Archive for the 'corporatocracy' Category



24
Mar
09

I Loathe Congresspeople

I do. When I see their puckered faces ripe with false indignation and staunch certitude, my blood pressure ticks a few points higher and I need a “calgon” moment.

Chris Dodd denied his efforts allowed the AIG fuckers to receive bonuses. David Vitter was traipsing around with women of the night whilst calling for Clinton’s removal from office. Diane Feinstien played patty-cake with W. over war funding because her husband is a defense contractor. Reid is a spineless, ineffective “leader” that just won’t go away – much like a canker sore. Lieberman – well, the reason for his position among the Capitol Hill jackasses is obvious. Spector is basing his EFCA vote on his 2010 poll numbers. McConnell wakes up on the wrong side of the decision-making bed every day. Chambliss has the ethical fiber of rice paper. I can’t even stand the senators from my own state – Cornyn and Hutchinson, who provided the lube as Bush dragged this country down a hellhole. I could go on and on.

Especially about House members, like Bachmann, who envisions a redneck autocracy (much like the one we were headed for under W.) as the perfect governmental establishment. Cantor aping outrage over AIG bonuses despite taking their campaign contributions. All the blowhards on the Financial Services Committee using their session with Tim Geithner for some pithy grandstanding. It’s sickening.

When I see Congresspeople giving interviews on the cable news channels, most of the time I see people issuing rote answers that don’t progress this country and don’t piss off their campaign contributors. The legislative branch has become an aider and abettor to the Corporatocracy of America with little to no consideration for the good of the people – only good of their reelection chances or ability to earn oodles in the private industry after whoring out all their favors on the Hill.

The vast majority of these people are as beneficial to the state of the union as a tapeworm. The quality of our government is in dire need of term limits, so we might have a chance of electing people who mean what they say – not simply spewing lies and ideology. And maybe then I won’t feel the need to hurl everytime I watch an interview with some lying bastard congressperson.

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23
Mar
09

AIG Bonus Pay – Focus Anger Productively

Ichiwawa!! Short-story version: Those useless waste-of-spaces up at AIG figured out a way to make themselves rich by basically selling thin air and are now being rewarded for their b-to-the-ullshit as the rest of the world watches their savings tank faster than a single girl’s sobriety at a gay bar.

Am I mad? Yer damn right I’m mad!

BUT, demanding the bonuses be taken back or creating some Terri Schiavo-esqe tax legislation to swat these sonsabitches’ testicles will not solve one iota of the problem that created this hellacious economic debacle. In fact, these demands are distracting from addressing the real issue – lack of regulation. And lemme tell you, the free marketeers are hoping this “populist tantrum” will do just that – create a huge spectacle refocusing Congress’ efforts away from bringing back appropriate regulation that would have prevented this mess in the first cotton-pickin’ place.

Derivatives once again need to be outawed – as they were back in the early 20th century. Phil Gramm and his little butt buddies in Congress brought forward legislation back in late 1999 – that Bill Clinton signed – deregulating derivatives. And these AIG jackasses sold them. Allowing someone to basically buy “insurance” that a company, such as Overstock.com, will go out of business when the purchaser has no interest in the company whatsoever makes absolutely no sense. It is legalized, unregulated gambling – especially when AIG claims falsely they could back this insurance. (If you need to learn more about derivatives, watch this 60 Minutes program.)

Why were they allowed to get away with this? Because the free-marketeers, “capitalism in its purist form is the best way to run the economy” peeps erased any power by the government to regulate or monitor these new “products” on the Wall Street Market.

Now, I don’t know about you – but I haven’t heard one word from Obama or Geithner regarding reinstating these market regulations. I haven’t heard Barney Frank or Chris Dodd or any of the main players “outraged” about the AIG bonuses calling for new legislation that would focus directly on these bubble schemes the idiots on Wall Street erected.

This is the moment, rife with public anger, to enact these regulations that will prevent the further shredding of our capitalist strength. A completely unfettered free market allows the know-hows to screw over the rest of us and bring everybody and their cousin down the toilet with them. We need these regulations. Without them, this Corporatocracy of America will continue to allow big biz to shit all over everyone who doesn’t have their hand in the pot.

So, tomorrow, when Bernanke and Geithner go before Congress, we need less talk about these AIG bonuses – they’re just red herrings – and more talk about the detriments of derivatives and short selling.

13
Mar
09

Rick Perry: Big Business Bitch

Rick Perry is by far one of the worst governors Texas has every seen for a myriad of reasons.

And now, by rejecting part of the federal stimulus money, Perry proves once again that he is ankle grabber prostrating himself ass-up to the wishes of big business. Who cares if the Texas unemployment fund could be operating at a deficit later this year?! Just like all these other no-solution right-wingers, he cares more for his electoral prospects than helping Texans through tough times.

Perry has never considered the interests of Texans over his own relations with big biz, whether its helping to fast-track the building of coal plants ahead of new environmental regulations or attempting to issue an executive order requiring the vaccination of pubescent girls with Gardasil – a medicine proven to have serious side effects in many recipients and made by a company who has given Perry money.

The man’s overdue for some “Texas Justice” and I’m not just talking about branding his ass (though, that’s worth considering as well).

I’m tempted to vote in the Republican primary next year for Kay Bailey Hutchinson even though I would never vote for her in the gubernatorial election – I just want Rick Perry out and I don’t have confidence in the intelligence of Texas voters to wake the hell up. Of course, voting against a candidate instead of for another violates my unwritten code of ethics, as does voting for douchebags. And there is hope – with Harris Country going blue in the last election, it’s a start.

23
Feb
09

Best Videos From Last Week 2.23.09: Fox’s Right Wing Agenda, Concentration of Wealth, Regulation

There was some good TV happening last week, here’s what I found notable (hint – read the stuff at the bottom. really):

  • With more and more voters edging toward the left or moderate (and, ahem, away from the Radical Religioner Party), Fox is having a harder time hiding their right wing agenda. CNN’s Howard Kurtz catches the latest Oh No, They Didn’t! moment on Fox.
  • MOST WORTH WATCHING: I very much appreciated this 20 minute clip of Dr. Zbigniew Brzezinski on Morning Joe as he discusses the concentration of wealth over the last few years. It is important for the public to understand that Republican policies enable the top few to get richer off the backs of the lower masses and unless we want the government to determine labor costs (we don’t), it is up to the public themselves to deflate the culture of extreme corporate wealth. Watch the video.
  • CLASSIC GO GET ‘EM! CLIP: Lansing Mayor Virg Bernero goes off on Fox over the suggestion that laborers have to shoulder the burden when companies lose competitiveness (many times due to executive decisions). Lots of talking over each other, which is annoying and Bernero obviously had an agenda when he went on the show, but still…it’s a good clip.
  • Repubs are already lining up their big guns against the upcoming attempts at health care reform. Some of the guns are not new and this one in particular, Betsey McCaughey, is having a clear problem locating the truth. Warning: it’s a Keith Olbermann clip, so if you don’t like him…watch the clip anyway.
  • IF YOU HAVE ITUNES: Dan Rather Reports aired an excellent program on the housing crisis with an even more excellent interview with TARP watchdog Elizabeth Warren. She is one of the few honest heroes of the Wall Street bailout. If you don’t have Itunes, you can get the transcript at the bottom of this page – I recommend the PDF version because the online version has formatting issues. Here are some highlights from the interview that are extremely worth a read:
    • RATHER
      Well, you’ve written– a great deal about family economics and the middle class. Are we in danger of– for all intents and purposes– losing the middle class? Or is that too much of a fear?
      WARREN
      No, I think that’s the real fear. So, here’s the– here’s what’s happened over a generation. Somebody out working 40 hours a week is making less than he was making 30 years ago. Household income has gone up a little. How? Because we put the second earner to work– if she could do it. But that has now flattened out. There’s no one else to put to work. We’ve put to work as many moms as we can possibly do. So, where we stand now is income has flattened out again. But core expenses; housing, health insurance, transportation, child care and taxes, because they’ve got these two salaries, have all gone up. And that’s left the basic family with less money than they used to have a generation ago. So, then we hit the skids of this recession. The bottom falls out of the housing market. They can’t tap home equity. These crazy mortgages for many of them are forcing their expenses up. They’re losing jobs. And that means we have not a few people, we have literally tens of millions of Americans, hard-working, play-by-the-rules, middle class people; people who got decent educations, people who got decent jobs, people who got married, moved out, bought houses, the backbone of what we are as America, those people are now hanging on by their fingernails.
    • RATHER
      If we lose the middle economic class do we have an America approaching anything what we’ve known in my lifetime and yours and our father and mother’s lifetime?
      WARREN
      No. It’s a different America. It becomes a two-class America. It may actually have a larger upper class. You know, maybe– maybe that moves to ten percent of the population who really do quite well. You know, the kids; you can send the kids to college with no debt and they graduate with no debt. They do fine. Nobody gets sick. You know, that’s the group that works. And then what we have is a big underclass. It’s folks who just live basically paycheck to paycheck. If– if you can hang on, if you don’t get a layoff or a cutback in hours
      RATHER
      Or you don’t get very ill?
      WARREN
      If– and one of the kids doesn’t get sick, if grandma doesn’t fall and break a hip, if you don’t get divorced or have a death in the family, you might be able to skirt through. But if anything goes wrong, you’re living one pink slip, one bad diagnosis away from complete financial collapse.
    • RATHER
      You did a special report on regulation. Take us back quickly over the last 25 years. What’s happened to regulation or supposed to have happened to regulation.
      WARREN
      So– so, here’s one way to look at it. In 1792 our young republic, George Washington is president, hits its first economic crisis. And credit markets freeze. Does this sound familiar?
      RATHER
      Yes, it does.
      WARREN
      And– it almost brings the country to its knees. And here’s what happens. About every 15 to 20 years we have another crisis. We call them panics. We have different names for them.
      RATHER
      Depression?
      WARREN
      Depression. But they happen about every 15 to 20 years for 140 years. The pattern is just unmistakable. Then we hit the Great Depression. And coming out of the Great Depression we put three new regulations in place; Glass Stiegel, which divides our community banks basically from the Wall Street investment banks, FDIC insurance, put money in the bank and know that it’s safe and some SEC regulations so you can invest on Wall Street and they can’t cheat you too directly. That’s what we put in place. For 50 years we have no bank failures, no major crises. It works. Now, there’s innovation. There’s change. It’s time to change regulations. It gets to be the early 1980s. And what do we do? Instead of saying new products, we need to change regulations to adapt, we take a different path. We say–
      RATHER
      We let banks to go in the insurance business and vice versa?
      WARREN
      Let’s deregulate. That’s exactly right. We begin to break down the old regulations. We say, “Who needs regulations? They’re so pokey. So old.” So, we go with this idea of let’s get rid of regulation and what happens? Late 1980s, savings and loan crisis should’ve been a warning. Late 1990s, remember long term capital management, hedge fund? Should’ve been a warning. But we let it go. Early 2000s, Enron, bad books, not telling the truth. Should’ve  been a warning. But we let it go. And where do we end up? In the biggest crisis since the– Great Depression. Markets are wonderful. They produce great wealth for us. But they are by their very nature something we call pro-cyclical. When they’re going up, they chase themselves up. Hey, wow, it’s doin’ great! Up they go. And when the go down, they chase themselves down. And they go lower than actual supply and demand would suggest. Now look, we can live in a world all ups and downs for the rest of our lives. We can say, “Who needs regulation? Let’s just ride that roller coaster wherever it goes.” But, you know, we have to remember when it goes down, it doesn’t just take down the people who gambled. It doesn’t just take down the people who invested on Wall Street. It takes down everybody who’s got a pension. It takes down folks who have jobs in construction industries and– and other industries that get hit by this. It takes down– in this case, it takes down homeowners, people who thought they were doing the right thing to protect themselves for the future. It takes down the prudent along with the gamblers and the wild ones.
      RATHER
      Which is where we are today?
      WARREN
      Which is exactly where we are today. So, we could say, “Hey, no more regulation. That’s fine.” But look what it’s brought us. We are not willing to let these big financial institutions fail. We’ve got this too big to fail notion. So we are going to shovel billions of dollars in their direction and still take the position we shouldn’t regulate them? I– this is a world that may be a lot of fun for
      the high flyers who get theirs and keep theirs. But it’s not a world that works very well for ordinary families.
09
Feb
09

Obama on CEO Pay in 2006

A commenter on the HuffPo who must have been in hibernation the last few years wrote snidely when someone complained of CEO pay that no one cared about the exorbitant amount until the recent ridiculous spending in light of the taxpayer bailout.

Obviously, this commenter lives in an alternate reality. Or they go to one of those “prosperity gospel” churches who forget baby jesus didn’t like the rich and tell all their peeps that god wants them to drive Escalades and live in mini-manses, so they need to tithe regularly to get them.

I’ve long had a problem with CEO ever since. In 2005, I worked for the printing arm of an insurance company whose CEO made above 20 mill a year and had a private jet while the peeps who worked on the printing floor made around 7 bucks, received no sick leave and couldn’t afford the crippling fees for the company-offered health insurance for themselves or their children. Funny how a health insurance company couldn’t afford cheaper health insurance for their own employees – yet the CEO and the good ol’ white boys at the top were making out like bandits.

And remember the deserved hoopla over the $28 million paycheck Alan Mulally received after heading up Ford for only 4 months? Yeah. Stratospheric CEO pay had been a problem for quite a long white.

In fact, Obama wrote a few words regarding the subject in his last book The Audacity of Hope, which was released in 2006. In light of the new CEO pay restrictions, which – surprise, surprise, – some Big Business bitch Republicans have come out against, I thought it apropos to highlight Obama’s opinion on the issue before the economy took a nose-dive.

In 1980, the average CEO made fort-two times what an average hourly worker took home. By 2005, the ratio was 262 to 1. Conservative outlets like the Wall Street Journal editorial page try to justify outlandish salaries and stock options as necessary to attract top talent, and suggest that the economy actually performs better when America’s corporate leaders are fat and happy. But the explosion in CEO pay has had little to do with improved performance. In fact, some of the country’s most highly compensated CEOs over the past decade have presided over huge drops in earnings, losses in shareholder value, massive layoffs, and the underfunding of their workers’ pension funds.

What accounts for the change in CEO pay is not any market imperative. It’s cultural. At a time when average workers are experiencing little or no income growth, many of America’s CEOs have lost any sense of shame about grabbing whatever their pliant, handpicked corporate boards will allow. Americans understand the damage such an ethic of greed has on our collective lives; in a recent survey, they ranked corruption in government and business, and greed an materialism, as two of the three most important moral challenges facing the nation (“raising kids with the right values” ranked first). Conservatives may be right when they argue that the government should not try to determine executive pay packages. But conservatives should at least be willing to speak out against unseemly behavior in corporate boardroom with the same moral force, the same sense of outrage, that they direct against dirty rap lyrics.

Trickle-down wealth is a myth. The top economic class hoard the wealth, grow the poverty class and weaken the middle class – which weakens the economy. Our country needs to reevaulate whether we’re willing to allow the wealthy to take the rest of us for a ride. Obviously, I vote no.

And isn’t it nice to have a president a bit of common sense? Like a breath of fresh air.

19
Jan
09

With Less Than 24 Hours to Go, I Say NEVER AGAIN

With just one day to go all I can say is I never thought this day would come. This is my long accounting of George W. Bush and that which he wrought upon our nation. It’s not a full catharsis, but merely the start so that we may say Never Again.

2000 Election – My Confessional

I can remember exactly where I was the moment the news stations called the 2000 election for Bush. On a treadmill in Perth, Australia. Everyone in the gym looked in my direction to see what the lone American thought of her next president. Mind you, this was before the news stations realized they had committed the media blunder of the century and we’d have to wait for characters like Katherine Harris and hanging chads to become famous before the Supreme Court decided who our next president was.

Having recently graduated college and, thus, deciding to party like a rock star, I was too clueless to get my act together and send in an absentee ballot to participate in the election. It’s the only one I’ve missed and will carry the shame until dementia erodes my cognitive abilities. I would have voted for Bush, though. Gore was such a lame douchebag (not to mention Lieberman) and I had yet to fully shed the Republican shackles of my youth. Hell,as a University of Texas student, Bush had been my neighbor. No one knew the gravity of the election and most people I knew were eager to see our governor succeed.

During the campaign, Bush kept saying the U.S. had to stop being the world’s policeman and scale back our military entanglements around the globe. Having recently studied the Vietnam War, international diplomacy, nuclear weapons policy and the fall of the Soviet Union – his rhetoric hit home with me. How was I to know he’d do a 180 once he had his finger over the red button?

This was before the convenient days of Google and Wikipedia. And I was clinging to the bubble of youthful ignorance with full force, which meant I did not research W’s history. I did not discover that he was an utterly failed businessman who had skated through early adulthood like many rich kids on his daddy’s name without forging a worthy identity or principle. I did not know the man was a hollow shell with only a pre-determined ideology and a daddy complex to steer decisions that would determine the fate of millions.

2004 – Was Bush Sent to Make this Nation Atone for Sins of its Past?

By 2004, it was glaringly apparent that Bush was incapable of the necessary consideration and deliberation to benefit this country or any other. In the primaries, I voted for Wes Clark, thinking him to be the only Democrat candidate who could reasonably compete with Bush for votes while the Iraq War of choice was being waged. Instead, John Kerry walked away with the nomination and I knew Bush would be reelected. Kerry was a non-starter, running on an “I’m Not Bush” platform, echoing the dismal reality that the Democrats had no voice, no testicular fortitude, no message.

Our country was to be held hostage for another four years by the evangelical, anti-intellectual far right and their moronic leader. I truly believed (living in Oklahoma, at the time) that the majority of this country were actually uneducated hicks who cared more about their guns than community service and thought it more important to have a big dick than humility. It was as though the America I thought existed was being suffocated by the intolerant and selfish and stupid.

I immediately bought a “01.20.09” bumper sticker, proudly displaying my patriotic desire to alter the direction of our nation. I wasn’t alone. Every time I saw another car sporting the same sticker – more than you’d expect here in north Texas – my heart leapt for joy. The peeps were waking up.The tide was turning, biatch.

THE WORST PRESIDENT IN HISTORY

It has been a most painful four years. Gay marriage bans, attempts at abortion redefinitions, no repentance for sending thousands to die for a war of choice – a war based on lies and deceit and salesmanship, and almost every department under the Executive Branch in ill repute for either illegal activity or preventing progress.

Bush is so smug with pride over the fact that the U.S. has not been attacked since 9/11. “I’ve kept America safe,” he repeats. But another leader of higher caliber could have kept us safe without sacrificing our dignity, integrity and honor. A better leader would have questioned his decisions, would not started or outsourced a war designed to establish a legacy. A better leader would have known things are not so simple, not so black and white, and not easily designated “good” and “evil.”

How many Americans did Bush keep safe from Alzheimer’s and diabetes and paralysis by supporting the limitless possibilities of embryonic stem research? How many teenage girls turned to abortion because Bush decided federal funds would support abstinence-only programs proven time and time again to fail, aptly demonstrated by the 2008 Republican V.P. nominee herself? Bush’s legacy entails auctioning off national protected lands (why?) and hindering the listing of many species (including polar bears) from the endangered species list.

At every turn available, the Bush administration sold out this country and it’s citizens to the mega-corporations designed to bleed every penny we have and every penny we’re approved for from our shrinking wallets. He sold the war and soldiers’ safety to Blackwater, Halliburton and myriad of other war profiteers. He sold our energy policy to the energy companies, the EPA to business hell-bent on raping the environment. Even the FDA is a joke, a corporate gimp with a failed record for protecting the consumer.

Under Bush, our nation became a budding autocracy who spies on its citizens at home and abroad. The Justice Department was politicized, the State Department was a Yes Man, the Defense Department was the epitome of incompetence, Homeland Security is a theatrical presentation, FEMA is a mythological black hole, the CIA is a plaything of the Executive.  The FCC has multiplied its interference in our “freedom of speech” a thousand-fold.

There has been no shining light from this President. No progress. No national greatness achieved. He came to office promising to unite and instead tore our country asunder.

With less than 24 hours to go it almost doesn’t seem real. Probably because it will take a generation repair the endless damage that clouds the horizon.

Obviously, I do not believe history will smile on George W. Bush. Unlike others, I do not think that his legacy will mirror the future of Iraq. The Iraq War empowered Iran like nothing else could for centuries – and history knows. In this age of information, ALL the destruction by this administration is on record and serves as a reminder that it does matter who the President of the United States is. Their character and integrity and intellect matter. Their decision-making matter.

We must remember George W. Bush and Dick Cheney. We cannot let time sweeten the memory of the last eight years. We must record it and remember it for the sake of future generations. So that we may say with conviction: NEVER AGAIN.

Is it real? It doesn’t feel real.

12
Jan
09

Why Are Oil Prices So Volatile?

Hint: It ain’t supply and demand.

Last night, 60 Minutes aired an invaluable report explaining the roller coaster oil prices – a must-watch (or must-read, if you prefer the trascript) for anyone confuzzed by the inanity of the energy market.

Spoiler: those manipulative bastards from Enron make a comeback.

Video and transcript here. Really, watch it or read it.




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