So, with that, one might notice I haven't written up anything on this barrage, this media black out on all things health care vote.
The reason is from what I can tell, if they do not pass it, we lose, if they do pass it, we lose.
All of this tells me is media is seriously controlled by a few, every day the headlines, everything is the "impending health care vote" and now for over a week.
And guess what, we're going to get yet another corporate driven bill, immmigration reform, which I fear will also tear this site apart and warning now, be very careful on what you site in this, I've seen a host of papers recently, including from Academia that have pure spin at the equation level (which makes me ill, one should not be trying to manipulate equations, it's on the level of manipulating a credit default swap!) ...
so anywho, guess what of course will be short changed? Financial reform.
The most critical need is financial reform and I'll bet dollars to donuts we see another Financial Armageddon actually fairly soon without it and that one, we will not be able to recover....
yet here we go, we're going to get into some sort of major war on immigration instead of getting the focus on Financial reform and then of course....can we get some damn jobs here?
and I agree with you on that comment and why I run around as the content police, trying to make sure everyone uses data, stats that are accurate, objective and one even needs to watch bogus papers coming from Academia on this score....
Why EP is supposed to be fact based because you are correct, there are certain political agendas going on, some from the right and some from the left that are based in economic fiction. So, why we're supposed to be an economics blog, finance, all things $$ and do a lot of research, from 1st principles to screen out those biased things, which are really promoted some agenda and facts be damned.
On outsourcing, you are correct, so I'll say they promoted offshore outsourcing, howz that?
I checked out the website and looked up some liiberrals and the money from lawyers to me was very interesting, so it wasn't all bad...
Also, another problem we have is with TV talking heads...so often you will get one segment, which you know is accurate and then 10 minutes later another story that's just pure bullshit.
Case in point is this claim Bart Gordon had his health care vote bought for a job at NASA. Well, the guy is chair of the House Science Committee and NASA has been under their purview forever as is DARPA. So, to me, it would make perfect sense he went to NASA after quitting Congress, or DARPA or any of these government funded science research institutions....because he has strong expertise in the area, so it's not to me, so much of a stretch...
nothing like taking a job on the board of JP Morgan Chase or going to Goldman Sachs or say Daschle's job as a health insurance lobbyist and so on.
Anyway, you're right and I appreciate the comment police and content policing. It's easy to be snowed!
These two complaints I'm about to make fall into the category of constructive criticism, so please try not to be too offended.
First, that maplight.org site: yes, all these new and newer sites are great, and like who can keep track of them anymore, but a number of them always seem to end up as simply diversionary (easily proven by tracking the updates, and their content, from sites such as firedoglake, et al., during this so-called "healthcare reform" surge) - not that I don't appreciate you mention of this site.
I strongly distrust this site as one of the board members is a Crown Fellow at that neocon startup "think tank" - the Aspen Institute (Holy Mother of God, I am sooooo tired of those clowns!!!).
Secondly, perhaps if you simply said "offshoring of jobs" as that is more widely and generally applicable -- when the multinationals are offshoring jobs to both their own foreign-based facilities, and to contracted-out factories, production and service facilities, that "outsourcing" term isn't always applicable, and probably confuses the issue for many (and it sounds stupid).
, that bipartisan coalition that caters to the less than 1% who control most everything and own the rest. Christy Fiorina is a failed executive who now mouths off as though she knows something. They're all interchangeable. They don't care. They don't have to.
ponzi scheme. The Fed was certainly not going to stop it. The examiner's report raises a lot of questions. It's highly likely that similar schemes were used at other financial conglomerates - its just that they didn't get caught or have to file for bankruptcy. If the Fed did know about it what are we going to do? Do we think that DOJ is actually going to do something about it?
The political establishment and financial oligarchy are attached at the hip. We have to break this relationship if we want real CHANGE.
It's everywhere. Just the other day someone who has tried to get labor arbitrage stopped for STEM (part of a union) was going off about how he is supposed to support, via work in the Democratic party, yet another tech executive who has decided to run for Congress. These are the very same people who offshore outsourced and insourced (guest worker Visas, manipulation of U.S. immigration system) to specifically displace U.S. STEM labor...
and their complete attitude, in fact their agenda is to do more of the same, and they spend tons of money trying to hide this agenda with various messaging/public relations spin. they even buy off a few researchers to write some very bogus "white papers".
So, that's the litter of candidates one gets to "choose" from.
Ridiculous.
and so it's like they believe, now that they have their millions, it's time to buy a seat in Congress.
If you look at the California races you have two of these, Carly "no American has a God given right to a job" Fiorina and just as bad, "let's offshore outsource the jobs to India" Meg Whitman.
Same in many other races. So, from the very ground on up, you get corruption and these sorts of relationships and connections.
Even when they get to Congress. Notice that Byron Dorgan is plain quitting. If there was anyone who should have been chair of the banking committee or assuredly have more power, it's that guy..
but no way, the committee chairs so often go to the most corrupt and personally vested interest in that particular topic area.
Connecticut knows this and they were not going to re-elect Dodd so the real question is why does he even have that chairmanship or why are bills even coming (or being stopped) in that committee when they could come from about 3 other ones to get financial reform passed.
My paradigm is that The Money Party runs everything. National entities are there to be used. When there's an intra party squabble, they have a war, but they make money on that. It's no conspiracy because anyone paying much attention figures it out sooner or later.
As for the power of the financial institutions and manipulators over nations, that would be a great case to make. Quantifying it is important. But there's Soros crashing currencies around the world and I'm sure others. Where would one start to qualitfy this?
I'm always amused when I hear people say, "Well, he's on his way out so he can write a strong bill." When has that ever happened? Dodd wanted out, so he fixed the bill for Wall Street and his wife. They have no shame because they feel fully justified, until they skulk into the dark corners of their minds. and in engage in some ritual humiliation.
I used to have sympathy for Dodd for having to see his father endure a scandal But this is far beyond any ethical problems his father had. He is Alexander to his father's Peter.
about corporations. But it is not "the left" who is cheering the passage of this Gift to the Medical Industrial Complex Bill: it is the corporate Dems.
I don't think it's a battle between the left and right any more. The Tea Baggers and I agree that this health care bill is bad -- only for way different reasons. Dennis Kucinich was dismissed tonight on Washington Week with Gwen Iffil as "so far to the left that he's with the right" (and I was reminded again why I can't bear to watch that "inside the beltway" corporate-sponsored show).
The fight is to take back our government from the corporations and the corporatists. Dennis Kucinich has it right on why the bill was so bad, it's a giant corporate giveaway designed by our corporate Dem president.
Of course the Dodd bill is a disaster, what else would you expect from a maggot of Dodd's description? The lot of them are maggots, whores, stem to stern, and all the big sis, Elizabeth Warrens in the world are simply background noise to the inexorable operation of their self-service apparatus. Yesterday, "progressives" felt they could rely on a "no" vote on insurance care from Dennis Kucinich, only to have Dennis pee on them from a rather short distance. And yet it is said that if we don't provide congressional salaries generous enough for them, we won't attract "quality" people to these jobs! Why their very focus on salaries ought to be diagnostic in helping the people to root out, detain and interrogate these bacteria.
Except to upset ourselves over them, I see no purpose whatsoever in examining the minutea of bills brought by the vermin in the United States Congress. Who is ever deceived by their content? Better to focus on the more promising possibility of a restoration both of our democracy and our economy and a future repleat with show-trials for these scum.
I attached the actual court decision document to this post.
Someone emailed me the actual decision and for those of you praying the Supreme court decides in Bloomberg's favor, this might give some insight as one must analyze decisions from the law and precedent (unless of course the Supremes feel like just making up a new one (sic)).
Sheila Bair, FDIC chair, points to back door bail out on rule 13 by the Fed, which supposedly Dodd will "plug up"...
now "plug up" so often is then buried, deep in legislative text some damn outrageous loophole which makes a clause in effective.
But looks like we'll have to read the bill eventually after all (the text itself, not the summaries).
we do have serious concerns about other sections of the Senate draft which seem to allow the potential for backdoor bailouts through the Federal Reserve Board's 13(3) authority. We will work closely with the Senate to make sure there are no loopholes around the carefully crafted resolution procedures.
We were talking about naked CDS on sovereign debt. Bloomberg has the latest on Greece making their payments and it sure does appear that naked CDSes are causing increased costs...
where have we seen this before? You're broke, need a break and wala, magically your credit card interest is now 29.9%.
BTW: If anyone wishes to take on global sovereign international debt "trading" games, whatever you do, make sure it's well cited and researched, but it looks like a good thing for EPers to learn more about.
we have hundreds, literally, of posts on EP explaining derivatives. I need to do a huge overview piece with all of the references. That's the problem, even people who have a lot of knowledge, skills in finance and economics have a hard time keeping it all straight and comprehensible.
It's a little like saying banks provide an incentive for bank robbers by holding money on the premises. So in the end, no one is at fault! Every time I hear Geithner talk about how it's really too bad but we had to do it -- yeah, there's a mess but we are all to blame.
A special interest group called the Federal Reserve left their fingerprints all over it.
Frank T.
I always download the monthly reports and put them on EP as links and attachments after I found those are hard to find as an archive and in some cases, even the raw data, in excel form was hard to locate, so the entire press release is attached. Graph 2 has the yearly to the month date CPI-U in the attached report.
Consider the Must reads series open threads.
So, with that, one might notice I haven't written up anything on this barrage, this media black out on all things health care vote.
The reason is from what I can tell, if they do not pass it, we lose, if they do pass it, we lose.
All of this tells me is media is seriously controlled by a few, every day the headlines, everything is the "impending health care vote" and now for over a week.
And guess what, we're going to get yet another corporate driven bill, immmigration reform, which I fear will also tear this site apart and warning now, be very careful on what you site in this, I've seen a host of papers recently, including from Academia that have pure spin at the equation level (which makes me ill, one should not be trying to manipulate equations, it's on the level of manipulating a credit default swap!) ...
so anywho, guess what of course will be short changed? Financial reform.
The most critical need is financial reform and I'll bet dollars to donuts we see another Financial Armageddon actually fairly soon without it and that one, we will not be able to recover....
yet here we go, we're going to get into some sort of major war on immigration instead of getting the focus on Financial reform and then of course....can we get some damn jobs here?
Man.
Then how in the hell were hundreds of us bloggers speaking about this years ago? And the Federal Reserve didn't know?
It's so routine that it's going unnoticed.
and I agree with you on that comment and why I run around as the content police, trying to make sure everyone uses data, stats that are accurate, objective and one even needs to watch bogus papers coming from Academia on this score....
Why EP is supposed to be fact based because you are correct, there are certain political agendas going on, some from the right and some from the left that are based in economic fiction. So, why we're supposed to be an economics blog, finance, all things $$ and do a lot of research, from 1st principles to screen out those biased things, which are really promoted some agenda and facts be damned.
On outsourcing, you are correct, so I'll say they promoted offshore outsourcing, howz that?
I checked out the website and looked up some liiberrals and the money from lawyers to me was very interesting, so it wasn't all bad...
Also, another problem we have is with TV talking heads...so often you will get one segment, which you know is accurate and then 10 minutes later another story that's just pure bullshit.
Case in point is this claim Bart Gordon had his health care vote bought for a job at NASA. Well, the guy is chair of the House Science Committee and NASA has been under their purview forever as is DARPA. So, to me, it would make perfect sense he went to NASA after quitting Congress, or DARPA or any of these government funded science research institutions....because he has strong expertise in the area, so it's not to me, so much of a stretch...
nothing like taking a job on the board of JP Morgan Chase or going to Goldman Sachs or say Daschle's job as a health insurance lobbyist and so on.
Anyway, you're right and I appreciate the comment police and content policing. It's easy to be snowed!
These two complaints I'm about to make fall into the category of constructive criticism, so please try not to be too offended.
First, that maplight.org site: yes, all these new and newer sites are great, and like who can keep track of them anymore, but a number of them always seem to end up as simply diversionary (easily proven by tracking the updates, and their content, from sites such as firedoglake, et al., during this so-called "healthcare reform" surge) - not that I don't appreciate you mention of this site.
I strongly distrust this site as one of the board members is a Crown Fellow at that neocon startup "think tank" - the Aspen Institute (Holy Mother of God, I am sooooo tired of those clowns!!!).
Secondly, perhaps if you simply said "offshoring of jobs" as that is more widely and generally applicable -- when the multinationals are offshoring jobs to both their own foreign-based facilities, and to contracted-out factories, production and service facilities, that "outsourcing" term isn't always applicable, and probably confuses the issue for many (and it sounds stupid).
Colossally great post, Mr. Michael C.
and the survival of working class families depends on severing the ties between The Money Party and the oligarchy.
RebelCapitalist.com - Financial Information for the Rest of Us.
But who are the constituents. It's
The Money Party
, that bipartisan coalition that caters to the less than 1% who control most everything and own the rest. Christy Fiorina is a failed executive who now mouths off as though she knows something. They're all interchangeable. They don't care. They don't have to.
ponzi scheme. The Fed was certainly not going to stop it. The examiner's report raises a lot of questions. It's highly likely that similar schemes were used at other financial conglomerates - its just that they didn't get caught or have to file for bankruptcy. If the Fed did know about it what are we going to do? Do we think that DOJ is actually going to do something about it?
The political establishment and financial oligarchy are attached at the hip. We have to break this relationship if we want real CHANGE.
RebelCapitalist.com - Financial Information for the Rest of Us.
maplight.org.
It's everywhere. Just the other day someone who has tried to get labor arbitrage stopped for STEM (part of a union) was going off about how he is supposed to support, via work in the Democratic party, yet another tech executive who has decided to run for Congress. These are the very same people who offshore outsourced and insourced (guest worker Visas, manipulation of U.S. immigration system) to specifically displace U.S. STEM labor...
and their complete attitude, in fact their agenda is to do more of the same, and they spend tons of money trying to hide this agenda with various messaging/public relations spin. they even buy off a few researchers to write some very bogus "white papers".
So, that's the litter of candidates one gets to "choose" from.
Ridiculous.
and so it's like they believe, now that they have their millions, it's time to buy a seat in Congress.
If you look at the California races you have two of these, Carly "no American has a God given right to a job" Fiorina and just as bad, "let's offshore outsource the jobs to India" Meg Whitman.
Same in many other races. So, from the very ground on up, you get corruption and these sorts of relationships and connections.
Even when they get to Congress. Notice that Byron Dorgan is plain quitting. If there was anyone who should have been chair of the banking committee or assuredly have more power, it's that guy..
but no way, the committee chairs so often go to the most corrupt and personally vested interest in that particular topic area.
Connecticut knows this and they were not going to re-elect Dodd so the real question is why does he even have that chairmanship or why are bills even coming (or being stopped) in that committee when they could come from about 3 other ones to get financial reform passed.
My paradigm is that The Money Party runs everything. National entities are there to be used. When there's an intra party squabble, they have a war, but they make money on that. It's no conspiracy because anyone paying much attention figures it out sooner or later.
As for the power of the financial institutions and manipulators over nations, that would be a great case to make. Quantifying it is important. But there's Soros crashing currencies around the world and I'm sure others. Where would one start to qualitfy this?
I'm always amused when I hear people say, "Well, he's on his way out so he can write a strong bill." When has that ever happened? Dodd wanted out, so he fixed the bill for Wall Street and his wife. They have no shame because they feel fully justified, until they skulk into the dark corners of their minds. and in engage in some ritual humiliation.
I used to have sympathy for Dodd for having to see his father endure a scandal But this is far beyond any ethical problems his father had. He is Alexander to his father's Peter.
about corporations. But it is not "the left" who is cheering the passage of this Gift to the Medical Industrial Complex Bill: it is the corporate Dems.
I don't think it's a battle between the left and right any more. The Tea Baggers and I agree that this health care bill is bad -- only for way different reasons. Dennis Kucinich was dismissed tonight on Washington Week with Gwen Iffil as "so far to the left that he's with the right" (and I was reminded again why I can't bear to watch that "inside the beltway" corporate-sponsored show).
The fight is to take back our government from the corporations and the corporatists. Dennis Kucinich has it right on why the bill was so bad, it's a giant corporate giveaway designed by our corporate Dem president.
Of course the Dodd bill is a disaster, what else would you expect from a maggot of Dodd's description? The lot of them are maggots, whores, stem to stern, and all the big sis, Elizabeth Warrens in the world are simply background noise to the inexorable operation of their self-service apparatus. Yesterday, "progressives" felt they could rely on a "no" vote on insurance care from Dennis Kucinich, only to have Dennis pee on them from a rather short distance. And yet it is said that if we don't provide congressional salaries generous enough for them, we won't attract "quality" people to these jobs! Why their very focus on salaries ought to be diagnostic in helping the people to root out, detain and interrogate these bacteria.
Except to upset ourselves over them, I see no purpose whatsoever in examining the minutea of bills brought by the vermin in the United States Congress. Who is ever deceived by their content? Better to focus on the more promising possibility of a restoration both of our democracy and our economy and a future repleat with show-trials for these scum.
I attached the actual court decision document to this post.
Someone emailed me the actual decision and for those of you praying the Supreme court decides in Bloomberg's favor, this might give some insight as one must analyze decisions from the law and precedent (unless of course the Supremes feel like just making up a new one (sic)).
Sheila Bair, FDIC chair, points to back door bail out on rule 13 by the Fed, which supposedly Dodd will "plug up"...
now "plug up" so often is then buried, deep in legislative text some damn outrageous loophole which makes a clause in effective.
But looks like we'll have to read the bill eventually after all (the text itself, not the summaries).
Here is the actual Bair Speech
We were talking about naked CDS on sovereign debt. Bloomberg has the latest on Greece making their payments and it sure does appear that naked CDSes are causing increased costs...
where have we seen this before? You're broke, need a break and wala, magically your credit card interest is now 29.9%.
BTW: If anyone wishes to take on global sovereign international debt "trading" games, whatever you do, make sure it's well cited and researched, but it looks like a good thing for EPers to learn more about.
we have hundreds, literally, of posts on EP explaining derivatives. I need to do a huge overview piece with all of the references. That's the problem, even people who have a lot of knowledge, skills in finance and economics have a hard time keeping it all straight and comprehensible.
Knowing the recent Supreme court rulings who wants to bet the Federal reserve doesn't have to disclose who got $2 trillion in loans?
I'll bet the ruling is 6-3 in favor of the Fed.
Still good for the court of Appeals!
It's a little like saying banks provide an incentive for bank robbers by holding money on the premises. So in the end, no one is at fault! Every time I hear Geithner talk about how it's really too bad but we had to do it -- yeah, there's a mess but we are all to blame.
A special interest group called the Federal Reserve left their fingerprints all over it.
Frank T.
I always download the monthly reports and put them on EP as links and attachments after I found those are hard to find as an archive and in some cases, even the raw data, in excel form was hard to locate, so the entire press release is attached. Graph 2 has the yearly to the month date CPI-U in the attached report.
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