Wake-up Call

Resist the Corporate State

Posts Tagged ‘Above the law

California fracking uses more than 2 mil gallons of water a day (in a major drought!)

leave a comment »

Photo: According to new analysis by Californians Against Fracking, the California oil & gas industry uses over 2 million gallons per day on activities like fracking, acidizing, and cyclic steam injection. Read more here: http://go.350.org/Y5XxHG Unlike many other water uses -- say, farming for instance -- fracking permanently pollutes water and effectively removes it from the water cycle.  What was that about a drought? Photo: Brooke Anderson Photography: Stills of Our Stories & Struggles

 

According to new analysis by Californians Against Fracking, the California oil & gas industry uses over 2 million gallons per day on activities like fracking, acidizing, and cyclic steam injection. Read more here:

You think you have free speech? just try to use it…..

leave a comment »

Bank of America
by jonathanturley      6/26/13

banksters

Jeff Olson, 40, is facing a potential 13-year jail sentence for perhaps the world’s most costly sidewalk art. A former aide to the U.S. Senator from Washington, Olson used water-soluble statements like “Stop big banks,” and “Stop Bank Blight.com” outside Bank of America branches last year to protest the company’s practices. He eventually gave up his protest but prosecutors later brought 13 charges against him. Now a judge has reportedly banned his attorney from “mentioning the First Amendment, free speech, free expression, public forum, expressive conduct, or political speech during the trial.” It appears someone associated with Bank of American could finally go to jail, but it will not by the bank officials in the financial scandal. It is the guy writing slogans in chalk in the sidewalk.

Read more of this post

INSIDE JOB- criminals are still running American finance

with one comment

“Inside Job” won the 2011 Academy Award for best documentary on Sunday night. The film’s director used his acceptance speech to deliver pointed criticism of Wall Street and the financial industry.

“Inside Job” director Charles Ferguson subjected Wall Street players, economists and bureaucrats to a fierce cross-examination to depict the economic crisis as a colossal crime perpetrated on the working-class masses by a greedy few. His film examined the financial crisis of 2008. His speech lamented the lack of accountability three years later. “Forgive me, I must start by pointing out that three years after our horrific financial crisis caused by financial fraud, not a single financial executive has gone to jail, and that’s wrong,” Ferguson said.

Charles Ferguson’s Oscar Speech Rips Wall Street: ‘Inside Job’ Director Levels Criticism During Acceptance

Where Are The Wall Street Indictments?

Charles Ferguson: The Financial Crisis and America’s Political Duopoly

The United States is now in the grip of a political duopoly in which both parties are thoroughly complicit. The current arrangement all but guarantees the continuing decline of the United States as a nation.

 

“Why aren’t more meltdown moguls indicted?” asks USA Today edit board: “If anyone acted and looked the part of a villain, it was the co-founder of Countrywide … The former managing director of credit rating agency Moody’s Corp. found a novel way to quadruple his company’s market share in rating mortgage-backed securities — he transferred, or fired, most of the analysts in the group … The former head of AIG’s financial products used the sterling credit of his parent company to quickly become the world’s largest insurer of the complex mortgage products Wall Street was churning out”

“You Have More Money In Your Wallet Than Bank Of America Pays In Federal Taxes” reports ThinkProgress: “…as politicians are asking ordinary Americans to sacrifice their education, their health, their labor rights, and their wellbeing to tackle budget deficits, some of the world’s richest multinational corporations are getting away with shirking their responsibility and paying nothing.”

LAT has the latest on the cost of the bailouts: “In mid-2009, [TARP] was projected to lose as much as $341 billion. That’s been reduced to $25 billion … Still, many people are worried about the long-term effects of the government actions [by setting] a dangerous precedent, opening the door to future crises … critics also said that hundreds of billions of dollars in bailout money … will not come back, mainly because of … Fannie Mae and Freddie Mac, which combined have consumed $150 billion … most recent estimates of losses for all the various bailout efforts range from $238 billion to $380 billion. But Treasury officials think those estimates might be too high. They said the total cost of all the financial interventions is likely to be less than $140 billion … less expensive than the federal losses from the savings and loan crisis in the late 1980s and early 1990s…”

Accounting Fraud- evidently now legal, bankers above the law

with 2 comments

“Where are the Handcuffs?” Why Aren’t Bankers in Jail?

MSNBC—Feb. 17, 2011—Dylan Ratigan discusses recent subpoenas and what else needs to happen to hold Wall Street accountable.

Cenk Uygur speaks with Rolling Stone’s Matt Taibbi on why crooks on Wall Street go unpunished (often while taking home enormous sums of money).

and here’s Matt’s Rolling Stone article: 

Why Isn’t Wall Street in Jail?

By Matt Taibbi      RollingStone Feb 16, 2011

Financial crooks brought down the world’s economy — but the feds are doing more to protect them than to prosecute them

Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer.

“Everything’s fucked up, and nobody goes to jail,” he said. “That’s your whole story right there. Hell, you don’t even have to write the rest of it. Just write that.”

I put down my notebook. “Just that?”

Read the rest of this entry »