Posts Tagged ‘Wall Street’
From Chris Hedges at Truthout…concerning the Occupy Movement…
“…These protesters have not come to work within the system. They are not pleading with Congress for electoral reform. They know electoral politics is a farce and have found another way to be heard and exercise power. They have no faith, nor should they, in the political system or the two major political parties. They know the press will not amplify their voices, and so they created a press of their own. They know the economy serves the oligarchs, so they formed their own communal system. This movement is an effort to take our country back.
This is a goal the power elite cannot comprehend. They cannot envision a day when they will not be in charge of our lives. The elites believe, and seek to make us believe, that globalization and unfettered capitalism are natural law, some kind of permanent and eternal dynamic that can never be altered. What the elites fail to realize is that rebellion will not stop until the corporate state is extinguished. It will not stop until there is an end to the corporate abuse of the poor, the working class, the elderly, the sick, children, those being slaughtered in our imperial wars and tortured in our black sites. It will not stop until foreclosures and bank repossessions stop. It will not stop until students no longer have to go into debt to be educated, and families no longer have to plunge into bankruptcy to pay medical bills. It will not stop until the corporate destruction of the ecosystem stops, and our relationships with each other and the planet are radically reconfigured. And that is why the elites, and the rotted and degenerate system of corporate power they sustain, are in trouble. That is why they keep asking what the demands are. They don’t understand what is happening. They are deaf, dumb and blind…”
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Have a nice day.
Since the rule of law is dead:
GOP cuts funding to the SEC because of “budget deficits,” despite the fact money for the SEC does not come from the budget, but from regulatory charges paid by the brokerage firms the SEC investigates, thus saving the same companies/banks that fucked us into a recession millions while also making it more financially difficult for the SEC to prosecute all the companies that did all the fucking.
Oh, and that recession – nobody in jail, banks made billions.
Oh, and that British Petroleum oil spill – nobody in jail or charged.
Oh, and that Foreclosure Fraud – nobody in jail or charged.
Oh, and the Medical Lobby/hospitals/administrators/insurance companies/big pharma – how many people have died because they couldn’t afford not to? – nobody goes to jail and nobody charged.
Okay then, so does this mean when Republicans and not a few Democrats, including Obama, cut back on the safety net because of the deficit, one debt ceiling and/or budget at a time, while in the same moment, they give ridiculous tax cuts to the wealthy which go a long way towards helping create that deficit…does this mean then, that when I decide to go to the exclusive parts of town or to the Financial District to get my money back, that just like the banks, the oil companies, the insurance and medical industry, that I won’t go to jail or be charged either for theft and/or fraud?
Interesting, then the rule of law must only be kind-of dead, inasmuch as the bottom 99% is ruled by the laws of the top 1%, the same 1% who only calls it class war when the bottom 99 fights back against their greedy, entitled ways…
Have a nice day.
So yeah, the FBI is getting set to get all new powers…which could be used to make past illegal activity by the FBI now legal, and to make new activity by the FBI as legal as they want it to be…
But one still might ask: but if you’re doing nothing wrong why worry about it?
The simple answer is these new rules would allow the FBI to dig up information on anyone they want, use it to blackmail anyone they want into being informants.
Also, it would allow the FBI to dismantle any remaining protections for people who are the sources on “low-profile blogs.” And who gets to decide which blogs are low profile?
Huh, I wonder…
From the article:
“The Federal Bureau of Investigation is giving significant new powers to its roughly 14,000 agents, allowing them more leeway to search databases, go through household trash or use surveillance teams to scrutinize the lives of people who have attracted their attention…
The F.B.I. soon plans to issue a new edition of its manual, called the Domestic Investigations and Operations Guide, according to an official who has worked on the draft document and several others who have been briefed on its contents. The new rules add to several measures taken over the past decade to give agents more latitude as they search for signs of criminal or terrorist activity.
The F.B.I. recently briefed several privacy advocates about the coming changes. Among them, Michael German, a former F.B.I. agent who is now a lawyer for the American Civil Liberties Union, argued that it was unwise to further ease restrictions on agents’ power to use potentially intrusive techniques, especially if they lacked a firm reason to suspect someone of wrongdoing.
“Claiming additional authorities to investigate people only further raises the potential for abuse,” Mr. German said, pointing to complaints about the bureau’s surveillance of domestic political advocacy groups and mosques and to an inspector general’s findings in 2007 that the F.B.I. had frequently misused “national security letters,” which allow agents to obtain information like phone records without a court order.”
They will of course claim the new powers are necessary to: keep pace with technology, to combat serious threats, to just, you know…eliminate some minor procedural issue…because these are the things they always say…
Tired old record played on tired old record players…
Now, I would also like to add this, and feel free to throw me into the conspiracy portion of the internet if you like, but nonetheless…many people often examine any new erosion of privacy rights not through the way things are now, but through to the way this country could drift towards, and that being said, as Congress continues to cede control to Wall Street and large financial institution, as they continue to speak to the concerns of their country’s citizens with a collective shrug (unemployment benefits, home loan fraud, deregulation of commodities leading to the rising price of groceries and oil)…as they continue to do nothing about climate change (even though the Pentagon has done their own study and label it a threat to National Security)…as they continue, essentially to consolidate power into the hands of government institution and agency, and the wealthiest Americans and corporations…well, they understand this is just beginning to make Americans angry, and this anger is likely to grow and to one day, possibly foment acts against government institutions…
So, it would seem that over the past three Presidential Administrations…all of this eroding of privacy, what would be blatantly illegal even fifteen years ago…ten years ago…five years ago…while this is not necessarily some grand scheme of control, it is a bit by bit consolidation and anticipation of what could someday be necessary…should Americans really get upset when they finally wake up and realize that yes, they are being truly screwed, by Republicans and Democrats…
Present day erosion of American rights and privacy are “aces in the hole,” perhaps necessary for the government to identify and combat the potential for wider domestic unrest in the future.
Okay, enough about that…
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Have a nice day…
…just don’t try no funny business.
Wanna know why the Federal Reserve is bad for everyone?
Well, everyone but that oh so fortunate top 1%…
Yes, its thirty minutes long…but how many sitcoms have you watched in your life? Can’t say I agree with everything presented here, but its certainly more amusing than the latest episode of Everybody Loves Two and a Half 30 Rocks…
Have a nice day.
From Danielle Thomas, an attorney with a legal aid group, who has been assisting people with their GCCF claims:
“These people are still really, really hurting…bills are coming due, or they’re already way past due. They’re borrowing from friends and families. There are people living out of cars with their children… It’s unbearable for people.”
From Ken Feinberg, administrator of the BP fund:
“I’m doing my best…the program is not perfect, but I think we are achieving what BP and the administration wanted to see done.”
And that is, exactly what?
British Petroleum appears to have been about cutting costs, from their actions on the Deepwater Horizon to their commitment to the Gulf Coast after the oil spilled…be it trying to influence the scientific research into what caused the spill, to the lowballing of flow rates from the Macondo Well, to their recently stated denial of responsibility in paying to reseed oyster beds which were damaged while combating the spill.
As for the administration, well, President Obama doesn’t even have plans to be in Louisiana for the anniversary of the rig’s explosion, instead opting to spend time in California.
So, if it appears BP and the administration are just trying to save money and/or pretend the Gulf Coast doesn’t exist, and this is what Feinberg says he is trying to achieve…it might explain why he is constantly trying to rewrite the narratives of what is happening with claimants every time a journalist asks him a question.
Take, for example, his continued explanations on why so many people are taking the quick pay option which pays only $500o dollars to individuals and $25,000 to businesses, and requires them to sign away their rights to sue BP for future damages:
“Feinberg believes people…either received an emergency payment last year and feel “adequately compensated” already, or they simply lack the proper documentation to prove further damages. If people were being pushed into quick payments, “you would think there would be a flood of citizen complaints in the Gulf,” he said, “and we haven’t seen that.”
He hasn’t seen a flood of citizen complaints?
I find this hard to believe considering he has repeatedly stated in the press that he’s read the well over 3000 comments submitted to the GCCF website during the Final Claims Methodology public comment period.
Go ahead, take a look for yourselves. I do think that unlike Feinberg, you’ll find many, many people saying that after reading the methodology, they’re considering the quick pay claims because the continued stalling has made them financially desperate, also, just so they can be done with the GCCF for good.
Comments such as:
Feb 16th – “I started a business five years ago that was successful prior to the oil spill, and now It may not make it another year without your assistance. I’m just trying to live the american dream and have something to pass on to my children. This methodology you proposed is just a delay and a scare tactic, you are playing poker with our lives. This methodology is so unfair it now looks good to individuals and business to take the quick pay, you hold all the money and the cards. What a sorry business man you are. We will not go down without a fight. Do the right thing and you may sleep better at night.”
And, of all the comments on the GCCF website, I would challenge Feinberg to find 1%, or 30 of them from claimants who state they have been “fairly compensated.”
So yes, like the price of gas and faulty cleanup efforts, and like the giveaway to Wall Street and large investment banks, and like the way GCCF’s claims process is being handled, it would appear that British Petroleum, the administration and Ken Feinberg are all on the same page when attempting to screw the residents of the Gulf Coast, in the accustomed Feinbergian ways:
1. If you repeat a lie often enough, people who aren’t paying close attention will start to believe it.
2. The way to deal with residents harmed by the oil spill is to stall them into submission, or at least until the media, and the claimants themselves are forced to simply give up and go away.
In the press, Feinberg can say he is doing a good job all he wants, but his narrative, just like British Petroleum’s “Making Things Right” commercials, is nothing more than a well-produced spin tactic.
And in the real world, we refer to spin by it’s more proper name: lies.
Have a nice day.