Saturday, February 21, 2009

Money Is the Root of All Hypocrisy from Truthout

from http://www.truthout.org/022109Y

The great movie comic and professional curmudgeon W.C. Fields once said, "You can fool some of the people some of the time - and that's enough to make a decent living." Watching the news from Washington unfold this week, the truth of the late comedian's words never seemed more right.

    The antics of the august members of the House and Senate remind us once again that money is the root of all hypocrisy - especially in politics.

    Take United States Sen. Roland Burris, appointed by former Illinois governor and clown prince Rod Blagojevich to fill the seat vacated by Barack Obama. Testifying before the impeachment committee investigating Blagojevich, Senator Burris claimed he had no conversations with anyone from the governor's clan of cronies prior to his appointment. Now he says, oops, I just remembered - the governor's brother asked me to raise $10,000. Or was it $15,000?

    Luckily, Senator Burris still has some space in Chicago's Oak Woods Cemetery on that spiffy mausoleum he had built with a list of all his accomplishments. Like some ancient Egyptian pharaoh ordering up the hieroglyphics for his made-to-order pyramid, the senator has room to have inscribed there one final act of public service. "Resignation" would seem to fit rather neatly.

    Then there are Republican Congressmen John Mica of Florida and Don Young of Alaska. As the McClatchy News Service reported, both stood with their party - good and true, cool conservative men - voting against President Obama's economic stimulus. So did every other GOP House member. Twice. But then, eager to ride a gravy train with a popular president at the throttle, each of them had the chutzpah to issue press releases praising aspects of the stimulus package - while never mentioning they'd actually voted "nay." This was followed by the spectacle of several other Republican House and Senate members who voted against the stimulus going back home during the Presidents' Day recess and touting the money the bill will provide their constituents.

    But the prize of the week - the ever-loving, loving cup - goes to the multitude of Congress members - both Democrats and Republicans - who enjoyed balmy Caribbean breezes and substantial campaign contributions thanks to the largesse of financier Robert Allen Stanford, now accused of bilking investors of some $9 billion and, like W.C. Fields, making a decent living at it.

    Stanford prefers being called "Sir Allen," as befits a Texas charlatan. He was knighted by the governor-general of the West Indies island of Antigua, offshore headquarters for his alleged con game. He bankrolled "fact-finding" missions to Antigua and other Caribbean ports-of-call for several members of Congress, including Texas Republican Sen. John Cornyn and New York Democrat Charlie Rangel, chair of the powerful House Ways and Means Committee.

    Stanford Financial Group was a main sponsor of last month's Texas state pre-inaugural ball in DC and his political action committee gave $10,000 to help cover the costs of last year's congressional baseball game (the Republicans won, for the eighth year in a row, 11-10). "Sir Allen" partied with Nancy Pelosi and Bill Clinton at the Democratic National Convention last summer. And when Tom Delay was still House majority leader, he flew the friendly skies in Stanford's private jet 16 times in three years - including a trip to Houston for Delay's arraignment on money-laundering charges.

    Stanford showered millions on political campaigns, much of it from 2001-2002, the very time Congress was debating a bill to curb financial fraud with a computer network linking regulatory data bases. Two of the biggest recipients were Democratic Sen. Bill Nelson of Florida - who at the time was chairing the Democratic Senate Campaign Committee, another big beneficiary of Stanford love - and Republican Sen. John McCain. Three key Democrats on the Senate Banking Committee - then Chair Paul Sarbanes, Charles Schumer and Christopher Dodd received checks, too. The reform bill never got out of the Senate.

    According to the nonpartisan and indispensable Center for Responsive Politics, over the last decade, Robert Allen Stanford spent nearly $5 million lobbying the Senate and House, on top of $2.4 million in campaign contributions to federal candidates. Now that he has been tracked down by the FBI and charged with "massive, ongoing fraud," many politicians are rushing to give the money back to charity, including President Obama, whose campaign received $4,600.

    Altogether, however, Stanford's contributions were a spit in the bucket of what he's alleged to have swindled, and just a tiny slice of the multibillion-dollar pie the lobbying business has become in Washington. Already, lobbyists are jumping all over President Obama's economic stimulus, so much so that the Washington, DC, Examiner newspaper renamed the bill "The Lobbyist Enrichment Act" and reported that, "In the first weeks of this year, about 50 companies, trade associations, municipalities or nonprofits retained new lobbyists explicitly to lobby on the stimulus bill."

    According to Washington Post associate editor Robert G. Kaiser, the lobby industry "has helped moneyed interests protect their status and privileges, undermined government regulation of business and turned our elected officials into chronic money-chasers."

    Kaiser, an intrepid, longtime reporter and native Washingtonian, has a new book out titled, "So Damn Much Money: The Triumph of Lobbying and the Corrosion of American Government." He appeared as a guest on the current edition of "Bill Moyers Journal" on public television.

    The fix is in, he told my colleague Moyers, eliminating a fair competitive system. We should ask for more transparency, Kaiser suggests. And campaign finance reform would go a long way to making a difference, but he doesn't think it likely anytime soon.

    The "everybody does it" syndrome took over in Washington a long time ago and, in general, an indifferent, cynical public seems unmotivated to do anything about it. "They do not expect Congress to do the right thing," Kaiser said, "They do not expect high ethical standards. On the contrary."

    So why should the lobbyists and the government stop their profitable roundelay if we fail to do anything to stop the music and fall for the "everybody does it" meme? Do we deserve what we get? The way lobbyists, special interests and politicians regard the citizenry brings to mind another W.C. Fields aphorism, the title of one of his movies: "Never Give a Sucker an Even Break."


Kucinich on Stanford Group Fraud: SEC Told to “Stand Down” by Unknown Federal Agency in 2006 from cryptogon.com



Dennis Kucinich is trying to determine which federal agency told the SEC to stand down with regard to Allen Stanford in 2006.

Which agency?

Well, last Tuesday (17 February 2009), Allen Stanford was unable to charter a private jet to take him from Houston to Antigua. Then, of all the places he could have gone, where did he turn up two days later?

Virginia. With an unidentified woman. At a private residence. With the FBI waiting for him at that private residence.

Some guesses:

Maybe he had to come in from the cold to get instructions on how this was going to play out. He wants to stay alive. He wants his family to stay alive. Obviously, he's not going to talk on the phone. So he drives, and drives and winds up in Virginia.

Sure, it could be a Coincidence that Virginia just happens to be the home of the U.S. Central Intelligence Agency… But why Virginia, of all places?

To meet the CIA case officer who has been tasking him?

Who was the unidentified woman in the car? Is she his handler? I doubt that his handler would show up for a meeting with the J Edgars, but who knows what arrangements were made?

Where is Allen Stanford right now? "…A day later Stanford was nowhere to be seen in the historic Virginia town."

Questions, questions.

This has to get rolled up. This has to go away.

UPDATE: The Woman's Name is Andrea Stoelker, She's Stanford's Girlfriend

This is just too much:

rest http://cryptogon.com/?p=7094

 

Obama's DOJ Quietly Sought Dismissal of Missing E-Mails Lawsuit from TPR: The Public Record


By Jason Leopold

One day after he was sworn in as President of the United States and in the same week signing executive orders ushering in a new era of government transparency, Barack Obama's Justice Department quietly filed a motion in federal court to dismiss a long-running lawsuit that sought to force the Bush administration to recover as many as 15 million missing White House e-mails.

In a legal briefs filed Jan. 21, the Justice Department admitted that a secretive restoration process implemented during George W. Bush's last months in office was still incomplete, and that a bulk of the e-mails sent between 2003 and 2005 were deleted from servers in the Executive Office of the President and unrecoverable. The missing e-mails cover a time-frame that included the lead up to the Iraq war, a lawsuit involving the identities of individuals and corporations who advised Dick Cheney on energy policy and the leak by White House officials of covert CIA operative Valerie Plame's identity.

But despite it all, the newly minted Obama administration said in court papers that the issue revolving around the missing e-mails is "moot" because some steps, however incomplete, have been taken by the Bush White House to preserve and restore missing e-mails, even though the work has been conducted under the cover of secrecy by an unknown outside contractor hired by Bush administration officials.

rest http://www.pubrecord.org/politics/699-obamas-doj-quietly-sought-dismissal-of-missing-e-mails-lawsuit.html

US Bancorp Blasts TARP As Giant Bait And Switch On America from Consumerist


U.S. Bancorp CEO Richard Davis took shotgun blasts to the TARP program for being a fat big lie. "We were told to take it so that we could help Darwin synthesize the weaker banks and acquire those and put them under different leadership," Davis said. OMG - truth alert!

"We are not even allowed to mention that. ...We were supposed to say the TARP money was used for lending." He went on to say he would be "darned" if US Bancorp were to become part of of the "collateral damage" from the government's "sloppy attempt at nationalizing the [banking] industry." In so doing, Davis became the first major banking CEO to not talk horseshit since the crisis began.

rest http://consumerist.com/5157866/us-bancorp-blasts-tarp-as-giant-bait-and-switch-on-america

If Not Nationalization, Then What? from Think Progress


geith.jpgThe question that everyone seems to be asking about the Obama administration's plan for the financial system is: "Should the United States nationalize some banks?"

There's been a chorus of calls for nationalization — from Paul Krugman and Nouriel Roubini to Alan Greenspan and Lindsey Graham — which thus far the Obama administration has resisted. As Roubini noted, however, the "stress test" that Treasury Secretary Timothy Geither proposed in his financial stability plan naturally leads to nationalization:

[T]he reality is that Mr. Geithner is going to confirm the insolvency of the financial system. Once we face this truth, there really isn't much left to do but nationalize. We are not talking about the government operating the banks for the long-term. But, as was done in Scandinavia in the early 1990s, we are talking about orderly clean up, then reselling the banks to private investors.

Of course, there is the question of the political viability of nationalization. Obama has argued that "America's different," and won't stand for nationalization. And as The Hill noted, federal ownership of troubled banks would play into false claims that Obama is a socialist.

But if not nationalization, then what? Geithner's public-private investment fund may get toxic assets off the banks' books, but nationalization is a more straightforward process, and doesn't depend on Wall St. being willing to buy the junk currently clogging up the banks. And the longer nationalization is delayed, the longer the solvency of the entire banking system will be in question. Thus, more good banks will get dragged down into the mud with the bad.

rest http://thinkprogress.org/2009/02/21/nationalizing-banks/

Nearly 75% of ex-Bush staff seeking jobs unemployed from Raw Story Breaking News

Nearly 75% of ex-Bush staff seeking jobs unemployed

While the market for job-seekers in the United States might be sour, for most it isn't as impenetrable as it is for the nearly 3,000 former members of the Bush administration.

Between 70-75 percent who are looking for full-time work still haven't found new jobs, according to a Saturday report by the Wall St. Journal.

"That 'is much, much worse' than when Ronald Reagan, George H.W. Bush and Bill Clinton left the White House," Carlos M. Gutierrez, who served as Bush's commerce secretary, told the paper.

For many, the traditional refuge of conservative think tanks in Washington, D.C. has become a Fort Knox, with almost no positions available, and certainly not for lower-rung Bush officials.


rest http://rawstory.com/news/2008/For_exBush_officials_nearly_75_percent_0221.html

Republican Congressman Says Republicans Will Cancel Stimulus Bill If They Retake Majority in 2010 from Crooks and Liars


It's good to have dreams and aspirations, isn't it? Too bad that the Republican party's aspirations appear to be centered on destroying the country. After two decades of nearly unfettered access to run the nation, the Republicans are trying their damndest to obstruct and torpedo the stimulus bill and any success that President Obama might have.

And they actually think this will win them supporters. Astonishing. Even David Frum, who hasn't seen a really bad idea he wouldn't cheerlead, as long as it came out of the mouth of a Republican, thinks the GOP is "brain dead".

rest http://crooksandliars.com/nicole-belle/republican-congressman-says-republica

"State of the Dream 2009" & How 30 Years of Conservative Economics Has Stiffled Black Progress from Open Left

On Thursday, Dedrick Muhammad, co-author of the new report "State of the Dream 2009: The Silent Depression", from United for a Fair Economy, appeared on Democracy Now.  Right off the top, he said:

I think one of the most important findings is that-the idea that the African American community never emerged out of the 2001 recession. As the country was talking about things were going well in 2005, 2006, we saw that African Americans were actually having a decline in the employment rate, a decline in per capita income.

Prompted by Juan Gonzales on the issue of the wealth gap, Muhammad continued:

The overwhelming majority of African Americans and Latinos do not even have a savings enough that would keep them going for three months. And as you see growing unemployment and, what's not talked enough about, underemployment, there is not that safety cushion to help you get through hard times. African Americans only have about 15 percent of the wealth of white Americans. And so, again, African American community, Latino communities, and also just working-class communities as a whole, are in a much more dire situation than I think is truly recognized. And we need some political courage to deal with these issues adequately.

rest http://www.openleft.com/showDiary.do?diaryId=11762

Recession Watch: 14,000 Americans a Day Are Losing Health Insurance from Pensito Review


Layoffs are causing as many as 14,000 people to lose their health insurance every day, according to projections by the Center for American Progress and based on Urban Institute research:

Private companies — the health plans — have had at least since 1993 when they killed Hillarycare to come up with a solution. It's been 16 years. Not only have they not solved the crisis, it is getting worse by the minute.

The data [showed that] a 1 percentage point rise in the national unemployment rate causes 2.4 million people to lose employer-sponsored health coverage.

Of these, the think tank said, 1 million people turn to Medicaid or the State Children's Health Insurance Program and 1.1 million end up uninsured.

Data released on Thursday showed U.S. jobless numbers rose to a record high in early February of 4.99 million people, an unemployment rate of 3.7 percent.

The percentage of these uninsured people who will be forced into bankruptcy and maybe homelessness because they can't pay their medical bills is unknown.

rest http://www.pensitoreview.com/2009/02/21/recession-watch-14000-losing-health-insurance-per-day/

Friday, February 20, 2009

Market Becomes Convinced That Banks Will Be Nationalized, Freaks Out from Consumerist


Shares of banking stocks are dragging down the markets as investors become increasingly convinced that the banks will be nationalized, says Reuters. Investors are shunning the companies, worried that shareholders will be wiped out in a government takeover, and are fleeing to U.S. Government bonds and gold, which rose to above $1,000 an ounce.

rest http://consumerist.com/5157251/market-becomes-convinced-that-banks-will-be-nationalized-freaks-out

Utah state senator to lose his committee chairmanship after homophobic diatribe. from Think Progress


buttars-bw.jpgEarlier this week, documentary film makers released the audio portion of an interview with Utah state senator Chris Buttars (R), who called gay people "the greatest threat to America going down," labeled homosexuality "a sexual perversion," and compared gays to alcoholics. Today, the Salt Lake Tribune reports that Buttars' Republican colleagues have decided to kick him out of the state senate judiciary committee:

rest http://thinkprogress.org/2009/02/20/buttars-loses-committee/

Taking Credit for the Stimulus: Republicans Reach ‘Height of Hypocrisy’ from The Washington Independent


This was inevitable.

Despite unanimous opposition from House Republicans to the Democrats' $787 billion economic stimulus plan, members of the GOP are now cheering certain elements of the bill that will benefit their districts, The New York Times reports today.

Just hours after voting against the bill on the House floor last week, Representative John L. Mica of Florida issued news releases lauding the inclusion of $8 billion for high-speed rail projects around the nation. Mr. Mica said the bill would also help pay for a commuter train project in his Central Florida district.

"If we could put a man on the moon, we should be able to move people from city to city quickly instead of wasting time on a congested highway," said Mr. Mica, the ranking Republican on the House Transportation and Infrastructure Committee. "I applaud President Obama's recognition that high-speed rail should be part of America's future."

rest http://washingtonindependent.com/30832/taking-credit-for-the-stimulus-republicans-reach-height-of-hypocrisy