Thursday, November 6, 2008

Naomi Klein: The Bush gang's parting gift: a final, frantic looting of public wealth

In the final days of the election many Republicans seem to have given up the fight for power. But don't be fooled: that doesn't mean they are relaxing. If you want to see real Republican elbow grease, check out the energy going into chucking great chunks of the $700bn bail-out out the door. At a recent Senate banking committee hearing, the Republican Bob Corker was fixated on this task, and with a clear deadline in mind: inauguration. "How much of it do you think may be actually spent by January 20 or so?" Corker asked Neel Kashkari, the 35-year-old former banker in charge of the bail-out.

When European colonialists realised that they had no choice but to hand over power to the indigenous citizens, they would often turn their attention to stripping the local treasury of its gold and grabbing valuable livestock. If they were really nasty, like the Portuguese in Mozambique in the mid-1970s, they poured concrete down the elevator shafts.

Nothing so barbaric for the Bush gang. Rather than open plunder, it prefers bureaucratic instruments, such as "distressed asset" auctions and the "equity purchase program". But make no mistake: the goal is the same as it was for the defeated Portuguese - a final, frantic looting of the public wealth before they hand over the keys to the safe.

How else to make sense of the bizarre decisions that have governed the allocation of the bail-out money? When the Bush administration announced it would be injecting $250bn into US banks in exchange for equity, the plan was widely referred to as "partial nationalisation" - a radical measure required to get banks lending again. Henry Paulson, the treasury secretary, had seen the light, we were told, and was following the lead of Gordon Brown.

In fact, there has been no nationalisation, partial or otherwise. American taxpayers have gained no meaningful control over the banks, which is why the banks are free to spend the new money as they wish. At Morgan Stanley, it looks as if much of the windfall will cover this year's bonuses. Citigroup has been hinting it will use its $25bn buying other banks, while John Thain, the chief executive of Merrill Lynch, told analysts: "At least for the next quarter, it's just going to be a cushion." The US government, meanwhile, is reduced to pleading with the banks that they at least spend a portion of the taxpayer windfall for loans - officially, the reason for the entire programme.

What, then, is the real purpose of the bail-out? My fear is this rush of dealmaking is something much more ambitious than a one-off gift to big business: that the Bush version of "partial nationalisation" is rigged to turn the US treasury into a bottomless cash machine for the banks for years to come. Remember, the main concern among the big market players, particularly banks, is not the lack of credit but their battered share prices. Investors have lost confidence in the honesty of the big financial players, and with good reason.

~ more... ~

 

Texas Congressman and 2008 presidential candidate Ron Paul has warned that the euphoria surrounding the election of Barack Obama combined with the overwhelming fear of major international crises could facilitate a cataclysmic shift toward a new world order.

Appearing live on the Alex Jones show earlier today, the Congressman spoke of a feeling of dread surrounding the change of guard both in the White House and on Capitol Hill:

"I do feel it but I don't think it's brand new, I didn't wake up with it, I've had it for a while, I don't think the election was a surprise, but the rhetoric is getting pretty strong and they are getting very bold." he commented.

Speaking on the stage management of the election, and calling it a "huge distraction" from real issues, the Congressman outlined how both candidates were pre-positioned by the elite interests with the knowledge that either would satisfactorily serve their agenda:

"I think McCain was obviously a back up candidate in case something happened where Obama didn't win, they'd have been satisfied with McCain, but they have been positioning Obama for a long long time.".... (cont'd)

Ralph Nader asks if Barack Obama will be an 'Uncle Tom' for giant corporations

Obama: Will he "change" Bush police state or expand it?

Let's be generous and give Obama the whole four years of his initial term to make significant progress on the following issues. Here are some questions about "change" that we are going to be keeping track of until 2012.

- Will Obama repeal Patriot Acts I and II as well as reversing Bush's signing statement and acknowledging the repeal of the John Warner Defense Authorization Act?

- Will Obama support Dennis Kucinich's efforts to bring war crimes charges against Bush, Cheney and others for deceiving the country into a war or will he protect them against such charges like Nancy Pelosi has done?

- Will Obama bring war crimes charges against Bush, Cheney and others for authorizing torture and will the torture of suspects under U.S. detention, a complete violation of both the Constitution and the Geneva Conventions, cease under an Obama administration?

- Will Obama withdraw American troops from Iraq and Afghanistan without sending them away again to bomb another broken-backed third world country in the name of a UN-supported "humanitarian" war?

- Will Obama end the warrantless secret surveillance and phone-taps of American citizens?

- Will Obama follow through on his rhetorical support for the second amendment or will he seek to ban guns as he did in Illinois?

- Will Obama cease his support for the Bush-administration backed banker bailouts, hated by the majority of Americans, and target the real cause of the problem - the Federal Reserve - or will he continue to give taxpayers' money to banks who are merely hoarding it all for themselves?

- Will Obama seek to continue the militarization of America and preparations for martial law through Northcom and the secret government or will he dismantle the police state that has been constructed over the last eight years by the Bush administration?

~ more... ~

 

“Judge Kessler's ruling represents a stern reminder to the CIA that it must live up to our nation's open government laws”

A couple of positive items from The National Security Archive:
 
 

Nation finally shitty enough to make social progress

[Satire from The Onion ]

Obama's victory is being called the most significant change in politics since the 1992 election, when a full-scale economic recession led voters to momentarily ignore the fact that candidate Bill Clinton had once smoked marijuana. While many believed things had once again reached an all-time low in 2004, the successful reelection of President George W. Bush—despite historically low approval ratings nationwide—proved that things were not quite shitty enough to challenge the already pretty shitty status quo.

"If Obama learned one thing from his predecessors, it's that timing means everything," said Dr. James Pung, a professor of political science at Princeton University. "Less than a decade ago, Al Gore made the crucial mistake of suggesting we should care about preserving the environment before it became unavoidably clear that global warming would kill us all, and in 2004, John Kerry cost himself the presidency by criticizing Bush's disastrous Iraq policy before everyone realized our invasion had become a complete and total quagmire."

"Obama had the foresight to run for president at a time when being an African-American was not as important to Americans as, say, the ability to clothe and feed their children," Pung continued. "An election like this only comes once, maybe twice, in a lifetime."

~ more... ~

 

 

Google
 

image from http://www.spitting-image.net

Favorite Links

~325~ ~9-11...Who Really Did It~ ~10:10~ ~10 Zen Monkeys~ ~911 Truth~ ~13 Indigenous Grandmothers~ ~15O~ ~15th October~ ~Activist Post~ ~ACT UP~ ~Adbusters~ ~Aerogaz (greek)~ ~Afinity Project~ ~Aging Hipsters~ ~Alecto's Ophelia~ ~Al-Jazeera~ ~Alex Constantine's Blacklist~ ~Alliance for Human Research Protection~ ~All Things Cynthia McKinney~ ~All Things Pakistan~ ~Alternative Insight~ ~Alternative Press Review~ ~Alternet~ ~American Friends Service Committee~ ~American Street~ ~Anarkismo~ ~Andy Worthington~ ~Anglican Pacifist Fellowship~ ~Anomaly News Syndicate~ ~Another Day In The Empire~ ~AntiWar~ ~Antiwar League~ ~Anxiety Culture~ ~Appeal For Redress From The War In Iraq~ ~A Poetic Justice~ ~Artists Without Frontiers~ ~Art of Europe~ ~Arts And Letters Daily~ ~Attack the System~ ~Athens IMC~ ~Ballardian~ ~Bilderberg.org~ ~Black Box Voting~ ~BlackListed News~ ~Black Vault~ ~Blog Bioethics net~ ~Blog of the Unknown Writer~ ~Blondsense~ ~Boiling Frog~ ~Boiling Frogs Post~ ~BoingBoing~ ~Book Ninja~ ~Bookslut~ ~Bradley Manning Support Network~ ~Brand New Law~ ~Brainsturbator~ ~Bring Them Home Now~ ~Bruce Eisner's Vision Thing~ ~Buckminster Fuller Institute~ ~Bulletin of the Atomic Scientists~ ~Bureau of Public Secrets~ ~Business & Human Rights Resource Centre~ ~Buzzflash~ ~Campaign For Real Farming~ ~Catapult the Propaganda~ ~Campus Antiwar Network~ ~Cargo Culte~ ~Castan Centre for Human Rights Law~ ~Catch of the Day~ ~Censorship Paradise~ ~Center for Media and Democracy~ ~Centre for Conflict and Peace Studies, Afghanistan~ ~Centre for Research and Action for Peace~ ~Center on Law and Security~ ~Chapati Mystery~ ~Choike~ ~Chomsky.info~ ~Chronicle of Higher Education~ ~Church of the FSM~ ~CIA & Drugs~ ~Citizens for Legitimate Government~ ~Citizens for Tax Justice~ ~Clandestina~ ~CODEPINK~ ~Coilhouse mag~ ~Collateral Murder~ ~Common Dreams~ ~Complete 9/11 Timeline~ ~Concerned Africa Scholars~ ~Connexions~ ~Conspiracy Archive~ ~Contra Info~ ~Corrente~ ~COTO Report~ ~Coup d'Etat in America~ ~Countercurrents~ ~Crapaganda~ ~Create Real Democracy~ ~Creative-i~ ~Crimes of the State~ ~CrimethInc~ ~Crisis Group~ ~Critical Legal Thinking~ ~Cronache da Mileto (Italian)~ ~Crooks and Liars~ ~Crowd Modelling~ ~Cryptoforestry~ ~Cryptome~ ~Cyclos~ ~Culture Change~ ~Cutting Through The Matrix~ ~Cyrano's Journal~ ~Daily What~ ~Damn Interesting~ ~Dangerous Minds~ ~Deliberative Democracy Consortium~ ~Democracy Center~ ~Democracy Journal~ ~Democracy Now~ ~Democratic Underground~ ~Detournement~ ~Digital Rights [greek lang.]~ ~Diplomacy Lessons~ ~Direct Power!~ ~Discoveries-Researchings-Visions-Understandings-Enlightenments~ ~Disinformation~ ~DistributorCap NY~ ~Dr Hugo Heyrman-Motions of the Mind~ ~Dylanology~ ~EAGAINST~ ~Earthnocentric~ ~Eco Tort~ ~Ectoplasmosis!~ ~Educate Yourself~ ~E-Flux~ ~Electronic Frontier Foundation~ ~Electronic Intifada~ ~Eliminate War Forever~ ~End Evil~ ~Energy Bulletin~ ~Eradicating Ecocide~ ~EROCx1 Blog~
~Europeanrevolution~ ~European Revolution~ ~Eurozine~ ~Exposing the Truth~ ~Extinction Protocol: 2012 and beyond~ ~Families of the Fallen for Change~ ~Fellowship of Reconciliation~ ~Financial Armageddon~ ~FKN Newz~ ~Food For Your Eyes~ ~Forward the Revolution~ ~Franchot's Band~ ~Free Bloggers in Greece~ ~Free Expression Network~ ~Free Press International~ ~Freethinking for Dummies~ ~Free Thought Manifesto~ ~From the Wilderness~ ~F-t-W's Peak Oil Blog~ ~G1000~ ~Ghostdancing in Venice~ ~GIMP~ ~Gilles Duley~ ~Global Guerillas~ ~Global Integrity~ ~Global Policy Forum~ ~Global Revolution~ ~Global Security Institute~ ~Global Voices Online~ ~Gold Star Families for Peace~ ~Government Dirt~ ~Greek Alert [greek lang.]~ ~Greek Assembly in London~ ~Green Left Weekly~ ~Groklaw~ ~Hack Democracy~ ~Hakim Bey and Ontological Anarchy~ ~Hiroshima Peace Institute~ ~History Is A Weapon Blog~ ~How Appealing~ ~How To Vanish~ ~Human Rights Law Review~ ~I Can't Believe It's Not a Democracy!~ ~Idler~ ~Impropaganda~ ~Independent Media Center~ ~INIREF~ ~Institute for Media Peace and Security~ ~International Action Center~ ~International ANSWER (Act Now to Stop War and End Racism)~ ~In These Times~ ~Information Clearing House~ ~Information Liberation~ ~Infoshop~ ~Institute for Policy Studies~ ~Institute for War and Peace Reporting~ ~Insurgent American~ ~Intel Hub~ ~International Labor Rights Forum~ ~Intrinsic Impact~ ~Invisible History~ ~Iraq Citizens Against the War~ ~Iraq Freedom Congress~ ~Iraq Veterans Against the War~ ~Irish Peace Institute~ ~Issues and Alibis~ ~James Howard Kunstler~ ~Jesus Radicals~ ~John Zerzan~ ~Jorgen Schäfer's Homepage~ ~JUST~ ~Just For The Love Of It~ ~Justice Not Vengeance~ ~Kasama Project~ ~Keep Talking Greece~ ~Kia Mistilis~ ~Kill Me If You Can by Bob Miller~ ~Killer Coke~ ~Labor Rights~ ~Labor Rights Now~ ~Labour Start~ ~Lava Cocktail~ ~Lemon Gloria~ ~Lemony Snicket~ ~L'ennui mélodieux~ ~Lessig~ ~Liberation Theology~ ~Libertarians for Peace~ ~Life After the Oil Crash~ ~Life & Peace Institute~ ~Lunch Street Party~ ~Lycaeum~ ~Links by George~ ~Literary Kicks~ ~Lubinproductions~ ~MacNN~ ~Mad Cow Morning News~ ~Manageable Ants~ ~Mario Profaca's Cyberspace Station~ ~Maro Kouri~ ~Maud Newton~ ~May it Please the Court~ ~McSpotlight~ ~Medical Foundation for the Care of Victims of Torture~ ~Metta Center for Nonviolence~ ~Metanoia~ ~Michael Moore - Must Read~ ~Mind Control~ ~Military Families Speak Out~ ~Mind in Peace (greek)~ ~Miss Welby~ ~MK Gandhi Institute for Nonviolence~ ~Molly's Blog~ ~Mother Jones~ ~MungBeing Magazine~ ~MyAntiwar.org~ ~n +1 mag~ ~National War Tax Resistance Coordinating Committee~ ~Natural Farming~ ~Neatorama~ ~Neuromarketing~ ~Neurosecurity~ ~New Internationalist~ ~News Dissector~ ~News Frames~ ~News Making News~ ~News Now~ ~New Tactics in Human Rights~ ~New World Dawning~ ~NEXUS~ ~NFAK~ ~Nomadic Academy Of Fools~ ~Non Fides~ ~Noor Images~ ~Not In Our Name~ ~Not Stupid~ ~Nuclear Resister~ ~NUTOPIA2~ ~[Occupy] 2012 Scenario~ ~Occupy America Social Network~ ~OCCUPY Cafe~ ~Occupy Istanbul~ ~Occupy Together~ ~Occupy Together Field Manual~ ~OWS~ ~Occupy Writers~ ~October 2011~ ~Odious Debts~ ~ODYS~ ~Olmaz~ ~On the Path to 2012~ ~Op Ed News~ ~Open Letters to George W. Bush from his ardent admirer,Belacqua Jones~ ~Open Revolt!~ ~Open Source Ecology~ ~Orthodox Peace Fellowship~ ~Orwell Today~ ~Outlaw Journalism~ ~OWNI~ ~Patriots Question 9/11~ ~Peace in Mind (greek)~ ~PeaceJam~ ~Peace Now~ ~Peaceful Tomorrows~ ~Peak Moment~ ~People's Assemblies Network~ ~Peter Frase~ ~Photography is Not a Crime~ ~Picture the Homeless~ ~Pieman~ ~Places the U.S. has bombed~ ~Pogo Was Right - privacy news~ ~Political Reform.ie~ ~Post Carbon Institute~ ~Praxis Peace Institute~ ~Primate Poetics~ ~Prisoner Solidarity~ ~Professors question 9/11~ ~Project Camelot~ ~Project Censored~ ~Project for the Old American Century~ ~Project on Corporations, Law and Democracy~ ~Psyche, Science and Society~ ~Psychogeography~ ~Public Employees for Environmental Responsibility~ ~Radical Anthropology~ ~Rainbow Family~ ~RawStory~ ~Reality Sandwich~ ~Real Democacy GR~ ~Real Democracy Now.net~ ~Rebel Dog~ ~Reflections on a Revolution~ ~Reporters Without Borders~ ~Re-public~ ~Resistance Studies Magazine~ ~Resource Based Economy Foundation~ ~Re-volt Radio~ ~Richard Heinberg's Museletter~ ~Rockefeller's War on Drugs~ ~Ruckus Society~ ~Sacred Texts~ ~Salon~ ~Save Orphan Works~ ~Scholars and Rogues~ ~Scoop~ ~SCOTUS Blog~ ~Secrecy News~ ~Service Academy Graduates Against the War~ ~Shadow Government Statistics~ ~Signs of the Times News~ ~Slovenia Peace Institute~ ~Smirking Chimp~ ~smygo~ ~SNU Project~ ~Soil And Health Library~ ~SourceWatch~ ~Speaking Truth to Power~ ~Spirit Horse Foundation~ ~Spunk~ ~Squattastic~ ~Starhawk~ ~Stockholm International Peace Research Institute~ ~StopCartel TV-GR~ ~Stop The Arms Fair~ ~Stop the Spying.org~ ~Strangers in a Tangled Wilderness~ ~Students Against War~ ~Survival Acres~ ~Survival International~ ~Swan's Commentary~ ~Take The Square~ ~Tangible Information~ ~Tax Justice Network~ ~Tax Research UK~ ~Theatre of the Oppressed~ ~The Black Commentator~ ~The Black Vault~ ~The Borowitz Report~ ~The Carpetbagger Report~ ~The Center for Public Integrity~ ~The Daily Reckoning~ ~The Dark Age Blog~ ~The Digger Archives~ ~The End of Being~ ~The Guardian~ ~The Hidden Evil~ ~The Huffington Post~ ~The Intelligence Daily~ ~The Lazy Man's Guide To Enlightenment~ ~The Mountain Sentinel~ ~The Nation~ ~The National Security Archive~ ~The New Z-Land Project~ ~The Other Israel~ ~The Pathology Guy~ ~The Progress Report~ ~The Progressive Magazine~ ~The Real News~ ~The Situation Room~ ~The Truth Seeker~ ~ The Watcher Files~ ~Think Progress~ ~Third World Traveller~ ~This Land Is Ours~ ~This Modern World~ ~TomDispatch~ ~Total Collapse~ ~Total Dick-Head~ ~Transform!~ ~Transnational Institute~ ~Transnational Foundation for Peace and Future Research~ ~True Democracy~ ~Troops Out Now~ ~True Democracy Party~ ~Truthdig~ ~Truth News~ ~Truthout~ ~TW3 and fotografia la dolce vita~ ~Uncommon Thought~ ~United for Peace & Justice~ ~United States Institute of Peace~ ~Unknown News~ ~UNPA Campaign~ ~Urbanibalism~ ~US Labor Against the War~ ~VBS TV~ ~Veterans Against the Iraq War~ ~Veterans for Peace and Justice~ ~Video Rebel's Blog~ ~Vietnam Veterans Against the War~ ~Virusmyth - Rethinking AIDS~ ~visionOntv~ ~Voices for Creative Non-Violence~ ~Void Network~ ~Voice Memo~ ~Voters for Peace~ ~Waging Nonviolence~ ~Waking the Midnight Sun~ ~Want To Know~ ~War Costs~ ~War Crimes and Military Improprieties~ ~War Criminals Watch~ ~War on Society~ ~War is Illegal~ ~War Resisters International~ ~War Resisters League~ ~Was Jack Kerouac a Punjabi?~ ~Watergate Exposed~ ~West Point Graduates Against The War~ ~What Really Happened~ ~What’s On My Food?~ ~Why Work? Creating Livable Alternatives to Wage Slavery~ ~Wikileaks~ ~WikiLeaks Central~ ~Wild Wild Left~ ~willyloman~ ~Winning Cancer~ ~Win Without War~ ~Women's International League for Peace and Freedom (WILPF)~ ~Wonkette~ ~World Prout Assembly~ ~Worldwide Hippies~ ~Yes Lab~ ~Yippie Museum~ ~Young Protester~ ~Youth Against War and Racism (YAWR)~ ~Zapatistas~ ~Zine Library~ ~Zippy Elder-at-Large~ ~ZMag~
~ Thank you for visiting Circle of 13 ~

FAIR USE NOTICE

This blog may contain videos with copyrighted material the use of which has not always been specifically authorized by the copyright owner. We are making such material available in an effort to advance understanding of environmental, political, human rights, economic, democracy, scientific, and social justice issues, etc. We believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law. In accordance with Title 17 U.S.C. Section 107, the material on this site is distributed without profit to those who have expressed a prior interest in receiving the included information for research and educational purposes.