“Backing Barack”

The US President wins some heavyweight economic support as Reuben Guttman sees the curtain rise on the International Bar Association’s annual gathering in Dublin, Ireland.  See Reuben Guttman’s October 1, 2012 blog in The European Lawyer.

The International Bar Association opened its annual convention with keynote speaker and Nobel Prize winning economics professor Joseph Stiglitz announcing his support for the re-election of US President Barack Obama.

Speaking before several thousand attorneys from across the globe, Prof Stieglitz called for additional regulation of the banking and financial services sectors. ‘The first fiscal stimulus worked but it was too small,’ he told delegates. ‘We need another; we cannot afford not to do another stimulus.’

No choice

Prof Stiglitz’s support for Obama came as a surprise response to a question from a British lawyer. ‘Clearly Obama is better,’ he said. ‘When compared to the alternative there is no choice.’ But Prof Stiglitz also said that Mr Obama could have done ‘more with the restructuring of home mortgages’.
The Nobel Prize winner went on to compare the conduct of the banks to gambling, which is why ‘regulation is so important’.
A recent New York Times comment article — co-authored by Prof Stiglitz and economist Mark Zandi — noted that the president’s housing policies have ‘fallen short’ but that ‘Mitt Romney hasn’t offered any meaningful new proposals to aid distressed or underwater homeowners’.
Here in Dublin, when pressed, he made his ultimate political choice clear.

Political gridlock

While Prof Stiglitz urged more regulation, he expressed concern that political gridlock may preclude timely government intervention. ‘People say they believe in free markets but one person’s freedom is the right not to be injured by others,’ said Prof Stiglitz.

He continued by commenting that the ‘disparity in income brought about by the economic crisis means that there will be a disparity in political clout’. And he urged IBA members to respond by making sure that there will always be access to justice for those without the economic means.

It was a particularly intriguing observation given the controversy caused by the US Supreme Court’s 2010 ruling in Citizens United v Federal Elections Commission, which expanded the rights of corporations to make independent expenditures to influence the outcome of federal elections. The 2012 election marks the first test of that judgment on a US presidential race.

http://www.globallegalpost.com/blogs/commentary/backing-barack-91190962/

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Changing the Debate

CHARLOTTE, NC — Twenty-eight years ago, then New York Governor Mario Cuomo gave a keynote address to the Democratic National Convention in San Francisco with a speech that will be remembered for the ages. But that speech, which focused on the demise of an industrial economy, was built on passion and emotion.

Last night, Former President Bill Clinton gave a speech to delegates that will be remembered for the ages, but for different reasons. It was a speech based on facts and logic. It was a speech which established protocols for how voters should think about the issues. It was also a tactical speech that counseled voters on how they should evaluate the Romney message which will be delivered not door-to-door but over the airwaves. It was Bill Clinton at his best; he didn’t just speak — he taught.

For those seeking to make an argument in an era of hyperbole, the Clinton speech — indeed perhaps a closing argument — is a lesson in how to organize facts and raise questions. It is a lesson for whistleblowers – a lesson for those who are sometimes caught up by emotion and argue passion rather than logic.

It’s all about Ohio

CHARLOTTE, NC — Inside the Democratic National Convention here it is all about winning voters in the State of Ohio. Democratic strategists now believe that if President Obama does not carry the State of Florida, Ohio is a must-win state. While Democratic leaders are guardedly optimistic about Obama’s chances in this rust belt state, they are taking no chances.

While the focus of the presidential race has been on healthcare, the Obama people refocused the debate last night beginning with a speech by former Ohio Governor Ted Strickland who reminded the packed house at Charlotte’s Time Warner Center that a billion dollar bailout by the Obama administration saved the US auto industry. The Democrats only hope that the Republicans challenge them on the wisdom of the bailout as the return of General Motors as a viable entity and the saving of thousands of US jobs is evidence that the bailout was a success. Democrats here believe this is a debate they will win.

Though the bailout meant job preservation, only once during the entire evening was the word “union” mentioned. That reference came during a speech by Massachusetts Governor Deval Patrick. There is a diminished union presence at this convention which sets it apart from those in Denver and Boston.

Tonight Bill Clinton takes the podium in day three.

Democratic Convention Update

Reuben Guttman at Democratic National ConventionCHARLOTTE, NC — Inside the Democratic National Convention, the Obama campaign finally picked a mid-west issue that may make a difference in the presidential election campaign. Starting with former Ohio Governor, Ted Strickland, a parade of speakers hammered on the auto industry rescue as a single accomplishment that will be hard for the Republicans to challenge as unsuccessful.

With the Republicans attacking Obamacare, Democrats needed to find something that was an undisputed success. With the Ohio vote in the balance, the auto industry rescue was made a focal point of day one at the Democratic convention. To make the point, the convention planners called upon former Ohio Governor Strickland; although he lost his bid for re-election, he is beloved in Ohio where he also served as a Congressman.

Finding undisputed success stories was the key to day one as Massachusetts Governor Deval Patrick reminded delegates of the end of the Iraq war and the elimination of Bin Laden as accomplishments of the current administration.

It was indeed a well choreographed event with the swing state delegations seated in front of the cameras. The states not up for grabs, including California, were seated to the rear of the convention, behind the battery of cameras that were directly in front of the stage.

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