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Week Ending August 10, 2012

Readers' Choice / Most Read Views...





  1. Greater Good / YES! Magazine: Happiness Comes From Respect, Not Riches

  1. Glenn Greenwald: Obama the Pioneer



  1. John Nichols: Paul Ryan? Seriously?

  1. Carl Gibson: Target Election Fraud, Not "Voter Fraud"

 

 


 

Readers' Choice / Most Read News...

Thousands of UK Workers 'Blacklisted' Over Political Views
Activists threaten legal action over failure to investigate.

Article here...

Outcry as Walmart OK's Monsanto GM Corn
The corn will not be labelled and consumers will not be notified that the sweet corn they are buying are engineered by agro-giant Monsanto and genetically-altered.

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NOAA: July Was Hottest Month Ever in US
Drought expands to cover nearly 63% as wildfires consume 2 million acres.

Article here...

Startup 'Blood Money': Romney's Fund Tied to Death Squads
The connection between the families involved with Bain's founding and those who financed death squads was made by the Boston Globe in 1994.

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Global Water Demand Outstripping Ancient Supply: Study
Groundwater use is unsustainable in many of the world's major agricultural zones.

Article here...

Pussy Riot Prosecutor Calls for 3-Year Jail Term: 'Feminism Is a Mortal Sin'
Prosecutors accused the band members of insulting Russian Orthodoxy and posing a danger to society, after performing one of their songs in a Moscow cathedral.

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Chevron Oil Refinery Fire Clouds Bay Area in Toxic Smoke
Hundreds seek medical attention after inhaling noxious fumes.

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Crazy Weather: 'Virtually No Other Explanation Than Climate Change'
New study, led by NASA's James Hansen, refutes notion that weather events cannot be attributed to systemic climate change.

Article here...

'No Charges' Against Goldman Sachs, say Feds
Without accountability, says former watchdog, the 'unending parade of megabanks scandals will inevitably continue'.

 

Article here...

Group: 'Organic' Baby Formula Laced with Synthetics
Cornucopia Institute files legal complaint against manufacturers.

Article here...


 

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"I'm just trying to make a way out of no way, for my people" -Modejeska Monteith Simpkins

 

AFRICAN AMERICA IS AT WAR

THERE IS A RACE WAR ON AFRICAN AMERICA

THERE IS A RACE WAR ON AFRICAN AMERICANS

THERE IS A RACE WAR ON BLACK PEOPLE IN AMERICA

AMERICA'S RACISTS HAVE INFILTRATED AMERICAN POLICE FORCES TO WAGE A RACE WAR AGAINST BLACK PEOPLE IN AMERICA

THE BLACK RACE IS AT WAR

FIRST WORLD WAR:  THE APPROXIMATELY 6,000 YEAR WORLD WAR ON AFRICA AND THE BLACK RACE

Original Post

I find this story to be beyond incredible. Somebody needs to pay. 

 

 

 

 

'No Charges' Against Goldman Sachs, say Feds

 

Without accountability, says former watchdog, the 'unending parade of megabanks scandals will inevitably continue'

- Common Dreams staff
 
 

In a case that exemplifies the degree to which Wall Street's largest financial firms have been shielded from meaningful prosecution for their role in the financial crisis of 2008, the Justice Department late on Thursday announced that no charges would be brought against Goldman Sachs for its role in fueling the sub-prime mortgage debacle.

 

Goldman Sachs Group Inc. Chief Executive Officer Lloyd C. Blankfein. (Photographer: Scott Eells/Bloomberg) 

 

Goldman Sachs -- which Rolling Stone's Matt Taibbi once famously described as 'a giant vampire squid wrapped around the face of humanity' -- will not face prosecution for selling bundled 'mortgage-backed securities' to clients while simultaneously describing them as "crap" in internal communications.

 

As Bloomberg recounts, "The Senate’s Permanent Subcommittee on Investigations concluded in April 2011 that Goldman Sachs had peddled mortgage- related securities to its clients while failing to disclose that the firm had bet that those instruments would lose value. The investigation pinned much of the blame for the credit crisis on Wall Street banks that earned billions of dollars by enticing clients to buy the risky bonds."

 

"Without... accountability, the unending parade of megabanks scandals will inevitably continue." -- Neil Barofsky


The proliferation of securitized sub-prime mortgages -- and the manner in which such products were pushed on unknowing consumers -- are widely credited with triggering the collapse of the housing market and sending the financial credit markets into a tailspin in the summer and fall of 2008.

 

"The department and investigative agencies ultimately concluded that the burden of proof to bring a criminal case could not be met based on the law and facts as they exist at this time," the Justice Department said in a statement late on Thursday.

 

Neil Barofsky, a former watchdog for the U.S. government's financial system bailout in 2008, told Reuters that the announcement was a stark reminder that no individual or institution had been held meaningfully accountable for their role in the financial crisis.

 

"Without such accountability, the unending parade of megabanks scandals will inevitably continue," said Barofsky, who has been an outspoken critic of the government's response to the financial crisis.

 

In a brief statement emailed to Reuters, a Goldman Sachs spokesman said: "We are pleased that this matter is behind us."

Originally Posted by Xumbrarchist:

I did a search of the website of the New Economics Institute.

 

No mention of "planned obsolescence".  We are supposed to believe they know what is going on?

 

Xum

 

 

It's really that people are just operating within the acceptance of 'planned obsolescence' in the first place, especially since most people today are too young to know of any other form of production, and those in charge of production take advantage of that fact.

Originally Posted by EbonyRose:

I find this story to be beyond incredible. Somebody needs to pay. 

 

 

 

 

 

 

But, really, haven't they ALL gotten away with fleecing the United States treasury, flim/flaming the United States homeowners, price gouging the American consumer, and creating a pipeline from debt to credit ruin for nearly every working/middle/poor American, not to mention these decades of "planned obsolescence" often referred to by Xum?

 

Only a revolution by the 99% is going to change anything in this country, and depending on this next election, if it's not already too late.

Originally Posted by sunnubian:
 

Only a revolution by the 99% is going to change anything in this country, and depending on this next election, if it's not already too late.

 

But you know, Sunnubian .... reading this story really got me to thinking about the fact of how HARD .... (if not impossible - although I refuse to believe that anything is impossible! ) ... it is/would be to fight against the power of MONEY!!!

 

As was shown in the ALEC video you posted .... money BUYS our government!!!  It literally BUYS our politicians - and the legislation they create that we live by!!!   Which is pretty powerful when you think about it.  I mean .... how do people (even if it IS 99% (i.e. millions) of the population!) - who have no money - compete with that?? 

 

One thought was that you would need to kick at least 3/4 of the current Members of Congress in BOTH parties out on their keesters and essentially 'start all over' with a whole, fresh, new crop!!!  Which - because of procedure and protocol - would probably create major chaos, at the very least, due to how seniority and committee appointments work!! 

 

It's something 'we the people' aren't really much concerned or involved in.  But, because there are constitutional, procedural and legislative rules governing how the government has to be run, we could end up with a mess (of a government) until they are able to straighten that all out! 

 

However .... we WOULD (at least for some period of time) have a Chamber of not-yet-bought-and-corrupted Representatives in Congress that just might be willing to do what we elected them to do??? 

 

Other than that .... the only other recourse I can think of would be to change the laws/rules of lobbying and the influx and influence of corporate money going into politics .... (another thing the President naively campaigned on and thought he could do/control) ... but, knowing the ruthlessness of the rich and the lengths they're willing to go to protect their wealth .... I can almost imagine someone getting assassinated just for trying. 

Originally Posted by sunnubian:
Originally Posted by Xumbrarchist:

I did a search of the website of the New Economics Institute.

 

No mention of "planned obsolescence".  We are supposed to believe they know what is going on?

 

Xum

 

 

It's really that people are just operating within the acceptance of 'planned obsolescence' in the first place, especially since most people today are too young to know of any other form of production, and those in charge of production take advantage of that fact.

But we are supposed to deal with pollurion and global warming anyway?  LOL

 

That is a paradigm that means NO SOLUTION!

 

Is that why one economist called ma a LOONY for this:

 

http://toxicdrums.com/economic...s-by-dal-timgar.html

 

???

 

Xum

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