Big Banks Claim Reform Will Hurt the Economy. Here's Why That's Bullsh*t.
Anat Admati, who teaches finance and economics at the Stanford Graduate School of Business, is co-author of The Bankers' New Clothes, a classic account of the problem of Too Big to Fail banks. On May 6th she will address the "Finance and Society" conference sponsored by the Institute for New Economic Thinking, featuring influential women who have challenged the status quo, like Federal Reserve Chair Janet Yellen, IMF Managing Director Christine LaGarde, and Senator Elizabeth Warren. Admati will join Brooksley Born, former chair of Chair of the Commodities Futures Trading Commission, to discuss how effective financial regulation can make the system work better for society. Seven years after financial hell broke loose, Admati warns that we are far from fixing a bloated and dangerous financial system -- and that the system can't fix itself. Why should you care? This gigantic house of cards could fall on you. ...
PBS Frontline | The Warning (Audiocast) [56:27]
An audio version of the FRONTLINE documentary The Warning, airing Oct. 20, 2009 on PBS and available for viewing online at pbs.org/frontline. In the devastating aftermath of the economic meltdown, FRONTLINE sifts through the ashes for clues about why it happened and examines critical moments when it might have gone much differently. Looking back into the late 1990s, veteran FRONTLINE producer/director Michael Kirk discovers early warnings of the crash, reveals an intense battle among high-ranking members of the Clinton administration and uncovers a concerted effort not to regulate the emerging, highly-complex and lucrative derivatives markets that would become the ticking time bomb within the American economy.
Sales and revenues don't run this economy. Fees (bribes and kickbacks) run it all.
The One-State Conundrum
America's closest allies, Israel and the Saudis, have been expressing something close to loathing for President Obama and his policies. In fact, you could think of the Saudi rulers as the John McCains of the Arabian Peninsula. Appalled to find Washington in something approaching a tacit alliance with their Iranian enemies in Iraq and actively negotiating a no-sanctions-for-nuclear-restrictions deal with that country, the Saudis launched a war of their own in Yemen and essentially forced the Obama administration into supporting it. Then they visibly ignored Washington's pressure to end their bombing campaign -- or rather claimed they were cutting back on it without evidently doing so -- which has been devastating to Yemeni civilians and ineffective in stopping the advances of the Iranian-backed Houthi rebels. ... Read more
Here's a punchline the Obama administration could affix to the Middle East right now: With allies like these, who needs enemies?
Tomorrow's Battlefield: U.S. Proxy Wars and Secret Ops in Africa
Shadow Government: Surveillance, Secret Wars, and a Global Security State in a Single Superpower World
Democracy Now! U.S. and World News Headlines for Thursday, April 30 [13:09]
DN | "History Is Finally Moving On": Tom Hayden on Thawing of U.S.-Cuba Relations Despite GOP Opposition (04/30/15) [11:39]
*DN | History Repeats? Activist Tom Hayden on Police Brutality Protests from the 1960s to Baltimore (04/30/15) [16:38]
Jon StewartJon Stewart | #FUCO - Democrats and Republicans F**king Cooperate (04/28/15) [5:44]
*TRNN | John Kiriakou: Iraq War a War Crime - Pushed by Cheney Over Objections of Joint Chiefs and CIA, Part 7 (04/30/15) [17:56]
TRNN | John Kiriakou: A Sea of Blood, Part 6 (04/28/15) [28:49]TRNN | Dicussion: Mainstream TV's Attention to Property Destruction Overshadows Killing of Freddie Gray (04/30/15) [13:48]
For the other interviews go here
TYT | Supreme Court FINALLY Enforces Campaign Finance Law - FINAL JUDGMENT (04/30/15) [3:04]
TYT | Bernie Sanders 2016? Senator To Announce Bid For Democratic Nomination (04/30/15) [9:30]
TYT | CNN's Wolf Blitzer On-Air Argument With Activist Deray McKesson (04/30/15) [6:26]
Papantonio: Obama - Tell Americans The Truth About TPP: Quit Hiding (04/27/15) [10:42]
Papantonio: Poor Police Training Is Killing Americans (04/27/15) [12:28]
The Power of Protest - Then & Now... (04/29/15) [9:15]
Clueless White Privilege Meets the Baltimore Revolt... (04/29/15) [9:07]
PBS Frontline - Older, but Good!PBS Frontline | Money, Power and Wall Street, Part 1 (04/24/12) [59:14], Part 2 [54:32], Part 3 [57:26], Part 4 [56:22]
As Wall Street innovated, its revenues skyrocketed, and financial institutions of all stripes tied their fortunes to one another. FRONTLINE probes deeply into the story of the big banks -- how they developed, how they profited, and how the model that produced unfathomable wealth planted the seeds of financial destruction.
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.
Bernie Sanders To Launch Presidential Campaign
Sanders, who first entered the Senate in 2007, has criticized Clinton for being too soft on Wall Street and has doubted whether Clinton can address income inequality.
Sanders has been an outspoken critic of the Trans-Pacific Partnership, a trade deal the Obama administration is negotiating with 11 Pacific countries. Sanders is also a critic of the controversial Citizens United Supreme Court decision, which struck down corporate campaign contribution limits. Sanders has tried to pass a constitutional amendment to overturn the decision. ... Read more
Now all we need to do is figure out how to get Elizabeth Warren to run. Later down the road we can figure out who should be President and who should be Vice President.
The Financial Markets Now Control Everything
The entire economic and political structure is now dependent in one way or another on the continued expansion of financial markets.
The financial markets don't just dominate the economy--they now control everything. In 1999, the BBC broadcast a 4-part documentary by Adam Curtis, The Mayfair Set ( Episode 1: "Who Pays Wins" 58 minutes), that explored the way financial markets have come to dominate not just the economy but the political process and society.
In effect, politicians now look to the markets for policy guidance, and any market turbulence now causes governments to quickly amend their policies to "rescue" the all-important markets from instability.
This is a global trend that has gathered momentum since the program was broadcast in 1999, as The Global Financial Meltdown of 2008-09 greatly reinforced the dominance of markets. ...
Bruce Jenner: 'I'm a Woman'
Bruce Jenner was once hailed as the greatest athlete in the world and later became a reality television star with one of the world's most famous families. Now, the former Olympian is revealing a secret that has caused him turmoil for decades.
"For all intents and purposes, I'm a woman," Jenner told ABC's Diane Sawyer in an exclusive interview that aired Friday in a special two-hour edition of ABC News' "20/20." ...
Note: there are 10 parts to this interview. For the other 9 parts please go here
Clear Waters of Lake Michigan Reveal Shipwrecks (PICTURES)
The last bit of ice has finally disappeared from Lake Michigan, revealing, to those in the air, what lies beneath the crystal clear waves: Shipwrecks. Lots of shipwrecks. On a patrol last Friday, a crew from the U.S. Coast Guard Air Station Traverse City in Michigan snapped some gorgeous photos of just a few of the wrecks along the shoreline, then posted them to Facebook. ... Read more
Did You Know?
Fukushima, Japan | In the early morning news flash of 8/9/2014, NHK announced that pieces of nuclear fuel, fuel rods, reactor pressure vessels and the internal structure were blasted to at least 130km (81 miles) away from Fukushima nuclear plant.
More VideosRT | Scrapped: Chittagong Cutters (03/16/15) [26:12]
RT | Origins of ISIS (older, but interesting 03/05/15) [27:15]
Democracy Now! U.S. and World News Headlines for Wednesday, April 29 [7:23]
DN | "You Can Replace Property, You Can't Replace a Life": Voices of the Unheard in the Baltimore Streets (04/29/15) [16:50]
Jon Stewart*Jon Stewart | Violent anti-police protests erupt in Baltimore, which blindside the media and CNN's Wolf Blitzer, despite the U.S.'s long history of racially charged riots. (04/28/15) [8:04]
TTIPTTIP: A Wolf In Sheeps Clothing (2014) [49:07]
*TRNN | On Canadian National TV: Author Jeremy Scahill criticizes President Obama's drone wars, the Western... (04/28/15) [15:14]
TYT | Is Drone Warfare The Lesser Of Two Evils? (04/28/15) [2:48]
TYT | Bruce Jenner's Heartfelt Interview With Diane Sawyer On ABC 20/20 (04/28/15) [10:57]
TYT | Black Riots Vs. White Riots (04/28/15) [2:49]
*RT | CrossTalk: Putin's 15 Years (04/29/15) [24:37]
RT | Keiser Report: Bankers' marathon (E750) (04/28/15) [23:28]
RT | Russell Brand & Max Keiser tear up Her Majesty
Max interviews comedian, author and activist Russell Brand about his new film, 'The Emperor's New Clothes'. They discuss crypto currency, revolution and the Queen's head.
Trews (E304) | Russell Brand: Emperor's New Clothes - Can Things Change? (04/22/15) [10:00]
Michael Winterbottom on politics, revolution, Russell Brand and The Emperor's New Clothes (04/21/15) [11:49]
Baltimore Smolders After Riot Over Freddie Gray's Death
Firefighters on Tuesday battled building fires in Baltimore sparked by rioting that erupted after the funeral Monday of a 25-year-old black man who died after suffering a spinal injury in police custody.
Acrid smoke hung over streets where fire crews raced to contain damage from violence that broke out just blocks from the funeral of Freddie Gray and spread through much of West Baltimore. ... Read more
88 Days to Kandahar: A CIA Diary
The First American-Afghan War, a CIA war, was approved by President George W. Bush and directed by the author, Robert Grenier, the CIA station chief in Islamabad. Forging separate alliances with warlords, Taliban dissidents, and Pakistani intelligence, Grenier launched the "southern campaign," orchestrating the final defeat of the Taliban and Hamid Karzai's rise to power in 88 chaotic days.
In his gripping narrative, we meet: General Tommy Franks, who bridled at CIA control of "his" war; General "Jafar Amin," a gruff Pakistani intelligence officer who saved Grenier from committing career suicide; Maleeha Lodhi, Pakistan's brilliant ambassador to the US, who tried to warn her government of the al-Qa'ida threat; "Mark," the CIA operator who guided Gul Agha Shirzai to bloody victory over the Taliban; General Ashfaq Pervaiz Kayani, a cautious man who became the most powerful man in Pakistan, struggling with Grenier's demands while trying to protect his country; and Hamid Karzai, the puzzling anti-Taliban insurgent, a man of courage, petulance, and vacillating moods.
We Won the War in Afghanistan -- And Then Lost It ;A CIA diary '88 Days to Kandahar' (04/01/15) [1:10:03]
How the Fukushima Disaster Crippled Japan's Climate Plans
Japan used to have a pretty good reputation on climate change. Thanks to its robust industrial economy, it has the fourth-largest carbon footprint in the G20 nations. But it gets a sizable chunk of its power from zero-carbon sources like hydro dams and, at least until the 2011 disaster at Fukushima, nuclear plants. And in 2009, the country agreed, along with the other G8 nations, to reduce its carbon emissions 80 percent by 2050.
Back in 1992, Japan played host to the negotiations that led to the Kyoto Protocol, the first time a group of countries agreed to reduce their greenhouse gas emissions. Even though the United States never ratified the Kyoto Protocol, it was a groundbreaking agreement. But today, in the context of a decade and a half of additional scientific research, policy advances, and public pressure, it's woefully insufficient to ward off the worst effects of climate change. That's why the international community is planning to craft a new agreement to replace it in Paris later this year. And this time around, Japan isn't looking so hot. ... Read more
kushima Uni "800,000,000,000,000 Bq of Cs-137 to reach West coast of North America by 2016?
Prof. Aoyama from Fukushima University Institute of Environmental Radioactivity reported that 800 tera Bq (800,000,000,000,000 Bq) of Cesium-137 is going to reach West Coast of North America by 2016. The amount to reach of other nuclides such as Cs-134 and other nuclides are not officially announced. This is 5% of the total Cs-137 amount discharged to the Pacific. ... Read more
Democracy Now! U.S. and World News Headlines for Tuesday, April 28 [10:13]
DN | Iranian Nobel Peace Prize Laureate Shirin Ebadi on Nuclear Deal, Islamic State, Women's Rights (04/28/15) [15:02]
DN | National Guard Deployed as Baltimore Erupts After Years of Police Violence, Economic Neglect (04/28/15) [17:17]
John Oliver*HBO | John Oliver: Fashion (04/26/15) [17:09]
More News ShortsAnother Secret Trade Deal: What is the Transatlantic Trade Investment Partnership (TTIP)? (04/27/15) [4:08]
Many multi-billion-dollar companies find legal loopholes to avoid paying taxes. Here are just four... (04/27/15) [3:26]
*TRNN | John Kiriakou: A Sea of Blood, Part 6 (04/28/15) [28:49]
TRNN | Former CIA, John Kiriakou: I Believed America Could Do No Wrong, Part 1 (04/16/15) [16:38] TRNN | John Kiriakou: How I Joined the CIA, Part 2 (04/17/15) [22:00] TRNN | John Kiriakou: My Reports on 1995 Human Rights Abuses in Bahrain Ignored by State Department, Part 3 (04/19/15) [13:31]*TRNN | Wall Street Journal UN Correspondent Joe Laurie discusses: Why Saudis Derailed Imminent Yemen Deal With Airstrikes (04/28/15) [13:01]
TRNN | John Kiriakou: The Iraqi War was a Pissing Match Between Saddam Hussein and American Presidents, Part 4 (04/21/15) [17:25]
TRNN | John Kiriakou: Why Didn't Bush/Cheney Prevent 9/11? Part 5 (04/23/15) [20:59]
*TRNN | Larry Wilkerson discusses how Chinese nuclear experts estimate North Korea has 20 nuclear warheads and could have 20 more in 2016 yet Washington is paying little attention (04/28/15) [9:43]
Who Is Really Choosing America's Next President?
A growing number of political committees known as super PACs have become instruments of single donors, according to a ProPublica analysis of federal records. During the 2014 election cycle, $113 million -- 16 percent of money raised by all super PACs -- went to committees dominated by one donor. That was quadruple their 2012 share.
The rise of single-donor groups is a new example of how changes in campaign finance law are giving outsized influence to a handful of funders. ... Read more
Summing Up the Stock Market
New Highs To Nowhere On Nothing
HE'S BACK: War Prez Comes Out Against Peace
LAS VEGAS -- Former President George W. Bush said the United States must show that it can follow through on its promises, and argued against the lifting of sanctions against Iran during rare remarks about foreign policy in a meeting with hundreds of Jewish donors here Saturday night.
Mr. Bush told the 700 donors attending a closed-door Republican Jewish Coalition spring meeting that he would not criticize President Obama, whose aim to degrade and ultimately destroy the Islamic State he applauded. But the former president nevertheless offered comments that many in the audience viewed as a tacit critique of his successor. ... Read more
China Considers Launching QE; Shanghai Stocks Soar.
Boston Fed Admits There Is No Exit, Suggests QE Become "Normal Monetary Policy"
"Largely missing from these discussions about the Fed's "exit strategy" is a consideration that perhaps it should retain, not discard, the balance sheet tools," the Boston Fed says, in a new paper advocating the retention of QE as a permanent part of the Fed's tool box. QEfinity may yet become a reality and for the most ironic of reasons: because the Fed is now in charge of promoting "financial stability" something which, as last October's Treasury flash crash proves, is exacerbated by asset purchases not ameliorated. ... Read more
One Nation Under God: How Corporate America Invented Christian America
We're often told that the United States is, was, and always has been a Christian nation. But in One Nation Under God, historian Kevin M. Kruse reveals that the idea of "Christian America" is an invention--and a relatively recent one at that.
As Kruse argues, the belief that America is fundamentally and formally a Christian nation originated in the 1930s when businessmen enlisted religious activists in their fight against FDR's New Deal. Corporations from General Motors to Hilton Hotels bankrolled conservative clergymen, encouraging them to attack the New Deal as a program of "pagan statism" that perverted the central principle of Christianity: the sanctity and salvation of the individual.
How Corporate America Invented Christian America
In December 1940, as America was emerging from the Great Depression, more than 5,000 industrialists from across the nation made their yearly pilgrimage to the Waldorf-Astoria Hotel in New York City, convening for the annual meeting of the National Association of Manufacturers. The program promised an impressive slate of speakers: titans at General Motors, General Electric, Standard Oil, Mutual Life, and Sears, Roebuck; popular lecturers such as etiquette expert Emily Post and renowned philosopher-historian Will Durant; even FBI director J. Edgar Hoover. Tucked away near the end of the program was a name few knew initially, but one everyone would be talking about by the convention's end: Reverend James W. Fifield Jr. ... Read more
Democracy Now! U.S. and World News Headlines for Monday, April 27 [8:30]
*DN | Nobel Laureates Call on "Militaristic" United States to Renew Pledge to Protect Human Rights (04/27/15) [10:56]
DN | Nobel Peace Prize Laureate Launches Campaign to Stop Killer Robots After Winning Ban on Landmines (04/27/15) [12:45]
Jon StewartJon Stewart | Oklahoma suffers a bizarre surge in earthquakes following a rise in fracking, and the NSA gets an unlikely new mascot. (04/23/15) [8:55]
More World News*Nepal earthquake kills over 1,500 people (04/25/15) [3:00]
RT | The Armenian tragedy (04/26/15) [51:57]
RT | Shattered Dreams: Newburgh a city in decline in NY State (04/26/15) [3:13]
TRNN | Paul Jay says the elites are incapable of making cities safe, dealing with chronic poverty and unemployment, facing up to economic stagnation and climate change - their only answer is war (04/27/15) [4:21]
TRNN | Prof. John Weeks and Prof. John Grahi: UK Elections: The Pendulum Shifts Left (04/27/15) [15:24]
TYT | Obama Moves Forward With TPP Despite Democratic Objections (04/24/15) [10:41]
*RT | CrossTalk: Sanction Wars (04/27/15) [24:04]
RT | Keiser Report: Age of False Prophets (E749) (04/25/15) [23:47]
100 Years Ago, 1.5 Million Christian Armenians Were Systematically Killed. Today, It's Still Not A 'Genocide'
On April 24, 1915, Ottoman Turkish authorities hauled off Daniel Varoujan, a leading Armenian poet of the time, along with over 200 other intellectuals in the capital Constantinople. To the crumbling Ottoman Empire, the poets, painters, writers, booksellers and politicians at the beating heart of the Armenian community posed too much of a threat.
Soon, much of the empire's Christian Armenian population would be targeted and nearly wiped out, accused of conspiring against the empire with the Russians. Many Armenians say the genocide was collective punishment for the actions of a few. ... Read more
Rubio Favorite in $heldon $weep$take$
Before Iowa and New Hampshire, GOP candidates are competing in the Sheldon Adelson primary, and some will travel to his posh Venetian hotel in Las Vegas this weekend in hopes of winning it. But one candidate -- Marco Rubio -- has emerged as the clear front-runner, according to nearly a half-dozen sources close to the multibillionaire casino mogul.
In recent weeks, Adelson, who spent $100 million on the 2012 campaign and could easily match that figure in 2016, has told friends that he views the Florida senator, whose hawkish defense views and unwavering support for Israel align with his own, as a fresh face who is "the future of the Republican Party." He has also said that Rubio's Cuban heritage and youth would give the party a strong opportunity to expand its brand and win the White House. ... Read more or Politico
Reluctant Spy: My Secret Life in the CIA's War on Terror
Long before the waterboarding controversy exploded in the media, one CIA agent had already gone public. In a groundbreaking 2007 interview with ABC News, John Kiriakou defined waterboarding as torture--but still admitted that it probably was effective. This book, at once a confessional, an adventure story, and a chronicle of Kiriakou's life in the CIA, stands as an important, eloquent piece of testimony from a committed American patriot. Kiriakou takes us into the fight against an enemy fueled by fanaticism, chillingly recounting what it was like inside the CIA headquarters on the morning of 9/11, the agency leaders who stepped up and those who protected their careers, and, in what may be the book's most shocking revelation, how the White House made plans to invade Iraq a full year before the CIA knew about it--or could attempt to stop it. Kindle $10:99 ... Read more
Why Nav Sarao Had To Be Destroyed: He Found A Way To Beat The HFTs At Their Own Game
Today, we find precisely how and why Sarao was singled out: he not only ratted out the parasitic trading strategies of the real culprits behind the broken market, the massive HFT firms (such as Virtu which just went public just a day before the Sarao charges were filed) which gave the "regulators" no choice: one of them had to be put away for good, but found a way to capitalize on the algos' stupidity, and actually make money by beating them at their own game. As such, regulators and exchanges such as the CFTC and CME had no choice but arrest him and prevent him from trading ever again! ... Read more
"I'm Not Crazy, I'm Scared" - Why For One Trader, This Time It Is Different
Over the course of this week we have heard Larry Fink of Blackrock talking about the severe risks of investing in Europe; Bill Gross of Janus saying German bonds are the short trader's dream; Pimco warning that markets have not addressed the potential of a Fed tightening; the incoming CEO of Allianz, that TWO trillion dollar asset manager, saying, "We see generally meager growth prospects, political dangers and risks of a stock market crash." Even Abby Cohen thinks it is a stock pickers world, not a buy anything and kick back world. And yet, the market didn't even blink.
Over the last three days, we have reported that some of the most important investment voices in the world are more than a little scared about the ravenous appetite for risk playing out in the market, and the fact that they have been ignored is beyond unnerving. Central banks are driving all investment decisions, and what this implies is that they are in this trade so deeply that there is no obvious or practical exit. ... Read more
Democracy Now! U.S. and World News Headlines for Friday, April 24 [7:28]
*DN | A People Expunged: Marking the 100th Anniversary of Armenian Genocide amid Ongoing Turkish Denials (01/24/15) [19:38]
*DN | How Many More? 116 Environmental Defenders Were Murdered Last Year, Mostly in Latin America (04/23/15) [9:38]
"The Lone Gladio" Reviewed"The Lone Gladio" Reviewed (09/19/24) [23:16]
TRNN | How a Protest Against Money in Politics was Spun as a Story on Terrorism (04/24/15) [2:55]
TRNN | Larry Wilkerson: 2016 Presidential Candidates Test the Waters in New Hampshire (04/24/15) [9:45]
*ThomHartmann | Time for the Sheldon Adelson Primary... (04/23/15) [2:39]
ThomHartmann | Jail for Educators, Only Fines for Banksters! (04/23/15) [3:23]
*ThomHartmann | Brunch With Bernie (04/23/15) [44:47]
RT | CrossTalk: The Kiev Regime (04/24/15) [24:46]
RT | Keiser Report: Power of alternative media (E748) (04/23/15) [23:34]