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AltBib.Com is a free, research database with articles, documents and videos shining light on interesting topics. Most links are to significant information 'validated' as 'true' by the Mainstream Media, sometimes buried in the final paragraphs, which are directly referenced by the Alternative Media/New Media in creating controversial alternative analysis. So check out some mainstream evidence and see if you naturally end up agreeing with an alternate analysis.

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Documents are largely from what is referenced by interesting films, Prison Planet/Infowars and the Corbett Report. This database is a quick reference and for your analysis, more independent from others' interpretations. The database includes almost all source documents and articles from these films: Loose Change (Final Cut & 2nd Edition), Fabled Enemies, The Obama Deception, End Game, Martial Law 9/11, American Dictators, Matrix of Evil, Zeitgeist: Addendum, Who Killed The Electric Car?, The World According To Monsanto, Mind The Gap, and 7/7 Ripple Effect.

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2/19/2012 Is This the End of Market Democracy?
The 2012 election will offer voters a stark choice between right and left alternatives. President Obama is calling for: investing in things like education that gives everybody a chance to succeed. A tax code that makes sure everybody pays their fair share. And laws that make sure everybody follows the rules. That’s what will transform our economy. That’s what will grow our middle class again. Republicans, in turn, are denouncing the expansion of a Democratic “entitlement society” and what they see as a trend toward European social democracy. They are calling for sharply reduced taxes, regulation and government spending to free market forces and revive private sector economic growth. While Americans are going to be able to choose between two contrasting ideologies, what if both choices are off the mark? What if the legitimacy of free market capitalism in America is facing fundamental challenges that the candidates and their parties are not addressing? Here are some of the issues that are making some politicians and political thinkers uneasy: Are large segments of the American workforce — millions of people — at a structural disadvantage in the face of global competition, technological advance and ever more sophisticated forms of automation? Is this situation permanent? Will the share of profits from improving corporate productivity flowing to capital and to high-earning C.E.O.s continue to grow, while the income of wage earners stagnates and their share of profits declines? Has the surging wealth and income of the top one percent and of the top 0.1 percent reached a tipping point at which the political leverage of the very affluent decisively outweighs the influence of the electorate at large? Is it possible that in the United States and Europe, democratic free market capitalism is no longer capable of providing broadly shared benefits to a solid majority of workers?
(New York Times)
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posted: 2/21/12                   0       4
#1 



2/9/2012 The Top Twelve Reasons Why You Should Hate the Mortgage Settlement
As readers may know by now, 49 of 50 states have agreed to join the so-called mortgage settlement, with Oklahoma the lone refusenik. Although the fine points are still being hammered out, various news outlets (New York Times, Financial Times, Wall Street Journal) have details, with Dave Dayen’s overview at Firedoglake the best thus far. The Wall Street Journal is also reporting that the SEC is about to launch some securities litigation against major banks. Since the statue of limitations has already run out on securities filings more than five years old, this means they’ll clip the banks for some of the very last (and dreckiest) deals they shoved out the door before the subprime market gave up the ghost. The various news services are touting this pact at the biggest multi-state settlement since the tobacco deal in 1998. While narrowly accurate, this deal is bush league by comparison even though the underlying abuses in both cases have had devastating consequences. The tobacco agreement was pegged as being worth nearly $250 billion over the first 25 years. Adjust that for inflation, and the disparity is even bigger. That shows you the difference in outcomes between a case where the prosecutors have solid evidence backing their charges, versus one where everyone know a lot of bad stuff happened, but no one has come close to marshaling the evidence.
(Naked Capitalism)
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posted: 2/13/12                   0       7
#2 



2/8/2012 49-State Foreclosure Fraud Settlement Will Be Finalized Thursday
Forty-nine states, every one but Oklahoma, as well as federal regulators will participate in a foreclosure fraud settlement that will release the five biggest banks (Wells Fargo, Citi, Ally/GMAC, JPMorgan Chase and Bank of America) and their mortgage servicing units from liability for robo-signing and other forms of servicer abuse, in exchange for $25 billion in funding for legal aid, refinancing, short sales, restitution for wrongful foreclosures and principal reduction for underwater borrowers. The announcement will be made on Thursday. This settlement arises from multiple abuses found in the servicing of loans and the foreclosure process over the past several years. At the height of the housing bubble, banks sliced and diced mortgages and traded them with little regard for the rules following land recording or securitization to such a sloppy extent that they lost track of the true owner on potentially millions of homes. To cover up for this massive failure, banks and their servicing units have been found to have routinely forged, back-dated and fabricated documents at county recorder offices and state courts across the country. Furthermore, they employed “robo-signers,” who signed hundreds of thousands (if not millions) of documents and affidavits without any knowledge of the underlying mortgages. In addition, investigations uncovered massive servicing abuses, including illegal fees charged to borrowers, putting borrowers into foreclosure at the same time as they were working out loan modifications, failing to honor previous settlements where promises were made on modifications, and countless other errors that maximized servicer profits and gouged homeowners. There are also cases of wrongful foreclosures where homeowners have been turned out of their homes without just cause, and servicer-driven foreclosures, where servicers illegally added late fees and applied payments inaccurately, pushing the homeowner into foreclosure. This is but a smattering of the examples of foreclosure fraud and servicer abuse found in a series of interlocking investigations, court depositions, reviews of documents in registers of deeds offices, and homeowner testimonials.
(Fire Dog Lake)
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posted: 2/13/12                   0       7
#3 
keywords: Ally Financial, Arizona, Bank Of America, Beau Biden, California, Catherine Cortez Masto, Chris Koster, Citigroup, Countrywide, David Dayen, Delaware, Docx, Eric Schneiderman, Financial Crisis, Financial Fraud Task Force, Foreclosure, Gus Altuzarra, Iowa, JP Morgan Chase, Joseph Smith, Kamala Harris, Lps, Martha Coakley, Massachusetts, Mers, Missouri, Nevada, New York, North Carolina, Oklahoma, Residential Mortgage-backed Securities, Scott Pruitt, Shaun Donovan, The New York Times, Tom Miller, US Department Of Housing And Urban Development, US Department Of Justice, United States, Vertical Capital Markets Group, Wells Fargo Add New Keyword To Link



2/7/2012 Sacramento's Utilities Rates Advisory Commission approves water rate hikes
Sacramento's Utilities Rates Advisory Commission voted 5-2 to raise water rates in the city by $19 a month over the next three years. The reason for the rate hike? It is to gain a loan from Goldman Sachs to renovate an aging water system. But that loan is going to raise water and sewer bills from $57 monthly to $350 a month in just 15 years. The city council still must give its approval before the rate cuts are final. But officials seem more and more in support of this measure. City Council members must hear from their constituents that these rate hikes are unsustainable. In a city with near 11 percent unemployment, raising water and sewer bills will only put more financial strain upon the city's residents. Also residents should be aware that this loan comes with a $10.8 million underwriting fee for Goldman Sachs. The loan itself would total $1.8 billion, and Goldman Sachs would also be making profit off that through interest. Sacramento is a city that is already struggling with painful budget cuts. Sacramento has had to lay off police and firefighters, as well as hundreds of teachers and other city employees. The city has closed libraries, and discontinued other public services. Can the city afford this loan?
(Examiner)
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posted: 2/13/12                   0       7
#4 



2/2/2012 America's Most Miserable Cities
1-10: Miami, Detroit, Flint, West Palm Beach, Sacramento, Chicago, Fort Lauderdale, Toledo, Rockford, Warren Miami is a playground for the rich and famous. Celebrities flock to parties at South Beach clubs and then return to their $10 million mansions in Miami Beach and Key Biscayne. It’s a leading city in culture, finance and international trade. But away from the glitz and glamor, many ordinary Miamians are struggling. A crippling housing crisis has cost multitudes of residents their homes and jobs. The metro area has one of the highest violent crime rates in the country and workers face lengthy daily commutes. Add it all up and Miami takes the top spot in our ranking of America’s Most Miserable Cities. The most famous way to gauge misery is the Misery Index developed by economist Arthur Okun in the 1960s, which combines unemployment and inflation. Our take on misery is based on the things that people complain about on a regular basis. We looked at 10 factors for the 200 largest metro areas and divisions in the U.S. Some are serious, like violent crime, unemployment rates, foreclosures, taxes (income and property), home prices and political corruption. Other factors we included are less weighty, like commute times, weather and how the area’s pro sports teams did. While sports, commuting and weather can be considered trivial by many, they can be the determining factor in the level of misery for a significant number of people. One tweak to this year’s list: we swapped out sales tax rates for property tax rates. Miami would have finished No. 1 under the old methodology as well (click here for more details about the criteria for the list).
(Forbes)
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posted: 2/19/12                   0       6
#5 
keywords: Arthur Okun, Chicago, Detroit, Financial Crisis, Flint, Fort Lauderdale, Miami, Rockford, Sacramento, Toledo, United States, Warren, West Palm Beach Add New Keyword To Link



1/28/2012 How I woke up to the untruths of Barack Obama: The President's State of the Union address was as weaselly as any politician's could be.
When I happened to wake up in the middle of the night last Wednesday and caught the BBC World Service’s live relay of President Obama’s State of the Union address to Congress, two passages had me rubbing my eyes in disbelief. The first came when, to applause, the President spoke about the banking crash which coincided with his barnstorming 2008 election campaign. “The house of cards collapsed,” he recalled. “We learned that mortgages had been sold to people who couldn’t afford or understand them.” He excoriated the banks which had “made huge bets and bonuses with other people’s money”, while “regulators looked the other way and didn’t have the authority to stop the bad behaviour”. This, said Obama, “was wrong. It was irresponsible. And it plunged our economy into a crisis that put millions out of work.” I recalled a piece I wrote in this column on January 29, 2009, just after Obama took office. It was headlined: “This is the sub-prime house that Barack Obama built”. As a rising young Chicago politician in 1995, no one campaigned more actively than Mr Obama for an amendment to the US Community Reinvestment Act, legally requiring banks to lend huge sums to millions of poor, mainly black Americans, guaranteed by the two giant mortgage associations, Fannie Mae and Freddie Mac. It was this Act, above all, which let the US housing bubble blow up, far beyond the point where it was obvious that hundreds of thousands of homeowners would be likely to default. Yet, in 2005, no one more actively opposed moves to halt these reckless guarantees than Senator Obama, who received more donations from Fannie Mae than any other US politician (although Senator Hillary Clinton ran him close).
(London Telegraph)
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posted: 1/29/12                   0       7
#6 
keywords: Alternative Energy, BBC, Baghdad, Barack Obama, Big Oil, Camp Ashraf, Camp Liberty, Carbon Dioxide, Chicago, Climate Change, David Phillips, European Council, Fannie Mae, Financial Crisis, Freddie Mac, Hillary Clinton, Hollywood, Igor Judge, Iran, Iranian Revolutionary Guards, Iraq, Martin Kolber, Military, National Council For Resistance IN Iran, Natural Gas, Nouri Al-maliki, People's Mujahideen Of Iran, Real Estate, Residential Mortgage-backed Securities, Rudy Giuliani, Tehran, Terrorists, US Congress, US Department Of State, United Kingdom, United Nations, United States, Wall Street, White House, Wind Turbines Add New Keyword To Link



1/21/2012 COSTA CONCORDIA: A disaster with the signature of the Illuminati

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posted: 2/19/12      
            
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#7 
keywords: Costa Concordia, European Union, Financial Crisis, Illuminati, Titanic Add New Keyword To Link



1/14/2012 Sacramento's City Manager is demanding city employees pay more for pensions
Sacramento's City Manager, John Shirey, threatened that 100 city employees would be laid off, unless all city employees paid more money towards their pensions. Currently, most city employees pay four percent of their paycheck to their pension; Shirey wants that raised to seven percent. If Shirey's proposal is enacted it would save the city $14.2 million. Seems like a simple enough solution right? But what Shirey is leaving out of the story is that raising pension contributions is another word for pay cuts. Years ago the city bargained with its employees to cover a portion of employee's pension contributions in exchange for receiving no pay increase. In essence, a pay raise would result from the city covering a portion of the employee's pension contribution. So to now go back on that promise, to force city employees to pay the full employee contribution, would be to reverse those pay raises. Reversing pay raises means city employee's pay will be cut.
(Examiner)
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posted: 1/15/12                   0       8
#8 



1/9/2012 Awakening to Ron Paul’s Crony Capitalism
Ron Paul believes in the feudalism of the land barons and gold bankers of King George. Ron Paul believes land and money are capital. Land and money are not capital. They are the common wealth. To declare any free market currency to be legal tender is state intervention and a corruption of free markets. Title to land is state intervention and corruption of free markets. The Bible and the classical liberals understand this distinction. Ron Paul does not understand this distinction. Ron Paul wants government to allow the banks and land barons to steal the common wealth. Ron Paul does not distinguish between earned wealth and wealth stolen through economic rent and monetary interest. My article exposing Ron Paul as a globalist seeking the old world’s one world currency is getting a lot of traffic. Unfortunately, it seems a lot of people on forums discussing the article still have not awakened to the importance of the Endgame Ron Paul represents on the Grand Chessboard of the Red Symphony. The awakening to the crimes of the New World Order is being misdirected into the worship of one man, Ron Paul, and into a blind faith of a false economic paradigm of crony capitalism and corruption of free markets of the worst kind by government, the Austrian School of Economics, funded by the same people, the Rockefeller Foundation, who take an active part in the funding and control of the New World Order. What is really dangerous is that it is sold as the opposition to the New World Order and as the opposition to crony capitalism and corruption of free markets by the government when it was funded by the New World Order and when it is crony capitalism and corruption of free markets by the government.
(Liberty Revival)
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posted: 2/20/12                   0       6
#9 



11/27/2011 Secret Fed Loans Gave Banks $13 Billion
Banks worldwide earned an estimated $13 billion by taking advantage of below-market rates on emergency U.S. Federal Reserve loans from August 2007 through April 2010. Roll over the bars below to explore details for each. To compare results with banks' net income or losses for the same timeframes, click the corresponding button. Worldwide total is the sum for 190 firms with available data; those banks lost a combined $21.6 billion. The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing. The Fed didn’t tell anyone which banks were in trouble so deep they required a combined $1.2 trillion on Dec. 5, 2008, their single neediest day. Bankers didn’t mention that they took tens of billions of dollars in emergency loans at the same time they were assuring investors their firms were healthy. And no one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates, Bloomberg Markets magazine reports in its January issue.
(Bloomberg)
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posted: 11/29/11                   0       6
#10 
keywords: American Bankers Association, Ancel Martinez, Andrea Priest, Anil Kashyap, Anthony Coley, Bailouts, Bank Of America, Barack Obama, Barney Frank, Basel, Bear Stearns, Ben Bernanke, Berkeley, Bloomberg Lp, Brad Miller, Byron Dorgan, California, Center For Economic And Policy Research, Center For Responsive Politics, Charlotte, Citigroup, Clearing House Association, Countrywide Financial, Dallas, David Jones, Dean Baker, Dodd-frank Wall Street Reform Act, Dow Jones, Federal Reserve, Financial Crisis, Financial Crisis Inquiry Commission, Financial Services Forum, Financial Stability Oversight Council, Gary Stern, George Mason University, George W Bush, Gerald Hanweck, Glass-steagall Act, Goldman Sachs, Government Transparency, Graham Fisher & CO, Henry Paulson, Howard Opinsky, Jamie Dimon, Jerry Dubrowski, John Dearie, Jon Diat, Joshua Rosner, Jpmorgan Chase, Judd Gregg, Kenneth Lewis, Lehman Brothers, Mark Lake, Merrill Lynch, Minneapolis, Morgan Stanley, Neil Barofsky, New York, New York City, New York University, Nobel Prize, North Carolina, Occupy Boston, Occupy California, Occupy Oakland, Occupy Seattle, Occupy Wall Street, Oliver Williamson, Phillip Swagel, Police, Realtytrac, Richard Fisher, Richard Shelby, Scott Alvarez, Sherrill Shaffer, Sherrod Brown, Switzerland, Tea Party, Ted Kaufman, Timothy Geithner, US Bureau Of Labor Statistics, US Congress, US Department Of The Treasury, US Freedom Of Information Act, US Supreme Court, United States, University Of California, University Of Chicago, University Of Maryland, University Of Wyoming, Vikram Pandit, Viral Acharya, Wachovia, Wall Street, Washington DC, Washington Mutual, Wells Fargo, William English Add New Keyword To Link



11/25/2011 The shocking truth about the crackdown on Occupy: The violent police assaults across the US are no coincidence. Occupy has touched the third rail of our political class's venality
US citizens of all political persuasions are still reeling from images of unparallelled police brutality in a coordinated crackdown against peaceful OWS protesters in cities across the nation this past week. An elderly woman was pepper-sprayed in the face; the scene of unresisting, supine students at UC Davis being pepper-sprayed by phalanxes of riot police went viral online; images proliferated of young women – targeted seemingly for their gender – screaming, dragged by the hair by police in riot gear; and the pictures of a young man, stunned and bleeding profusely from the head, emerged in the record of the middle-of-the-night clearing of Zuccotti Park. But just when Americans thought we had the picture – was this crazy police and mayoral overkill, on a municipal level, in many different cities? – the picture darkened. The National Union of Journalists issued a Freedom of Information Act request to investigate possible federal involvement with law enforcement practices that appeared to target journalists. The New York Times reported that "New York cops have arrested, punched, whacked, shoved to the ground and tossed a barrier at reporters and photographers" covering protests. Reporters were asked by NYPD to raise their hands to prove they had credentials: when many dutifully did so, they were taken, upon threat of arrest, away from the story they were covering, and penned far from the site in which the news was unfolding. Other reporters wearing press passes were arrested and roughed up by cops, after being – falsely – informed by police that "It is illegal to take pictures on the sidewalk."
(London Guardian)
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posted: 12/14/11                   0       4
#11 



11/21/2011 Occupy UC Davis Nov 21 Rally & General Assembly: In Response To John Pike Pepper Spray
Nov 21, noon, Day 5 of Occupy UC Davis. Highlighted speakers and moments from the huge rally and general assembly in response to pepper spraying of peaceful protesters by Lt. John Pike on Nov 18. A resolution was passed with 1,729 votes recorded to have a general strike on Nov 28 in hopes of blocking the UC regents meeting on campus that day.
(Wiki World Order)
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posted: 11/29/11      
            
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#12 



11/19/2011 UC Davis Chancellor Katehi walks to car amidst protesters
After an hours-long impasse, UC Davis Chancellor Linda Katehi leaves the Surge II building on the UC Davis campus, accompanied by her husband Spyros Tseregounis and campus minister Kristin Stoneking. Video by Anna Sturla, HUB reporter. For photos and continuing coverage, go to http://bluedevilhub.com/

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posted: 11/29/11      
            
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11/18/2011 Occupy UC Davis Pepper Spray Incident, Four Perspectives
I was stunned and appalled by the UC Davis Police spraying protestors, and struck by how many brave, curious people recorded the events. I took the four clearest videos and synchronized them. Citizen journalism FTW. Sources below.

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posted: 11/29/11      
            
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#14 



11/14/2011 New Book: Insider Trading Rampant in Congress: Members reap benefits of policy knowledge on Wall Street
In Congress, it’s easy to do the kind of stock trading that “would send the rest of us to prison,” writes Peter Schweizer in a new book on the Hill’s upside-down ethics. Members of Congress are, of course, equipped with insider knowledge about upcoming policy, and they’re able to play the market based on that knowledge, Schweizer asserts. In Throw Them All Out, the author probes the trading activities of a handful of congressional leaders of both parties, and finds evidence of questionable dealings.
(Newser)
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posted: 11/27/11                   0       6
#15 



11/14/2011 Top 1% Nabs $30B a Year in Federal 'Welfare': Sen. Coburn investigates massive handouts
They’re already in the top 1%, yet they’re getting government handouts worth more than NASA’s budget. American millionaires rake in $30 billion a year from the feds, Republican Sen. Tom Coburn finds in a new report. That’s three times the EPA’s yearly allotment, yet it’s going to people like Jon Bon Jovi, who got US cash to raise bees, and Scottie Pippen, who received hundreds of thousands in agriculture subsidies while he was a Chicago Bull. Even billionaires like Ted Turner are cashing in, Newsweek reports.
(Newser)
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posted: 11/27/11                   0       6
#16 



11/12/2011 The New Progressive Movement
(Opinion) OCCUPY WALL STREET and its allied movements around the country are more than a walk in the park. They are most likely the start of a new era in America. Historians have noted that American politics moves in long swings. We are at the end of the 30-year Reagan era, a period that has culminated in soaring income for the top 1 percent and crushing unemployment or income stagnation for much of the rest. The overarching challenge of the coming years is to restore prosperity and power for the 99 percent. Thirty years ago, a newly elected Ronald Reagan made a fateful judgment: “Government is not the solution to our problem. Government is the problem.” Taxes for the rich were slashed, as were outlays on public services and investments as a share of national income. Only the military and a few big transfer programs like Social Security, Medicare, Medicaid and veterans’ benefits were exempted from the squeeze. Reagan’s was a fateful misdiagnosis. He completely overlooked the real issue — the rise of global competition in the information age — and fought a bogeyman, the government. Decades on, America pays the price of that misdiagnosis, with a nation singularly unprepared to face the global economic, energy and environmental challenges of our time.
(New York Times)
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posted: 11/27/11                   0       6
#17 



11/10/2011 The Inequality Map
Foreign tourists are coming up to me on the streets and asking, “David, you have so many different kinds of inequality in your country. How can I tell which are socially acceptable and which are not?” Foreign tourists are coming up to me on the streets and asking, “David, you have so many different kinds of inequality in your country. How can I tell which are socially acceptable and which are not?” This is an excellent question. I will provide you with a guide to the American inequality map to help you avoid embarrassment. Academic inequality is socially acceptable. It is perfectly fine to demonstrate that you are in the academic top 1 percent by wearing a Princeton, Harvard or Stanford sweatshirt. Ancestor inequality is not socially acceptable. It is not permissible to go around bragging that your family came over on the Mayflower and that you are descended from generations of Throgmorton-Winthrops who bequeathed a legacy of good breeding and fine manners.
(New York Times)
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posted: 11/27/11                   0       5
#18 



11/9/2011 Occupy Oakland Deposits $20K at ... Wells Fargo: But don't worry, it's only for a little while!
So much for Bank Transfer Day and, you know, railing against Wall Street: Occupy Oakland took its $20,000 straight to Wells Fargo, the fourth-largest bank holding company in the US. The group’s general assembly agreed—just about unanimously—to temporarily put the large donation from Occupy Wall Street into the big bank Monday, the San Francisco Examiner reports. Not surprisingly, the 162-8 vote (16 abstained) led to outrage on Twitter.
(Newser)
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posted: 11/27/11                   0       5
#19 



10/31/2011 The Road Ahead for Occupy Wall Street
To the Editor: Bill Keller misses the point of the Occupy Wall Street movement. An amalgam of issues motivates the millions of people throughout the country who have identified with the effort. Their number includes students in debt for educations that do not lead to employment, homeowners whose property is underwater, individuals whose retirement savings are suddenly at risk, voters who see that those they elect tend to the needs of a constituency of which they are not a part, and people who see that the financial “experts” whose machinations brought down the economy are not held accountable. These are Americans who deserve better than to be piously mocked for their lack of leadership and a constrained agenda. The incestuous liaison between financial power and elected politicians is the issue. Those who are a part of that partnership should take note that if elections don’t count and demonstrations are ignored, the Occupy movement may include civil disobedience or worse.
(New York Times)
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posted: 11/27/11                   0       5
#20 



10/25/2011 DA won't prosecute Occupy Sacramento protesters
Occupy Sacramento protesters' push to continue their amorphous yet spirited around-the-clock campaign against economic inequalities got a powerful assist Monday from an unexpected source. District Attorney Jan Scully announced Monday afternoon that her office would not file state charges against protesters arrested for refusing to disperse from an unlawful assembly after being ordered to do so by law enforcement. Scully's position – that no unlawful assembly occurred – has her office ostensibly siding with the protesters and in direct conflict with the Sacramento Police Department. "They are still in violation and we will continue to make the arrests," said Laura Peck, a police spokeswoman, in response to questions about continued arrests under the state law.
(Sacramento Bee)
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posted: 10/28/11                   0       6
#21 



10/25/2011 Reckless Endangerment: Totally Corrupt America
Last March I reviewed Matt Taibbi’s important book Griftopia, an entertaining account of the through-going financial fraud that gave us the financial crisis. http://www.vdare.com/print/13156 Taibbi shows that the US “superpower” can match any third world backwater in the magnitude of greed and fraud that is endemic in business and government. I would not be surprised if Taibbi’s book motivated the more aware participants of Occupy Wall Street. Taibbi’s Griftopia was published last year. This year Henry Holt publishers have provided us with Gretchen Morgenson and Joshur Rosner’s Reckless Endangerment. Morgenson and Rosner tell the story again, but with less drama and provocation. Possibly, it might be more acceptable to those gullible Americans who wrap themselves in the flag and refuse to believe that their country could ever knowingly do anything that is wrong. I am not suggesting that Morgenson and Rosner pull their punches. To the contrary, the authors deliver enough knockouts to be contenders with Taibbi as world champions in exposing the reckless fraud that the US financial sector and its regulators now epitomize.
(Paul Craig Roberts)
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posted: 10/28/11                   0       6
#22 



10/24/2011 New York cops defy order to arrest hundreds of 'Occupy Albany' protesters
Occupy Albany protesters in New York’s capital city received an unexpected ally over the week: The state and local authorities. According to the Albany Times Union, New York state troopers and Albany police did not adhere to a curfew crackdown on protesters urged by Gov. Andrew Cuomo (D) and Albany mayor Gerald Jennings. Mass arrests seemed to be in the cards once Jennings directed officers to enforce the curfew on roughly 700 protesters occupying the city owned park. But as state police joined the local cops, protesters moved past the property line dividing city and state land.
(The Raw Story)
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posted: 10/28/11                   0       5
#23 
keywords: Albany, Albany Times Union, Andrew Cuomo, Financial Crisis, Gerald Jennings, Martial Law, New York, New York City, Occupy Albany, Occupy Wall Street, United States, Wall Street Add New Keyword To Link



10/24/2011 Occupy Sacramento sues the city over First Amendment violations
Occupy Sacramento is filing a lawsuit against the city of Sacramento for violating occupier's First Amendment rights. At a news conference this morning at 10:30 am, lawyers helping Occupy Sacramento announced that they were filing a lawsuit alleging that the city of Sacramento's anti-camping ordinance is violating the First Amendment right to peacefully assemble. Today is day 19 of the occupation that began on October 6th, and so far there have been 75 arrests made simply for remaining in the public park after 11 pm. There have been no arrests for violence, and police have even stated in city council sessions that the occupiers are overwhelmingly peaceful. Thus, it stands to reason that if the occupiers are assembling peacefully, then they have constitutional protections over that assembly. No other law should infringe on this right to assemble.
(Examiner.com)
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posted: 10/28/11                   0       5
#24 



10/21/2011 Occupy-apalooza Strikes a Chord
Thursday night I spoke to a young woman in Brooklyn who was having dinner and planning the next day. Between a morning boot camp workout at the local Y.M.C.A. and an evening meeting with friends for drinks, she was planning her first trek to Zuccotti Park to take part in the Occupy Wall Street protests. “Why?” I asked. “What specifically are you protesting?” I was curious. I hoped that she’d respond with some variation of the umbrella arguments about income inequality, the evils of corporate greed and corruption or removing corporate money from politics. She didn’t. “I don’t know. It’s just cool,” she said. She went on to tell me about how she felt that this was a movement of people with whom she felt some kinship, banding together and making history, and that she wanted to be a part of that in the same way that people from previous generations were part of the civil rights, women’s liberation and antiwar movements.
(New York Times)
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posted: 10/28/11                   0       4
#25 



10/17/2011 Why Occupy Wall Street Is Bigger Than Left vs. Right
(Matt Taibbi) I was surprised, amused and annoyed all at once when I found out yesterday that some moron-provocateur linked to notorious right-wing cybergoon Andrew Breitbart had infiltrated a series of private e-mail lists – including one that I have been participating in – and was using them to run an exposé on the supposed behind-the-scenes marionetting of the OWS movement by the liberal media. According to various web reports, what happened was that a private "cyber-security researcher" named Thomas Ryan somehow accessed a series of email threads between various individuals and dumped them all on BigGovernment.com, Breitbart's site. Gawker is also reporting that Ryan forwarded some of these emails to the FBI and the NYPD. I have no idea whether those email exchanges are the same as the ones I was involved with. But what is clear is that some private email exchanges between myself and a number of other people – mostly financial journalists and activists who know each other from having covered the crisis from the same angle in the last three years, people like Barry Ritholz, Dylan Ratigan, former regulator William Black, Glenn Greenwald and myself – ended up being made public.
(Rolling Stone)
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posted: 11/8/11                   0       4
#26 



10/11/2011 How politicians can kick the Wall Street habit
So, protesters are occupying Wall Street and downtown banking districts in scores of other cities. Many Democratic politicos have endorsed the movement’s spirit and goals. Now what? The pols are in no position to enact any further left-populist reforms — laws that create, say, a financial transaction tax, or that make it easier for employees to form unions — so long as Republicans control the House and have veto power in the Senate. For that matter, the Democrats couldn’t even get those bills enacted when they controlled both houses of Congress. So what, besides affirming their solidarity with the demonstrators, can they do?
(Washington Post)
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posted: 11/27/11                   0       2
#27 



9/1/2011 Testing Occupy Wall Street September 1st
A video story of a peaceful protest test on Wall Street last Thursday Sept.1st, showing that we are living in a police state. Each of us who were detained will return there again, brining friends over. We cary our beliefs and no fears. More and more people will be coming beginning September 17th. Meaningless nonsense charges against us will be dismissed in a court, as it was with one of us, the person who was kept in jail that night and brought to the court the next day. We believe in our constitutional rights for freedom of speech and peaceful demonstrations.
(Occupy Wall Street)
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posted: 10/28/11      
            
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#28 



8/17/2011 Is the SEC Covering Up Wall Street Crimes?
Matt Taibbi: A whistle blower says the agency has illegally destroyed thousands of documents, letting financial crooks off the hook.

Imagine a world in which a man who is repeatedly investigated for a string of serious crimes, but never prosecuted, has his slate wiped clean every time the cops fail to make a case. No more Lifetime channel specials where the murderer is unveiled after police stumble upon past intrigues in some old file – "Hey, chief, didja know this guy had two wives die falling down the stairs?" No more burglary sprees cracked when some sharp cop sees the same name pop up in one too many witness statements. This is a different world, one far friendlier to lawbreakers, where even the suspicion of wrongdoing gets wiped from the record. That, it now appears, is exactly how the Securities and Exchange Commission has been treating the Wall Street criminals who cratered the global economy a few years back. For the past two decades, according to a whistle-blower at the SEC who recently came forward to Congress, the agency has been systematically destroying records of its preliminary investigations once they are closed. By whitewashing the files of some of the nation's worst financial criminals, the SEC has kept an entire generation of federal investigators in the dark about past inquiries into insider trading, fraud and market manipulation against companies like Goldman Sachs, Deutsche Bank and AIG. With a few strokes of the keyboard, the evidence gathered during thousands of investigations – "18,000 ... including Madoff," as one high-ranking SEC official put it during a panicked meeting about the destruction – has apparently disappeared forever into the wormhole of history. Under a deal the SEC worked out with the National Archives and Records Administration, all of the agency's records – "including case files relating to preliminary investigations" – are supposed to be maintained for at least 25 years. But the SEC, using history-altering practices that for once actually deserve the overused and usually hysterical term "Orwellian," devised an elaborate and possibly illegal system under which staffers were directed to dispose of the documents from any preliminary inquiry that did not receive approval from senior staff to become a full-blown, formal investigation. Amazingly, the wholesale destruction of the cases – known as MUIs, or "Matters Under Inquiry" – was not something done on the sly, in secret. The enforcement division of the SEC even spelled out the procedure in writing, on the commission's internal website. "After you have closed a MUI that has not become an investigation," the site advised staffers, "you should dispose of any documents obtained in connection with the MUI."
(Rolling Stone)
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posted: 9/14/11                   0       5
#29 
keywords: Adam Storch, American International Group, Andrew Tong, Bank Of America, Bankers Trust, Barry Walters, Bear Stearns, Bernie Madoff, Bill Laufer, Charles Grassley, Christopher Cox, Citigroup, Daniel Indiviglio, Darcy Flynn, Davis Polk, Der Spiegel, Deutsche Bank, Financial Crisis, Gary Aguirre, Gary Lynch, George Orwell, George W Bush, Germany, Goldman Sachs, Harry Markopolos, JP Morgan Chase, Jacqueline Millan, Joel Sauer, John Mack, John Nester, Julie Preuitt, Ken Hall, Laurence Brewer, Lehman Brothers, Linda Chatman Thomsen, Lynn Turner, Mary Schapiro, Morgan Stanley, National Archives And Records Administration, Paul Wester, Pequot Capital, Ping Jiang, Police, R Allen Stanford, Richard Walker, Robert Khuzami, Rolf Breuer, Sac Capital, Seaboard, Securities And Exchange Commission, Stephen Cutler, Texas, The Atlantic, US Congress, University Of Pennsylvania, Untied States, Wall Street, Whistleblowers, William Mclucas, Wilmerhale Add New Keyword To Link



8/17/2011 Rise of the Fourth Reich, how Germany is using the financial crisis to conquer Europe
Yesterday’s crisis meeting between Angela Merkel and Nicolas Sarkozy was arranged before the participants knew of the disastrous growth figures in the Eurozone that emerged in the morning. The background to the meeting was last week’s tumult in the world financial markets. Shares had gone into freefall after the downgrading of America’s credit rating. Worse than that, however, were the tremors rattling some of Europe’s most important banks, notably in France, caused by further evidence of the utter failure of even the more developed European economies to live anything like within their means.
(UK Daily Mail)
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posted: 9/14/11                   0       5
#30 



7/31/2011 Quick guide on group dynamics in people's assemblies
This text has been prepared by the Commission for Group Dynamics in Assemblies of the Puerta del Sol Protest Camp (Madrid). It is based on different texts and summaries which reached consensus in the internal Assemblies of this Commission (and which will be made available on the official webs of the 15th May Movement) and from the experiences gained in the General Assemblies held in this Protest Camp up until 31st May 2011. pdf-it, pdf-fr, pdf-es, pdf-en The purpose of this Quick Guide is to facilitate and encourage the development of the different Popular Assemblies which have been created since the beginning of the 15th May Movement. This Quick Guide will be periodically revised and updated. On no account is it to be considered a closed model which cannot be adapted through consensus by any given Assembly. From the Commission for Group Dynamics in Assemblies of the Puerta del Sol Protest Camp we invite our friends and comrades to attend and take part in the meetings, work plans and internal Assemblies of this Commission, which are open to anyone who wants to come to them and actively participate in maintaining, perfecting and developing them.
(Take The Square)
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posted: 10/28/11                   0       1
#31 



7/30/2011 Why Voters Tune Out Democrats
BARACK OBAMA can’t catch a break from the American public on the economy, even though he prevented a depression and saved global capitalism. Perhaps the president finds solace in knowing he’s not alone. During this period of economic crisis and uncertainty, voters are generally turning to conservative and right-wing political parties, most notably in Europe and in Canada. It’s perplexing. When unemployment is high, and the rich are getting richer, you would think that voters of average means would flock to progressives, who are supposed to have their interests in mind — and who historically have delivered for them. During the last half-century or so, when a Democratic president has led the country, people have tended to experience lower unemployment, less inequality and rising income compared with periods of Republican governance. There is a reason, however, that many voters in the developed world are turning away from Democrats, Socialists, liberals and progressives. My vantage point on voter behavior comes through my company, Greenberg Quinlan Rosner, and its work for center-left parties globally, starting with Bill Clinton’s presidential campaign in 1992. For the last decade, I have worked in partnership with James Carville conducting monthly polls digging into America’s mood and studying how progressives can develop successful electoral strategies. (I am also married to a Democratic congresswoman from Connecticut, Rosa L. DeLauro.)
(New York Times)
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posted: 9/14/11                   0       4
#32 



7/21/2011 The Fed Audit
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else." Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.
(Bernie Sanders)
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posted: 10/28/11                   0       2
#33 



7/1/2011 FEDERAL RESERVE SYSTEM: Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance (GAO Report to Congressional Addressees)
Why GAO Did This Study

The Dodd-Frank Wall Street Reform and Consumer Protection Act directed GAO to conduct a one-time audit of the emergency loan programs and other assistance authorized by the Board of Governors of the Federal Reserve System (Federal Reserve Board) during the recent financial crisis. This report examines the emergency actions taken by the Federal Reserve Board from December 1, 2007, through July 21, 2010. For each of these actions, where relevant, GAO’s objectives included a review of (1) the basis and purpose for its authorization, as well as accounting and financial reporting internal controls; (2) the use, selection, and payment of vendors; (3) management of conflicts of interest; (4) policies in place to secure loan repayment; and (5) the treatment of program participants. To meet these objectives, GAO reviewed program documentation, analyzed program data, and interviewed officials from the Federal Reserve Board and Reserve Banks (Federal Reserve System).

What GAO Recommends

GAO makes seven recommendations to the Federal Reserve Board to strengthen policies for managing noncompetitive vendor selections, conflicts of interest, risks related to emergency lending, and documentation of emergency program decisions. The Federal Reserve Board agreed that GAO’s recommendations would benefit its response to future crises and agreed to strongly consider how best to respond to them.

What GAO Found

On numerous occasions in 2008 and 2009, the Federal Reserve Board invoked emergency authority under the Federal Reserve Act of 1913 to authorize new broad-based programs and financial assistance to individual institutions to stabilize financial markets. Loans outstanding for the emergency programs peaked at more than $1 trillion in late 2008. The Federal Reserve Board directed the Federal Reserve Bank of New York (FRBNY) to implement most of these emergency actions. In a few cases, the Federal Reserve Board authorized a Reserve Bank to lend to a limited liability corporation (LLC) to finance the purchase of assets from a single institution. In 2009 and 2010, FRBNY also executed large-scale purchases of agency mortgage-backed securities to support the housing market. The table below provides an overview of all emergency actions covered by this report. The Reserve Banks’ and LLCs’ financial statements, which include the emergency programs’ accounts and activities, and their related financial reporting internal controls, are audited annually by an independent auditing firm. These independent financial statement audits, as well as other audits and reviews conducted by the Federal Reserve Board, its Inspector General, and the Reserve Banks’ internal audit function, did not report any significant accounting or financial reporting internal control issues concerning the emergency programs. The Reserve Banks, primarily FRBNY, awarded 103 contracts worth $659.4 million from 2008 through 2010 to help carry out their emergency activities. A few contracts accounted for most of the spending on vendor services. For a significant portion of the fees, program recipients reimbursed the Reserve Banks or the fees were paid from program income. The Reserve Banks relied more extensively on vendors for programs that assisted a single institution than for broad-based programs. Most of the contracts, including 8 of the 10 highest-value contracts, were awarded noncompetitively, primarily due to exigent circumstances. These contract awards were consistent with FRBNY’s acquisition policies, but the policies could be improved by providing additional guidance on the use of competition exceptions, such as seeking as much competition as practicable and limiting the duration of noncompetitive contracts to the exigency period. To better ensure that Reserve Banks do not miss opportunities to obtain competition and receive the most favorable terms for services acquired, GAO recommends that they revise their acquisition policies to provide such guidance. FRBNY took steps to manage conflicts of interest for its employees, directors, and program vendors, but opportunities exist to strengthen its conflict policies. In particular, FRBNY expanded its guidance and monitoring for employee conflicts, but new roles assumed by FRBNY and its employees during the crisis gave rise to potential conflicts that were not specifically addressed in the Code of Conduct or other FRBNY policies. For example, FRBNY’s existing restrictions on its employees’ financial interests did not specifically prohibit investments in certain nonbank institutions that received emergency assistance. To manage potential conflicts related to employees’ holdings of such investments, FRBNY relied on provisions in its code that incorporate requirements of a federal criminal conflict of interest statute and its regulations. Given the magnitude of the assistance
(US Government Accountability Office)
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posted: 10/28/11                   0       2
#34 



7/1/2011 Overworked America: 12 Charts That Will Make Your Blood Boil
Want more rage? We've got eleven charts that show how the superrich spoil it for the rest of us. In the past 20 years, the US economy has grown nearly 60 percent. This huge increase in productivity is partly due to automation, the internet, and other improvements in efficiency. But it's also the result of Americans working harder—often without a big boost to their bottom lines. Oh, and meanwhile, corporate profits are up 20 percent. (Also read our essay on the great speedup and harrowing first-person tales of overwork.) You have nothing to lose but your gains Productivity has surged, but income and wages have stagnated for most Americans. If the median household income had kept pace with the economy since 1970, it would now be nearly $92,000, not $50,000.
(Mother Jones)
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posted: 9/20/11                   0       2
#35 
keywords: Bureau Of The Census, Economic Policy Institute, Financial Crisis, Mcgill Institute For Health And Social Policy, US Congress, United States Add New Keyword To Link



4/15/2011 CIA officer: US depended on tyrannies
The United State’s intervention in Libya has been called a humanitarian effort by officials, but the true intentions of the American government can be not-so-easily explained by examining the country’s actions overseas. “The best thing for the United States is to back away and let the cards fall where they may,” says Michael Scheuer. "If Israel disappears, if Palestine disappears…who cares?" A former intelligence officer with the CIA who, like many, insists that the US’ intervention in Libya isn’t doing any good for anyone. Despite America’s insistence that their involvement in the Middle East is for the better of the citizen’s of Libya, the United States is only accentuating its reputation as the bad guy, says Scheuer. “We’re just trying to fool the Muslim world…but the Muslim world is much smarter than that,” says Scheuer, who has written extensively on Islam and America’s relation with Muslim countries. Scheuer says that the United States is known for attacking countries that have oil and that their involvement in Libya is being enacted to serve America, not the Middle East. This, the author says, only confirms what Osama Bin Laden has always inferred about America.
(Russia Today)
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posted: 4/19/11                   0       3
#36 



4/11/2011 Obama's Off Base
Maddow: A Democratic President kicks his base in the teeth on something as fundamental as civil liberties—he puts the nail in the coffin of a civil liberties promise he made on his first full day in office—and he does it on the first day of his re-election effort. And Beltway reaction to that is... huh, good move. That's the difference between Republican politics and Democratic politics. The Republicans may not love their base, but they fear them and play to them. The Democratic Party institutional structures of D.C., and the Beltway press in particular, not only hate the Democratic base—they think it's good politics for Democratic politicians to kick that base publicly whenever possible. Only the base itself will ever change that. Greenwald: One thing is for certain: right now, the Democratic Party is absolutely correct in its assessment that kicking its base is good politics. Why is that? Because they know that they have inculcated their base with sufficient levels of fear and hatred of the GOP, so that no matter how often the Party kicks its base, no matter how often Party leaders break their promises and betray their ostensible values, the base will loyally and dutifully support the Party and its leaders (at least in presidential elections; there is a good case that the Democrats got crushed in 2010 in large part because their base was so unenthusiastic). In light of that fact, ask yourself this: if you were a Democratic Party official, wouldn't you also ignore—and, when desirable, step on—the people who you know will support you no matter what you do to them?
(The Stranger)
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posted: 4/12/11                   0       1
#37 



3/31/2011 Why is the Federal Reserve Propping Up the Bank of Libya?
Vermont Senator Bernie Sanders has for months been leading the charge to expose the sweetheart deals the Federal Reserve has worked out for multinational banks and corporations at the same time that working Americans, small businesses, local governments and schools boards struggle to stay afloat financially. Sanders has tried to make the point that it is simply absurd for the Fed to bail out foreign firms and bad banks and to provide them with low-interest loans at the same time that they are reaping massive profits – and at the same time that federal, state and local governments are supposedly broke.
(The Nation)
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posted: 10/28/11                   0       1
#38 



3/10/2011 Red flag: Biggest bond fund dumps U.S. Treasuries
Last fall Jason Thomas, writing in National Affairs, explained the danger of our increasing debt: The government borrows in a currency that it prints, and it is difficult to conceive of a situation in which it would be more advantageous for the United States to renounce obligations than to print whatever amount of dollars would be necessary to meet them. The real problem is that bond-market investors are not oblivious to this flexibility. When it appears likely that a country will print money to inflate away unsustainable debt burdens, interest rates rise to incorporate an inflation risk premium -- thus increasing the burden on the government and on private borrowers. The danger, then, is that excessive borrowing will bring investors' hunger for Treasury securities to an end, causing a spike in interest rates that could crush the American economy and send it into a debt spiral we would find very difficult to escape. Treasury securities have continued to sell, as Thomas explained, because of "the weakness of other countries' fiscal positions, and the power of inertia and familiarity." But that can change. Thomas warned: The Treasury market's status as a safe haven is not an immutable feature of economic life: It is a function of institutional credibility that took generations to build, but that would take just a fraction of that time to destroy. Were Treasury securities to lose their status as the global reserve asset of choice to gold, other commodities, or a different currency, the consequences for the American economy would be disastrous. Unlikely as such a scenario might seem at the moment, today's fiscal policies unquestionably increase the probability of its coming to pass.
(Washington Post)
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posted: 3/14/11                   0       7
#39 
keywords: Bill Gross, Bloomberg Lp, Erskine Bowles, Federal Reserve, Financial Crisis, Gold, Jason Thomas, National Affairs, Pacific Investment Management, Pimco, Rob Portman, Stimulus Package, US Department Of The Treasury, US Small Business Administration, United States Add New Keyword To Link



3/2/2011 Why the Dollar's Reign Is Near an End
For decades the dollar has served as the world's main reserve currency, but, argues Barry Eichengreen, it will soon have to share that role. Here's why--and what it will mean for international markets and companies.

The single most astonishing fact about foreign exchange is not the high volume of transactions, as incredible as that growth has been. Nor is it the volatility of currency rates, as wild as the markets are these days. Instead, it's the extent to which the market remains dollar-centric. Consider this: When a South Korean wine wholesaler wants to import Chilean cabernet, the Korean importer buys U.S. dollars, not pesos, with which to pay the Chilean exporter. Indeed, the dollar is virtually the exclusive vehicle for foreign-exchange transactions between Chile and Korea, despite the fact that less than 20% of the merchandise trade of both countries is with the U.S. Chile and Korea are hardly an anomaly: Fully 85% of foreign-exchange transactions world-wide are trades of other currencies for dollars. What's more, what is true of foreign-exchange transactions is true of other international business. The Organization of Petroleum Exporting Countries sets the price of oil in dollars. The dollar is the currency of denomination of half of all international debt securities. More than 60% of the foreign reserves of central banks and governments are in dollars.
(Wall Street Journal)
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posted: 3/4/11                   0       9
#40 



3/1/2011 It's the Inequality, Stupid: Eleven charts that explain everything that's wrong with America.
How Rich Are the Superrich? A huge share of the nation's economic growth over the past 30 years has gone to the top one-hundredth of one percent, who now make an average of $27 million per household. The average income for the bottom 90 percent of us? $31,244.
(Mother Jones)
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posted: 2/28/11                   0       10
#41 



2/20/2011 "CIA spy" Davis was giving nuclear bomb material to Al-Qaeda, says report
Double murder-accused US official Raymond Davis has been found in possession of top-secret CIA documents, which point to him or the feared American Task Force 373 (TF373) operating in the region, providing Al-Qaeda terrorists with "nuclear fissile material" and "biological agents," according to a report. Russia's Foreign Intelligence Service (SVR) is warning that the situation on the sub-continent has turned "grave" as it appears that open warfare is about to break out between Pakistan and the United States, The European Union Times reports. The SVR warned in its report that the apprehension of 36-year-old Davis, who shot dead two Pakistani men in Lahore last month, had fuelled this crisis.
(Yahoo!)
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posted: 2/28/11                   0       8
#42 



2/19/2011 A Monopoly on Cheating
I HATE cheats. They cut the line and snatch the bargain. They sweet-talk the customer service rep into bending the rules. They count cards and win the raffle with some sneaky ticket placement. They are the 100th caller every time. They trick you on mileage or square footage and bribe their way up the organ transplant list. They pump and dump their stocks, their families, their friends. They get ahead and they win. We lose. Then they explain ever so condescendingly that it’s not a zero-sum game. I never cheated much as a child, not on tests or papers, not at Go Fish or poker or even board games like Sorry or Risk. It’s been the same since. I pay my taxes, under-claim expenses, give mistaken change back to the cashier. I don’t lie on applications. I’d probably fill out my own death warrant with civic-minded meticulousness. I’m not bragging. I find this part of me repellent. I’m not noble or good. I’m adult enough to know that the victories of cheats don’t feel hollow to them. They live happy lives. They don’t think they are cheats. They consider themselves warriors of life.
(New York Times)
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posted: 2/28/11                   0       3
#43 
keywords: Barack Obama, Egypt, Financial Crisis, Hasbro, Jane Ritson-parsons, Middle East, United States Add New Keyword To Link



2/16/2011 Why Isn't Wall Street in Jail? Financial crooks brought down the world's economy -- but the feds are doing more to protect them than to prosecute them
By Matt Taibbi. Over drinks at a bar on a dreary, snowy night in Washington this past month, a former Senate investigator laughed as he polished off his beer. "Everything's fucked up, and nobody goes to jail," he said. "That's your whole story right there. Hell, you don't even have to write the rest of it. Just write that." I put down my notebook. "Just that?" "That's right," he said, signaling to the waitress for the check. "Everything's fucked up, and nobody goes to jail. You can end the piece right there." Nobody goes to jail. This is the mantra of the financial-crisis era, one that saw virtually every major bank and financial company on Wall Street embroiled in obscene criminal scandals that impoverished millions and collectively destroyed hundreds of billions, in fact, trillions of dollars of the world's wealth — and nobody went to jail. Nobody, that is, except Bernie Madoff, a flamboyant and pathological celebrity con artist, whose victims happened to be other rich and famous people. This article appears in the March 3, 2011 issue of Rolling Stone. The issue is available now on newsstands and will appear in the online archive February 18. The rest of them, all of them, got off. Not a single executive who ran the companies that cooked up and cashed in on the phony financial boom — an industrywide scam that involved the mass sale of mismarked, fraudulent mortgage-backed securities — has ever been convicted. Their names by now are familiar to even the most casual Middle American news consumer: companies like AIG, Goldman Sachs, Lehman Brothers, JP Morgan Chase, Bank of America and Morgan Stanley. Most of these firms were directly involved in elaborate fraud and theft. Lehman Brothers hid billions in loans from its investors. Bank of America lied about billions in bonuses. Goldman Sachs failed to tell clients how it put together the born-to-lose toxic mortgage deals it was selling. What's more, many of these companies had corporate chieftains whose actions cost investors billions — from AIG derivatives chief Joe Cassano, who assured investors they would not lose even "one dollar" just months before his unit imploded, to the $263 million in compensation that former Lehman chief Dick "The Gorilla" Fuld conveniently failed to disclose. Yet not one of them has faced time behind bars.

"You put Lloyd Blankfein in pound-me-in-the-ass prison for one six-month term, and all this bullshit would stop, all over Wall Street," says a former congressional aide. "That's all it would take. Just once."
(Rolling Stone)
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posted: 3/12/11                   0       4
#44 
keywords: Al Dunlap, American International Group, Art Samberg, Arthur Tildesley Jr, Bailouts, Bank Of America, Barack Obama, Bear Stearns, Bernie Madoff, Boston, Charles Grassley, Charles Schumer, Citigroup, Columbia University, Commodity Futures Trading Commission, Credit Default Swaps, Credit Suisse, Davis Polk & Wardwell, Debevoise & Plimpton, Derek Jeter, Derivatives, Deutsche Bank, Dick Fuld, Dick Walker, Eliot Spitzer, Enron, Eric Dinallo, Fabrice Tourre, Fannie Mae, Federal Deposit Insurance Corporation, Federal Reserve, Financial Crisis, Financial Crisis Inquiry Commission, Freddie Mac, Gary Aguirre, Gary Crittenden, Gary Lynch, General Electric, George W Bush, Germany, Goldman Sachs, Government Transparency, Heller Financial, Henry Waxman, Hillary Clinton, Hilton Hotels, Immigration, JP Morgan Chase, Jed Rakoff, Joe Cassano, John Mack, Joseph St Denis, Lanny Breuer, Lehman Brothers, Linda Thomsen, Lloyd Blankfein, Lynn Turner, Mary Jo White, Merrill Lynch, Mexico, Morgan Stanley, New York City, New York Stock Exchange, Office Of The Comptroller Of The Currency, Ohio, Oliver Budde, Paul Berger, Philadelphia, Police, Portfolio Magazine, Preet Bharara, Residential Mortgage-backed Securities, Restricted Stock Units, Rite Aid, Robert Khuzami, Robert Morgenthau, Roger Clemens, Rudy Giuliani, Securities And Exchange Commission, Simpson Thacher & Bartlett, Sunbeam, Switzerland, Terrorists, US Congress, US Department Of Justice, United States, Wall Street, War On Drugs, Worldcom Add New Keyword To Link



2/14/2011 My credit card had a 79.9% APR
Toni Riss had a credit card with a 79.9% interest rate. The 58-year-old woman from Texas thought she struck gold when she found the First Premier card, which is aimed specifically at consumers with poor credit. "I had an accident on a motorcycle, went through bankruptcy to pay for medical expenses and my credit went to hell in a hand basket, so I was looking for credit cards for people with bad credit" Riss said. They granted her a card with a $300 limit -- typical for new customers -- and a starting rate of 29.9%, which Riss said she considered decent given her credit score. But about six months after opening the card -- at the end of 2009 -- she received an unwelcome surprise in the mail. "I about had a heart attack when I got a disclosure notice saying that my starting rate of 29.9% was going up to 79.9%," said Riss. "It was ludicrous. Talk about a highway robbery." At that same time, First Premier Bank launched a new credit card with the sky-high 79.9% rate. The card proved popular with consumers, said First Premier Bankcard CEO Miles Beacom, but the performance was bad: "A lot of the people ran up the card, defaulted and went directly to charge off."
(CNN)
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posted: 4/12/11                   0       0
#45 
keywords: Credit Cards, Financial Crisis, First Premier Bank, Health Care, Miles Beacom, Motorcycles, Texas, The Card Act, Toni Riss, United States Add New Keyword To Link



2/2/2011 All-Time Record: Wall Street Compensation Hits $135 Billion
Wall Street was on the ropes just 25 months ago. Citigroup, Merrill Lynch, Lehman Bros., Bank of America, Wachovia, maybe Morgan Stanley; Goldman Sachs and JP Morgan Chase were wounded. GE could not role over its commercial paper. European banks required cash infusions from our central bank. Just in the wake of a report highlighting Wall Street’s narrow, selfish imbecilities, we are treated to the stunning realization that the captains of the sinking liner are today enjoying the all-time record payoff for surviving with massive transfusions. The payout of $135 billion to employees of Wall Street firms in 2010 is equivalent to the total market value of both Bank of America and Citigroup. Imagine– in two years.
(Forbes)
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posted: 8/1/11                   0       1
#46 



2/1/2011 Iceland Shows Ireland Did 'Wrong Things' Saving Banks
On his second day as head of Iceland’s third-largest bank, Arni Tomasson faced a crisis: The firm he had been asked by regulators to run was out of cash. It was Oct. 8, 2008, at the height of the global financial meltdown, and Iceland's bank assets in the U.K. had been frozen, Bloomberg Markets magazine reports in its March issue. Customers flocked to branches of Tomasson's Glitnir Banki hf to withdraw money, even though the government had guaranteed their deposits. By the end of the day, the vaults were empty, says Tomasson, recalling the drama two years later. The only way Glitnir and other lenders could avoid a panic the next morning was to get more cash, which they were having trouble doing. A container of crisp kronur sat on the tarmac at Reykjavik's airport awaiting payment, Tomasson says. The British company that printed the bills, De La Rue Plc, was demanding sterling, and the central bank couldn't access its U.K. account. "Everybody was panicked -- depositors, creditors, banks around the world," Tomasson says. "The effort by all of us at the time was to make sure life could go on as normal."
(Bloomberg)
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posted: 2/19/11                   0       4
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keywords: Abbas Qasim, Adriaan Van Der Knaap, Arni Pall Arnason, Arni Tomasson, Atlantic Ocean, Birna Einarsdottir, Burlington Loan Management, Columbia University, David Oddsson, De LA Rue Plc, Dekabank Deutsche Girozentrale, Denmark, European Union, Exista, Federal Reserve, Financial Crisis, Geir H Haarde, Germany, Glitnir Banki, Gunnar Andersen, Heidar Asberg Atlason, Hoskuldur Olafsson, Iceland, Icelandic Financial Supervisory Authority, Icelandic Parliament, Internet, Ireland, Islandsbanki, Johanna Sigurdardottir, Joseph Stiglitz, Kaupthing, Krona, Logos Legal Services, London, Magnus Arni Skulason, Moody's Investors Service, Morgunbladid, Netherlands, New York, Norway, R20 Ltd, Reykjavik, Robert Tchenguiz, Royal Bank Of Scotland, Scotland Group Plc, Social Democratic Alliance, Stefan Stefansson, Sweden, Ubs, United Kingdom, United States Add New Keyword To Link



1/21/2011 Peter Schiff On FXBIZ: The Great Currency Debate
Peter Schiff talks to Judge Napolitano about the prospect of a currency war with China.
(FOX)
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1/19/2011 The Fourth American Revolution
The next Fourth Turning is due to begin shortly after the new millennium, midway through the Oh-Oh decade. Around the year 2005, a sudden spark will catalyze a Crisis mood. Remnants of the old social order will disintegrate. Political and economic trust will implode. Real hardship will beset the land, with severe distress that could involve questions of class, race, nation and empire. The very survival of the nation will feel at stake. Sometime before the year 2025, America will pass through a great gate in history, commensurate with the American Revolution, Civil War, and twin emergencies of the Great Depression and World War II. -- The Fourth Turning -- Strauss & Howe --1997
(The Burning Platform)
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posted: 2/22/11                   0       4
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keywords: Abraham Lincoln, American Revolution, Appomattox, Barack Obama, Battle Of Gettysburg, Ben Bernanke, Benjamin Franklin, Boston Tea Party, Carl Degler, Charles Beard, China, Concord NH, Continental Congress, Cybersecurity, Daniel Webster, David M Walker, Declaration Of Independence, Emancipation Proclamation, Federal Reserve, Financial Crisis, Fort Sumter, Franklin D Roosevelt, George Washington, Globalization, Great Depression, Harper's Ferry, Health Care, Henry Clay, Internal Revenue Service, John Brown, John C Calhoun, Mary Beard, Middle East, Military, Militia, NBC, Neil Howe, Nuclear Weapons, Pearl Harbor, Rick Santelli, Saeculum, Tea Party, Terrorists, Timothy Geithner, Tucson AZ, UK Parliament, US Civil War, US Congress, United States, Wall Street, Washington DC, Weapons Of Mass Destruction, William Strauss, World War II Add New Keyword To Link



1/18/2011 President Bill Clinton Rallies for Rahm Emanuel
Full footage of Rahm Emanuel's and President Clinton's speeches at President Clinton's rally in support of Rahm Emanuel's bid for mayor of Chicago.
(Rahm Emanuel )
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