Opinion, WSJ September 26, 2008
By JOHN PAULSON
The Treasury plan to buy illiquid financial assets has been widely criticized as being unfair to taxpayers, who will have to bear losses ahead of shareholders of the institutions that will be bailed out.
There is a better alternative to stabilize the markets: Invest the $700 billion of taxpayer money in senior preferred stock of the troubled financial institutions that pose systemic risks. Let's call this the "Preferred plan." In fact, it is the Fannie Mae and Freddie Mac model -- which the Treasury Department has already endorsed and used in practice. It is also the approach Warren Buffett used for his investment in Goldman Sachs.
Botched Paramilitary Police Raids: An Epidemic of "Isolated Incidents"
"If a widespread pattern of [knock-and-announce] violations were shown . . . there would be reason for grave concern." —Supreme Court Justice Anthony Kennedy, in Hudson v. Michigan, June 15, 2006. An interactive map of botched SWAT and paramilitary police raids, released in conjunction with the Cato policy paper "Overkill: The Rise of Paramilitary Police Raids," by Radley Balko. What does this map mean? How to use this map View Original Map and Database
The proliferation of SWAT teams, police militarization, and the Drug War have given rise to a dramatic increase in the number of "no-knock" or "quick-knock" raids on suspected drug offenders. Because these raids are often conducted based on tips from notoriously unreliable confidential informants, police sometimes conduct SWAT-style raids on the wrong home, or on the homes of nonviolent, misdemeanor drug users. Such highly-volatile, overly confrontational tactics are bad enough when no one is hurt -- it's difficult to imagine the terror an innocent suspect or family faces when a SWAT team mistakenly breaks down their door in the middle of the night.
But even more disturbing are the number of times such "wrong door" raids unnecessarily lead to the injury or death of suspects, bystanders, and police officers. Defenders of SWAT teams and paramilitary tactics say such incidents are isolated and rare. The map above aims to refute that notion.
|Death of an innocent.||Death or injury of a police officer.||Death of a nonviolent offender.|
|Raid on an innocent suspect.||Other examples of paramilitary police excess.||Unnecessary raids on doctors and sick people.|
- ► 2012 (87)
- ► 2011 (330)
- ► 2010 (174)
- ► 2009 (179)
- The politicos who wrote the rules that caused the...
- The Public Deserves a Better Deal
- Retirement benefits for county workers out of cont...
- Sarah Palin just gets better the more she is revea...
- Talk about lipstick on a pig, here's Obama's Unive...
- From the WSJ letters to the editor 9-10-08: A Qui...
- S.C. Dem Chair's remark reinforces the contempt fo...
- Barracuda Sarah is such a threat to the leftist li...
- Martha Montelongo Radio Show premieres Sept 13th, ...
- ▼ September (9)