and decided making those monthly payments is just throwing money away, leaving the mortgage holders – the banks – as zookeepers of an ever-growing parade of white elephants.

In the past year it is estimated that at least a million Americans who can afford to stay in their homes simply walked away.

Read it all or watch the video .

Posted in * Economics, Politics, Economy, Ethics / Moral Theology, Housing/Real Estate Market, Personal Finance, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, Theology

Benedict XVI's Address at the Meeting with the world of culture in the Cultural Center in Belém

Ours is a time which calls for the best of our efforts, prophetic courage and a renewed capacity to “point out new worlds to the world”, to use the words of your national poet (Luís de Camões, Os Lusíades, II, 45). You who are representatives of culture in all its forms, forgers of thought and opinion, “thanks to your talent, have the opportunity to speak to the heart of humanity, to touch individual and collective sensibilities, to call forth dreams and hopes, to broaden the horizons of knowledge and of human engagement. [”¦] Do not be afraid to approach the first and last source of beauty, to enter into dialogue with believers, with those who, like yourselves, consider that they are pilgrims in this world and in history towards infinite Beauty!” (Address to Artists, 21 November 2009).

Precisely so as “to place the modern world in contact with the life-giving and perennial energies of the Gospel” (John XXIII, Apostolic Constitution Humanae Salutis, 3), the Second Vatican Council was convened. There the Church, on the basis of a renewed awareness of the Catholic tradition, took seriously and discerned, transformed and overcame the fundamental critiques that gave rise to the modern world, the Reformation and the Enlightenment. In this way the Church herself accepted and refashioned the best of the requirements of modernity by transcending them on the one hand, and on the other by avoiding their errors and dead ends. The Council laid the foundation for an authentic Catholic renewal and for a new civilization ”“ “the civilization of love” ”“ as an evangelical service to man and society.

Read it all.

Posted in * Culture-Watch, * International News & Commentary, * Religion News & Commentary, Europe, Other Churches, Pope Benedict XVI, Portugal, Religion & Culture, Roman Catholic

Joel Meares–The Most Widely Read Magazine in the World

You need to try to guess what it is before you click to read the article. I didn’t know the correct answer, fwiw–KSH.

Posted in * Culture-Watch, Media, Religion & Culture

Services suspended at St. Paul’s Episcopal in Millis, Massachusetts

Facing dwindling attendance over the past decade, the century-old St. Paul’s Episcopal Church in Millis has suspended all services and activities, according to the Episcopal Diocese of Massachusetts.

The move has left a preschool that has leased space in the lower level of the church for more than 30 years scrambling to find a new home, after being given two weeks notice.

“We were informed early about the suspension of the church,’’ said Stacey Giancioppo, director of Big Bird’s Nest Nursery School. “Immediately upon hearing the news we were faced with finding a new space. It’s not something we thought we’d have to do.’’

The church’s rector and a representative of the vestry did not return requests for comment, but an outgoing voice-mail message on the church’s phone bluntly states the loss. “As of April 25, 2010, all church services and church activities have been suspended,’’ says a woman’s voice, choked with emotion. “You can leave a message here but please understand it may not be answered right away.’’

Read it all.

Posted in * Anglican - Episcopal, * Christian Life / Church Life, Episcopal Church (TEC), Parish Ministry, TEC Parishes

In Job Market Shift, Some Workers Are Left Behind

Many of the jobs lost during the recession are not coming back.

Period.

For the last two years, the weak economy has provided an opportunity for employers to do what they would have done anyway: dismiss millions of people ”” like file clerks, ticket agents and autoworkers ”” who were displaced by technological advances and international trade.

The phasing out of these positions might have been accomplished through less painful means like attrition, buyouts or more incremental layoffs. But because of the recession, winter came early.

The tough environment has been especially disorienting for older and more experienced workers like Cynthia Norton, 52, an unemployed administrative assistant in Jacksonville.

“I know I’m good at this,” says Ms. Norton. “So how the hell did I end up here?”

Read it all.

Posted in * Economics, Politics, Economy, Labor/Labor Unions/Labor Market, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--

Prosecutors Ask if 8 Banks Duped Rating Agencies

The New York attorney general has started an investigation of eight banks to determine whether they provided misleading information to rating agencies in order to inflate the grades of certain mortgage securities, according to two people with knowledge of the investigation.

The investigation parallels federal inquiries into the business practices of a broad range of financial companies in the years before the collapse of the housing market.

Where those investigations have focused on interactions between the banks and their clients who bought mortgage securities, this one expands the scope of scrutiny to the interplay between banks and the agencies that rate their securities.

The agencies themselves have been widely criticized for overstating the quality of many mortgage securities that ended up losing money once the housing market collapsed. The inquiry by the attorney general of New York, Andrew M. Cuomo, suggests that he thinks the agencies may have been duped by one or more of the targets of his investigation.

Those targets are Goldman Sachs, Morgan Stanley, UBS, Citigroup, Credit Suisse, Deutsche Bank, Crédit Agricole and Merrill Lynch, which is now owned by Bank of America.

Read it all.

Posted in * Culture-Watch, * Economics, Politics, Credit Markets, Economy, Housing/Real Estate Market, Law & Legal Issues, Politics in General, State Government, The Banking System/Sector, The U.S. Government

60 minutes–Uncovering the Roots of Homegrown Terrorism

“What we’re facing here is not an episodic series of terrorist events. What we’re facing is a group of people who see themselves as revolutionaries,” Phillip Mudd said.

Until he retired a few months ago, Mudd was the senior intelligence advisor to the FBI and its director. He is an authority on homegrown terrorism and believes the recent activity has been poorly organized and executed by lone wolfs or clusters of individuals who aren’t part of an organized network or a terrorist cell. Instead, they see themselves as part of global movement that is being facilitated by the Internet.

“The Internet often is not the initial spark, but it helps them go down a path,” he explained.

Asked what they are seeing on the web, Mudd said, “They’re seeing images, for example, of children and women in places like Palestine and Iraq, they’re seeing sermons of people who explain in simple, compelling, and some cases magnetic terms why it’s important that they join the jihad. They’re seeing images, and messages that confirm a path that they’re already thinking of taking.”

And according to Mudd, they are seeing all of this in English.

Read or better yet watch it all via video.

Posted in * Culture-Watch, * Economics, Politics, * International News & Commentary, * Religion News & Commentary, America/U.S.A., Asia, Defense, National Security, Military, Globalization, Islam, Other Faiths, Pakistan, Terrorism, Yemen

NCR–New Report Confirms Pornography’s ”˜Devastating Impact’ on Society

Recent headlines about pornography use at the Securities and Exchange Commission stirred public disgust with government officials who viewed thousands of hard-core images while Wall Street banks imploded.

Yet experts and religious groups that have struggled for years to raise awareness about the destructive consequences of pornography use hope the news will contribute to a sea change in social attitudes.

In fact, anti-pornography crusaders received another boost from the American Psychiatric Association, which just released new draft diagnostic guidelines that identified pornography addiction as a form of “hypersexual disorder” and thus worthy of serious study and treatment.

The breakthrough at the American Psychiatric Association provides additional context for a new report endorsed by a broad swath of academic leaders: “The Social Costs of Pornography: A Statement of Findings and Recommendations.”

Read it all.

Posted in * Culture-Watch, Pornography

David Leonhardt–In Greek Debt Crisis, Some See Parallels to U.S.

It’s easy to look at the protesters and the politicians in Greece ”” and at the other European countries with huge debts ”” and wonder why they don’t get it. They have been enjoying more generous government benefits than they can afford. No mass rally and no bailout fund will change that. Only benefit cuts or tax increases can.

Yet in the back of your mind comes a nagging question: how different, really, is the United States?

The numbers on our federal debt are becoming frighteningly familiar. The debt is projected to equal 140 percent of gross domestic product within two decades. Add in the budget troubles of state governments, and the true shortfall grows even larger. Greece’s debt, by comparison, equals about 115 percent of its G.D.P. today.

The United States will probably not face the same kind of crisis as Greece, for all sorts of reasons. But the basic problem is the same. Both countries have a bigger government than they’re paying for. And politicians, spendthrift as some may be, are not the main source of the problem.

We, the people, are.

Read it all.

Posted in * Economics, Politics, * International News & Commentary, Budget, Credit Markets, Economy, Europe, Greece, Social Security, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--, The National Deficit, The U.S. Government