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Dimon Pep Talk Consoles Eric Cantor on Way to Wall Street
Eric Cantor sat in his Washington office in June after one of the biggest upsets in congressional history, getting encouragement from JPMorgan Chase & Co.'s Jamie Dimon, head of the largest U.S. bank.
Dimon talked about being fired from another bank by his mentor before rebounding to an even better seat, according to two people who were there. He reassured the Virginia Republican that his career would be just fine, too.
He was right. Cantor, 51, started this month as a managing director and vice chairman of New York-based investment bank Moelis & Co. (MC), where he'll earn more than $3.4 million by the end of next year. With former White House officials and a Tea Party spokesman calling Cantor a sellout, half a dozen people close to him described his new Wall Street life as an extension of his principles rather than a betrayal of them. ... Read more
The Supreme Court has almost always sided with the wealthy, the privileged, and the powerful, a new book argues.
Erwin Chemerinsky is dean of the University of California--Irvine School of Law and a respected litigator with decades of experience who has argued seminal cases at the U.S. Supreme Court. This month he has come out with The Case Against the Supreme Court. The upshot of the book? That the court itself--not the Roberts court but the Supreme Court as an institution--is a massive disappointment. As he bluntly puts it: "We should realize that this is an emperor that truly has no clothes. For too long, we have treated the court is if they are the high priests of the law, or at least as if they are the smartest and best lawyers in society." The book painstakingly details the ways in which the Supreme Court has, in his view, almost always "failed, throughout American history, at its most important tasks, at its most important moments. ... Read moreStraining California's dwindling water supplies amid the state's worst-ever drought.
How Bad Could It Get? US Government Order Of 160,000 HazMat Suits Gives A Clue
Now that Ebola is officially in the US on an uncontrolled basis, the two questions on everyone's lips are i) who will get sick next and ii) how bad could it get? We don't know the answer to question #1 just yet, but when it comes to the second one, a press release three weeks ago from Lakeland Industries, a manufacturer and seller of a "comprehensive line of safety garments and accessories for the industrial protective clothing market" may provide some insight into just how bad the US State Department thinks it may get. Because when the US government buys 160,000 hazmat suits specifically designed against Ebola, just ahead of the worst Ebola epidemic in history making US landfall, one wonders: what do they know the we don't? Read more
Mitt Romney Fans Speculation Over Another White House Run ?
Mitt Romney's Latest Excuse (Take 23) for His 47 Percent Remarks Is a Doozy
"I was talking to one of my political advisers," Romney continued, "and I said: 'If I had to do this again, I'd insist that you literally had a camera on me at all times"--essentially employing his own tracker, as opposition researchers call them. "I want to be reminded that this is not off the cuff." This, as he saw it, was what got him in trouble at that Boca Raton fund-raiser, when Romney told the crowd he was writing off the 47 percent of the electorate that supported Obama (a.k.a. "those people"; "victims" who take no "personal responsibility"). Romney told me that the statement came out wrong, because it was an attempt to placate a rambling supporter who was saying that Obama voters were essentially deadbeats.In the two years since Romney was caught on tape, he just cannot come up with a clear explanation of an easy-to-understand short series of sentences that were responsive to the question presented. But there is one possible explanation he hasn't yet put forward: He said what he believed. Read more
"My mistake was that I was speaking in a way that reflected back to the man," Romney said. "If I had been able to see the camera, I would have remembered that I was talking to the whole world, not just the man." I had never heard Romney say that he was prompted into the "47 percent" line by a ranting supporter.
Leibovich is right; this seems to be the first time Romney has tried to place responsibility for his comment on the person who asked him the question. That supporter was not rambling. Here's what he asked: "For the last three years, all everybody's been told is, 'Don't worry, we'll take care of you.' How are you going to do it, in two months before the elections, to convince everybody you've got to take care of yourself?" That was a straightforward query, succinctly put, not rambling at all. It was Romney who took the point to the next level and proclaimed that a specific number of Americans were lazy freeloaders who could not and would not fend for themselves.
To recap: Romney has gone from side-stepping the remark, to owning the thrust of this comment (though noting it was not well articulated), to saying he was wrong, to denying he said what he said (and contending his words were distorted), to claiming he was only mirroring the rambling remarks of a big-money backer. This last explanation is certainly not fair to the 1-percenter who merely expressed his very 1-percentish opinion. Does this mean that Romney was thrown off his game by a simple question--or that he was trying to suck up to a donor?
Democracy Now! U.S. and World News Headlines for Wednesday, October 01 [7:03]
DN | After Censorship of History Course, Colorado Students & Teachers Give a Lesson in Civil Disobedience (10/01/14) [13:38]
DN | Accused of Stealing a Backpack, High School Student Jailed for Nearly Three Years Without Trial (10/01/14) [24:10]
DN | Mississippi County Sued for Indefinitely Holding Prisoners Without Charge or Access to Lawyer (10/01/14) [5:22]
More HumorThe White House perimeter breached yet again. Our highest government officials at risk. (09/29/14) [0:49]
Once again the comedians do better news than the major networks.*Jon Stewart | British Parliament and the United States Congress take drastically different approaches to debating the decision to start a war against ISIS. (09/29/14) [8:56]
Jon Stewart | Hadi al-Bahra Extended Interview Pt. 1 (09/29/14) [7:55], Part 2 [7:40]
Jon Stewart | The U.N. Climate Summit draws leaders together from around the world to make little to no headway on the climate change crisis.. (09/29/14) [4:58] TRNN | Shukria Dellawar: US-Brokered Afghan Unity Government Paves Way for Continued Military Presence (10/01/14) [9:54]
TRNN | Assistant Professor Eli Friedman from Cornell University says working class and union participation has increased in subsequent occupations (10/01/14) [11:21]
*TYT | Finance Newbie To Wall Street F*ck Buddy In No Time At All (09/30/14) [11:53]
TYT | All White House Intruders Should Die, Insists Bloodthirsty Congress (09/30/14) [5:18] TYT | Bill Maher Destroyed Again And Again By Reza Aslan (09/30/14) [8:23]
TYT | Walmart To Tracy Morgan, You're Partly To Blame For The Crash (09/30/14) [5:49]
TYT | Humans = A Virus Destroying Earth (09/30/14) [5:46]
Ring of FireRing of Fire (09/28/14) [52:58]
Artist's Impression Of The Difference Between ISIS & America's Strategy In The Middle East
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The Fake Terror Threat Used To Justify Bombing Syria
As the Obama Administration prepared to bomb Syria without congressional or U.N. authorization, it faced two problems. The first was the difficulty of sustaining public support for a new years-long war against ISIS, a group that clearly posed no imminent threat to the "homeland." A second was the lack of legal justification for launching a new bombing campaign with no viable claim of self-defense or U.N. approval.
The solution to both problems was found in the wholesale concoction of a brand new terror threat that was branded "The Khorasan Group." After spending weeks depicting ISIS as an unprecedented threat -- too radical even for Al Qaeda! -- administration officials suddenly began spoon-feeding their favorite media organizations and national security journalists tales of a secret group that was even scarier and more threatening than ISIS, one that posed a direct and immediate threat to the American Homeland. Seemingly out of nowhere, a new terror group was created in media lore. ... Read more
Climate Change Is Driving Heat Waves Around The World: Report
The record-setting heat wave in Australia last year was "largely attributable" to human-caused climate change, according to a synthesis report released Monday. Heat waves in Japan, Korea, China and Europe were also "substantially influenced" by global warming, the report found.
For the synthesis report, published in the Bulletin of the American Meteorological Society, 22 groups of scientists looked at 16 extreme weather events that took place in 2013. The paper concludes that at this time, it is more difficult to discern the human impact on other extreme events, such as the drought in California, extreme rainfall in Colorado, and an early-season blizzard in South Dakota.
This is the third annual report on the connections between individual extreme weather events and climate change, led by scientists from the National Oceanic and Atmospheric Administration. ... Read more
Europe & China Start Direct Trading In Euros & Yuan As De-Dollarization Expands.Artist's Impression Of The Difference Between ISIS & America's Strategy In The Middle East
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Another Conspiracy Theory Becomes Fact: The Fed's "Stealth Bailout" Of Foreign Banks Goes Mainstream
Back in June 2011, Zero Hedge first posted:Click to zoom - for bigger image
which we followed up on various occasions, most notably with
Read more Senate Sponsor Exposes The Real Reason For The Fed (1913)
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Democracy Now! U.S. and World News Headlines for Tuesday, September 30 [8:23]
DN | Umbrella Revolution: Hong Kong's Biggest Protests in Decades Challenge China on Political Freedom (09/30/14) [16:23]
*DN | As U.S.-Afghanistan Sign Troop Deal, CIA-Backed Warlord Behind Massacre of 2,000 POWs Sworn-In as VP (09/30/14) [16:12]
*DN | How the U.S. Concocted a Terror Threat to Justify Syria Strikes, and the Corporate Media Went Along (09/30/14) [9:39]
TRNN | Shayana Kadidal of CCR: Eric Holder Continued Bush Legal Policies (09/30/14) [12:54]
*TRNN | Phil Donahue says he believed he was blessed, living in the greatest country on earth, Part 1 (09/30/14) [21:37]
*TRNN | Larry Wilkerson: Underestimating ISIS: An Indictment of Decades of Failed US Policy in the Middle East (09/30/14) [21:37]
TYT | Khorasan Doesn't Exist, They Never Did, You've Been Lied To (09/29/14) [16:45]
YouTube CommenterTYT | Hong Kong Protesters Fight Police Attacks With Umbrellas (09/29/14) [7:34]
BBC's killer documentary called "The Power of Nightmares". Top CIA officials openly admit, Al-qaeda is a total and complete fabrication, never having existed at any time. The Bush administration needed a reason that complied with the Laws so they could go after "the bad guy of their choice" namely laws that had been set in place to protect us from mobs and "criminal organizations" such as the Mafia. They paid Jamal al Fadl, hundreds of thousands of dollars to back the U.S. Government's story of Al-qaeda, a "group" or criminal organization they could "legally" go after.
TYT | US Commits To More Devastating Failure In Afghanistan (09/29/14) [6:48]
TYT | Obama Underestimated ISIS But He's Got It Now So Don't Worry (09/29/14) [7:54]
TYT | Top Official Explains War Authorization… Except He Doesn't (09/29/14) [4:55]
TYT | Oklahoma Beheading Is NOT Isolated, Insist Frothing Right Wingers (09/29/14) [9:58]
Stunning Drone Clip Reveals Massive Size Of Hong Kong Protest
Ferguson was for amateurs. For those curious why the Hong Kong protests over the weekend have sent shivers across the world's capital markets, pushed the Hang Seng 2% lower, and impacted both European and US futures, not to mention leading to worries that China may get involved any second and result in another Tiananmen square event, the following clip from HK's Apple Daily, taken by a drone, shows just how massive the demonstrations, which according to some estimates involved just why of 100,000 people, taking place in Hong Kong are. ...
Why the Showdown with Islamic Extremists Is the War the Pentagon Was Hoping For
As the U.S. escalates its bombing campaign against ISIS (or IS or ISIL), U.S. officials seem to have found an enemy we can all love to hate and fear. ISIS beheads hostages, conducts brutal ethnic cleansing and has links to Al-Qaeda. DC power players have eagerly embraced a small war made to order to restore America's wounded military pride after the first Iraq debacle.
The contrived nature of the narrative presented by U.S. officials was evident from the outset if one cared to look behind the propaganda screen. As the U.S. bombing campaign began, German Left Party MP Ulla Jelpke told a press conference in Rojava (Syrian Kurdistan) on August 11th that the Yazidis on Mount Sinjar were rescued by the Kurdish PKK, who the U.S. government classifies as "terrorists." Refugees told Jelpke that they were saved by "Allah and the PKK," not by U.S. bombing. ... Read more
The War Without End
Afghanistan To Sign U.S. Security Agreement, Adviser Says
A senior adviser to U.S. President Barack Obama said Monday that Afghanistan will sign a deal Tuesday to allow American soldiers to remain in the country past the end of the year. John Podesta, speaking to a news conference at the U.S. Embassy in Kabul, said he didn't know if newly inaugurated President Ashraf Ghani Ahmadzai would be the official signing the deal for Afghanistan.
The deal will allow about 10,000 American troops to stay in the country after the international combat mission ends on Dec. 31. ... Read more
Dead kids and accidental shootouts: A September snapshot of gun violence in America
How's this for a bleak assessment? "For essentially the last 20 years, there has been almost no federal support for research on a health problem that kills upwards of 30,000 people a year," said Garen Wintemute, director of the Violence Prevention Research Program at UC Davis, in an interview yesterday with NPR.
The health problem he's talking about is, of course, gun violence. Between 2000 and 2010, the rate of gun-related deaths in the United States was 10.21 per 100,000 people, according to a recent study in the journal BMJ Open. Over the 11 years covered by the study, at least 335,609 people were killed by guns in this country, and the researchers conclude that if trends continue, around 336,778 lives will be lost due to gun violence between 2011 and 2020. ... Read more
Naomi Klein: Fossil Fuels Threaten Our Ability to Have Healthy Children
It's self-evident that embryos, fetuses, and babies are vulnerable. We have strict laws protecting children because they cannot fend for themselves. And yet, too often, we ignore the impact that environmental disasters have on the very earliest stages of life. In her new book, This Changes Everything: Capitalism vs. the Climate, Naomi Klein examines the effect that our reliance on fossil fuels has on the most helpless members of the animal kingdom--as well as on our own children.
"In species after species, climate change is creating pressures that are depriving life-forms of their most essential survival tool: the ability to create new life and carry on their genetic lines," Klein writes. "Instead, the spark of life is being extinguished, snuffed out in its earliest, most fragile days: in the egg, in the embryo, in the nest, in the den." ... Read more
Democracy Now! U.S. and World News Headlines for Monday, September 29 [10:34]
DN | Ferguson Unrest Continues as Police Accused of Incitement & Michael Brown's Killer Remains Free (09/29/14) [9:50]
DN | Soldier's Heart: Remembering Jacob George, Afghan War Vet Turned Peace Activist Who Took Own Life (09/29/14) [4:56]
More NewsJapan's Mt Ontake volcano erupts, kills one and over 32 seriously injured (09/28/14) [4:17]
Economist | Quantitative easing (older, but scary 2012) [2:31]
Economist | Why eating insects makes sense (09/25/14) [2:09]
Bill Moyers - http://billmoyers.com/Bill Moyers | America's New War in the Middle East: Two experts on American foreign policy talk to Bill about our deepening engagement in the fight against jihadists in Iraq and Syria. (09/26/14) [25:20]
As Congress skipped town and avoided a vote on war, President Obama announced this week that the US was taking the lead in bombing jihadists in Iraq and Syria, opening what is being widely interpreted as another long and costly American military campaign in the Middle East.
This week, Bill discusses the latest on the conflict with Jonathan Landay, a veteran national security reporter for McClatchy Newspapers and Matthew Hoh, a former Marine and foreign service officer in Afghanistan.
"As much as President Obama wishes we weren't the world's policemen, perhaps we are," Landay tells Moyers. "And there's no escaping that curse."
Hoh, who resigned in protest from his post in Afghanistan over US strategic policy there, adds: "Is this really our model for the Middle East that we are going to bomb countries, continuously, take part in civil wars, sometimes supporting one side, maybe supporting the other, with no means or no real desire or effort to achieve a peace?"
John OliverHBO | John Oliver notes that we launched drone strikes against targets in two sovereign states over the weekend and the only report of the attacks his staff could find anywhere was on Iranian television, "buried deep in your cable package…" (09/28/14) [12:56]
Jon Stewart - Daily ShowJon Stewart | Some Folks Asked 'The Daily Show' To Not Air The Clip. They Aired It Anyway. (09/28/14) [7:19]
TYT | US Bombing ISIS-Controlled Oil Refineries In Syria (09/29/14) [4:53]
TYT | "Liberal" Professor Murdered In Pakistan (09/28/14) [6:09]
TYT | Do Americans Think Justice Is Fair To Blacks? POLL (09/28/14) [6:09]
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TYT | Rand Paul Spent His College Years Hating Food Stamps (09/28/14) [6:45]
TYT | Pat Robertson Defends Separation Of Church And Taxes (09/28/14) [4:35]
TYT | Michele Bachmann's Frenzied Bloodlust Delights Values Voters (09/28/14) [17:58]
TYT | The Koch Bros Are Destroying Democracy, This Time Using The Mail (09/28/14) [8:33]
Ring of FirePap and Seder: The World Is Ending and Corporate Media Doesn't Care (09/26/14) [7:24]
Inside the New York Fed: Secret Recordings and a Culture Clash
Barely a year removed from the devastation of the 2008 financial crisis, the president of the Federal Reserve Bank of New York faced a crossroads. Congress had set its sights on reform. The biggest banks in the nation had shown that their failure could threaten the entire financial system. Lawmakers wanted new safeguards.
The Federal Reserve, and, by dint of its location off Wall Street, the New York Fed, was the logical choice to head the effort. Except it had failed miserably in catching the meltdown.
New York Fed President William Dudley had to answer two questions quickly: Why had his institution blown it, and how could it do better? So he called in an outsider, a Columbia University finance professor named David Beim, and granted him unlimited access to investigate. In exchange, the results would remain secret.
After interviews with dozens of New York Fed employees, Beim learned something that surprised even him. The most daunting obstacle the New York Fed faced in overseeing the nation's biggest financial institutions was its own culture. The New York Fed had become too risk-averse and deferential to the banks it supervised. Its examiners feared contradicting bosses, who too often forced their findings into an institutional consensus that watered down much of what they did. ...
How Goldman Controls The New York Fed: 47.5 Hours Of "The Secret Goldman Sachs Tapes" Explain
You sort of knew that the regulators were more or less controlled by the banks. Now you know.
The only reason you know is that one woman, Carmen Segarra, has been brave enough to fight the system. She has paid a great price to inform us all of the obvious. She has lost her job, undermined her career, and will no doubt also endure a lifetime of lawsuits and slander.
So what are they going to do about it? At this moment the Fed is probably telling itself that, like the financial crisis, this, too, will blow over. It shouldn't. ... Read more
Commenter from the above article
The Federal Reserve should be renamed the Department of Welfare for Wall Street and the Wealthy. The trillions in excess reserves that the Federal Reserve has supplied to banks by buying their mortgaged backed securities that they can't sell to anybody else mostly sits idle on bank balance sheets at the Federal Reserve so that banks can collect billions in risk free interest that they can use to make the Stock Market into an overinflated ponzi scheme. That is why the Stock Market Continues to rise - the Federal Reserve is handing the Wall Street Banks free money to buy stocks.
The Secret Goldman Sachs Tapes
... Our financial regulatory system is obviously dysfunctional. But because the subject is so tedious, and the details so complicated, the public doesn't pay it much attention.
That may very well change today, for today -- Friday, Sept. 26 --- the radio program "This American Life" will air a jaw-dropping story about Wall Street regulation, and the public will have no trouble at all understanding it. ... Read more
Democracy Now! U.S. and World News Headlines for Friday, September 26 [11:32]
*DN | Eric Holder's Complex Legacy: Voting Rights Advocate, Enemy of Press Freedom, Friend of Wall Street (09/26/14) [11:51]
DN | "We Deserve To Do More Than Just Survive": Marshall Islands Poet's Plea to the UN Climate Summit (09/26/14) [3:52]
On Tuesday, Kathy Jetnil-Kijiner from the Marshall Islands read a poem to world leaders, written as a letter to her child. "Even though there are those hidden behind platinum titles who like to pretend that we don't exist," she writes, "that the Marshall Islands, Tuvalu, Kiribati, Maldives and Typhoon Haiyan in the Philippines and floods of Pakistan, Algeria, and Colombia and all the hurricanes, earthquakes, and tidalwaves didn't exist. Still there are those who see us hands reaching out." ...
Information We All Know, But Is Worth Repeating*KMC | How The Federal Reserve Is Turning Money Into Debt (07/16/14) [4:58]
*KMC | What does OIL have to do with the rise of IS in Iraq (09/15/14) [9:19]
KMC | Wikileaks: 'Weaponised malware' hacking software spying on us (09/24/14) [3:23]
Jon Stewart*Jon Stewart Schools Congress On Climate Change With A Simple Demonstration (09/24/14) [10:37]
*TRNN | Eric Holder's Record at the Department of Justice. Former prosecutor Bill Black says Holder's legacy on "too big to fail" is "too big to jail" (09/26/14) [12:00]
TYT | Eric Holder Resigns, Obama Loses Long-Serving Ally (09/25/14) [11:30]
TYT | Fox News Leads GOP Bullsh*t Parade Against Eric Holder (09/25/14) [7:23]
TYT | 'Boobs On The Ground?' - Fox Host Sinks To New Low (09/25/14) [6:33]
TYT | Did The NSA Force A School District To Spy On Students? (09/25/14) [8:37]
TYT | Ferguson Police Chief Apologizes To Michael Brown's Family (09/25/14) [7:46]
A Look Inside The Secret Deal With Saudi Arabia That Unleashed The Syrian Bombing
For those to whom the recent US campaign against Syria seems a deja vu of last summer's "near-war" attempt to ouster its president Bashar al-Assad, which was stopped in the last minute due to some very forceful Russian intervention and the near breakout of war in the Mediterranean between US and Russian navies, it is because they are. And as a reminder, just like last year, the biggest wildcard in this, and that, direct intervention into sovereign Syrian territory, or as some would call it invasion or even war, was not the US but Saudi Arabia - recall from August of 2013 - "Meet Saudi Arabia's Bandar bin Sultan: The Puppetmaster Behind The Syrian War." Bin Sultan was officially let go shortly after the 2013 campaign to replace Syria's leadership with a more "amenable" regime failed if not unofficially (see below), but Saudi ambitions over Syria remained. That much is revealed by the WSJ today in a piece exposing the backdoor dealings that the US conducted with Saudi Arabia to get the "green light" to launch its airstrikes against ISIS, or rather, parts of Iraq and Syria."The process gave the Saudis leverage to extract a fresh U.S. commitment to beef up training for rebels fighting Mr. Assad, whose demise the Saudis still see as a top priority." Read more
The Right's Newest Obama Conspiracy: He Made Up a "New" Terrorist Group to Defeat
... "From what I understand, the [Obama] regime has given this group a new name in order for Obama to be able to continue to say he wiped Al Qaeda out," Rush Limbaugh said on Wednesday. "So you come up with a new name for Al Qaeda, the Kardashians, or Khorasans, or whatever they are, and either way it's defeating…So this new group is essentially just Al Qaeda renamed."
Glenn Beck came to a similar conclusion: "What is Khorasan? [Director of National Intelligence] James Clapper mentioned Khorasan for the first time last week. What is it? It's an Al Qaeda splinter group. Notice they're not saying 'Al Qaeda Khorasan.' They're just calling it Khorasan. Why? The Pentagon claimed they have been watching Khorasan for a very long time, but it wasn't too long ago that this administration said Al Qaeda was decimated and on the run. But now they're an imminent threat? It doesn't add up, does it?"... Read more
FBI: U.S. mass shootings more than doubled in past five years
486 people were killed in 160 shootings in the past 14 years
$26 Billion in US Aid Later, the Iraqi Military Is a Total Disaster
As US bombs rain down on ISIS targets in Iraq and Syria, analysts agree that this war will ultimately be won on the ground. Too bad the Iraqi defense forces are a shambles. The New York Times reports that the United States still has to train the country's 26 "intact and loyal" brigades. And the Iraqi government has yet to recruit and set up national guard units. "It is not going to be soon," says a State Department official.
Here's where that money went:Read more
Obama Expands Pacific Ocean Preserve, Making It Largest In The World
President Barack Obama is carving out a wide swath the Pacific Ocean for an expanded marine preserve, putting the waters off-limits to drilling and most fishing in a bid to protect fragile underwater life.
The revamped expanded Pacific Remote Islands Marine National Monument will cover 490,000 square miles - an area roughly three times the size of California - and will become the largest marine preserve in the world. Millions of seabirds, sea turtles and marine mammals live in the bio-rich expanse included by the new monument, which will also add new protections for more than 130 "seamounts" - underwater mountains where rare or undiscovered species are frequently found. ... Read more
Democracy Now! U.S. and World News Headlines for Thursday, September 25 [6:42]
DN | Exclusive: Freed After Hunger Strike, Egyptian Journalist in U.S. to Campaign for Jailed Colleagues (09/25/14) [16:43]
*DN | Listen to the People, Not the Polluters: Kumi Naidoo of Greenpeace on the Global Climate Uprising (09/25/14) [11:54]
How Honest Are Our News Agencies?Viggo Mortensen Calls Fox News "A Brazen Form Of Lying" (09/18/14) [2:59]
Jon StewartJon Stewart | Jon Stewart asks: Is Wall Street's favorite new company, Alibaba, just Craigslist with better graphics? (09/24/14) [4:15]
How ISIS | ISIL | IS Is OrganizedHow IS Is Organized (09/11/14) [3:19] *TRNN | Turkish-Syrian Border "A Great Hole" in Obama's UN Speech (09/25/14) [15:11]
TRNN | US Bombs Syria without Congressional Approval (09/25/14) [8:01]
*TYT | Hidden Camera Reveals Chilling Life Under ISIS Control (09/24/14) [8:17]
*TYT | Students Bravely Fight Back Against 1984-Loving Conservative School Board (09/24/14) [6:26]
"Hundreds of students walked out of classrooms around suburban Denver on Tuesday in protest over a conservative-led school board proposal to focus history education on topics that promote citizenship, patriotism and respect for authority, in a show of civil disobedience that the new standards would aim to downplay.TYT | Obama Salutes With Coffee Cup - Cue Conservative Freak Out (09/24/14) [9:15]
TYT | Obama Pitches ISIS War To The UN - Will The World Say Yes? (09/24/14) [11:39]
TYT | Permanent War In Middle East? Hell Yes Says GOP Hot Shot (09/24/14) [6:20]
???The militant Islamic State group has released a new video in which a man identifying himself as a British journalist, John Cantlie, says that he will "show you the truth" about ISIS and how western media is manipulating the public. (09/18/14) [2:59]
The militant Islamic State group has released a new video in which a man identifying himself as a British journalist says that he will "show you the truth" about ISIS and how western media is manipulating the public. The chilling video shows a man who says he is John Cantlie. Cantlie, a former reporter for the Sunday Times, the Sun and the Sunday Telegraph, went missing in Syria in 2012, but was later freed by the Free Syrian Army. Cantlie reportedly then returned to Syria in 2012, along with US journalist James Foley. Foley was beheaded by ISIS in August, a horrific killing that was also recorded and released on video.
What Is Khorasan and Why Did the US Just Bomb It?
On Monday night, a US-led coalition launched air strikes in Syria against members of ISIS, the extremist Islamic group occupying territory in Iraq and Syria. As a "last-minute add-on," NBC reports, the United States also targeted a different terrorist group: a little-known outfit called Khorasan. This Al Qaeda affiliate gained some public attention earlier this month after US officials reported that the extremists were plotting to sneak bombs on to US airplanes. Last week, Director of National Intelligence James Clapper noted that the group "perhaps" posed as great a threat to the United States as ISIS. On Tuesday morning, Pentagon spokesman Rear Adm. John Kirby maintained that strikes on ISIS and Khorasan were "very successful." The US targeted Khorasan's "training camps, an explosives and munitions production facility, a communications building and command and control facilities," the Pentagon told the Washington Post. ... Read more
America Has More Low-Paying Jobs Than Any Other Developed Country
America may be exceptional in many ways, but it also tops the charts of a new, troubling ranking. The U.S. has more low-paying jobs than any other country in the Organisation for Economic Co-operation and Development, an economic group of 34 developed countries, according to a research note released by Morgan Stanley on Monday.
... The OECD defines "low-paying" as jobs that earn less than two-thirds of a country's median income. On average, around 16 percent of jobs in OECD countries are considered low-paying. In the U.S., over 25 percent of all jobs qualify as such. ... Read more
1 Tomahawk missile = $1.4 million.
47 Tomahawk missiles = $66 million.?
US military Budget, Priceless..
Top Liberian Official Warns Ebola Crisis May Plunge The Country Back Into Conflict
A top official in Liberia's government warned on Wednesday that the Ebola outbreak ravaging through West Africa may have disastrous consequences for the peace and stability of the region. Liberia's Information Minister Lewis Brown told the Agence France Presse that the slow response to the Ebola outbreak could cause the region to "slip back into conflict."
"Hospitals are struggling, but so too are hotels," Brown said. "Businesses are struggling. If this continues the cost of living will go to the roof. You have an agitated population." ... Read more
How Playing Good Christian Housewife Almost Killed Me
Vyckie Garrison was once a minor celebrity in the Quiverfull Movement, made famous by TV's Duggar family. As a devout, Bible-believing Christian and the mother of seven homeschooled children, Garrison spent 16 years, with her husband, publishing a newspaper for families on a similar path. Today, via a website called No Longer Quivering, she publishes resources for women leaving the movement. Recently she addressed American Atheists about her experience. This article is an abridged version of her remarks.
Whenever I talk about my escape from the Quiverfull movement, Christians immediately dismiss my experience by saying, "Your problem was not with Jesus or Christianity. Your problem was that you were following an extreme, legalistic cult. Let me tell you about my personal relationship with Jesus." It can be extremely frustrating. I was in a close, personal relationship with Jesus for over 25 years. But rather than telling you about the beginning of my relationship with this man, I am going to spare you the long story and skip straight to the break up. ...
Democracy Now! U.S. and World News Headlines for Wednesday, September 24 [9:20]
*DN | Without a Truce in Syrian Civil War, U.S.-Led Strikes Threaten More Chaos for World's Worst Crisis (09/24/14) [11:23]
DN | "We Can't Rely on Our Leaders": Inaction at Climate Summit Fuels Call for Movements to Take the Helm (09/24/14) [12:21]
Jon StewartJon Stewart | "Daily Show" host Jon Stewart described the U.S. military action on terrorist groups operating in Syria as "the iPhone 6 of wars." (09/23/14) [8:10]
*Jon Stewart | General Tony Zinni new book - Before the First Shots Were Fired, Part 1 (09/23/14) [4:44], Part 2 [4:54]
*TRNN | Body of War, a film by Ellen Spiro and Phil Donahue (09/24/14) [1:27:38]
The above video by Phil Donahue is provided to us by The Real News Network (TRNN). I have added the two videos below, No End in Sight by Charles Ferguson, and Iraq War Documentary - Rachel Maddow because I think it is important to know how we left the country of Iraq, after we didn't win the war.No End in Sight by Charles Ferguson (2006) [1:41:53]
"Hubris": Iraq War Documentary - Rachel Maddow (02/18/13) [44:11] TRNN | Lecturer Baris Kaaragaac says: What Role Is Turkey Playing in the War against ISIS? (09/24/14) [18:15]
*TYT | United States Destroys ISIS Targets Throughout Syria (09/23/14) [10:16]
Some interesting YouTube CommentsTYT | Bill O'Reilly Has The Secret To Defeating ISIS & It's Maximum O'Reilly (09/23/14) [9:51]
Commenter 1: We've always been good at killing, but building democratic institutions to replace them, not so much.?
Comment back: You weren't really trying, since those institutions have an unfortunate habit of doing things you don't like - such as nationalizing oil.
Commenter 2: If you were building a Theocracy, a Religious State, would you deluge the world's Super Powers with threats and beheading videos and super slick trailers and warning footage of filming the White House?
This is what I don't get. They went out of their way to invite American intervention in Syria.
Obama went above Congress to launch American intervention with Syria.
Does any of this feel a little bit... contrived??
TYT | "F*ck It, I Quit" Says News Anchor Who Owns Alaska Cannabis Club (09/23/14) [6:17]
If nothing else, watch the News Caster's Internet video on why she quit that starts at 1:37 .TYT | Is This Blowjob Selfie Child Porn? (09/23/14) [5:41]
Self publishing on the Internet has created a whole new set of problems... I like the way TYT discusses the issues (here and in other videos).
What’s Possible, a New Film for World Leaders on the Urgency of Global Warming
More than 120 world leaders – including President Barack Obama – kicked off a one-day United Nations’ summit on climate change in New York City by viewing What’s Possible, a short film on the urgency of global warming.
Narrated by Morgan Freeman, the film’s images, some disturbing and some magnificent, are meant to remind them of what’s at stake: global warming will place our planet and all its inhabitants at destruction’s door unless our governments take immediate action. ...
Climate Change You Can Believe In
Just as Sunday’s big People’s Climate March and next week’s UN global summit on climate converge here in New York City, the nation and world are experiencing weather of an intensity that should rattle the stubborn false convictions of even the most fervent climate change denier.
Terrible flooding in India and Pakistan, the worst in more than a century, with heavy monsoon rains, 500 lives lost and hundreds of thousands left stranded… thousands of wildfires ignited by severe drought in California and the West… flashfloods in Arizona… the punch of a hurricane pounding Mexico’s Baja coast, the strongest in nearly fifty years, battering locals and trapping tourists in their hotels without electricity. ... Read more
We Brought it on Ourselves: A Timeline of Choices We’ve Made to Increase Inequality
*Wealth Inequality in America [6:25] *Wealth Inequality in the World [3:51]
Democracy Now! U.S. and World News Headlines for Tuesday, September 23 [7:36]
*DN | Expanding U.S. Strikes to ISIS in Syria, Has Obama Opened New Phase of "Perpetual War"? (09/23/14) [19:48]
DN | Vandana Shiva, Winona LaDuke & Desmond D'Sa on a Global, Grassroots Response to U.N. Climate Summit (09/23/14) [13:01]
DN | Musician Sting: Why I Am Walking with the Indigenous Bloc in People's Climate March (09/23/14) [2:34]
DN | Video Highlights from the 3-hour Democracy Now! Special Broadcast at Historic People's Climate March (09/23/14) [29:10]
DN | Voices from the People's Climate March: Indigenous Groups Lead Historic 400,000-Strong NYC Protest (09/23/14) [7:48]
Bill Moyers - http://billmoyers.com/Bill Moyers | What’s Possible, a New Film for World Leaders on the Urgency of Global Warming. (09/23/14) [2:29]
The new short, narrated by Morgan Freeman, premiered before world leaders this morning at the UN climate change summit. Watch it here, along with an interview with the filmmakers.*Bill Moyers | Kelsey Juliana, an 18-year-old activist, is fighting climate change in the courts and walking across the country to spread the word on global warming. (09/19/14) [25:26]
TRNN | Peter Sinclair and Cathy Kunkel discuss emerging possibilities for fighting climate change: a combination of locally-owned affordable solar and utility scale wind energy to replace the electrical grid (09/23/14) [13:48]
TYT | Would You Be This Calm If You Received A $117,000 Medical Bill? (09/22/14) [7:51]
TYT | Record-Setting Climate March Proves People Care & The Media Doesn't (09/22/14) [8:49]
TYT | ISIS Wants You & Everybody Else Dead, Especially The French (09/22/14) [10:05]
TYT | Congress About To Take A RIDICULOUSLY Long Vacation (09/22/14) [6:28]
Ring of FireRoF | Ring of Fire (09/21/14) [52:58]
00:43 - “The Party of Voter Suppression.” Attorney David Haynes will run down the latest GOP voter suppression efforts. #VoterSuppression
10:13 - "Democrats Can Win on Social Security.” Richard Eskow, host of The Zero Hour in Los Angeles, will tell us how Democrats can win in November by increasing funding to our social safety net programs. #ProtectSocialSecurity
19:58 - “The Dixieland Dilemma.” Attorney Howard Nations will tell us how the Right has destroyed everything in the South – from the environment to economic mobility. #DixielandDilemma
29:21 - “Californians Fight Malpractice Caps.” Attorney Anne Marie Murphy discusses California’s Prop 46, which turns tort reform on its head by addressing the REAL cause of malpractice. #YesonProp46
38:38 - “Labor Can Save The Middle Class.” Attorney Mike Burg will explain how a resurgent labor movement can help save the American middle class. Middle Class, Wages, Minimum Wage, Pay, Gap, Union, Worker. #SaveLabor
48:17 - “The Pap Attack: Democrats – Leave The South NOW!”
TV News Misses Yet Another Opportunity To Cover Climate Change
The People's Climate March on Sunday was perhaps the largest climate change protest in history. Hundreds of thousands of people took to the streets of New York City. Celebrities and high-profile politicians were among the marchers. The protest was a huge topic on social media. ...
...Well, so much for that idea. It seems climate change remains one potentially world-shattering issue that just can't get any respect on television. No Sunday morning show except MSNBC's "Up" so much as mentioned climate change, or the march, save for one stray reference on "This Week" by The Nation's Katrina vanden Heuvel. She pointed out that the march was actually gathering right outside the ABC studios in Lincoln Center where the show is taped. ... Read more
Times are a changing. Maybe this is telling us something about who believes in Climate Change.
Rockefellers Divesting From Big Oil
The Rockefeller family is divesting some of its massive fortune from fossil fuels, the New York Times reported on Sunday. The Rockefeller Brothers Fund, the family's charitable arm, will announce the landmark move in a video conference on Monday along with 49 other foundations. According to USA Today, the 50 groups will divest from 200 major oil and gas companies.
... The Rockefeller Brothers Fund has been a major supporter of environmental advocacy. Last year, the charity gave over $6 million in grants to sustainable development projects. ... Read more
The Decline and Fall of the American Empire
A soft landing for America 40 years from now? Don't bet on it. The demise of the United States as the global superpower could come far more quickly than anyone imagines. If Washington is dreaming of 2040 or 2050 as the end of the American Century, a more realistic assessment of domestic and global trends suggests that in 2025, just 15 years from now, it could all be over except for the shouting.
Despite the aura of omnipotence most empires project, a look at their history should remind us that they are fragile organisms. So delicate is their ecology of power that, when things start to go truly bad, empires regularly unravel with unholy speed: just a year for Portugal, two years for the Soviet Union, eight years for France, 11 years for the Ottomans, 17 years for Great Britain, and, in all likelihood, 22 years for the United States, counting from the crucial year 2003. ... Read more, or Read more here
Apple said it sold 10 million new iPhones over the weekend.
Where The Housing "Recovery" Is, In One Chart
Janet, we have a problem. The Fed's main policy transmission channel, since stock ownership is not widespread enough to affect the real economy's expectations, is via home equity wealth creation and animal spirit exuberance-based borrowing and leverage. As the following chart shows, the much-touted "housing recovery" pillar of the economy - that is set to take off and lift growth to escape velocity - is only evident in one place...
California Or Ethiopia? "Families Dream Every Night About Water"
It's worst and getting worst-er. Hundreds of domestic wells in California's drought-parched Central Valley farming region have run dry, according to AP, leaving many residents to rely on donated bottles of drinking water to get by. With government set to regulate deeper drilling, hope is plunging that a solution to California's drought will come anytime soon as groundwater levels plunge. The stories of struggle are simply stunning, especially given they are coming from America with Governor Brown signing an executive order that provides money to buy drinking water for residents statewide whose wells have dried up. ... Read morePossibly still working on articles.
Democracy Now! U.S. and World News Headlines for Monday, September 22 [4:59]
*DN | Voices from the People's Climate March: Indigenous Groups Lead Historic 400,000-Strong NYC Protest (09/22/14) [7:48]
*DN | Heirs of Billionaire Oil Tycoon John D. Rockefeller Join Growing Fossil Fuel Divestment Movement (09/22/14) [12:57]
You have to watch the whole video to get the sense how we are lied to through mass media. The piece also gets funnier the further along you go.*HBO | Last Week Tonight with John Oliver: Miss America Pageant (09/21/14) [15:24]
And You Thought You Had a Bad Day (09/04/13) [1:04]
California DroughtPolice Arrest Wayne Allen Huntsman for Allegedly Sparking California King Wildfire (09/19/14) [2:03]
One of California's Biggest Wildfires this Year
Wayne Allen Huntsman will be arraigned on arson charges related to the fire that threatens thousands of homes.
EbolaEbola survivor blood on black market (09/19/14) [2:26]
5,000 Infected | 2,600 Have Died
The WHO says people are turning to the black market to buy blood from Ebola survivors.
Gun ControlHistory of American Mass Shootings: 10 Facts You Need to Know (older) [5:18]
*TRNN | Professor Chris Williams says: World Leaders To Emit Promises of Hot Air at UN Climate Summit (09/22/14) [15:41]
TRNN | War, Whistleblowing and Independent Journalism Panel (09/22/14) [1:12:30]
Panel includes: William Binney, NSA whistleblower, Marsha Coleman-Adebayo, EPA whistleblower, Jessica Desvarieux, journalist [moderator], Phil Donahue, journalist, Thomas Drake, NSA whistleblowr, Kirk Wiebe, NSA whistleblower.TYT | Study: Who's More Moral, Religious or Non-Religious? (09/20/14) [5:56]
*TYT | How The Koch Brothers Corrupted Florida State University, and 163+ Other Colleges (09/20/14) [7:22]
TYT | Republicans Favorability Highest Level In Years - Blame ISIS? (09/20/14) [2:19]
TYT | Scotland Votes "No" On Independence (09/20/14) [8:22]
Ring of FireRoF | Seder: Climate Change Is Killing Us, and We Aren't Stopping It (09/19/14) [6:41]
History TimelinesHistory Timeline(s)
As I construct My News Pages I constantly run across a lot of NEW videos, and since I find YouTube frustrating trying to re-find videos, I save the links in this section so I can find them again.
Scotland Rejects Independence, Votes To Stay In The United Kingdom
Scotland spurned independence in a historic referendum that threatened to rip the United Kingdom apart, sow financial turmoil and diminish Britain's remaining global clout.
A vote for the 307-year union is a relief for millions of Britons including Prime Minister David Cameron, whose job was on the line, as well as allies across the world who were horrified at the prospect of the United Kingdom's separation. Opponents of independence won 55 percent of the vote while separatists won 45 percent with all 3.6 million votes - a record 85 percent turnout - counted. But leaders from across the United Kingdom said the union must change if it is to endure. ... Read more
Voters aged 16-17: YES: 71%; NO: 29%
Voters aged 65+: YES: 27%; NO: 73%
Angry With Washington, 1 In 4 Americans Open To Secession
The failed Scottish vote to pull out from the United Kingdom stirred secessionist hopes for some in the United States, where almost a quarter of people are open to their states leaving the union, a new Reuters/Ipsos poll found.
Some 23.9 percent of Americans polled from Aug. 23 through Sept. 16 said they strongly supported or tended to support the idea of their state breaking away, while 53.3 percent of the 8,952 respondents strongly opposed or tended to oppose the notion. ... Read more
Sierra Leone's Capital At Standstill As 3-Day Ebola Lockdown Begins
Sierra Leone began a three-day lockdown on Friday in an effort to halt the spread of the Ebola virus, as President Ernest Bai Koroma urged residents to comply with the emergency measures.
Streets in the normally bustling seaside capital Freetown were deserted, barring vehicles carrying police officers and health workers. Radio stations played Ebola awareness jingles on repeat and encouraged residents to stay indoors. ... Read more
3 Things Worth Thinking About
While we are not predicting that the proverbial "wheels are about the come off the cart," today, this is another in a long list of indications that value in the stock market is no longer present. Of course, this would also suggest this might be, just maybe, a time to start considering "selling high." Of course, such a suggestion is wildly ludicrous and absolutely illogical since it is widely believed that the markets will never go down...ever. ...
... in a consumption based economy excess debt, structural unemployment and stagnant incomes retard economic prosperity. The simple fact is that when it requires roughly $4 of debt to create $1 of "real" economic growth - the engine of growth is broken. ... Read moreClick to zoom - for bigger image
Do we even need the major 24 hour news casts, when we have Stephen Cobert and Jon Stewart??Stephen Cobert | Stephen Colbert considers our as-yet-unnamed Arab partners in the fight against ISIS -- and tells us it's time to be very afraid... (09/18/14) [8:49]
One-Pot Pasta Recipe
Heat a large, heavy-bottomed pot over high heat. Drizzle in the olive oil. When it's hot, add the garlic and let it get nice and golden (this color adds lots of flavor); it will only take about 30 seconds. Add the onion and cook until the onion is translucent, 3 to 4 minutes. Add the tomatoes, kale, basil, pasta, salt and 4 cups water. Bring the mixture to a boil while stirring, then reduce the heat to a simmer.
Cook the whole thing for the amount of time suggested on the pasta package, giving it an energetic stir every few minutes. If it starts to look too dry, add a slosh more water (about 1/2 cup at a time). Once the pasta is al-dente, fold in the Parmesan. Taste! Does it need some red pepper flakes? A pinch of salt? Top with the fresh basil, maybe a shower of Parmesan. Enjoy!
Democracy Now! U.S. and World News Headlines for Friday, September 19 (full) [58:56]
PBS Documentaries*PBS | Capturing complicated portraits of 'high-voltage' Roosevelts (09/18/14) [7:44]
Theodore, Franklin, Eleanor -- these three American icons from a single family led and shaped the nation during the first half of the 20th century. But behind their public personas, they lived more complex lives. A new documentary series on PBS, "The Roosevelts: An Intimate History," offers an in-depth exploration. Filmmaker Ken Burns joins Margaret Warner to discuss their legacy.*TRNN | Activists Margaret Flowers and Kevin Zeese discuss the major climate change events taking place this weekend in New york City (09/19/14) [12:10]
See the Episode in yesterdays News Pages (09/18/14).
*TRNN | Deepa Kumar and Peter Hart say the mainstream media is working to manufacture consent for further military action in Syria and Iraq (09/18/14) [21:43]
TRNN | Vijay Prashad: If the West is serious about tackling ISIS it must lessen the chaos within Syria and seek a political solution (09/18/14) [14:24]
TRNN | Lecturer Peter Watt discusses the issues and history surrounding Scottish Independence (09/18/14) [16:48]
PBS NewsHourPBS NewsHour | What role should Mideast countries play in Islamic State fight? (09/18/14) [10:04]
*TYT | When Your Workers Want Rights Just Pay Off A Politician (09/19/14) [8:44]
*TYT | Hillary Clinton 2016 Survey Results, TYT's Progressive Petition Update (09/19/14) [6:42]
TYT | Boots on the Ground? Obama Declares War on Ebola (09/17/14) [4:23]
I know Cenk is poking fun at a very serious problem. But, I agree with his argument, that everything in American Foreign (and possibly Domestic) Policy has to framed as a War, i.e. War on Terror, War on Drugs, War on Poverty, War on... Why can't we just be a nation of humanitarian relief ??TYT | Occupy Movement Buys & Forgives $4 Million In Student Loan Debt (09/19/14) [6:17]
TYT | ISIS "Flames of War" Propaganda Tape Released (09/17/14) [4:40]
TYT | Beheaded Journalists' Family "Bullied" By Obama Administration (09/17/14) [7:09]
I'm not sure I totally agree with Cenk on this one. I think the family should be able to pay the ransom. Should the government be involved... probably not.TYT | ISIS Releases New Hostage Video - British Journalist John Cantlie (09/19/14) [7:40]
TYT | Congress Passes War Funding To Support Obama's ISIS Fight (09/19/14) [7:28]
TYT | Sex Tourist Rush Limbaugh Unclear On Meaning Of Consensual Sex (09/17/14) [6:19]
As I construct My News Pages I constantly run across a lot of NEW (and old) videos, and since I find YouTube frustrating trying to re-find videos, I save the links in this section so I can find them again.
Scotland Independence Vote Commences
For Scots, Wednesday was a day of excitement, apprehension, and a flood of final appeals before a big decision. In a matter of hours, they will determine whether Scotland leaves the United Kingdom and becomes an independent state.
A full 97 percent of those eligible have registered to vote -- including, for the first time, 16- and 17-year-olds -- in a referendum that polls suggest is too close to call. ...
Goldman's Q&A On What Yellen Really Said (Or Didn't)
Since it is the NY Fed, headed by an ex-Goldmanite, which will ultimately be tasked with exiting 6 years of "unconventional monetary policy" - at some point during this "recovery" if not now or any time soon for that matter - it is probably best to listen to Goldman for its post-mortem on what the chairwoman did or did not say. Which is why we present a "Q&A" with Goldman's head economist, Jan Hatzius, known to occasionally exchange a sandwich and the occasional policy guidelene, with NY Fed's Bill Dudley at the Pound and Pence, in which he explains how Yellen managed to be both more dovish and more hawkish than the "market" expected. ... Read more
The Trolling Continues: Fed Chairwoman Expresses Her Condolences To America's Poor
Janet Yellen released a speech this morning explaining how sorry she is about 'the poor' and why they need to get rich. In the speech below, she stresses, "how important it is to promote asset-building, including saving for a rainy day, as protection from the ups and downs of the economy," despite falling incomes, rising costs, and extending credit, we assume she means. ...
... For lower-income families, what we find is sobering. The median net worth reported by the bottom fifth of households by income was only $6,400 in 2013. Among this group, representing about 25 million American households, many families had no wealth or had negative net worth. The next fifth of households by income had median net worth of just $27,900. These numbers represent declines from 2010. One reason is that income has continued to fall for these families ... Read moreClick to zoom - for bigger image
Five Signs the Dark-Money Apocalypse Is Upon Us
It's the home stretch of the 2014 election season. No single theme or issue has dominated the midterms, but 2014 is on pace to be the Year of Dark Money.
Nonprofit groups, some well-known (such as the US Chamber of Commerce and Americans for Prosperity, founded by the Koch brothers) and some obscure (America Inc., anyone?), have dumped huge sums of anonymous money into every competitive Senate race and many House contests. Here are five eye-opening indicators showing the rapid spread of dark money in this year's campaign season--and why it's going to get worse as Election Day approaches. ... Read moreClick to zoom - for bigger image
Dirty Secret of $1 Trillion Loans Is When Do You Get Money Back?
Imagine a trillion-dollar market that runs on faxes and phone calls while routinely tying up investors' money for months before they get any return. That's not fiction: It's the unregulated market for leveraged corporate loans. In a financial system that is increasingly automated, the origination and trading of loans is in the relative dark ages while money pours in from mainstream investors such as Kansas and New York pension plans and mutual funds catering to individuals seeking high yields in an era of near-zero interest rates.
The antiquated structure of a market that's ballooned from a mere $35 billion in 1997 poses a growing threat, raising the odds of gridlock in a downturn when investors expect to get their money back with a click of a button. As of yet, no regulators have taken responsibility for fixing the deficiency.
"It's a critical issue," said Beth MacLean, a money manager at Newport Beach, California-based Pacific Investment Management Co., which oversees $1.97 trillion, including the world's biggest bond mutual fund. "Any single retail fund not being able to meet their redemptions would have a ripple effect on the whole market." ...
... Judith Burns, a spokeswoman for the U.S. Securities and Exchange Commission, which has placed a priority on monitoring corporate and municipal bond trading more closely, declined to comment. So did representatives of the Federal Reserve, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corp. -- which have all raised concern that banks are being too lax in their loan underwriting standards. ... Read more
Democracy Now! U.S. and World News Headlines for Thursday, September 18 [11:59]
*DN | Capitalism vs. the Climate: Naomi Klein on Need for New Economic Model to Address Ecological Crisis (09/18/14) [8:00],
Part 2 [13:20]
PoliticsPBS NewsHour | Would America elect a Roosevelt today? (09/17/14) [2:42]
*The RooseveltsPBS | The Roosevelts - Get Action (1858-1901) Part 1 (09/14/14) [1:54:57]
Examine the early lives of Theodore Roosevelt and his younger cousin, Franklin.PBS | The Roosevelts - In the Arena (1901-1910) Part 2 (09/14/14) [1:56:20]
Murder brings Theodore Roosevelt to the presidency, but in the seven years that follow, he transforms the office and makes himself perhaps the best-loved of all presidents, battling corporate greed, preserving American wilderness, carrying the message of American might around the world. FDR weds Eleanor Roosevelt, and jumps at the chance to run for the New York state senate.PBS | The Fire of Life (1910-1919) Part 3 (09/14/14) [1:56:30]
Theodore Roosevelt leads a Progressive crusade that splits his own party, campaigns for American entry into World War I -- and pays a terrible personal price. Franklin masters wartime Washington as Assistant Secretary of the Navy, while Eleanor finds personal salvation in war work. Her discovery of Franklin's romance with another woman transforms their marriage into a largely political partnership.PBS | The Storm (1920-1933) Part 4 (09/14/14) [1:56:40]
Franklin Roosevelt runs for vice president in 1920 and seems assured of a still brighter future until polio devastates him. He spends seven years struggling without success to walk again, while Eleanor builds her own personal and political life of. FDR returns to politics in 1928 and acts with such vigor during the first years of the Great Depression that the Democrats nominate him for president.PBS | The Rising Road (1933-1939) Part 5 (09/14/14) [1:56:40]
FDR brings the same optimism and energy to the White House that his cousin Theodore displayed. Aimed at ending the Depression, his sweeping New Deal restores the people's self-confidence and transforms the relationship between them and their government. Eleanor rejects the traditional role of first lady, becomes her husband's liberal conscience and a sometimes controversial political force.PBS | The Common Cause (1939-1944) Part 6 (09/14/14) [1:55:05]
FDR shatters the third-term tradition, struggles to prepare a reluctant country to enter World War II and, after the Japanese attack on Pearl Harbor, helps set the course toward Allied victory. Meanwhile, Eleanor struggles to keep New Deal reforms alive in wartime and travels the Pacific to comfort wounded servicemen.PBS | A Strong and Active Faith (1944-1962) Part 7 (09/14/14) [1:51:33]
Frail and failing but determined to see the war through to victory, FDR wins re-election and begins planning for a peaceful postwar world, but a cerebral hemorrhage kills him at 63. After her husband's death, Eleanor Roosevelt proves herself a shrewd politician and a skilled negotiator in her own right, as well as a champion of civil rights, civil liberties and the United Nations.
Smart PeoplePBS NewsHour | Malala explains why she risked death for girls' education (09/16/14) [5:58]
EnvironmentPBS NewsHour | GMO debate grows over golden rice in the Philippines (09/17/14) [8:25]
Naomi Klein: Only a Reverse Shock Doctrine Can Save Our Climate
In her new book, This Changes Everything: Capitalism vs. the Climate, Naomi Klein argues that if we had taken action years ago when scientists first established that human activities were changing our climate, we might have been able to deal with the problem of global warming with only minimal disruption to our economic system. But as we approach a tipping point, and the consequences of climate change come into sharper focus, that time has passed, and we now have to acknowledge that preserving humans’ habitat requires a paradigm change.
But Klein doesn’t just offer us a depressing litany of the damage we’ve already done. She calls on us to seriously rethink the way our economy is structured to address not only climate change, but also other longstanding social problems like persistent global poverty and rising inequality. ...
Naomi Klein, author of the international bestseller The Shock Doctrine (Disaster Capitalism), says the tragic destruction of Hurricane Sandy can also be the catalyst for the transformation of politics and our economy. She’s been in New York visiting the devastated areas -- including those where “Occupy Sandy” volunteers are unfolding new models of relief -- as part of her reporting for a new book and film on climate change and the future, and joins Bill to discuss hurricanes, climate change, and democracy.
Facebook for the 1 percent –> An entrepreneur is launching a social media site for rich people “where you could talk about the finer things in life without backlash.” In order to keep out the riffraff, it will cost $9,000 to join and $250 per month for membership. Via: CNN.
Ebola Cases Could Double Every 3 Weeks
The number of Ebola cases could start doubling every three weeks in West Africa, the World Health Organization said Tuesday, warning that the outbreak will cost nearly $1 billion to contain so it does not turn into a "human catastrophe."
Even as President Barack Obama is ordering the deployment of 3,000 U.S. military personnel to help provide aid in the region, Doctors Without Borders said the global response to Ebola has been far short of what is needed. ... Read more
Marriott Skewered For Asking Guests To Help Pay Its Hotel Maids
Hotel behemoth Marriott -- which raked in nearly $13 billion in revenue last year -- wants guests to cough up a little more cash to help pay its hotel maids. Surprising to no one, customers are infuriated.
The company teamed up with TV anchor and activist Maria Shriver to launch a campaign on Monday called “The Envelope Please.” This week, envelopes will be placed in 160,000 Marriott hotel rooms across the U.S. and Canada requesting that guests tip the hotel’s cleaning staff. ... Read more
Democracy Now! U.S. and World News Headlines for Wednesday, September 17 [11:56]
*DN | U.S. Ground Troops Back in Iraq? General Hints Broader Military Effort May Be Needed to Fight ISIS (09/17/14) [18:07]
DN | As Activists Gear Up for People's Climate March, Rep. Jim McDermott Pushes Carbon Tax (09/17/14) [3:01]
DN | Debate: Should Scotland Vote for Independence? Musician Billy Bragg vs. Historian Sam Wetherell (09/17/14) [9:58]
*TRNN | Prof. Gerald Epstein comments: on the new Fed rules and the appointment of Federal Reserve's Vice Chairman Stanley Fischer to head the Financial Stability Committee (09/17/14) [10:28]
TRNN | Special Report: Scots in Their Own Words on Independence (09/17/14) [4:48]
TRNN | Andrew Levine says: What Drives American Israel Policy? (09/17/14) [16:56]
ISIS | ISIL | IS
The Islamic State/ISIS/ISIL has released its initial 'rebuff' propaganda response to President Obama's declaration of war against the 'non-islamic' terrorist organization. The brief video entitled "Flames of War" is shot like a blockbuster-movie-style trailer and threatens US troops and the White House. As Politico reports, the militant terror group vows that the “fighting has just begun” in the minute-long video, which features clips of American military forces under fire and a wounded U.S. soldier being taken from the battlefield. The video concludes as the words "Flames of War" flash on the screen, followed by "Fighting has just begun" and ends ominously: "Coming Soon." Even more concerning perhaps is al-Qaeda branches calling for all jihadists to unite against the common threat from a US-led coalition.New Film Coming from Al Hayat Media, the English-language media arm of ISIS (09/17/14) 
Environment | Climate ChangeWhat Climate Change Would Actually Look Like (09/15/14) [2:10]
InterestingIt's a new era for Goodyear's iconic blimp. You could call it the Age of the Zeppelin (04/03/14) [3:19]
The Ohio-based tire and rubber company started testing its next-generation airship last month at Goodyear's airfield near Akron. Yes, this is an actual Zeppelin airship, made in partnership with the German company that dates to before the infamous Hindenburg disaster.