We know that the Obama administration will not go after the banksters that created this global financial calamity. It has been thoroughly co-opted by Wall Street's fifth column, who hold most of the important posts in the administration. Europe has even more at stake and has shown somewhat more willingness to take action. Perhaps our only hope for retribution lies there.
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ICE Chief of Staff Charged With Discrimination and Sexually Harassing Male Employees - ... - 0 views
Biden Staff Caught Editing Press Pool Reports - 0 views
Obama nominates Jacob Lew, budget-cutter and ex-banker, to head Treasury - 0 views
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in the article: US President Barack Obama announced the nomination of current White House chief of staff Jacob Lew as treasury secretary Thursday, underscoring the administration's commitment to slashing entitlements and its domination by Wall Street. Lew, a longtime Washington operative and former Wall Street executive, helped negotiate cuts to Social Security with the Reagan administration in 1983, worked to slash social spending in the Clinton administration's Office of Management and Budget (OMB), and served as the Obama administration's point-man in budget-cutting negotiations with congressional Republicans. Prior to joining the Obama administration in 2009, he earned millions of dollars as the chief operating officer of Citigroup's Alternative Investments unit, which made bets against the housing market as it collapsed. Holy shit. That's maybe all one needs to read of this article. That's pretty ridiculous.
How do you know when a president is lying? - 1 views
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Jobs were offered by the White House Chief and Deputy Chief of Staff to clear the field in primary elections, yet President Obama did not know about it? Sounds a little far fetched to me.
How Corporations Buy Congress | BuzzFlash.org - 0 views
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With the November elections quickly approaching, the majority of Americans will be thinking one thing: "Who cares?" This apathy isn't due to ignorance, as some accuse. Rather, working people's disinterest in the two party system implies intelligence: millions of people understand that both the Democrats and Republicans will not represent their interests in Congress. This begs the question: Whom does the two party system work for? The answer was recently given by the mainstream The New York Times, who gave the nation an insiders peek on how corporations "lobby" (buy) congressmen. The article explains how giant corporations - from Wall-mart to weapons manufacturers - are planning on shifting their hiring practices for lobbyists, from Democratic to Republican ex-congressmen in preparation for the Republicans gaining seats in the upcoming November elections: "Lobbyists, political consultants and recruiters all say that the going rate for Republicans - particularly current and former House staff members - has risen significantly in just the last few weeks, with salaries beginning at $300,000 and going as high as $1million for private sector [corporate lobbyist] positions." (September 9, 2010) Congressmen who have recently retired make the perfect lobbyists: they still have good friends in Congress, with many of these friends owing them political favors; they have connections to foreign Presidents and Kings; and they also have celebrity status that gives good PR to the corporations. Often, these congressmen have done favors for the corporation that is now hiring them, meaning, that the corporations are rewarding the congressmen for services rendered while in office, offering them million dollar lobbyist jobs (or seats on the corporate board of directors) that requires little to no work. The same New York Times article revealed that the pay for 13,000 lobbyists currently bribing Congress is a combined $3.5 bil
Marshall Auerback: Memo to Greece: Make War Not Love with Goldman Sachs - 0 views
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Some might believe the term "banksters" is too mean. Surely Wall Street was just doing its job -- providing the financial services wanted by the world. Yes, it all turned out a tad unfortunate but no one could have foreseen that so many of the financial innovations would turn into black swans. And hasn't Wall Street learned its lesson and changed its practices? Fat chance. We know from internal emails that everyone on Wall Street saw this coming -- indeed, they sold trash assets and placed bets that they would crater. The crisis was not a mistake -- it was the foregone conclusion. The FBI warned of an epidemic of fraud back in 2004 -- with 80% of the fraud on the part of lenders. As Bill Black has been warning since the days of the Saving and Loan crisis, the most devastating kind of fraud is the "control fraud," perpetrated by the financial institution's management. Wall Street is, and was, run by control frauds. Not only were they busy defrauding the borrowers, like Greece, but they were simultaneously defrauding the owners of the firms they ran. Now add to that list the taxpayers that bailed out the firms. And Goldman is front and center when it comes to bad apples. Lest anyone believe that Goldman's executives were somehow unaware of bad deals done by rogue traders, William Cohan reports that top management unloaded their Goldman stocks in March 2008 when Bear crashed, and again when Lehman collapsed in September 2008. Why? Quite simple: they knew the firm was full of toxic waste that it would not be able to continue to unload on suckers -- and the only protection it had came from AIG, which it knew to be a bad counterparty. Hence on March 19, Jack Levy (co-chair of M&As) sold over $5 million of Goldman's stock and bet against 60,000 more shares; Gerald Corrigan (former head of the NY Fed who was rewarded for that tenure with a position as managing director of Goldman) sold 15,000 shares in March; Jon Winkelried (Goldman's co-president) sold 20,000 shares. After the Lehman fiasco, Levy sold over $6 million of Goldman shares and Masanori Mochida (head of Goldman in Japan) sold $56 million worth. The bloodletting by top management only stopped when Goldman got Geithner's NYFed to produce a bail-out for AIG, which of course turned around and funneled government money to Goldman. With the government rescue, the control frauds decided it was safe to stop betting against their firm. So much for the "savvy businessmen" that President Obama believes to be in charge of Wall Street firms like Goldman.
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From 2001 through November 2009 (note the date -- a full year after Lehman) Goldman created financial instruments to hide European government debt, for example through currency trades or by pushing debt into the future. But not only did Goldman and other financial firms help and encourage Greece to take on more debt, they also brokered credit default swaps on Greece's debt-making income on bets that Greece would default. No doubt they also took positions as the financial conditions deteriorated-betting on default and driving up CDS spreads. But it gets even worse: An article by the German newspaper, Handelsblatt, ("Die Fieberkurve der griechischen Schuldenkrise", Feb. 20, 2010) strongly indicates that AIG, everybody's favorite poster boy for financial deviancy, may have been the party which sold the credit default swaps on Greece (English translation here). Generally, speaking, these CDSs lead to credit downgrades by ratings agencies, which drive spreads higher. In other words, Wall Street, led here by Goldman and AIG, helped to create the debt, then helped to create the hysteria about possible defaults. As CDS prices rise and Greece's credit rating collapses, the interest rate it must pay on bonds rises-fueling a death spiral because it cannot cut spending or raise taxes sufficiently to reduce its deficit. Having been bailed out by the Obama Administration, Wall Street firms are already eyeing other victims (and for allowing these kinds of activities to continue, the US Treasury remains indirectly complicit, another good reason why one shouldn't expect any action coming out of Washington). Since the economic collapse is causing all Euronations to run larger budget deficits and at the same time is raising CDS prices and interest rates, it is easy to pick off nation after nation. This will not stop with Greece, so it is in the interest of Euroland to stop the vampires now. With Washington unlikely to do anything to constrain Goldman, it looks like the European Union, which is launching a major audit, just might banish the bank from dealing in government debt. The problem is that CDS markets are essentially unregulated so such a ban will not prevent Wall Street from bringing down more countries-because they do not have to hold debt in order to bet against it using CDSs. These kinds of derivatives have already brought down an entire continent -- Asia -- in the late 1990s , and yet authorities are still standing by and basically doing nothing when CDSs are being used again to speculatively attack Euroland. The absence of sanctions last year, when we had a chance to deal with this problem once and for all, has simply induced even more outrageous and fundamentally anti-social behavior. It has pitted neighbor against neighbor -- with, for example, Germany and Greece lobbing insults at one another (Greece has requested reparations for WWII damages; Germany has complained about subsidizing what it perceives to be excessive social spending in Greece). Of course, as far as Greece goes, the claim now is that these types of off balance sheet transactions in which Goldman and others engaged were not strictly "illegal" under EU law. But these are precisely the kinds of "shadow banking transactions" that almost brought down the global financial system 18 months ago. Literally a year after the Lehman bankruptcy -- MONTHS after Goldman itself was saved from total ruin, it was again engaging in these kinds of deals. And it wasn't exactly a low-level functionary or "rogue trader" who was carrying out these transactions on behalf of Goldman. Gary Cohn is Lloyd "We're doing God's work" Blankfein's number 2 man. So it's hard to believe that St. Lloyd did not sanction the activities as well in advance of collecting his "modest" $9m bonus for last year's work.
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Ok, if a literal armed attack on Goldman is too far-fetched, then go after the firm using the full force of the regulatory and legal systems. Close the offices and go through the files with a fine-tooth comb. Issue subpoenas to all non-clerical staff for court appearances. Make the internal emails public. Post the names of all managers and traders on Interpol. Arrest anyone who tries to board a plane, train, or boat; confiscate their passports; revoke their visas and work permits; and put a hold on their bank accounts until culpability can be assessed. Make life at least as miserable for them as it now is for Europe's tens of millions of unemployed workers.
Collateral Murder - 0 views
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A classified US military video depicting the indiscriminate slaying of over a dozen people in the Iraqi suburb of New Baghdad -- including two Reuters news staff.
Goodbye to All That: Reflections of a GOP Operative Who Left the Cult | Truthout - 0 views
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A couple of years ago, a Republican committee staff director told me candidly (and proudly) what the method was to all this obstruction and disruption. Should Republicans succeed in obstructing the Senate from doing its job, it would further lower Congress's generic favorability rating among the American people. By sabotaging the reputation of an institution of government, the party that is programmatically against government would come out the relative winner.
Watch Kal Tak - 7th April 2009 - 0 views
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Kaleem Saadat Former Chief of Air Staff, Lt. Gen. (R) Hamid Nawaz, Senator (R) Akram Zaki, in special episode of Kal Tak Disqualified with Javed Chaudhry.
Watch Pakistan differs with US over drone attacks - 0 views
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Foreign Minister Shah Mehmood Qureshi addressing a joint news conference with visiting US special envoy for Pakistan and Afghanistan Richard Holbrooke and chairman US Joint Chiefs of Staff Admiral Michael Mullen here.
The Quiet Coup - Magazine - The Atlantic - 0 views
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The crash has laid bare many unpleasant truths about the United States. One of the most alarming, says a former chief economist of the International Monetary Fund, is that the finance industry has effectively captured our government-a state of affairs that more typically describes emerging markets, and is at the center of many emerging-market crises. If the IMF's staff could speak freely about the U.S., it would tell us what it tells all countries in this situation: recovery will fail unless we break the financial oligarchy that is blocking essential reform. And if we are to prevent a true depression, we're running out of time.
House Bill Means Fewer Children in Head Start, Less Help for Students to Attend College... - 0 views
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Some 157,000 at-risk children up to age 5 could lose education, health, nutrition, and other services under Head Start, while funds for Pell Grants that help students go to college would fall by nearly 25 percent, under a bill passed by the House that would cut current-year non-security discretionary funding by an average of 14.3 percent. The bill (H.R.1), which would fund the government for the rest of fiscal year 2011, now must be considered by the Senate. [1] H.R. 1 also would kill a program that helps low-income families weatherize their homes and permanently reduce their home energy bills, cut federal funds for employment and training services for jobless workers and for clean water and safe drinking water by more than half, and raise the risk that the WIC nutrition program may not be able to serve all eligible low-income women, infants, and children under age 5. In addition, it would cut funds for the Centers for Disease Control and Prevention by 10 percent, for the Food and Drug Administration by 10 percent, and for the Food Safety and Inspection Service by 9 percent. The House bill does not apply its overall 14.3 percent cut on an across-the-board basis. Some cuts, such as the 6.0 percent reduction in funding for House of Representatives staff salaries and expenses, would be smaller. But many important programs, including some of the ones listed above, would be cut much more to make up the difference. (The table on the next page shows the average size of the cut for programs within the jurisdiction of each subcommittee.) At the same time, H.R. 1 would increase overall funding for security programs (those funded by the Defense, Homeland Security, and Military Construction-Veterans Affairs appropriation bills) by a little less than 1 percent. Also, the 14.3 percent figure is a bit deceiving. To achieve that level of overall cuts for non-security programs for the entirety of 2011, funding for those programs will have to fall on average by nearly one
Prison inmates replace unionized workers in Racine, Wisconsin | The Raw Story - 0 views
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Prison inmates have replaced union workers in Racine County, Wisconsin, thanks to the changes to the states collective bargaining laws that went into effect at the end of June. The Journal Times reported prison inmates will now be able to do tasks such as landscaping, painting, and shoveling sidewalks in the winter that were previously performed by unionized employees. Inmates are not required to do any work for the county, but can receive time off their sentence if they do. Racine County Executive Jim Ladwig said the use of prison labor would not result in any public works staff reductions. "We're gonna have them do landscaping at county buildings, have them pick up trash on the roads," he told local Fox News 6. "So we can use some of the county personnel to do difficult tasks, such as putting in a parking lot at the park." Republican Gov. Scott Walker signed a non-fiscal version of his budget plan into law in March that stripped nearly all collective bargaining rights from Wisconsin public workers, giving officials the power to make many changes affecting workers without formal negotiations. (H/T: Alex Seitz-Wald)
Gladwell on Income Inequality: We're Off the Rails - YouTube - 0 views
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Complete Premium video at: http://fora.tv/conference/new_yorker_festival_2010 Best-selling author Malcolm Gladwell discusses America's dramatically changing notions of wealth and income inequality since the mid-20th century. Gladwell notes that top-earning Americans faced a 91% income tax rate during most of the 1950s. "What's amazing is that, if you even bring this up now, people don't believe you," he says. ----- This excerpt was taken from a program titled "The Magical Year 1975," featuring Malcolm Gladwell. It was recorded in collaboration with the New Yorker Festival, on October 3, 2010. Malcolm Gladwell has been a staff writer at The New Yorker since 1996. He is the author of, most recently, "What the Dog Saw: And Other Adventures," and the Times best-selling books "The Tipping Point: How Little Things Can Make a Big Difference," "Blink: The Power of Thinking Without Thinking," and "Outliers: The Story of Success."
Highly Commendable Motivational Speaker - 1 views
I always believe that self-confidence and good relationship among peers play a significant role in a team's success. That is why when I noticed that the performance of my sale's team declined, I im...
Perfect Way to Boost Employees' Self-Esteem - 1 views
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Are you're Asking Yourself, "Where Can I Find a Notary?" - 2 views
If you are asking yourself "where can I find a notary," we obviously believe the best place is right here on FindNotary. We make finding a notary near you extremely simple. Just search by notary or...
Black Power Brokers Ready to Rise In Tandem With New President - WSJ.com - 0 views
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Seated in his office recently, Mr. Johnson casually pulled out a list that's been circulating over the Internet of rumored Obama cabinet picks. Next to his name was the title secretary of labor. "I was flattered," said Mr. Johnson, before dismissing the speculative document with a laugh. "I am part of the Obama team and I'd want that to continue -- if asked."
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Being known as a top fund-raiser or adviser to Mr. Obama has given African-Americans "the opportunity to build wonderful relationships," says John Rogers, the 50-year-old founder of Chicago-based Ariel Capital Management who has known the president-elect for years.
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Of those hoping for access and government stints, some may be disappointed. Loyalties aside, Mr. Obama, according to people familiar with his thinking, may be constrained in the number of blacks he appoints to avoid any charges of favoring African-Americans.
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Obama the Delegator Picks When to Take Reins - NYTimes.com - 0 views
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He does not stir dissent simply for dissent’s sake, but often employs a Socratic method of discussion, where aides put ideas forward for him to accept or reject. Advisers described his meetings as “un-Clintonesque,” a reference to the often meandering, if engrossing, policy discussions Bill Clinton presided over when he was president.
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But Mr. Obama’s ease belies a more controlling management style. For all the success his campaign has enjoyed with grass-roots organizing, the operation is highly centralized around Mr. Axelrod; David Plouffe, the campaign manager; Robert Gibbs, the communications director; Pete Rouse, his Senate chief of staff; Valerie Jarrett, a longtime friend from Chicago; and a handful of senior advisers that has barely changed since he opened his campaign in January 2007.
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Mr. Obama’s circle of advisers takes seriously his “no drama” mandate. It is a point of pride in his campaign that there have been virtually no serious leaks to the news media — small leaks are immediately investigated — about internal division or infighting. He is a careful reader of daily newspapers and magazines (titles from Foreign Affairs to Maxim are stocked on his campaign plane). He takes his briefing books — three-ring binders filled with political memorandums and policy discussions — to his hotel room or home every night, but aides say how well he reads the materials may depend on what is on ESPN.
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