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Paul Merrell

CT Soldier Demands Apology From Karl Rove; Rove Says No Apology Needed For Iraq War - H... - 0 views

  • yan Henowitz says he was 20 years old and a medic with the 2nd Battalion of the 7th Infantry Regiment when he saw his friends “torn apart and Iraqi children screaming for their parents as indiscriminate shrapnel scarred them and us in ways that we will never know,” he told Karl Rove Tuesday at the University of Connecticut in Storrs. “Take responsibility and apologize for your decision in sending a generation to lose their humanity” and “apologize to the millions of fathers and mothers who lost their children on both sides” of the war, Henowitz demanded. WATCH: Karl Rove Calls Sen. Elizabeth Warren 'Pocahontas' Karl Rove calls Sen. Elizabeth Warren “Pocahontas” during an event on UConn's Storrs campus Tuesday evening. Karl Rove calls Sen. Elizabeth Warren “Pocahontas” during an event on UConn's Storrs campus Tuesday evening. See more videos Rove, former deputy chief of staff and senior adviser to President George W. Bush, who was in Storrs at the invitation of UConn College Republicans, thanked Henowitz for his service and said he was sorry for “what you went through,” but said he would not apologize for the war.
  • “It was right to remove Saddam Hussein from power. ... We should be proud of what we were able to do in Iraq and we should be sorry that we left them alone, because when we left them, things deteriorated,” Rove said.
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    Over a million killed in Iraq and that country is in worse turmoil than ever, but Karl Rove is still unrepentant, says that removing Saddam from power was worth it. That war was a highly illegal war of aggression even by the Bush II Administration's own justifications. "Regime change" is not a lawful casus belli. 
Paul Merrell

If Elizabeth Warren Were Running for President, This Would Be Her Agenda | The Nation - 0 views

  • If Elizabeth Warren ran for president, a key part of her campaign—if not the centerpiece—would likely involve how to restructure the financial sector in a less dangerous and more productive way. Dodd-Frank was by many accounts a good start, but it’s clear the economy is still over-financialized and too-big-to-fail banks continue to pose an existential threat. Warren isn’t running for president, but she unveiled that exact agenda in a sweeping speech Wednesday in a conference at the Levy Institute in Washington. It advocated an array of specific, often ambitious policy proposals, many of which have circulated in Washington for years and that Warren, at various times, has already called for. But tied together in one place, and packaged as a clear call for structural and not just technocratic changes, a blueprint emerged for how Warren thinks Democrats should attack continued financial reform. Whether purposeful or not, the speech was timed exactly to start of Hillary Clinton’s 2016 presidential campaign.
  • Her ideas fit into four basic categories: first, getting tougher on bad financial actors, particularly big banks, and presenting them with actual legal accountability for malfeasance. Second, Warren outlined how to change the basic structure of the country’s largest financial institutions so their very existence doesn’t threaten the economy nor taxpayer money via inevitable bailouts. Third, she outlined how to change tax policies that incentivize financial risk-taking and instability. And finally, Warren called for tougher regulations on the shadow-banking sector that was a huge contributor to the 2008 crash and which remained largely untouched by Dodd-Frank.
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    Nice set of points for financial reform activists to use in forcing Hillary to take positions.
Paul Merrell

M of A - US Military In Iraq Circulates Fake Islamic State Document - Media Fall For it - 0 views

  • It seems that the U.S. military is propagandizing against the Islamic State by distributing fake Islamic State documents. This, in effect, will make the Islamic State look better than it is. Iraqi Forces Fighting for Ramadi Make Their Way Toward City Center In a telephone briefing on Tuesday, [Col. Steven H. Warren, the United States military spokesman in Baghdad,] said that coalition forces had recovered Islamic State leaflets in the nearby city of Falluja urging its fighters — if they lose control of the city — to impersonate Iraqi security forces and commit atrocities. “Some acts that they’re instructed to do on this document include blowing up mosques, killing and torturing civilians and breaking into homes while dressed as I.S.F. fighters,” Colonel Warren said, referring to Iraqi security forces. “They do all this to discredit the I.S.F.” Colonel Warren called the instructions in the leaflets “the behavior of thugs, behavior of killers, the behavior of terrorists.” Colonel Warren also tweeted the "Islamic State leaflet" and its translation: COL Steve Warren Verified account @OIRSpox ISIL fighters ordered to dress as ISF and commit atrocities before fleeing Fallujah. [Photo of the document and its translation] 7:30 AM - 22 Dec 2015"
  • The document was immediately identified as fake by Aymenn Jawad Al-Tamimi, a well known researcher who curates a large collection of all published Islamic State documents: Aymenn J Al-Tamimi @ajaltamimi Aymenn J Al-Tamimi Retweeted COL Steve Warren Dear Col. Steve Warren @OIRSpox, this purported 'Fallujah withdrawal' document is an obvious fake: 7:43 AM - 22 Dec 2015 Al Tamimi gives two main reasons why he believes the document is fake: the document allegedly from Fallujah is under an IS letter head from Ninawa province. Fallujah is in Anbar province, the document refers to the government militia with its real honorable name "Hashd Sha'abi" while the regular derogatory Islamic State term for the militia is "Hashd Rafidi". Another writer with deep experience in the region also believes that the document is fake: Anand Gopal @Anand_Gopal_ Anand Gopal Retweeted COL Steve Warren Here’s a US military spokesman circulating fake ISIS documents as propaganda 9:41 AM - 22 Dec 2015
  • An Iraq security analyst concurs: Alex M. @Alex_de_M COL Warren needs a chat with his G2 section. The leaflets are pretty obviously fakes... 9:45 AM - 22 Dec 2015 One would think that the behavior the Islamic State displays in its own propaganda videos is argument enough to condemn it. By using obviously fake IS documents to condemn the Islamic State the U.S. military creates the opposite effect. That the U.S. needs fake evidence to let the Islamic State look bad actually makes it look better than it is. This not only in the eyes of its followers.
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  • Update Dec 23, 3:45am The NYT, quoted above, has now changed its piece without issuing a correction note. The text now says: In a telephone briefing on Tuesday, Colonel Warren said that coalition forces had recovered what he said were Islamic State leaflets in the nearby city of Falluja urging its fighters — if they lose control of the city — to impersonate Iraqi security forces and commit atrocities.The authenticity of the leaflets could not be independently confirmed, and experts on the Islamic State were debating their validity after the coalition publicized them on Tuesday. The NYT first repeated the military propaganda of the fake leaflet without any doubt or checking of its authenticity. It now says that there is a "debate" about the genuineness of the document. There is no "debate". The experts all say that the document is fake. This is - if at all - a "debate" about the earth being flat. It is another low that the NYT can even not admit that it has again been taken in by military's propaganda.
Paul Merrell

Bankers Left Reeling as Senator Elizabeth Warren Grills Financial Regulators - 0 views

  • It was an artful if devastating performance. In just seven minutes, Senator Elizabeth Warren from Massachusetts signaled the arrival of what appears destined to be a powerful force on Capitol Hill. At the influential Banking Committee, Senator Warren exposed profound weaknesses with current market conduct and prudential regulation paradigms. She did so by focusing on two apparently simple but interlinked (and exceptionally complex) questions associated with the governance of major financial firms: can or should too complex institutions be broken up? First, she asked, when was the last time a major Wall Street bank was successfully litigated against to a conclusion?
  • Second, Senator Warren wondered, why was it that these same banks were trading below asset value?
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    7:39 minutes of tragi-comedy. Life on the Senate Banking Committee is going to be much more interesting with Liz Warren asking questions. 
Paul Merrell

Elizabeth Warren and Bernie Sanders get off Israel bandwagon, for once - Mondoweiss - 0 views

  • The Senate is warning Palestinians against undertaking any “negative” unilateral actions re Israel at the United Nations, and look who isn’t signing on to the letter that AIPAC has endorsed: Elizabeth Warren of Massachusetts. Folks have been pressing Warren and her staffers not to sign this letter – and she didn’t. Neither did Bernie Sanders of Vermont. Maybe the national publicity and pressure on these progressives over their Israel-Palestine positions moved them? Maybe they’re tacking ahead of 2016? Here are the 12 non-signers, from both parties: Bernard Sanders (I), Bob Corker (R), Elizabeth Warren (D), Harry Reid*, Jeff Sessions (R), John D. Rockefeller IV*, Lisa Murkowski (R), Patrick J. Leahy* (D), Rand Paul (R), Tammy Baldwin (D), Tom Coburn (R), Tom Harkin* (D). (*Majority leader/ senior committee chairs who don’t usually subscribe to these things) Is this the beginning of a Senate “refuser caucus”? We can only hope
  • The Senate is warning Palestinians against undertaking any “negative” unilateral actions re Israel at the United Nations, and look who isn’t signing on to the letter that AIPAC has endorsed: Elizabeth Warren of Massachusetts. Folks have been pressing Warren and her staffers not to sign this letter – and she didn’t. Neither did Bernie Sanders of Vermont. Maybe the national publicity and pressure on these progressives over their Israel-Palestine positions moved them? Maybe they’re tacking ahead of 2016? Here are the 12 non-signers, from both parties: Bernard Sanders (I), Bob Corker (R), Elizabeth Warren (D), Harry Reid*, Jeff Sessions (R), John D. Rockefeller IV*, Lisa Murkowski (R), Patrick J. Leahy* (D), Rand Paul (R), Tammy Baldwin (D), Tom Coburn (R), Tom Harkin* (D). (*Majority leader/ senior committee chairs who don’t usually subscribe to these things) Is this the beginning of a Senate “refuser caucus”? We can only hope.
  • J Street supported the letter, right alongside AIPAC. Another sign of JStreet as “AIPAC Lite” giving liberal cover for the Israel lobby agenda. The text of the letter is up at New Hampshire Senator Kelly Ayotte‘s site. It urges the State Department to keep Hamas from rebuilding its military capabilities and governing Gaza, and to prevent the Palestinian Authority from going to the International Criminal Court.
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  • J Street supported the letter, right alongside AIPAC. Another sign of JStreet as “AIPAC Lite” giving liberal cover for the Israel lobby agenda. The text of the letter is up at New Hampshire Senator Kelly Ayotte‘s site. It urges the State Department to keep Hamas from rebuilding its military capabilities and governing Gaza, and to prevent the Palestinian Authority from going to the International Criminal Court.
  • The full text of the Senators’ letter is below:
  • The full text of the Senators’ letter is below:
Paul Merrell

Did Elizabeth Warren Just Change Her Tune on Running for President? | The Nation - 0 views

  • It is certainly possible Warren just got sloppy during the umpteenth iteration of this question, and used looser language than normal while speaking with a non-political reporter. But it’s also true that she’s been increasingly explicit in her criticisms of the Democratic establishment and its relationship with big banks. She told Salon last week that the Obama administration “protected Wall Street. Not families who were losing their homes. Not people who lost their jobs. And it happened over and over and over.”
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    So were I a Democratic party line voter, would I prefer Hillary or Elizabeth Warren? Or better yet, would We the People like to see a faceoff in the Democratic Primary between an anti-bankster and a bankster co-conspirator? 
Paul Merrell

Elizabeth Warren Denounces Travesty of Government "Settlement" With Goldman Sachs - 0 views

  • Criticism of US government leniency on Wall Street legal transgressions is now being covered widely - even by trade publications such as the National Mortgage Professional Magazine. On January 18, the trade publication ran an article about Sen. Elizabeth Warren (D-Massachusetts) condemning the most recent US government settlement with a "too-big-to-fail" financial firm, in this case Goldman Sachs, for illegal abuse of the mortgage market: Sen. Warren used her Facebook page to denounce the agreement, noting that the settlement sum was “barely a fraction of the billions investors lost” while arguing that Goldman Sachs was not properly penalized for its actions. “That’s not justice – it’s a white flag of surrender,” she wrote. “It’s time to end this farce. These companies think they’re above the law – and too many government officials go along with them. A first step would be to pass the bipartisan Truth in Settlements Act to shine more light on these backroom deals. A second step would be to get government officials who have the backbone to fight back.” Warren’s comments were echoed by the nonprofit U.S. Public Interest Research Group (U.S. PIRG).
  • The publication, which is geared toward professionals in the mortgage industry, also tellingly noted, "In announcing the [$5.1 billion] settlement, Goldman Sachs made no admission of guilt or error, and no executive from the New York-based financial giant will face criminal or civil charges."  As we have noted in this space many times, the seemingly large financial penalties levied on Wall Street firms for illegal activity are not so large, in the context of those firms' budgets: The fines are generally less than the revenue that the firms generated by engaging in the often fraudulent practices in the first place. As The Huffington Post noted in a report on the recent settlement,  About $2.4 billion of the settlement is in the form of a government penalty. The bank has said that it securitized about $125 billion of home loans between 2005 and 2008, of which about $23 billion eventually soured. The penalty represents about 10 percent of investors’ losses. Goldman can deduct the rest of the settlement, about $2.7 billion, from its future tax bills, according to a person familiar with the accord. The bank said the settlement will reduce its fourth-quarter profit by about $1.5 billion. It reports earnings next week.
  • Goldman Sachs is being let off the hook for 90 percent of the investor losses for which it was primarily responsible. Furthermore, as is consistent with past settlements with Wall Street firms by the Department of Justice and other executive agencies, much of the fine is tax-deductible. As BuzzFlash has noted before, this rewards Wall Street financial companies by allowing them to factor in settlements with the government for illegal behavior as nothing more than the cost of doing business. Former Attorney General Eric Holder, who left office last year to resume a six-figure-salary partnership at the DC corporate law firm of Covington & Burling (which defends many of the firms that Holder was responsible for prosecuting as attorney general), infamously stated to a US Senate committee in March of 2013: I am concerned that the size of some of these institutions becomes so large that it does become difficult for us to prosecute them when we are hit with indications that if we do prosecute - if we do bring a criminal charge - it will have a negative impact on the national economy, perhaps even the world economy.  Apparently, under current Attorney General Loretta Lynch, that legal exemption for too-big-to-fail financial firms and their executives has not changed.
Paul Merrell

FinCEN Files: Bernie Sanders and Elizabeth Warren join watchdog groups in calling for b... - 1 views

  • Prominent U.S. senators Bernie Sanders and Elizabeth Warren have joined watchdog groups and banking regulators in calling for a crackdown on dirty money and banks that profit from it in the wake of the FinCEN Files investigation. Sanders and Warren, former candidates for the 2020 Democratic presidential nomination who both inspired strong support on the left, called for tougher consequences for banks and their executives who move money linked to crime and corruption.
  • Sanders’ messages came less than a day after the International Consortium of Investigative Journalists’ release of FinCEN Files, a global investigation revealing how leading banks allowed trillions of dollars in tainted money to flow freely through the financial system. Based on more than 2,100 secret reports filed by banks to the U.S. Department of Treasury and obtained by BuzzFeed News, the investigation included more than 400 journalists in 88 countries around the world. Warren also called for a crackdown on banks that are complicit in the spread of dirty money, highlighting policy proposals that would strengthen the ability of law enforcement to combat white collar crime. Warren called for the creation of a new unit in the U.S. Treasury Department to investigate financial crimes linked to the flow of dirty money. She also pushed for the passage of the Ending Too Big to Jail Act, a law she proposed in 2018 that would make it easier to hold Wall Street executives criminally accountable when the banks they lead engage in illegal activity.
  • Elizabeth Rosenberg, a former sanctions official for the U.S. Treasury Department, said the revelations exposed the national security threats posed by banks’ laxity. “The FinCEN Files illustrate the alarming truth that an enormous amount of illicit money is sloshing around our financial system, and that U.S. banks play host and facilitator to rogues and criminals that represent some of America’s most insidious national security threats,” Rosenberg told the Wall Street Journal. Rosenberg urged the passage of stronger transparency laws that crack down on the use of anonymous companies, which are often used for money laundering.
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  • Legislation that would end shell companies by creating a national registry of the real, flesh-and-blood owners of all U.S. companies enjoys overwhelming support in both parties, but remains stalled in the U.S. Senate due to a packed schedule and partisan dysfunction, ICIJ reported in August.
Gary Edwards

Warren Buffett Explains How The Bailout Is Crushing Healthy Companies - 0 views

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    ".....There's a lot of talk about how the bailouts are creating moral hazard and rewarding bad behavior. But those are pretty abstract ideas, the kind of things people wonder whether or not we can afford to worry about while the economy is tanking. Sure we'll pay a long run price  for screwing up the market's discipline but in the long run we're all dead. So forget "moral hazard" and just look at Warren Buffett's description of what is happening to his home construction business, Clayton Homes. Clayton, which makes pre-fab homes, also has a lending business. Surprisingly, Clayton hasn't been crushed by the markets because it maintained high lending standards and doesn't have a balance sheet overflowing with defaulting loans..." And the solution is? Buffett is/was a successful capitalist. Yet he fully supported a socialist takeover of the government. Obama's campaign rhetoric was that of a hard core socialist declaring war on constitutional capitalism. And there was Buffett, standing at Obama's side, arguing that all capitalist should be supporting the systemic change Obama socialism promised to deliver. And now Buffett's complaining? What is it about socialism that attracted Buffett in the first place? Did he really think the socialists he worked to elect would pour tax payer debt money into the capitalists hands, and let the markets go their merry way? The socialist seeks to control the means of production, limit the rights of property ownership, and redistribute the wealth created by capitalist. Socialism does not have a wealth creation model. Redistribution of wealth and control over the means of production is something Buffett supported with both his money and his personal assurances to constitutional capitalist everywhere. Yet here we are. Exactly where Buffetts advice and pleas intended us to be. And now he's complaining? Buffett didn't like the belief in big government programs, big government spending and crisis interventionism of Bush's compasionat
Gary Edwards

The Daily Bell - Thomas DiLorenzo: More on the Myth of Lincoln, Secession and the 'Civi... - 1 views

  • The state cannot tell the people that it is bankrupting them and sending their sons and daughters to die by the thousands in aggressive and unconstitutional wars so that crony capitalism can be imposed at gunpoint in foreign countries, and so that the military-industrial complex can continue to rake in billions. That might risk a revolution. So instead, they have to use the happy talk of American virtue and American exceptionalism, the "god" of democracy," etc.
  • Specifically, he repeated the "All Men are Created Equal" line from the Gettysburg Address to make the case that it is somehow the duty of Americans to force "freedom" on all men and women everywhere, all around the globe, at gunpoint if need be. This is the murderous, bankrupting, imperialistic game that Lincoln mythology is used to "justify."
  • Lincoln spent his entire life in politics, from 1832 until his dying day, as a lobbyist for the American banking industry and the Northern manufacturing corporations that wanted cheaper credit funded by a government-run bank.
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  • No member of the Whig Party was more in bed with the American banking establishment than Lincoln was, according to University of Virginia historian Michael Holt in his book on the history of the American Whig party.
  • Bank of the United States
  • The Whig Party "had no platform to announce," Masters wrote, "because its principles were plunder and nothing else." Lincoln himself once said that he got ALL of his political ideas from Henry Clay, the icon and longtime leader of the Whig Party.
    • Gary Edwards
       
      Nice insult.  But watch how the interviewer responds; "Thanks for the insight".  These guys are funny!
  • I don't usually answer "when did you stop beating your wife"-type questions since they always come from people with I.Q.s in the single digits.
  • Thanks for the insights
  • War is always destructive to a nation's economy regardless of whether it wins or loses the war.
  • War is the opposite of capitalism.
  • Capitalism is a system of peaceful, mutually-advantageous exchanges at market prices based on the international division of labor.
  • War destroys the international division of labor and diverts resources from peaceful, capitalistic exchange to death and destruction.
  • However, there are always war profiteers – the people who profit from selling and financing the military. One doesn't need to invent a conspiracy theory about this: War profiteering is war profiteering and has always existed as an essential feature of all wars.
  • "American exceptionalism" did not become a tool of American imperialism until AFTER the Civil War.
  • British intellectuals like Lord Acton understood and wrote about how the result of the war would be a US government that would become more tyrannical and imperialistic.
  • Knights of the Golden Circle
  • Davis was not a dictator. He had a lot of help losing the war, especially from his generals who insisted on the Napoleonic battlefield tactics they were taught at West Point and which had become defunct because of the advent of more deadly military technology by the middle of the nineteenth century.
  • One of his biggest failures was waiting until the last year of the war to finally do what General Robert E. Lee had been arguing from the beginning – offering the slaves freedom in return for fighting with the Confederate Army in defense of their country.
  • eaceful secession is the only way out of the new slavery for the average American, and it will only happen if we have a president who is more like Gorbachev than Lincoln.
  • The union of the founders was voluntary, and several states reserved the right to withdraw from the union in the future if it became destructive of their rights. Since each state has equal rights in the union, this became true for all states.
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    Thank you Thomas DiLorenzo for having the courage to set the record straight.  IMHO, Lincoln should be remembered for freeing the slaves and standing up to the International Bankster Cartel and Wall Street.  But what he did to the USA Constitution and the Bill of Rights was an unprecedented assault on individual liberty.  Good thing the guy could write beautifully on liberty and freedom because his actions amounted to a historic assault on everything the founding fathers held near and dear. excerpt:    "confronting academic "Lincoln revisionism." "Who was Lincoln really and why have you spent so much of your career trying to return Lincoln's academic profile to reality? Thomas DiLorenzo: Lincoln mythology is the ideological cornerstone of American statism. He was in reality the most hated of all American presidents during his lifetime according to an excellent book by historian Larry Tagg entitled The Unpopular Mr. Lincoln: America's Most Reviled President. He was so hated in the North that the New York Times editorialized a wish that he would be assassinated. This is perfectly understandable: He illegally suspended Habeas Corpus and imprisoned tens of thousands of Northern political critics without due process; shut down over 300 opposition newspapers; committed treason by invading the Southern states (Article 3, Section 3 of the Constitution defines treason as "only levying war upon the states" or "giving aid and comfort to their enemies," which of course is exactly what Lincoln did). He enforced military conscription with the murder of hundreds of New York City draft protesters in 1863 and with the mass execution of deserters from his army. He deported a congressional critic (Democratic Congressman Clement Vallandigham of Ohio); confiscated firearms; and issued an arrest warrant for the Chief Justice when the jurist issued an opinion that only Congress could legally suspend Habeas Corpus. He waged an unnecessary war (all other countries ended slavery
Paul Merrell

New Book on CIA Master-Plotter Dulles, Sneak Peek: Part 3 - WhoWhatWhy - 0 views

  • No one can possibly understand the precarious state of American democracy today without scrutinizing the often secret path the country was taken on by those in power from the 1950s to the present.Among the elemental figures in forging that path was Allen Dulles.He was the most powerful, and, it appears — the most sinister — director of the Central Intelligence Agency. Given that outfit’s history, that’s some accomplishment.Dulles’s job, simply put, was to hijack the US government to benefit the wealthy.Studying how this worked is a worthwhile pursuit. That’s why we decided to excerpt a few parts of David Talbot’s new Dulles biography, The Devil’s Chessboard.In part one of our excerpts, we looked at indications that Lee Harvey Oswald was no rogue “lone nut” but in fact a man with strong connections to the American national security apparatus. We also looked at Allen Dulles’s highly suspicious behavior around the time of the assassination — a time when he was ostensibly in retirement, having been fired two years earlier by President Kennedy. And we saw how determined Dulles was in advancing the notion that Oswald had been Kennedy’s killer, and had acted alone.In part two, we focused on the Warren Commission, the body “above suspicion” that was supposed to investigate Kennedy’s death and report its findings to the public. We see the irrepressible Allen Dulles, who should by almost any standard have been considered a possible suspect for a role in the assassination, instead appointed to the Commission. And we see how he became the leading figure in guiding the “probe,” along with a network of individuals whose loyalties were clearly to him and to the American establishment, but certainly not to the truth — or to the late President.
  • Below, in part three, we are treated to a detailed account of the Warren Commission’s “investigation” as the fraud that it was. Complete with leaks to influence public opinion, cooperative news organizations and journalists, cover-up artists and the odd person of conscience, this charade deserves much more attention because it shows the extent to which we are manipulated — and others forced to go along to get along. There’s one commission staffer with a conscience, but he gets a pretty clear warning to back off.
Gary Edwards

Arthur B. Laffer: Class Warfare and the Buffett Rule - WSJ.com - 0 views

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    Reagan economist Arthur Laffer eviscerates the phony socialist investor Warren Buffett.  Totally!!!!  Beautifully done too.  The phony Buffett is fully exposed, and numbers are staggering.  You gotta love this! excerpt: The "Buffett Rule" would not tax the vast majority of his shielded income, including either his unrealized capital gains, which are currently taxed at zero percent, or charitable contributions, which are tax deductible. If the "Buffett Rule" were applied as President Obama proposes, then Mr. Buffett's federal tax bill would have been $14.4 million, rather than the $6.9 million he actually paid. As a fraction of his true income, his effective tax rate would only have risen from 6/100ths of 1% to 12/100ths of 1%. Mr. Buffett's donation to the Gates Foundation goes to the heart of my critique of his public call for higher tax rates on the rich. Just look at the second contractual condition for his ongoing pledge to the Gates Foundation: "The foundation must continue to satisfy the legal requirements qualifying Warren's gift as charitable, exempt from gift or other taxes." In other words, if his gift weren't tax sheltered he wouldn't give it. So much for "shared sacrifice." Incidentally, I'm not the first to question Mr. Buffett's commitment to "shared sacrifice" in balancing the federal budget. In a 2007 CNBC interview, when asked why he shelters his money through tax-free strategies rather than writing big checks to Uncle Sam, Mr. Buffett responded: "I think that on balance the Gates Foundation, my daughter's foundation, my two sons' foundations will do a better job with lower administrative costs and better selection of beneficiaries than the government." So Mr. Buffett thinks he and his family can put their money to better use than the government can. I guess he's really not so different from the rest of us after all.
Gary Edwards

Harvey Golub: My Response To Buffett And Obama - WSJ.com - 1 views

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    Harvey is CEO of American Express:  This is his rant and it's awesome!   ......... Over the years, I have paid a significant portion of my income to the various federal, state and local jurisdictions in which I have lived, and I deeply resent that President Obama has decided that I don't need all the money I've not paid in taxes over the years, or that I should leave less for my children and grandchildren and give more to him to spend as he thinks fit. I also resent that Warren Buffett and others who have created massive wealth for themselves think I'm "coddled" because they believe they should pay more in taxes. I certainly don't feel "coddled" because these various governments have not imposed a higher income tax. After all, I did earn it. Others could pay higher taxes if they choose. They could voluntarily write a check or they could advocate that their gifts to foundations should be made with after-tax dollars and not be deductible. They could also pay higher taxes if they were not allowed to set up foundations to avoid capital gains and estate taxes. What gets me most upset is two other things about this argument: the unfair way taxes are collected, and the violation of the implicit social contract between me and my government that my taxes will be spent-effectively and efficiently-on purposes that support the general needs of the country. Before you call me greedy, make sure you operate fairly on both fronts.
Paul Merrell

Progressives put Sanders ahead of Clinton - 0 views

  • November 21, 2014
  • Sen. Elizabeth Warren is progressives' runaway favorite for president in 2016, with Sen. Bernie Sanders in second place, a new poll shows.Sanders, I-Vt., who says he's considering a presidential run, edged out former Secretary of State Hillary Rodham Clinton, 24 percent to 23 percent, according to Democracy for America's first 2016 Presidential Pulse poll of its members.More than 42 percent of respondents wanted Warren to run for president, although she has said she's not running. Warren's strong showing wasn't a surprise, but Sanders' placement ahead of Clinton shows "the race for the Democratic nomination is far from locked" among progressives, according to the group, founded by former Vermont Gov. Howard Dean."If they decide to get in the race, our poll clearly shows that any number of candidates could win Democracy for America members' support, especially if they focus their campaign on combatting income inequality, the driving issue of the 2016 campaign," Charles Chamberlain, DFA's executive director said in a statement.
  • From Nov. 6-to18, the group's members cast 164,733 votes for potential candidates, with members able to rank their votes for up to three potential candidates. The group released a portion of the poll on Thursday.Behind Clinton came former Secretary of Labor Robert Reich at 3 percent and Vice President Joe Biden at 2 percent.
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    Note that this is a poll in a group that is loyal to the Democratic Party and confines itself to voting Democrat in the main elections. As such, their influence is negligible. Progressives who are willing to run spolier campaigns as independents, like Ralph Nader have far more potential to move the Democratic Party than those who stay within its fold.  Ditto for Tea Partiers and the Republican Party. What's needed is a coalition to form a new party based on areas of agreement, rather than the divide-and-conquer split between the two major "parties" that guarantees a bankster/War Party win. 
Paul Merrell

Bank Of America's $17 Billion Mortgage Crisis Settlement Could Be A Total Bust | ThinkP... - 0 views

  • Bank of America has agreed to a legal settlement with the Department of Justice (DOJ) to avoid prosecution for the hundreds of billions of dollars in bad mortgage loans that it and its subsidiaries sold to unwitting investors in the run-up to the financial crisis, according to multiple new reports. The total on-paper cost of the deal is reportedly at least $16 billion and perhaps as high as $17 billion, which makes it the largest corporate legal settlement with the government in U.S. history. But that record price tag is deceptive. The deal is unlikely to cost Bank of America anywhere close to that amount.
  • “If you let a thief buy his way out of jail, you should really make sure the check doesn’t bounce,” HDL national campaign director Kevin Whelan said in an email. “Even a record $17 billion settlement is a small fraction of the damage done by B of A and Countrywide. But it could do real good for a lot of families,” Whelan said. “The fact that the JP Morgan Chase settlement has not delivered any noticeable relief to families makes us skeptical.”
  • the government’s decision to pursue civil settlements rather than criminal cases against banks that inflated the toxic mortgage bubble means that shareholders pay the price while executives who oversaw the misconduct earn large bonuses.
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  • Even at face value, the reported settlement is minuscule compared to the harm caused by Bank of America companies. The on-paper cost of the deal is less than 7 percent of the value of the mortgage deals Bank of America and its subsidiaries Countrywide and Merrill Lynch made before the crisis that have since gone bad. (Bank of America bought Countrywide and Merrill Lynch at the height of the crisis.) Those three companies issued just shy of a trillion dollars in mortgage-backed securities in the run-up to the financial collapse, and $245 billion of those products have gone bad, according to Bloomberg. Bank of America had pushed for a much smaller settlement for months, arguing that it should not have to pay for the sins of the firms it bought at bargain-bin prices when the economy was reeling. But a court ruling last month regarding Countrywide’s most notorious mortgage swindle caused the bank to change its tune, according to the New York Times. Judge Jed Rakoff ordered the bank to pay about $1.3 billion for one tranch of defective mortgages sold under a program that Countrywide nicknamed “Hustle” because of its fraudulent nature. Having lost one court case over Countrywide’s notorious misdeeds, the Times says, Bank of America decided to stop resisting federal officials’ settlement demands.
  • After tax deductions, the settlement could easily shrink below the roughly $15 billion in profits the company has reported since 2011. And because the financial crisis sucked something like $14 trillion out of the economy and destroyed tens of trillions of dollars in wealth for homeowners, the DOJ can hardly claim to have delivered a proportional response. The department’s claims about the Bank of America settlement are likely to draw political scrutiny. A bipartisan bill from Sens. Elizabeth Warren (D-MA) and Tom Coburn (R-OK) would require government officials to state the full tax deductibility and true cost of corporate legal settlements in all public statements about them. That bill, inspired by the revelations that JP Morgan’s sweetheart deal with the DOJ didn’t come close to the portrait that Attorney General Eric Holder painted of it, was passed out of committee late last month.
Paul Merrell

Lawmakers Say TPP Meetings Classified To Keep Americans in the Dark | Global Research - 0 views

  • US Trade Representative Michael Froman is drawing fire from Congressional Democrats for the Obama adminstration’s continued imposition of secrecy surrounding the Trans-Pacific Parternship. (Photo: AP file) Democratic lawmaker says tightly-controlled briefings on Trans-Pacific Partnership deal are aimed at keeping US constituents ignorant about what’s at stake Lawmakers in Congress who remain wary of the Trans-Pacific Partnership (TPP) trade agreement are raising further objections this week to the degree of secrecy surrounding briefings on the deal, with some arguing that the main reason at least one meeting has been registered “classified” is to help keep the American public ignorant about giveaways to corporate interests and its long-term implications.
  • As The Hill reports: Members will be allowed to attend the briefing on the proposed trade pact with 12 Latin American and Asian countries with one staff member who possesses an “active Secret-level or high clearance” compliant with House security rules. Rep. Rosa DeLauro (D-Conn.) told The Hill that the administration is being “needlessly secretive.” “Even now, when they are finally beginning to share details of the proposed deal with members of Congress, they are denying us the ability to consult with our staff or discuss details of the agreement with experts,” DeLauro told The Hill. Rep. Lloyd Doggett (D-Texas) condemned the classified briefing. “Making it classified further ensures that, even if we accidentally learn something, we cannot share it. What is [Froman]working so hard to hide? What is the specific legal basis for all this senseless secrecy?” Doggett said to The Hill. “Open trade should begin with open access,” Doggett said. “Members expected to vote on trade deals should be able to read the unredacted negotiating text.”
  • “I’m not happy about it,” Rep. Alan Grayson (D-Fla.) told the Huffington Post, referring to the briefing with Froman and Labor Secretary Thomas Perez on Wednesday. The meeting—focused on the section of the TPP that deals with the controversial ‘Investor-State Dispute Settlement’ (ISDS) mechanism—has been labeled “classified,” so that lawmakers and any of their staff who attend will be barred, under threat of punishment, of revealing what they learn with constituents or outside experts. According to the Huffington Post: ISDS has been part of U.S. free trade agreements since NAFTA was signed into law in 1993, and has become a particularly popular tool for multinational firms over the past few years. But while the topic remains controversial, particularly with Democrats, many critics of the administration emphasize that applying national security-style restrictions on such information is an abuse of the classified information system. An additional meeting earlier on Wednesday on currency manipulation with Froman and Treasury Secretary Jack Lew is not classified.
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  • Among its other critics, Sen. Elizabeth Warren has slammed the idea of ISDS provisions as a surrender of democratic ideals to corporate interests. According to Warren, ISDS would simply “tilt the playing field in the United States further in favor of big multinational corporations.” By having unchallenged input on secretive TPP talks, Warren argued last month, these large companies and financial interests “are increasingly realizing this is an opportunity to gut U.S. regulations they don’t like.” According to Grayson, putting Wednesday’s ISDS briefing in a classified setting “is part of a multi-year campaign of deception and destruction. Why do we classify information? It’s to keep sensitive information out of the hands of foreign governments. In this case, foreign governments already have this information. They’re the people the administration is negotiating with. The only purpose of classifying this information is to keep it from the American people.”
Paul Merrell

Zogby Analytics - The Zogby Poll℠: Sanders and Biden dominate Trump; Obama an... - 0 views

  • Zogby Analytics conducted a hybrid (live interviewer telephone and online) survey of 1,514 likely voters in the US. The survey was conducted 10/19/2017 - 10/25/2017. Based on a confidence interval of 95%, the margin of error for 1,514 is +/- 2.5 percentage points. In our latest poll, we analyzed voters' attitudes concerning potential 2020 presidential election match-ups. We found Donald Trump is in close races against Senator Elizabeth Warren and former first lady Michelle Obama. We also see the president in difficult match-ups with Senator Bernie Sanders and former vice president Joe Biden. In the match-up between President Trump and Bernie Sanders, the senator from Vermont receives a narrow majority of voters, while Trump receives 40% of voters. Sanders does better than Trump with women (56%-35%), younger voters age 18-24 (69%-27%), 18-29 (64%-30%), Walmart shoppers (47%-42%), voters age 50-64 (46%-44%), Amazon shoppers (51%-41%) and all minorities. As per usual Trump beats Sanders among voters age 65+ (53%-40%) NASCAR fans (47%-46%), Catholic voters (49%-43%), and rural voters (53%-36%). Sanders does the most damage to Trump among men (both tied at46%), and beats him significantly with Independents (51%-36%). Bernie Sanders also cuts into Trump's lead with older voters and NASCAR fans. When we examine Trump vs. former vice president Joe Biden, Biden beats the president 50% to 40%. Joe Biden, like Bernie Sanders, is favored among younger voters age 18-24 (74%-18%), voters age 18-29 (60%-31%), women (57%-34%), Independents (50%-37%), and all minority groups. President Trump struggles against Biden because Biden is able to tap into the president's base of voters who frequently shop at Walmart (tied at 46%), voters age 50-64 (Biden leads 47% to 43%) and voters with no college education (Biden leads 47% to 42%).
Gary Edwards

Bookworm Room » Is the IRS scandal the worst political scandal in American hi... - 0 views

  •  
    Very powerful and well written commentary on the IRS Scandal.  A must read! "Ignore all that. The absolute worst scandal that's emerged lately, and the worst administration scandal in American history is the IRS scandal. Why? Because you, the People, became the targets of a comprehensive federal government effort to stifle dissent, one made using the government's overwhelming and disproportionate policing and taxing powers. All of the other scandals, going back to Andrew Johnson's post-Civil War scandals, Warren G. Harding's 1920s Teapot Dome scandal, Nixon's Watergate, Reagan's Iran-Contra, and Clinton's Oval Office sexcapades have actually been narrowly focused acts of cronyism, garden-variety political chicanery, or personal failings. It's been insider stuff. The IRS scandal, by contrast, is a direct attack on the American people. Right now, Progressives throughout America are pretending that this scandal doesn't matter: "Obama wasn't involved." "Tea Partiers had it coming because they're all corrupt." "Obama would have won the election anyway." "It was just a coincidence that the only groups that had their applications scrutinized, sometimes for years, were politically conservative. It means nothing that, when one group changed its name to sound Progressive, its application was approved in only three weeks." "This is just a bureaucratic snafu." "It's a few rogue agents in Ohio." Those who offer these excuses are either morally flawed themselves or delusional idiots. "
Paul Merrell

Google, ACLU call to delay government hacking rule | TheHill - 0 views

  • A coalition of 26 organizations, including the American Civil Liberties Union (ACLU) and Google, signed a letter Monday asking lawmakers to delay a measure that would expand the government’s hacking authority. The letter asks Senate Majority Leader Mitch McConnellMitch McConnellTrump voices confidence on infrastructure plan GOP leaders to Obama: Leave Iran policy to Trump GOP debates going big on tax reform MORE (R-Ky.) and Minority Leader Harry ReidHarry ReidNevada can’t trust Trump to protect public lands Sanders, Warren face tough decision on Trump Google, ACLU call to delay government hacking rule MORE (D-Nev.), plus House Speaker Paul RyanPaul RyanTrump voices confidence on infrastructure plan GOP leaders to Obama: Leave Iran policy to Trump GOP debates going big on tax reform MORE (R-Wis.), and House Minority Leader Nancy Pelosi (D-Calif.) to further review proposed changes to Rule 41 and delay its implementation until July 1, 2017. ADVERTISEMENTThe Department of Justice’s alterations to the rule would allow law enforcement to use a single warrant to hack multiple devices beyond the jurisdiction that the warrant was issued in. The FBI used such a tactic to apprehend users of the child pornography dark website, Playpen. It took control of the dark website for two weeks and after securing two warrants, installed malware on Playpen users computers to acquire their identities. But the signatories of the letter — which include advocacy groups, companies and trade associations — are raising questions about the effects of the change. 
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    ".. no Warrants shall issue, but upon probable cause, supported by Oath or affirmation, and particularly describing the place to be searched, and the persons or things to be seized." Fourth Amendment. The changes to Rule 41 ignore the particularity requirement by allowing the government to search computers that are not particularly identified in multiple locations not particularly identifed, in other words, a general warrant that is precisely the reason the particularity requirement was adopted to outlaw.
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