Posts Tagged ‘stock scandal’

BEAT GOES ON, ROME BURNS

October 22, 2009

While Rome Burns

Take Action on Oct. 24: Join One of the Largest Global Protests in the Fight Against Climate Change by Tim Kingston, AlterNet.

On Oct. 24, tens of thousands of people will be in the streets and on mountains, rivers and glaciers around the world demanding action to reduce CO2 emissions.

What started out a couple of years ago as a idea promoted by author/climate-change activist Bill McKibben and a few students at Vermont’s Middlebury College has morphed into the biggest environmental, and possibly the most extensive worldwide protest, ever.

On Oct. 24, tens of thousands of people will be in the streets and on mountains, rivers and glaciers around the world demanding action to reduce CO2 emissions to 350 parts per million (ppm).

With just five days to go, 3,422 events are planned or under way in 160 nations on every continent, including Antarctica. More are coming online daily at 350.org, a small (seven staffers) organization based in Berkeley, Calif., that is coordinating the international day of action.

Organizers of the event are targeting the United Nations Climate Change conference in Copenhagen, Denmark, in December. They hope the international day of action will apply pressure on the assembled heads of state and governments to reduce global greenhouse gas CO2 emissions to below 350 ppm, the number that scientists say is the safe upper limit for carbon dioxide in the atmosphere.  READ MORE:

http://www.alternet.org/action/143365/take_action_on_oct._24%3A_join_one_of_the_largest_global_protests_in_the_fight_against_climate_change

Sen. Al Franken (D-MN) Humbles Hudson Institute Dilettante Over Health Care Bankruptcies AlterNet.

Franken drove home the point that medical bankruptcies are unheard of in countries with viable heath care systems.

http://www.alternet.org/blogs/video/#143452

Dept of Homeland Security Expands Controversial Program Empowering Local Police By Amy Goodman, Democracy Now!

The 287(g) program gives local law enforcement authority to enforce federal immigration laws, which has led to accusations of racial profiling.

AMY GOODMAN: The immigration debate is heating up on Capitol Hill, and the Department of Homeland Security said Friday it plans to enter into new agreements with sixty-seven state and local law enforcement agencies. These agreements expand the existing 287(g) program, which delegates some federal immigration enforcement authority to certain state and local agencies. The announcement comes shortly after DHS released a report on immigrant detention noting the vast majority of those detained under the 287(g) agreements were never charged with a criminal offense. The 287(g) program has come under intense criticism in recent months from over 500 organizations, including the ACLU, the Congressional Hispanic Caucus, calling on the government to end the program. Many of the agencies involved have been accused of racial profiling, and the Maricopa County Sheriff, Joe Arpaio in Phoenix, Arizona, is being investigated by the Justice Department.

On Friday the Immigration and Customs Enforcement agency, known as ICE, said it would go forward with a new jails agreement with Sheriff Arpaio but remove his field authority to enforce federal immigration laws on the street. Well, that didn’t stop the Sheriff, and he conducted his twelfth so-called immigration sweep Friday, arresting some sixty people. The Sheriff defended his stance on Fox’s Glenn Beck Show earlier last week.  READ MORE:

http://www.alternet.org/immigration/143372/dept_of_homeland_security_expands_controversial_program_empowering_local_police

The Battle Against Letting Wall Street Continue to Make a Killing on Derivatives By Art Levine, AlterNet.

Protections for consumers and Wall Street’s skullduggery are at stake in an obscure series of hearings going on in Congress right now.

Early in the morning, outside the House Financial Services Committee hearing room in the Rayburn office building last week, there were scruffy ex-homeless and other low-income folks, wearing their dreadlocks or sloppy jeans, mixed in with the pinstriped reps for the financial industry.

 They all seemed to be lining up to see what $223 million in financial lobbying in the first six months of this year could buy in thwarting real reform on Capitol Hill. And they were hoping to get the few dozen of the public seats available inside the room, for a critical 10 a.m. hearing marking up a bill that was supposed to regulate the now-private market in complex “derivatives.”

Those derivatives are nominally worth at least $450 trillion worldwide, with $555 billion in credit at risk in the U.S. banking industry. (Derivatives are forms of insurance or bets on underlying assets, such as now-toxic subprime mortgages, supposedly designed to manage risk.) No wonder Warren Buffett called them “financial weapons of mass destruction.”  READ MORE:

http://www.alternet.org/workplace/143407/the_battle_against_letting_wall_street_continue_to_make_a_killing_on_derivative

This Year’s Biggest Hoax Is Tim Geithner’s ‘Solution’ for the Economy, Not the Balloon Boy By Robert Scheer, Truthdig.

If we could get one of the banking lobbyists to float a duct-taped flying saucer balloon, Wolf Blitzer might cover the real hoax.

Who are these people? I am not referring to the pathetic parents of “Balloon Boy,” whose fake drama I have been unable to escape while on the treadmill this week, thanks to my gym’s insistence on tuning its flat-screen TVs to Wolf Blitzer’s nonstop self-parody.

The Colorado incident was significant only in the tawdriness of those who perpetrated the made-for-TV scam and their allies in the mindless media who covered this sham “reality” so relentlessly. But even so, it was enough to push aside most consideration of the true hoax reported last week with far less fervor: the obscene rewards that Wall Street bankers bestowed upon themselves for ripping off our economy.

The people I want to know more about are the superrich who expect to be rewarded for their failures, like the folks at Goldman Sachs who will receive $16.71 billion in bonuses—an average of $530,000 per employee—this year after their company did as much as any to bring the world economy to the brink of disaster.

“The Guys from Government Sachs” is what The New York Times once called them in recognition of their chokehold on the federal government. Their power is marked by the two treasury secretaries who led the fight to legally enable and then reward Wall Street for its obscene excesses. Why wasn’t there a CNN stakeout at the homes of former Goldman-execs-turned-treasury-chiefs Robert Rubin and Henry Paulson aimed at finding out how they feel about the almost $7 billion profit that Goldman Sachs made in the last two quarters in the wake of the government’s bailout of the firm?

http://www.alternet.org/media/143433/this_year%27s_biggest_hoax_is_tim_geithner%27s_%27solution%27_for_the_economy%2C_not_the_balloon_boy

gonefishin'

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