We'll always have Paris
Patrice Lewis
Oct 11, 2008
http://www.worldnetdaily.com/index.php
?fa=PAGE.view&pageId=77633
No doubt you've heard that the House of Representatives passed the $700-plus billion bailout of the U.S. financial system, thus shackling American citizens into an abyss of debt unprecedented in history. Unfortunately, it hasn't helped the stock market, which continues to fluctuate to an alarming degree. Americans are bracing for an unknown economic future.
But on the bright side, you'll be happy to know that Britney Spears is planning to launch a new line of fitness videos capitalizing on her amazing physical recovery after having kids.
European markets are being impacted by the widening economic spiral. (Iceland is close to bankruptcy.) Stocks worldwide are free-falling. Investors are taking an understandably bleak view of the future because no one sees an end to the crisis.
But all this fades in importance when we consider that Kim Kardashian got booted off "Dancing with the Stars." I consider this much more shocking than the potential for another Great Depression.
The Bush administration is considering taking part ownership of certain U.S. banks as an option for dealing with the global credit crisis (socialism, anyone?), but I'm relieved to learn that Beyonce's marriage to Jay-Z is real. "It's not about interviews or getting the right photo-op," she assured Essence Magazine. "It's real." Phew.
Honestly, it's the most incredible disconnect imaginable. I'll log onto the Internet, concerned about the state of the economy or the presidential election ... only to be faced with screaming headlines about some Hollywood twit's latest personal meltdown, scandal, serial marriage or wardrobe malfunction.
What is with us, anyway? Why do any of us really give a rat's rear end about Brangelina or Madonna or Britney or Lindsey or whomever?
Now, I realize that nothing but a constant diet of sobering domestic and international bad news could result in a serious case of mental depression, but on the other hand Americans seem obsessed with the fluff and blather of celebrities to the exclusion of serious issues.
If you stop someone on the street and ask them about Barney Frank's role in the stock dives of Fannie Mae or Freddie Mac, they'll probably reply "Barney who?" But if you ask them about Ashlee Simpson-Wentz's white-trash birthday bash, you'll probably get a diatribe worthy of Bill O'Reilly.
If I wanted to enter the realm of deep, dark conspiracy theory, I would say that our obsession with celebrities to the exclusion of serious concerns is encouraged. It's so handy, after all, when the American sheeple are anesthetized into complaisance by the latest news of Ellen DeGeneres' love life or Amy Winehouse's sobriety issues. That way we're too preoccupied to object when the government fetters our great-grandchildren with trillions of dollars of debt and sells our American souls to terrorists. By filling our brains with Jennifer Lopez and Tom Cruise, we don't notice Wall Street bailouts or congressional peccadilloes.
Even schools encourage (or at least surrender to) celebrity obsession by assigning essays based on sitcom viewing rather than, say, classic literature. Wonderful.
So, while the government (once again) ignores the wishes of 70 percent of the population and unconstitutionally grabs more power than at any time since the Great Depression, at least our school kids can sharpen their rhetorical skills by discussing Heather Locklear's DUI.
Showing posts with label Bush administration. Show all posts
Showing posts with label Bush administration. Show all posts
Monday, October 13, 2008
Thursday, September 25, 2008
Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter
Dirty Secret Of The Bailout: Thirty-Two Words That None Dare Utter
Jason Linkins
Sep 22, 2008
http://www.huffingtonpost.com/2008/09/22/
dirty-secret-of-the-bailo_n_128294.html
A critical - and radical - component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. [..] just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that's so flat-out astounding that it ought to set one's hair on fire. It reads, in its entirety:
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.
Jason Linkins
Sep 22, 2008
http://www.huffingtonpost.com/2008/09/22/
dirty-secret-of-the-bailo_n_128294.html
A critical - and radical - component of the bailout package proposed by the Bush administration has thus far failed to garner the serious attention of anyone in the press. [..] just a single sentence of thirty-two words, but it represents a significant consolidation of power and an abdication of oversight authority that's so flat-out astounding that it ought to set one's hair on fire. It reads, in its entirety:
Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.
In short, the so-called "mother of all bailouts," which will transfer $700 billion taxpayer dollars to purchase the distressed assets of several failed financial institutions, will be conducted in a manner unchallengeable by courts and ungovernable by the People's duly sworn representatives. All decision-making power will be consolidated into the Executive Branch - who, we remind you, will have the incentive to act upon this privilege as quickly as possible, before they leave office. The measure will run up the budget deficit by a significant amount, with no guarantee of recouping the outlay, and no fundamental means of holding those who fail to do so accountable.
Tuesday, September 23, 2008
Welcome to the final stages of the coup...
Welcome to the final stages of the coup...
Larisa Alexandrovna
Sep 20, 2008
http://www.huffingtonpost.com/larisa-alexandrovna/
welcome-to-the-final-stag_b_127990.html
Let me first point you to the Bush administration's so-called Wall Street bailout bill, here, so that you can see for yourself that this treachery is being conducted in the light of day. Fascism is finally and formally out of the right-wing closet even if the F word is not yet openly being used (although it should be, and often).
Now, if you do not yet understand that the Wall Street crisis is a man-made disaster done through intentional deregulation and corruption, I have a bridge in Alaska to sell to you (or Sara Palin does anyway). This manufactured crisis is now to be remedied, if the fiscal fascists get their way, with the total transfer of Congressional powers (the few that still remain) to the Executive Branch and the total transfer of public funds into corporate (via government as intermediary) hands.
The Bush family, in the form of Prescott Bush, has tried a more aggressive coup before in order to install fascism in this country. This treasonous plot was called "the Business Plot," because the high-level plotters - including Prescott Bush - were Wall Street men who openly supported fascism.
It seems this time around, the Bush family is trying the more subtle approach to open bloodshed: first create a crisis, then under the guise of addressing that crisis, overthrow democracy. Yes, it does sound terribly conspiracy-theory-esque when explained just this way. But what else does one call a criminal conspiracy to destroy Congressional powers permanently, alter Judicial powers permanently, and steal public funds?
Larisa Alexandrovna
Sep 20, 2008
http://www.huffingtonpost.com/larisa-alexandrovna/
welcome-to-the-final-stag_b_127990.html
Let me first point you to the Bush administration's so-called Wall Street bailout bill, here, so that you can see for yourself that this treachery is being conducted in the light of day. Fascism is finally and formally out of the right-wing closet even if the F word is not yet openly being used (although it should be, and often).
Now, if you do not yet understand that the Wall Street crisis is a man-made disaster done through intentional deregulation and corruption, I have a bridge in Alaska to sell to you (or Sara Palin does anyway). This manufactured crisis is now to be remedied, if the fiscal fascists get their way, with the total transfer of Congressional powers (the few that still remain) to the Executive Branch and the total transfer of public funds into corporate (via government as intermediary) hands.
The Bush family, in the form of Prescott Bush, has tried a more aggressive coup before in order to install fascism in this country. This treasonous plot was called "the Business Plot," because the high-level plotters - including Prescott Bush - were Wall Street men who openly supported fascism.
It seems this time around, the Bush family is trying the more subtle approach to open bloodshed: first create a crisis, then under the guise of addressing that crisis, overthrow democracy. Yes, it does sound terribly conspiracy-theory-esque when explained just this way. But what else does one call a criminal conspiracy to destroy Congressional powers permanently, alter Judicial powers permanently, and steal public funds?
Monday, September 8, 2008
US Government takes over mortgage giants
US Government takes over mortgage giants
Sep 07, 2008
By Alan Zibel and Martin Crutsinger, AP Business Writers
http://biz.yahoo.com/ap/080907/mortgage_giants_crisis.html
US Government seizes control of mortgage giants Fannie Mae and Freddie Mac
WASHINGTON (AP) -- The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy.
Treasury Secretary Henry Paulson is betting that providing fresh capital to the two firms will eventually lead to lower mortgage rates, spur homebuying demand and slow the plunge in home prices that has ravaged many areas of the country.
The huge potential liabilities facing each company, as a result of soaring mortgage defaults, could cost taxpayers tens of billions of dollars, but Paulson stressed that the financial impacts if the two companies had been allowed to fail would be far more serious.
"A failure would affect the ability of Americans to get home loans, auto loans and other consumer credit and business finance," Paulson said.
But more importantly, "Fannie Mae and Freddie Mac are so large and so interwoven in our financial system that a failure of either of them would cause great turmoil in our financial markets here at home and around the globe," he added in a televised announcement.
Sep 07, 2008
By Alan Zibel and Martin Crutsinger, AP Business Writers
http://biz.yahoo.com/ap/080907/mortgage_giants_crisis.html
US Government seizes control of mortgage giants Fannie Mae and Freddie Mac
WASHINGTON (AP) -- The Bush administration seized control Sunday of troubled mortgage giants Fannie Mae and Freddie Mac, aiming to stabilize the housing market turmoil that is threatening financial markets and the overall economy.
Treasury Secretary Henry Paulson is betting that providing fresh capital to the two firms will eventually lead to lower mortgage rates, spur homebuying demand and slow the plunge in home prices that has ravaged many areas of the country.
The huge potential liabilities facing each company, as a result of soaring mortgage defaults, could cost taxpayers tens of billions of dollars, but Paulson stressed that the financial impacts if the two companies had been allowed to fail would be far more serious.
"A failure would affect the ability of Americans to get home loans, auto loans and other consumer credit and business finance," Paulson said.
But more importantly, "Fannie Mae and Freddie Mac are so large and so interwoven in our financial system that a failure of either of them would cause great turmoil in our financial markets here at home and around the globe," he added in a televised announcement.
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