Democrats give special interests a role at convention

Barack Obama accepts the Democratic nomination for president (Photo credit: Wikipedia)

By Matea Gold – As a candidate in 2008, Barack Obama vowed to squelch the role of special interests in financing the party conventions — so he barred corporations and lobbyists from contributing money to this year’s national convention in Charlotte, N.C.

But even as Democrats tout the three-day event in September as a populist gathering, organizers have found ways to skirt the rules and give corporations and lobbyists a presence at the nominating convention. That suggests they can’t raise the $37 million for the political extravaganza without at least some help from moneyed interests.

Under terms set by the Democratic National Committee, individuals are limited to giving $100,000 to the host committee, the organization raising money for the convention. Donations from for-profit corporations, political action committees and lobbyists are prohibited. Corporations that have not repaid money from the Troubled Asset Relief Program or other bailout programs cannot make in-kind contributions. more> http://is.gd/LZC6kL

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Which fundamental issues has Europe solved?

Euro bank notes Türkçe: Euro banknotlar
(Photo credit: Wikipedia)

Economist – The calm that descended in the wake of the European Central Bank‘s flood of cheap, long-term bank lendinghas broken. A trillion euros will buy you about four months, as it turns out. What happens now?

What are the euro zone‘s problems? Primarily:

• Peripheral workers are uncompetitive and easy routes to devaluation are off the table.
• Markets therefore question the ability of sovereigns to make good on their debts. In the absence of a lender of last resort to governments, yields rise and fears of insolvency are self-fulfilling.
• Because governments are individually responsible for domestic banking systems, this leads to fears of banking collapse, which feedback into the growth and debt problems. Without a printing press, governments can’t credibly promise to be bank-lender of last resort without further undermining solvency.

How has the euro area addressed the fundamental problems? The slow, grinding process of internal devaluation is underway but is a long way from completion. There have essentially been no active steps taken to facilitate internal rebalancing. more> http://is.gd/G53exg

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What Happened With The NBN This Week?

By Alex Kidman – [Australia]

• The NBN rollout will require staff for construction and maintenance, but fibre splicing might be your best bet for some steady NBN work if you’re keen. [Lifehacker]
• iiNet will become the first service provider to offer all three types of NBN connectivity — fibre, satellite and wireless — when it kicks off its wireless service next month. [ITWire]
• Speaking of fixed wireless, services have commenced flowing from NBN Co’s first fixed wireless tower in Armidale, with Internode being the first retail provider. [ITWire]
• NBN Co’s started an aggressive advertising push, paying for radio time on Sydney’s 2GB, home to a number of NBN critics. They read the paid advertisements — but not without adding their own editorial spin beforehand. [Delimiter]

more> http://is.gd/qHXhkU

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Obama: It’s time for Augusta golf club to admit women members

The 9th hole on the par-3 course at the Augusta National Golf Club during the par-3 contest prior to the 2006 Masters Tournament. Jack Nicklaus' ball is to the left of the pin, and he had his grandson putt it (and he made it). The sequence can be seen on a video posted to youtube, Jack Nicklaus - Augusta 2006. Andy North's ball is to the right. Nicklaus, North, and Tom Watson were playing as non-competitors in the par-3 contest.
(Photo credit: Wikipedia)

By Alicia M. Cohn – President Obama thinks women should be allowed membership in the Georgia golf club that is hosting the Masters tournament this week, according to the White House.

“His personal opinion is women should be admitted,” White House press secretary Jay Carney said in a press briefing on Thursday.

The debate over the club’s exclusive membership has recurred numerous times since the club’s founding in 1933. This year, technology company IBM, one of the tournament’s corporate sponsors, appointed a woman, Virginia M. Rometty, as new chief executive. The CEOs of the tournament’s corporate sponsors have traditionally been offered a complimentary membership in the club, but Rometty has not yet been offered one.

“We’ve kind of passed the time that women should be excluded from anything,” Carney said. more> http://is.gd/icggT8

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