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Resist the Corporate State

Posts Tagged ‘Cronyism

The Great American Giveaway

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excerpted from: The War Against the Republic: The Battle of Madison

Feb 24, 2011      By Richard (RJ) Eskow

Power Grab

At the risk of sounding disagreeable, it’s hard to find an “honest difference of opinion” on ideology that explains a paragraph like this one in Gov. Walker’s new bill, spotted by my eagle-eyed pal Mike Konczal: “… the department may sell any state−owned heating, cooling, and power plant or may contract with a private entity for the operation of any such plant, with or without solicitation of bids, for any amount no approval or certification of the public service commission is necessary for a public utility to purchase, or contract for the operation of, such a plant …”

This allows the governor to bypass regulators and legislators and sell the state’s power plants, built with millions in taxpayer money to anybody he likes. This paragraph goes on to say that ” any such purchase is considered to be in the public interest and to comply with the criteria for certification of a project.” The governor can give these plants away if he wants, and nobody can stop him.

Cui bono? Who could possibly benefit from giving the governor the ability to sell the state’s “heating, cooling, and power plants” (there are 32 of them), or “contract with a private entity” to operate them, without a bid process or any regulatory oversight?

Let’s see now: Wisconsin has nearly one million natural gas customers, so it would presumably be a company that “provides consulting, engineering, design, procurement, fabrication and construction services for the natural gas and gas processing industries worldwide” and has “been the general contractor on some of the largest natural gas plants built in the U.S.” And since there are a number of coal-fired plants on the state’s list, our corporation would need to be a “leading supplier of coal and related products typically used in industrial applications or to generate electricity.”

Those quotes were taken from the website of Koch Industries, the company whose owners are bankrolling a little-known group that’s behind initiatives like Walker’s budget proposal.

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Pledge of Independence- no votes for Dems or GOP

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from the People’s Email Network:

Pledge of Independence Action Page:

Friends, our premise from the beginning has been that we must first speak out for policy change to our elected officials. For unless we are in fact speaking out, only then can we know if they will listen to us or not. AFTER we do that, it becomes clear who is listening and who is not, and THEN we have the base to hold them to account accordingly, and to remove from office those who will not listen.

We have now arrived at the latter point with regard to each and every sitting member of Congress of both major parties without exception, and the fake Independents can go too.

We are calling for all citizens of the United to declare that under no circumstance will they vote for any candidate associated with either the Democratic or Republican parties, and that we instead dedicate our lives, our fortunes and our sacred honor, to electing worthy independents who can demonstrate a lifetime of public policy advocacy on behalf of the people, true citizen legislators.

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Report: Lehman Brothers used illegal accounting trick to hide debt

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see also: on the same topic BNN speaks to Yves Smith, editor, Naked Capitalism about 3+ minutes into this video.

They Cooked The Books

The Video That Will Put Geithner Behind Bars

One Of The Greatest Crimes Ever Perpetrated

By Mike Whitney

March 13, 2010 Information Clearing HouseYou gotta see this! If this doesn’t convince you that Timothy Geithner knew about the securities shenanigans that were going on at Lehman, then I don’t know what will.

Keep in mind, that Geithner ran Lehman through 3 “stress tests” prior to bankruptcy; all of which Lehman failed, and yet, nothing was done. Anton R. Valukas–the examiner who wrote the 2,200 page investigative-report which was released on Thursday– has provided plenty of information detailing Lehman’s “materially misleading” accounting and “actionable balance sheet manipulation.”

In other words, they cooked the books.

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Golden Throne Awarded to Tim Ryan, Spinmeister for U.S. Securities Industry

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Submitted by Mary Bottari on February 2, 2010   Banksterusa.org

T. Timothy Ryan Jr.SPECIAL RECOGNITION FOR SIFMA’S TURN PITCHFORKS INTO PLOUGHSHARES CAMPAIGN

The Center for Media and Democracy and BanksterUSA are pleased to present our Golden Throne Award to T. Timothy Ryan Jr., President and CEO of the Securities Industries and Financial Markets Association (SIFMA). SIFMA is the leading behind-the-scenes lobby group representing big banks and investment firms, as well as broker-dealers and other peddlers of financial instruments, which Warren Buffett labeled “weapons of mass destruction.” SIFMA lobbies Congress and financial regulators, and handles securities-related press for some of the biggest players in the financial crisisGoldman Sachs, Bank of America, AIG, Merrill Lynch, Citigroup, and Fidelity Investments.

The Golden Throne Award salutes the lobbyists and spinmeisters who have managed to hold off meaningful financial services reform since the Wall Street meltdown. Read the rest of this entry »