Wall Street Is A High-On-Crack Driver That Just Smashed Into Your House - By Janet Tavakoli, Businessinsider.com (17/2/10) PDF Print E-mail
By Janet Tavakoli, Businessinsider.com   
Wednesday, 17 February 2010 00:31

(This guest post comes from Tavakoli Structured Finance)

If a high-on-crack driver crashed his speeding rental car into your house and killed your spouse, you would be outraged if law enforcers took bribes and gave the driver a pass on a blood test. If the judge then merely fined the killer and ordered you to pay it, you would appeal, wondering what happened to justice. If the government then handed the crack-driver keys to a bigger rental car and presented you with the rental bill, you would certainly protest.

How is it, then, that you have remained largely silent in the face of the same sort of behavior by Wall Street and Washington? Bonus-seeking bankers careened off the right path and ran Ponzi schemes that nearly ruined our economy. Bureaucrats and elected officials bailed them out without demanding consequences. Bankers are revving their engines again.



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Indicting the Supreme Court - By Prof John Kozy, Global Research (16/2/10) PDF Print E-mail
By Prof John Kozy, Global Research   
Tuesday, 16 February 2010 00:00

Grumbling over the Supreme Court's recent decision in Citizens United continue to rumble like distant thunder. Will the decision go down in history as one more in the Court's long line of egregious opinions? Likely! Will it have much effect on the American political landscape? Likely not! Simply ask yourself, how much worse can it get?

There is scant evidence that the Congressional attempts to limit corporate expenditures in electioneering have had any effect in reducing corporate influence in government. Expecting the Congress, most if not all of whose members reside deep in corporate pockets, to eliminate that influence can be likened to expecting the rhinovirus to eliminate the common cold. Corporate money is the diseased life-blood of American politics; it carries its cancerous spores to all extremities.

The Supreme Court really should be named the Unbeseem Court. Without any Constitutional justification whatsoever, as Justice Holmes, dissenting in Lochner, pointed out, the Court has taken its task to be the constitutionalization of a totally immoral, rapacious, economic system instead of the promotion of justice, domestic tranquility, the general welfare, and the blessings of liberty. Consider this short list of examples:



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What Do Empires Do? - By Michael Parenti, Common Dreams (16/2/10) PDF Print E-mail
By Michael Parenti, Common Dreams   
Monday, 15 February 2010 23:58

When I wrote my book Against Empire in 1995, as might be expected, some of my U.S. compatriots thought it was wrong of me to call the United States an empire. It was widely believed that U.S. rulers did not pursue empire; they intervened abroad only out of self-defense or for humanitarian rescue operations or to overthrow tyranny, fight terrorism, and propagate democracy.   

But by the year 2000, everyone started talking about the United States as an empire and writing books with titles like Sorrows of Empire, Follies of Empire,  Twilight of Empire, or Empire of Illusions--- all referring to the United States when they spoke of empire. 

Even conservatives started using the word.  Amazing. One could hear right-wing pundits announcing on U.S. television, "We're an empire, with all the  responsibilities and opportunities of empire and we better get used to it"; and "We are the strongest nation in the world and have every right to act as such"---as if having the power gives U.S. leaders an inherent entitlement to exercise it upon others as they might wish. 



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Statement on the Closure of the Legal Case for Iraq In Spain - The Brussels Tribunal (15/2/10) PDF Print E-mail
The Brussels Tribunal   
Sunday, 14 February 2010 19:05


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Trouble at the Fed - By Antony P. Mueller, Mises Daily (15/2/10) PDF Print E-mail
By Antony P. Mueller, Mises Daily   
Sunday, 14 February 2010 09:38

In line with the basic rule that few things are more helpful to a political career than catastrophic failure, Ben Bernanke was confirmed by Senate vote for four more years as chairman of the US Federal Reserve System (the Fed) on January 28, 2010.

In persistent denial that it was ample liquidity in the first place that caused the present dire economic situation, the head of the Fed holds the view that "too little inflation" has been the true threat all along. Fear of deflation is Ben Bernanke's recurrent nightmare. In fact, his deflation worries form the basis of the so-called Bernanke doctrine, which says that the cure is monetary expansion and, consequently, holding interest rates as low as possible.

Since his first days at the Fed, as a member of the Board of Governors in 2002, Bernanke has promised to be a big printer of money. And since he took over the helm from Greenspan as chairman of the US central bank in 2006, he has fully lived up to this pledge.



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Last Updated on Sunday, 14 February 2010 19:11
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