Truemors
Let's hear it again, read it out loud so it sinks in too...
THE GREATEST THEFT IN THE HISTORY OF HUMANKIND
http://www.alternet.org/workplace/99876/
Could it be that it is far easier to abuse a nation of village idiots than well educated & informed citizens ?
OH BY THE WAY...
Section 8 of the proposed legislation says it all:
"Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."
"All Hail Caesar!" The days of the republic are over.
"Politics is the entertainment branch of industry." - Frank Zappa
10 Things You Should Know About Bush's Trillion Dollar Fleecing Plan
It is an economic coup d'etat in the making. And people are talking about little else. Here's 10 things that have been on our radars ... http://www.alternet.org/workplace/99876/
The Dirty Secret of the Bailout That No One Is Talking About
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
http://www.alternet.org/blogs/peek/99842/
Now Is the Time To Resist Wall Street's Shock Doctrine
by Naomi Klein http://www.alternet.org/blogs/workplace/99885/
We must not let the right use this economic crisis to push through their policy wish list.
I wrote The Shock Doctrine in the hopes that it would make us all better prepared for the next big shock. Well, that shock has certainly arrived, along with gloves-off attempts to use it to push through radical pro-corporate policies (which of course will further enrich the very players who created the market crisis in the first place...).
The best summary of how the right plans to use the economic crisis to push through their policy wish list comes from Former Republican House Speaker Newt Gingrich. On Sunday, Gingrich laid out 18 policy prescriptions for Congress to take in order to "return to a Reagan-Thatcher policy of economic growth through fundamental reforms." In the midst of this economic crisis, he is actually demanding the repeal of the Sarbanes-Oxley Act, which would lead to further deregulation of the financial industry. Gingrich is also calling for reforming the education system to allow "competition" (a.k.a. vouchers), strengthening border enforcement, cutting corporate taxes and his signature move: allowing offshore drilling.
Is this starting to sound familiar? Robert Kuttner cuts through much of the gloss in an article in today's American Prospect:
The deal proposed by Paulson is nothing short of outrageous. It includes no oversight of his own closed-door operations. It merely gives congressional blessing and funding to what he has already been doing, ad hoc. He plans to retain Wall Street firms as advisors to decide just how to cut deals to value and mop up Wall Street's dubious paper. There are to be no limits on executive compensation for the firms that get relief, and no equity share for the government in exchange for this massive infusion of capital. Both Obama and McCain have opposed the provision denying any judicial review of decisions made by Paulson -- a provision that evokes the Bush administration's suspension of normal constitutional safeguards in its conduct of foreign policy and national security. [...]
The differences between this proposed bailout and the three closest historical equivalents are immense. When the Reconstruction Finance Corporation of the 1930s pumped a total of $35 billion into U.S. corporations and financial institutions, there was close government supervision and quid pro quos at every step of the way. Much of the time, the RFC became a preferred shareholder, and often appointed board members. The Home Owners Loan Corporation, which eventually refinanced one in five mortgage loans, did not operate to bail out banks but to save homeowners. And the Resolution Trust Corporation of the 1980s, created to mop up the damage of the first speculative mortgage meltdown, the S&L collapse, did not pump in money to rescue bad investments; it sorted out good assets from bad after the fact, and made sure to purge bad executives as well as bad loans. And all three of these historic cases of public recapitalization were done without suspending judicial review.
THE FINANCIAL MELTDOWN EXPLAINED !
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