Rolling Stone examines the Catholic Church’s secret sex crime files

The September 15, 2011 edition of Rolling Stone shines a light on the inner-workings of the leadership of the Catholic Church, centering on an ongoing criminal case in Philadelphia involving five allegedly sexual predators (for priests and a Catholic school teacher). This is a well researched and well-written article by Sabrina Rubin Erdely. The article is filled with disturbing anecdotes and statistics. For instance,

  • The US conference of Catholic Bishops funded a study that lowered the number of clergy classified as pedophiles by redefining puberty as beginning at age 10
  • "Seminary is a form of military-style indoctrination, molding meant his think institutionally, not individually it's like a brainwashing, almost [states a former seminarian]"
  • According to a 1990 psychological study, "only half of all priests adhere to their vows of celibacy."
  • Another study ("The Catholic Priest in the United States: Psychological Investigations") found "that three fourths of all American priests were psychologically and emotionally underdeveloped, or even mal-developed." The attitudes of these grown men toward sex, the study concluded "were on par with those of teenagers or even preteens."
Why has the cover-up of sexual predators continued on to the present? "The answer, in large part, lies in the mindset of the church is rigid hierarchy, which promotes officials who are willing to do virtually anything they're told, so long as it's in God's name." The focus of the article is the conduct of high-ranking Catholic clergy who engaged in the now-well-known conduct of denying the criminal conduct of pedophile priests, and moving them from parish to parish, or school to school, rather than calling in the police, or at least defrocking the miscreant priests. Stir in additional misconduct such as hiding incriminating records and you understand the criminal minds of much of the leadership of the modern Catholic Church, an organization that claims moral authority while exhibiting none when it comes to the horrific conduct of many of its high-ranking leaders.

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Trillions in secret loans by the Fed reveal massive welfare for too-big-to-fail banks

Thanks to incorruptible Senator Bernie Sanders, who describes himself as a democratic socialist, the Federal Reserve has been forced to reveal information regarding loans that it tried hard to keep secret.   Here's what we are finding, according to IPS:

The Fed provided loans to JP Morgan Chase bank to acquire Bear Stears, a failed investment firm; provided loans to keep American International Group (AIG), a multinational insurance corporation, afloat; extended lending commitments to Bank of America and Citigroup; and purchased risky mortgage-backed securities to get them off private banks’ books. Overall, the greatest borrowing was done by a small number of institutions. Over the three years, Citigroup borrowed a total of 2.5 trillion dollars, Morgan Stanley borrowed two trillion; Merryll Lynch, which was acquired by Bank of America, borrowed 1.9 trillion; and Bank of America borrowed 1.3 trillion.
I'd call it welfare for the too-big-to-fail. Phase One of the bailout was to address a legitimate liquidity crisis. Phase Two went far beyond this, and was kept secret because the public would never have consented to the above actions Here's how Economist Randall Wray sums up Phase Two:
"But then it turned to phase two, which was to try to resolve problems of insolvency by increasing Uncle Sam’s stake in the banksters’ fiasco. That never should have been done. You close down fraudsters, period. The Fed and FDIC (Federal Deposit Insurance Commission) should have gone into the biggest banks immediately, replaced all top management, and should have started to resolve them," Wray said.

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License to commit contempt granted to the CIA

The CIA destroyed 92 videotapes depicting torture of two prisoners, Abu Zubaydah and Abd Al-Rahim Al-Nashiri during the course of litigation brought by the ACLU. Here's how the ACLU reports the CIA conduct:

We argued that the CIA showed complete disdain for the court and the rule of law itself when it flouted several court orders to produce the videotapes and instead destroyed them. To provide some background, in September 2004, the court first ordered the CIA to produce or identify all records pertaining to the treatment of detainees in its custody, which would have included at least 92 videotapes documenting the harsh interrogation of the two prisoners. Despite the orders, the CIA never produced the tapes or even acknowledged their existence. Unbeknownst to the public, the tapes were destroyed in November 2005, a year after the court’s first order, although the destruction was not publicly revealed until 2007.
Are you ready to hear about the severe ruling by the judge. There was no contempt of court. The ruling was an invitation for the CIA to do whatever the hell it wants next time. Inconvenient evidence? No problem! Check out this part of the ruling: "The bottom line is we are in a dangerous world. We need our spies, we need surveillance, but we also need accountability."

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Insider Trading Writ Large

Imagine, if you will, a country in which banking regulations were stripped down so far that worthless paper again becomes a hot commodity. Now consider that this had (as it inevitably must) blown up and caused a crash in the lending market and equities market and thus the economy in general. Further note that a necessary result would be a rapid rise in the price of precious metals, notably gold. After a couple of years, that gold bubble would be ripe. People who had assets remaining when the junk bonds or sub-prime mortgages or whatever collapsed could have conservatively moved their money into gold, further depressing the equities market and inflating the price of gold. But, wait. Because of government investing, the market was recovering too fast! So fast that the wealthy were unable to swap their inflated gold for depressed stocks at the optimum time. What to do? Congress to the rescue! The wholly owned carriers of the banners of freedom and independence could be employed to create a palpably unnecessary crisis with a distinct deadline. Yes! This would quickly depress the markets and allow those holding too much bubble-gold to buy depressed stocks. Meanwhile, those elected to carry the load of screwing the middle class could also jump on the wagon and buy up stocks just before the deadline hits. Then the price of stocks returns to normal levels, and the gold bubble can be allowed to pop. I, for one, would like to see the trading histories of all those involved in the current crisis, and their friends and kin.

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