Tuesday, January 05, 2021
Is anyone listening?
Friday, October 15, 2010
Stupidity and insanity and banksters run amok
...she became enthralled by a real-life American serial killer, William Edward Hickman, whose gruesome, sadistic dismemberment of 12-year-old girl named Marion Parker in 1927 shocked the nation.
A psychologist whose research was used in constructing the US's program to torture terrorism suspects has been granted a $31-million no-bid Army contract to provide "resilience training" to US soldiers.
For those who just don't have enough:The latest talking point du jour has been around in one form or another for years. It asks us to forget that A) America spends more on defense than every other major nation combined and B) the Pentagon, whose annual budget is now approaching World War II levels in inflation-adjusted terms, has lost track of trillions of taxpayer dollars. In light of those troubling truths, we are nonetheless urged by Beltway Republicans to focus on the fact that defense spending is "4.9 percent of our gross domestic product, significantly below the average of 6.5 percent since World War II," as a recent Wall Street Journal editorial proclaimed.That widely circulated article, aimed squarely at grassroots conservatives, was jointly written by three of the most influential Republican think tanks in Washington -- the Heritage Foundation, the American Enterprise Institute and the Foreign Policy Initiative. And like clockwork, the "percentage of GDP" nugget went from their pen to the GOP's well-oiled media machine.
A gold and jewel bedazzled version of Monopoly worth $2 million is heading to Wall Street this Friday. That's not a metaphor.Krugman on the lack of property mortgage documents:
Crafted by master jeweler Sidney Mobell and 22 years in the making, the set features dice with 42-cut diamonds and a photo-etched 18k gold board.
True to form, the Obama administration’s response has been to oppose any action that might upset the banks, like a temporary moratorium on foreclosures while some of the issues are resolved. Instead, it is asking the banks, very nicely, to behave better and clean up their act. I mean, that’s worked so well in the past, right?
The response from the right is, however, even worse. Republicans in Congress are lying low, but conservative commentators like those at The Wall Street Journal’s editorial page have come out dismissing the lack of proper documents as a triviality. In effect, they’re saying that if a bank says it owns your house, we should just take its word. To me, this evokes the days when noblemen felt free to take whatever they wanted, knowing that peasants had no standing in the courts. But then, I suspect that some people regard those as the good old days.
What should be happening? The excesses of the bubble years have created a legal morass, in which property rights are ill defined because nobody has proper documentation. And where no clear property rights exist, it’s the government’s job to create them.
That won’t be easy, but there are good ideas out there. For example, the Center for American Progress has proposed giving mortgage counselors and other public entities the power to modify troubled loans directly, with their judgment standing unless appealed by the mortgage servicer. This would do a lot to clarify matters and help extract us from the morass.
One thing is for sure: What we’re doing now isn’t working. And pretending that things are O.K. won’t convince anyone.
Thursday, November 20, 2008
In fact... give us our money back
After all, it's our (the taxpaying public's) money; we have a right to know where that money goes, what debts are being paid and however else those billions are being used. It's time, fumes Cramer, for AIG to open its "big book of business" and "show us the money!"As the market tanks:
Cramer then aims his personal Outrage at the market "wizards" and know-it-alls -- you know, the ones you see crowing about how they saw this financial crisis coming and got out and, oh yeah, made a ton of money and are doing absolutely great, thank you very much.
To those smirking faces, this is what Cramer has to say: "Shut the heck up."
After all, "people are losing fortunes, their savings, their nest eggs, college tuition money, hard earned and hard to earn dollars in this stock market." Do these people -- or ANY honest, hard-working people -- need to hear that kind of smug, self-congratulatory crap? What happened to common decency and courtesy -- if not actual empathy?
Dow Could Hit 6,500And there it goes...Expect a further 10%-15% drop in the Dow, predicts Ron Ianieri, chief markets strategist at Options University, adding that the index could slide to 6,500.
Dow Jones Industrial AverageSo. You CEOs who fly private jets to come and ask for more money... you morons who go to private spas and partridge shoots while on the taxpayer's dime... The party is over. And you guys are now accountable to us.
Where did the money go?
Because we want it back.
Update: Josh Marshall of TPM is making a list:
We're focusing today on Mack "MackDaddy" Whittle, longtime CEO of South Financial Group, who pushed up his retirement last month so he could cash out with a $18 million Golden Parachute just before sending his bank hat in hand to the Feds to get $347 million in choice Grade A Prime bailout money.
[snip]
But we also know Whittle isn't the only one who's pulled something like this. And we want to put together a list of everyone who has. It doesn't have to be precisely like this. Gazillion dollar corporate retreats while you've turned your company over to the Treasury Department's corporate ICU will do fine as well.So let us know all the examples you can think of.
Late Update: Surprise, surprise -- turns out Whittle was a part of McCain's South Carolina finance team. And now a shareholder is suing him to cough up some of the loot.
Tuesday, September 09, 2008
Palin: 'A fraud of truly comical dimensions'
We've now had a week of blaring headlines and one-liners about Sarah Palin as the mavericky, pork-busting reformer from Alaska. But we seem to be witnessing the first stirrings of a backlash and a dawning realization that the 'Sarah Palin' we've heard so much about over the last few days is a fraud of truly comical dimensions.
The McCain camp has made her signature issue shutting down the Bridge to Nowhere. But as The New Republic put it today that's just "a naked lie." And pretty much the same thing has been written today in Newsweek, the Washington Post, the AP, the Wall Street Journal. Yesterday even Fox's Chris Wallace called out Rick Davis on it. (Do send more examples when you find them.)
On earmarks she's an even bigger crock. On the trail with McCain they're telling everyone that she's some kind of earmark slayer when actually, when she was mayor and governor, in both offices, she requested and got more earmarks than virtually any city or state in the country.
Wednesday, December 05, 2007
I WANT MY MONEY BACK!
Government watchdog CREW today released a report, Homeland Security for Sale — DHS: Five Years of Mismanagement, “detailing massive failures and billions wasted at the Department of Homeland Security.” Some highlights:
– $24 billion has been spent, and at least $178 million wasted, on the failed Coast Guard Deepwater program;
– over $600 million has been allocated for unworkable radiation border scanners;
– $1.3 billion has been lost on the USVISIT program, which was never fully implemented; and
– projected $2 billion loss on the SBInet “virtual fence” border program.
They didn't do the work? Give us back our money. It's that simple. GIVE US BACK OUR MONEY, YOU THIEVES!
Thursday, July 26, 2007
The glorious neocon experiment that is Iraq
Via Chet at Vanity Press:
The Oversight Committee holds a hearing, "Allegations of Waste, Fraud, and Abuse at the New U.S. Embassy in Iraq." The hearing examines the performance of the State Department and its contractors in the construction of the new $600 million U.S. embassy in Baghdad. The Committee reviews questions regarding the embassy compound construction as well as allegations of labor abuse through improper contracting practices. Rory Mayberry, a former subcontractor employee for First Kuwaiti Trading & Contracting Company, gives opening testimony.
Friday, July 06, 2007
Sicko review
Wednesday, June 27, 2007
Sunday, April 15, 2007
Want to place your bets
CHICAGO (Reuters) - Former Florida Governor Jeb Bush, brother of U.S. President George W. Bush, will join the board of Tenet Healthcare Corp. (THC.N: Quote, Profile , Research), the biggest publicly traded hospital company said on Thursday.
The move to appoint Bush, 54, comes as Dallas-based Tenet continues its struggle to recover from a slew of scandals and lawsuits. Last year, it settled with the U.S. Department of Justice for $900 million over allegations that it had bilked the Medicare insurance program for the elderly. Earlier this month it settled a securities probe over fraud charges.
Government lawsuits and several legal actions related to quality of care caused doctors to flee the company's hospitals, which has led to sinking patient admissions.
Update: Sinfonian has an overview of Jeb's lifestyle after he left the governorship.
Thursday, March 29, 2007
Pigs at the trough
NORFOLK - A Chesapeake defense contractor admitted in federal court Monday that his company bilked the Navy out of more than $600,000 by filing phony invoices.
Kennis Sigmon, president of The Sigmon Group, pleaded guilty on behalf of the company to two felony counts of filing false claims.
The company admitted submitting 33 phony invoices from 2001 to 2003 for contract work on Navy aircraft carriers the Carl Vinson and the Dwight D. Eisenhower.
I don't think the defense 'But everyone is doing it' will work anymore....
And do you think we will ever EVER see the money that is owed to us? From Enron? Halliburton? Do ya think?
