Category: 13. Rampant Cronyism and Corruption
-
California is the New Greece
Schwarzenegger Warns Of “Terrible Cuts, Absolutely Terrible Cuts” Coming In California: As the state grapples with a horrible budget situation, Arnold Schwarzenegger is warning of pain ahead. Specifically, according to the SacBee, Schwarzenegger press secretary Aaron McLear said: “What you can expect generally is no taxes and terrible cuts, absolutely terrible cuts… We’re not going to get […]
-
Congress Won't Outlaw Insider Trading for Congress Members
The Wall Street Journal reports today a House bill that would force lawmakers to make greater disclosures on financial transactions and disallow them from trading on nonpublic information is going nowhere fast. That’s right. Members of Congress are currently allowed to profit on insider trading! The bill, which has been languishing in the House for four years, […]
-
SPIEGEL: Huge National Debts Could Push Euro Zone into Bankruptcy
The ‘mother of all bubbles’: All of the major industrialized countries have lived beyond their means for decades… The United States, in particular, paid for its prosperity on credit… Things couldn’t possibly go well forever and, indeed, the financial crisis put an end to the days of unfettered spending… In March, the rating agencies Standard & […]
-
Peter Schiff on Alan Greenspan Attempt to Dodge Responsibility
YouTube – Alan Greenspan & ABC Challenge.
-
Flint, Michigan Burns to the Ground
Since the mayor closed fire stations and laid off firefighters, there have been over 50 fires in the city in the past week. via paxtonland
-
The Democrats' Scam
Glenn Greenwald details the spineless weaseling of the Democrats in the Congress: All year long, [Congressional Democrats] insisted that the White House and a majority of Democratic Senators vigorously supported a public option, but .. sadly, we have 50 but not 60 votes for it….. [A]dvocates of the public option kept arguing that the public […]
-
Democrats and Villain Rotation
Glenn Greenwald breaks it down: This is what the Democratic Party does; it’s who they are. They’re willing to feign support for anything their voters want just as long as there’s no chance that they can pass it. They won control of Congress in the 2006 midterm elections by pretending they wanted to compel an end […]
-
No One Knows How Goldman Sachs Makes Money
PBS economist Paul Solman answers viewer mail: Fact is, no one knows for sure where Goldman’s profits come from. So here’s the request: If YOU know how Goldman has been making its money – taking advantage of credulous clients, say, or front-running the big ones (see below) – please write and let us know…. [H]ere’s […]