Friday, April 30, 2010
The 'Obama's Katrina' Meme Myopia
This is a case of, yet again, business f@%king up and trying to place the blame on someone else. BP, and evidently Halliburton, half-assed the construction of the rig and it encountered a failure, costing the lives of eleven workers and creating a massive environmental disaster.
One wonders how many other shoddy rigs waiting to go up like a Roman Candle populate the Gulf of Mexico.
I won't blame Obama for a failure of business' responsibility.
Read the Article at HuffingtonPost
Ted Poe: Congressman Compares Illegal Immigrants To Grasshoppers
Gotta love the hateful rhetoric of these ... ehem ... "Patriots".
I'd love to see the undocumented workers getup and leave en mass, just to watch the industries that rely on them, at they same time they support attacks on them, completely collapse.
I would laugh, boy, how I would laugh.
Read the Article at HuffingtonPost
Tuesday, April 27, 2010
Using Education to Cope With a Complex Economy
I would agree that all Americans would be far better off with more education in the area of how to manage their finances. Definitely.
... But how would that education have helped in the situation we find ourselves now? Where Wall Street Bankers in collusion with Government Officials (In an era in which meaningful oversight of key areas of the economy were abandoned) precipitated a global economic Ponzi scheme, fed by the kiting of securities whose exotic design rendered them perfect vehicles for vast institutional fraud ... to the tune of hundreds of trillions of dollars polluting the world economy?
How would knowing how to balance a bankbook or read a mortgage or credit card contract have helped the American people to prevent the crisis that befell them? Just wondering.
Read the Article at HuffingtonPost
... But how would that education have helped in the situation we find ourselves now? Where Wall Street Bankers in collusion with Government Officials (In an era in which meaningful oversight of key areas of the economy were abandoned) precipitated a global economic Ponzi scheme, fed by the kiting of securities whose exotic design rendered them perfect vehicles for vast institutional fraud ... to the tune of hundreds of trillions of dollars polluting the world economy?
How would knowing how to balance a bankbook or read a mortgage or credit card contract have helped the American people to prevent the crisis that befell them? Just wondering.
Read the Article at HuffingtonPost
Arizona Immigration Law FALLOUT: New Law Sparks Fiery Debate
"Racial profiling should be for terrorism. If you look like and act like a terrorist, if you come across as a bad person, you’re going to do harm to our citizens, whether it’s deal drugs, commit crime or commit a terrorist act. Absolutely we ought to profile everybody that looks like a terrorist. I don’t have a problem with that,” Gibbons said. “But if they want to have a racial profile of Irishmen, you know, then I’m going to question that.”
So I am assuming that Nevada police regularly stop and question white guys, in army fatigues, sporting a buzz-cut under the suspicion that they could be intending to blow up a Federal Building?
Read the Article at HuffingtonPost
Somebody Close the Door: Reactions to Arizona Immigration Law Misses the Big Picture
"Let's face it: right or wrong, the Arizona legislation is treating the symptoms of an international disease that needs much stronger medicine."
True like treating Cancer with aspirin, but before the Doctor can treat you he has to properly diagnose your condition. I understand where you are coming from, Mr. Jones, but any conversation that leaves out the way US Business draws Illegal Immigrants into the United States to benefit their enterprises and then provides support for their illegal presence once they are here is also a misdiagnosis of the ailment as well. If we don't confront the practices of US Business in this area there is no solution to the Immigration problem.
I think shaking our collective fists at the US Government will be of little value, for the Health Care and Financial Reform debates pretty much exposed the fact that the majority of our elected officials don't work for us once they get our vote. And the Government of Mexico is little more than an emasculated front for the Oligarchs that own Mexico and are probably in collusion with US Business to provide them peasants to work north of the border as well.
People have to remember that as head of the UFW Cesar Chavez fought against the Farm Owners using illegal migrant workers to replace American workers in the fields. It seems that the rest of the US Business Community learned this trick from Chavez's Farm Owners.
Read the Article at HuffingtonPost
True like treating Cancer with aspirin, but before the Doctor can treat you he has to properly diagnose your condition. I understand where you are coming from, Mr. Jones, but any conversation that leaves out the way US Business draws Illegal Immigrants into the United States to benefit their enterprises and then provides support for their illegal presence once they are here is also a misdiagnosis of the ailment as well. If we don't confront the practices of US Business in this area there is no solution to the Immigration problem.
I think shaking our collective fists at the US Government will be of little value, for the Health Care and Financial Reform debates pretty much exposed the fact that the majority of our elected officials don't work for us once they get our vote. And the Government of Mexico is little more than an emasculated front for the Oligarchs that own Mexico and are probably in collusion with US Business to provide them peasants to work north of the border as well.
People have to remember that as head of the UFW Cesar Chavez fought against the Farm Owners using illegal migrant workers to replace American workers in the fields. It seems that the rest of the US Business Community learned this trick from Chavez's Farm Owners.
Read the Article at HuffingtonPost
Monday, April 26, 2010
Andre Bauer, South Carolina Lt. Gov., Blames 'Flat-Out Lazy' People For Immigration Problems
And what, exactly, does a Lt Gov in South Carolina do? Is that job any different than sitting home doing nothing and getting paid for it?
Read the Article at HuffingtonPost
The Arizona of 2010 is the Alabama of 1963
The most dishonest aspect of the illegal immigration problem is to overlook the fact that there are members of the US Chamber of Commerce that rely on illegal immigrants for their work force. We think it is the guile of individuals jumping the border when they are actually drawn in. There are between ten and twenty million undocumented immigrants in the United States and they are here because US Business WANTS them here. Some American businesses factor the use of undocumented aliens into their business model. Lest we forget, that one of Cesar Chavez's big fights as head of UFW was against farm owners who undercut employing Hispanic-Americans in agriculture in favor of illegals.
"The UFW during Chávez's tenure was committed to restricting immigration. César Chávez and Dolores Huerta fought the Bracero Program that existed from 1942 to 1964. Their opposition stemmed from their belief that the program undermined US workers and exploited the migrant workers. Their efforts contributed to Congress ending the Bracero Program in 1964. In 1973, the UFW was one of the first labor unions to oppose proposed employer sanctions that would have prohibited hiring undocumented immigrants ."
http://en. wikipedia. org/wiki/C %C3%A9sar_ Ch%C3%A1ve z
Read the Article at HuffingtonPost
"The UFW during Chávez's tenure was committed to restricting immigration. César Chávez and Dolores Huerta fought the Bracero Program that existed from 1942 to 1964. Their opposition stemmed from their belief that the program undermined US workers and exploited the migrant workers. Their efforts contributed to Congress ending the Bracero Program in 1964. In 1973, the UFW was one of the first labor unions to oppose proposed employer sanctions that would have prohibited hiring undocumented immigrants
http://en.
Read the Article at HuffingtonPost
Republican Governors Anti-Obama Ad Borrows Political Terrorism Theme
The American Dream has been systematically and methodically dismantled by Republicans and Corporatist Democrats for the last thirty years. Today's political rhetoric is chilling, but is nothing compared to what really happened.
Read the Article at HuffingtonPost
Sunday, April 25, 2010
Obama Miners Memorial: President To Speak At Service For Upper Big Branch Mine Victims
"They lived and they died pursuing the American dream, working in dangerous conditions underground to help keep the lights on across the country."
Being multi-generational wage slaves to a Mining Company is "pursuing the American Dream"? That's just sick. The Miners died because their Government didn't protect them from their employers. End of story.
Read the Article at HuffingtonPost
TV SoundOff: Sunday Talking Heads
Anyone else enjoy Fareed Zakaria's Epic Fail on his CNN GPS show? Besides allowing Geithner a chance to spin his success and frame criticism against him as originating from "myths" ... I laughed pretty good at that one. Zakaria opened his show with an analogy in which he tried to explain to we rubes that what Goldman Sachs is in hot water for is little more nefarious than a bookie taking bets on a sporting event. I don't think any sports bettor would want a Bookie like Goldman Sachs.
Zakaria was saying that what you have in the Goldman Sachs business was Goldman taking bets from all sides and some bettors were just more astute than others. If Zakaria's analogy was honest, he would have included the key point ... that the Bookie knew that the Sporting Event was rigged and was actively soliciting bets in favor of the team that was preordained to lose.
I'll give Zakaria the benefit of the doubt and say his analogy was just sloppy and really bad as stated.
Read the Article at HuffingtonPost
Saturday, April 24, 2010
The Sickening Abuse Of Power At The Heart Of Wall Street
The difference between the United States under Obama in an economic crisis, and the nation under FDR in the same state is that FDR was a blue blood from upstate New York. FDR could walk into the sanctums of the Rich and play hardball with them, and they would grudgingly listen. FDR's Elite peers may have despised him, but he saved their way of life. I'm sure the heirs of the Elites of FDR's day that Obama is faced with have no respect for the President at all, and view him as a gnat with a populist odor. Because of that fact, Obama will not be able to save their way of life this time.
It doesn't matter how many officials you bring in and debrief, they're just patsies. All of this struggle is being played out in amongst what remains of the US Government that isn't wholly owned and a cabal of Elites whose names we wouldn't even recognize. Remember, even Blankfein, Dimond and the other Lords of Wall Street are employees of someone ... despite their immense wealth they are owned too.
We need an FDR to navigate this crisis at the level that matters and we don't have one.
Read the Article at HuffingtonPost
Friday, April 23, 2010
Financial Reform at a Crossroads
I'm certain the situation, like a Financial China Syndrome, will resolve itself should the House, Senate, and President not deal with it in a responsible fashion. I mean, we already know the newly "profitable" Banks are allowed to hold trillions of dollars in bad paper off their books. You can't BS yourself around a fraud forever, no matter how much hubris is capable of being generated in defense of the status quo.
Frauds ultimately resolve themselves.
Read the Article at HuffingtonPost
Thursday, April 22, 2010
The Speech: The Good, The Bad and The Missing
Dylan, I am curious about something. Why would anyone in their right mind, who wasn't an anointed insider, be investing in Wall Street? Why are millions of Americans making a sucker bet on their 401k contributions instead of just depositing the money in a simple savings account? The problem with what the Government does or doesn't do in terms of regulations is one thing, Wall Street has proven itself to be, to the World, a massive, corrupt fraud palace that is not engaging in honest business practices ... legality is besides the point.
This is really Caveat Emptor time for all investors ... whether you be an online investor, with your USS Enterprise Investment Helm Configuration in your den, or a member of the Bakersfield Woman's Auxiliary Investment Club, or the Nation's of Greece, Portugal or South Korea ... if you don't have a bona fide market insider stewarding you through the risks then, in the current Wall Street configuration, you are nothing more than a turkey being fattened up for someone else's Thanksgiving.
The perception that the market isn't honest is far more debilitating for Wall Street than the quality of new Government regulations that are likely built to be circumvented anyway.
Mr. Ratigan, do you still believe the Market is a safe place for the people's hard earned money ... or just for the privileged few?
Read the Article at HuffingtonPost
This is really Caveat Emptor time for all investors ... whether you be an online investor, with your USS Enterprise Investment Helm Configuration in your den, or a member of the Bakersfield Woman's Auxiliary Investment Club, or the Nation's of Greece, Portugal or South Korea ... if you don't have a bona fide market insider stewarding you through the risks then, in the current Wall Street configuration, you are nothing more than a turkey being fattened up for someone else's Thanksgiving.
The perception that the market isn't honest is far more debilitating for Wall Street than the quality of new Government regulations that are likely built to be circumvented anyway.
Mr. Ratigan, do you still believe the Market is a safe place for the people's hard earned money ... or just for the privileged few?
Read the Article at HuffingtonPost
Anderson Cooper Confronts Birther Legislator (VIDEO)
Actually the Birthers have a good point. It is obvious that there is a problem in all 50 states with record keeping in terms of Birth Certificates. I believe that we should establish a Federal Birth Certificate, and only allow the State Administered Birth Certificates have relevance in the State where the Birth Certificate was issued. That way, every individual within the United States will have to prove to the Federal Government that they are actually Natural Born Citizens. Since State Birth Certificates will have no weight, it will be incumbent on every individual petitioning for validation of their United States Citizenship to provide sworn witnesses to their live birth ... the delivering doctor, midwife, or nurse. Parent's would not be allowed to be witnesses due to bias. Until proof of Citizenship to the Federal Government is provided, all Americans would fall into the class of Un-certified American Citizen ... a rung below Resident Aliens who actually filed their papers to achieve their status. Under the status of Un-Certified American Citizen all rights and privileges of Citizenship will be suspended, and the right to work in the United States withheld until proof of Citizenship had been filed. Every human within the United States, from any age group from birth to death, will be required to petition for their citizenship ,,, no exceptions.
It's only right.
Read the Article at HuffingtonPost
South Park's Depiction Of Muhammad Censored AGAIN
.... and for their next trick, Messieurs Matt Stone et Trey Parker will don furry speedos and flippers, smear themselves with elephant seal blubber and take a dip, sans cage, with the majestic Great White Sharks off the Farallon Islands during seal calving season ...
Read the Article at HuffingtonPost
Goldman Sachs Connections, Donations Haunt White House
"PRESIDENT OBAMA: No. I-- I think that-- and I've said this repeatedly, we have to have a thriving financial sector. Because essentially-- part of what's made America so successful is our ability to-- if we've got a dream and we want to go get some financing-- for the next Apple computer. The next iPod, the next-- you know, invention out there, that we are able to go and get investors to finance our dream-- and make it happen. So, we've got to have a thriving-- and effective-- financial sector.
JOHN HARWOOD: So, it is God's work."
Harwood thinks he is a comedian, when in actuality he is an employee of a company who has been fronting for a massive institutional fraud on Wall Street for years. I wouldn't be cute, I'd be nervous.
Then again, it depends upon which god Harwood was referring to as well. Let's not jump to conclusions.
Read the Article at HuffingtonPost
Wednesday, April 21, 2010
Goldman Sachs Connections, Donations Haunt White House
We have some pretty intelligent people in the White House right now. People who understand when you can bluff yourself around a problem and when you are forced to confront it. If it comes time to stab Goldman Sachs in the back, despite contributions and connections they will do it. They might not like doing it, but they will. I'm sure the recent fraud revelations have undermined the position of some of the President's key economic advisers, and I am certain that the President is taking advice from other quarters despite the appearance of status quo.
Obama doesn't want to see systemic, institutional fraud on Wall Street undermine the economy, further erode the United State's image in the world, and solidify his White House with Tea Pot Dome operations of another age.
The United States has a lot on the line, so does this President ... and he is completely aware of it.
Read the Article at HuffingtonPost
Here Comes Wall Street's Attack on Social Security
Mr Miller, Wall Street is a Ponzi Scheme that won't survive without fresh capital. I'm certain the goal is to get the money currently going from paychecks into Social Security to go directly to Wall Street instead. The most important difference for Americans between Social Security and Wall Street is that Social Security guarantees a return while Wall Street doesn't. Think about working your whole lifetime, having money pulled from each paycheck, and being told "Sorry, sucker!" when you go to withdraw. Anyone who disagrees with me obviously didn't pay attention to what Goldman Sachs just pulled on their clients. Oh, don't get me wrong, some favored investor will get to enjoy the years of paycheck contributions ... but not the person whose paychecks were deducted.
I'll stick with fixing Social Security, and the refugee from Lehman had better reconsider his devious plans.
Read the Article at HuffingtonPost
I'll stick with fixing Social Security, and the refugee from Lehman had better reconsider his devious plans.
Read the Article at HuffingtonPost
Donny Deutsch Sidelined At MSNBC Over Keith Olbermann Segment
I have heard Olbermann issue an apology or retraction if the data he presents isn't accurate which indicates a sense of responsibility to his profession. The Limbaugh's and the Fox "News"ers fabricate their data so apologies and retractions are never required, and if pressed on overstepping the line they will cop-out with the "I'm only an entertainer" excuse.
In addition, Olbermann is passionate about his job, but I wouldn't call him a propagandist. The same doesn't hold true for the other personalities cited. Deutsch may have intended one type of comparison but it came across as another, and that is where he faltered ... but he's a Business "Specialist", so what do you expect?
Read the Article at HuffingtonPost
Rendell: Democratic Party Is Soulless, 'Cowering Behind The Shower Curtains'
As a Nation we suffer from a Political Correctness problem when it comes to ignorance. The Right Wing would be nowhere without Americans of inferior intellect. The woefully, intellectually inadequate are being courted by all sides who feel the need to compliment them for their passionate level of ignorance. Stupidity, and its exaltation is the scourge of America. What the Democrats are cowering in fear behind shower curtains about is their fear of offending the ignorant people the Right has whipped up into a fever.
The Right Wing's ideology is regressive and damaging for the United States of America. Because of the Right Wing all that America represents to the rest of the world at this point is indiscriminate wars for profit, ignorance, and fraud. There is no future in that for America, none, and the rest of the world is not required to wait for us to pull ourselves out of the cesspool we are currently wallowing in as a Nation.
Democrats need to be less diplomatic in their engagement with the Right Wing and its followers. The US is in a serious state currently, we can't afford cowards, who are afraid to offend the people whose positions have no standing, as our leaders ... it aids and abets our opponents and their cretinous legions.
There are times to be diplomatic and there are times to Fight. It's time to Fight, unless like the Republicans, the Democrats no longer view the US as worth fighting for.
Read the Article at HuffingtonPost
Financial Debate Renews Scrutiny On Size Of Banks
We must remember there are three components that need to be firewalled from each other ...
Commercial Banks
from
Investment Banks
from
Insurance Companies
... and all three from each other.
It is these three entities working in concert that prove devastating to the economy. Only firewalling Investment and Commercial Banks would still allow a lot of damage to be caused through their relationships with Insurance Companies.
Remember AIG's impact on our economic crisis as well.
Read the Article at HuffingtonPost
Tuesday, April 20, 2010
Even With U.S. Oversight, AIG Keeps Secrets
The stonewalling makes perfect sense. This whole catastrophic economic event was caused by a massive institutional fraud, but those who have the most on the line in Business and Government want to spin it as an unforeseeable event that was part of the natural cycle of business. If the parties with the most at stake can successfully re-imagine the cause of the crisis and sell it to the world then they can avoid neighboring jail cells to Bernard Madoff. The AIG data would likely cause a huge problem for key players and that is why the data is being suppressed. The upshot of all of this, however, is that the current state of the world's financial system is built on a foundation that is criminally corrupt, as such, it will ultimately collapse whether there are meaningful investigations or not. As they say, there are two ways to address this problem, the easy way or the hard way.
It seems the easy way is out of the question.
Read the Article at HuffingtonPost
New Ash Cloud Threatens To Disrupt Air Travel Recovery
I don't think the volcano cares a whit about the concerns of human ants. Remember when Mount Pinatubo kicked the mighty US Military out of Clark Airbase and Subic Bay Naval Base in the Philippines after a 90 year stint there? This volcano could continue erupting for days, weeks, months or years, and if it puts the European Airlines out of business that's just the breaks. I wouldn't risk my life or that of my loved ones flying anywhere near that ash cloud.
Read the Article at HuffingtonPost
Is Jerry Brown the California John McCain?
California is in real trouble, with real problems. Jerry Brown has experience to be Governor, because he WAS Governor. Meg Whitman lucked out as the CEO of a boutique website that took off. The choice is clear in California.
If you are sick do you go to a doctor (Brown) or do you go to someone who SAYS they're a doctor (Whitman)? That's the choice before California voters despite Whitman's war chest.
Read the Article at HuffingtonPost
If you are sick do you go to a doctor (Brown) or do you go to someone who SAYS they're a doctor (Whitman)? That's the choice before California voters despite Whitman's war chest.
Read the Article at HuffingtonPost
Monday, April 19, 2010
Shorting The Middle Class: The Real Wall Street Crime
Arianna, I know there is a tremendous focus on the plight of the Middle Class now, but as pressure was building upon poor Americans in the preceding decades the Middle Class blamed them for their condition the same way some quarters are blaming the Middle Class for its own condition now. The way I see it, we, as a Nation in the last thirty years have moved from an inclusive economy to an exclusive economy. What we are seeing economically echoes that children's song:
There were ten in the bed and the little one said,
"Roll over, roll over."
So they all rolled over and one fell out.
~and so on until~
There were two in the bed and the little one said,
"Roll over, roll over."
So they all rolled over and one fell out.
There was one in the bed and the little one said,
"Good night!"
Arianna, not to over dramatize, but the mortar that keeps our diverse society intact is the possibility of prosperity. Take that away and it's hard to see how things don't get really ugly.
We can't afford an exclusive economy which allows Americans and their families to keep rolling out of bed, we need to pull the people on the floor back into bed and recognize it isn't a "Goodnight" until everyone has a bit of bed and blanket to share.
Read the Article at HuffingtonPost
There were ten in the bed and the little one said,
"Roll over, roll over."
So they all rolled over and one fell out.
~and so on until~
There were two in the bed and the little one said,
"Roll over, roll over."
So they all rolled over and one fell out.
There was one in the bed and the little one said,
"Good night!"
Arianna, not to over dramatize, but the mortar that keeps our diverse society intact is the possibility of prosperity. Take that away and it's hard to see how things don't get really ugly.
We can't afford an exclusive economy which allows Americans and their families to keep rolling out of bed, we need to pull the people on the floor back into bed and recognize it isn't a "Goodnight" until everyone has a bit of bed and blanket to share.
Read the Article at HuffingtonPost
Gun Rally: Second Amendment Activists Swarm DC, VA Rallies (NEWS, PHOTOS)
I hate to burst the 2nd Amendment bubble, but in terms of your personal firearm protecting you from the federal government's weapon arsenal, if it came to that, you might as well be shaking a baby rattle.
Read the Article at HuffingtonPost
Sunday, April 18, 2010
Goldman Sachs Bonuses: Bank Paying Staff Over $5 Billion For Just Three Months Work
The CMO's are just the tip of a very huge iceberg ... All forms of consumer debt were securitized through CDO's, Bond's were securitized through CBO's, even the capital that went into leveraged buyouts were securitized, leveraged and reinvested in the vast float bubble of derivatives as CLO's. Anything that wasn't nailed down, and much of what was nailed down, was securitized and pumped into the vast $750 trillion dollar derivative cloud.
These Goldman Sachs findings amount to merely trickle from a crack in a systemically failing dam.
Read the Article at HuffingtonPost
Simon Johnson: John Paulson Should Be Held Accountable For Goldman Fraud
"The Times report identified Tricadia as one of several firms involved in deals that some critics said had produced profits at the expense of the firms' own clients. (Tricadia responded that it has always put the interest of its clients first.)"
Back in the Cub Scout years of my life I went to a birthday party of one of the other kids in my Den. When I went into his bedroom I was awestruck by a tank with a fat snake and next to the tank a cage of four, skittering white mice.
"It's really cool your folks let you have all these pets!" I said.
To which my friend gleefully responded:
"Yeah! And I get to feed one to the other!"
And in unison from the members of my Den packed into the birthday boy's bedroom rose a solemn.
"Wow ...."
Read the Article at HuffingtonPost
Saturday, April 17, 2010
Jim Cramer Insulted By Sylvian Raynes On CNBC, Erin Burnett Kicks Raynes Off Show (VIDEO)
Again, how many fortunes were saved when the talking heads of CNBC sounded the warning of the imminent economic crisis in the months and weeks leading up to the tailspin of 2008? These guys and gals were all front and center chanting "Danger Will Robinson!!!" ... right?
Folks, all of these convincing, well spoken, seemingly sincere and honest individuals on CNBC are just carnival barkers working to get the nickles out of the rubes pockets before allowing them into the sideshow to glance at the Investment equivalent of the painted lady or puppy with two heads. Oh, they will all argue that money was made in the market in the last decade and that they helped a lot of people do well with their fancy schmancy online trade software. Meh. Of course money was being made ... in an unregulated Ponzi scheme powered through the kiting of worthless securities money will definitely be made, especially when government officials are providing cover for the floating crap game that Wall Street devolved into. But every con runs its course, and the Friedman, Rand, Reagan, Greenspan, Rubin, Gramm fiscal fantasy has nuked the proverbial fridge. Thirty year run, but now it's done.
I appreciate Raynes gave the CNBC clowns the treatment they deserved, unfortunately it won't put any money back into their viewers or the taxpayer's pockets.
Read the Article at HuffingtonPost
How To Survive The Apocalypse: Some Things You Need To Know Before The World Ends
I think I'd be partial to the Sasquatch costume, and I might even consider the Survivaball if it came in a blue "Violet Beauregarde" edition.
A can opener might be nice as well.
Read the Article at HuffingtonPost
Kathy Griffin Has Public Pap Smear, Shows Off Vagazzling (PHOTOS)
Well, if I looked like Kathy Griffin in a bikini I would probably televise my poolside gynecological procedure as well ... if course, I'd probably have to consider being female in order to pull it off.
Details, details.
Read the Article at HuffingtonPost
Friday, April 16, 2010
Goldman Sachs FRAUD Charges Filed By SEC Over Subprime Mortgage Securities
I'm sure this will be received like a pitcher of ice water on the genitalia of the denizens of Wall Street. Wait until foreign governments whose economies have been hobbled by Wall Street practices start bringing their grievances against the United States to the WTO ... that's only a matter of time.
"Financial services Instability in the banking system affects the whole economy. The financial services annex gives governments very wide latitude to take prudential measures, such as those for the protection of investors, depositors and insurance policy holders, and to ensure the integrity and stability of the financial system. The annex also excludes from the agreement services provided when a government is exercising its authority over the financial system, for example central banks’ services. "
http://www
I believe that nations like Iceland, Portugal, Greece, etc could bring a case to the WTO that the unwillingness of the United States to responsibly regulate its domestic financial services industry put its trade partners at undue risk of loss.
Read the Article at HuffingtonPost
Holder Picks Wrong Crowd For Defense Of Military Commissions
Where the Administration and the United States has a huge problem with the trials of Gitmo Detainees is in the probability that most of them were innocent, picked up in sweeps in Afghanistan and deposited under the title of "Worst of the Worst" in Gitmo to be tortured. Think a second, who would have first hand knowledge that the detainees are nobodies, without terrorist affiliation? That would be the US Lawyers assigned by the Government to defend them ... the one's that Liz Cheney is fond of referring to as the "al Qeada 7".
Where the Obama Administration has a problem is they approached the trials from the legal position, rather than as a National Security issue, probably because they weren't aware of the scope of the problem at the beginning. National Security not in terms of a threat of terrorism to the US, but to the United State's position as a world leader. The Bush Administration seizing innocent foreign nationals, and transporting them to an isolated location where they are tortured and murdered turns the United States into the textbook definition of a Rogue State.
War Crimes have obviously been committed by the Bush Administration, and bringing that information to light in a public trial would require the United States to prosecute the Administration figures involved, or risk the complete loss of credibility of the United States as anything but a imperialistic predator.
That reality puts Holder in a difficult position.
Read the Article at HuffingtonPost
Thursday, April 15, 2010
Tea Parties Protest Tax Day 2010 (PICTURES, VIDEO)
I would imagine Karl Rove's proper place in the Fox "News" stable is as a smelly lump in the corner attracting flies.
Reality Check. How many American jobs were shipped abroad by US Corporations that were gifted with a tax break for doing so by the Bush Administration? Let's talk about jobs, Karl.
Read the Article at HuffingtonPost
Tax Day Fact Check: Most Americans Got A Tax Cut This Year
I really think that the Tea Party protesters are little more than a prop for the Conservative Establishment, very much the same way the Gitmo Detainees were used as props by the Bush Administration to further their WOT agenda.
In terms of the Tea Party, there are always aimless drifters of life you can coagulate into a chanting clot of sign wielding vitriol. Give them a funny hat and a reason to leave their couch and "Voila" you have the illusion of of a grass roots political movement. Since the majority of Tea Baggers stand for nothing more than a reason to be angry in public, they are a White Board for the Political establishment to write upon. You can have Corporate Pundits in the press interpret the meaning of the Tea Bag Rorschach in anyway that suits the narrative of the Conservative Organizations they are affiliated with. I think the biggest threat to the Tea Bag Movement, and the greatest concern for the Conservatives that are counting on them, is boredom setting in on the part of the participants to the point that reruns of "Hogan's Heroes" prove more enticing than going to a rally.
Read the Article at HuffingtonPost
Wednesday, April 14, 2010
Sarah Palin's Boston Tea Party Speech: Obama Agenda 'Un-American'
"I'm not calling anyone un-American, but the unintended consequences of these actions -- the results -- are un-America
Sort of like being the wife of a member of the Alaska Separatist movement, I guess.
Read the Article at HuffingtonPost
Mark Zandi: 'It Would Be Counterproductive' To Offset Unemployment Benefits Now
It would be a huge mistake to interfere with unemployment payments in anyway. With the current condition of the economy everyone knows someone who is struggling without a job. If you want working consumers to tighten their spending habits all you need to to is send a message there is no safety net. People start putting money into savings instead of spending and the economy hits the skids once more.
This is not the time for politics ... the unemployment crisis requires commonsense.
Read the Article at HuffingtonPost
Eric Holder Denounces Liz Cheney's Ad Campaign As 'Reprehensible'
I am confident that the Bush Administration had a far more intimate relationship with al Qaeda, than the so-called "al Qaeda 7" that Liz Cheney is ranting about, and benefited profoundly from that relationship.
Read the Article at HuffingtonPost
Was Bernie Madoff the Exception or the Rule?
Mr. Borosage, I think we have to all remember that Bernie Madoff is in prison right now because he admitted that his operation was a Ponzi to members of his own staff and someone outed him. No SEC, FBI or other agency's investigation uncovered what he was doing. Individuals who had suspicions about Madoff's activities over the years were stonewalled. Bernie Madoff was made Chairman of Nasdaq (although the claim is now it was only a "ceremonial position"), so his approach to the business certainly didn't make them an outlier. As soon as the Gramm deregulation legislation was signed into law by Clinton at the end of his Presidency the Wall Street fraud Gold Rush was on. Given all the regulatory freedom they ever could have desired, the best Wall Street "geniuses" could arrive at was a Global Institutional Ponzi Scheme fed by the kiting of leveraged, inherently worthless, securities. To empower this massive institutional fraud, we had Al Capone style Accounting Practices in place, we had Rating Agencies that were rigging bad paper with triple A ratings, and we had, as noted in your piece, Corporations expecting their associates to engage in fraud for the benefit of the bottom line.
Furthermore, the stakes could never be higher to the Wallstreeters and the Government Officials who empowered this fraud ... for when it collapses, as it surely will, their futures couldn't be more indoubt.
Read the Article at HuffingtonPost
Furthermore, the stakes could never be higher to the Wallstreeters and the Government Officials who empowered this fraud ... for when it collapses, as it surely will, their futures couldn't be more indoubt.
Read the Article at HuffingtonPost
Tuesday, April 13, 2010
Our False Recovery: Why Wall Street Is Up and Everyone Else Is Down
"Since Americans believe that the New York Stock Exchange represents the national economic thermometer, they have been seduced into thinking hat we have fixed our financial problems, and we are on the road to a real recovery."
Reality check. I recently saw a letter from a school Principal asking for contributions for groceries for a family within the school that has been adversely impacted by the economy. This is in the San Francisco Bay Area. It really doesn't matter what the media spin on the economy is when reality confronts you like this. This Principal's request for aid for one of the school's families carries more weight than any news conference or article by economic experts. I'd add, that the same people trying to convince us that the economy is better are trying to convince of the perception of the American People on the economy. I'd say, people have eyes. People may watch television or read the paper, but at some point they leave their homes and interact with the real world, and that's when reality trumps spin.
Read the Article at HuffingtonPost
Reality check. I recently saw a letter from a school Principal asking for contributions for groceries for a family within the school that has been adversely impacted by the economy. This is in the San Francisco Bay Area. It really doesn't matter what the media spin on the economy is when reality confronts you like this. This Principal's request for aid for one of the school's families carries more weight than any news conference or article by economic experts. I'd add, that the same people trying to convince us that the economy is better are trying to convince of the perception of the American People on the economy. I'd say, people have eyes. People may watch television or read the paper, but at some point they leave their homes and interact with the real world, and that's when reality trumps spin.
Read the Article at HuffingtonPost
JPMorgan Chase Argues Against Mortgage Modifications, Citing Sanctity Of Contracts
Well, the Banks aren't thinking clearly here. The properties are no longer worth the fraudulently inflated prices they were originally sold for. The desire of the mortgage holder to renegotiate the mortgage, even by reducing principal, indicates a desire to continue paying on what was a Bank backed con to start with. The only logical alternative for the underwater mortgage holder, if the Bank refuses to negotiate, is to abandon the property, and leave the Bank to deal with it. What is it now? One out of four American Mortgage holders is underwater? It was an Institutional Fraud that put these individuals into their homes in the first place. If the Banks don't want to renegotiate the mortgage, I see nothing immoral about the homeowners just walking away. A contract is just a glorified piece of paper, and lawyers make as much money breaking contracts as making contracts.
For those with sympathy for the Banks, I'm sure they will recover the original value of the properties in 40-50 years or when hyperinflation renders a million dollar mortgage a bargain.
Read the Article at HuffingtonPost
Monday, April 12, 2010
Don Blankenship: Investors, Politicians Begin Calling For Massey Head To Resign
Finally someone is showing some common sense and humanity. We need to eliminate miners dying as part of the "just one of those things" management mentality of the mining profession.
Read the Article at HuffingtonPost
Read the Article at HuffingtonPost
It's Official: Tiger Woods Has Learned Nothing
"The best golfer in history. And an asshole."
When you consider the deals made on golf courses around the world that have destroyed people's lives, I would only have to say that Tiger should represent golf without apology. He's perfect.
Read the Article at HuffingtonPost
When you consider the deals made on golf courses around the world that have destroyed people's lives, I would only have to say that Tiger should represent golf without apology. He's perfect.
Read the Article at HuffingtonPost
Upper Big Branch Mine Disaster: Should Investigation Be Public?
"[As of now, the hearings] won't be open to the public ... Almost certainly, the investigative interviews will occur behind closed doors. Members of the press and the public will be shut out from this terribly important government task."
Of course, it would be silly in a free society to allow the information revealed during this investigation to be shared with the public.
Read the Article at HuffingtonPost
Recession Over? Not So Fast, Says The Organization That Tracks Downturns
There has been a major push to declare the Recession over since Government and Business Leaders reluctantly acknowledged there was a Recession to start with. I think the reasons for this are twofold.
First, to promote a lemming response amongst the American Consumer. If people think the economy isn't as bad as it is they may return to the behavior of spending on things they really don't need and can't afford. Exactly what our international trade partners require from their economic relationship with the United States.
Secondly, the individuals who had the most influence on the economic crisis are extremely wealthy with tremendous leverage over elected officials in both political parities. These individuals don't want to be exposed to any legal ramifications ... even if you could find a court that wasn't rigged in their favor in the first place. Furthermore, the fraud that is in the process of collapsing has made them richer and powerful beyond their fondest aspirations and they have no intention of allowing any changes in the current economic model.
So, the rest of the US and global population are along for the ride as this sliver of avarice driven humanity mandates their madness as our reality.
So, sure, the Recession is over ... or it isn't ... same difference.
Read the Article at HuffingtonPost
Sunday, April 11, 2010
Arianna Suggests Elizabeth Warren As A Candidate To Replace Justice John Paul Stevens On The Supreme Court (VIDEO)
I think Warren might be too conservative ... ehem.
I can't see supporting her.
Read the Article at HuffingtonPost
16 Porn Parodies Based On Beloved Sitcoms (NSFW Video)
I can see "The Brady Bunch", but "The Partridge Family"?
I mean, come on, is nothing sacred?
Read the Article at HuffingtonPost
Daniel Gross: America's Amazing Comeback
More happy talk, nothing has fundamentally changed with the structural problems of the global economy since the crisis in 2008. Massive amounts of stimulus money have been dropped into the global economy to buy time for this economic "Prague Spring" we are experiencing. When the impact of multinational stimulus intervention wears off then lets talk the wonder of the American economy.
Read the Article at HuffingtonPost
Interest Rates: The Era Of Cheap Credit Is Over
The world needs the American consumer. No other culture on earth would allow itself to go bankrupt accumulating Fred Flintstone Chia Pets like Americans.
Without jobs, without cheap credit, there is no American Consumer.
Maybe the US Government or the IMF should just start cutting all of us weekly checks to keep us spending on crap we never needed in the first place, otherwise the Anglo/American vision of a global economy is done for.
Read the Article at HuffingtonPost
Saturday, April 10, 2010
Wal-Mart Cutting Prices On EVERYTHING
"THE REASON: Analysts say the cuts are Wal-Mart's way of responding to toughened competition. The company's fourth-quarter report showed store traffic dropped."
The reason is we are in a Depression, people don't have jobs, are afraid of losing their jobs, and have experienced wage stagnation for decades ... in short, Americans are finding themselves tapped out and don't have the resources to blow in WalMart's Emporium of Chinese Made Kitsch they once had.
Read the Article at HuffingtonPost
Friday, April 09, 2010
Glenn Beck Believes Gay Handicapped Black Female Immigrant Will Be Obama's Supreme Court Nominee
Beck would probably prefer a pale, semi-literate, refugee from The Morning Zoo, with bad hemorrhoids, a White Board, and a cretinous following that inspires within him delusions of grandeur ...
Just a guess.
Read the Article at HuffingtonPost
Alan Grayson Confronts GOP For Spying On Democratic Gathering (VIDEO)
"Politics and Poker, Politics and Poker
Shuffle up the cards and find the Joker.
Neither games for children
Either game is rough
Decisions, decisions ... Like
Who to pick? How to play? What to bet?
When to call a bluff."
Fine hand Mr. La Guardia ... er ... Grayson.
Read the Article at HuffingtonPost
Obama Administration Missed Chance To Get Tougher On Unsafe Mines
A strong, decisive President who didn't feel the need to capitulate on every issue ... like, say, Theodore Roosevelt, or FDR ... would have mine owners and managers lawyered up or diving out of windows right now.
Read the Article at HuffingtonPost
Two-Party System at Risk
Excellent post, Sir. May I say that the only thing that will save the GOP at this point is the influence of actual Republicans. I don't think these ideologues have any interest in what the Republican party actually stands for and only uses it as a vehicle to further their myopic aims.
Read the Article at HuffingtonPost
Read the Article at HuffingtonPost
Gingrich: Obama 'Most Radical President In American History' (VIDEO)
Gingrich wastes so many syllables trying to get his message across. Why doesn't Newt just say what he means.
"The President is black and that is bad."
I hear the dog whistle associated with "the most radical president in American history". Playing the race card is all the GOP has left to corral the denizens of Fox News and Rush Limbaugh who comprise what remains of their party's base.
Read the Article at HuffingtonPost
Thursday, April 08, 2010
The Confederacy: Kill the Myth Once and For All
Mr. Schweitzer, to put a fine point on it, there is no difference between the Confederacy and the British of 1814 who burned Washington, the Imperial Japanese of 1941 who bombed Pearl Harbor, or Al Qaeda of 2001 that destroyed the World Trade Center. I prefer not to romanticize American enemies in anyway. The Confederacy was an enemy of the United States of America not worthy of anymore commemoration than the Viet Cong. As for saluting Confederate Generals, Yamashita, the Japanese "Tiger of Malaya", was a fine General as well, but we still hanged him.
Read the Article at HuffingtonPost
Read the Article at HuffingtonPost
Harry Reid Tells Nevada Voters: 'I Need Your Help'
Harry Reid's predicament is due to the problem with mortgages and the drop off in the entertainment economies of the two key Democrat strongholds in Nevada of Reno/Sparks and Las Vegas/Paradise ... the rest of the state is basically John Birch territory. Had Reid championed and strong-armed through the Senate consumer friendly mortgage legislation forcing Banks to write down principal and renegotiate mortgage terms then he wouldn't find himself with his back against the wall now. I understand that the Senate represents corporations more than people, but people, currently, elect the Senators. Reid should have been Machiavellian and thrown the Banks and Wall Street under the bus to save his skin and didn't.
Don't tell me it was Reid's stand on Health Care Reform that sank him, he forgot that all politics is local, and it was no secret that the very areas he relies on for re-election were suffering the worst during the economic crisis. I'm sure the Democrats of Reno/Sparks and Las Vegas/Paradise who have lost their jobs, homes or are heading towards that condition are wondering what the upside of Reid as Majority Leader of the Senate was for them. Therein. lies Reid's problem.
Read the Article at HuffingtonPost
Bernanke: Financial Crisis 'Largely Behind Us'
I don't think we can trust any information coming from the Fed, because the institution is culpable in what occurred with the economy. Any information coming from Bernanke should be considered as biased as that of any trade organization spin.
Read the Article at HuffingtonPost
Wednesday, April 07, 2010
Privatization or Public-ization?
"There's a lot of talk these days about the growing support for a privatization of America's public school system, and what it augurs over the long haul. "
It's bad enough the influence the State of Texas has on school curriculum nationally. I can't wait to see the future of America's students when the US Chamber of Commerce is deciding what they learn.
The push for privatization intimates that the US Government is incompetent to run major enterprises, and that Teachers Unions are the problem with US Education when the fact is the poor state of public education rests primarily on poor American parenting skills.
It maybe the goal of your piece to build a bridge between factions, but how is "Public-ization" of school systems, in essence taking public funds to underwrite private enterprise, any different than mandating people to buy a for profit health insurance policy from private industry? What these trends signify to me is that the "Free Market" from the corporate perspective is dead and the business model now requires raiding public coffers in order to meet investors expectations.
In other words, "public-ization" has nothing to do with the education of America's children.
Read the Article at HuffingtonPost
Giuliani's Obama-Nuke Critique Defies And Ignores Reagan
Giuliani's rhetorical technique resembles a toddler reaching into its diaper, grabbing a fistful of content, and hurling it about its playpen.
Read the Article at HuffingtonPost
Greenspan Testifies To Financial Crisis Commission, Blames Fannie, Freddie For Subprime Crisis (LIVEBLOG, VIDEO)
Greenspan is in CYA mode, pointing fingers in all directions. The bottom line is the economic system that he and his buddy Milton Friedman advocated for was a fraud. These guys made their fortune telling rich and powerful people exactly what they wanted to hear to the detriment of the rest of the US, and arguably global, population.
Read the Article at HuffingtonPost
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