​Note: I will be talking about my most recent book, Eminent Riparians: Biographical Sketches of Finger Lakes Luminaries and Leading Lights, at the Little Lakes Community Center in Hemlock, New York, on July 10 at 7:00 PM. If you are in the area, come on by.
 
 
The unmitigated disaster of Joe Biden’s performance was evident less than 30 seconds into last night’s debate. A President who had only to meet the lowest bar ever posited for a candidate debate could not do it. The first indicator was his voice. OK, so he had a cold. His vocalization is not exactly strong and resonant when he is healthy. It was painful to watch. He should at least been given some lozenges and tea by his staff before coming on stage.
 
But his cold was only the beginning of this Titanic of a disaster. When he wasn’t speaking, and the camera focused on him, he looked like a deer caught in the headlights—slack-jawed, a blank stare, Methuselaic. Frail, feeble and confused is not a good look for someone who wants to tackle the world’s toughest job, a daunting task at any age. Biden appeared even older than his 81 years, while Trump appeared younger than 78. The Orange Menace is a consummate (expletive), but comes across as a vigorous (expletive).
 
No matter that his unworthy opponent lied every time he opened his mouth. The vast majority of voters who tuned in likely don’t realize that. Moreover, they got no help from the CNN debate moderators, who never bothered to fact-check the Great Falsifier. By lamely thanking the prevaricator for his responses and moving on to the next question, they left the impression that the outrageous BS he spouted was acceptable. They were guilty of tacit endorsement of Trump’s smears, deceits and libels. Also, note that it took Tapper and Bash 45 minutes to get to a question about a convicted felon who tried to overthrow the government! There was a desperate need for performance-enhancing drugs all around.
 
All of Biden’s detailed, well-documented preparation for this big moment was for naught. He blew the opportunity and may well have blown democracy and the rule of law for all of us. I don’t think that after this debacle, he can recover. I fear he is destined to lose this election and take down the rest of the Democratic Party’s candidates with him. I don’t envision any possibility of rehabilitation after last night’s dismal performance.
 
The only hope is that he will drop out of the race (I have been calling for him to take satisfaction in his accomplishments and move on for what seems like an eternity) and be replaced by someone from the deep Democratic bench who can give the Mango Molester a serious challenge: Gretchen Whitmer, Josh Shapiro, Wes Moore, Raphael Warnock perhaps?
 
There is too much at stake to allow this to continue. Sadly, it’s time to go, Joe.
 
Dick Hermann
June 28, 2024

​I received a recent credit card promotion touting the following offers: 0 percent Annual Percentage Rate for 12 months; 28.49 percent APR thereafter for balance transfers. 0 percent for 12 months; 29.99 percent variable APR thereafter for cash advances.
 
If this strikes you as usurious highway robbery one step short of loansharking, it’s because it is.
 
Unfortunately, there is no federal law (however, see below) that sets maximum interest rates on all consumer loans. To the extent rates are capped, they are restricted at the state level. The first U.S. usury laws date back to the 18th century when interest rates on loans were limited to a maximum of 6 percent. Some of these laws are still in effect today. However, exceptions have been carved out by state legislatures for payday loans, credit cards, auto loans and more, many big enough to render the concept of usury ludicrous. Most states have exempted banks from their lending laws in order to entice them to set up shop there. Online installment lenders are also exempt from most state lending laws and are allowed to charge rates as high as triple digits. Six states allow interest rates of more than 100 percent. Mississippi, the worst offender of the usury concept, sets its APR rate cap at just over 300 percent. This is not a typo.
 
Many states have different rate limits for different types of loans depending on the amount and duration of the loan.
 
The Military Lending Act is the only federal law that governs lending rates. It sets the cap at 36 percent APR for active duty military members and their dependents. The law supersedes all state lending laws. Consumer advocacy groups such as the National Consumer Law Center (NCLC) and the Center for Responsible Lending (CRL) advocate that the 36 percent rate cap should be made applicable to all consumers. While a feeble first step in reining in usury, it would make payday and other high-cost lending nationwide moderately more palatable.
 
What makes even such a modest reform unlikely is the relative lobbying clout (translation: limited resources) of consumer organizations vs. the massive amounts of money lenders devote to lining the pockets of congressional and state legislative members. The financial sector is far and away the largest source of campaign contributions to federal and state candidates and political parties. No other industry comes close. In the current campaign cycle (2023-24), the top ten financial sector donors alone have thus far showered federal candidates with $320,551,000. In the prior election cycle, the total amount of largesse flowing from banks, payday lenders, credit card companies et al. to federal politicians exceeded $1 billion for the first time. (per Open Secrets). It is destined to go way beyond that this go-round.
 
Historically, usury used to be a bad word and even worse deed. Both the Old Testament and the Koran condemned it. Interestingly, the overwhelming bulk of campaign contributions from the pro-loansharking crowd find their way into Republican pockets, including those who claim that they live by the Bible.
 
America is hardly unique in legalizing what by any definition amounts to corruption. The difference here, as opposed to other purported rule-of-law countries, is that our representatives have made it into a high art. Small wonder people like Sen. Bob Menendez (D-NJ) think nothing of stashing (allegedly) ill-gotten gold bars around their houses. Small wonder that so many people feel that “the system” is rigged against them. It is.
 
Dick Hermann
June 16, 2024

​“We could very well have a sitting president under felony indictment and ultimately a criminal trial,…It would grind government to a halt….It would create a constitutional crisis….She [Hillary Clinton] has no right to be running, you know that. No right.”
-- Donald Trump, November 5, 2016, at a campaign rally in Reno, Nevada
 
Hmmmm.
 
Now that Donald Trump, the felonious former president/criminal presumptive Republican nominee, has finally been brought to account after decades of flouting both the law and common decency, here are some takeaways from this unprecedented event:
 
Character Counts. It certainly did for the Founding Fathers. The notion that an absolute scoundrel could ascend to high office was totally absent from their experience and their core assumptions. This should never have happened and likely would not have had Trump not paid off Ms. Daniels for her silence nor urged David Pecker and his scandal sheets to play “catch-and-kill.” Tragically, despite Trump being a convicted felon, this could happen again.
 
Competitive Sycophancy.  It is nauseating to watch the spineless doormats and jerk chickens who comprise today’s Republican political class push to be first in front of the cameras in order to bend their knee to kiss Trump’s ring—or whatever—following his conviction. History surely will not treat these sorry excuses for leaders with any sympathy. Neither should their constituents.
 
Attorneys Should Know Better. The American Bar Association’s Rules of Professional Responsibility are quite clear that, as officers of the court, attorneys must respect and uphold the system of justice and rule of law, both in their actions and words. The incendiary comments about rigged cases, corrupt judges and district attorneys, etc. emanating from members of Congress who happen to be lawyers make a mockery of the ABA Rules, which become enforceable only when state bar regulators adopt them (virtually every state has done so). The vile comments about the judicial system by Speaker Mike Johnson, Senators Lindsay Graham, Ted Cruz, Josh Hawley, Marco Rubio and others of their ilk have all violated these rules. State bars might want to examine their conduct.
 
The Utter Irrelevance of Merrick Garland. Unfortunately, the Attorney General is proof positive that a judge should never be appointed chief U.S. law enforcement officer. Too much judicial temperament is a bad basis for swift action. It took Garland years before he appointed a special counsel to investigate Trump, thus setting the stage for the egregious delays in bringing both the January 6 case and the stolen classified documents case. Both of these should have gone to trial long ago. What was timorous Merrick waiting for? Now the American people may never see justice done.
 
A Proper Punishment? Despite Trump’s richly deserved future behind bars wearing a onesie matching his hair color, Judge Merchan is highly unlikely to toss His Nastiness in the slammer. One possible alternative sentence is community service. How about several hundred hours picking up roadside trash along the West Side Highway or FDR Drive?
 
It Never Ends With This Guy. ProPublica recently published a detailed report claiming that at least nine witnesses in the many criminal investigations involving Trump have received dazzling financial benefits: severance packages; raises; new and better jobs; or shares and cash from Trump's media company. Donald Trump's legal team, in a major freak-out panic mode, reportedly sent a cease-and-desist letter to ProPublica in an attempt to stop the investigation from being made public. Add witness tampering to Trump’s unending litany of legal transgressions.
 
Dick Hermann
June 11, 2024