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‘Big Government’ Isn’t the Problem, Big Money Is | The Nation

23 Mar

Too many institutions are too big. Bigness always grows until it falls apart. Bigness Fails.

Homeowners can’t use bankruptcy to reorganize their mortgage loans because the banks have engineered laws to prohibit this. Banks have also made it extremely difficult for young people to use bankruptcy to reorganize their student loans. Yet corporations routinely use bankruptcy to renege on contracts. American Airlines, which is in bankruptcy, plans to fire 13,000 people—
16 percent of its workforce—while cutting back health benefits for current employees. It also intended to terminate its underfunded pension plans, until the government agency charged with picking up the tab screamed so loudly that American backed off and proposed to freeze the plans.

Not a day goes by without Republicans decrying the budget deficit. But its biggest driver is Big Money’s corruption of Washington. One of the federal budget’s largest and fastest-growing programs is Medicare, whose costs would be far lower if drug companies reduced their prices. It hasn’t happened because Big Pharma won’t allow it. Medicare’s administrative costs are only 3 percent, far below the 10 percent average of private insurers. So it would be logical to tame rising healthcare costs by allowing any family to opt in. That was the idea behind the “public option.” But health insurers stopped it in its tracks.

via ‘Big Government’ Isn’t the Problem, Big Money Is | The Nation.

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How the rich took over airport security – Transportation Security Administration – Salon.com

23 Mar

Score another win for the Corpstate. The war on terror is a scam to funnel more tax money into the military-industrial complex and to exert more and tighter control over US citizens. Now the rich are being given free front-row seats at TSA security theater in airports. Airlines allow fatcats to go to the head of the line and the government’s testing a program that does the same.

In other words, if you do not fly frequently — and most low-income and middle-income Americans cannot afford to — you would not be allowed to take part in this public government program. In true crony capitalist fashion, the precheck program blurs the line between the government’s security function and the airlines’ purely commercial frequent flier programs.

The precheck program is advertised as an experimental program, holding out the possibility that after a period in which they are subject to more scrutiny than affluent business travelers, low-income grandmothers traveling to visit their grandchildren at last will be able to take part. More likely, the precheck program would never be extended to the masses rather than the classes. It would simply become another permanent perk of the elite, whose members would have no incentive to lobby for democratizing the program — rather the contrary.

via How the rich took over airport security – Transportation Security Administration – Salon.com.

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Open Letter to Ron Paul and Dennis Kucinich: Come Together, Right Now

20 Mar

Dear Ron Paul and Dennis Kucinich,

I urge you to put your respective strengths together on a firm foundation built by back-to-basics Austrian and Buddhist economics. A casual reading of G. Bateson, E. F. Schumacher, John Ruskin, anyone who has thought long and hard about the profound evil embodied in “central banking,” war preparations and “Fed manipulations” everywhere, will give you the tools and bricks you need to build a Reform Party and/or an Americans Elect TEAM based on emergent truths and the oldest traditions.

At the Truth & Traditions party website (cranks and planks without a platform or an actual political party) you will find arguments, positions, reports, a Declaration of Interdependence, some of what you will need to create a balanced platform and a beyond-bi-partisan Sunshine Cabinet whose members and many surrogates can campaign with you this summer and fall.

The key to this Sunshine Cabinet is the creation of a Peace Department (Kucinich in charge?) and an Ecology Department (Bill McKibben or Andrew Kimbrell in charge?), each department NEVER to exceed a size sustainable by a quarter of one percent of the current Defense Department budget. In truth, each department needs only a few dozen people to gather up the long-term thinking and best practices of diverse Great Transition communities, colleges, universities, institutes, limited and democratic governments around the world that work for the best interests of their peoples. These two very small and extremely cost-effective departments can shape and pass on as many proposals to Congress, Executive and Judicial branches as are needed. Continue reading →

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The States Get a Poor Report Card – NYTimes.com

20 Mar

The principle of breaking up the Federal Government and turning programs over to the states is a good one. The problem, alas, is that state governments are corrupt, too. The Corpstate is everywhere.

And yet all the Republican presidential candidates think it would be a good idea to hand some of Washington’s most important programs to state governments, which so often combine corruptibility with incompetence. In a speech on Monday, Mitt Romney said he would dump onto the states most federal anti-poverty programs, including Medicaid, food stamps and housing assistance, because states know best what their local needs are.

States, however, generally have a poor record of taking care of their neediest citizens, and could not be relied on to maintain lifeline programs like food stamps if Washington just wrote them checks and stopped paying attention. In many states, newspapers and broadcasters have cut their statehouse coverage, reducing scrutiny of government’s effectiveness and integrity.

via The States Get a Poor Report Card – NYTimes.com.

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Keystone pipeline will spill, study predicts – Keystone XL pipeline – Salon.com

19 Mar

The already existing Keystone I pipeline, which runs 2,100 miles from Alberta to Illinois, began operating in 2010; in the two years since, 35 spills have occurred. In the pipeline’s first year of operation alone, its spill rate was 100 times TransCanada’s projection. All told the amount of tar sands oil being transported through the United States has more than tripled in the past decade to 600,000 barrels in 2010. Keystone XL, if built, would add another 830,000 barrels per day.

John Stansbury, a professor of civil engineering at the University of Nebraska, analyzed spill data from the Keystone I pipeline to estimate that 91 spills would occur over the course of 50 years of Keystone XL’s operation — close to two spills each year. In a worst-case scenario, he says, a spill could contaminate 4.9 billion gallons of groundwater in Nebraska’s Sand Hills with benzene, a known carcinogen.

Those spills kill the land and thus kill the jobs that depend on the land.

via Keystone pipeline will spill, study predicts – Keystone XL pipeline – Salon.com.

Six Questions for Thomas Frank—By Simone Richmond (Harper’s Magazine)

18 Mar

The social contract of the prosperous and roughly democratic America I was born into has been coming apart for decades, but not for any straightforward reason like “it didn’t work.” It’s coming apart because certain people want it to come apart; because they stand to gain if it comes apart; and yet for them to pull it apart they have to have our consent.

via Six Questions for Thomas Frank—By Simone Richmond (Harper’s Magazine).

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Scores Arrested as the Police Clear Zuccotti Park – NYTimes.com

18 Mar

Scores were arrested Saturday night when protesters marked the 6month anniversary of the initial encampment in Zuccotti Park.

The movement was mainly quiet during the winter, but organizers said they were aiming for a springtime resurgence.

“It’s just a reminder that we’re here,” Brendan Burke said, as the crowd marched past the New York Stock Exchange. “It’s an opportunity to remind Wall Street that we aren’t going anywhere.”

In several respects, Saturday’s march was similar to the inaugural one. The crowd was small but spirited and marched past the bronze sculpture of a bull at Bowling Green, which had served as a mustering spot for the first march. Marchers were accompanied by police officers on foot and on scooters who at one point blocked access to Wall Street, just as they did on Sept. 17.

via Scores Arrested as the Police Clear Zuccotti Park – NYTimes.com.

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Elizabeth Warren has asked Congress to stop the secret bailout of AIG, and so should you.

16 Mar

The issue is about something called “net operating loss,” which in normal circumstances allows corporations to use losses in one year to offset their future tax bills.

But when companies are taken over, as AIG was when the government spent over $100 billion to keep the company afloat, they are supposed to be barred from using their net operating loss in this way.

Here’s where things become suspect. In 2008 the Treasury issued a special waiver to a handful of companies, including AIG, that allows for their net operating losses to offset taxes owed to the government.

At a time of brutal budget cuts at all levels of government, it would be simply unconscionable for Congress to allow for a multi-billion dollar subsidy to AIG’s shareholders and executives.

Go to the link below and sign the peitition.

via Elizabeth Warren has asked Congress to stop the secret bailout of AIG, and so should you..

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The Purpose of Occupy Wall Street Is to Occupy Wall Street | The Nation

15 Mar

Occupy Wall Street. What other political movement in modern times has won the sympathy and/or support of the majority of the American public—in less than two months? How did this happen? I think it was a revolt that has been percolating across the country since Reagan fired the first air traffic controller. Then, on September 17, 2011, a group of (mostly) young adults decided to take direct action. And this action struck a raw nerve, sending a shock wave throughout the United States, because what these kids were doing was what tens of millions of people wished they could do. The people who have lost their jobs, their homes, their “American dream”—they cathartically cheered on this ragtag bunch who got right in the face of Wall Street and said, “We’re not leaving until you give us our country back!”

By purposely not creating a formal, hierarchical organization with rules and dues and structure and charismatic leaders and spokespeople—all the things their parents told them they would need in order to get anything done—this new way allowed people from all over the country to feel like they were part of the rebellion by simply deciding that they were part of the rebellion. You want to occupy your local bank—do it! You want to occupy your college board of trustees—done! You want to occupy Oakland or Cincinnati or Grass Valley—be our guest! This is your movement, and you can make it what you want it to be.

via The Purpose of Occupy Wall Street Is to Occupy Wall Street | The Nation.

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Bank of America: Too Crooked to Fail | Politics News | Rolling Stone

14 Mar

It’s been four years since the government, in the name of preventing a depression, saved this megabank from ruin by pumping $45 billion of taxpayer money into its arm. Since then, the Obama administration has looked the other way as the bank committed an astonishing variety of crimes – some elaborate and brilliant in their conception, some so crude that they’d be beneath your average street thug. Bank of America has systematically ripped off almost everyone with whom it has a significant business relationship, cheating investors, insurers, depositors, homeowners, shareholders, pensioners and taxpayers. It brought tens of thousands of Americans to foreclosure court using bogus, “robo-signed” evidence – a type of mass perjury that it helped pioneer. It hawked worthless mortgages to dozens of unions and state pension funds, draining them of hundreds of millions in value. And when it wasn’t ripping off workers and pensioners, it was helping to push insurance giants like AMBAC into bankruptcy by fraudulently inducing them to spend hundreds of millions insuring those same worthless mortgages.

But despite being the very definition of an unaccountable corporate villain, Bank of America is now bigger and more dangerous than ever. It controls more than 12 percent of America’s bank deposits (skirting a federal law designed to prohibit any firm from controlling more than 10 percent), as well as 17 percent of all American home mortgages. By looking the other way and rewarding the bank’s bad behavior with a massive government bailout, we actually allowed a huge financial company to not just grow so big that its collapse would imperil the whole economy, but to get away with any and all crimes it might commit. Too Big to Fail is one thing; it’s also far too corrupt to survive.

via Bank of America: Too Crooked to Fail | Politics News | Rolling Stone.

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