Book of the Year to 3/31: IOU: Why everybody owes everybody and no one can pay

Cover via Amazon

If you want to understand why the City of Salem's budget is collapsing faster than a Minnesota freeway bridge -- and to get a really good, crisp, clear and even witty education in the arcana of collateralized debt obligations, credit default swaps, and all the other mumbo jumbo terms that you've heard about -- you can not possibly do better than with John Lanchester's excellent book.

Lanchester does an outstanding job revealing the complete intellectual bankruptcy of economics, which has been taken over by the kind borderline autism that we associate with pimply teens just discovering Dungeons and Dragons, Lord of the Rings, and Ayn Rand ... who makes a footnote appearance as a Charlie's Angels devotee in IOU.

This is a great book for the person who is allergic to financial stories, because he keeps bringing it back to how and why people in places like Salem are going to suffer for the sins of the SOBs, and how taking trillions of dollars from the victims of skullduggery and giving it to the crooks who victimized the rest of us in the first place came to be thought necessary, for example.

Publisher Comments:

Part economic primer, part fiscal and historical analysis, New Yorker and London Review of Books contributor John Lanchester offers his brilliantly witty, succinct overview of the current financial crisis.

For most people, the reasons for the sudden collapse of our economy remain obscure. I.O.U. is the story of how we came to experience such a complete and devastating financial implosion, and how the decisions and actions of a select group of individuals had profound consequences for America, Europe, and the global economy overall. John Lanchester begins with The ATM Moment, that seemingly magical proliferation of cheap credit that led to an explosion of lending, and then deftly outlines the global and local landscapes of banking and finance. Viewing the crisis through the lens of politics, culture, and contemporary history — from the invention and widespread misuse of financial instruments to the culpability of subprime mortgages — Lanchester draws perceptive conclusions on the limitations of financial and governmental regulation, capitalism's deepest flaw, and, most important, on the plain and simple facts of human nature where cash is concerned.

Weaving together firsthand research and superbly written reportage, Lanchester delivers a shrewd perspective and a digestible, comprehensive analysis that connects the dots for the expert and casual reader alike. I.O.U. is an eye-opener of a book — it may well provoke anger, amazement, or rueful disbelief — and, as the author clearly reveals, we've only just begun to get ourselves back on track.

Review:

"With clarity and a conversational style often (sometimes deliberately) lacking in the financial industry and its coverage, British journalist Lanchester (The Debt to Pleasure) takes readers on a comprehensive global tour of 2008's economic meltdown, focusing on each guilty parties' contributions to-and missed opportunities to halt-the worldwide crisis. Starting with the political buildup and then marching through the field of 'banksters,' regulators, mortgage companies and everyone else in a position to know better, Lanchester illustrates exactly how loans from predatory and incompetent players wound up being sold as triple-A investments, and how a subsequent housing market dip toppled the financial system. By prioritizing the financial sector and tenets of laissez-faire capitalism (to the point that it 'became a kind of secular religion'), those in charge of the markets failed to identify the growing systemic dangers; meanwhile, those responsible to the public acted as if benefits for financial institutions also benefited every economic participant, no matter how small. Laypeople seeking to understand the crisis, and what it means for their own bank account, will find Lanchester's volume an oasis of understanding in a sea of partisan spin and convoluted financial language." Publishers Weekly (Starred Review) (Copyright Reed Business Information, Inc.)

Bravo! Attack on prison gerrymandering that hurts urban areas

http://prisonlaw.wordpress.com/2010/03/30/second-grader-tests-limits-of-rhode-islands-prison-based-gerrymandering-policy/

The tip of an iceberg we'll be seeing a lot more of

Image via Wikipedia

As the carburban development model becomes increasingly harder to duct-tape together, it's going to drive (ho ho!) lots more cuts like this. Cars are the elephant in the living room--the huge expense that no one ever talks about and that consume so much of our wealth that we feed them whole other programs.

To Whom it may Concern:

The City of Salem has to make cuts in funding, due to the bad economic times. They feel the neighborhood and community parks of Salem is the place to make most of the cut backs by laying off FOUR permanent park maintenance operators from an already skeleton crew of workers. We can barely keep our heads above water as it stands. Once these positions are eliminated, the parks will be severely undermanned for maintenance. Their intentions are to use inmates from state corrections and part time summer seasonal help. If the communities of Salem want to keep our parks safe, usable and in good appearance, we won't let this happen. We believe there are other options to find funding for our parks. In past years the city council has found a way to keep our parks department staffed just enough to keep our parks a place the people of Salem and visitors can use and feel safe in and be proud of. If you have concerns for our parks, please pass the word on to everyone you know and make your voice known. There is a city council meeting that the community is invited to on Wednesday, March 31st at 7:00pm. It is at the Wallace Rd Roths Grocery store in the conference room. If you can not make it, please e-mail your city counsel members with any questions and concerns. You may also email me for information or questions.

Thank You
Rick Rue
City of Salem Parks

An enlightening nascent blog from Doug Parrow

Image by kk+ via Flickr

Doug Parrow is one of our unsung Salem advocates for a saner, better transportation system. He has a blog that he describes as "nascent" and he comments on that thusly:

One definition of nascent is "just coming into existence and beginning to display signs of future potential." Certainly the blog is consistent with the first part of that definition. Time will tell whether that also is the case with respect to the second part of the definition.

If a few of the posts are up to the standard he sets here then it's already shown and delivered on some great potential.

Another must-see from Salem Progressive Film Series

Salem Progressive Film Series

Thursday, April 8, 2010, 7 p.m.
Grand Theatre-191 High Street NE, Salem (corner of Court and High St)

Secrecy

This film is about the vast, invisible world of government secrecy. By focusing on classified secrets and the government’s ability to put information out of sight if it would harm national security, this film explores the tensions between our safety as a nation, and our ability to function as a democracy. Secrecy can throw into the dark our system of justice and derail the balance of power between the executive branch and the rest of government. And we have learned that under the veil of classification, even our leaders can give in to dangerous impulses.

Guest Speaker: Steven T. Wax, Federal Public Defender for the District of Oregon

Mr. Wax represented Portland attorney Brandon Mayfield, who was accused of bombing the communter train in Spain in 2001. And Mr. Wax represented men held as "enemy combatants' in Guantanamo.

For more information:
www.salemprogressfilms.net or 503-385-1876 or 503-779-5288

Unsolicited Plug 2010-2: 13th St. Nursery

Salem has a wonderful close-to-downtown nursery just a block east of the Habitat for Humanity Re-Store: The 13th St. Nursery at 13th & Wilbur. The nursery is a wonderful place and with the Re-Store right there, you've got yourself a happy Saturday afternoon of treasure hunting.

A number of their plant starts and some gorgeous raku plant pots (for bamboo) are making their way to LOVESalem HQ this year, and they've got a number of really nice garden art things that would be here if we could afford as much beauty as we'd like. Check it out.

UPDATE: The brains at LOVESalem HQ (she provides the brains; my role is to have a strong back to go with the weak mind) picked out some lovely cold-hardy gardenias, star jasmines, and daphnes today in the rain today. Somehow fitting to pick plants for Salem in a nice afternoon rain.

Wonderful new gleaners group: Neighborhood Harvest of Salem

Neighborhood Harvest of Salem welcomes you!

You are invited to join a new community organization, Neighborhood Harvest.

Our volunteers gather unused fruit from Salem’s backyards, share the bounty with families who are hungry, and take home free produce, grown right here. We seek to create community and strengthen neighborhood friendships, alleviate hunger, create awareness of our abundant edible landscapes, and promote sustainable lifestyles.

We are affiliated with Friends of Salem Saturday Market and linked to Marion-Polk Food Share through donations of produce.

Urban foraging is part of a growing movement that connects unused backyard fruit trees with people who have the time and energy to harvest them.

The basic idea is simple: Home owners register trees, vines or berry bushes that produce more fresh fruit than they can use. Volunteers join harvest parties to gather the fruit that might otherwise drop to the ground. We deliver half of each harvest to neighborhood food pantries affiliated with the Food Share, and harvesters take home the other half for their pantries.

Harvest parties begin in July with the cherry season, but for now we are seeking energetic, responsible volunteers. Sign up to be a harvest leader, neighborhood coordinator or site scout. We’ll show you how to organize a fruit-picking adventure while meeting neighbors and new friends.

To volunteer, contact Katherine.

Register your tree, vine or berry bush using our online form, or contact Dick.

For information visit our website or contact Lisa.

Free tour: the parts of the Library you normally don't get to see

Image by Jason McHuff via Flickr

Libraries are one of the most, if not the most, important civic offerings there are. Salem's impoverished library system is still a gem, albeit a very tiny one that's hard for most people to access and that offers very scant and limited hours. With all the vacant commercial space in Salem, every single one of Salem's 19 neighborhoods should have a library or library outpost where people can access library materials and offerings at least 84 hours a week. Alas, we're nowhere near that yet. But part of the reason is that not enough people know what libraries do or how they work. You can rectify that next month:

Public invited for Behind-the-Scenes tours at Salem Public Library

There’s more going on than meets the eye at Salem Public Library. Curious visitors have the chance to find out exactly what this is during National Library Week when Salem Public Library staff offers three Behind-the-Scenes tours at the Central Library.

Guided tours will begin at the Information/Reference Desk at:

10:30 a.m. Thursday, April 15
4 p.m. Friday, April 16
2 p.m. Saturday, April 17

The one-hour tours are designed to give visitors a look at how books and other materials are handled from purchase to preparation, the processes behind holds, check out, check in, and reshelving, and to share insights about library services, programs, and the facility. There will be plenty of time for questions and answers along the way.

Space is limited, so interested members of the public are asked to pre-register at the Information/Reference Desk in person or by phone at 503-588-6052.

FOR MORE INFORMATION, CONTACT: Sonja Somerville, Salem Public Library Community Relations Coordinator, (503) 588-6083, ssomerville@cityofsalem.net

Speaking of the library: Got overdue fines?

Sunday, March 28-Saturday, April 3 only, both Salem Public Library locations will forgive fines for customers who bring in donations of non-perishable food items and other household necessities for donation to Marion-Polk Food Share.

Food donations are accepted during all open hours at the Central Library, 585 Liberty St. SE, and at the West Salem Branch, 395 Glen Creek Rd. NW. Hours and information are available at www.salemlibrary.org.

A $1 credit will be applied for canned items 12 ounces or larger. This applies to fines due only and does not include lost book charges, rental fees, video/DVD fees, collection fees, or fee cards. Donors are particularly encouraged to consider these high-need items:

· Soup (canned or dry)
· Chili
· Cereal
· Tuna
· Beans (canned or dry)
· Juice (canned or bottled)
· Canned fruit
· Canned vegetables
· Pasta sauce
· Pasta products (20+ ounces)
· Rice (20+ ounces)
·
A greater credit of $3-5 will be given for these larger high-need items:

· Laundry detergent
· Laundry softener
· Cooking oil
· Peanut butter (8+ ounces)

To be used, items must be factory-sealed, commercially processed, dent and rust free, and bear a future expiration date. Top Ramen products cannot be accepted.

The need at Marion-Polk Food Share is particularly high this year. Community members are encouraged to take advantage of this opportunity. Food donations will also be gratefully accepted from those not owing fines, but simply wanting to help build needed supplies at Marion-Polk Food Share.

More information is available from the Library’s Circulation Division at 503-588-6090.

Concerned about water? You should be. Pay attention.

Image via Wikipedia

The good folks at Onward Oregon sent out a notice about some important water resources planning workshops coming up. The one in Salem is on Tuesday, June 8, at Oregon Department of Fish and Wildlife Office, 3406 Cherry Avenue, N.E.

All open houses are from 4:00 PM to 7:00 PM
The program begins at 4:00 p.m. with a project overview and discussion and repeats again at 5:30 p.m.

Help Plan Oregon's Water Resources

Available water supplies have diminished across the West, and increased population and development are creating greater demand. Meanwhile, Oregon has been one of the few States without an integrated water strategy. Until now.

In the last session, the legislature passed the Water Investment Act (HB 3369), which includes a plan to make a plan — that is, the bill directs the Water Resource Department to develop a water strategy.

To inform that strategy, the Department is hosting ten Open Houses around Oregon to hear from you. We urge you to make your voice heard. The Department needs to hear that you are (choose one or more) concerned about

1. growing water demand,
   
2. protection of aquifers,
   
3. maximizing public value from state investment,
   
4. stream quality,
   
5. irrigation,
   
6. water supplies,
   
7. global weirding/climate change,
   
8. in-stream flows, or
   
9. something else.

You can find the schedule at: Preliminary Workplan.

Citizen responses helped pass the original bill. Now make sure that Water Resources Strategy is responsive to the people of the state.

Times and locations are available at Background Documents.

Water is our most important resource. Let’s make sure we plan smartly and for the public benefit.

Onward,
The Team at Onward Oregon
www.OnwardOregon.org

A poignant story: the $618k death

http://www.oregonlive.com/opinion/index.ssf/2010/03/lessons_of_a_618616_death.html