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The Big Story Defense Secretary Leon Panetta has promised Afghanistan President Hamid Karzai a full investigation of an Internet video that purports to depict four U.S. Marines urinating on the corpses of Taliban fighters -- a video both men condemned Thursday. "I have seen the footage, and I find the behavior depicted in it utterly deplorable. I condemn it in the strongest possible terms," Panetta's statement said. "Those found to have engaged in such conduct will be held accountable to the fullest extent." READ MORE | |
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My Front Pages, By Joe Conason When Newt Gingrich and Mitt Romney aren't attacking each other for "vulture capitalism" and "bitter envy," they often deliver sonorous warnings that the Obama administration is driving us toward national insolvency -- that we will soon face the same fate as Greece or Italy. But the Republican candidates never mention a fundamental cause of the fiscal crises in Greece and Italy when proffering false comparisons with the United States: the impressive levels of tax evasion and underground economic activity in those crippled economies. In fact if anybody is pushing the United States toward fiscal disaster, it is Republicans in Congress who insist on slashing the budget of the Internal Revenue Service. Tax evasion -- rampant among the one percent, by the way, both here and in Europe -- costs the Treasury around $400 billion a year, or more than one-sixth of the $2.3 trillion that the IRS collected in 2011. READ MORE | |
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Featured Column: Jeff Madrick The annual convention of economists and other social scientists is always difficult to get a handle on. It is large and unwieldy, with hundreds of panels and forums. I was in Chicago for this year's pageant, and despite its many different moving parts, one thing rarely changes: Economists' conclusions remain almost completely predictable. READ MORE | |
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Supervillains The blockbuster sequel to one of 2008's most successful movies is about to collide with the blockbuster sequel to one of 2008's least successful presidential campaigns. Christopher Nolan's "The Dark Knight Rises," the final movie in his Batman trilogy, will hit theaters on July 19 -- and if Mitt Romney wins the Republican nomination, he may well be dogged by uncomfortable comparisons between his business record and Nolan's script. For starters, the movie's clinically brutal villain is named "Bane," which sounds exactly like the hyper-efficient cost-cutting private equity firm that Romney founded. READ MORE | |
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Featured Column: Connie Schultz We all have heard the admonishment that polite people never discuss politics or religion at the dinner table. Forgive me, but that sounds like a big part of the problem right now in America. READ MORE | |
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Featured Column: Jonathan Weil There's a simple explanation for why the world's zombie banks remain so reluctant to write off worthless assets and tap the equity markets for fresh capital. They don't want to end up like the Italian bank UniCredit SpA. It seems no good deed goes unpunished when it comes to lenders besieged by Europe's debt crisis. A little bit of candor about the true state of a company's finances can hurt a lot. READ MORE | |
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Bain Capital "When Mitt Romney Came To Town," the harsh Romney-bashing film funded by the pro-Newt Gingrich Super PAC Winning Our Future, can now be seen online. Watching nearly half an hour of non-stop attacks on Romney's record as a Bain Capital corporate raider may be challenging, so The National Memo has spared you the time by compiling a list of recurring themes and significant figures from the ad: READ MORE | |
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