-
MDRackham commented on the blog post B.C. Protest This Saturday to Stop Warren Buffett’s BNSF Coal Trains
I don’t get the point of this protest at all.
I get that coal is a nasty thing to burn. I get that Buffett stands to make a lot of money from that nasty burning. I get that with his fortune he gets political access. I get that we’d all be better off if the coal stayed in the ground.
But protesting against BNSF? That makes no sense. BNSF is a common carrier railroad, and is obligated by law to carry any cargo presented to them, at their published rates. They aren’t allowed to pick and choose customers, and have limited ability to discriminate even on pricing. This dates back to English common law, and was strengthened in this country to deal with railroad monopolies in the Progressive era. (And, yes, weakened again by the Staggers de-regulation act in the Reagan 1980s.)
So are the protesters hoping BNSF gets out of the railroad business? That seems hopeless.
Better to go after the mine owners (which may still involve Buffett), or go after the people buying the coal (which may be impossible), or make the case on the actual global warming effects. Blocking trains will just get a few people arrested and that’s it.
-
MDRackham commented on the blog post Postal Service to Degrade Quality in a Bid for Competitiveness
Yes, there is a difference between 1 day and 2 day delivery. It’s the difference between 45 cents (USPS) and 15 dollars (FedEx) if you need to get something there the next day.
-
MDRackham commented on the blog post Senate Democrats Ready Expanded Payroll Tax Legislation; Vote This Week
The way business remains slow, I expect it will be spent.
-
MDRackham commented on the blog post Senate Democrats Ready Expanded Payroll Tax Legislation; Vote This Week
The employer side cut is a big help to the self-employed who have to pay both sides of the payroll tax.
No doubt it’s a giveaway for large employers, but for the true small business and self-employed I can see it having a stimulative effect.
-
MDRackham commented on the blog post Angel Investor Warren Buffett Dumps $5 Billion into BofA
You’re right that this is something out the past, but a lot older than September 2008.
The US Treasury had to go to JP Morgan in 1895 to borrow gold because the Treasury was almost out. Otherwise the US would have been bankrupt.
And during the Panic of 1907, it was Morgan that took charge of money provided by the Treasury and divvied it up between the big New York banks, saving most of them in the process.
Morgan, for all his (many!) faults, understood that his wealth depended on the overall health of the economy. Buffett understands that too, but I wonder how many of the MOTU do. Jamie Dimon and company seem to believe it’s always someone else’s job to save them.
-
MDRackham commented on the blog post Treasury Department Officially Shuts Down Constitutional Option
And in the case of default, wouldn’t anyone who doesn’t get paid have standing to sue for the violation of the 14th amendment? Whereas invoking the 14th would seem to leave no one with standing.
So I guess they *do* want to fight this out in court.
-
MDRackham commented on the blog post Thousands Converge on Koch Brothers Billionaire’s Caucus; 25 Arrested
Wanna bet that next year there’s an official “free speech zone” erected, say, 5 miles from the Koch meeting site?
