Showing posts with label Bernie Madoff. Show all posts
Showing posts with label Bernie Madoff. Show all posts

Thursday, December 31, 2009

Paul Solomon's year in review: 2009

Captain Chesley “Sully” Sullenberger became a household name last January 15th when he landed U.S. Airlines flight 1549 safely in the Hudson River despite losing power minutes after takeoff. All 155 passengers and crew, including a baby, were saved. The man known as “Sully” became an instant hero.

The year ended with another airline story. This time there was another hero, an unlikely passenger by the name of Jasper Schuringa. The Dutch passenger jumped on “Underwear Bomber”, Umar Farouk Abdulmutallab, after the 23-year-old student allegedly tried to detonate explosives he had hidden in his crotch, as Northwest Airlines flight 253 was on its descent into Detroit. The 289 passengers and crew were safe, although shaken up.

The media jumped on the “Underwear Bomber” story, making it the biggest story of 2009. Of course, that's because the Christmas Day incident was the last major story of the decade. It didn't hurt that after a few days of waffling on the subject, the Obama Administration admitted lapses in national security.

President Obama blamed “human and systemic” failures for the terror attempt. Then Dick Cheney burst back onto the scene and blamed Obama for “pretending we are not at war.” It should be noted that Obama just sent 30,000 troops to Afghanistan and the U.S. military has taken out more terrorists in 2009 with unmanned Predator drones and other strikes than in any year of the Bush Administration.

The fact that the Nigerian “Underwear Bomber” was trained in Yemen and was on a terrorist watch list (but not on the no-fly list) is a little unnerving. Also troubling is that his actions should have set off alarms at the two airport checkpoints prior to entering the U.S. He paid $3,000 cash, had no luggage, and was dressed for a trip to Southern California, not Detroit. I'm not saying that we should use racial profiling, but it seems odd that the guy wasn't pulled aside at any checkpoint.

More troubling in the discussion of airplane security is the fact that it is up to the public, and not trained law enforcement, to be in charge of apprehending suspects. The near-disaster brought back memories of 9/11, when passengers joined together to foil one airliner from reaching its destination, the White House. They all died, but they died as heroes.

What is the head of the Transportation Security Administration doing to prevent further attacks? Nothing, because the TSA is still waiting for leadership as the Republican party has blocked President Obama's nomination, former FBI agent and security expert Erroll Southers. The TSA is an important part of national security and has been politicized to the point of having no power to do anything. The Republicans are blaming Obama for taking too long to appoint someone to fill the post. Obama nominated Southers in September. South Carolina Republican Jim DeMint has been the major obstacle to nominating a TSA chief. The TSA is the division of Homeland Security that oversees airport security, but DeMint is concerned that Southers might let TSA screeners join a labor union. DeMint called the failed bombing attempt a “perfect example of why the Obama Administration should not unionize the TSA.” He claims unionization of TSA workers would give the “union bosses” the power “to veto or delay future security improvements at our airports.”

In between airline stories, there were other highlights in 2009. The historic inauguration of Obama, on a cold day in January, brought more than a million people to the National Mall in Washington D.C., to witness the swearing in of the 44th President of the United States. “We must pick ourselves up, dust ourselves off, and begin again the work of remaking America,” Obama said in his inaugural address. It may not be all that original, but Obama's oratorical skills made it possibly the sound bite of the year, except, of course, for the unusual breach of Congressional decorum when Rep. Joe Wilson (R-S.C.) shouted “You lie!” during a speech to Congress in September. Wilson blurted out his famous line immediately after Obama said, “There are those who claim that our reform effort will insure illegal aliens. This too, is false. The reforms I'm proposing would not apply to those who are here illegally.” So much for health care reform.

The economy went from bad to worse to a little better. Sarah Palin cashed in on her memoir “Going Rogue” as most Americans were going broke. President Obama continued Bush's policies of bailing out failed banks and the auto industry. The swine flu, renamed H1N1, was deemed a major pandemic, but most of us are still waiting to see what all the hype was about. As the news media were fixated on two wars and a cratering economy, a little political scandal seemed to come as a breather.

Governor Mark Sanford of South Carolina, a Republican, saw his presidential ambitions go up in smoke as he made national news by disappearing after telling aides he was going for a hike on the Appalachian Trail on June 18th. He surfaced six days later, saying that he actually had been in Argentina “with his soul mate.” The media went wild... Until Michael Jackson died a few days later.

The news of Michael Jackson's untimely death at the age of 50 caught the media by surprise, but they stayed with the story, even delving into Anderson Cooper's discovery of Jackson's old friend Bubbles the Chimp, whom he dressed in matching clothes and taught to do the “moonwalk”. Bubbles has been found living in retirement in Florida.

From “Balloon Boy” to Tiger Woods, pop culture news gave Americans a respite from the actual horrors of two wars and the global economic catastrophe. Carrie Prejean went from first runner-up in the Miss USA 2009 beauty pageant to media star when she famously objected to same-sex marriage in favor of “opposite marriage”.

While we've all been trying to figure out how our government gets anything done, as the health care reform bill passed in the House and got torn apart in the Senate, President Obama won the Nobel Peace Prize, and everyone scratched their heads wondering why.

As the symbol of economic excess, Bernie Madoff, is serving 150 years for bilking investors of millions of dollars, the economy is slowly making its way back. Cash For Clunkers was supposed to be a much-needed boost to the auto industry, but overall sales fell over 25%. General Motors and Chrysler filed for bankruptcy protection.

After hijacking the news media for much of the year, the Michael Jackson story ended on a fitting note. As the year wrapped up, it was announced that the “Thriller” video has been added to the film archives of the Library of Congress, the first music video to be so honored.

“And that's the way it was...”
-Walter Cronkite (1916-2009)

Saturday, June 27, 2009

Other News Besides Michael Jackson

The last two days, no matter where you were in the world, if you looked at a newspaper or turned on a TV, you saw the face of Michael Jackson. On Friday night's half-hour broadcast of "NBC Nightly News" host Brian Williams spent three minutes discussing news other than Michael Jackson.

Now that the shock has warn off, fans are celebrating Jackson's life, rather than mourning his death. News of possible drug use is surfacing in the Jackson case, and to fill the time, reporters are now discussing his financial empire, which is in disarray. But we already new that. The news media is now finding time to devote to other matters.

The main beneficiary of the sudden and worldwide media storm over the death of Jackson was South Carolina Governor Mark Sanford, who disappeared for most of last week, leaving his family and staff scratching their heads wondering where he was. The state was without a leader, leading some to speculate what would have happened if there had been a state-wide emergency. The Republican governor held a news conference Wednesday admitting to an extra-marital affair with a woman in Argentina.

On Thursday morning, Gov. Sanford was the was the talk of the media, because we all like a good scandal. Then Michael Jackson died, and Sanford got to dodge the spotlight for a few days, and all the other news went on the back burner. We took a few days to mourn a legend, and now other news items are beginning to pop up in between Jackson coverage. Now we're learning that on at least one occasion Gov. Sanford used taxpayer money to fund his extra-curricular travels. In other news, his wife has gained national media exposure for refusing to stand by the governor after he admitted to having an affair. This breaks the normal spousal response in such matters.

Ex-Governor of New York Eliot Spitzer's wife famously stood next to him last year when he admitted to seeing a high-priced call girl. Silda Spitzer, a Harvard Law School graduate, was noticeably uncomfortable, but she remained stoic, and she held hands with her husband as they walked off the podium after his statement. Hillary Clinton famously stood by her husband through the Monica Lewinsky scandal. Although he resigned in disgrace as governor, Spitzer remains married. We all know about Hillary Clinton. Gov. Sanford, on the other hand, hasn't indicated that he will resign as governor of South Carolina. What we do know, and the news media is eating it up, is that his wife, Jenny Sanford, no longer wants to have anything to do with him. A new media star is born. Jenny Sanford has broken the mold. She's taken the spotlight off her husband. Now she's the news.

In other developments, government leaders around the world are censoring Internet reports of the Iranian protests out of fear it could cause a revolution from their own repressed citizenry, according to the Washington Post. Bloggers and Twitter users in China have colored their profiles a light green in support of Iranian protesters, and some observers have noted parallels between the protests and China's own Tiananmen Square uprising of 1989. The Communist Party in China is reportedly using the playbook of Iran's Mahmoud Ahmadinejad by portraying the Iranian unrest as a Western conspiracy rather than a homegrown movement. Other countries, such as Cuba and Myanmar, are also working to stop Iranian news reports from gaining attention.

The House of Representatives held a moment of silence Friday for Michael Jackson. While the world wasn't watching, they also, by an incredibly close vote, 219 to 212, passed a climate change bill, despite claims among Republicans that the economy would worsen if we forced to have a "national energy tax." While Republicans complained that the bill would be a "massive transfer of wealth" from the United States to foreign countries, Democratic Rep. Tim Ryan said that the bill was needed so that the country would not be dependent on people who want to "fly planes into our buildings." The Republicans fear that the bill will raise the average family's energy bill by thousands of dollars a year. The Environmental Protection Agency said it would amount to a yearly increase of less than $111. The goal, according to Democrats, is to protect the country's national security, improve the environment, and boost the economy.

Back to news of Michael Jackson, as we continue to look into the possibility that drugs were the cause of his death, his family is looking through his finances, which are a confusing mess. His creditors will be busy for years, according to a report in the New York Times. After piling up millions of dollars in debt, Jackson needed a last-second $24 .5 million loan last year just to keep creditors from liquidating the Neverland Ranch in Northern California. "He never kept track of what he was spending," Alvin Malnik, a former adviser, told the Times. "He would indiscriminately charter jets. He would buy paintings for $1.5 million. You couldn't do that every other week and expect your books to balance." Jackson does have his assets, notably $1 billion in publishing rights. His biggest asset in his collection are the rights to the Beatles song catalog, which he bought for $47.5 million in 1985, causing a rift with Paul McCartney. The two had been good friends up until then, but the sale of the Beatles catalog to Jackson was big news after McCartney made headlines with his displeasure.

Speaking of money, and the fact that the news media is making room for non-Michael Jackson news, Bernie Madoff is expected to be sentenced on Monday to 150-years in the slammer, the maximum, at least if prosecutors get their way. It would be an unprecedented sentence, but because of the unprecedented nature of the crime, the maximum would seem appropriate. It was the biggest financial crime in history, and if Michael Jackson had died three days later, it would have gone unnoticed.

News of Michael Jackson's death shocked the world, but life goes on. And so does the news.