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The point of all of this is, if you add up all of the MBS-related liability out there, the banks as it stands are facing an Armageddon of claims from all sides. It can't possibly be less than a trillion dollars, and it's probably much, much more. But the Obama administration's current plan is to let them all walk after paying a few shekels apiece into a $20 billion kitty.

[Barring unforeseen events, I'm going to leave this post at the top of the page for today and tomorrow, as I think the events it examines, rather in detail and at length, are vitally important and merit much more attention than they've received] The Obama DOJ's effort to force New York Times investigative journalist Jim Risen to testify in a whistleblower prosecution and reveal his source is really remarkable and revealing in several ways; it should be receiving much more attention than it is.  On its own, the whistleblower prosecution and accompanying targeting of Risen are pernicious, but more importantly, it underscores the menacing attempt by the Obama administration -- as Risen yesterday pointed out -- to threaten and intimidate whistleblowers, journalists and activists who meaningfully challenge what the government does in secret. The subpoena to Risen was originally issued but then abandoned by the Bush administration, and then revitalized by Obama lawyers.  It is part of the prosecution of Jeffrey Sterling, a former CIA agent whom the DOJ accuses of leaking to Risen the story of a severely botched agency plot -- from 11 years ago -- to infiltrate Iran's nuclear program, a story Risen wrote about six years after the fact in his 2006 best-selling book, State of War.  The DOJ wants to force Risen to testify under oath about whether Sterling was his source.

Economic meltdown, pro-democracy revolts, protest camps - it's kicking off everywhere. But was all this catalysed by new social media and technologies as many claimed? Paul Mason, a BBC correspondent who witnessed much of the unrest at first-hand, tells Liz Else that it's a lot subtler than that

TL;DR: To much openness kills effectivenes The relation between effectiveness, openness, participation; critical paper, Bush administration mindset though

If we learned that the government was planning to limit our First Amendment rights, we'd be outraged. After all, our right to be heard is fundamental to our democracy. Well, our free speech rights are under assault -- not from the government but from corporations seeking to control the flow of information in America. If that scares you as much as it scares me, then you need to care about net neutrality. "Net neutrality" sounds arcane, but it's fundamental to free speech. The internet today is an open marketplace. If you have a product, you can sell it. If you have an opinion, you can blog about it. If you have an idea, you can share it with the world. And no matter who you are -- a corporation selling a new widget, a senator making a political argument or just a Minnesotan sharing a funny cat video -- you have equal access to that marketplace.

Lenghty read Spolsky vs. dhh http://en.wikipedia.org/wiki/Joel_Spolsky about the valuation of Facebook and SNS

Science Online 2010, the annual meeting for cutting edge users of Web 2.0 technologies in science, was held last month. It filled the science blogosphere with coverage and allowed far-flung colleagues to meet in person.

Predictions about the appeal of cloud computing were on the money. We increasingly share, communicate, socialize and entertain ourselves with software and media on remote servers rather than on our own computers. But a big catch prevents more of us from investing much time or money in ephemeral digital media or constantly-changing online services: It can be difficult, if not impossible, to grab your stuff and split.

On July 29th, returning from a trip to Europe, Jacob Appelbaum, a lanky, unassuming 27-year-old wearing a black T-shirt with the slogan "Be the trouble you want to see in the world," was detained at customs by a posse of federal agents. In an interrogation room at Newark Liberty airport, he was grilled about his role in Wikileaks, the whistle-blower group that has exposed the government's most closely guarded intelligence reports about the war in Afghanistan. The agents photocopied his receipts, seized three of his cellphones - he owns more than a dozen - and confiscated his computer. They informed him that he was under government surveillance. They questioned him about the trove of 91,000 classified military documents that Wikileaks had released the week before, a leak that Vietnam-era activist Daniel Ellsberg called "the largest unauthorized disclosure since the Pentagon Papers." They demanded to know where Julian Assange, the founder of Wikileaks, was hiding. They pressed him on his opinions about the wars in Afghanistan and Iraq. Appelbaum refused to answer. Finally, after three hours, he was released. Sex, Drugs, and the Biggest Cybercrime of All Time Appelbaum is the only known American member of Wikileaks and the leading evangelist for the software program that helped make the leak possible. In a sense, he's a bizarro version of Mark Zuckerberg: If Facebook's ambition is to "make the world more open and connected," Appelbaum has dedicated his life to fighting for anonymity and privacy. An anarchist street kid raised by a heroin- addict father, he dropped out of high school, taught himself the intricacies of code and developed a healthy paranoia along the way. "I don't want to live in a world where everyone is watched all the time," he says. "I want to be left alone as much as possible. I don't want a data trail to tell a story that isn't true." We have transferred our most intimate and personal information - our bank accounts, e-mails, photographs, ph

The failure of social scientists to seriously question their own ideological and methodological assumptions contributes to the complex interrelationship between global ecological and individual psychological problems. Much of the literature on the tragedy of the commons focuses on saving the global commons through increased centralization and regulation, at the expense of the individual's autonomy and psychological sense of community. "Utopian" speculation in general and anarchist political analysis in particular are necessary correctives to misplaced attempts to merely rearrange the elements of the status quo rather than to radically alter it in a direction more in keeping with both survival and human dignity.

Dear Friends, In two weeks time, on February 18th, 2011, I will be 78. I know you are asking many questions on Twitter and elsewhere about what I am really like. It's something I would love to know, too! One day it will suddenly dawn on us ... maybe. The world situation is too urgent for us now to discuss trivial things, like what I eat for breakfast. We are at a point in human history when we have to wake up and realize that the only people who can save the world are us. Every hour that goes by without us doing anything about it affects us, and affects the world that we love so much.

Richard Gage, member of Architects and Engineers for 9/11 Truth, is interviewed on KMPH Fox 26 in Fresno, California, about the events of September 11, 2001. He has been an architect for over twenty years, and is experienced in steel structures. He, as well as 700 other architects and engineers, calls for a more thorough investigation into the collapses of the World Trade Center Buildings. Topics discussed: Proof of thermite and nano-thermite (explosives) found in WTC dust.All three of the World Trade Center Buildings were brought down by controlled demolition.Building 7s collapse at freefall speed into its own footprint.Fires had never brought down a steel structure before 9/11, and have never brought down one since.Several tons of molten iron at the base of the buildings.Al Qaeda was not responsible for the collapses.Much more! Watch and spread this video!

An Arab country with neither secret police nor censorship is unprecedented in recent decades. Tunisia is inspiring similar demands in Egypt and Jordan. When skeptics wonder if the Revolutions of 2011 would really change anything essential in the region, they would be wise to keep an eye on these two developments in Tunisia, which, if consolidated, would represent an epochal transformation of culture and politics. Arguably, Tunisians are now freer than Americans. The US government thinks our private emails are actually public. The FBI and NSA routinely read our email and they and other branches of the US government issue security letters in the place of warrants allowing them to tap phones and monitor whom we call, and even to call up our library records and conduct searches of our homes without telling us about it. Millions of telephone records were turned over to George W. Bush by our weaselly telecom companies. Courts allow government agents to sneak onto our property and put GPS tracking devices under our automobiles without so much as a warrant or even probable cause. Mr. Obama thinks this way of proceeding is a dandy idea.

The big question, 10 years later, is whether things have improved or worsened for those in the bottom third of the income distribution, the people who clean hotel rooms, work in warehouses, wash dishes in restaurants, care for the very young and very old, and keep the shelves stocked in our stores. The short answer is that things have gotten much worse, especially since the economic downturn that began in 2008.

When we study Marx in my graduate social theory course, it never fails that at least one student will say (approximately), "Class struggle didn't escalate in the way Marx expected. In modern capitalist societies class struggle has disappeared. So isn't it clear that Marx was wrong and his ideas are of little value today?" I respond by challenging the premise that class struggle has disappeared. On the contrary, I say that class struggle is going on all the time in every major institution of society. One just has to learn how to recognize it. One needn't embrace the labor theory of value to understand that employers try to increase profits by keeping wages down and getting as much work as possible out of their employees. As the saying goes, every successful capitalist knows what a Marxist knows; they just apply the knowledge differently. Workers' desire for better pay and benefits, safe working conditions, and control over their own time puts them at odds with employers. Class struggle in this sense hasn't gone away. In fact, it's inherent in the relationship between capitalist employer and employee. What varies is how aggressively and overtly each side fights for its interests.

If, as Lessig conclusively demonstrates, Congress is indifferent to the will of the people and to democratic debate - because it has been captured by monied interests to whose interests it exclusively attends - then the people lose the ability to affect what government does in any realm. It doesn't make much difference which problem you believe is most pressing: this is the dynamic that lies at the heart of it. Inaction on climate issues is due to the power of polluters and energy companies; the power of the private health insurance industry blocks fundamental health-care reform; endless war and civil liberties abuses are sustained by the power of the surveillance and National Security State industries; and a failure to achieve real Wall Street reform is due to the fact that, as Sen. Dick Durbin amazingly acknowledged about the institution in which he serves, "the banks frankly own the place." Without finding an effective way to address that overarching problem, the only recourse for citizens becomes either passive acceptance of their powerlessness (i.e., apathy and withdrawal) or disruption and unrest fomented outside of the electoral system (the driving ethos of OccupyWallStreet).

It's hard to think of another time when there has been such a gulf between intellectuals and activists; between theorists of revolution and its practitioners. Writers who for years have been publishing essays that sound like position papers for vast social movements that do not in fact exist seem seized with confusion or worse, dismissive contempt, now that real ones are everywhere emerging. It's particularly scandalous in the case of what's still, for no particularly good reason, referred to as the 'anti-globalization' movement, one that has in a mere two or three years managed to transform completely the sense of historical possibilities for millions across the planet. This may be the result of sheer ignorance, or of relying on what might be gleaned from such overtly hostile sources as the New York Times; then again, most of what's written even in progressive outlets seems largely to miss the point-or at least, rarely focuses on what participants in the movement really think is most important about it. As an anthropologist and active participant-particularly in the more radical, direct-action end of the movement-I may be able to clear up some common points of misunderstanding; but the news may not be gratefully received. Much of the hesitation, I suspect, lies in the reluctance of those who have long fancied themselves radicals of some sort to come to terms with the fact that they are really liberals: interested in expanding individual freedoms and pursuing social justice, but not in ways that would seriously challenge the existence of reigning institutions like capital or state. And even many of those who would like to see revolutionary change might not feel entirely happy about having to accept that most of the creative energy for radical politics is now coming from anarchism-a tradition that they have hitherto mostly dismissed-and that taking this movement seriously will necessarily also mean a respectful engagement with it. I am writing