There is an old joke about media bias that goes something like this: God told three reporters at three different newspapers that the world was about to end. The next day, three different headlines appeared. The Wall Street Journal wrote, "World to End Tomorrow; Markets to Close Early," USA Today's said "IT'S OVER!" and the New York Times had, "World to End; Women and Minorities hardest hit."A story in today's Times makes us wonder if the last headline should be amended to "women, minorities and artists." The story focuses on firms like Art Capital Group, an elegant pawn shop by another name, that lends money against fine artwork. Last year, the Times says, photographer Annie Leibovitz borrowed $15.5 million from Art Capital Group. As collateral, she put up three townhouses in Greenwich Village, a country home in upstate New York and, here's the twist, the rights to every photograph she has ever taken or ever will.
The piece is kind of interesting from a business perspective, calling to mind to old salt that a financier is just a pawnbroker with imagination. But it's also annoying that the story is presented in the same somber, end-of-the-world tones as the front-page economic news. It's a shame that Leibovitz can't afford her own life and all, but the woes of a high-priced celebrity photographer who apparently tries to live like the stars she photographs isn't exactly tops on our list of concerns.
David Brooks, one of the Times' token conservatives, hopes that Obama's sweeping changes to government will prove conservatism wrong. The 20th century, he says, is littered with "social-engineering projects executed by well-intentioned people that began well and ended badly." Like, welfare policies that "had the unintended effect of weakening families" and development programs that "left a string of white elephant projects across the world." Brooks thinks the Obama administration, still trying to figure out how the White House phone system works, has bitten off more than it can collectively chew. But, patriotic, he still wakes up every day hoping to be proved wrong.
Assemblyman Tom Ammiano argues that it's time to tax and regulate weed just like alcohol. The assemblyman from (of course) San Francisco announced legislation Monday that would make California the first state to tax and regulate marijuana in the same manner as alcohol. Ammiano's measure, AB 390, would essentially replicate the regulatory structure used for beer, wine and hard liquor, with taxed sales barred to anyone under 21.
By some estimates, California's pot crop is a $14-billion industry, putting it above vegetables and grapes. That could mean upward of $1 billion in tax revenue for the state each year. Not to mention the amount of money saved by not chasing, prosecuting and jailing marijuana offenders. Oh wait, we just mentioned it.
Ammiano claims the measure will boost public safety, keeping law enforcement focused on more serious crimes. Duh. he also says the environment would benefit from the uprooting of environmentally destructive backcountry pot farms that denude fragile ecosystems, which is something, frankly, that never occurred to us. One more reason to say yes.
