Friday, February 13, 2009
Tuesday, February 10, 2009
From Naked Capitalism (read the whole article):
The Obama Administration is as obviously and fully hostage to the interests of the financial services industry as the Bush crowd was. We have no new thinking, no willingness to take measures that are completely defensible (in fact not doing them takes some creative positioning) like wiping out shareholders at obviously dud banks (Citi is top of the list), forcing bondholder haircuts and/or equity swaps, replacing management, writing off and/or restructuring bad loans, and deciding whether and how to reorganize and restructure the company. Instead, the banks are now getting the AIG treatment: every demand is being met, no tough questions asked, no probing of the accounts (or more important, the accounting).We should of been rioting a long time ago!!
Monday, February 9, 2009
Sunday, February 8, 2009
scratchboard art by William Schaff
Last summer, when the Blacks were rioting—the riots, actually they weren’t riots in the first place; they were reactions against police brutality.2 And when the Afro-Americans reacted against the brutal measures that were executed against them by the police, the press all over the world projected them as rioters. When the store windows were broken in the Black community, immediately it was made to appear that this was being done not by people who were reacting over civil rights violations, but they gave the impression that these were hoodlums, vagrants, criminals....
And when you see the Blacks react, since the people who do this aren’t there, they react against their property. The property is the only thing that’s there. And they destroy it. And you get the impression over here that because they are destroying the property where they live, that they are destroying their own property. No. They can’t get to the man, so they get at what he owns.
Read the entire speech here.