Posts Tagged ‘Looting’
The worm turns….or twists in the wind, according to your view. It really was international Banksters that lit the fuse under Mubarak with their wholesale looting, so it’s almost fun to watch them scurry around trying to find someone to bail them out of this mess. Too bad power and wisdom don’t go together. And in the end the people pay with misery for the blunders of their bosses.
“Obama scrambles to limit damage after Frank Wisner makes robust call for Mubarak to remain in place as leader…..Frank Wisner, President Barack Obama’s envoy to Cairo who infuriated the White House this weekend by urging Hosni Mubarak to remain President of Egypt, works for a New York and Washington law firm which works for the dictator’s own Egyptian government. Mr Wisner’s astonishing remarks – “President Mubarak’s continued leadership is critical: it’s his opportunity to write his own legacy” – shocked the democratic opposition in Egypt and called into question Mr Obama’s judgement, as well as that of Secretary of State Hillary Clinton. The US State Department and Mr Wisner himself have now both claimed that his remarks were made in a “personal capacity”. But there is nothing “personal” about Mr Wisner’s connections with the litigation firm Patton Boggs, which openly boasts that it advises “the Egyptian military, the Egyptian Economic Development Agency, and has handled arbitrations and litigation on the [Mubarak] government’s behalf in Europe and the US”.”
Three US warships dispatched to Egypt signal that Washington is stepping up efforts to secure the embattled regime of Hosni Mubarak.
The IMF’s Epic Fail on Egypt (naked capitalism)
Over the last week, we’ve had the spectacle of the Western media speculating about what is going on in Egypt in the absence of much understanding of the forces at work (this article by Paul Amar is a notable exception).
Needless to say, there has also been a great deal of consternation as to how the West’s supposedly vaunted intelligence apparatus failed to see this one coming. This lapse is as bad as the inability to foresee the collapse of the Soviet Union (it’s arguably worse: a lot of people profited from the Cold War, and they’d have every reason to fan fears and thus look for evidence that would support the idea that the USSR was a formidable threat. By contrast, one would think that conveying word that the domestic situation in Egypt was charged would have led to more intense scrutiny which ought to have served some interests (like various consultants and analysts). That suggests the US was so wedded to Mubarak that anyone who dared say his regime was at risk would get “shoot the messenger” treatment, and thus nary a discouraging word was conveyed).
Driving Through the Gates of Hell and Other American Pastimes in the Greater Middle East
“There is simply no basis for arguing that Democratic elites are pursuing poor strategy anymore. They are achieving an enormous amount of leverage within the party. Consider the following. Despite Obama violating every core tenet of what might have been considered the Democratic Party platform, from supporting foreclosures to destroying civil liberties to torturing political dissidents to wrecking unions, Obama has no viable primary challenger. Moreover, no Senate Democratic incumbent lost a primary challenge in 2010, despite a horrible governing posture. Now THAT is a successful strategy, it minimized the losses of the Democratic elite and kept them firmly in control of the party. Thus, the political debate remains confined to what neoliberals want to talk about. It’s a good strategy, it’s just you are the one the strategy is being played on.”
NakedCapitalism January 13, 2011
Yves here. I took the liberty of lifting this comment by Matt Stoller from a recent post, since it is informative in its own right and relevant to the piece today dissecting a mortgage proposal advanced by a think tank with close ties to the Administration.
By Matt Stoller, the former Senior Policy Advisor for Rep. Alan Grayson. His Twitter feed is @matthewstoller
Since the 1970s, Democratic elites have focused on breaking public sector unions and financializing the economy. Carter, not Reagan, started the defense build-up. Carter, not Reagan, lifted usury caps. Carter, not Reagan, first cut capital gains taxes. Clinton, not Bush, passed NAFTA. It isn’t the base of the Democratic party that did this, but then, voters in America have never had a lot of power because they are too disorganized. And there wasn’t a substantial grassroots movement to challenge this, either.
Obama continues this trend. It isn’t that he’s not fighting, he fights like hell for what he wants. He whipped incredibly aggressively for TARP, he has passed emergency war funding (breaking a campaign promise) several times, and nearly broke the arms of feckless liberals in the process. I mean, when Bernie Sanders did the filiBernie, Obama flirted with Bernie’s potential 2012 GOP challenger. Obama just wants policies that cement the status of a aristocratic class, with crumbs for everyone else (Republican elites disagree in that they hate anyone but elites getting crumbs). And he will fight for them.
Truth is where you find it
November 1, 2010
You may think that a nurse without an academic degree in economics would not be a good source of information about the ticking Debt Bomb that Wall Street lobbed into world financial markets in the last decade.
If you thought that you’d be wrong. Lisa Epstein offers what may be the clearest, to-the-point explanation of the astonishingly long chain of fraud behind the so called “mortgage-backed security” crisis I’ve heard.
Following her is Professor William Black who backs up her common sense analysis and points out that there have been more than one million cases of mortgage fraud per year- but no convictions.
Remember, while the Fed may have taken this “bad paper” off the books of a few banks, it’s done nothing for the thousands of pension plans, colleges, foundations, local government accounts and other funds that were sold this garbage.
This stuff was sold as AAA paper and was sold by the trillions. It’s everywhere.
For more Banking malfeasance videos, click here
By David DeGraw, AmpedStatus Report May 10, 2010
part of a longer article: The Financial Oligarchy Reigns: Democracy’s Death Spiral From Greece to the United States
Part of the reason we are in this mess, and the main reason why the American people don’t even know what is happening to them, is that the illusion machine (television) has removed the American population tragically far from reality. The gap between the news we see on TV, and what is actually happening in the world today, is the most severe it has ever been. We have been bred to be completely removed from reality. As famed American philosopher and psychologist John Dewey once said, “We live exposed to the greatest flood of mass suggestion that any people has ever experienced.”
The American people need to understand that creating, manipulating and controlling public opinion through mass media propaganda is a science. As social psychologist Kelton Rhoads wrote in his study, Universal Persuasion, Everyday Influence:
“Make no mistake. There are legions of influence agents operating in our society. They thrive — they exist at the pinnacles of power — by getting you to think things and to do things they want you to think and do… Most people are either unaware of these influences, or when they are, vastly overestimate the amount of freedom they have to make up their own minds. But the successful influence agent knows that if he can manage the situation and choose the correct technique, your response to his technique will be as reliable as the springing of a mousetrap.”
People with power have used this science to divide and conquer the United States. In 1923, Edward Bernays, the Godfather of propaganda wrote: “Propaganda is the executive arm of the invisible government.” William Blum in Rogue State wrote: “Propaganda is to a democracy what violence is to a dictatorship.” Harold Lasswell in 1927 declared: “The new antidote to willfulness is propaganda. If the mass will be free of chains of iron, it must accept its chains of silver. If it will not love, honor, and obey, it must not expect to escape seduction.”