Matt Taibbi gives an update on the predatory activities of Bank of America

Rolling Stone's Matt Taibbi is not shy when it comes to hitting back at Bank of America:

They're in deep trouble, but they won't die, because our current president, like the last one, apparently believes it's better to project a false image of financial soundness than to allow one of our oligarchic banks to collapse under the weight of its own corruption. Last year, the Federal Reserve allowed Bank of America to move a huge portfolio of dangerous bets into a side of the company that happens to be FDIC-insured, putting all of us on the hook for as much as $55 trillion in irresponsible gambles. Then, in February, the Justice Department's so-called foreclosure settlement, which will supposedly provide $26 billion in relief for ripped-off homeowners, actually rewarded the bank with a legal waiver that will allow it to escape untold billions in lawsuits. And this month the Fed will release the results of its annual stress test, in which the bank will once again be permitted to perpetuate its fiction of solvency by grossly overrating the mountains of toxic loans on its books. At this point, the rescue effort is so sweeping and elaborate that it goes far beyond simply gouging the tax dollars of millions of struggling families, many of whom have already been ripped off by the bank – it's making the government, and by extension all of us, full-blown accomplices to the fraud.

Continue ReadingMatt Taibbi gives an update on the predatory activities of Bank of America

The alleged wackiness of Dennis Kucinich

Rep. Dennis Kucinich recently lost his race to return as a Congressional representative of Ohio. The blame for his loss sits largely at the door of the cowardly news media, which would rather make a cartoon of Kucinich than give serious heed to his well-formulated arguments. At Salon.com, Glenn Greenwald also laments the way the establishment media has treated Dennis Kucinich. Greenwald argues that the media blithely painted him as wacky because of Kucinich's friendship with Shirley McLaine (who believes in reincarnation). The media loves to report that (according to McLaine) Kucinich once "claimed to have an encounter with a UFO." For these "sins," the establishment media advises that we are not to take any of Kucinich's political positions seriously. Greenwald dismantles this insanity in two stages. First, he compares the alleged beliefs of Kucinich with the purported beliefs of most politicians, which the news media gives a free ride:

[Are any of Kucinich's beliefs] any more strange than the litany of beliefs which the world’s major religions require? Is Barack Obama “wacky” because he claims to believe that Jesus turned water into wine, rose from the dead and will soon welcome him to heaven? Is Chuck Schumer bizarre because he seems to believe that there’s some big fatherly figure sitting in the sky who spewed fire and brimstone at those who broke the laws he sent down on some stones and now hovers over him judging his every move? Is Harry Reid a weirdo because he apparently venerates as divine the “visions” of a man who had dozens of wives, including some already married to other men? Neither the Prospect nor the Post would ever dare mock as “wacky” the belief in invisible judgmental father-figures in the sky or that rendition of life-after-death gospel because those belief systems have been deemed acceptable by establishment circles.
Step two of the analysis is to step back to see the political views of Kucinich that have been ridiculed by the mainstream media: [More . . . ]

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Before you protest the latest U.S. massacre of innocents in Afghanistan . . .

Here's merely the latest reported massacre caused by U.S. troops in Afghanistan:

An American soldier opened fire on villagers near his base in southern Afghanistan Sunday and killed 16 civilians, according to President Hamid Karzai, who called it an "assassination" and furiously demanded an explanation from Washington. Nine children and three women were among the dead.
Perhaps you're considering going to Washington D.C. to protest this abominable behavior, especially since it has been reported that this massacre was done in your name (in that you are an American) and since the American soldiers doing the shooting were drunk, and because your government has no reason for this ten-year occupation of Afghanistan. Better watch your step if you decide to protest anywhere near the White House, near a building or grounds where the President or other person protected by the Secret Service is or will be temporarily visiting; or near a building or grounds so restricted in conjunction with an event designated as a special event of national significance. You see, according to a newly passed federal law [H.R. 347], you could be thrown in federal prison for up to a year, even if you aren't carrying a weapon and even if no one is injured as a result of your protest. If someone is injured as a result of the protest, you could (even though your own intentions were peaceful and you didn't cause any injuries) be thrown in federal prison for up to ten years. This law was signed by President Obama on March 8, 2012.

Continue ReadingBefore you protest the latest U.S. massacre of innocents in Afghanistan . . .

Nude body airport scanners: Eight billion dollar fraud

Take a look at this short video by Jonathan Corbett. He makes a pretty good case that the nude body scanners at American airports constitute an $8 Billion fraud, in addition to exposing us to supposedly safe radiation and invasive searches. Most important, these scanners are technically flawed to such a degree that any terrorist can slip virtually anything into an airplane. Corbett points out that the Israelis refused to invest in these scanners, because they are "useless." This is a rather unsurprising accusation against the folks who never considered locking the cockpit doors prior to 9/11--boondoggle and ineffective. But at least a lot of Americans will see those shiny expensive new nude body scanners and assume that they are safe. After all, these new scanners are newer than the "old fashioned" metal detectors that actually work. But it seems to be the prime objective of the TSA to cause people to believe that they are safe. For more information, see Corbett's website posts on this topic here and here. If Corbett's analysis is correct, these nude body scanners exemplify this country's approach to many issues. Hype a problem, inject with the fear of terrorists, spend a lot of money that isn't really needed, violate lots of fundamental civil liberties and cover up the fact that the money is not being well-spent.

Continue ReadingNude body airport scanners: Eight billion dollar fraud

Due process sure ain’t what it used to be

Attorney General Eric Holder gave a speech this week, a speech which is the only known public justification for the administration's policy of assassinations of American citizens. The speech may be read in its entirety here. The real justifications are too secret to tell you about, so Holder had to summarize the complex legal arguments and distill them down to their legal essence. For those of you who don't have the time to read the whole speech, allow me to distill the arguments further. Holder's weighty legal analysis boils down to this: "we can do whatever we want, and nobody can tell us otherwise." [More . . . ]

Continue ReadingDue process sure ain’t what it used to be