President Eisenhower on American Pride

President Eisenhower, speech, November 23, 1953:

Why are we proud? We are proud, first of all, because from the beginning of this Nation, a man can walk upright, no matter who he is, or who she is. He can walk upright and meet his friend--or his enemy; and he does not fear that because that enemy may be in a position of great power that he can be suddenly thrown in jail to rot there without charges and with no recourse to justice. We have the habeas corpus act, and we respect it...

It was: meet anyone face to face with whom you disagree. You could not sneak up on him from behind, or do any damage to him, without suffering the penalty of an outraged citizenry. If you met him face to face and took the same risks he did, you could get away with almost anything, as long as the bullet was in the front...In this country, if someone dislikes you, or accuses you, he must come up in front. He cannot hide behind the shadow. He cannot assassinate you or your character from behind, without suffering the penalties an outraged citizenry will impose.

Ladies and gentlemen, the things that make us proud to be Americans are of the soul and of the spirit. They are not the jewels we wear, or the furs we buy, the houses we live in, the standard of living, even, that we have. All these things are wonderful to the esthetic and to the physical senses.

But let us never forget that the deep things that are American are the soul and the spirit.

Full speech here.  Bonus: http://www.eisenhowermemorial.org/  

CA Chief Justice George on our Justice System

Chief Justice George, as quoted in California Litigation, Vol. 20, No 1 (Kenneth Babcock, 2007):

The availability of affordable legal assistance even for the middle class is often an illusion, and access to legal assistance for those at the bottom of the economic ladder too frequently is viewed as a luxury totally out of reach. As a result, individuals facing crises that may affect everything from their ability to earn a livelihood to their right to care for their children find themselves required to navigate a legal system that largely is designed for and by specialists in the field--lawyers and judges--or even worse, to stand outside the system, ignorant of or intimidated by the first steps they need to take to avail themselves of its services.

In my humble opinion, more laws do not generally help poor people, because poor people need more money, and more rights do not always or necessarily translate into more money.

[Note on June 22, 2012: to keep things fresh on the home page, I've manually changed the date of this blog post.] 

Judge Wilkinson on America

One of the best articles ever written on any subject is by J. Harvie Wilkinson III, "Toward One America: a Vision in Law." (The Green Bag Almanac and Reader, published 2009; see also 83 NYU Law Review 323)

A 4th Circuit judge laments America's growing divisiveness and presents seven solutions. I'm not going to go into all seven recommendations, but here are some of my favorite parts of the article:

On perspective:

We judges are as a class bereft of acquaintance with the variegated and pluralistic country that we serve.

On the much maligned overreach of the commerce clause:

The silent commerce clause is an indispensable ingredient of national unity.

On community:

Let's restore a constitutional respect for community. It is futile to expect a healthy nation in the absence of a healthy community. Community instills within us the sense that we live for something larger and more meaningful than just ourselves...Communities are built around shared purposes and values, one of which is surely a respect and appreciation for individual rights. But there must likewise be the sense that individuals contribute to, as well as take from, this larger whole of which we as single persons are but parts. To enshrine a sanctity of self in our founding charter without textual or historical warrant may be just as pernicious as the attempt to enshrine the discrimination against those whose personal choices may for good and legitimate reason fail to conform to the majority's own. On many of the great questions of the day, our Constitution is consciously agnostic. Its enumeration of rights is significant, but finite. Its grant of powers to representative government is formidable, but it does not prescribe what substantive ends the exercise of those powers must embody. To bend our Constitution in the direction of autonomy or collectivity is detrimental to our national health.

On polarization:

The search for One America requires less polarization, but not necessarily less partisanship. The two must be distinguished... Partisanship is more of a mixed bag. It can easily proceed too far, but it can also promote vigorous debate and frame electoral choices.

If you get a chance, do look up the full article. Required reading for every American.

Abraham Lincoln on Honest Lawyers

"Let no young man choosing the law for a calling for a moment yield to the vague popular belief that lawyers are necessarily dishonest. Resolve to be honest in all events; and if, in your own judgment, you cannot be an honest lawyer, resolve to be honest without being a lawyer. Choose some other occupation." -- Abraham Lincoln

Bonus: from Edward Murrow: "He was one of those civilized individuals who did not insist upon agreement with his political principles as a pre-condition for conversation or friendship."

Robert Frost's Epitaph

Found an old book of Robert Frost poems: "And if an epitaph be my story, I'd have a short one ready for my own: I had a lover's quarrel with the world."

A Poem in San Jose

The poem below--one of the most beautiful I've ever read--is inscribed in a piece of art in downtown San Jose. If you are ever in downtown San Jose and want to see the poem, go to the Fairmont Hotel on South First Street. It is inscribed on a medium-sized, industrial-looking tableau between the Fairmont Hotel and Bijan's Bakery.

Could be

I only sang because the lonely road was long;

and now the road and I are gone

but not the song.

I only spoke the verse to pay for borrowed time:

and now the clock and I are broken

but not the rhyme.

Possibly,

the self not being fundamental,

eternity

breathes only on the incidental.

—Ernesto Galarza, 1905-1984

Will Government Pensions Need Bailouts?

According to PLI's news capsules,

State pensions are recovering as the stock market improves, but they still have a long road to financial health, says a recent report. State pension systems had a funding ratio of about 69% for fiscal 2010, an increase from the previous year's ratio of 65%, reports Wilshire Associates. Still, that's not near 2007's estimated average funding ratio of 95%. "The trajectory is up, albeit it's up off a pretty low base," said Steven Foresti, managing director at Wilshire. (From WSJ, March 7, 2011, by Jeannette Neumann)

Here's what really interesting: "Over the next decade, Wilshire projects public pension plans will have a median annual return on their assets of 6.5%." If major pension/hedge funds are predicting just 6.5%, it will be interesting to see the average return for non-institutional investors. Remember: to the extent these government pension funds fail to fully fund themselves, the taxpayer is on the hook for all payouts.