BuelahMan's Revolt

A Redneck's Guide To Reversing The Corptocracy Brainwashing

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.. when nobody is watching the hen house…

Posted by Lynda on January 23, 2010

Supreme Court’s Citizens United decision.

The Massachusetts election Tuesday was the last one conducted under rules that had been in place for over a century to protect the right of the people to choose their government free from enormous expenditures of corporate wealth. Next time voters want to send us a message at the ballot box, they may find their voices drowned out by wealthy corporations with their own special-interest agendas.
This Supreme Court decision takes us back a century to a legal framework that fostered a golden era of corporate influence. While the core of the McCain-Feingold law, the ban on unlimited “soft money” contributions by corporations, unions and wealthy individuals directly to the political parties remains intact for now, the reasoning of this decision undermines the foundation of a host of laws enacted to strengthen our democracy and curb corruption in government. Indeed, the soft-money ban could very well be the next target of those who want to see our political system dominated by corporate influence.
This decision gives a green light to corporations to unleash their massive coffers on the political system. The profits of Fortune 500 companies in 2008 alone were 350 times the entire amount spent on the last presidential election.

Oil companies, with virtually no harm to their balance sheets, can now try to “take out” members of Congress who don’t toe their company line on energy policy. Foreign-owned companies–even those owned and controlled by other governments are free to underwrite the candidates of their choice.
Because of the scope of the Citizens United decision, it will take close examination to see what can be done to restore the voice of the average citizen in elections. We must not stand by as corporations threaten to dominate our democratic process. If the race in Massachusetts showed us anything, it’s the power of voters. In our democracy, that power not the power of corporate wealth should decide our elections.

WP/1.23.10

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Scotland Says there is no time left…

Posted by Lynda on November 19, 2009

http://www.bbc.co.uk/iplayer/console/p0053drb

People are people everywhere we go aren’t they. I had prior looked into a company called ‘PLUG’ and it actually has stock– it is wave energy. Now listening to this I kept answering outloud… ” Hell we can’t get people to stop killing people and you want to change people into tree planters. Well and good but in a world gone mad… well, really… what are we doing??? and for heavens sake… Carbon Credits exchanged globally– and Carbon swopping??? Geeeeeeeeece

http://www.bbc.co.uk/iplayer/console/p0053drb

 

 

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Those minds before us–

Posted by Lynda on December 11, 2008

I Couldn’t sleep last night– so I sat-up in bed  clicked on “Independent Lens” PBS– watched ‘DOC’— loved it!!
So very very cool. I learned much about those directly before my time…. and especially a wonderfully crazy man named ‘Doc’. Catch it if you can!

http://www.filmswelike.com/pages/doc.html

doc_poster_sm
The amazing adventures of H.L. “Doc” Humes, the man who put the culture in counterculture. With Lord Buckley, the Hip Messiah; paper houses for the poor; Don Peyote, a lost Beat take on Cervantes; the CIA, FBI, marijuana, massage, utopia—and paranoia.
In the 1950s and early ’60s, Doc co-founded The Paris Review, wrote two acclaimed novels, and was a gregarious fixture of the cultural scene in Paris, London and New York. Doc was a 1950s NYC intellectual, a 60s free speech militant, and a 70s visionary crazy genius. His story is the story of decades of cultural history, a poignant personal long-strange-trip, and a fount of ever-relevant ideas.

Absorbing! Could have been subtitled Portrait of the Artist as a Madman… Doc emerges as a quintessential countercultural figure, embodying both the exuberance and the excesses of the times. More poignantly, Immy Humes finds redemption for the father who was often too preoccupied or too sick to tend to his family.”
– Tom Beer, Time Out NY
“An engaging time capsule of ‘60s downtown subversive culture.”
– Lisa Rosman, Flavorpill

DOC
95 Mins/ 2008/ USA
A film by Immy Humes

doc_umentary_hippie2_sm
QUOTES BY H.L.“DOC” HUMES
“I suggest that we start with the blueprint for Utopia. We’ve gotten into the pernicious habit of dismissing utopia as impractical. It may be that utopia is the only way out. I mean that quite seriously. It may simply be a fact of history that the alternative to Utopia is Hell, perpetual warfare. It looks like we all have to learn how to live like saints and angels merely to survive.”
“The country is suffering a real pestilence, a plague as real as anything that ever hit Europe in the Middle Ages. It’s an emotional plague, an emotional disorder rather than virus or a bacillus, it’s endemic anxiety neurosis. They see fear as something that makes their machine go –I mean when I say they, call them the government, call it the corporate structure, call it whatever you will. They deliberately induce a state of anxiety.”
“I think we can establish in a court of law that cannabis is a drug that does heal and liberate the human spirit. If used properly and not just to get stoned out of your balloon on—you dig what I mean.”
“What’s happening in the world of the media is that the techniques of image mongering are being perverted to distract, divert, obfuscate, exactly the opposite of what the poet does—It’s kind of a battle of language that’s going on. This presents a real problem for the poet, because the poet—being the first enemy of the tyrant—is stuck with the task of unraveling this perversion of the use of language.”
“Machinery that’s not used rusts. And sometimes it’s a good idea not to pay the 2 dollars, to fight the case, to give the judge something to get his teeth in, so he can put down a decision, make a precedent. If you pay the 2 dollars every time, then nothing gets before the courts and nothing is decided, no new precedents are made and everything stagnates.”
“The thing I’ve discovered most recently, that I think is the most relevant, is that you never fall out of love with anybody that you’ve ever loved. I mean, once the anger has diminished, once the stone has been removed from your shoe, the love is still there. And that’s just amazing. Just amazing. I’ve done exhaustive research on that subject. Exhaustive research. And it has exhausted me.”

Norman Mailer
“The 50s had sat on all of us like a boil… And what we wanted was to disturb society. We couldn’t stand the complacency of society. We hated the Cold War, although I don’t recall we ever talked much about it, it wasn’t the Cold War we hated, we hated the air of oppression that sat over everything because of the Cold War and the way we felt that the powers that be were manipulating everything and using the Cold War in order to be able to run their little game the way they liked to run it. So we saw ourselves as icebreakers, as people who were going to smash all the stupidity and this congealed lard that sat over the public mind. It never occurred to us that there’s a certain part of the public mind that loves being installed in congealed lard because it makes life a lot easier if you don’t have to think a lot of the time. Then came the 60′s…”

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“Pardon me Boys, this ain’t the Chattanooga Cho-Cho…”

Posted by Lynda on November 24, 2008

Common reasoning tells all of us that this is just the beginning of this pardoning crap from Bush… he has bigger fish to set free than these…

Bush pardons 14 and commutes 2 prison sentences

By DEB RIECHMANNThe Associated Press
Monday, November 24, 2008; 6:20 PM

WASHINGTON — President George W. Bush has granted pardons to 14 individuals and commuted the prison sentences of two others convicted of misdeeds ranging from drug offenses to tax evasion, from wildlife violations to bank embezzlement, The Associated Press learned Monday.

The new round of White House pardons are Bush’s first since March and come less than two months before he will end his presidency. The crimes committed by those on the list also include offenses involving hazardous waste, food stamps, and the theft of government property.

Bush has been stingy during his time in office about handing out such reprieves.

Including these actions, he has granted a total of 171 and eight commutations. That’s less than half as many as Presidents Clinton or Reagan issued during their time in office. Both were two-term presidents.

On the latest pardon list were:

_Leslie Owen Collier of Charleston, Mo. She was convicted for unauthorized use of a pesticide and violating the Bald and Golden Eagle Protection Act.

_Milton Kirk Cordes of Rapid City, S.D. Cordes was convicted of conspiracy to violate the Lacey Act, which prohibits importation into the country of wildlife taken in violation of conservation laws.

_Richard Micheal Culpepper of Mahomet, Ill., who was convicted of making false statements to the federal government.

_Brenda Jean Dolenz-Helmer of Fort Worth, Texas, for reporting or helping cover up a crime.

_Andrew Foster Harley of Falls Church, Va. Harley was convicted of wrongful use and distribution of marijuana and cocaine.

_Obie Gene Helton of Rossville, Ga., whose offense was unauthorized acquisition of food stamps.

_Carey C. Hice Sr. of Travelers Rest, S.C., who was convicted of income tax evasion.

_Geneva Yvonne Hogg of Jacksonville, Fla., convicted of bank embezzlement.

_William Hoyle McCright Jr. of Midland, Texas, who was sentenced for making false entries, books, reports or statements to a bank.

_Paul Julian McCurdy of Sulphur, Okla., who was sentenced for misapplication of bank funds.

_Robert Earl Mohon Jr. of Grant, Ala., who was convicted of conspiracy to distribute marijuana.

_Ronald Alan Mohrhoff of Los Angeles, who was convicted for unlawful use of a telephone in a narcotics felony.

_Daniel Figh Pue III of Conroe, Texas, convicted of illegal treatment, storage and disposal of a hazardous waste without a permit.

_Orion Lynn Vick of White Hall, Ark., who was convicted of aiding and abetting the theft of government property.

Bush also commuted the prison sentences of John Edward Forte of North Brunswick, N.J., and James Russell Harris of Detroit, Mich. Both were convicted of cocaine offenses.

Under the Constitution, the president’s power to issue pardons is absolute and cannot be overruled.

Some high-profile individuals, such as Michael Milken, are seeking a pardon on securities fraud charges. Two politicians convicted of public corruption _ former Rep. Randy “Duke” Cunningham, R-Calif., and four-term Democratic Louisiana Gov. Edwin W. Edwards _ are asking Bush to shorten their prison terms.

One hot topic of discussion related to pardons is whether Bush might decide to issue pre-emptive pardons before he leaves office to government employees who authorized or engaged in harsh interrogations of suspected terrorists in the wake of the Sept. 11, 2001, attacks. Some constitutional scholars and human rights groups want the incoming administration of President-elect Barack Obama to investigate possible war crimes.

**If Bush were to pardon anyone involved, it would provide protection against criminal charges, particularly for people who were following orders or trying to protect the nation with their actions. But it would also be highly controversial.

At the same time, Obama advisers say there is little _ if any _ chance that his administration would bring criminal charges.

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Bush & Cheney still have until January!!

Posted by Lynda on November 3, 2008

Bush and Cheney STILL have things they want to do!

By

Special to washingtonpost.com
Friday, October 31, 2008; 12:12 PM

Did we really expect President Bush and Vice President Cheney to go quietly?

 

R. Jeffrey Smith writes: “The White House is working to enact a wide array of federal regulations, many of which would weaken government rules aimed at protecting consumers and the environment, before President Bush leaves office in January. “The new rules would be among the most controversial deregulatory steps of the Bush era and could be difficult for his successor to undo. Some would ease or lift constraints on private industry, including power plants, mines and farms. “Those and other regulations would help clear obstacles to some commercial ocean-fishing activities, ease controls on emissions of pollutants that contribute to global warming, relax drinking-water standards and lift a key restriction on mountaintop coal mining. “Once such rules take effect, they typically can be undone only through a laborious new regulatory proceeding, including lengthy periods of public comment, drafting and mandated reanalysis. . . . “The burst of activity has made this a busy period for lobbyists who fear that industry views will hold less sway after the elections. The doors at the New Executive Office Building have been whirling with corporate officials and advisers pleading for relief or, in many cases, for hastened decision making.”

Emma Schwartz reports for ABC News: “Every administration tries to pass last minute rules in hopes of leaving a lasting mark. But experts say the Bush administration is expected to approve a greater number more quickly than previous administrations — something they said could lead to bad and costly policy. “‘The administration wants to leave a legacy,’ said Gary Bass, executive director of OMB Watch, which has been critical of these proposals. ‘But across the board it means less protection for the public.’ . . . “It wasn’t supposed to be this way. In May, Josh Bolten, then-head of the Office of Management and Budget, which oversees regulatory approval, issued a memo barring new proposals after June. It also required that all new regulations be completed by Nov. 1. proposed rule put forward by the National Marine Fisheries Service that would lift a requirement that environmental impact statements be prepared for certain fisheries-management decisions and would give review authority to regional councils dominated by commercial and recreational fishing interests. Pew Environment Group says the rule “threatens to completely undermine application of the law that protects ocean ecosystems.” OMB Watch reports: “In addition to the hundreds of thousands of public comments opposing the proposed rule, 80 members of Congress have also expressed their opposition, including a letter joined by 72 members of the House of Representatives. The letter states that the proposed rule fails to meet congressional intent made clear during the reauthorization of the [fisheries act]. Hundreds of scientists and environmental organizations have also signed on to oppose the rule.” Siobhan Hughes wrote about in the Wall Street Journal on Monday: “The Bush administration is moving to adopt rules that would loosen pollution controls on power plants, by judging the plants on their hourly rate of emissions rather than their total annual output, people familiar with the matter said. . . . “As long as a power plant’s hourly emissions stay at or below the plant’s historical maximum, the plant would be treated as if it were running more cleanly, even if its total annual emissions increased as plant operators stepped up operations.” “That hasn’t been the case. Many proposed regulations have yet to be finalized and new ones have already come out since the June deadline. “A spokesperson for OMB said in an email response that the Bolten memo ‘wasn’t intended to wholesale shut down work on important regulatory matters after November 1st, but to emphasize due diligence.’ “She added: ‘Ensuring the integrity of the process is important to the Administration.’”

Another example is something I’ve been calling attention to yet more examples of the Bush administration’s midnight rule-making for the past several months. For instance, back in May, Carol D. Leonnig wrote in The Washington Post in July: “Political appointees at the Department of Labor are moving with unusual speed to push through in the final months of the Bush administration a rule making it tougher to regulate workers’ on-the-job exposure to chemicals and toxins.”

Alicia Mundy wrote in the Wall Street Journal two weeks ago: “Bush administration officials, in their last weeks in office, are pushing to rewrite a wide array of federal rules with changes or additions that could block product-safety lawsuits by consumers and states.” And of course there’s the push for a last-minute regulatory overhaul that would effectively gut the Endangered Species Act.

Dina Cappiello wrote for the Associated Press just 10 days ago that Interior Department officials were rushing so hard to ease the endangered species rules before Bush leaves office that they were “attempting to review 200,000 comments from the public in just 32 hours.” And on Monday, And yet another one to add to the list. In today’s Post, The proposed sale, which includes famous areas in the Nine Mile Canyon region, would take place Dec. 19, a month before President Bush leaves office.” Tip of the Iceberg?Keep in mind that rule-making is by definition a public process. So what else is going on, beneath  the surface? I raised a slew of questions in that vein for

* Are appointees in federal agencies trying to cover their tracks? Are documents being properly retained?

* Are Bush political appointees working on last-minute reorganizations within the federal government?

* Are Bush loyalists burrowing into the civil service? Will political appointees engage in a last-minute flurry of hiring and promoting Bush loyalists into key civil service jobs? Will political appointees try to make the jump into the civil service?

Bush in the Rearview Mirror

“‘I would say that the most amazingly bankrupt line of argument that I’ve ever seen in this campaign has been the constant and heavily financed effort on the part of the Obama campaign to make George Bush John McCain’s running mate,’ Rick Davis, McCain’s campaign manager, said in a conference call with reporters. “‘To me it’s outrageous. Everybody who knows John McCain, who has spent any amount of time following his life and times, knows that he has been probably one of the biggest flies in the ointment for the Bush administration on Capitol Hill when it comes to putting his country first.’”

Lauren Vernon writes for The Hill: “John McCain’s presidential campaign on Thursday said the Arizona senator would win the race for the White House if Democratic rival Barack Obama keeps seeking to link the GOP nominee to President Bush. “McCain campaign manager Rick Davis said the attempt of the Illinois senator’s campaign to link the current White House occupant to the new Republican standard-bearer is ‘a desperate attempt at the end of this campaign by Obama to try and stem the flow of people away from his campaign.’”

As Alberts notes, sparking Davis’s ire was “‘John McCain wants to continue George Bush’s economic policies,’ the announcer continues . . . ‘Look behind you: We can’t afford more of the same.’” “And as much as the McCain camp wishes it weren’t so, the fact remains that voters generally don’t see their candidate as enough of a change from Bush.

Gary Langer writes for ABC News: “For all the focus on the economy as John McCain’s greatest problem, there’s another right behind it: George W. Bush. . . . “Fewer than half of likely voters in the latest ABC News/Washington Post tracking poll, 47 percent, think McCain would lead in a new direction; 50 percent instead say he’d mainly continue on Bush’s path. McCain has not exceeded 48 percent ‘new direction’ all year, at a time when dissatisfaction with the country’s current course has hit record highs. “It matters: Among those who think McCain would lead in a new direction, 82 percent support him. But among those who think of him as Bush 2.0, 90 percent prefer Barack Obama instead — one of the starkest dividing lines between the two candidates. “Similarly, while McCain overwhelmingly is supported by the relatively few remaining Bush approvers, he loses Bush disapprovers — 72 percent of likely voters — by nearly a 3-1 margin, 71-27 percent.”

Michael Cooper and Dalia Sussman write in the New York Times about the latest New York Times/CBS News poll: “With just days until Americans choose a new president, the survey found them deeply uneasy about the state of their country. Eight-five percent of respondents said the country was pretty seriously off on the wrong track, near the record high recorded earlier this month. A majority said the United States should have stayed out of Iraq. And President Bush’s approval rating remains at 22 percent, tied for the lowest presidential approval rating on record (which was President Harry S, Truman’s rating, recorded by the Gallup Poll in 1952). “Mr. McCain’s renewed efforts to cast himself as the candidate of change have apparently faltered. Sixty-four percent of voters polled said Mr. Obama would bring about real change if elected, while only 39 percent said Mr. McCain would.”

CBS Newsreports: “Fifty-three percent expect the GOP nominee to continue Mr. Bush’s policies. Forty-one percent do not.” Even Texans Reject Him> Bush talks a lot these days about how he’s looking forward to going home to Texas. But it may not be quite as warm a homecoming as he was hoping for.

Dave Montgomery writes for the Fort Worth Star-Telegram about how Texans are “joining the rest of the nation in registering sharp disapproval of his job performance as the nation’s chief executive, according to a newly released statewide poll. “Only 34 percent of Texans polled in a University of Texas survey approved of Bush’s handling of the presidency, with just under 10 percent approving ‘strongly.’ By contrast, 55 percent disapproved, with 38.7 percent strongly disapproving. “While the approval ratings are somewhat higher than national polls, the Texas findings reflect a significant downturn in popularity for a native son and former Texas governor who drew 61 percent of the Texas vote in his re-election victory over Democratic Sen. John Kerry four years ago. Throughout much of his two-term presidency, Texas has generally provided Bush with a safety net of robust support while he was losing favor elsewhere.”

On the Trail

“McCain . . . appears with the president only in commercials paid for and approved by Democratic presidential candidate Barack Obama or the Democratic National Committee (DNC). McCain spends most of his days seeking as much distance between he and the president as he can find.” And Youngman notes that “the first lady isn’t the only current occupant of the White House getting in on the act. “Vice President Dick Cheney, who enjoys approval ratings lower than the president’s, is scheduled to attend a Victory rally in Wyoming on Saturday.”

Economy Watch

Alison Vekshin and Robert Schmidt

write for Bloomberg: “The White House and Treasury Secretary Henry Paulson are seeking to scale back a proposal by Federal Deposit Insurance Corp. Chairman Sheila Bair to guarantee mortgages to help stem foreclosures, according to two congressional aides briefed on the matter. “The Bush administration is reluctant to sign off on the plan because of its cost, the two people indicated.”

writes for Politico: “A group of Democrats on the Senate Banking Committee sent President Bush a letter Thursday, accusing the administration of not dedicating ‘the time, attention or resources needed’ to address the foreclosure issue. “In the letter, the senators called on the Treasury Department to work with the FDIC to allow banks to restructure mortgages to keep more people in their homes. “‘Mr. President, time is short,’ the senators wrote. ‘Every day we delay, thousands more families face the specter of losing their homes. We cannot afford another delay.’” Gitmo Watch
William Glaberson writes in the New York Times: “In 2002, John Ashcroft, then the attorney general, announced that a plot to detonate a radioactive bomb in the United States had been foiled and an American citizen, Jose Padilla, detained. The Pentagon has claimed that Mr. Mohamed assisted Mr. Padilla. “After Mr. Padilla was held for three and a half years in a naval brig, the Justice Department abandoned its dirty-bomb claims against him. He was convicted of other charges in 2007.” But wait, there’s more. As Robert Verkaik writes for the Independent: “Senior CIA officers could be put on trial in Britain after it emerged last night that the [British] Attorney General is to investigate allegations that a British resident held in Guantanamo Bay was brutally tortured, after being arrested and questioned by American forces following the terrorist attacks on New York and Washington in 2001. Peter Finn writes in The Washington Post: “A military judge has refused to reconsider the sentence of Osama bin Laden’s former driver, forcing the Bush administration to either release a man it insists is a dangerous terrorist in two months or continue to hold him at Guantanamo Bay as an enemy combatant despite his having served his time after a trial and conviction.” Robert H. Reid writes for the Associated Press: “Iraq wants to eliminate any chance U.S. forces will stay here after 2011 under a proposed security pact and to expand Iraqi legal jurisdiction over U.S. troops until then, a close ally of the prime minister said Thursday. “Those demands, which were presented to U.S. officials this week, could derail the deal — delivering a diplomatic blow to Washington in the final weeks of the Bush administration. “Failure to reach an agreement before year’s end could force a suspension of American military operations, and U.S. commanders have been warning Iraqi officials that could endanger security improvements.”

“The Home Secretary Jacqui Smith has asked Baroness Scotland to consider bringing criminal proceedings against Americans allegedly responsible for the rendition and abuse of Binyam Mohamed, when he was held in prisons in Morocco and Afghanistan. “The development follows criticism of US prosecutors by British judges who have seen secret evidence of torture committed against Mr Mohamed, including allegations his torturers used a razor blade to repeatedly cut his penis. The Attorney’s investigation is expected to include allegations that MI5 colluded in Mr Mohamed’s rendition. Mr Mohamed, 30, an Ethiopian national and British resident, was arrested in Pakistan in 2002, when he was questioned by an MI5 officer. “On Tuesday, Government lawyers wrote to the judges hearing Mr Mohamed’s case against the UK government in the High Court. In the letter they said ‘the question of possible criminal wrongdoing to which these proceedings has given rise has been referred by the Home Secretary to the Attorney general for consideration as an independent minister of justice’. Baroness Scotland has been sent secret witness statements given to the court and public interest immunity certificates for the proceedings.” And in news of another case,

Iraq Watch

Olivier Knox

writes for AFP: “The White House on Thursday charged that politics and posturing in Iraq were delaying a controversial US-Iraq security accord but said it remained ‘hopeful and confident’ about the pact. “Days before the November 4 US elections, spokeswoman Dana Perino said ‘on our side, I don’t think that politics is playing a lot of a role in it’ because both US presidential hopefuls were generally supportive of the accord. “‘On the Iraqi side, I can’t say the same when it comes to internal politics there. And they might even be looking at our domestic politics and trying to game that out, some people, maybe,’ she told reporters.”
Jonathan S. Landay writes for McClatchy Newspapers: “Two years ago, President Bush hailed

Najim al Jabouri as a symbol of success in the battle to curb Iraq’s sectarian violence. Today, Jabouri is a symbol of how uncertain that success is. “Last month, Jabouri quietly left Tal Afar, an ancient city near Iraq’s desert border with Syria where he was the police chief and the mayor, collected his wife and four children and flew to safety in the United States. . . . “His decision underscores the fragility of the relative calm that’s settled on Iraq, obscuring the unresolved ethnic and sectarian tensions, political infighting and anger at the U.S. occupation, economic paralysis and continuing terrorism.” Syria Watch
But as Salon blogger

Syria Comment blogger

Jonathan Karl reports for ABC News that Gen. David Petraeus “proposed visiting Syria shortly after taking over as the top U.S. commander for the Middle East. “The idea was swiftly rejected by Bush administration officials at the White House, State Department and the Pentagon. “Petraeus, who becomes the commander of U.S. Central Command (Centcom) Friday, had hoped to meet in Damascus with Syrian President Bashar al-Assad. Petraeus proposed the trip, and senior officials objected, before the covert U.S. strike earlier this week on a target inside Syria’s border with Iraq.” Glenn Greenwald points out, this is not the exclusive Karl claims. Joshua Landis writes that he “has been writing since August 2008 that Petraeus tried to go to Damascus in the fall of 2007, but was refused permission by the Vice President. It wasn’t the president. (That little bit of info is an SC exclusive told to me by a top intelligence officer.)” Ken Herman blogs for Cox News Service: “President Bush hasn’t held a news conference since July 15. And that one ended with this comment from Bush: ‘OK, I’ve enjoyed it. Thank you very much for your time. Appreciate it.’ “Apparently he didn’t enjoy it and appreciate all that much. He hasn’t had a news conference since then and generally has ignored questions lobbed his way at White House events. . . . “Can we expect a presidential news conference anytime soon?” Not likely. From yesterday’s press briefing > Q. “Dana, looking ahead to the election, you said a while back that the President was trying not to give any press conferences while the campaign was going on, to let the candidates sort of have their own spotlight. When will we hear from the President once the election is over?” :

Peter Finn and Del Quentin Wilber write in The Washington Post: “A federal judge yesterday questioned the motives of Justice Department lawyers for withdrawing allegations linking a Guantanamo Bay detainee to a ‘dirty bomb’ plot in the United States shortly before they were required to hand over exculpatory evidence to the defense. “‘That raises serious questions in this court’s mind about whether those allegations were ever true,’ said U.S. District Judge Emmet G. Sullivan, who is overseeing a lawsuit brought by Binyam Mohammed, 30, a resident of Britain who is challenging his detention at the U.S. military facility in Cuba. Sullivan warned that ‘someone is going to rue the day those allegations were made’ if it turns out that the government had evidence that they were unfounded. . . . “Mohammed said the CIA rendered him to Morocco weeks after he was arrested in Pakistan in April 2002. His attorneys argue that the government’s allegations are based on confessions their client made after his detention and torture in Morocco, where, they say, he was slashed with razors. “‘He parroted what his torturers wanted him to say,’ said Zachary Katznelson, one of Mohammed’s attorneys. ‘All they have are Mr. Mohammed’s own words, and they were extracted at the tip of a razor blade.’ “The government said Mohammed voluntarily confessed to a number of terrorist crimes, including the dirty-bomb plot, in 2004 at Bagram air base in Afghanistan before his transfer to Guantanamo Bay. The government has never acknowledged that he was in Morocco.” Sam Youngman writes for The Hill: “While President Bush has conspicuously stayed on the sidelines in the final days until the election, others close to him are venturing out on behalf of embattled Republican candidates. “First Lady Laura Bush, always a popular draw for Republicans, was in Mississippi on Thursday to stump for Sen. Roger Wicker (R), and on Monday she will do the same for House candidate Brett Guthrie at a rally in Kentucky. “That the first lady is hitting the road while the president stays in Washington speaks volumes to this election season’s dilemma: Republican candidates have to run away from the administration and its policies while still looking for help in races that were considered runaways in once-reliably red states. . . . Jennifer Loven writes for the Associated Press: “Under fire from Democrats and Republicans alike, the White House on Thursday defended giving billions of bailout dollars to banks that plan to reward shareholders and executives — or even buy other banks. “Allowing banks to engage in such normal business activities actually could help loosen lending and revive the sagging economy, said Ed Lazear, chairman of the Council of Economic Advisers. He said the administration would not impose any conditions on banks beyond those required when Congress created the bailout program, which authorized the government to buy stock in financial institutions. . . . “Lazear was put before the cameras in the White House briefing room amid a rising chorus of complaints from lawmakers about the latitude that banks will have when they receive bailout money from Washington. “That bailout was originally sold by the administration as a plan for the government to purchase toxic mortgage-based assets from financial institutions, to get them off their books and inspire the resumption of normal lending. After passage, though, the administration decided the better course would be to devote $250 billion into buying ownership stakes in banks. “With taxpayers’ money flowing into their vaults, banks are going ahead with paying dividends to shareholders, giving bonuses to top executives and acquiring competitors. Lawmakers are asking why banks with the money to do those things need taxpayer-funded help.” this ad- titled Rearview Mirror – that the Obama campaign plans to air heavily in key battleground states this weekend. In the ad, images of Bush keep popping up in the rearview mirrors of a car as road signs outside highlight criticisms of McCain’s economic policy. CBS News: “‘Wonder where John McCain would take the economy? Look behind you,’ an announcer says as the spot opens. Onscreen, a man driving his car is shown looking in his rearview mirror, where he sees Mr. Bush’s face. Cappiello reported that — surprise! — the administration had concluded “that changes it wants to make to endangered species rules before President Bush leaves office will have no significant environmental consequences.” Juliet Eilperin writes: “The federal Bureau of Land Management is reviving plans to sell oil and gas leases in pristine wilderness areas in eastern Utah that have long been protected from development, according to a notice posted this week on the agency’s Web site. NiemanWatchdog.org back in June. Among them: * Are major contracts being let out that have long-term ramifications? And are any of those related to outsourcing? S heldon Alberts writes for the Canwest News Service that Republican presidential candidate John McCain’s camp responded furiously to a new ad from the Barack Obama campaign linking McCain to Bush. Juliet Eilperin wrote in The Washington Post in August that the new rules would “allow federal agencies to decide whether protected species would be imperiled by agency projects, eliminating the independent scientific reviews that have been required for more than three decades.” Juliet Eilperin wrote in The Washington Post: “The Bush administration is on the verge of implementing new air quality rules that will make it easier to build power plants near national parks and wilderness areas.”

 

No Presser for You

Perino: “You’ll probably hear from me that night, and then we’ll see after that.”

Q. “In terms of, you know, a press conference, obviously many of these questions were questions we’d love to direct to him.”

Perino: “How long have you covered the White House, this White House? Do we ever forecast when we’re going to have press conferences? No. And I really don’t think that’s going to change after November 4th. So you’ll just have to keep dressing up everyday, and then we’ll see.”

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CNN reports on homeboys outrage!$$$$

Posted by Lynda on October 28, 2008

Writer imagines other ways to spend war’s $1 trillion

CNN EDT Mon Oct 27th 2008

KNOXVILLE, Tennessee (AP) — When the Sunday morning political pundits began talking last year about the tab for the war in Iraq hitting $1 trillion, Rob Simpson sprang from his sofa in indignation.

“Why aren’t people outraged about this? Why aren’t we hearing about it?” Simpson said. And then it came to him: “Nobody knows what a trillion dollars is.”

The amount — $1,000,000,000,000 — was just too big to comprehend.

So Simpson, 51, decided to embark “on an unusual but intriguing research project” to put the dollars and cents of the war into perspective. He hired some assistants and spent 12 months immersed in economic data and crunching numbers.

The result: a slim but heavily annotated paperback released, “What We Could Have Done With the Money: 50 Ways to Spend the Trillion Dollars We’ve Spent on Iraq.”

Simpson is no geopolitical, macro-economic, inside-the-Beltway expert. He’s an armchair analyst and creative director for an advertising agency, a former radio announcer and music critic in Ontario and a one-time voiceover actor.

His alternative spending choices reflect his curiosity and wit.

He calculates $1 trillion could pave the entire U.S. interstate highway system with gold — 23.5-karat gold leaf. It could buy every person on the planet an iPod. It could give every high school student in the United States a free college education. It could pay off every American’s credit card. It could buy a Buick for every senior citizen still driving in the United States.

“As I started exploring, I was really taken aback by some of the things that can be done, both the absurd and the practical,” Simpson said.

America could double the 663,000 cops on the beat for 32 years. It could buy 16.6 million Habitat for Humanity houses, enough for 43 million Americans.

Now imagine investing that $1 trillion in the stock market — perhaps a riskier proposition today than when Simpson finished the book — to make it grow and last longer. He used an accepted long-term return on investment of 9 percent annually, with compounding interest.

The investment approach could pay for 1.9 million additional teachers for America’s classrooms, retrain 4 million workers a year or lay a foundation for paying Social Security benefits in 65 years to every child born in the United States, beginning today.

It’s too recent to make Simpson’s list, but that $1 trillion could also have paid for the Bush administration’s financial bailout plan, with $300 billion to spare. It might not be enough, however, to pay for the war in Iraq. Nobel Laureate Joseph Stiglitz has recently upped his estimate of the war’s cost to $3 trillion.

Simpson created a Web site companion to his book that lets you go virtual shopping with a $1 trillion credit card. Choices range from buying sports franchises to theme parks, from helping disabled veterans to polar bears.

Click on Air Force One, the president’s $325 million airplane. The program asks: “Quantity?”

“At one point we couldn’t find anybody who actually stuck with it long enough to spend $1 trillion,” Simpson said. “It will wear you out.”

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40 years… and still protesting the same friggin’ things!!

Posted by Lynda on October 24, 2008

 

Speak Your Peace

In 1968, people were willing to take to the streets to tell the country’s leaders, and Presidential candidates, how they felt about the war in Vietnam, civil rights and other key issues. Now, it’s time to channel that same spirit of activism and “Speak Your Peace” by voicing your opinion on the issues that are most important to you, getting those around you to register to vote, advocating for voter protection initiatives and most importantly, exercising your right to vote this Nov. 4th and in every election!!

The Documentary Chicago 10 is well worth the watching– I saw it on PBS Independent Lens. Powerful… and memorable, moving… and looking at times I lived through.

 

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Shall we oust the electorial college?

Posted by Lynda on October 21, 2008

“In 2000, Democratic presidential candidate Al Gore, seen here campaigning in Miami Beach, won more votes nationwide than his opponent, George W. Bush.”

MIT: 10/08

CAMBRIDGE, Mass. – Is the Electoral College, America’s quirky system of choosing its presidents, on its way to extinction?

Americans do not vote directly for president. They vote for slates of electors in each state.

Collectively, the electors are called the Electoral College. Each state gets a number of electors equal to its membership in the House and Senate. (The District of Columbia gets three.)

Minnesota, for instance, gets 10 electors. If Republican candidate John McCain wins the most votes in Minnesota on Nov. 4, the slate of 10 Minnesota McCain electors is chosen.

All but two states (Maine and Nebraska) use the winner-take-all system. This means that the candidate who gets the most popular votes in a state gets all of its electoral votes.

The next president will be the candidate who gets at least 270 of the total 538 electors.

The system can be idiosyncratic. Four times in the nation’s history, the winner of the largest number of popular votes did not win the largest number of electoral votes, and therefore did not become president.

It happened in 2000, when Al Gore got more popular votes, but lost the election to George W. Bush.

It also happened in:

1824, when popular vote winner Andrew Jackson lost the presidency to John Quincy Adams.

1876, when Samuel Tilden lost to Rutherford B. Hayes.

And 1888, when Grover Cleveland lost to Benjamin Harrison.

A relic of the early republic
The system is a relic of the early days of the republic when electors were supposed to be independent agents exercising their judgment in choosing a presidential candidate from a list of several contenders.

Today, electors are party loyalists who almost always vote for their party’s nominee.

On Friday, a group of legal scholars, political scientists, and systems specialists gathered at the Massachusetts Institute of Technology for a conference on the Electoral College. Their focus? How to better engineer the system.

Scrapping the electoral vote system would likely require a constitutional amendment since the Constitution itself created the electoral system (Article II, section 1).

But a group called National Popular Vote says it has found another way.

So far, it has persuaded four Democratic-controlled legislatures (in Maryland, Illinois, Hawaii, and New Jersey) to pass a law which commits those states to give their electoral votes to whomever wins the national popular vote.

The accord takes effect once states with a combined 270 electoral votes agree to it.

The states would pledge to award their electoral votes to the popular vote winner even if he or she had not been the majority choice in their state.

Take Maryland as an example. Say 80 percent of voters in that state cast their ballots for the Democratic presidential candidate. But if a Republican candidate wins the national popular vote, under the state law, Maryland’s 10 electoral votes would go to that candidate.

Posted in 2008 Presidential Election, Accountability, Responsibility & Answerability, Alternet, B'Man's Crooked Election Watch, Barack Obama, Blogs: Information, Politics and Humor, Brave New Films, BuelahFamily & BuelahFriends, Common Dreams, Corruption, Demublican/Repubocrat Party, Dennis Kucinich, Election Reform, Facing South, Fascism, Glenn Greenwald, Jonathon Turley, Lynda, Progressive, Protect America Act, Ralph Nader, RawDawgBuffalo, REAL State of the Union, Ron Paul, Stop Fascism, The Largest Minority, Uncategorized | 4 Comments »

Palin Presidency

Posted by Lynda on October 16, 2008

Let’s have a bit of fun, shall we. Click on everything in the Oval Office once you enter!!

http://palinaspresident.com/

Posted in 2008 Presidential Election, Big Banking, Big Insurance, Big Media, Big Meds, Big Military, Big Money, Big Oil, Big Religion, Big Telecom, BuelahFamily & BuelahFriends, Bush, Corruption, Crazies, Fascism, Federal Reserve, Humor, Lynda, Neocon Criminals, Politics, REAL State of the Union, Sarah Palin, Stop Fascism, Uncategorized, WTF Thursday | 2 Comments »

AIG double dipping with no shame–

Posted by Lynda on October 16, 2008

… and why the hell did gov give them TWO huge bail-outs??? THEN decide to ask questions???

This is a letter from the NY State AG to AIG—- IMO in this situation [the bail-out] this was no time to just friggin’ hand out the $$ THEN decide to ask friggin’ questions.

http://abcnews.go.com/images/Blotter/AIG%20Letter%2010%2015%2008.pdf

Posted in Accountability, Responsibility & Answerability, Alternet, Big Banking, Big Money, Blogs: Information, Politics and Humor, BrassCheckTV, BuelahFamily & BuelahFriends, Bush, Common Dreams, Corruption, Demublican/Repubocrat Party, Facing South, Fascism, Federal Reserve, Glenn Greenwald, Greg Palast, Health, Health Insurance, Lynda, Neocon Criminals, New World Order, OpEdNews, Organizing Notes, Politics, Poverty, REAL State of the Union, ReTHUGlican, Stop Fascism, Uncategorized | 2 Comments »

Riding us over a cliff–

Posted by Lynda on October 15, 2008

from the huffington report–

The New Socialism Is The New Capitalism

QUESTION: What’s the difference between capitalism and socialism according to Henry Paulson?

ANSWER: Socialism is when big government steals from the banks to bail out the people; capitalism is when big government steals from the people to bail out the banks.

At the bottom of the over-leveraged credit tower (where people don’t have the cash to pay their debts) are ordinary erstwhile home owners and mortgage holders who made foolish decisions to buy houses they couldn’t afford and have now lost their homes. Then come the banks that issued the bad mortgages by convincing guileless citizens the prices of their homes could only go up, and variable rate mortgages had no down sides. Then come all the secondary markets whose oblivious denizens bought all the bad paper apparently having no idea what they were buying.

The bailout makes nice noises about the poor saps at the bottom, but proceeds top down, because unless the banks and hedge funds and insurance companies are saved, the whole system crashes (sort of like it already did).

Besides, bailing out the bottom is socialism – can’t have that; while bailing out the banks is capitalism, or the kind of capitalism that lets taxpayers shoulder all the risk and banks keep all the profit. Well, to be sure, with the Democrats whining so much, Paulson has agreed to demand an equity position in the banks he bails so that at least some of the eventual profits, if there ever are any, come back into the Federal Treasury.

But real oversight, regulation, control, ownership by our government over the corporate institutions that precipitated the crisis – that won’t happen. The foolish corporate riders who rode us over the cliff will remain in the saddle while the foolish consumer victims are being pulled from the chasm and prepared for a new round of spending.

Which is to say we are not going to see any recognition that overproduction and over consuming by a capitalist system that manufactures needs rather than goods to sell all the stuff it has to sell to stay afloat is what really lies behind the crisis. Or that capitalism must change its ways – like producing goods we actually need and taking responsibility for bad decisions it makes. On the contrary, the market’s heading up (for a day at least), and the credit pump is being primed so consumers will start spending again, and we can go back to where we were before phase one of the crisis started. Back to spending our way to phase two of the crisis.

The blind greed is already evident in the vicissitudes of the market, where hysterical gloom on Friday is inevitably succeeded by hysterical exuberance on Monday. For all the chaos and sense of impending doom, no fundamental lessons have been learned.

Posted in Accountability, Responsibility & Answerability, Big Banking, Big Insurance, Big Media, Big Meds, Big Military, Big Money, Big Oil, Blogs: Information, Politics and Humor, BuelahFamily & BuelahFriends, Bush, Corruption, Facing South, Fascism, Federal Reserve, Lynda, Neocon Criminals, Poverty, RawDawgBuffalo, ReTHUGlican, Stop Fascism, The Largest Minority, Uncategorized | 4 Comments »

Empire Spending

Posted by Lynda on September 30, 2008

On Wednesday, the House passed a mammoth defense bill by a 392-39 vote. It’s expected to clear the Senate with little difficulty next week.

It was part of a trillion-dollar stop-gap measure to keep programs running through next March, allowing lawmakers to skip town without passing a final budget. The Associated Press reports, “The legislation came together in a remarkably secret process that concentrated decision-making power in the hands of a few lawmakers.”

In keeping with the tradition of recent years, Bush held a gun to his own head and threatened to pull the trigger if his demands weren’t met. According to the AP, “To earn President Bush’s signature rather than a veto, House and Senate negotiators dropped several provisions he opposed. They include a ban on private interrogators in U.S. military detention facilities and what would have amounted to congressional veto power over a security pact with Iraq.”

In other words, Congress also maintained recent tradition, swearing not to give Bush a blank check and then whipping out their pens and signing a blank check.

The number that the House sent to the Senate for “defense” — $612 billion for the coming year — is eye-popping. Imagine a stack of 612,000 million-dollar bills. Quite a pile.

That number’s a sham, however. The budget calls for $68.6 billion for the occupations of Iraq and Afghanistan in 2009. War costs this year totaled $182 billion, according to the Federation of American Scientists.

The House passed the Brobdingnagian spending measure 11 months after George W. Bush vetoed a bill — one passed with a lot of bipartisan support — that would have added $7 billion measly dollars per year to the State Children’s Health Insurance Program, covering 4 million more uninsured children. You’d be hard-pressed to find a clearer sign of national psychosis.

Throw in a bit more than $50 billion for Homeland Security, around $20 billion for the nuclear arsenal in the Department of Energy’s budget, about $10 billion for the Coast Guard, a similar number for foreign “security assistance” and maybe another $125 billion — according to one estimate — in other defense-related programs scattered throughout the federal budget.

Bush also requested $91 billion for the Department of Veterans Affairs in 2009, up from $72 billion just three years ago. A generation of damaged young men and women are going to cost more and more as the years go by — many post-traumatic injuries, for example, don’t manifest themselves for 10 or more years after people get out of combat. In 2000, nine years after the first Gulf War, 56 percent of those who had served in that conflict were receiving disability payments.

But wait, as they say on late-night infomercials, there’s more!

All of this only finances our current military adventures. We’re still paying for Korea and Vietnam and Grenada and Panama and the first Gulf War and Somalia and the Balkans and on and on. Estimates of just how much of our national debt payments are from past military spending vary wildly. Economist Robert Higgs calculated it like this:

I added up all past deficits (minus surpluses) since 1916 (when the debt was nearly zero), prorated according to each year’s ratio of narrowly defined national security spending–military, veterans, and international affairs–to total federal spending, expressing everything in dollars of constant purchasing power. This sum is equal to 91.2 percent of the value of the national debt held by the public at the end of 2006. Therefore, I attribute that same percentage of the government’s net interest outlays in that year to past debt-financed defense spending.

In 2006, he came up with a figure of $206.7 billion for interest payments on past militarism. Add it all up, and we’re talking about at least a trillion dollars in military and homeland security spending. If there were a million-dollar bill, you’d have to stack a million of them to reach a trillion dollars.

Of course, very little of this is “defense.” This is empire spending, pure and simple …

What’s that? You want health care, education, affordable housing, 21st-century infrastructure?

Sorry, we’ve got other priorities.

Posted in Accountability, Responsibility & Answerability, Big Banking, Big Insurance, Big Money, Blogs: Information, Politics and Humor, BuelahFamily & BuelahFriends, Corruption, Fascism, Federal Reserve, Lynda, Stop Fascism, Uncategorized | Leave a Comment »

A Radical Shift for Goldman and Morgan …

Posted by Lynda on September 22, 2008

Actually it isn’t a shift at all–if you review Beaulmans previous post!!!! They were ready and waiting!
review:    Brasscheck TV: The Financial Meltdown Explained

Goldman Sachs and Morgan Stanley, the last big independent investment banks on Wall Street, will transform themselves into bank holding companies subject to far greater regulation, the Federal Reserve said Sunday night, a move that fundamentally reshapes an era of high finance that defined the modern Gilded Age.
The firms requested the change themselves, even as Congress and the Bush administration rushed to pass a $700 billion rescue of financial firms. It was a blunt acknowledgment that their model of finance and investing had become too risky and that they needed the cushion of bank deposits that had kept big commercial banks like Bank of America and JPMorgan Chase relatively safe amid the recent turmoil.
It also is a turning point for the high-rolling culture of Wall Street, with its seven-figure bonuses and lavish perks for even midlevel executives. It effectively returns Wall Street to the way it was structured before Congress passed a law during the Great Depression separating investment banking from commercial banking, known as the Glass-Steagall Act.
By becoming bank holding companies, the firms are agreeing to significantly tighter regulations and much closer supervision by bank examiners from several government agencies rather than only the Securities and Exchange Commission. Now, the firms will look more like commercial banks, with more disclosure, higher capital reserves and less risk-taking.
For decades, firms like Morgan Stanley and Goldman Sachs thrived by taking bold bets with their own money, often using enormous amounts of debt to increase their profits, with little outside oversight.
They were the envy of Wall Street, dominating the industry’s most lucrative businesses, landing headline-grabbing deals and advising companies and governments around the world on mergers, stock offerings and restructurings.
But that brash model was torn apart over the last several weeks as investors lost confidence in the way they made those bets during the recent credit boom, when investment banks expanded with aplomb into esoteric securities, the risks of which were not easily understood.
Over several harrowing days, clients started pulling their money, share prices plunged and these banks’ entire enterprises were brought to the brink.
In exchange for subjecting themselves to more regulation, the companies will have access to the full array of the Federal Reserve’s lending facilities. It should help them avoid the fate of Lehman Brothers, which filed for bankruptcy last week, and Bear Stearns and Merrill Lynch — both of which agreed to be acquired by big bank holding companies.
The decision also raises questions about whether the Federal Reserve will seek to regulate hedge funds, many of the largest of which closely resemble investment banks like Goldman.
Just a year ago investment banks, the titans of global finance, considered bank regulation a millstone to be avoided at all costs. Commercial banks have to subject themselves to restrictions on how much money they can borrow and what kinds of businesses they can be in. Lobbyists for firms like Goldman spent years fending off closer supervision of their business.
As bank holding companies, the two banks, whose shares have lost about half their value this year, will have to reduce the amount of money they can borrow relative to their capital.
That will make them more financially sound but will also significantly limit their profits. Today, Goldman Sachs has $1 of capital for every $22 of assets; Morgan Stanley has $1 for every $30. By contrast, Bank of America’s has less than $11 for every $1 of capital.
JPMorgan Chase acquired Bear Stearns this spring in a fire sale brokered by the federal government, while Bank of America has agreed to buy Merrill Lynch for $50 billion.
As bank holding companies, Morgan and Goldman will have greater access to the discount window of the Federal Reserve, which banks can use to borrow money from the central bank. While they were allowed to draw on temporary Fed lending facilities in recent months, they could not borrow against the same wide array of collateral that commercial banks could. The discount window access for investment banks is expected to be phased out in January.
It will take time for Goldman and Morgan to transform into fully regulated banks because they cannot quickly reduce how much money they borrow relative to their assets. The Fed and the Securities and Exchange Commission have had examiners at investment banks since March, giving regulators huge insight into their operations.
Both banks already have limited retail deposit-taking businesses, which they plan to expand over time. Morgan Stanley had $36 billion in retail deposits as of Aug. 31 and Goldman Sachs had $20 billion in deposits.
“We believe that Goldman Sachs, under Federal Reserve supervision, will be regarded as an even more secure institution with an exceptionally clean balance sheet and a greater diversity of funding sources,” Lloyd C. Blankfein, the chairman and chief executive of Goldman, said in a statement on Sunday night.
John J. Mack, the chairman and chief executive of Morgan Stanley, said: “This new bank holding structure will ensure that Morgan Stanley is in the strongest possible position — with the stability and flexibility to seize opportunities in the rapidly changing financial marketplace.”
In recent days, Morgan Stanley had sought other ways to bolster its capital and had been in advanced talks with China’s sovereign wealth fund and others about raising billions of dollars, people briefed on the matter said Sunday night. It had also been talking about a merger with Wachovia, a large commercial bank based in Charlotte, N.C.
With their transition to operating as bank holding companies, those talks are likely to take a different form, because now Morgan Stanley can buy a commercial bank.
Meeting the Big-Boys:
For decades, one investment bank in Lower Manhattan has churned out a golden list of corporate executives and statesmen, wealthy financiers and nonprofit managers.
In many ways, Goldman Sachs is seen as the financial world’s equivalent of General Electric, the corporate powerhouse, or McKinsey & Company, the management consulting firm. It is a training ground — and finishing school —from which other companies, along with quite a few governments, have frequently plucked their own top leaders.
And it has seeded some of the most successful private investment funds, many of them extending Goldman’s shadow from Greenwich, Conn., to London and beyond.

Goldman claims among its alumni Henry M. Paulson Jr., the current Treasury secretary; Robert E. Rubin, a Treasury secretary under President Bill Clinton and now Citigroup’s chairman; and Mario Draghi, the Bank of Italy’s governor. Jon S. Corzine, New Jersey’s governor, led Goldman for several years. Joshua B. Bolten, the current White House chief of staff, is a Goldman alum, and John A. Thain, the new chairman of Merrill Lynch, was Goldman’s president before he left to help rescue the New York Stock Exchange.
To insiders, all this is a result of Goldman’s elite culture, a sense of close-knit partnership that has endured despite the firm’s decision in 1999 to turn itself into a publicly owned corporation. To detractors, the firm is alternately a cult or a secretive fraternity like Skull and Bones at Yale, one focused on profits and power.
The bottom line on Goldman is that it is stocked with bright people who practically mint money. Even as the implosion of the subprime mortgage market forced many of its rivals to take multibillion-dollar write-downs in the summer of 2007, Goldman reported an increase in profit.
As 2008 progressed, Goldman avoided the deepening economic crisis that consumed two of its rivals – Lehman Brothers and Merrill Lynch. In September, the company reported modest, though diminished, profits for the third quarter, beating expectations.
Morgan Stanley traces its roots back to the House of Morgan, the grandest name on Wall Street. But its last decade of operation has been one of recurrent turmoil.
In 1997, Morgan Stanley merged with Dean Witter, a retail brokerage firm, in the hopes that the reach of Dean Witter’s brokers and the sophisticated stock offerings of Morgan’s investment bankers would combine to create a nationwide powerhouse. The merged company was led by Philip J. Purcell, a Wall Street outsider whose leadership was been marked by a series of legal clashes and bitter internal dissent. Mr. Purcell was forced out in 2005; his place was taken by John J. Mack, a company veteran who had been unceremoniously dumped by Mr. Purcell.
Mr. Mack has revitalized a demoralized firm and achieved progress in weak areas like asset management and brokerage. But by encouraging a newly aggressive attitude toward trading — from his first days as chief executive, he said often and publicly that the firm would deploy its own capital more aggressively and enter higher-growth and riskier areas like mortgages and leveraged loans — he also laid the groundwork for the firm’s next round of trouble, which hit home when the subprime mortgage market melted down in 2007.
In two write-downs in late 2007, Morgan Stanley lowered the value of its subprime holdings by $9.4 billion, one of the largest devaluations on Wall Street. The investment bank announced on Dec. 19 that it would sell a $5 billion stake to the China Investment Corporation, that country’s sovereign wealth fund, to shore up its capital.

For God’s Sake Citizens!!! WAKE-UP!!!
Congress is on the brink of making a one-sided deal to give George W. Bush a blank check — offering nearly (or perhaps more than) a trillion taxpayer dollars to Wall Street to cover its bad debts. That works out to somewhere between $2000 and $5000 from every American family. So what do the taxpayers get in return?
Nothing. No new regulation or oversight to help avoid this kind of crisis in the future. No public interest givebacks to help people whose homes are in the hands of the banks. Perhaps most shockingly of all, the taxpayers get absolutely no share in the profits if and when these finance giants bounce back, even though we are now assuming a great deal of the risk.
This is worse than a bad deal — this isn’t a deal at all. This is a blank check to some of the richest companies in the world.
Congress doesn’t have to agree to a blank check. Instead, it can choose to impose a few sensible conditions on the bailout to ensure that it will be used responsibly. Here are a few suggestions
If the taxpayers are shouldering the risk, the taxpayers should reap any eventual benefits. We accomplish this by giving the government an equity stake in every company we bail out proportionate to the amount we give them.
If we’re paying (more than) our fair share, the CEOs and executives should have to, too. All of the fat cats who got us into this mess should relinquish their stock options and salaries until they start showing us, their investors, that they can once again be profitable. Future salaries should be linked to profitability.
No more campaign contributions from Wall Street executives and PACs. Taxpayer dollars should be used to get our nation out of a crisis. They cannot be used to fund giant, powerful lobby operations that will be used to strong arm Congress into making bad policy.
Better regulations start right now. Wall Street can’t expect to take thousands of dollars out of your paycheck without agreeing to increased transparency and more stringent oversight — the kind that might have helped avoid this mess to begin with.
Bankruptcy judges get broader leeway to help homeowners. Why should we lose our homes so the CEOs can keep theirs?
If Wall Street doesn’t like these conditions, then it is welcome to find private investors to help it out of this debacle. But if the American people are going to take this hit, then we must have a say in the terms of the deal — even if we don’t have an army of high-paid lobbyists at our disposal like they do.

Contact your Congressperson today! Make your voice heard.

TELL THEM–
I strongly urge you not to issue a blank check to the Wall Street giants who have steered our country into financial dire straits. You must address this crisis quickly and prudently. Do not give these companies a dime of taxpayer money unless they agree to the following conditions:
If the taxpayers are shouldering the risk, the taxpayers should reap any eventual benefits. We accomplish this by giving the government an equity stake in every company we bail out proportionate to the amount we give them.
If we’re paying (more than) our fair share, the CEOs and executives should have to, too. All of the fat cats who got us into this mess should relinquish their stock options and salaries until they start showing us, their investors, that they can once again be profitable. Future salaries should be linked to profitability.
No more campaign contributions from Wall Street executives and PACs. Taxpayer dollars should be used to get our nation out of a crisis. They cannot be used to fund giant, powerful lobby operations that will be used to strong arm Congress into making bad policy.
Better regulations start right now. Wall Street can’t expect to take thousands of dollars out of your paycheck without agreeing to increased transparency and more stringent oversight – the kind that might have helped avoid this mess to begin with.
Bankruptcy judges get broader leeway to help homeowners. Why should we lose our homes so the CEOs can keep theirs?
A blank check without these conditions would be nothing more than a reward for bad business practices. If the bailout does not include these conditions, you must oppose it.

Posted in Accountability, Responsibility & Answerability, B'Man's Hypocrite Watch, B'Man's Patriot Watch, B'Man's Rants, Barack Obama, Big Banking, Big Meds, Big Money, Blogs: Information, Politics and Humor, BuelahFamily & BuelahFriends, Bush, Cheney, Common Dreams, Corruption, Demublican/Repubocrat Party, Fascism, Federal Reserve, John McCain, Lynda, National Initiative for Democracy, Neocon Criminals, OpEdNews, PNAC, Politics, Protect America Act, RawDawgBuffalo, REAL State of the Union, ReTHUGlican, Sarah Palin, Stop Fascism, Uncategorized | 1 Comment »

Palin’s Pathetic Pursuits—-

Posted by Lynda on September 19, 2008

Palin saga continues…
Yesterday on the campaign trail…. she was giving a speech, she started with “The Palin/McCain ticket…” Freudian slip there Sarah, do you really consider yourself on the top of the ticket?

It seems the mumbo jumbo about women flocking to McCain because of Palin is exactly that…mumbo jumbo. In the last week Obama has pulled so far ahead of McCain in the women voter category. It is something along the lines of 13% lead in just the white women voter category and rising.

Since McCain announced Palin as his running mate(or according to Palin, top dog with lipstick) Hillary voters flocked to Obama faster than a bird would leave droppings on your freshly washed car.

She is running as a reformer for transparent government. Oopsie someone should have told her that, Team McCain has sent no fewer that 12 lawyers to Alaska to bury the investigation into her abuse of power allegations. Now that reduce spending, transparent governor is refusing to be questioned by that BIpartisan committee, (8 republicans & 4 dems) Her aides are refusing to respond to a subpoena, the first dude is refusing to testify…The results of this will be it ends up costing the Alaskan tax payers probably millions of dollars to investigate this. What once would have been a few days of voluntary testimony has turned into a legal battle to conceal and bury. What exactly is Palin hiding all of a sudden?

From Huffpo:

The growing role of Edward O’Callaghan, who until six weeks ago served as co-chief of the terrorism and national security unit of the U.S. attorney’s office in New York, illustrates just how seriously the McCain campaign is taking the so-called “troopergate” inquiry into Palin’s firing last summer of Walt Monegan, Alaska’s Public Safety Commissioner.
http://www.huffingtonpost.com/2008/09/1 … 27054.html

A terrorism prosecutor was sent to Alaska to muddy up the investigation??? What have we run out of terrorists to prosecute?

Posted in 2008 Presidential Election, Accountability, Responsibility & Answerability, B'Man's Hypocrite Watch, B'Man's Patriot Watch, Big Oil, Blogs: Information, Politics and Humor, BuelahFamily & BuelahFriends, Corruption, Demublican/Repubocrat Party, Fascism, John McCain, Lynda, Neocon Criminals, OpEdNews, Politics, ReTHUGlican, Sarah Palin, Stop Fascism, Uncategorized | 1 Comment »

 
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