Opens Today

See this movie.

We seem to be getting more stupid, as a nation

I couldn't believe it when I read it:

Texas Teen Jailed For Sarcastic Facebook Comment

So bankers can take literally millions upon millions of dollars from people--stealing it, factually--and aren't even charged with a crime but let one teenager type something sarcastic on a social page and HE'S jailed?

Where on Earth are our priorities?

And that one, above, is on top of this one from the recent past:

Police arrest sidewalk chalk-drawers in LA Occupy protest 

We don't arrest the thieves and liars at Bank of America but we arrest the people outside their banks, writing on the sidewalks in chalk.

Does any of this make any sense at all?  To anyone?  

Well, except to the banksters.

A great way to spend 17 minutes

An education on the 2008 national and international near-total financial and economic collapse due to American bankers and banking and where we are now.

You owe it to yourself--and the nation, your country--to see this documentary: http://www.insidejobmovie.com.au/

Why we need government--and regulation

Why do we need government? Why do we need government regulations?

Look no further than this headline from The Wall Street Journal a few days ago:

Interest Rate Probe Escalates

Barclays Agrees to Pay Record Fine; Emails Show Traders Tried to Manipulate Libor

Barclays PLC agreed to pay $453 million in fines to U.S. and U.K. regulators after admitting that traders and executives tried to manipulate interest rates tied to loans and financial contracts around the world.

If the 2008 national and international collapses of the world's financial markets weren't enough for you, or the collapse of Enron or the BP oil spill in the Gulf of Mexico, or one of the many other big catastrophes in the last few years weren't enough, this should do it for you.

Barclays Bank, in England, was just big and powerful enough to do their best to try to manipulate international interest rates to go in their favor. This, this is why we need something bigger and stronger than corporations--to control them. To keep their greed in check.

If you don't either already know this or understand it, you need to see one of the many documentaries on these collapses.

We need government as an independent check on corporations and the world's wealthy.

This, above, got Barclays a nearly half billion dollar fine.

And the thing is, the examination is still going on.

Who knows what they did we don't know?

As if that isn't enough, Glaxo-Smith-Kline of the pharmaceutical industry was also fined. This time for three billion dollars--that's $3 billion--for fraud, for stealing from the American public:

GlaxoSmithKline Settles Largest Health Care Fraud Case In U.S. History

WASHINGTON (AP) — GlaxoSmithKline LLC will pay $3 billion and plead guilty to promoting two popular drugs for unapproved uses and to failing to disclose important safety information on a third in the largest health care fraud settlement in U.S. history, the Justice Department said Monday.

The $3 billion fine also will be the largest penalty ever paid by a drug company, Deputy Attorney General James M. Cole said. The corporation also agreed to be monitored by government officials for five years to attempt to ensure the company's compliance, Cole said.

Small government? Sure. You bet.

No government? Not a chance. Weak government? Ditto. No, thank you.

So, Libertarians, you can count me out, thanks very much.

Link to original article: http://online.wsj.com/article/SB10001424052702304830704577493092589081130.html

"Inside Job" (documentary): http://www.imdb.com/title/tt1645089/

"Enron: The Smartest Guys in the Room": http://www.imdb.com/title/tt1016268/

http://www.huffingtonpost.com/2012/07/02/gsk-fraud_n_1643186.html

Let's put into place the Robin Hood tax

To repeat, the Robin Hood Tax campaign is calling for a tax of less than one-half of 1% on Wall Street transactions that could generate hundreds of billions of dollars each year.

This tax on Wall Street could provide funding to kickstart the economy and get America back on its feet by creating jobs and strengthening public services like health care, education and infrastructure at home while tackling AIDS, global health, poverty and climate challenges around the world.

It's an idea whose time has long-since come.

Please support the Robin Hood Tax. Let your representatives in Washington, DC know you're for it.

What Americans don't know about their own economy

Bill Moyers, Matt Taibbi and Yves Smith discuss what the banks do and have done and why it's all so very criminal.
Things Americans aren't paying attention to and, it seems like, won't pay attention to, either.

JP Morgan loses $3b: You're darn right, Mr. President

Weekly Address: Congress Must Move Forward, Not Back On Wall Street Reform

The new Wal-Mart, Mexico banking brouhaha

In case you didn't see it, there was a big, rather significaant, if not important article in yesterday's New York Times about Wal-Mart's Mexico banking company: Vast Mexico Bribery Case Hushed Up by Wal-Mart After Top-Level Struggle Confronted with evidence of widespread corruption in Mexico, top Wal-Mart executives focused more on damage control than on rooting out wrongdoing, an examination by The New York Times found.

There are far too many details for me to go on about it here. Suffice it to say, it should be huge, if it isn't totally ignored. I'd like to know three things: First, are there any charges that need to be filed here in the US against whomever is involved?

Next, are there any charges that need to be filed in Mexico? Personally, I hope this will be pursued by the press and justice systems of both countries and that if they find any wrongdoing, they are prosecuted to the full extent of the laws in both countries.

Finnally, I'd like to see if any international laws were broken, too, as well as any other nation's laws, in addition to Mexico's, and if they're prosecutable. This is, after all, the company that wants to be cleared as a banking company in this country, too, as they've made clear. I think for most Americans, it will be extremely illuminating that Wal-Mart is a banking company, also, in Mexico, besides a retailer. I hope it's fascinating just where these revelations go, in positive ways. Meaning, if laws were broken, I hope everyone liable is held accountable, not the least being corporate Wal-Mart, anywhere and everywhere they may have broken any laws. Keep in mind, that Wal-mart all but owns Arvest Bank here in the States, too. (See last link, below).

Links: http://www.nytimes.com/2012/04/22/business/at-wal-mart-in-mexico-a-bribe-inquiry-silenced.html?_r=1&nl=todaysheadlines&emc=edit_th_20120422; http://www.thedailybeast.com/articles/2012/04/22/8-revelations-from-walmart-s-mexican-bribery-scandal.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+thedailybeast%2Farticles+%28The+Daily+Beast+-+Latest+Articles%29; http://en.wikipedia.org/wiki/Arvest_Bank

An insigtful 12 minutes

Shame on Missouri state legislators

Well, the Missouri state legislators are at it again. This time they're hitting the news, big time, online and nationally, for real sleaze: Missouri Becomes Second State To Divert Foreclosure Funds Away From Homeowners To Balance Its Budget So you got fleeced by your local, friendly, neighborhood banker and that's the bad news. The good news? There was a cash settlement from the banks for it. It's not much but it's something. The new bad news? Your local legislators are going to pocket it, instead, and keep it away from you. Nice, huh? There is just no shame, no shame at all, for Missouri state legislators in Jefferson City. Link: http://thinkprogress.org/economy/2012/02/13/423677/missouri-foreclosure-settlement-budget/?mobile=nc

Remember the 60's?

Remember the riots of the 60's? 1967, 1968, 1969. Remember those? Watts. Chicago. The 1968 Democratic National Convention riots in Chicago. All those? I would nearly bet that this Summer is going to be full of similar demonstrations and riots nearly nationwide, if not totally. Between the election year and the "Occupy" groups and the general breakdown of different society issues, especially of the very rich vs. the very poor, I expect there will be clashes, almost certainly. Cities are already changing their laws so they can act more forcefully against demonstrations. That, and watch Europe, too. With Greece's likely default on their debt and both the extreme debts across Europe, along with deep cuts in so many public programs, look for demonstrations and riots to break out all across Europe, too. I think it is likely to be the 2nd "long, hot Summer." We shall see. I'd be happy--very happy--to be mistaken.

A brief reminder of where George W. Bush and the Republicans took us

And someone wants to vote Republican?

Big, big questions for 2012

They are big, indeed, the questions we can pose now, for this coming new year. So many people are predicting collapses of different kinds. So here goes, some of my questions for 2012: 1) Will Greece's economy collapse? 2) Will Italy follow suit? 3) Spain? 4) Portugal? 5) Will the Euro collapse, in full or part? 6) Will the US financial system face the same or very similar collapse as we did in 2008, yet again? 7) Seriously, many people I've spoken to--friends--have predicted and are predicting--gulp--the collapse of the US. Nice thought, huh? Understand, I'm not predicting any of the above. I've just seen many people predicting these things. Consider it just food for thought. Think happy thoughts, y'all. And happy new year.

KC: No. 10 on List of "The 10 Emptiest Cities"

Man, is that depressing. I really didn't think we'd be on this list. Detroit? Sure, at the top--but they aren't. The Motor City is at number 8. St. Louis? Heck yes (but actually, they're not even on the list). But Kansas City, Missouri? I just didn't think we were that empty. It's from the CNBC news page last evening. They're stats: --Rental vacancy rate: 11%; --Homeowner vacancy rate: 3.7% "Although the Kansas City, Mo., metropolitan area has seen rental vacancy rates drop significantly — from 17.2 percent in the second quarter of 2010 — homeowner vacancies have gone up by nearly 30 percent over the same time. Interestingly, homeowner vacancies were higher in Kansas City prior to the housing crisis, hitting 4.5 percent in the second quarter of 2007." For a bit of schaudenfreude, Indianapolis is at number 2. Forgive me if I should try to make you feel better. Link to original post: http://www.cnbc.com/id/44860467

Here's more of that low-regulation Libertarianism for you

A great example of "self-regulation": former Senator Jon Corzine's MF Global, which collapsed. Now? 1.2 billion dollars are missing and unaccounted for. Understandably, people are upset to the point of angry. (see link below). After the BP oil spill and the 2008 financial collapse that still reverberates today, it's difficult to believe people still want "small government" so companies can regulate themselves. No thank you. We've had far too many examples and reminders of how and why that just doesn't work. Links: http://www.reuters.com/article/2011/12/14/us-mfglobal-regulation-idUSTRE7BD1WE20111214; http://www.reuters.com/article/2011/12/13/us-mfglobal-execs-idUSTRE7BB1XV20111213

If the Euro and Eurozone fail...

This out today in the news: US bank warns of eurozone breakup 'pandemonium' Citigroup economist and former central banker Willem Buiter warned Thursday that a fully blown breakup of the eurozone could spell a global depression with unemployment of 20 percent and economic pandemonium. Sketching a stark picture of the stakes facing European leaders as they gather in Brussels to discuss how to save the single currency, Buiter said a breakup would unlikely be planned, orderly or gradual. Buiter, a former Bank of England policy maker, predicted in a research note that a breakup would be "disruptive, destructive and without any winners." Basically, I think this is what he has in mind: Wish us all luck, ladies and gentlemen.

Anonymous salutes the "99%"

Quote of the day

"Slavery is the legal fiction that a person is property. Corporate personhood is the legal fiction that property is a person." --From an "Occupy Wall Street" t-shirt.

To Washington, from the Vatican, with love

To legislators in Washington: "...the Vatican called Monday for an overhaul of" the "world’s financial systems and a return to a global economy based on ethical behavior and “achievement of a universal common good,' the AP reports. While the Vatican has, in the past, criticized uncontrolled capitalism, the new call goes further, decrying 'an economic liberalism that spurns all rules and controls.'” "The call for greater control and equality in financial markets comes at a time when Republican presidential candidates — many of whom tout their religious credentials on the campaign trail — have called for the repeal of the Dodd-Frank financial reform law aimed at preventing a crisis similar to that of 2008, and as Republicans in both Congress and on the campaign trail continue to back budget cuts that would eviscerate programs that help the poor. At the same time, protesters spurred by the original Occupy Wall Street demonstrations have brought increasing attention rising income inequality, corporate greed, and tax breaks for corporations and the wealthiest Americans." "This isn’t the first time faith leaders have spoken out against so-called religious conservatives who have prioritized tax cuts for the wealthy and repealing financial regulations over helping low-income Americans. A group of Catholic bishops signed a letter to House Speaker John Boehner (R-OH) and Budget Committee Chair Paul Ryan (R-WI) — both practicing Catholics — during the debt limit fight, denouncing budget cuts that disproportionately hurt the poor. Other religious leaders made similar calls, with Rev. Jim Wallis telling Republicans, 'We did not get into fiscal trouble because of poor people. … The poor didn’t cause this. Let’s not make them pay for it.'” Link to original post: http://thinkprogress.org/special/2011/10/24/351277/the-vatican-calls-for-economic-equality-reform-of-world-financial-system/

What "Occupy Wall Street"--and America--is all about

We need to get Alan Grayson back in Congress, to join Sen. Bernie Sanders and Dennis Kucinich.