Monthly Archives: March 2017

Libertarian think tank makes case for legal sports betting – NorthJersey.com

Posted: March 4, 2017 at 1:42 am

Horse-racing monitors at Monmouth Park in Oceanport, where bettors can wager on races. The gambling industry hopes the Trump administration will be open to expanding wagering to sports betting.(Photo: Kevin Wexler/The Record)

The Competitive Enterprises Institute, known asalibertarian think, has published an eight-page paper on what it considers a foolish federal policy on sports betting in the U.S.

The group describes itself as "a non-profit public policy organization dedicated to advancing theprinciples of limited government, free enterprise, and individual liberty."

Here is my summary of some of the key passages:

For those not fully up to speed on how we got here, it's explained thusly:

The Origin of the Sports Gambling Ban.By the late 1980s, at least 13 states had considered proposals to legalize sports gambling, most in the hope that legalizing and taxing the activity would fill increasingly large budget deficits. That so worried gambling opponentssuch as lawmakers and sports league officials who feared gambling would compromise the integrity of sporting eventsthat Congress passed the Professional and Amateur Sports Protection Act of 1992 (PASPA). Once enacted, PASPA prohibited states that did not already allow sports betting from licensing, promoting, or authorizing the activity. In effect, PASPA blocked all states, save for Nevada, from legalizing and regulating bets on the outcome of individual sports contests.

"The proposal, sponsored by Sen. Bill Bradley (D-N.J.), was championed by the commissioners of the four major sports leagues, who testified that such a law was necessary to prevent a cloud of suspicion over athletes and games and to avoid sending a regrettable message to our young people. Congress justified intervening in what had traditionally been viewed as a matter for state regulation by declaring sports gambling a national problem. The harms it inflicts are felt beyond the borders of those states that sanction it. The moral erosion it produces cannot be limited geographically. Without federal legislation, sports gambling is likely to spread on a piecemeal basis and ultimately develop an irreversible momentum.

This is a segment on "game integrity with a reference to a very famous case:

"In many ways, sports betting lines operate like financial markets. For example, when international open market trading is done in commodities, attempts at manipulation become much easier to detect because anomalies will be noticed and analyzed quickly. The same holds for sports betting. Betting lines do not shift much. An extreme fluctuation, which might occur if large amounts of money was suddenly being bet on a longshot underdog, would set off alarm bells......

"This is exactly what happened during the Black Sox scandal, when several members of the Chicago White Sox threw the 1919 World Series. It was the strange, sudden shift in betting odds that first alerted sportswriters and others that something fishy was going on. Bookmakers originally had the Sox as 7-5 favorites, with rumors that the odds might go as high as 2-1 by the time of the game, but a sudden swing in betting in New Yorkan unusually large amount of money being bet on the underdog Cincinnati Redsput the odds at even money by Game 1. The odds shift occurred, it turned out, because gangsters had bribed several members of the heavily favored White Sox to throw the Series. Rumors about a fix were rampant well before the Series first pitch.

The Black Sox went on to become the most infamous sports betting scandal in history. As a result, nearly 100 years later, gambling remains virtually the only unpardonable sin for an active player, coach, or manager in any sport. Players who have used performance-enhancing drugs or have been found guilty of criminal acts ranging from assault to illegal dog fighting have returned to the field. Gambling on games, on the other hand, almost always results in lifetime bans for athletes and officials. This is a formidable disincentive for players to be involved with gamblers or game fixing. Yet, few remember today that it was the bookmakers those taking bets on the gam e who first caught the scent of something fishy going on with the World Series."

The volume of new tax revenue also is addressed:

"If this economic activity were brought into the daylight, it would mean millions of dollars for cash-strapped states. In New Jersey, for example, illegal sportsbook makers prosecuted in the late 1990s had an annual volume of around$200 million. Global gaming research firm GamblingCompliance projects that a fully developed legal American marketwhere bets are placed at casinos, online, and at retail bookmaking shopswould produce $12.4 billion in annual revenue, five times bigger than the U.K.s sports betting market and 11 times bigger than Italys. All of which would be subject to tax. Tapping into this new source of revenue would not even require new laws for most states, as the federal government already requires people to report earnings from gambling and even allows them to write off gambling losses up to the amount that allows them to offset their winnings."

The paper concludes by saying that "the law must treat consumers like adults."

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UN: All Sides Committed War Crimes in Aleppo – Being Libertarian

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The UN has determined that both the rebels and the opposition from Syrian and Russian forces had committed war crimes that have caused many casualties among the civilian population of Aleppo.

The investigation report released by the UN Commission of Inquiry noted that Syrian and Russian forcespervasively used weapons to bomb highly populated areas in the rebel-held capital of Aleppo during last years conflict.

According to Al Jazeerathesemunitions included aerial bombs, air-to-surface rockets, cluster munitions, incendiary bombs, barrel bombs, and weapons delivering toxic industrial chemicals.

The Syrian governmentalso used chlorine bombs, a banned chemically toxic weapon that caused hundreds of civilian casualties according to the UN report.The government has repeatedly denied using chemical weapons in the war, which has killedalmost 400,000 people.

The report also accused the Syrian government of ameticulously planned and ruthlessly carried out air strike on a UN and Syrian Red Crescent convoy in western Aleppo in September, which killed14 aid workers.

According toAl Jazeeras Mohammed Jamjoom, the press was told was that the UN is preparing a dossier so if there is a tribunal that eventually happens, the evidence is ready to try to prosecute those who are accused of doing war crimes.

Rebels have been accused of firing shells indiscriminately at government-held areas and other parts of western Aleppo. Rebels also reportedly prevented groups of civilians from escaping eastern Aleppo during the latter stages of its fall, and used some civilians as human shields.

The Syrian government has repeatedly deniedmost of the claims put forth against it, and the rebels have also failed to take any accountability for their actions. Both sides have ravaged the city of Aleppo, killed many innocent civilians, and have used inhumane and illegal methods in fighting each other.

Photo Credit: Reuters/Kenan Al-Derani

This post was written by Nicholas Amato.

The views expressed here belong to the author and do not necessarily reflect our views and opinions.

Nicholas Amato is the News Editor at Being Libertarian. Hes an undergraduate student at San Jose State University, majoring in political science and minoring in journalism.

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Zodiac Turns 10: Why This Amazing Film Is Libertarian – Reason (blog)

Posted: at 1:42 am

Screenshot via ZodiacThe Washington Post's Alyssa Rosenberg notes that David Fincher's Zodiac was released 10 years ago. The film received rave reviews, but still seems underappreciated by the general public. In her retrospective, Rosenberg notes that Zodiacwhich chronicles the efforts of police officers and journalists to catch a real-life serial killer in the 1960s and 70sstill resonates:

The characters have resources to pursue their investigations, and they're given time and plenty of leeway by their superiors (though one local politician runs for governor on the argument that the cops didn't have what they needed to crack the case). And neither is "Zodiac" a story about the sorts of failures involved in the Vietnam War, where brilliant people, restricted both by their own faith in technocratic solutions and their fears of being seen as soft on Communism, made fatally terrible decisions.

Instead, Fincher captures the uncertainty and loss of confidence that follow from a prolonged failure by institutions and people who are doing everything they're supposed to, only to find that it doesn't produce the correct results.

Ten years after "Zodiac" was released, and almost fifty years after the July 4 killing that sets the movie in motion, we're still living with and working through the consequences of the decline and loss of faith David Fincher captured in this masterful film. Fincher's "Fight Club" offered up a vision of weaponized male turned against society as a whole, while his "Gone Girl" portrayed female anger that had been distilled into a particularly venomous domestic poison. "Zodiac" is his movie for the rest of us, who have to live in a world going slowly insane without losing ourselves.

For me, Zodiac was a story about obsessionwhat it feels like to care about something that most other people have lost interest in. The serial killerwho calls himself the Zodiac and sends cryptic messages to the authoritiesslaughters a handful of people, and then largely retreats into the shadows. He botches some of his attacks, and others don't fit his profile, calling into question whether he's a single person or a group of completely unrelated nutcases taking advantage of a momentary spotlight.

As days become weeks and even years, everybody moves on, except the police officers assigned to the case and the newspaper cartoonist who can't let it go. They're driven, not by public safetyas one character points out, more people die crossing the street than at the hands of the Zodiac killerbut by their own insatiable, personal need to solve the case. Asked why he still cares about a serial killer who has long since fallen inactive, Jake Gyllenhaal's character snaps, "I need to know who he is!" Anyone who's ever attempted a 500-piece jigsaw puzzle, but misplaced the last few pieces, will relate.

Zodiac also makes some lightly libertarian criticisms of authorityin particular, its limits. The various representatives of the institutions that fail to capture the killerthe police, newspapers, local politiciansaren't evil, or incompetent. They're decent people trying to do right by the citizens of California. But they encounter structural problems: the crimes cross city and county lines, and no single entity has all the relevant information. In an early scene, the lead detectives ask a county official to make copies of the evidence in his possession and fax it to San Francisco PD. He replies, "We don't have telefax yet."

The film also explores the notion that violence is random, and its underlying causes don't fit neatly into preconceived narratives. The Zodiac killer isn't Hannibal Lecter, or Ramsay Bolton. He's a weird loner whose actions don't reflect a discernible ideology of evil. This kind of real-world violence is the hardest to address through public policy, because there's no identifiable reason for it.

In the end, it took someone outside the law enforcement bureaucracyGyllenhaal's character, cartoonist Robert Graysmithto finally solve the case, to the extent that it's solved at all.

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Muh State Universities: Breaking Free of Indoctrination – Being Libertarian

Posted: at 1:42 am

Image courtesy of Flickr Creative Commons

With the victory of Betsy DeVos, it seems the Department of Education may be entering its end-of-life phase. Although I would thoroughly enjoy finishing it off with a few blows of a hammer (then poking it to ensure it is good and dead), the narrowness of her victory margin suggests that detractors will successfully petition to keep the department on life support for some time. Even though the mere existence of a Department of Education flies in the face of the Constitution, people have gotten rather used to it: kind of like the awkward office Christmas parties that everybody dreads but cant abandon because they are considered an integral part of polite society. Right below muh roads in importance is muh public schools. Publications like the New Republic seem to look at Ron Pauls revolutionary idea of public school abolishment as a sure symptom of severe mental illness (reason alone for me to strongly consider his stance).

I have both hope and misgivings about the appointment of DeVos, but I find the clear disdain for her, exhibited by some of my least-favorite talking heads, mildly encouraging. I am, at the very least, interested to see what she will do, and I hope that one of her first orders of system dismantling is to staunch the bleeding of tax dollars into higher education.

From a pragmatic perspective, this move is clearly a simpler one than some of her other endeavors will likely be. The people attending college are adults and (one would hope) better able to handle the removal of their babysitter. But the reason for its importance goes beyond mere convenience. Higher education and more specifically the governments funding of it lies at the crux of many of our most pressing problems in the United States.

Until recently, I would likely have promoted our illustrious institutes of education as a solution to problems, instead of their cause; probably because the Department of Education has the word education right in its name, and that sounded so promising. I wont go into all the spectacular examples that have proven this line of thinking obsolete, but I think most people who are not either Shaun King or professors teaching seminars entitled Why All White Men Are Hitler would agree that these institutions are largely failing to educate anybody. This fact is not likely to change overnight, but merely extricating the government from them accomplishes one vitally important end quashing the illusion of entitlement that is destroying our country.

One of the first experiences many people have when officially reaching adulthood is navigating college. When state schools are so heavily funded by taxes, supplemented by state-run student loans and grants, students are immediately handed a large sum of their tuition for free and thereby unaware of the true cost of education. According to the New America Foundation (cited in The Atlantic), the federal government (your taxes) spent $69 billion on funding for higher education in 2013 (and that does not include loans). Worse, as soon as students arrive on campus, peppy student body representatives are handing these mini adults their free condoms, meal cards, and bus passes. Two seconds after reaching adulthood, they are having the idea that life is supposed to be free reinforced.

Women are oppressed by their own fertility and must be compensated. We are all victims of natural hunger and must have meals provided by well, it doesnt really matter who is paying for it, as long as WE are not. No apartments are available next to campus, so we need transportation somebody needs to cover that. And we have the right to receive education, in the area of our interest, be it interpretive dance or something even less practical.

Furthermore, we have the right to be assisted by tax money in these endeavors. If we shockingly find ourselves unable to secure a spot in a wildly successful dance company, we can have our student loans forgiven, as if doing so just required an apology and a conciliatory handshake. We have a right, nay, a DUTY, to pursue our destiny.

Mind you, I am not discouraging individuals or businesses who want to assist struggling students in these areas. Quite the contrary. I am merely pointing out that by having the government do it, we are eliminating the faces of the generous donors and the natural gratitude that often follows direct receipt of a gift. We are replacing that with the impression that these services somehow grow on trees. There is a condom tree, a bus pass tree, and a tree that produces the gelatin dessert served in your dining hall.

This may account for the tree-hugging movement among environmentalists. They got their degrees at these schools.

Unfortunately, once the government has sold this lie to students, it has them in prime position to sell them more. Consider that if these items did grow on trees, the government would tax and regulate them until they were prohibitively expensive, then heroically find ways to cut costs for students by making somebody else pay for it. The legislators who did this would now be considered champions of equality and education by the students, even as they grift those very students future selves out of tax money.

And thus, the cycle of government dependence is born at the commencement of higher education. State-sponsored universities are creating citizens who see legislators as saviors and imagined entitlements as natural resources.

Eliminating government involvement is not likely to turn clueless students into responsible adults overnight, but it will hopefully avoid our current crisis of sending intelligent young people into expensive schools and having them emerge 4 years later, 50 economic I.Q. points lower.

If we are going to kill the beast of overreaching government, we need to go for the jugular: tax-funded higher education.

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Career Corner: The Golden Rule – Journal Record (subscription)

Posted: at 1:42 am

Angela Copeland

Have you ever gotten an email from someone who you just want to ignore? Perhaps its from a vendor you work with who wants to tell you about a new product he or she is selling. The email provides no immediate value for you. Theres nothing you can do about it right now, and frankly, youre busy. Youre so far up to your eyeballs in reports that you can barely breathe. Weve all been there. I can definitely relate. The easiest thing to do is often to ignore the email.

Now, think back to how you landed your last job, or maybe the one before. Chances are good that you found it not by applying online, but through a professional contact. Theres a good chance that you previously worked with that person, either directly or indirectly.

Its extremely common to be recruited by an outside company you do business with either your customer, or your supplier. After working with you, a company has a chance to see you up close. They know just how professional you are, and how devoted you are to your craft.

But, this will only happen if you treat those around you with a certain level of respect. Taking a moment to let people know youve received their email can mean the world, even if youre not able to fulfill their request. Im not suggesting that you say yes to everyone. And, Im certainly not suggesting you respond to things that are clearly spam. You dont have time for that.

But, do take the time to value those around you even on the days when theyre asking for something rather than offering something. For example, if someone is asking for a meeting that you would normally be open to, but are just too busy to take, send an email letting him or her know youve received the message and would like to meet, but are swamped for the next few weeks. Most everyone understands the concept of being busy at work. Or, if a person is asking for your help with something that you really cant do right now due to existing commitments, be honest and upfront.

The most difficult scenario is when you dont respond at all. When you ignore an email, it doesnt just tell the person that youre busy. It tells them that theyre not important. It says that youll respond only if youre getting something out of the deal. And, it says that you may not be as professional as he or she thought.

When youve been with one company for a number of years, this can begin to seem normal. You want to be efficient and use your time in the best way. But, sometimes something unexpected can happen. Your company may lay off an entire division. If youve focused all of your attention on internal folks, while not nurturing outside relationships, you may struggle more to find something new.

It goes back to the Golden Rule: Do unto others as you would have them do unto you.

Angela Copeland is CEO and founder of Copeland Coaching and can be reached at CopelandCoaching.com or on Twitter at @CopelandCoach.

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Golden Rule of Chaplaincy: Thy Shoes Matter – Boston.com

Posted: at 1:42 am

Think of a chaplain, and the quirky character of Father Mulcahy from the beloved TV show M*A*S*H might come to mind. But while chaplain Alyssa Adreani of Newton Wellesley Hospital likes to laugh at this image, as a female multi-faith cleric, shes far from the typical male stereotype. As Adreani, 41, likes to point out, she isnt just hanging out in the hospital chapel and doesnt wear a collar or a cross. Instead, as she makes the rounds from the NICU, oncology, ICU, orthopedics, and medical/surgical units, she follows her own Golden Rule of chaplaincy, which is: Wear comfortable shoes. The Globe spoke with Adreani about how hospital chaplains are considered part of the treatment team, even improving health outcomes.

Early on in my training, I would get questions like, Are you a priest? A nun? I would get flustered but then realized that people are curious. Then they would say, You dont look like a chaplain, to which I would reply, What does a chaplain look like? I did learn the hard way not to wear a black suit to work; I once wore one and the patient saw me and turned white, as if I was preparing for their death bed.

To become a board certified chaplain requires a rigorous preparation process that includes 1,600 hours of clinical training and ministry. One of my first days of my internship, I walked into a patient room, and she was crying, and said, Why is God punishing me? I got thrown into the deep end right away on that one.

Lifes most significant events regularly occur in the hospital. I do deal mostly with death, illness or decline, but I also visit the maternity units as well. It is an incredible blessing to see both ends of the spectrum. Chaplains really do see birth, death, and everything in between. Im really lucky to work at a hospital where spiritual care is valued. That said, people may misunderstand what a chaplain does or does not do. For example, patients may worry that a chaplain will judge them or try to convert them thats definitely not what we are about. We also, unfortunately, cant perform miracles.

I cant assume anything when I walk into a room and see a person for the first time. People surprise me everyday the way in which people experience and practice their faith and spirituality is amazing. Everyone has a story it is my privilege to listen to it. A lot of patients or families find it helpful to talk to a neutral party. They may just need to vent, to think out loud, to process something. They may want to hold a hand and pray or they may just want someone to sit with them to bear witness to the life that is passing. Some of my most memorable experiences have been really tough watching a young mom die; blessing a deceased toddler; holding a stillborn infant. These are excruciatingly difficult and a constant reminder of lifes fragility. There are definitely hard days, days when I am horrified by how unfair and unpredictable life can be.

Being a chaplain has given me a deep thirst for life I dont want to let it pass me by. I want to do everything I can run up mountains, travel, go skydiving, learn a new language. Im a runner, and being a chaplain hasnt made me run faster, but its made me appreciate running more. When I run, I pray for my patients, the staff, and others. I think about those who cant run. I run a little further for them.

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This Is the Future That Liberals Want Is the Joke That Liberals Need – The New Yorker

Posted: at 1:41 am

The photograph that started the gleefully stupid This is the future that liberals want meme.CreditPHOTOGRAPH BOUBAH360 / INSTAGRAM

In 1999, John Rocker, a beefy young relief pitcher for the Atlanta Braves, explained toSports Illustratedwhy hednever want to play baseball in New York. Imagine having to take the [Number] 7 train to the ballpark, looking like youre [riding through] Beirut next to some kid with purple hair next to some queer with AIDS right next to some dude who just got out of jail for the fourth time right next to some 20-year-old mom with four kids, he said. Its depressing. Thetabloids raged, local politicians condemned the remarks, and Major League Baseball suspended him for the first few months of the coming season. Rockers comments spurred New Yorkers to do a rare thing: praise the subway, in this case, the 7 train, with its especially diverse ridership, holding it up as an emblem of city pride.

This week, the New York subway featured in a similar skirmish in the culture wars, when a Twitter userre-posted a photographof a drag queen sitting on the train next to a woman in a niqab, with the caption, This is the future that liberals want. As with Rockers comments, the framing of a subway tableau as some kind of debased and terrifying dystopia was met with widespread derision. Part of the response was urgent and earnestanother assertion of cosmopolitan values during a time of ascendant reactionary politics. Twitter users pointed out that the sight of two very different-looking people riding the train was neither remarkable nor futuristicsuch things happen every day, right now. BuzzFeed tracked down Gilda Wabbit, the drag queen in the photo,who said, I wont speak for all liberals, but my goal is for everyone . . . to be able to exist as they choose without judgment or fear.

Mostly, though, liberals just laughed, and, for arare moment in the era of President Trump, they laughed at themselvesappropriating the offending tweet as a self-reflexive meme that mocked the original poster and liberal culture in equal measure. Users posted an array of photosPower Rangers, Care Bears, the animated eco-warriors of Captain Planet, the Young Pope, all manner of cute animals, Justin Trudeauas other visions of the long dreamed-of progressive future. As the meme spread, it devolved into near meaningless: people are now posting photos of just about anything with the phrase attached. It has become the first Thanks, Obama or Benghazi joke of the Trump eraan ironic repurposing of conservative outrage that is defused and made ridiculous.

The threats posed by Trumpism, of course, are seriousand one of Trumpisms central themes is an ever-narrowing conception of what it means to be an American, what it means to belong, who gets to be counted as us and who as other. To this end, the original tweet is exactly the kind of thing that deserves serious refutation. But one of the offshoots of the rise of Trump has been to rob many liberals of their sense of humor. To pay close attention to the news is to trap oneself in a daily cycle of outrage, self-righteousness, a pained recognition of the inelegance of that self-righteousness, and, finally, a feeling of futility. Part of what made the Womens March so powerful was its scenes of comedy, not simply the signs that mocked the President, but those that recognized the joyousness in the very of act of protest.

A classic strategy of the school bully is to make his enemies look, in comparison, like uptight weenies. Every time that Trump rages about fake news, people are compelled to respond with some form of, No, actually, reporting is real, and facts are important and essential to the functioning of democracy. Its a necessary response, but, on style points, the class clown always beats the teachers pet.

Sometimes, the nonsense campaign of Trump and his most fervent supporters must be recognized as such and ignored, or else, as in this case, mocked and hijacked in a new and better direction. This is the future that liberals want was a stupid thing to say, and the meme it spawned is stupid, toobut its a gleeful, exuberant kind of stupidity, and, in a small way, it has provided a moment of release. Constant vigilant outrage is not only exhausting, and eventually deflating, but its ill suited to liberal culture, which is suffused with a healthy dose of self-awareness, self-mockery, and even self-loathing. Theres a reason why conservatives control talk radio, with all its grim certitude, and liberals run comedy, which is characterized by, among others things, ambivalence. As Woody Allen, in Annie Hall, said, Dont you see the rest of the country looks upon New York like were left-wing, communist, Jewish, homosexual pornographers? I think of us that way sometimes, and I live here. Donald Trump, meanwhile, is said to find nothing about himself funny at all. That, as much as anything else, is worth resisting.

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Man Arrested For JCC Bomb Threats Was Liberal Journalist Fired For Fabrication – Mediaite

Posted: at 1:41 am

Juan Thompson, the St. Louis native arrested for making bomb threats against Jewish centers, used to writeatleft-wing websiteThe Intercept before being fired for fabrication.

Heres Mediaites report on his firing a year ago.

News website The Interceptissued a mass retraction and correction Tuesday after admitting that one of their writers regularly fabricated sources and impersonated sources with fake Gmail accounts.

An investigation into [Juan Thompson]s reporting turned up three instances in which quotes were attributed to people who said they had not been interviewed. In other instances, quotes were attributed to individuals we could not reach, who could not remember speaking with him, or whose identities could not be confirmed, Editor-in-chiefBetsy Reed announced in a note to readers.

The authorities have not come out and said the two Juan Thompsons are the same, but tweets from the former journalist makes it clear they are. The FBI alleges Thompsonmade the threats in an attempt to frame his ex-girlfriend, while Thompsons tweets suggest the same.

In addition, an article filed shortly after Thompsons firingindicated he was from St. Louis.

UPDATE (11:11 AM ET): The Intercept confirmed in a statement that Thompson is a former employee, and denounced his actions.

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This liberal painfully admits where Donald Trump is getting it right … – MarketWatch

Posted: at 1:41 am

I am a liberal Democrat from Massachusetts and would have voted for George McGovern for president in 1972 if I hadnt been 12 years old at the time. I have never voted for a Republican in my life and most certainly didn't start this past November. I have very little respect for Donald Trump as a businessman and even less for him as a politician. I remain positively mystified about how enough of my fellow Americans in the right combination of Florida, North Carolina, Pennsylvania, Michigan and Wisconsin could have voted for a man so temperamentally and intellectually ill-suited for the job of president of the United States.

But and it pains me to write this as wrongheaded as I think Trump has been about nearly everything he has done in his first five weeks in the Oval Office, there is one huge thing he has been right about: Wall Street.

He is absolutely correct to seek to change the onerous financial regulations that have reigned down on both the big Wall Street banks and the smaller, more local banks in the wake of the 2008 financial crisis. And it is on this foundational, fundamental issue that my like-minded liberals are dead wrong.

Theyd like to impose more regulations on Wall Street. Big mistake. Theyd like to break up the big Wall Street banks, and had even introduced legislation is recent years to do just and that would even more wrong. They have argued that anyone who has ever worked on Wall Street should not be allowed to work in Washington mind-boggling pigheaded and downright discriminatory.

Liberals find every aspect of Trumps policy repugnant, and I get that. He is repugnant. But he is largely right about how to reform finance and Wall Street, whether most liberals care to admit that or not.

Weve got to have a fact-based understanding of what Wall Street is and what it does. Think of it and banks generally as the magnificent engine of capitalism, taking money from people who want to save it or to invest it bank depositors and allocating it at a competitive price to those who want it or need it to start, to grow, or to nurture businesses around the world, and that provide so many of us the jobs and the incomes we need and want to live better, more fulfilling lives. It is the envy of the world, and one that has made the United States the dominant economic power in the past century.

Harvard Business School Professor Clayton Christensen developed the famous "jobs to be done" theory to explain consumer behavior. He talked to MarketWatch about how his jobs-to-be-done theory can also explain Donald Trump's rise to power.

You may think the banks are evil, but I bet you like your iPhone. You probably like your mortgage, your 401(k), your car, your widescreen TV and Facebook too. If you do, you like what Wall Street does, and you should want it to succeed.

But in the wake of the financial crisis, Washington politicians and regulators threw sand into the gears of the beautiful machine. It was an understandable populist reaction to the real pain and suffering that Wall Street, in large part, had caused the American people by packaging up shoddy mortgages and then selling them off around the world as AAA-rated investments, even though many bankers knew that they werent. That was wrong.

That bad behavior should have been prosecuted by Eric Holders Justice Department, but it wasnt, not in a way that gave a measure of satisfaction to the American people that bad behavior wouldn't go unpunished. We needed accountability for the wrongdoing that bankers and traders perpetrated but instead we got market-crushing bureaucracy designed to turn banks into utilities.

But, of course, banks are not utilities, and shouldnt be treated or regulated as ones. Supplying capital to those who want it is not the same as supplying electricity. Banks need to take risks hopefully prudent ones in order to nurture the next Apple, Google, Microsoft or General Electric when they come along. Reducing overly burdensome regulations on banks will get them lending again to the next batch of American companies that have the potential to change the world. Rewarding bankers, traders and executives to take smart risks, while punishing them when they mess up, will also help our economy grow quickly.

Trump is right that there should be an intelligent, well-considered reform of the onerous provisions of the rules and regulations imposed on banks in the wake of the 2008 financial crisis. The Dodd-Frank law, passed in 2010 to re-regulate banks, runs to more than 800 pages and is nearly opaque. More than additional 20,000 pages of rules and regulations have followed in its wake. Most people are clueless about what this mountain of paper requires banks to do. Some of it that which requires higher capital requirements for big banks, less leverage, that derivatives to be traded on exchanges, even the much-maligned Consumer Protection Financial Bureau is worthwhile and should be retained. But much of the law, and its various still-unfulfilled mandates, should be tossed out.

Investors in the equity markets seem to be heartened euphoric even about the overhaul of financial regulation that Trump has promised. Since his unexpected election victory, the Dow Jones Industrial Average has soared, and is now past 21,000, after being stuck around 17,500 for the last years of the Obama administration. More than $2.5 trillion of paper wealth has been created for people invested in the U.S. stock markets.

Whether the upward movement in stocks can be sustained remains to be seen, of course, but at least in this one isolated but highly important aspect reducing regulation on Wall Street the otherwise utterly irresponsible Trump administration is onto something.

Now read: Rex Nutting says Donald Trump and Gary Cohn are wrong in their claims about Dodd-Frank killing the economy

William Cohan is the author of Why Wall Street Matters, published on Feb. 28. Follow him on Twitter @WilliamCohan

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This liberal painfully admits where Donald Trump is getting it right ... - MarketWatch

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The Story Behind That ‘Future That Liberals Want’ Photo – WIRED

Posted: at 1:41 am

Slide: 1 / of 1. Caption: Boubah Barry

Samuel Themer never planned to be a symbol of everything thats right or wrong with America. He just wanted to go to work. But when he hopped on the subwayto head into Manhattan on February 19, the Queens resident was in full draghe performs as Gilda Wabbit. He also ended up sittingnext to a woman in a niqab, a fact he initially didnt even notice. I was just sitting on the train, existing, he says. It didnt seem out of the ordinary that a woman in full modesty garb would sit next to me.

Someone on that W car with them, though, thought otherwise.Boubah Barry, aGuinean immigrant and real estate student, wanted to document what he saw as a testament to tolerance, so he took a photo of the pair andpostedit to Instagram. Its diversity, says Barry, who says he doesnt identify as liberal or conservative but does oppose President Trumps refugee ban. They sit next to each other, and no one cares.

But someone did care. After the post was shared by Instagram account subwaycreatures, the photo driftedacross the internet until /pol/ News Network attached it to a tweet on Wednesday with the message This is the future that liberals want.

/pol/ News Network, which also recently declaredGet Outto be anti-white propaganda,probably intended the post to be a warning about the impending liberal dystopia. But as soon as actual liberals saw it, they flipped the message on its headand began touting the message as exactly the future they wanted. They filled /pol/ News Networks mentions with messages endorsing the photo and adding their own visions of a bright future. By Thursday, it was a full-blown meme. Soon images of a future filled with interspecies companionship, gay space communism, and Garfield flooded onto social media.

As one of the people at the center of the meme, Themer is happy to be a symbol of the far-rightsfear of an inclusive futureand part of the online communitys response to it. I absolutely believe its the future I want, says Themer. I want it to not be a big deal that we sat next to each other, were just being ourselves.

But he also recognizes the danger of using a meme to reinforce an echo chamber, no matter the political bent. The perspectives that are being illustrated by this imageit worries me that the divide is so deep, he says. I dont like when its used just as simple confirmation bias. When two groups use the same image to prove their critiques of the other, it fosters prejudice, rather than conversation. Themer would rather the image prompt a dialogue across the political chasm and get people to see themselves in Barrys photo.

If we can come to have empathy for each other, we can come to a place where we can find common ground and move forward, he says. Thats the goal.

The backlash against the /pol/ News Networks post is a rare display ofa memesredemptive powerits abilityto flip a bigoted statement into one of optimism. Liberal voices have co-opted the image as a way to create a utopian vision lit by the rosy glow of President Beyonc, Never Nude Syndrome, and lots of dogs.

But empathy? Thats a tall order for the internet in 2017. Still, if an opera-singing drag queen from Kentucky, a woman in a niqab, and a Guinean immigrant can come together and coexist peacefully on the W train, it just might be possible for the rest of us.

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The Story Behind That 'Future That Liberals Want' Photo - WIRED

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