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Posts Tagged ‘Scam

Surrendercapitulationsell-outscamstampedemanagedsubmissionWeimarmoment

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Welcome to the end of a great democratic experiment.

Krugman Calls Obama’s ‘Surrender’ a ‘Catastrophe on Multiple Levels’ — Here’s one way to feel worse about the debt ceiling deal announced by the president Sunday night: Read Paul Krugman’s column. The Nobel Prize-winning economist is about as harsh in his assessment of the deal as can be, saying it “will take America a long way down the road to banana-republic status.”

Rasmus: The $1 Trillion Debt Deal  Today’s Boehner-Reid final agreement effectively drops explicit cuts in Defense, another Republican position all along.

ROBERT BOROSAGE:    Capitulation

President Obama’s surrender
By Andrew Leonard
A bad weekend for the White House: The Tea Party wins, Democrats lose, and the carnage will be even worse next year

Democratic politics in a nutshell
By Glenn Greenwald
Report: Dems don’t worry about angry liberals — they’ll just scare them into submission with pictures of Bachmann

Arthur Silber:  The Priorities of the Damned

I’ll use a blunt and, I fervently hope, unsettling comparison. All of these repellent people have decided to rape “ordinary” Americans until they’re dead. They’re only debating who gets to rape them next. And what these human slugs know but will never acknowledge, and what they hope you won’t notice, is that they can’t even get it up anymore.

A Bad Solution to a Manufactured Crisis

It goes to show just how dysfunctional our government has become to ordinary Americans. Despite the fact that millions of us are still out of work because of the greed and excess of the last thirty years and resulting crashed economy, politicians cannot focus on real problems.

Top Economist: Deficit Deal ‘Will Do Great Harm to Our Nation’

Obama & the Fake Debt Ceiling Crisis: This President Is Really Just Smarter Than You Are

But what if President Barack Obama never intended to fight for jobs or justice? What if he believes the nonsense about Wall Street being “job creators” instead of economic vampires? What if Cornel West finally got it right? What if Black Agenda Report has been right all along? What if Barack Obama is a Reagan Democrat in every meaningful way, right down to a fanatical belief in trickle down economics? What if the president counts on corporate media and his army of careerists and sycophants to shut down and cover up cracks in the Obama consensus through which reality might leak? What if Obama is not weak, or timid, or vacillating or waiting for us to “make him do it”? What if what we’ve seen is all there is, all there ever was? The truth is that Barack Obama’s actions are entirely rational, understandable and even predictable if you suppose him to have been a vicious, vacuous and cynical right wing operative from the very beginning.

Why the Debt Ceiling Deal Strengthens the Radical Right and Weakens America

By Robert Reich   The deal’s spending cuts increase the odds of a double-dip recession and strengthens the political hand of the radical right.

RICHARD ESKOW
Four Ways the Deal Hurts You
“1. You’ll be less likely to find a job if you’re looking. If you’ve got a job, you’re less likely to earn more

money–and more likely to lose it … 2. Your housing value is likely to suffer … 3. Your old age just got scarier …

4. Your tax bill is likely to go way up.”

Debt Ceiling Bill May Hurt Science

Senator Bernie Sanders interview about the debt debacle:

Over Bernie’s strong opposition, Congress approved and President Obama signed a deficit-reduction deal that slashes programs for working families without asking the wealthiest Americans and the most profitable corporations to pay a nickel more. “This country needs deficit reduction, but we need to do it in a way that is fair and which will result in economic growth and job creation.  This proposal does neither,” the senator said. In a Senate speech and a flurry of television interviews, Bernie called the deal  “extremely unfair,” “immoral” and “grotesque.”

Written by laudyms

August 1, 2011 at 5:16 pm

Fraudonomics- The big dirty secret of fraud crackdown

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When you use the Mafia as a business model, this result should be no surprise.

The big dirty secret of why you should worry about a fraud crackdown more than Goldman Sachs—revealed for the first time by an anonymous private equity ‘hypocrite’ and ‘liar.’

By Mark Ames

NYPress.com April 28, 2010

There was a strange moment last week during President Obama’s speech at Cooper Union. There he was, groveling before a cast of Wall Street villains including Goldman Sachs chief Lloyd Blankfein, begging them to “Look into your heart!” like John Turturro’s character in Miller’s Crossing…when out of the blue, the POTUS dropped this bombshell: “The only people who ought to fear the kind of oversight and transparency that we’re proposing are those whose conduct will fail this scrutiny.”

The Big Secret, of course, is that every living creature within a 100-mile radius of Cooper Union would fail “this scrutiny”—or that scrutiny, or any scrutiny, period. Not just in a 100-mile radius, but wherever there are still signs of economic life beating in these 50 United States, the mere whiff of scrutiny would work like nerve gas on what’s left of the economy. Because in the 21st century, fraud is as American as baseball, apple pie and Chevrolet Volts—fraud’s all we got left, Doc. Scare off the fraud with Obama’s “scrutiny,” and the entire pyramid scheme collapses in a heap of smoldering savings accounts.

That’s how an acquaintance of mine, a partner in a private equity firm, put it: “Whoever pops this fraud bubble is going to have to escape on the next flight out, faster than the Bin Laden Bunch fled Kentucky in their chartered jets after 9/11.”

And that’s why this SEC suit accusing Goldman Sachs of fraud is really just a negotiating bluff to give Obama’s people some leverage—or it’s supposed to be, anyway—according to the PE guy. He dismissed all the speculation that the fraud investigations would turn on other obvious villains like Deutsche, Merrill, Paulson & Co., the Rahm Emmanuel-linked Magnetar and so on.

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How Private Health Insurers Purchased Healthcare Reform

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“they all must go!”

Billy Wharton / March 31st, 2010   DissidentVoice.org

In a moment of frank political revelation, Firedoglake reports that Senator Max Bacchus has confirmed that former WellPoint Vice President Liz Fowler wrote substantial portions of the recently approved Patient Protection and Affordable Care Act. Left-wing opponents of the bill had already claimed that private insurers exercised significant influence on the proceedings in the House and Senate. Bacchus’ revelation takes these claims to a new level as they prove that the private health insurance lobby literally wrote the bill that is being passed off as a “reform” of the healthcare system.

Bacchus cited the contributions made by Liz Fowler during floor proceedings in the Senate. “Liz Fowler worked for me many years ago,” he proudly stated from the microphone, “left for the private sector, and then came back when she realized she could be there at the creation of health care reform because she wanted that to be, in a certain sense, her profession lifetime goal.” Fowler went on to author the influential White Paper that formed the basis for the eventual legislation.

WellPoint is a notorious private insurer. In 2007, it was revealed that the company operated an extensive department entirely dedicated to carrying out procedure denials and insurance cancellations. In 2009, WellPoint’s affiliate, Anthem Blue Cross and Blue Shield, sued the state of Maine in an attempt to force the state to guarantee that the company would receive at least a 3% annual return from selling insurance policies in the state. Not surprisingly, the company has also been a campaign contributor to Bacchus’ senatorial runs.

Liz Fowler’s pro-corporate credentials run far deeper than WellPoint. She began her career as an attorney at Hogan & Hartson, a massive corporate law and lobbying firm. The firm is an active campaign contributor, including, according to the Center for Responsive Politics, contributions of $2,000 to Bacchus’ campaigns in 2002 and 2006. There are currently 60 Hogan & Hartson lobbyists working in Washington representing hundreds of corporations, including dozens of health insurers and pharmaceutical companies.

All of this explains why the Senate Finance Committee was converted into the healthcare sinkhole. Senators on the committee received an inordinately high amount of campaign contributions from the health insurance industry, $8 million from PAC’s and $6 million from individuals, in 2010 to insure its loyalty. Liberal proposals for a “public-option” went down in flames here and when single-payer activists attempted to participate in the debate on the bill, Bacchus joked that “we may need more police.” The police arrived promptly and removed anyone who dared to speak against a process clearly designed to screw them.

This is how politics works for the Democrats and Republicans. The door between private industry and public policy has swung wide open. Corporate money rules politics. Bacchus apparently feels confident that the American public has sunk to a level of stupidity so low that he can pass off Fowler’s pro-corporate role as some sort of public service. Shameful.

Fowler and Bacchus are just one manifestation of a larger corrupt political process that has slipped so far out of the hands of everyday Americans that there is no going back. A slogan developed during the most recent financial crisis in Argentina might best capture what needs to happen going forward “they all must go.”

Joe Bageant: The Devil and Mr. Obama

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Joe Bageant

Barack promised change — and sure enough, things changed for the worse

(Note: Patrick Ward, associate editor of the UK’s Socialist Review asked Joe to write a piece for the party publication. This is the unabridged text of Joe’s submission.)

By Joe Bageant

Well lookee here! An invite from my limey comrades to recap Barack Obama’s first year in office. Well comrades, I can do this thing two ways. I can simply state that the great mocha hope turned out to be a Trojan horse for Wall Street and the Pentagon. Or I can lay in an all-night stock of tequila, limes and reefer and puke up the entire miserable tale like some 5,000 word tequila purged Congolese stomach worm. I have chosen to do the latter.

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